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2019 Financial
and Social Report

Socially responsible products

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.

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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 low monthly income 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, namely if a minimum amount is credited and at least one payment by a card issued to the account or one BLIK payment per month is made, them 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 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. Users of the Package are also provided with assistance by a plumber or electrician as well as with a repair service of household appliances, electronics, computers, smartphones and tablets. By selecting the Account with the Very Helpful Package a client can utilize 7 interventions during as many as 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 and ATM withdrawals are free of charge if only one transaction per month is executed using the card or only one BLIK payment is made.

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.

XLS
2019 2018 2017 2016 2015
Number of WWF cards in the portfolio 1,537 1,466 1,306 1,515 1,396

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 investment funds pursuing socially responsible and environmental goals.

XLS
Fund Description Number of clients
in the portfolio
in 2019
BGF Sustainable Energy Fund Invests in shares of companies operating in the new energy sector. 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. 38
UniAkcje Biopharma Invests mainly in shares of biotech, pharmaceutical and medical companies. 172
PZU Energia Medycyna Ekologia Focuses on companies in the health care business – pharmaceutical and biotech companies – as well as companies involved in environmental protection initiatives – generating energy from renewable sources or operating in the recycling sector. 166

Corporate clients

The Bank actively seeks for opportunities to create products and procedures that have the capacity to exert a favorable impact on the environment and social relations. Within the framework of its offering, the Bank creates incentives for clients undertaking environmental initiatives or minimizing their unfavorable impact on the environment. The Bank participates in support programs, for instance with Bank Gospodarstwa Krajowego (BGK), which reward investment in energy saving solutions. The Bank also supports innovation, including in socially responsible and environmentally friendly areas, by participating in the distribution of public funds allocated to these ends.

Environmentally and socially responsible lending

Bank’s exposure to financing high-carbon sectors, such as coal mines and coal-based power sector, was historically low compared to the banking sector average. The Bank’s Group adheres to the provisions of the “Environmental Policy of the Bank Millennium Group”, which lay down, among other issues, the principles governing the provision of funding for investments, taking into account their impact on the environment. Moreover, within the industry policy that is in force, the Bank distinguishes high risk industries. One of the criteria for a branch to be classified in this category is a negative outlook related, among others, to environmental threats. The Bank has default exposure limits for clients in respective categories, where the caps are the most restrictive for high risk industries.

Based on its industry policies and the provisions of the “Environmental Policy of the Bank Millennium Group”, the Group supports investments related to the substitution of coal-derived energy with low-emission energy sources and modern power generation and distribution infrastructure. The Bank is interested in funding projects related to renewable energy sources, focused on reducing emissions and supporting energy efficiency, especially in energy-intensive and high-emission industries. Within the framework of its cooperation with Bank Gospodarstwa Krajowego (BGK), the Bank offers its clients loans for environmentally friendly initiatives. Based on loan agreements entered into with the EBRD (European Bank for Reconstruction and Development), for over 10 years now the Bank Millennium Group has been strongly involved in the provision of support to clients purchasing or leasing production lines and equipment that is characterized by high energy-efficiency and energy-saving parameters (Polish Sustainable Energy Financing Facility for Leasing – PolSEFF Leasing). In turn, the contract entered into with Millennium Leasing regarding the Polish Green Economy Financing Facility (PolGEFF) supports initiatives aimed at improving energy efficiency, reducing CO2 emissions and providing funding for the acquisition of equipment for generation of electricity from renewable energy sources (MilleSun program – financing of investments in photovoltaic solutions), water management and waste management.

[GRI 203-1] The Bank also offers the Biznesmax Guarantee Program provided in collaboration with Bank Gospodarstwa Krajowego (BGK). Guarantee under the Program are intended to secure loans granted to provide funding for innovative ventures in the SME sector, with a particular focus on eco-efficient companies. A client taking advantage of the “ecological path” of the Biznesmax Guarantee Program may pursue an investment project that involves at least one environmental category, e.g. electromobility, renewable energy sources, including photovoltaic installations, technologies for reducing energy consumption, technologies for producing alternative fuels, circular economy, installations for the recovery of raw materials from production processes, etc.

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 natural environment is an important element considered in the loan application evaluation process. The project is provided in cooperation with Bank Gospodarstwa Krajowego (BGK) within the framework of EU funds. It enables beneficiaries to obtain a non-returnable grant in the form of a technological bonus, which is used by BGK for partial repayment of the loan granted by the Bank.

The Bank supports the sustainable development of companies by participating in the De Minimis Guarantees program executed in cooperation with BGK. A business from the SME sector may use a de minimis guarantee to secure repayment of a loan. High amount of the guarantee (up to 60% of the loan amount and up to PLN 3.5 million) and the financing term of up to 24 months in the case of working capital loans or up to 96 months for investment loans. As a result, the program has enjoyed great interest among clients.

XLS
[GRI FS7, FS8] Value of socially responsible products
 Product portfolio value
(m PLN)		 Number of products
in the portfolio
Loan for Technological Innovations 141.7 24
Leasing Eko Energia 40.6 584
PolSEFF 1.34 5

For more information on the principles of responsible financing of investments, see the “Environment” section.

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