Bank Millennium has PLN 507m in provisions for CHF loans in Q1, expects positive result

The estimated value of legal risk provisions related to foreign currency mortgage loans granted by Bank Millennium set up in Q1 2024 is PLN 507m, the bank said. In addition, the value of provisions for legal risk related to the portfolio of foreign currency loans granted by the former Euro Bank expected to be created (but with no impact on the financial result) is estimated at PLN 41 million. The bank expects a positive financial result for Q1 this year, it was also reported.

Bank Millennium is a nationwide universal bank, operating under the brand since 2003. In 1992, the bank's shares (then BIG SA) were the first financial institution to be listed on the WSE. The strategic shareholder of Bank Millennium is Banco Comercial Portugues (Millennium bcp) - the largest commercial bank in Portugal. The bank's total assets amounted to PLN 110.9 billion at the end of 2022.

Source: Bank Millennium and ISBnews