BCP 2010 net profit jumps 34 percent, beats f'cast
LISBON | Wed Feb 2, 2011 12:03pm EST
LISBON Feb 2 (Reuters) - Millennium bcp (
BCP.LS),
Portugal's largest listed bank, posted on Wednesday posted a 34 percent jump in 2010 net profit, beating market expectations thanks to strong growth at its overseas operations, particularly its Polish unit.
The bank said in a statement net profit totaled 301.6 million euros ($417.5 million) last year. Net interest income rose 14 percent to 1.52 billion euros.
Poland's Millennium Bank BIGW.WA, which is BCP's largest overseas unit, on Tuesday reported a better-than-expected 2010 net profit of 326 million zlotys ($113.8 million) thanks to an economic rebound that boosted its revenues.
Analysts in a Reuters poll had expected, on average, Millennium bcp group net profit of 259 million euros and net interest income of 1.49 billion euros.