Financial and
ESG report 2020

Brief description of Bank Millennium Group

Bank Millennium S.A. (‘Bank Millennium’, ‘Bank’) was established in 1989 as one of the first Polish commercial banks. It is now one of the top 7 commercial banks in Poland in terms of assets and offers its services to all market segments via a network of branches, a network of personal advisors as well as electronic and mobile banking.

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Ever since the start of its activity it has been a trendsetter in Polish banking. For example it was the first Bank to be listed on the Warsaw Stock Exchange and issued the first payment card on the Polish market. The bank satisfies most stringent standards of corporate governance; it implements social programmes to support culture development as well as education of the youth. 

Bank Millennium is a market leader in the area of innovations understood to mean state-of-the-art technology and process improvements. Innovation in Bank Millennium is part of its business strategy.  

Bank Millennium, together with its subsidiaries, forms Bank Millennium Group (‘BM Group’, ‘Group’) – one of the most innovative and comprehensively developing financial groups in Poland – employing in total 7,493 persons (FTE). 

Its most important companies are: Millennium Leasing (leasing business), Millennium Dom Maklerski (brokerage business)Millennium TFI (mutual funds) and Millennium Bank Hipoteczny (obtaining long-term financing through the issue of covered bonds)Since 2016 Millennium Goodie Sp. z o.o. together with the Bank has been operating a smartshopping platform based on advanced technology. The offering of the above-mentioned companies complements the services and products offered by the Bank.  

On June 9, 2020 Polish Financial Supervision Authority (‘PFSA’) issued a permission to Millennium Bank Hipoteczny S.A. and on July 9, 2020 the company Millennium Bank Hipoteczny S.A. was established with Bank Millennium being its sole shareholder. Currently, Millennium Bank Hipoteczny S.A. is in the process of obtaining an approval from the PFSA to commence operating activities. 

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Business model

Bank Millennium operates on the basis of a business model which rests on five pillars: 

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We are the most client-centric bank, which keeps developing. We want to be the most personalised bank on a mass scale. 

We are a digital banking leader, offering a combination of broad outreach and high quality of services. 

We are growing fastest among banks as regards acquisition of customer with a main relationship.  

We have a cutting-edge cost-effective model built on state-of-the-art technology and flexible in changing to follow growth of the Bank’s scale. 

We have a flexible operating model; an organisational culture, which allows short reaction times as well as digital and data analysis skills. 

The business model is founded on key values: building relationships based on trust, a passion for quality and innovation, people development and promoting cooperation as well as the ambition to always aim higher. 

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