Polish bank Millennium aims for ROE about 18% By 2028 (updated)

Bank Millennium SA

28/10/2024 16:41

(Adds detail, context)
       Oct 28 (Reuters) - Poland's Bank Millennium  MILP.WA 
aims to achieve a return-on-equity (ROE) level of about 18% by
2028 under its new strategy presented on Monday. 
    In the strategy for 2025-2028, the bank also assumes it will
resume dividend distribution from year 2027, contingent on
regulatory environment.
     The bank also aims for cost-to-income ratio of about 37% in
2028.
    Bank Millennium, majority owned by Portugal's Millennium bcp
(BCP.LS) also said it wanted to focus on risk management, with
non-performing loans (NPL) ratio below 4% in 2028.
    The bank reported ROE of around 10% for the first half of
this year, with non-performing loans at 4.5% in the second
quarter. 

 (Reporting by Marta Maciag
Editing by Tomasz Janowski)
 ((Marta.Maciag@thomsonreuters.com;))