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2018 Financial and Social Report

Socially responsible products and services

Bank Millennium and the Bank’s Companies have in their offers products and services making it possible to improve clients’ living conditions, facilitating finance management and savings, supporting the development of innovation and environment protection.

Individual clients

The 360° account offer is universal and prepared so as to respond to the needs of various groups of clients regardless of their age and income.

Accounts for younger clients are always free of charge, while the structure of the 360° Account supports fee exemptions even if a minimal salary is credited to the account. The Bank does not set a requirement regarding the minimum amount of a single incoming amount or source of income. It suffices for the total proceeds to be at least PLN 1,000 regardless of whether those proceeds are for a job salary, social benefits, scholarships or cash deposits.

What’s more, if the condition is met for the account to be free of charge, then the client also does not pay for any ATM withdrawals. This means that clients who have mobility-related problems (elderly and disabled persons) may use ATMs in locations that are convenient for them without taking any risk of additional fees for withdrawals from third party ATMs.

Clients whose finances do not allow them to order house calls by a physician can use this service in the event of a sudden illness affecting themselves or a child within the framework of the Very Helpful Package offered in conjunction with the 360° account. By selecting the Account with the Very Helpful Package a client can order 7 interventions in 12 free of charge months from the time of opening the account.

Having regard for younger clients the Bank’s offer includes the Student 360° Account for people aged 18 to 26 and the Junior 360° Account for clients who have not yet turned 18. Lending them a helping hand to take their first steps in the world of finance, The Bank does not charge fees for account handling, while the debit card is free of charge if only one transaction is executed using the card.

WWF Millennium MasterCard is a credit card  supporting protection of the natural environment. Bank Millennium transfers to WWF Polska, the national branch of the largest international foundation dealing with nature protection, half of the monthly fee for handling the card and a certain percentage of the transactions made using the card. Additionally, the card is made using an environmentally-friendly PETG polyester which may be recycled.

2018 2017 2016 2015 2014
Number of WWF cards in the portfolio 1,466 1,306 1,515 1,396 1,583

Millennium Dom Maklerski makes brokerage accounts available to its clients – IKZE (Individual Pension Security Accounts). IKZE are a type of personal pension program involving the accumulation of savings by investing through a brokerage account, thereby making it possible to increase one’s pension in the future.

Prestige and Private Banking clients

Bank Millennium’s offering includes SRI (Socially Responsible Investing) mutual funds:

Fund Description Number of clients in the portfolio in 2018
BlackRock GF New Energy Fund Invests in equities of companies chiefly operating in power generation using alternative sources of energy and energy technology sectors. 4
BlackRock GF World Healthscience Fund Invests in equities of companies with substantial interests in healthcare, pharmaceuticals and medical technology and equipment as well as biotechnology development. 51
UniAkcje Biopharma Invests mainly in shares of biotech, pharmaceutical and medical companies. 182
PZU Medyczny Focuses on companies in the health care business – pharmaceutical and biotech companies. 487

Corporate clients

The Bank’s offering for Corporate clients includes products to finance environmentally friendly investments and innovative activity of enterprises.

Environmentally and socially responsible lending

Within the industry policy that is in force, the Bank distinguishes high risk industries. One of the criteria for a given industry to be classified in this category is a negative growth outlook related, among others,  with environmental threats. The Bank has default exposure limits for clients in respective categories, where the caps are the most restrictive for high risk industries.

Bank Millennium has inserted clauses in its rules and regulations for lending to Corporate Banking clients on all clients having to meet the requirements of environmental protection and respecting employment rules. This means that all the projects debt-financed by the Bank and all credit products are also subject to these requirements. [GRI G4 FS1, G4 DMA]

The rules and regulations contain certain restrictions regarding the financing of socially harmful activity featured on the EBRD (European Bank for Reconstruction and Development) Environmental and Social Exclusion List. The limitations commit all borrowers not to use the funding received from a loan for projects associated with forced labor and all forms of discrimination in employment and production and trade in various substances recognized as dangerous and harmful to the environment. Moreover, borrowers are obliged to run their businesses in compliance with environmental protection regulations and other health and safety regulations and the principles of social cohabitation.

Under the “General Terms and Conditions of a Lease Agreement”, clients agree to comply with the provisions about financing products while giving consideration to social and environmental factors. A client is also obligated, when using a leased asset in its business activity, to conduct this activity in compliance with all relevant laws, standards and other regulatory requirements at the nation-wide and local level with respect to protecting the environment, health and safety as well as principles of social cohabitation.

In the case of retail clients, loans granted for each investment are verified by the Bank in view of the investor’s/borrower’s holding appropriate environmental decisions that allow for performing the investment, such as the construction of a home / apartment building, etc. [GRI G4 FS5]

Financing of environmentally and socially friendly projects

To assist clients in the execution of various investment projects the Bank offers programs facilitating access to EU loans and products to finance pro-environmental and social ventures.

Clients can receive a flexible bonus (up to 5%) that grows over time by enrolling in the program and selecting a financed object from a broad spectrum of energy efficient machinery and equipment. The purpose of the program is to support Polish businesses finance technology contributing to lower consumption of energy. Clients can also reduce their costs by investing in energy efficient machinery and equipment. The Eko Energia Lease Program is financed from European Bank for Reconstruction and Development (EBRD) funds.

The loan for technological innovations, which is provided in cooperation with Bank Gospodarstwa Krajowego (BGK) within the framework of EU funds, offers the possibility of obtaining a non-refundable subsidy in the form of a technology bonus.   The bonus is used by BGK for partial repayment of the loan granted by the Bank. The bonus amount may reach as much as PLN 6 million and up to 70% of eligible expenditures for micro and small businesses and up to 60% for medium-sized enterprises, based on the regional aid map.

The Loan for Technological Innovations is dedicated to companies that meet the criteria of being micro, small and medium-sized businesses and is designated for the implementation of a new technology facilitating the manufacture of goods, processes or services that are new or much better than previously produced in Poland. The project’s positive effect on the implementation of sustainable development principles is an important element considered in the loan application evaluation process.

For more than 5 years, in cooperation with BGK, Bank Millennium has been actively involved in the national program of de minimis guarantees. A business in the SME sector may take advantage of a de minimis guarantee to collateralize the repayment of a PLN loan. The high amount of the guarantee (up to 60% of the loan amount and up to PLN 3.5 million) and the term of financing of up to 24 months in the case of working capital loans or up to 96 months for investment loans mean that this program has enjoyed great interest among clients.

This program run jointly with BGK is addressed to companies engaged in implementing innovative investment projects. Under the Smart Growth Operational Programme (SG OP), guarantees are granted to secure repayment of investment loans up to 80% of a loan for an amount of up to EUR 2.5 million. These are what are referred to as Biznesmax Guarantees that may be extended within the framework of “de minimis aid” or (if this cannot be applied) within the framework of “regional investment aid”. The term of validity of the guarantees may last as long as 20 years. Biznesmax guarantee are totally free of charge to clients. A borrower who takes advantage of a loan with a Biznesmax guarantee may also receive reimbursement for a portion of the interest paid for a period of 3 years (grant under “de minimis aid”). This is a unique combination of a guarantee and a grant. [GRI 203-1]

Value of socially responsible products [GRI G4 FS7, G4 FS8]
Product portfolio value
(m PLN)
Number of products in the portfolio
Loan for Technological Innovations 116.1 21
Leasing Eko Energia 51.2 635