Total net loans of the Bank Millennium Group amounted to PLN 78,703 million at the end of March 2022 and increased by 5% y / y. The increase in loans without the portfolio of foreign currency mortgage loans reached 13% y / y, the bank said. The impaired loans ratio was 4.44% at the end of March this year. compared to 4.39% a year earlier.
Total net loans of the Bank Millennium Group amounted to PLN 78,703 million at the end of March 2022 and increased by 5% y / y (they remained stable compared to the previous quarter). The growth in loans without the portfolio of foreign currency mortgage loans achieved significantly higher dynamics , ie 13% y / y. Foreign currency mortgage loans, without provisions, decreased significantly over the last twelve months (a decrease by 29%) and the share of foreign currency mortgage loans (without loans taken over from Euro Bank) in total gross loans decreased by significant during the year to 10.7% from 15.8% a year ago, according to the banks report.
The net value of loans to households amounted to PLN 59,483 million at the end of March 2022, which means an increase by 6% y / y (stable on a quarterly basis). Under this line, PLN mortgage loans increased by 24% y / y. In Q1 2022, mortgage loan releases reached PLN 2 billion compared to PLN 2.1 billion a year earlier.
The net value of consumer loans amounted to PLN 15 649 million, growing by 2% y / y (-1% q / q).
The production of cash loans in 1Q22 reached the value of PLN 1.1 million, i.e. lower compared to PLN 1.3 billion in the previous quarter, it was also announced.
The net value of loans to enterprises amounted to PLN 19,220 million at the end of March 2022 and increased by 4% y / y also thanks to the restoration of leasing activities (+ 9% y / y) after the period of slowdown caused by the negative impact of the COVID-19 pandemic on the value of newly sold credit for enterprises, the bank reported.
Total deposits amounted to PLN 97,305 million as at March 31, 2022, increasing by 10% y / y (+ 6% q / q).
The main factor driving this growth were corporate and public sector deposits, which reached PLN 33,033 million as at the end of March 2022, which means a very strong increase by 38% y / y (+ 30% q / q). physical assets amounted to PLN 64,272 million as at March 31, 2022, maintaining the level from 12 months ago and recording a decrease by 3% q / q. Apart from this item, term deposits increased by 3% y / y, while savings and current accounts of natural persons recorded a decrease by 1% y / y, according to the banks report.
The share of impaired loans in the total loan portfolio was 4.44%. The share of loans past-due more than 90 days in the total portfolio decreased from 2.61% in March 2021 to 2.28% at the end of March 2022.
The coverage ratio of impaired loans increased significantly during the year from 64.27% at the end of March 2021 to 68.74% at the end of March 2022. The coverage of loans past-due by more than 90 days also increased during the year from 119.66% to 134%. , 26%, due to the increase in the level of provisions for delayed exposures, it announced.
The bank emphasizes that the dynamics of the NPL ratio shows a downward trend in all product segments. In the retail portfolio, there was an improvement y / y for mortgage loans – a decrease from 2.45% in March 2021 and 2.17% at the end of 2021 to 2.14%, as well as other retail products showed a decrease from 11% to 10.5% at the end of March 2022, a slight improvement was recorded in the leasing portfolio (from 3.97% to 3.91%). In the corporate portfolio, the ratio improved from 4.9% to 4.2%.
Bank Millennium is a nationwide, universal bank operating under this brand since 2003. In 1992, the shares of the bank (then BIG SA) as the first financial institution – made their debut 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 103.91 billion at the end of 2021.
Source: Bank Millennium and ISBnews
