No notes
Empty basket
Print version
Delete
2018 Financial and Social Report

Transactions with Related Entities

All and any transactions between entities of the Group in 2018 and 2017 resulted from the current operations.

Apart from transactions described herein, in the indicated period neither Bank Millennium S.A., nor subsidiaries of Bank Millennium S.A. made any other transactions with related entities, which individually or jointly may have been significant and concluded under terms and conditions other than market-based.

The following are the amounts of transactions with the Capital Group of Bank’s parent company – Banco Comercial Portugues (ultimate parent company), these transactions are mainly of banking nature (in ‘000 PLN):

With parent company With other entities from parent group
31.12.2018 31.12.2017 31.12.2018 31.12.2017
ASSETS
Loans and advances to banks – accounts and deposits 921 263 0 0
Financial assets held for trading 0 0 0 0
Hedging derivatives 0 0 0 0
Other assets 0 0 0 0
LIABILITIES
Loans and deposits from banks 199 1 252 114 449 106 970
Debt securities 0 0 0 0
Financial liabilities held for trading 307 0 0 0
Hedging derivatives 0 0 0 0
Other liabilities 0 0 135 0

 

With parent company With other entities from parent group
2018 2017 2018 2017
Income from:
Interest 24 8 0 0
Commissions 204 156 0 0
Financial assets and liabilities held for trading 0 0 0 0
Expense from:
Interest 0 4 (290) (271)
Commissions 0 0 0 0
Financial assets and liabilities held for trading 271 0 0 0
Other net operating 13 17 0 0
Administrative expenses 0 144 722 408

 

With parent company With other entities from parent group
31.12.2018 31.12.2017 31.12.2018 31.12.2017
Conditional commitments 109 673 101 962 0 0
– granted 104 643 100 345 0 0
– obtained 5 030 1 617 0 0
Derivatives (par value) 33 577 0 0 0

Information on total exposure towards the managing and supervising persons as at 31.12.2018 (in ‘000 PLN):

The managing persons The supervising persons
Total debt limit 211.0 137.0
 – including an unutilized limit 144.9 121.0

 

The Group provides standard financial services to Members of the Management Board and Members of the Supervisory Board and their relatives, which services comprise i.a.: keeping bank accounts, accepting deposits or sale of financial instruments. In the Group’s opinion these transactions are concluded on market terms and conditions. In accordance with the credit lending policy adopted in the Bank, term credits described in this section have appropriate collateral to mitigate its credit risk exposure.

 

Information on total exposure towards companies and groups personally related as at 31.12.2018 (in ‘000 PLN):

Entity Loans granted Guarantees provided Open credit lines Relationship
Client 1 13 006 2 000 154 Personal with a supervising person

 

Information on total exposure towards the managing and supervising persons as at 31.12.2017 (in ‘000 PLN):

The managing persons The supervising persons
Total debt limit 196.0 163.0
– including an unutilized limit 144.3 121.6

 

Information on total exposure towards companies and groups personally related as at 31.12.2017 (in ‘000 PLN) :

Entity Loans granted Guarantees provided Open credit lines Relationship
Client 1 14 436 2 000 158 Personal with a supervising person

Salaries (including the balance of created and reversed provisions for payments of bonuses) and benefits of managing persons recognized in Profit and loss account of the Group were as follows (data in thousand PLN):

Year Salaries and bonuses Benefits Total
2018 18 653.1 1 941.1 20 594.2
2017 17 875.4 1 578.9 19 454.3

 

The benefits are mainly the costs of accommodation of the foreign members of the Management Board. The values presented in the table above include items classified to the category of short-term benefits and provision for variable remuneration components.

In 2018 and 2017, the Members of the Management Board did not receive any salaries or any fringe benefits from Subsidiaries.

 

Remuneration of the Members of the Supervisory Board of the Bank (data in thousand PLN):

Period Short term salaries and benefits
2018 1 926.6
2017 1 891.6

 

In 2018 and 2017, the Members of the Bank’s Supervisory Board did not receive remuneration for performing their functions in subsidiaries.