General Information about Issuer and the Issuer’s Capital Group
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, 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 Bank Millennium Capital Group (the Group) with over 5,800 employees with core business comprising banking, leasing, factoring, brokerage, capital operations, investment fund management and web portals activity.
Supervisory Board and Management Board of Bank Millennium S.A. as at 31 December 2016
Composition of the Supervisory Board as at 31 December 2016 was as follows:
- Bogusław Kott – Chairman of the Supervisory Board,
- Nuno Manuel da Silva Amado – Deputy Chairman of the Supervisory Board,
- Dariusz Rosati – Deputy Chairman and Secretary of the Supervisory Board,
- Julianna Boniuk-Gorzelańczyk – Member of the Supervisory Board,
- Miguel de Campos Pereira de Bragança – Member of the Supervisory Board,
- Agnieszka Hryniewicz-Bieniek – Member of the Supervisory Board,
- Anna Jakubowski – Member of the Supervisory Board,
- Grzegorz Jędrys – Member of the Supervisory Board,
- David Harris Klingensmith – Member of the Supervisory Board,
- 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.
Composition of the Management Board as at 31 December 2016 was as follows:
- Joao Nuno Lima Bras Jorge – Chairman of the Management Board,
- Fernando Maria Cardoso Rodrigues Bicho – Deputy Chairman 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,
- Wojciech Rybak – Member of the Management Board.
On May 13, 2016, Mr. Michał Gajewski tendered his resignation from the function of Member of the Management Board of the Bank, effective as of above date.
On June 6, 2016, the Supervisory Board of Bank Millennium appointed Mr. Wojciech Rybak to the position of Member of the Management Board.
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 2016, are presented by the table below:
Scrollbar is
below the table
| 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. | rental and management of real estate, insurance and brokers activity | Warsaw | 100 | 100 | full consolidation |
| MILLENNIUM GOODIE Sp. z o.o. | web portals activity | 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. in liquidation | furniture manufacturer | Świebodzin | 50 (+1 share) | 50 (+1 share) | equity method valuation (*) |
| BG LEASING S.A. in bankruptcy | leasing services | Gdańsk | 74 | 74 | historical cost (*) |
(*) Despite having a control over the companies Lubuskie Fabryki Mebli S.A. and BG Leasing S.A., due to insignificant nature of these companies 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 aforementioned enterpises.
As a result of the completion of securitization transactions and the related financial instruments in the second quarter 2015, the Group ceased to consolidate the special purpose vehicle Orchis Sp. z o.o., which 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 used to be consolidated, even though the Group had no capital commitment.