The bank netted 207.5 million euros ($219.9 million) last year, up from 138 million euros in 2021. Profit in its domestic business more than doubled to 353.6 million euros.

Its Polish subsidiary, Bank Millennium, said last month it reduced losses by 26% to 217 million euros in 2022, despite 525.6 million euros of costs related to legal risks over its portfolio of foreign currency mortgage loans.

After years of record low rates putting pressure on lenders' financial margins, Millennium bcp benefited in 2022 from interest rate hikes by the European Central Bank and the Polish central bank to control inflation.

Millennium bcp's consolidated net interest income, or earnings on loans minus deposit costs, rose 35.3% to 2.15 billion euros in 2022. Its fees and commissions grew 6.1% to 771.9 million euros.

Its recurring core income grew by 44.4% to 1.86 billion euros, while its recurring operating costs increased only 3% to around 1 billion euros.

($1 = 0.9438 euros)

(Reporting by Sergio Goncalves; Editing by Mark Potter)