Record net profit and cost efficiency +
- Net profit in 2016 at PLN 701 million (+28.3% y/y) – the highest level in the Bank’s history
- New banking tax cost a significant amount of PLN 174.1 million in 2016 year (not tax-deductible)
- Net profit without new tax and one-offs (VISA and provisions booked in 2Q) at PLN 695 million (+4.1% versus recurrent net profit in 2015: PLN 667.4 million without one-off charges booked in 4Q 2015)
- ROE (Return on average equity) at 10.4% (7.8% without one-off items) versus 9% in 2015
- ROA (Return on average assets) at 1.05%
- Cost to Income at 45% – the lowest yearly level (49.6% without one-offs – in line with strategic target of Bank Millennium Group)
Continued growth of operating income +
- Operating income grew by 23% yearly
- Core income higher by 6% yearly
- Net interest income up by 10% yearly
- Net commission income fell by 2.5% yearly but showed consequent growth since 2Q 2016
Good and stable asset quality and cost of risk +
- Impaired loans ratio at low 4.5% and in case of mortgage at 2.5%
- Cost of risk at 49 b.p.s.
Strong capital and liquidity ratios +
- Consolidated Total Capital Ratio at 17.4% and Common Equity Tier 1 at 17.3%
- Comfortable fulfilment of regulatory capital adequacy requirements
- Very strong liquidity: loans-to-deposits ratio at low 84% level
Retail business +
- 1,492 ths. active customers with 122 ths. net growth during 2016 year
- Retail deposits grew faster than market (+11% y/y) to reach 5.8% market share
- Acceleration of mortgage sale: +30% yearly (to PLN 895 million)
- Consumer loan portfolio grew +11% y/y thanks to robust sale of cash loans: PLN 2.3 billion
Companies business +
- Profitability of corporate segment grew by 31% y/y
- Strong sale of leasing and factoring: +7% and +9% yearly
- Growing number of transactions: +9% of domestic payments and +28% of FX transactions (volume)
Innovations/Quality +
- One million active users of electronic banking (16% growth y/y)
- Innovation, convenience and simplicity for customers in electronic channels
- Bank Millennium among the top three banks in Newsweek quality ranking since 2011
Previous page
Brief description of Bank Millennium Group
Next page
Main awards and achievements in 2016