Millennium Leasing Sp. z o.o., a subsidiary of Bank Millennium, was formed in 1991 and is one of the leasing companies with the longest operating history on the market in Poland. Its activities include financing of any fixed assets: passenger cars and trucks, machinery and equipment for most industries, heavy vehicles (for road, rail, water and air transport) and real properties.
The aggregate value of the leasing agreements disbursed by the company in 2019 amounted to PLN 3.5 billion, which was at the 2018 level. Signing more than 231 thousand lease agreements from the beginning the company’s existence for a total amount of PLN 35.7 billion speaks to the company’s business volume. As at 31 December 2019, the value of capital engaged in in-force lease agreements is PLN 6.8 billion, signifying 5.4% growth y/y.
As a socially-responsible organization, Millennium Leasing undertakes activities to create awareness and ensure financial profitability of energy-efficient business activity. In 2019, the company used programs organized by EBRD (PolGEFF) for this purpose but also, such as in the case of the Leasing Eko Energia product, refunded a portion of financing costs to customers with its own resources. In the past year, Millennium Leasing encouraged customers to use the offer of financing environmentally-friendly solutions as part of the MilleSun program to finance photovoltaic equipment. The product is offered through a streamlined procedure and selection of a supplier authorized by Millennium Leasing is a factor that makes it easier to receive financing.
In the real estate financing area, Millennium Leasing promoted the Built&Lease product. It is a comprehensive method of financing the process of building and using real properties with manufacturing plants or other large commercial facilities. It combines the benefits of flexible credit financing during the construction period with the operating lease formula after the property is commissioned for use.
In 2019, Millennium Leasing also offered the Autokomfort+ service launched three years before, which enabled convenient, quick and economic service of vehicles in the up to 3.5 tons category. In the service, customers receive access to the wholesale purchase of parts and maintenance services in attractive discounted prices that are fixed across Poland, also in authorized service stations.
Acting through a broker, the company enabled the customers to select services offered by leading insurance companies in order to insure risks associated with the leased assets comprehensively. Millennium Leasing customers were able to choose their preferred options of property insurance, motor insurance (including long-term policies with fixed insurance rates over the entire term of the agreement) as well as additional insurance products.
The services offered by Millennium Leasing are sold by leasing advisors in 67 outlets across Poland. They are actively supported by relationship managers in retail branches and Bank Millennium’s corporate banking network. As a result, the company offers businesses a broad range of financial services, which include both leasing and banking products. Millennium Leasing advisors are also able to tailor the offer to the individual needs of their clients. Through a well-developed sales network, Millennium Leasing services are available throughout Poland.