July 27 (Reuters) – Polish Bank Millennium BIGW.WA reported a six-fold net profit rise for the first half, touch above expectations, thanks to improving revenue and lower bad loan provisions on the back of a better economic environment.
The bank, which is controlled by Portugal’s Millennium bcp (BCP.LS), said on Tuesday it earned 138 million zlotys ($43.9 million) compared to 21 million in the same period of last year, when it was one of the hardest hit Polish lenders by the financial crisis.
Analysts expected a net profit of 134 million zlotys. Millennium did not break out a second-quarter figure. (Reporting by Chris Borowski)