LISBON – Portugal’s largest listed financial institution, Millennium bcp, posted on Monday a 95% rise in first-quarter internet revenue, pushed by sturdy revenue at residence, regardless of losses at its Polish subsidiary because of heavy provisions for overseas foreign money loans.
The financial institution reported a internet consolidated revenue of 112.9 million euros ($118 million) within the quarter as earnings at its enterprise in Portugal elevated by 29% from a 12 months in the past to 107.6 million euros, it stated in an announcement.
Poland’s Financial institution Millennium, half-owned by Millennium bcp, three weeks in the past reported a quarterly lack of 26.4 million euros, after taking provisions of round 108 million euros for authorized dangers associated to its portfolio of overseas foreign money mortgage loans.
With out these provisions, the Portuguese lender’s revenue would have totalled about 175 million euros, it stated.
In an indication of excellent working efficiency at residence and overseas, Millennium bcp’s consolidated internet curiosity revenue, a measure of earnings on loans minus deposit prices, rose by 24% to 465 million euros throughout the first three months of 2022.
($1 = 0.9602 euros)
Post a Comment