February 10, 2017 / 8:01 AM / 3 years ago

Polish Millennium unlikely to pay out dividend from 2016- media

WARSAW, Feb 10 (Reuters) - Bank Millennium, the Portuguese lender BCP’s Polish arm, will retain its profits made last year to strengthen its capital base if the financial market regulator KNF increases the requirement, Parkiet daily quoted the bank’s CEO as saying.

* Joao Bras Jorge told Parkiet that any potential increase in the capital requirement will be covered by capital which is generated internally, by retaining its net profits.

* “This will for example happen to 2016 profit,” the CEO said.

* He reiterated that Millennium is not likely no need fresh capital.

* Millennium, which is in a group of Polish lenders that hold large amounts of Swiss franc-denominated consumer loans, will publish 2016 results on March 6. (Reporting by Agnieszka Barteczko)

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