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Millennium BCP rises after Q3 net profit beat driven by higher lending income

By Reuters News

** Shares of Portugal's Millennium bcp BCP.LS rise 3% after its third quarter net profit came ahead of estimates, driven by resilient lending margins

** BCP's net profit rose 13% year-on year in the third quarter to €873.7 million ($973.9 million), above the average forecast of €800 million in an LSEG analysts poll

** "Portuguese net interest income is the star of the show, a 2% beat vs consensus, and growing at 14% y/y in 9M26," Jefferies says

** The net interest margin was up 7 bps in the quarter, with expansion in both Portugal and Poland, the broker adds

** The lender also upgraded its 2028 strategic targets

** The shares are on track for their best day since July, if gains persist

($1 = 0.8971 euros)

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