ATHENS, March 9 (Reuters) - Millennium Bank Greece, a subsidiary of Millennium BCP, said on Tuesday full-year 2009 net profit fell to 9.0 million euros ($12.2 million) from 15.1 million euros a year earlier, including a one-off tax.
The bank, with a network of 178 branches in Greece, said total assets last year grew 9 percent to 6.7 billion euros, with its client base growing beyond 540,000 and deposits reaching 3.5 billion euros.
The bank, with a 9.3 percent basic Tier 1 capital ratio, said loans in arrears more than 90 days made up 3.8 percent of its loan portfolio, about half the average ratio in the Greek banking sector.
It said the impact of the recession in Greece was partly offset by the quality profile of its loan book, with more than 55 percent of loans secured by real estate collateral.
Mortgages made up 39 percent of the portfolio with the loan-to-value ratio at 51 percent. Consumer credit made up 14 percent of the loan book, down from 17 percent a year earlier, the bank said.
(Reporting by George Georgiopoulos) Keywords: GREECE MILLENNIUM/ (george.georgiopoulos@reuters.com; +30210 3311813; Reuters Messaging:george.georgiopoulos.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The bank, with a network of 178 branches in Greece, said total assets last year grew 9 percent to 6.7 billion euros, with its client base growing beyond 540,000 and deposits reaching 3.5 billion euros.
The bank, with a 9.3 percent basic Tier 1 capital ratio, said loans in arrears more than 90 days made up 3.8 percent of its loan portfolio, about half the average ratio in the Greek banking sector.
It said the impact of the recession in Greece was partly offset by the quality profile of its loan book, with more than 55 percent of loans secured by real estate collateral.
Mortgages made up 39 percent of the portfolio with the loan-to-value ratio at 51 percent. Consumer credit made up 14 percent of the loan book, down from 17 percent a year earlier, the bank said.
(Reporting by George Georgiopoulos) Keywords: GREECE MILLENNIUM/ (george.georgiopoulos@reuters.com; +30210 3311813; Reuters Messaging:george.georgiopoulos.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.