Reliable marketing communication

[GRI 103-1], [GRI 103-2], [GRI 103-3], [GRI 417-1] In the process of developing marketing communication we adhere to the following principles: Bank Millennium’s advertisements are not misleading and show the important features of the products and services and related benefits and costs. They also depict their legal nature and provide information about the level of possible risk carried by the client. If the message pertains to a promotional offer, its conditions are specified. Clients are also advised on where they can obtain detailed information regarding a given promotion.

Marketing materials prepared by Bank Millennium are compliant with the laws and regulations applicable to this area, including in particular:

• the Recommendations laid down by the Code of Ethics in Advertising devised by the SAR Marketing Communication Association,
• the Principles for Advertising of Banking Services of 2008 laid down by the Polish Financial Supervision Authority,
• the Best Practices on consumer loans advertising standards of the Polish Bank Association of 2015,
• Provisions of the amended Consumer Credit Act of 22 October 2017,
• Mortgage Loan and Supervision of Mortgage Loan Intermediaries and Agents Act,
• Act on Trading in Financial Instruments,
• Internal instructions applicable to devising of informational and advertising materials for banking products and services in Bank Millennium as well as the rules for devising commercial publications for the financial products and instruments in Bank Millennium.

Millennium TFI advertises products solely on its website and through distributors of units. The method of advertising products complies with the provisions of law regulating the operation of investment funds and investment fund management companies and the guidelines of the Polish Financial Supervision Authority. To the extent to which product advertising is not subject to detailed regulations TFI submits to the standards of the Bank Millennium Group, including standards of ethics and it does not use messages that are forbidden by law in its advertising.

TFI has adopted for application the Corporate Governance Principles for Supervised Institutions and it strives to adhere to them in reference to practices pertaining to advertising messages. TFI submits to the standards of the Bank Millennium Group in all other aspects.

Millennium Dom Maklerski advertises products on its website and through its agent (Bank Millennium). Standards of advertising ethics are contained in appropriate internal regulations of Millennium Dom Maklerski specifying requirements to be met by all communication directed by a brokerage house to clients and prospective clients, disseminated for the purpose of advertising or promotion of provided services. In this respect Millennium Dom Maklerski applies the standards following from the Code of Best Practices of Brokerage Houses.

[GRI 417-3] In 2021, there were no cases of non-compliance by Bank Millennium, Millennium TFI, Millennium Dom Maklerski, Millennium Leasing and Millennium Bank Hipoteczny with regulations relating to marketing communications. As a result of the administrative proceedings launched by the Voivodship Pharmaceutical Inspectorate in Gdańsk, a fine of PLN 5,000 was imposed on the company doing business as Millennium Goodie. The Inspectorate found that the website goodie.pl, which presents discount offers for many different brands engaged in an illegal advertisement of pharmacies whereby information containing discount codes and the promotions of two pharmacy networks along with links redirecting people to the websites of these pharmacies was placed there. Millennium Goodie stopped the advertising immediately after the Inspectorate launched the proceedings.