LISBON, Feb 10 (Reuters) - Millennium bcp, Portugal's largest listed bank, posted on Wednesday a 12 percent rise in 2009 net profit, helped by the sale of a stake in its Angolan unit, and exceeding market consensus.
The bank said in a statement net profit totaled 225 million euros ($310.1 million). Net interest income came under pressure, falling 22.5 percent to 1.33 billion euros. BCP also said it reinforced its Core Tier 1 capital ratio last year to 7.1 percent.
Analysts in a Reuters poll had expected, on average, a 2009 net profit of 214 million euros and net interest income -- the difference between interest paid on deposits and interest charged on credit -- of 1.33 billion euros.
In 2008, BCP's bottom line was affected by steep losses on its stake in local rival Banco BPI, which has since been sold. This year, the bank sold a nearly 50 percent stake in its Angolan subsidiary, which helped the results.
(Reporting by Andrei Khalip and Sergio Goncalves) ($1=.7255 Euro) Keywords: BCP/RESULTS (andrei.khalip@thomsonreuters.com; (351) 213-509-209; RM: andrei.khalip.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 said in a statement net profit totaled 225 million euros ($310.1 million). Net interest income came under pressure, falling 22.5 percent to 1.33 billion euros. BCP also said it reinforced its Core Tier 1 capital ratio last year to 7.1 percent.
Analysts in a Reuters poll had expected, on average, a 2009 net profit of 214 million euros and net interest income -- the difference between interest paid on deposits and interest charged on credit -- of 1.33 billion euros.
In 2008, BCP's bottom line was affected by steep losses on its stake in local rival Banco BPI, which has since been sold. This year, the bank sold a nearly 50 percent stake in its Angolan subsidiary, which helped the results.
(Reporting by Andrei Khalip and Sergio Goncalves) ($1=.7255 Euro) Keywords: BCP/RESULTS (andrei.khalip@thomsonreuters.com; (351) 213-509-209; RM: andrei.khalip.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.
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