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Financial and ESG Report
2021
2020
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Management Board Report
Letter from the Chairman of the Management Board
Brief description of Bank Millennium
Highlights of results and achievements in 2021
Summary of consolidated Group results in 2021
Main awards and achievements in 2021
Information for investors
Share price performance
Bank Millennium’s ratings
Investor relations
Dividend policy
Market conditions and macro risk factors
Macroeconomic environment
Factors of uncertainty for the economy and Bank Millennium Group
Polish banking sector and BM/BM Group’s position
Strategy and business development prospects
2021 strategy and its delivery
2022 – 2024 strategy
2022 outlook
Financial situation
Profit and loss account
Results of business segments
Balance sheet and off – balance sheet items
Presentation of business activity
Innovation and highest quality of positive customer experience
Retail banking
Corporate banking
Subsidiaries’ activity
Risk management
Risk management
Capital management
Credit risk
Other risks
Legal risk related to fx-mortgage loan book
Further risk factors
Human resources management
Personnel policy
Employment and staff costs
Remuneration policy
Principles of corporate governance at Bank Millennium
Statement on the principles of corporate governance applied in 2021
Shareholders and general meeting of shareholders
Supervisory board
Management Board
Internal control system and external auditor
Activities in the ESG area: environment, society and governance
Additional information
Statements of Management Board
ESG Report
Letter from the Chairman of the Management Board
Bank Millennium and the Bank Millennium Group
Profile of the organization
Profile of the organization – introduction
Scale of operations
Shareholders
Economic performance
Mission and values
Business model and the value creation model
ESG is an integral part of the new strategy for 2022-2024
Description of significant types of risk in the ESG area
Selected awards and distinctions
Defining the content of the report – dialogue with Stakeholders
Environment
Environmental impact management
Environmental impact management
Climate issues in the Bank Millennium Group’s strategy
Environmental policy of the Bank Millennium Group
Climate – key risks and new opportunities
Reduction of the environmental impact of the Bank’s operations
Reduction of the environmental impact of the Bank’s operations – introduction
Reduction of resource consumption
Greenhouse gas emissions
Environmentally-friendly products and responsible financing
EU taxonomy
Fulfilling the reporting requirements
Environmental education
Society
Banking inspired by people
Banking inspired by people – introduction
Innovative services
Innovative services
Offer designed to meet clients’ needs
Banking without barriers
Service and support for clients in the COVID-19 pandemic second year
Top quality customer service
Customer service standards
Recognizing client expectations
Complaints management
Cybersecurity
Initiatives to enhance clients’ financial awareness
Responsible advertising and sales
Reliable marketing communication
Transparent information about products and services
Ethical standards in client service
Settlements and other solutions for foreign currency loan borrowers
Responsible employer
Responsible employer
Headcount structure
Working conditions
HR policy
Compensation policies
Significant risks related to the employee area
Supporting diversity and counteracting discrimination
Freedom of association
Employee appraisal
Recruitment and professional development
Social benefits
Friendly workplace
Employee health and safety
Measures continued in connection with the COVID-19 pandemic
OHS standards
Bank in social environment
Social environment
Communication with stakeholders
Socially beneficial activities
Socially beneficial activities – introduction
Education programs of the Bank Millennium Foundation
Charitable campaigns and employee volunteerism
Patronage of culture
Supporting education
Supporting diversity
Governance
Management
Application of corporate governance principles
Governance structure
Management approach to sustainable development
Risk management
Ethical standards and human rights
The Bank in the market environment
Relations with the capital market
Cooperation with trade organizations
Business partners
Tax policy
Corporate safety
Safety of client funds
Safety of client funds – introduction
Safety of information and transactions
Protection of personal data
Fraud prevention
Anti-money laundering and countering terrorism financing (AML/CTF)
Preventing conflicts of interests
Anti-corruption
Internal control system
Compliance
Internal audit
About the report
Approach to reporting
Accounting act compliance table
GRI standards content index
Contact data
Consolidated Financial Statement
Financial highlights
Consolidated Income Statement
Consolidated Statement of Total Comprehensive Income
Consolidated Balance Sheet
Consolidated Statement of Changes in Equity
Consolidated Cash Flow Statement
General Information about Issuer and the Issuer’s Capital Group
Accounting Policy
Statement of compliance with the International Financial Reporting Standards
Standards and interpretations applied in 2021 and those not binding at the balance sheet date
Adopted accounting principles
Financial Risk Management
Financial Risk Management – introduction
Risk management
Capital management
Credit risk
Market risk and interest rate risk
Liquidity risk
Operational risk
Operational Segments
Transactions with Related Entities
Transactions with Related Entities
Description of the transactions with the Parent Group
Transactions with the Managing and Supervising Persons
Information on compensations and benefits of the persons supervising and managing the Bank
Fair Value
Contingent liabilities and assets
Lawsuits
Off – balance items
Legal risk related to foreign currency mortgage loans
Court claims and current provisions on legal risk
Events that may impact FX mortgage leagal risk and related provision
Notes to the Consolidated Financial Statements
Supplementary Information
2020 Dividend
Data about assets, which secure liabilities
Securities covered by transactions with a buy-back clause (SBB)
Offsetting of assets and liabilities on the basis of ISDA agreements
Additional explanations to the cash flow statement
Information on custody activity
Share based payments
Impact of COVID -19 pandemic on activity of Bank Millennium Group
Additional information and other essential events between the date, for which the financial report was prepared and its publication date
Capital Adequacy
Interactive KPIs
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Consolidated Financial Statement
Legal risk related to foreign currency mortgage loans
Legal risk related to foreign currency mortgage loans
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