Financial and
ESG report 2020

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.

M2020-121 M2020-121

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 environmentBank 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. 

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. 

Fund Description
BGF Sustainable Energy Fund  Invests globally at least 70% of its total assets in shares of companies operating in the new energy sector.  
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. 
NN Subfundusz Polski Odpowiedzialnego Inwestowania  It emphasizes “responsible investments”, i.e. analysis of the non-financial dimension of the business, which includes environmental impact, relations with customers, suppliers, employees, or corporate governance. The investment policy rules out investments in companies from selected groups, e.g. those that produce and process lignite and coal. The fund does not invest in the stock of companies, for which the production of cigarettes and alcohol is the only source of income. 
PZU Medyczny  The fund invests mainly in pharmaceutical and biotechnological companies, including drug producers and distributors; medical equipment manufacturers, diagnostic companies and companies financing the health care sector. 


The Bank continues to work on expanding its investment offering available to Clients through electronic banking channels. Among others, it has implemented the possibility of opening and handling the Millennium Investment Program (based on Millennium TFI Funds) and structured deposits through remote channels. Access to investment products in the Millenet system and through the Mobile App reduces the volume of documents printed out in Bank branches, thus reducing the consumption of paper and contributing to protection of the natural environment.  

Corporate clients

possibility of a fully remote signing/use of a qualified electronic signature

90% of trade finance products ordered was delivered electronically

new program for remote signing of lease contracts

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.  

Because of the pandemic in 2020, the Bank focused on the one hand on ensuring continuity of services for its clients, while on the other hand fulfilling its social responsibility mission by responding to new needs of businesses due to the new developments related to the epidemic and the market situation The Bank supported companies in maintaining financial liquidity and it was also involved in the digitization of processes affecting their functioning in conditions altered by Covid-19. Among other things, it performed work promoting the universal acceptance of electronic qualified signatures, reducing the use of hard copy documents and greater use of remote service channels.    

  • In the first half of 2020, the Bank offered the possibility of a fully remote signing/use of a qualified electronic signature with a time marker to sign agreements, applications, confirmations dedicated to corporate banking products. Digital circulation of documents is used for loan agreements and loan collateral, transaction banking, factoring, trade finance and treasury products. This was a new stage of digitization of customer service processes, through which the Bank ensures secure circulation of bank documents, freeing both parties from problems linked to presentation of hard copy documents. In Q4 2020, nearly half of loan agreements was signed electronically. 
  • In 2020, the use of remote channels increased dynamically; the number of accounts opened by clients by themselves in the Web application increased to 87% and more than 90% of trade finance products ordered was delivered electronically via the Trade Finance online platform (this concerns guarantees and letters of credit).  
  • In leasing, in connection with the fact that a contract must be signed in writing, otherwise being null and void (Art. 709(2) of the Civil Code), the main challenge was to ensure continuity of business processes (signing of new contracts and mass annexation of existing contracts) in the remote working conditions caused by the pandemic. In Q2 2020, Millennium Leasing launched a new program for remote signing of lease contracts using a qualified electronic signature and ensured its adoption among clients.   

The Bank also took a number of measures to support businesses in automating the transaction and settlement handling processes for the period of the pandemic and thereafter. As a result of the Bank’s commitment to safety and convenience of its clients, it offered them the possibility of carrying out all banking operations in the Millenet for Corporates banking system supplemented by the mobile app functionality.  

The Bank continued to develop the offering of its electronic banking channels, driven by its business strategy as well as changes in the applicable law. The key assumption was a parallel development of electronic channels in the areas of direct interaction with customers and host to host integration, which enables automated exchange of information. For clients using its factoring services, the Bank has introduced and continues to develop a functionality supporting direct communication between the client’s financial and accounting system and the bank’s factoring system through web services. Clients are able to save costs and time of handling their operations, while eliminating errors and mistakes in the data exchange process and maintaining high level of safety. In order to support the social distancing recommendation, since March, the limit of contactless payments without PIN for corporate cards has been raised to PLN 100.  

In an effort to help distressed businesses during the pandemic, the Bank became heavily involved in providing support mechanisms. Detailed information is provided in Chapter II. MILLENNIUM IN THE AGE OF CORONAVIRUS, item 2.2 Support for businesses.  

Environmentally and socially responsible lending

The 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 projects affecting 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.  

Millennium Leasing has been continuously involved in the funding of energy-saving projects. For this purpose, it has used programs organized by EBRD (European Bank for Reconstruction and Development) and has refunded part of financing costs to customers with its own funds.  In 2020, the company focused on developing MilleSun – a program dedicated to the financing of photovoltaic projects. The leasing of solar panels is a solution targeted at businesses who want to change views of the public on the environmental protection and build an environmentally-friendly image.  In photovoltaic panel leases, Millennium Leasing has been cooperating with leading, reliable suppliers of solar installations, offering safe financing on preferential terms and a very simplified leasing process to finance eco-friendly projects. 

[GRI 203-1] The Bank also offers the Biznesmax Guarantee Program provided in collaboration with Bank Gospodarstwa Krajowego. Guarantees 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. Clients may use, among other things the “eco path” supporting the potential of innovative companies, which carry out or plan to carry out environmentally-friendly investment projects. Projects from the following areas are considered to be environmentally-friendly: circular economy, electromobility, renewable energy sources, alternative fuel production technologies, energy storage, technologies reducing the consumption of electricity or heat or thermo-modernization of residential or commercial buildings. Under the Smart Growth Operational Programme (SG OP), guarantees are granted to secure repayment of investment loans up to 80% of a loan/up to EUR 2.5 million. The term of validity of the guarantees is as long as 20 years. Biznesmax guarantee are totally free of charge to clients.  

Loan for Technological Innovations provided in collaboration with BGK as part of Sub-Action 3.2.2. of the Smart Growth Operational Programme. The purpose of the program is to support innovative projects among SME sector entitles; it enables beneficiaries to obtain a non-returnable grant in the form of a technology bonus, which is used for partial repayment of the loan. The bonus amount may reach up to 70% of expenditures for micro and small businesses and up to 60% for medium-sized enterprises. The purpose of the loan is implementing new own or purchased technology and launch on its basis new or significantly improved products, processes or services. A positive impact on various aspects of the natural environment and implementation of the sustainable development principle is a significant factor in the evaluation of applications. 

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

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