LISBON, Feb 25 (Reuters) - Millennium bcp, Portugal’s largest listed bank, said on Wednesday its 2025 net profit rose 12% to a record high, driven by strong earnings at its Polish unit, and announced
Millennium bcp Profit Up 12% to Record as Bank Eyes Dividend Increase
Record Net Profit and Drivers
2025 Results and Capital Return Plan
LISBON, Feb 25 (Reuters) - Millennium bcp, Portugal’s largest listed bank, said on Wednesday its 2025 net profit rose 12% to a record high, driven by strong earnings at its Polish unit, and announced plans to increase shareholder payouts.
Results Versus LSEG Forecast
It booked a consolidated net profit of 1.02 billion euros ($1.20 billion), slightly beating the average forecast of 996 million euros in an LSEG poll.
Dividend Policy and Buybacks Through 2028
Millennium bcp said in a statement that it will propose at its shareholders' meeting a plan for the bank to distribute 50% of net income as dividends through 2028, complemented by a regular share buyback programme that would lift total shareholder remuneration to as much as 90% of profits. The bank currently returns up to 75% of profits to shareholders.
Polish Subsidiary Performance
Net income of its half-owned Polish subsidiary Millennium bank soared 67% to 283.7 million euros despite heavy charges related to its Swiss franc mortgage loan portfolio decreased.
Exchange Rate Reference
($1 = 0.8473 euros)
Reporting and Editing Credits
(reporting by Sergio Goncalves; Editing by Emma Pinedo)
