LISBON, March 6 Portugal's second-largest bank
Millennium bcp posted on Monday a 2016 net profit much
smaller than a year ago but stayed in the black for the second
year running despite hefty losses earlier in the year due to
higher provisions for bad loans.
"There was a very positive and consistent evolution of the
consolidated operating result before provisions," CEO Nuno Amado
told a news conference, citing a core income of nearly 1.1
billion euros in 2016.
For all of last year, the lender posted a net profit of 23.9
million euros ($25 million) after a profit of 235 million euros
in 2015, with net interest income - the difference between
interest charged on loans and interest paid on deposits - rising
3.3 percent to 1.23 billion euros.
It did not reveal its fourth-quarter result, but it had
previously reported a nine-month net loss of 251 million euros.
($1 = 0.9449 euros)
(Reporting By Sergio Goncalves and Andrei Khalip)