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2018 Financial and Social Report

The Bank Millennium Group achieves its economic goals striving to balance the needs of the key Stakeholders, in accordance with its growth strategy while taking into account the principles declared in the Code of Ethics. [GRI 103-2]

Selected business performance (m PLN)
Group Bank
2018 2017* 2018 2017*
Total income 2,727.6 2,571.6 2,568.3 2,426.2
Total costs (1,268.0) (1,202.7) (1,205.3) (1,141.9)
including staff-related (638.1) (596.5) (592.2) (552.3)
Cost/income ratio 46.5% 46.8% 46.9% 47.0%
Provisions for risk (236.6) (255.4) (205.6) (231.1)
Bank levy (198.5) (188.3) (198.5) (188.3)
Corporate income tax (CIT) (264.0) (244.0) (236.6) (215.9)
Loans and borrowings to clients (net) 52,711.7 47,411.1 51,768.8 47,144.5
Client deposits 66,243.8 57,273.3 66,399.8 57,398.9
Share in the loan market 4.6% 4.4% The stated data pertain only to the Group The stated data pertain only to the Group
Share in the deposits market 5.3% 5.0% The stated data pertain only to the Group The stated data pertain only to the Group
Ratio: credits/deposits 79.6% 82.8% The stated data pertain only to the Group The stated data pertain only to the Group
Ratio of loans at risk 4.5% 4.6% The stated data pertain only to the Group The stated data pertain only to the Group
Loan loss coverage ratio 74.4% 67.1% The stated data pertain only to the Group The stated data pertain only to the Group
CET1 ratio 19.8% 20.0% 19.5% 19.9%
Total cost ratio (TCR) 21.7% 22.0% 21.5% 21.9%
Equity 8,384.4 7,772.6 8,136.0 7,540.5
Net profit 760.7 681.2 722.3 648.9
ROE 9.6% 9.3% The stated data pertain only to the Group The stated data pertain only to the Group
Distribution of profit
Dividend 0** 0** 0** 0**
Capital 100% 100% 100% 100%

* The data has been changed compared to the 2017 report. Starting from 2018, January 1st, the Group has changed the manner in which the fee for the obligatory bank restructuring fund collected by the Bank Guarantee Fund (BFG) is presented in the profit and loss account. The fee was previously presented in other operating expenses, while since 2018 this fee is recognized as a component of other administrative expenses (including fees for the BGF guarantee fund).

** Bank’s Management Board’s proposal prior to the General Meeting.

[GRI 201-1]