27.07.2010
Information on the Results of the Bank Millennium Capital Group in the First Half Year of 2010
The consolidated net profit of the Bank Millennium Capital Group ("Group") in HY 1 was PLN 137.6 mn compared to PLN 21 mn in HY 1 2009. Thanks to a continued improvement of net interest income and good cost effectiveness the Group retained the level of profitability from Q1 2010.
The following are the main ratios of the Bank Millennium Group's earnings in HY 1 2010.
- Total core income: growth 43% y/y
- Total operating expenses: growth 0.7% y/y
- Cost/income ratio: 63.3% (improvement by 8.8 p.p. y/y )
- Deposits (plus retail bonds): growth 1.6% y/y (+4.2% q/q)
- Loans: growth by 4.5% y/y (+10.6 % q/q)
- Loans/deposits ratio:105.8% (compared to 102% in HY 1 2009) primarily due to FX fluctuations
- Capital adequacy ratio: 14.0% compared to 11.2% a year ago
- ROE: 7.7% (compared to 1.5% in the first half of 2009)