Bank Millennium S.A. (the Bank) is a nationwide universal bank, offering its services to all market segments via a network of branches, corporate centers, individual advisors and electronic banking.
The Bank, entered under the number KRS 0000010186 in the National Court Register kept by the Local Court for the Capital City of Warsaw, 13th Business Department of the National Court Register, is seated in Warsaw, ul. Stanisława Żaryna 2A.
The Bank is listed on the Warsaw Stock Exchange since 1992, first Bank ever to float its shares on the WSE.
The Bank is a parent company of a Capital Group (the Group) with over 6,100 employees with core business comprising banking, leasing, factoring, brokerage, capital operations, and investment fund management.
Supervisory Board and Management Board of Bank Millennium S.A. as at 31 December 2014
Composition of the Supervisory Board as at 31 December 2014 was as follows:
- Bogusław Kott - Chairman of the Supervisory Board,
- Maciej Bednarkiewicz – Deputy Chairman of the Supervisory Board,
- Nuno Manuel da Silva Amado – Deputy Chairman of the Supervisory Board,
- Marek Furtek –Secretary of the Supervisory Board,
- Miguel de Campos Pereira de Bragança – Member of the Supervisory Board,
- Luís Maria França de Castro Pereira Coutinho – Member of the Supervisory Board,
- Grzegorz Jędrys – Member of the Supervisory Board,
- Andrzej Koźmiński – Member of the Supervisory Board,
- Maria da Conceição Mota Soares de Oliveira Callé Lucas – Member of the Supervisory Board,
- Marek Rocki – Member of the Supervisory Board,
- Dariusz Rosati – Member of the Supervisory Board,
- Rui Manuel da Silva Teixeira – Member of the Supervisory Board.
Composition of the Management Board as at 31 December 2014 was as follows:
- Joao Nuno Lima Bras Jorge – Chairman of the Management Board,
- Fernando Maria Cardoso Rodrigues Bicho – Deputy Chairman of the Management Board,
- Artur Klimczak – Deputy Chairman of the Management Board,
- Julianna Boniuk-Gorzelańczyk – Member of the Management Board,
- Wojciech Haase – Member of the Management Board,
- Andrzej Gliński – Member of the Management Board,
- Maria Jose Henriques Barreto De Matos De Campos – Member of the Management Board.
Both the composition of the Supervisory Board and the Management Board did not change during 2014.
Capital Group of Bank Millennium S.A.
The Group’s parent entity is Bank Millennium S.A. while the ultimate parent entity of the Bank Millennium SA is the Banco Comercial Portugues - company listed on the stock exchange in Lisbon. The companies that belong to the Capital Group as at 31 December 2014, are presented by the table below:
| Company | Activity domain | Head office | % of the Group’s capital share | % of the Group’s voting share | Recognition in financial statements |
|---|---|---|---|---|---|
| MILLENNIUM LEASING Sp. z o.o. | leasing services | Warsaw | 100 | 100 | full consolidation |
| MILLENNIUM DOM MAKLERSKI S.A. | brokerage services | Warsaw | 100 | 100 | full consolidation |
| MILLENNIUM TFI SA | investment funds management | Warsaw | 100 | 100 | full consolidation |
| MB FINANCE AB | funding companies from the Group | Stockholm | 100 | 100 | full consolidation |
| MILLENNIUM SERVICE Sp. z o.o. | general construction and engineering | Warsaw | 100 | 100 | full consolidation |
| TBM Sp. z o.o. | financial operations - equity markets, advisory services | Warsaw | 100 | 100 | full consolidation |
| MILLENNIUM TELECOMMUNICATION SERVICES Sp. z o.o. | financial operations - equity markets, advisory services | Warsaw | 100 | 100 | full consolidation |
| LUBUSKIE FABRYKI MEBLI S.A. | furniture manufacturer | Świebodzin | 50 + 1 share | 50 + 1 share | equity method valuation (*) |
| BG LEASING S.A. under bankruptcy | leasing services | Gdańsk | 74 | 74 | historical cost (*) |
(*) Despite having a control over the company Lubuskie Fabryki Mebli S.A., due to insignificant nature of Lubuskie Fabryki Mebli S.A. from the realization of the primary goal of the consolidated financial statements point of view, which is the correct presentation of Group’s financial situation, the Group does not consolidate capital involvement in Lubuskie Fabryki Mebli S.A.
Additionally under the same criterion the Group does not consolidate accounts of BG Leasing S.A., in view of the ongoing company bankruptcy proceedings.
Moreover, the Group is consolidating a special purpose vehicle Orchis Sp. z o.o. (SPV). The Company was created for the needs of a securitisation transaction conducted by the Group in 2007. In accordance with the provisions of IFRS 10 the Company started to be consolidated, despite the Group not having capital exposure (for this reason the Company is not included in the table presented above). Details of securitization transaction and information about the Group's exposure to this risk are presented in Chapter 14 point 8.
In 2013, the Bank completed the sale transaction of Pomorskie Hurtowe Centrum Rolno-Spożywcze (PHCRS). Until the transaction PHCRS used to be a part of the Bank Millennium Group (associate company) and in the consolidated financial statements was valued using the equity method.
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