Financial and
ESG report 2020

Customer assistance programs

The unprecedented crisis caused by the pandemic severely disrupted the operation of the economy and social life. Through an enormous technological and organizational effort, the Bank quickly launched assistance measures for its customers.

BankMillenniumPrivateBanking2b BankMillenniumPrivateBanking2b

Support for individual clients

  • Temporary deferment of loan repayments for distressed cash loan and mortgage loan customers (the entire principal and interest installment is suspended and the loan term is extended by that suspension period). Clients could take advantage of 3- or 6-month credit vacation, or extend the existing 3-month vacation to 6 months. The proposal is available to those clients, who made a written or oral statement about the deterioration of their financial standing because of the epidemiological situation caused by the coronavirus. 
  • Contactless payments up to PLN 100 without PIN – the Bank increased the maximum amount of contactless payments without providing PIN. It provided Visa cardholders with access to Garmin Pay payments, in which the limit does not apply.  

Support for businesses

Temporary deferment of loan repayments for microbusinesses and companies

De minimis guarantees on very attractive terms

Liquidity assistance for medium-sized and large companies

  • Temporary deferment of loan repayments for microbusinesses and companies that experienced temporary problems due to pandemic (suspension of principal and interest installments for up to 3 months, suspension of principal repayments for up to 6 months). The program also covered factoring and leasing.  
  • Interest co-payments, i.e. a loan with partially subsidized interest payments. As part of the program, businesses received an interest co-payment of 2 percentage points, or 1 percentage point, depending on the size of the business. The co-payments were paid out from the Interest Co-Payment Fund managed by BGK. 
  • For factoring products, irrespective of the type of a company, the period of tolerable delay could be extended up to 180 days (recourse factoring or Mille-Link factoring) as well as the maturity of outstanding debt under a receivable financed under reverse factoring. For leasing products, repayment of the principal portion of the lease payment could be deferred or reduced for a maximum period of 6 months. 
  • With regard to leasing customers, upon meeting the same criteria as for banking products, Millennium Leasing offered the possibility of reducing lease payments by an amount corresponding to their principal part for a total period of up to 6 months 
  • ARP Shield in leasing Millennium Leasing was the first leasing company in Poland to sign an agreement with ARP Leasing, regulating the process and documentation required to take advantage of the anti-crisis shield offering. Through this scheme, clients from the transport industry were able to refinance their debt and take advantage of the 12-month repayment grace period offered by ARP Leasing. 
  • De minimis guarantees on very attractive terms as part of the assistance package for small and medium-sized enterprises in cooperation with BGK (up to 80% of the loan amount for a renewal or increase of the loan amount, extension of the term of a guarantee to 39 months for a working capital loan).  
  • Liquidity assistance for medium-sized and large companies – after signing another agreement with BGK, they may benefit from the available support in the form of liquidity guarantees from the Liquidity Guarantee Fund to secure credit transactions.  
  • Participation in the PFR Financial Shield program for micro, small and medium-sized businesses affected by the pandemic. The Bank offered the possibility of applying for the subsidy directly through the Millenet online banking service. The entire process, including delivery of the decision and signing of the agreement with the Polish Development Fund, is done online in Millenet. 
  • Possibility of fully electronic signing of agreements for companies. Digital circulation of documents is based on a qualified electronic signature with a qualified time stamp. It is used for loan agreements and loan collateral, transaction banking, factoring, trade finance and treasury products.   
  • Factoring-based liquidity guarantees The guarantee covers repayment of the client’s liability under the signed reverse factoring agreement. The BGK liquidity guarantee is available to owners of medium-sized and large companies as part of the application to grant a new factoring limit or extend or increase the existing one. 
  • Declaration of participation in the PFR 2.0 Financial Shield which means that companies from selected industries that are in a difficult situation due to the coronavirus pandemic will be able to apply for support under the second Financial Shield of the Polish Development Fund. In January 2021, the Bank will provide a user-friendly solution for submitting applications through the electronic banking system.  

Search results