Earnings Poll: Poland's Bank Millennium Q3 profit seen up 30.8% y/y

Bank Millennium SA

25/10/2024 11:08

* 
      Bank Millennium Q3 results due on Oct 29
    

        * 
      Net profit seen at 134.7 mln zlotys
    

  
       Oct 25 (Reuters) - Poland's Bank Millennium  MILP.WA  is expected to
post a 30.8% year-on-year increase in third-quarter net profit thanks to lower
provisions for legal risks associated with foreign currency mortgages, Reuters
poll showed on Friday.
    Bank Millennium is seen posting a net profit of 134.7 million zlotys ($33.89
million), a survey of five banks and brokerages showed. That would put
Millennium's 9-month profit at 492 million zlotys.
    The bank estimated its provisions for legal risk related to foreign currency
loans created in the second quarter amounted to about 532 million zlotys, of
which 62 million are related to the former Euro Bank, which Millennium acquired
in 2019. That is down from 743 million zlotys a year earlier. 
    (Figures in millions of zlotys unless stated otherwise)
    

                  THIRD QUARTER OF 2024
=====================================================
               Net Income   Net Interest    Net Fee
                              Income        Income
=====================================================
  Median           137        1458         200        
  Average          134.7      1453.3       199.7     
  Lowest           113.4      1431         197       
  Highest          151        1467         201.6       
  No. of f'casts    5           5           5          
  Q3 2023          103        1372         188      
  Q2 2024          229        1383         191
    
    Forecasts provided by: PKO BP, DM BOŚ, Erste Group, Trigon DM, and mBank. 



($1 = 3.9750 zlotys)

 (Reporting by Tymon Miller; editing by Jason Neely)
 ((Tymon.miller@thomsonreuters.com))