for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Portuguese lender Millennium bcp's first-quarter profit jumps 64%

LISBON, May 17 (Reuters) - Portugal’s largest listed bank Millennium bcp posted on Monday a 64% rise in first-quarter net profit, driven by its domestic business, despite losses in the Polish unit and higher impairments and provisions.

Consolidated net profit totalled 57.8 million euros ($70.21 million), while in Portugal alone the bank netted over 83 million euros, five times more than a year ago.

Net interest income (NII), a measure of earnings on loans minus deposit costs, slipped 2.5% to 376 million euros during the first three months of 2021, the bank said in a statement.

Poland’s Bank Millennium reported last week a quarterly loss of 311 million zlotys ($82.8 million) mostly due to provisions for risks related to foreign currency loans.

$1 = 0.8232 euros Reporting by Sergio Goncalves; editing by Andrei Khalip

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up