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Report: Bank Millennium eyes dividend from 2018 profit

Bank Millennium SA will strive to pay a dividend from its 2018 profit once the percentage of its Swiss franc-denominated mortgage portfolio in the entire loan book has decreased further, news agency PAP reported Feb. 2, citing CEO Joao Bras Jorge.

"Unfortunately, we are still unable to pay a dividend. We believe we may be able to do it next year as the share of the mortgage portfolio in the gross book is shrinking," the executive was cited as saying.

The management board of the bank, which ended 2017 with a preliminary net profit of 681.2 million Polish zlotys, recommended shareholders to skip the dividend payment and retain the entire 2017 profit, the newswire noted.

Millennium BCP is the ultimate parent of Bank Millennium SA.

As of Feb. 2, US$1 was equivalent to 3.35 Polish zlotys.