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2019 Financial
and Social Report
Management Board Report
Letter from the Chairman of the Management Board
Brief description of Bank Millennium Group
Highlights of results and achievements in 2019
Summary of consolidated Group results in 2019
Main awards and achievements in 2019
Information for investors
Changes of share price
Bank Millennium ratings
Investor relations
Dividend policy
Market conditions and business prospects
Macroeconomic environment
Polish banking sector, Bank’s position and risk factors
Strategy and business development prospects
Financial situation
Profit and loss account
Results of business segments
Balance sheet and off – balance sheet items
Presentation of business activity
Innovation and highest quality of positive customer experience
Retail banking
Corporate banking
Subsidiaries activity
Risk management
Risk management
Capital management
Credit risk
Other risks
Human resources management
Personal policy
Employment and staff costs
Remuneration policy
Principles of corporate governance at Bank Millennium
Statement on the principles of corporate governance applied in 2019
Shareholders and general meeting of shareholders
Supervisory Board
Management Board
Internal control system and external auditor
The Bank’s corporate social and environmental responsibility
Additional information
Statements of management board
Non-financial Information Report
Letter From The Chairman Of The Bank’s Management Board
Bank Millennium and the Bank Millennium Group
Profile of the organization
Profile of the organization
Scale of operations
Shareholders
Business performance
Business model and the value creation model
Execution of the
2018-2020 strategy
Management approach to sustainable development
Management approach to sustainable development
Descriptions of the significant risks related to the entity’s activity that may exert an unfavorable impact on social, employee, natural environmental issues and respecting human rights and combating corruption
The Bank Millennium Group’s values
Mission, values and ethics
Ethical standards
Respecting Humans Rights
Business
Banking for everyone
Banking without barriers
Innovative services
Social responsible products
Accessibility of services
Quality of Customer Service
Quality of customer service
High client service standard
Identifying customer needs
Complaints management
Responsible advertising and sales
Reliable marketing communication
Transparent information about products and services
Ethical standards in client service
Safety of Client funds
Safety of Client funds
Compliance – ensuring compliance with the regulations
Fraud prevention
Anti-money laundering and countering terrorism financing
Preventing conflicts of interests
Combating corruption
Safety of informations and transactions
Internal audit
The Bank in the market environment
The Bank in the market environment
Cooperation with trade organizations
Relations with the capital market
Business partners
Employees
Headcount
Governance structure
Headcount structure
Working conditions
HR policy
Compensation policies
Significant risk related to the employee area
Supporting diversity and counteracting discrimination
Freedom of association
Employee appraisal
Professional development
Friendly workplace
Social benefits
Employee health and safety
Society
Social environment
Dialogue with stakeholders
Social activity
Social activity
Bank Millennium foundation programs
Charitable campaigns
Promotion of culture
Supporting for innovation
Supporting education
Environment
Environmental Impact Management
Limiting The Consumption Of Resources
Environmental measures
Responsible financing
Environmental education campaigns
About this report
Approach To Reporting
Accounting act compliance table
GRI Standards Content Index
Contact data
Selected awards and distinctions
Consolidated Financial Statements
Financial highlights
Consolidated Income Statement
Consolidated Statement of Total Comprehensive Income
Consolidated Balance Sheet
Consolidated Statement of Changes in Equity
Consolidated Cash Flow Statement
General Information about Issuer and the Issuer’s Capital Group
Acquisition of shares and merger with Euro Bank S.A.
Accounting Policy
Statement of compliance with the International Financial Reporting Standards
Standards and interpretations applied in 2019 and those not binding at the balance sheet date
Adopted accounting principles
Financial Risk Management
Financial Risk Management
Risk Management
Capital management
Credit Risk
Market risk and interest rate risk
Liquidity Risk
Operational Risk
Operational Segments
Transactions with Related Entities
Transactions with Related Entities
Description of the transactions with the Parent Group
Transactions with the Managing and Supervising Persons
Information on compensations and benefits of the person supervising and managing the Bank
Fair Value
Contingent liabilities and assets
Lawsuits
Off – balance items
Notes to the Consolidated Financial Statements
Supplementary Information
Capital Adequacy
Introduction
Capital adequacy
Risk management goals and strategy
CRR scope of application and own funds
Capital requirements and internal capital
Capital requirements by exposure classes and risk types
Internal capital
Credit risk
Credit risk – introduction
Capital requirements to credit risk
Counterparty credit risk
Credit risk adjustments (impairment and impairment charges)
Use of external ratings
Encumbered assets
Non-performing and forborne exposures
Operational risk
Market risk and other risk types
Exposure to liquidity risk
Financial Leverage
IRB method
IRB method – introduction
Approval to use the IRB approach
Internal rating systems and processes
Use of internal estimates
Credit risk migration
Rating systems control review
Remuneration and recruitment policy
Recruitment policy
Decision-making processes regarding remuneration policy
Statement of the Management Board
Appendix 1
Appendix 2
Disclosures index
Interactive KPI
Main financial highlights
Main non-financial highlights
2019 Financial and Social Report
Interactive KPI
Main financial highlights
Main financial highlights
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