Bank Millennium is engaged in case-by-case arrangements with customers regarding terms of loan repayment or currency conversion, taking into consideration the particular situation and expectations of each customer. Bank Millennium has always been talking with its customers and offering solutions adjusted to their needs. During 2010-2015 customers were largely interested in changing the property, which is collateral to the loan, while in 2015-2020, due to strong growth of salaries during that period, first of all in making early repayment, hence enquiries concerned the possibility of offering a more favourable exchange rate. Since 2020, due to strong reduction of WIBOR, customers are mainly seeking an opportunity to convert currency of the loans to PLN, eliminating FX risk and maintaining a still low monthly payment. The bank’s proposal is prepared for customers on a case-by-case basis. The interest on part of customers is significant in our opinion. During 2020 the number of active agreements fell to 57.8 thousand by almost 6%, with full repayment and voluntary currency conversion accounting for 80% of that decrease.
Solutions for fx mortgage borrowers
Bank Millennium is currently serving 2.6 million active retail customers. The number of active agreements regarding FX mortgage loans is 57.8 thousand (without former Euro Bank).