Financial and
ESG report 2020

Millennium Goodie

In 2020 the goodie app, which has already been downloaded by more than 2.2 million people, saw record-breaking interest of users in online shopping and goodie cashback programme. During the past 12 months more than 2.7 million online transactions were made in goodie with cashback (+292% y/y) in the amount of more than PLN331 million (+349% y/y). Almost PLN9 million were accrued on goodie cashback accounts (+224% y/y). Since the launch of cashback in goodie 3.4 million transactions were made in the total amount of over PLN413 million, with more than PLN12 million going to the users. Significant results in 2020 were also generated by sales of gift eCards, targeted at private and business customers. No less than 30,000 were sold.  

June saw the completion of work on a new version of goodie in which both the app and the www site acquired a new look, while goodie changed into an even more convenient companion to your shopping. In the new goodie it is much easier to check the balance of your own cashback account, browse fliers and offers for users of 59 different loyalty programmes. An important change in goodie programmes was a more convenient way of adding stamps for purchases and swapping them for prizes. Intensive marketing activities and cooperation with a partner – the Grycan company – led to increase of the number of stamps added in the app.  

During the pandemic goodie has been supporting business partners – shopping centres – by offering free marketing tools and assistance in reaching a selected group of recipients. During operation of the shopping centres it has also been initiating sales-boosting campaigns with prizes for shopping, including goodie eCards.  

The app is continuing its cooperation with Bank Millennium, by offering gift e-Cards as well as increased cashback as an additional benefit when setting up a Konto 360° account. In 2020 it also launched goodie cashback as an integral functionality of the Bank’s mobile app. Additionally in the “Razem pomagamy bardziej!” (Helping more together) campaign, businesses – customers of Bank Millennium affected by the pandemic, could get free advertising in goodie. 

Millennium Leasing

Millennium Leasing Sp. z o.o., a subsidiary of Bank Millennium, was formed in 1991 and is one of the leasing companies with the longest operating history on the market in Poland. Its activities include financing of any fixed assets: passenger cars and trucks, machinery and equipment for most industries, heavy vehicles (for road, rail, water and air transport) and real properties. 

The aggregate value of the leasing agreements disbursed by the company in 2020 amounted to PLN2.5 billion. Signing more than 244 thousand lease agreements from the beginning the company’s existence for a total amount of PLN37.3 billion speaks to the company’s business volume. As at 31 December 2020, the value of capital engaged in in-force lease agreements is PLN6.5 billion, signifying 5.2% decrease y/y. 

As a socially-responsible organization, Millennium Leasing undertakes activities to create awareness and ensure financial profitability of energy-efficient business activity. For this purpose, in the past year, Millennium Leasing encouraged customers to use the offer of financing environmentally-friendly solutions as part of the MilleSun program to finance photovoltaic equipment. The product is offered through a streamlined procedure and selection of a supplier authorized by Millennium Leasing is a factor that makes it easier to receive financing. In 2020, the company used also programs organized by EBRD (PolGEFF). 

In the real estate financing area, Millennium Leasing promoted the Built&Lease product. It is a comprehensive method of financing the process of building and using real properties with manufacturing plants or other large commercial facilities. It combines the benefits of flexible credit financing during the construction period with the operating lease formula after the property is commissioned for use. 

In 2020, Millennium Leasing also started offering electronic signature for clients from corporate banking sector, intending to develop the sale of leasing products through Bank Millennium’s electronic networks and channels.  

Acting through a broker, the company enabled the customers to select services offered by leading insurance companies in order to insure risks associated with the leased assets comprehensively. Millennium Leasing customers were able to choose their preferred options of property insurance, motor insurance (including long-term policies with fixed insurance rates over the entire term of the agreement) as well as additional insurance products. 

The services offered by Millennium Leasing are sold by leasing advisors in 62 outlets across Poland. They are actively supported by relationship managers in retail branches and Bank Millennium’s corporate banking network. As a result, the company offers businesses a broad range of financial services, which include both leasing and banking products. Millennium Leasing advisors are also able to tailor the offer to the individual needs of their clients. Through a well-developed sales network, Millennium Leasing services are available throughout Poland. 

