Press news


28.10.2013

Information about the activity of Bank Millennium Capital Group during 3 quarter of 2013

Bank Millennium Group (the "Group") consolidated net profit amounted to PLN 392.8 million during the nine months of 2013, which is a 13,4% increase when compared to corresponding period of 2012. In the 3rd quarter, consolidated net profit reached PLN 138.5 million and continued positive trend growing by 3.2% quarterly.

Main financial highlights of 3Q 2013 

Continued improvement of net profit

  • 1-3Q'13 net profit at PLN 393 million; 13% up y/y 
  • 3Q'13 net profit at PLN 138 million; 3% up q/q
  • ROE at 10.8% in 3Q (10.5% ytd)

Net interest income growth despite lower interest rates

  • Net Interest income grew 3.2% q/q and 0.6% y/y
  • Net commissions up 6.8% y/y

Lower costs, better efficiency 

  • Operating costs for 1-3Q'13 dropped 2.3% y/y
  • Cost-to-Income ratio improved to 53% in 3Q (55% ytd)

3 strong pillars: asset quality, liquidity, capital

  • Impaired loans ratio at 4.5% for 1- 3Q 2013
  • Loan-to-deposits at 91%
  • Core Tier 1 at 13.4% and total CAR at 14.9% at the end of 3Q

 
Main business highlights in 1-3Q 2013

Combined growth of volume and margin in deposits 

  • Solid growth of deposits (2.3% q/q, 9.2% y/y)
  • Continuation of margin improvment on deposits
  • Improved structure of deposits, with higher share of current and saving accounts

Strategic change of asset mix continues 

  • Cash loans sales at PLN 475 million, portfolio grew 29% y/y
  • Factoring quarterly turnover at PLN 2.6 billion, leasing new sales at 500 million
  • Loans to companies grew by PLN 1.2 billion (11%) ytd
  • Increased share of non-mortgage loans

Quality awards prove excellence in service level

  • The most „Friendly Bank for retail customers" by Newsweek
  • Awarded „Best Consumer Internet Bank" by Global Finance

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