Millennium bcp's profit up 3.5%, driven by Polish unit

Banco Comercial Portugues SA

30/07/2025 17:35

LISBON, July 30 (Reuters) - Portugal's largest listed bank, Millennium bcp BCP.LS, said on Wednesday its first-half net consolidated profit rose 3.5% despite lower ECB interest rates, driven by its Polish unit Bank Millennium MILP.WA.

It booked a consolidated net profit of 502 million euros ($575.59 million), while net income of its Polish subsidiary increased 43% to 121 million euros even as it booked heavy charges related to its Swiss franc mortgage loan portfolio.

Consolidated net interest income (NII), a measure of earnings on loans minus deposit costs, rose 3.3% to 1.4 billion euros, supported by activities abroad, the Portuguese bank said in a statement.

($1 = 0.8721 euros)

 (Reporting by Sergio Goncalves, editing by Andrei Khalip)

 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net))