Financial and
ESG report 2020

Relations with the capital market

Bank Millennium is the first Polish bank listed on the Warsaw Stock Exchange (since 1992). Presently, the Bank is a member of the WIG Index, WIG 30, mWIG 40, WIG Banks and WIG-ESG.

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Fast and accurate information for investors

The priority in investor relations is to provide fair and timely information concerning the strategy, business and financial performance of the overall Bank Millennium Group. The list of communications published by the Bank Group, including their frequency and place of publication, is available on the Bank’s website in the Investor Relations section https://www.bankmillennium.pl/o-banku/relacje-inwestorskie.  

The website presents up-to-date information, e.g. listings of the Bank Millennium’s shares on the WSE, the company’s shareholder structure, General Meetings, history of dividend payment or credit ratings. Current and periodic reports, presentations of results, .xlsx spreadsheets with key financial information and other relevant information about the Bank can also be found there. It is worth noting that the website is responsive, which means that it is adjusted to mobile devices: tablets and smartphones. 

[GRI 102-43] The Bank uses various communication channels in order to reach present and prospective shareholders, mainly such as: 

  • regular conferences with the participation of the Bank’s Management Board on the quarterly performance of the Bank Group (4 in 2020), 
  • participation in conferences organized for investors in Poland and abroad (9), 
  • individual and group meetings with capital market players (434), 
  • current stock exchange reports (32) and press releases, 
  • dedicated website in the Bank’s portal on investor relations, 
  • encouraging participation in the Annual Shareholder Meeting, 
  • ongoing contacts with market participants (by e-mail or telephone). 

To ensure best practice in equal access to information, since 2006 the Bank has enabled unlimited access to these conferences via the web (video transmission in Polish and English) and by telephone. A transcript of every conference is available on the Bank’s website. The Bank also offers a webcast of the Shareholder Meeting. A transcript of the discussion and resolutions is also available on the Bank’s website. 

Meetings with capital market players 2020 2019 2018 2017 2016
Number of meetings  123  168  155  183  192 
Number of participants  434  360  355  373  391 

 

Bank Millennium is analyzed by 14 analysts who represent local and international brokerage offices and publish their reports and recommendations for Bank Millennium’s shares. A complete list of the analysts is available on the Bank’s website https://www.bankmillennium.pl/o-banku/relacje-inwestorskie/analitycy   

At the end of 2020, the recommendations for Bank Millennium’s shares are as follows: 

Buy Hold Sell
6  5  3 

 

ESG Best Practices

The Bank operates based on good ESG (Environmental, Social, Governance) practices and observes corporate governance principles. The Company is included in the WIG-ESG – the index of socially responsible companies listed on the Warsaw Stock Exchange – and reports on corporate social responsibility issues. 

Best corporate governance practices

The Bank satisfies all the corporate governance principles described in the document “Best Practices for WSE Listed Companies”. In accordance with the “comply or explain” principle, a breach of any of the principles described in the Best Practices should be publicly announced by the Company in the form of a relevant report. In 2019, the Bank complied with the corporate governance principles described in the document entitled “Best Practices for WSE Listed Companies”. The only exception to this rule was the absence of two-way communication in real time during the Bank’s Shareholder Meeting. In the Bank’s opinion, the implementation of this principle entailed technological and legal risks to the proper and efficient conduct of the Shareholder Meeting. The Bank was convinced that avoiding these risks would provide the shareholders with a greater benefit. 

Bank Millennium in the WIG-ESG

Since September 2019, Bank Millennium has been included in the WIG-ESG index of the Warsaw Stock Exchange. In 2010-2019, the Bank was part of the Respect Index. 

The WIG-ESG index is published on the basis of the value of the portfolio of companies considered to be socially responsible. The index includes 60 companies included in the WIG20 and mWIG40 indices. The weights of individual companies in the WIG-ESG index depend on the number of shares in free float adjusted for the results of the ESG ranking prepared by Sustainalytics and an assessment of their application of corporate governance principles.  

In 2020, the Bank was rated highest again in terms of environmental, social, economic and corporate governance issues (ESG 1.0) as well as compliance with the Code of Best Practice (KDP 1.0). 

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