Millennium plans $350 mln rights issue after Q3 loss
WARSAW, Nov 6 (Reuters) - Polish lender Millennium BIGW.WA accounced on Friday a 1 billion zlotys ($348.2 million) rights issue as it posted an unexpected net loss in the third quarter due to a writedown related to mounting bad loans.
The bank, controlled by Portugal's Millennium bcp (BCP.LS: Quote, Profile, Research), had a net loss of 87 million zlotys versus an 11 million profit seen in a Reuters poll of analysts. (Reporting by Gabriela Baczynska, writing by Chris Borowski)
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