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RPT-Millennium plans $350 mln rights issue after Q3 loss

Fri Nov 6, 2009 1:52am EST

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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.

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The bank, controlled by Portugal's Millennium bcp (BCP.LS), 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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