UPDATE: Bank Millennium posts PLN 344.5 mln net profit in Q3 2025, above expectations

Bank Millennium's net profit in the third quarter of 2025 was PLN 344.5 million (EUR 72 mln), exceeding expectations. The group's net profit rose from PLN 189.8 million (EUR 40 mln) the previous year, beating the consensus of PLN 311.6 million (EUR 65 million) by 10.6 percent. Expectations ranged from PLN 274.7 million to PLN 394 million (EUR 57 mln to EUR 82 mln).

Net profit for the first three quarters of 2025 reached PLN 855.2 million (EUR 179 mln), up from PLN 546.7 million (EUR 114 mln) a year earlier. Interest income totalled PLN 1,445.7 million (EUR 303 mln) in the third quarter, slightly below the consensus of PLN 1,451.1 million (EUR 304 mln), declining 2.9 percent year on year.

Commission income was PLN 204.3 million (EUR 43 mln), above the consensus of PLN 196 million (EUR 41 million), with 2.9 percent year on year and 8.6 percent quarter on quarter growth. Total costs were PLN 627.1 million (EUR 131 mln), in line with expectations, rising 13.4 percent year on year and 4.2 percent quarter on quarter.

Reserve balance (excluding disputed foreign currency mortgage loan reserves) was PLN 113.3 million (EUR 24 mln), 9 percent above analyst forecasts of PLN 104 million (EUR 22 mln), though reserves fell 28 percent year on year. Legal risk provisions for foreign currency mortgage loans were PLN 484.6 million (EUR 102 mln) in the third quarter.

seb/ nl/