Bank Millennium

Bank Millennium SA

Type	Public
Industry	Finance and Insurance
Founded	1989
Headquarters	Warsaw, Poland
Key people	Joao Bras Jorge CEO
Products	Financial Services
Net income	701,3m PLN
Website	https://www.bankmillennium.pl

Bank Millennium S.A. – Poland based commercial bank with headquarters in Warsaw. The strategical investor of the bank is Banco Comercial Português (BCP). It is one of the largest banks in Poland operating since 27 years ago.

Operations

The Bank offers its services through a network of branches, online, phone and mobile banking to personal customers (in Retail, Prestige and Private Banking segments), to sole traders and microbusinesses as well as medium and large companies in the Corporate Banking segment. In 2016 the Bank had close to 1.5 million active personal Customers and 13,000 corporate Customers who have 24/7 access to modern financial services thanks to the nationwide network of close to 400 branches and latest technologies (online, phone, mobile banking). The number of customers actively using e-banking exceeded 980,000 in 2016 and was 16% higher than in the same period of 2015. Mobile banking as of end of September 2016 had 596,000 users (which means 38% growth y/y). Apart from the bank the most important companies in the Group are: Millennium Leasing (lease business), Millennium Dom Maklerski (brokerage business) and Millennium TFI (mutual funds). The offering of these companies complements the services and products offered by the Bank. Joint Stock Company listed since 1992 on the Warsaw Stock Exchange in Warsaw. The Bank’s shares are included in WIG 30 and Respect Index indexes.^[1]

Innovation

Innovation in Bank Millennium is part of the business strategy. Bank Millennium is consistently developing a digital platform, the flexibility of which permits fast implementation of innovative changes. The platform supports an omnichannel approach, which assumes full integration of online banking (Millenet), Mobile Banking, TeleMillennium (phone banking) and service in branches where the customers gets clear information about the status of his products and services. The usage of digital channels in sales of the bank’s products and services is growing: 99% of bank transfers are sent and 90% of term deposits are set-up with their use. The value of cash loans newly granted with use of electronic channels constituted approx. 23% of all loans granted.In 2015 Bank Millennium was one of the first in Poland to give users of smartphones with fingerprint readers the possibility to logon to the mobile app with use of a fingerprint, and in mid-2016 launched the mobile app functionality of confirming 3D Secure transactions with a fingerprint. ^[2]

Quality of service

For years the Bank has been characterised by striving to provide high quality of customer service, which is confirmed by results of independent surveys. For some years now the Bank has been one of the leaders in the “Best Bank” survey by the Newsweek weekly. Adapting to the expectation of its customers and their changing behaviour Bank Millennium is developing omnichannel processes, using traditional branches, Call Center, online and mobile banking for communication with customers. ^[3]

History

A branch of Bank Millennium in Katowice

A branch of Bank Millennium in Warsaw, Krakowskie Przedmieście Street

A branch of Bank Millennium in Warsaw, Krakowskie Przedmieście Street

Bank Millennium was established in 1989 as Bank Inicjatyw Gospodarczych BIG SA. In 1992 the Bank’s shares – the first shares of a financial institution – debuted on the Warsaw Stock Exchange. In 1997 the Bank merged with Bank Gdański SA (1997). A year later in cooperation with its Portuguese shareholder and partner Banco Comercial Portugues (BCP), the Bank launched the Millennium retail service network. Today BCP holds 50.1% shares of Bank Millennium.^[4]

Governing bodies

Management Board

Joao Bras Jorge – Chairman of the Management Board

Fernando Bicho – Deputy Chairman of the Management Board

Wojciech Haase - Member of the Management Board

Andrzej Gliński - Member of the Management Board

Maria Jose Campos - Member of the Management Board

Wojciech Rybak - Member of the Management Board

Supervisory Board

Bogusław Kott – Chairman,

Nuno Manuel da Silva Amado – Deputy Chairman and Secretary (independent member),

Dariusz Rosati - Deputy Chairman,

Miguel de Campos Pereira de Bragança - Member of the Supervisory Board

Agnieszka Hryniewicz-Bieniek -Member of the Supervisory Board (independent member)

Anna Jakubowski - Member of the Supervisory Board (independent member)

Grzegorz Jędrys- Member of the Supervisory Board (independent member)

Andrzej Koźmiński- Member of the Supervisory Board

Miguel Maya Dias Pinheiro - Member of the Supervisory Board

Rui Manuel da Silva Teixeira - Member of the Supervisory Board

Julianna Boniuk-Gorzelańczyk - Member of the Supervisory Board

(source: https://www.bankmillennium.pl/o-banku/wladze-banku-i-lad-korporacyjny)

The Bank in numbers

Assets PLN 68,793m

Equity PLN 6,941m

Total deposits PLN 55,876m

Total loans PLN 47,020m

Net profit PLN 701.3m

Return on Equity (ROE) 10.4%

Total Capital Ratio (TCR):17.4%

References