Banco Comercial Português, S.A. informs about Bank Millennium Poland results in 9M2018

    Banco Comercial Português, S.A. informs about Bank Millennium Poland results in 9M2018 

Banco Comercial Português, S.A. hereby informs that Bank Millennium in Poland, in which it has a 50.1% holding and whose accounts are fully consolidated at BCP group level, released today its results for the 9M2018. Main highlights are as follows:

 "Net profit increase

• Net profit of 1-3Q 2018 reached 548 million PLN, which means 9.3% yearly growth
• ROE at 9.5% and cost/income at 46.6%

Growth of operating income and costs

• Operating income grew by 5.2% y/y while costs grew by 5.6% y/y
• Net interest income grew +6.7% y/y

Low cost of risk and impaired ratio maintained

• Cost of risk at 47 b.p. (annualised)
• Impaired loans (stage 3) ratio at stable 4.7% level

Strong capital and liquidity ratios, rating upgrade

• Group's TCR at 22.9% and CET1 at 20.9% (without profit of the current year)
• Loan to deposits ratio still at very low level of 84.5%
• Moodys's upgraded Bank Millennium rating to Baa2/P2/ba1/ positive outlook"

End of announcement

Banco Comercial Português, S.A.

Attachment

• 2018 10 25 Resultados Polónia 9M2018 EN