Financial and
ESG report 2020

Investor relations

Communicating with the investors’ community the Bank assures a high level of transparency and proper access to information for all its recipients.

Accurate and up-to-date information is provided in keeping with relevant legal regulations. The list of information published by the Bank, defining the frequency and place of publication, is available on the Bank’s website in the Investor Relations section – in section of Information Policy Information policy of Bank Millennium – Bank Millennium

The investor relations website Investor relations – About the Bank – Bank Millennium always provides up-to-date information, including Bank Millennium share prices on the WSE, shareholding structure, details of General Meetings, dividend payment history or credit ratings. There are also current and periodic reports, financial results presentations, .xlsx sheets with key financial information and other important information about the Bank. It is worth noting that the website is responsive, which means that it is adapted to mobile devices – tablets and smartphones. 

The Bank makes use of diverse communication channels to reach current and potential Shareholders, primarily such channels as: 

  • Periodic conferences with the Management Board about quarterly results of the Bank’s Capital Group (4 during 2020), 
  • Participation in conferences organised for Investors in Poland and abroad (9), 
  • Face-to-face and group meetings with capital market participants (434 persons), 
  • Current reports (32) and press releases, 
  • Dedicated website in the Bank’s portal on investor relations, 
  • Encouraging participation in annual General Meetings of the Bank, 
  • Day-to-day contacts with market participants (via e-mail or phone). 

In keeping with best practice on equal access to information from 2006 the Bank has been assuring unrestricted access to results conferences online with the Management Board (video streaming in Polish and in English) and by phone. A recording of each conference is available on the Bank’s website. The Bank also provides video streaming of General Meetings. A recording of the deliberations and the resolutions adopted are also available on the website.  

In 2020 14 analysts representing local and foreign brokerage houses published reports and recommendations regarding the Bank’s shares (their list can be found on the Bank’s website in the Investor Relations  in Analysts section Analysts – Investor relations – Bank Millennium 

At YE20brokerage houses’ recommendations for Bank Millennium shares were as follows: 

Buy Hold  Sell 
6 5 3


In 2020, the Bank complied with the corporate governance principles contained in the document 'Good practices of companies listed on the WSE' in the scope of relations with investors and the market. The only exception was the lack of two-way communication in real time during the Bank’s General Meeting. In the Bank’s opinion the implementation of this rule during a General Meeting carries technical and legal risks to the correct and efficient conducting of a General Meeting. In the Bank’s opinion, avoiding these risks constitutes a bigger value for the Shareholders. At the same time, the Bank does not rule out the possibility of ensuring to the shareholders real-time two-way communication during the proceedings of General Meetings in future, should factual or legal circumstances change. Full information on compliance with corporate governance principles can be found in Chapter 9 of this report. 

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