November 8, 2018 / 5:19 PM / 8 months ago

Portugal Millennium bcp bank says Jan-Sept profit nearly doubles

LISBON, Nov 8 (Reuters) - Portugal’s largest listed bank, Millennium bcp, saw its net profit nearly double in the first nine months of 2018 from a year ago, boosted by a sharp improvement in earnings at home and lower provisions for bad loans.

Net profit soared 93 percent to almost 258 million euros ($295 million) in the period, with net earnings from operations in Portugal contributing 115 million euros, up from less than a million euros in the same period a year earlier. Commissions also rose 3 percent.

Net interest income, the difference between interest charged on loans and interest paid on deposits, rose almost 3 percent to 1.05 billion euros.

Overall impairment and provisions in the period fell by almost a third to 431 million euros. ($1 = 0.8758 euros) (Reporting By Andrei Khalip)

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