2021 strategy and its delivery

The unprecedented scale of change of the business environment caused by the outbreak of COVID-19 pandemic in early 2020, combined with dynamic changes of customers’ behavioural patterns have dramatically increased the challenges that banks face, limited the visibility and increased uncertainty to an exceptional level. As a result, the BM Group decided to extend its 2018-20 strategy by additional year and prepare a new one for the years 2022-2024.

The vast majority of the targets set for 2021 was achieved, many actually overachieved as shown below.

• Improvement of business results through better pricing and sales increase in core products
• Double-digit growth of cash loan sales
• Mortgage sales above PLN7bn
• Corporate loan book growth >PLN1.1bn

• New operational efficiency program: Processes Re-engineering, automatisation, standardisation and simplification
• # radical productivity
• Fine-tuning of branch network after 21% reduction in 2020
• C/I of c.a. 47%

• Extending digital customer base beyond current age segments
• Exceeding 80% digital clients by the end of YE21
• 80% end-to-end sales processes coverage on digital platforms
• Keeping top-notch customer digital experience

Additionally, Millennium Bank Hipoteczny, a mortgage bank, commenced its operating activity in 2021 as planned, allowing a start of preparations to transfer mortgage loans.