Millennium Bank continues consistent development and reaches RON 2 billion assets
BANCA MILLENNIUM S.A. - 11 February 2010
Millennium Bank Romania's financial results at the end of 2009 reconfirm the company's strong development and position consolidation. On December 31st, 2009, the bank's total assets reached RON 2 billion (EUR 473 million), 62% higher than a year before.
The operating income doubled compared to the end of 2008 and reached RON 107.7 million (EUR 25.5 million).
The total volume of loans granted by Millennium Bank to customers exceeded RON 1 billion (EUR 243 million). Loans to individuals went up by 50% year-on-year, to RON 651 million (EUR 154 million). Customer funds attracted by the bank registered a growth of 154%, reaching RON 1.1 billion (EUR 255 million).
'2009 was a year of growing competitiveness and concentration in the Romanian banking industry. Within this environment, Millennium Bank was able to strengthen its position, increasing its market share in both loans granting and funds attraction. We highlight that our market share in customer funds more than doubled over the last year', stated Jose Toscano, CEO Millennium Bank Romania. 'In 2009, we changed our business model by converting consumer finance units to branches that provide full offer of retail products and services. This was an important investment that reconfirms Millennium bcp's group strong commitment towards the Romanian market', Jose Toscano added.
At the end of December 2009, the losses reached RON 161 million (EUR 38 million), as a direct result of the bank's significant investments. The bank maintains a solid capital position, with the Tier I capital ratio standing at 21.4% as at the end of 2009.
The number of Millennium Bank active clients was of approximately 27,000 at 2009 year-end, and the number of Millennium Bank employees was 700.
The financial data are obtained through the methods acknowledged by the International Financial Reporting Standards. IFRS data as of December 31, 2009, rate used: 4.2373 RON/EUR.
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Millennium Bank, part of the leading financial private group in Portugal, Millennium bcp, started its activity on the Romanian market on October 11, 2007, by simultaneously opening 39 branches in Bucharest and in other eight cities of the country. Now, Millennium bank has 74 units throughout Romania, addressing individuals and companies, with an extensive range of products.
Millennium bcp is a success story in European banking. Founded in 1985, Millennium bcp registered, at the end of December 2009, total assets of EUR 96 billion. Millennium is Portugal's leading private financial group and is included in key national and international stock market indices, in particular the Euronext PSI Financial Services, PSI-20, DJ Eurostoxx banks, Bebanks and Euronext 100, of the Lisbon, Paris, Brussels and Amsterdam Stock Exchanges.
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Millennium Bank improves operating income and increases loans volume
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