February 2, 2015 / 6:42 AM / 3 years ago

Polish Millennium posts 10.5 pct net rise in Q4, above f'cast

WARSAW, Feb 2 (Reuters) - Bank Millennium, a Polish unit of Portugal’s Millennium BCP, reported an almost 10.5-percent growth of its fourth-quarter net profit, as the results were yet untouched by the Swiss franc surge, the lender said on Monday.

Bank Millennium, the first Polish lender to present its results for the September-December period, showed a bottom line of 158 million zlotys ($42.7 million), compared to 149 million seen in a Reuters poll.

The result was slightly better than analysts’ expectations, because the bank increased its net interest income to 354 million zlotys from 346 million a year earlier.

In the whole 2014 Bank Millennium booked a net profit of 651 million zlotys, while analysts had expected 642 million zlotys.

The main focus now is Millennium’s exposure to the Swiss franc surge and its future impact on the bank’s loan portfolio, 39 percent of which are Swiss-franc denominated credits. ($1 = 3.6990 zlotys) (Reporting by Marcin Goclowski; Editing by Adrian Krajewski)

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