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2018 Financial and Social Report

About this report

The Bank Millennium Group’s non-financial report depicts the operations of the Bank Millennium Group during the period from 1 January 2018 to 31 December 2018 [GRI 102-50] unless stated otherwise.  The report was drafted in accordance with the “Core” option of GRI Standards and in accordance with the non-financial reporting requirements imposed by the amended Accounting Act. [GRI 102-54] It contains a recap of the Bank Group’s activity in the sustainable development context, i.e. in the economic, social and environmental areas.  The Bank Group publishes reports annually. [GRI 102-52] The most recent report was published for 2017. [GRI 102-51]

The report describes the operations of the Bank and the Bank Millennium Group’s major companies: Millennium Leasing, Millennium Dom Maklerski and Millennium Towarzystwo Funduszy Inwestycyjnych. [GRI 102-45] Two significant changes occurred in the organization during the reporting period. In Q4 2018, Bank Millennium took over management of Spółdzielcza Kasa Oszczędnościowo-Kredytowa Piast (SKOK Piast) and signed by agreement to acquire Euro Bank. This however did not materially affect the organization’s supply chain. [GRI 102-10]

This report has undergone no significant changes in its reporting scope and reporting boundaries compared to the most recent publication in 2017. [GRI 102-49]  Nor does this report contain any adjustments to the information in the previous report. [GRI 102-48]


The process of defining the report’s contents, conducted at the end of 2017 and reviewed in 2018, entailed a review of the hitherto reporting issues in accordance with the three steps required by the GRI Standards, i.e. identification, prioritization and validation.  On this basis, an analysis was first conducted of the research conducted among the key Stakeholders (clients and employees), internal documents, sustainable development practices and trends in the industry as a result of which a list of the reporting aspects aligned to the Bank Group’s operations was created.  The aspects selected were subject to prioritization by the managers of the Bank and Companies from the vantage point of two criteria: reputation impact and the Bank’s business strategy. As a result, the list of aspects pertaining to the Bank Millennium Group’s sustainable development was prepared. [GRI 102-46]

Below please find the list of reported aspects selected during the reporting process along with the bounds of their impact. The aspects have been divided into three groups to reflect the findings of the analysis according to the two criteria mentioned above. The first group consists of the key aspects for the Bank Group’s operations that have been captured in detail in the report. Their description entails the management approach used and the specific resultant outcomes. The second group of topics are the ones that reference the Bank Group’s operations to a medium degree.  Their description in the report is limited to the resultant outcomes or a qualitative description. The third group of aspects consists of issues of lesser significance. Concise information or reference to other documents may be found in the report.

The analysis of all these aspects gives consideration to their nature and impact. The boundaries of the internal aspects have been labeled with the letter (int.), while external ones have been labeled with the letter (ext.). The nature of the impact has in turn been divided into a direct impact (d) and an indirect impact (in) – related to the firm’s business relations. [GRI 103-1]

The aspects of the Bank Millennium Group’s sustainable development reporting

[GRI 103-1, 102-47]

Employees and managers responsible for various reporting areas were involved in the reporting process. A consulting company supported the stage of defining the report’s content. This report is not audited externally. The report has been subject to “Materiality Disclosure Service)”. It refers to GRI Standards from GRI 102-40 to GRI 102- 49 and verifies whether, at the time the report was published, the disclosures were correctly placed both in the GRI Content Index and in the wording of the final report. [GRI 102-56]