Earnings Poll: Poland's Bank Millennium Q2 profit seen up 68% y/y

Bank Millennium SA

25/07/2024 11:11

* 
      Bank Millennium Q2 results due on July 26
    

        * 
      Net profit seen at 178 mln zlotys
    

  
       July 25 (Reuters) - Poland's Bank Millennium  MILP.WA  is expected to
post a 68% year-on-year increase in second-quarter net profit supported by a
positive impact from recognition of tax asset and lower provisions for legal
risks associated with foreign currency mortgages, Reuters poll showed on
Thursday.

Bank Millennium is seen posting a quarterly net profit of 178 million
zlotys($44.94 million) and estimated to report 306 million zlotys of net profit
in the entire first half of the year, a survey of five banks and brokerages
showed.

Bank Millennium estimated that the value of provisions for legal risk related to
foreign currency loans created in the second quarter amounted to about 518
million zlotys, compared with 680 million zlotys a year earlier. 
    
(Figures in millions of zlotys unless stated otherwise)
    

                  SECOND QUARTER OF 2024
=====================================================
               Net Income   Net Interest    Net Fee
                              Income        Income
=====================================================
  Median           207        1381         194        
  Average          178        1302         195     
  Lowest           80         1176         194       
  Highest          225        1386         196       
  No. of f'casts    5           5           5          
  Q2 2023          106        1336         203      
  Q1 2024          128        1354         200
    
    Forecasts provided by: BM Pekao, DM BOŚ, Erste Group, Ipopema Securities,
and Wood&Co. 


($1 = 3.9609 zlotys)

 (Reporting by Anna Maria Nowak;
Editing by David Evans)
 ((annamaria.nowak@thomsonreuters.com))