M2020-036 M2020-036

Millennium TFI investment funds

Millennium Towarzystwo Funduszy Inwestycyjnych S.A is a licensed financial institution operational since 2001 as an entity creating and managing investment funds. At the end of 2020, the company managed customer assets worth PLN 4.5 billion. At the end of 2020, Millennium funds had more than 130 thousand participants.  

The main goal of Millennium TFI’s activity is delivering attractive and effective investment solutions to clients and providing professional customer service. The fund managers are consummate professionals with long years of experience and excellent insight into financial markets.  

In 2020, Millennium TFI, by managing funds, faced up to the threats arising from the situation related to COVID-19. Despite the unprecedentedly huge wave of redemptions on the investment fund market, in March and April, Millennium funds carried out all transactions of the Participants without any problems, maintaining the liquidity of assets throughout the period. The operational continuity of the company was also maintained. The transition to the remote work of the employees took place without disturbances for the processes. 

In the first half of 2020, Millennium funds recorded a decrease in assets of a total value of PLN780 million. In the second half of the year, the value of managed assets was systematically rebuilt. At the end of the year, the assets of the funds under management reached the January level. In 2020 most of the investment sub-funds brought participants positive and competitive rates of return compared to other products, up to 20% for the most risky equity strategies. 

At present, Millennium TFI S.A. currently manages four funds: the Open-End Investment Fund with 6 separate sub-funds investing on the Polish market (Millennium FIO), Specialist Open-End Investment Fund with 6 separate sub-funds investing on the global markets (Millennium SFIO), Millennium PPK Specialist Investment Fund with 8 separate sub-funds and the private Millennium Dividend Closed-End Investment fund dedicated to Bank Millennium’s Private Banking customers. Through its open-ended funds, the Company offered participation units in 20 investment sub-funds with different investment strategies and different risk levels.  

In 2020 in cooperation with its partners, Millennium TFI actively participated in the offering of modern system tools to employers to launch and operate Employee Capital Schemes in the 2nd and 3rd phase of the program.

The company’s broad offering includes also various savings products based on the investment funds it manages. Its most popular products include the Millennium Investment Plan, which allows customers to purchase several funds within the pre-defined investment structures, and Individual Retirement Accounts. Millennium TFI is one of the leading fund management companies on the market in terms of the number of managed Individual Retirement Accounts (IKE). Millennium TFI currently manages IKE programs for 33 thousand customers, with the total asset value of PLN400 million. At the end of 2020, the total value of assets invested in various savings products was approximately PLN1 billion. 

Brokerage activity - Millennium DM

The brokerage activity in the Bank Millennium Group is run by Millennium Dom Maklerski S.A.. It renders a broad range of brokerage services, especially the execution of buy or sell orders for financial instruments for the principal’s account, buying and selling financial instruments for its own account, running securities accounts and cash accounts to serve them, investment advisory services, advisory services concerning capital structure and strategy as well as combining, splitting and acquiring businesses, offering financial instruments, rendering services to perform firm and standby underwriting agreements, preparing investment and financial analyses and other recommendations related to financial instruments.  

In 2020, Millennium DM’s turnover on the equity market was PLN 3.46 billion, giving the company 0.6% market share according to the Warsaw Stock Exchange’s data. As at 31 December 2020 Millennium DM had provided services to 24.8 thousand investment accounts and acted as a market maker and as an issuer’s market maker for companies listed on the Warsaw Stock Exchange.  

In 2020, Millennium DM also acted as an intermediary in three stock buyback campaigns of public companies. As a member of a distribution consortium, Millennium DM also participated in several new issues of shares, including the initial public offering of Allegro. 

In 2020, Millennium DM also provided analysis and consulting services to external clients as well as group companies. The most relevant of these included: investment advisory service related to unit-linked insurance funds for one of the leading domestic insurers, due diligence of investment funds and insurance companies cooperating with the capital group, as well as research related to specific sectors, public and private companies. 

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