Bank Millennium
Polish bank
From Wikipedia, the free encyclopedia
Bank Millennium S.A. is a commercial bank based in Warsaw. It is one of the most systemically important banks in Poland.[1]
| |
 A branch of Bank Millennium in Katowice | |
| Formerly | Bank Inicjatyw Gospodarczych |
|---|---|
| Type | Spółka Akcyjna |
| WSE: MIL | |
| Industry | Finance and Insurance |
| Predecessor | BIG Bank Gdański |
| Founded | 1989 |
| Headquarters | , |
Area served | Poland |
| Key people | Joao Bras Jorge CEO |
| Products | Financial services |
| PLN 23m (2020) | |
| Owner | Banco Comercial Português (50,1%) |
| Subsidiaries | Euro Bank, Millennium Leasing, Millennium Dom Maklerski, Millennium Towarzystwo Funduszy Inwestycyjnych, Goodie, Millennium Bank Hipoteczny |
| Website | https://www.bankmillennium.pl |
Originating in the 1997 merger of Bank Inicjatyw Gospodarczych (lit. 'Bank of Economic Initiatives') and Bank Gdański (lit. 'Bank of Gdańsk') to form BIG Bank Gdański, it has been majority-owned by Lisbon-based Banco Comercial Português since 2000 and adopted the Millennium brand in 2003. In 2018, it was the 7th bank in Poland in terms of asset value.[2][better source needed]
History
Predecessors and 1997 merger
Bank Inicjatyw Gospodarczych (BIG SA) was established in 1989. Initially, 98% of shares in it were owned by Warta, Poczta Polska, PZU, Universal and Transakcja foreign trade headquarters (KC PZPR and ZSMP), and 2% were held by natural persons.[3] In 1992 the Bank's shares debuted on the Warsaw Stock Exchange, the first public offering of a financial institution in Poland since the end of the Communist system.
Bank Gdański was one of nine banks spun off in the late 1980s from the National Bank of Poland, the culmination of a sequence of reforms during the 1980s that brought an end to the country's single-tier banking system.[4]: 18 It was reorganized in 1991 as a joint-stock corporation.
In 1997 BIG merged with Bank Gdański to form BIG Bank Gdański, and Banco Comercial Português (BCP) acquired a 44.1-percent stake in the merged entity while Eureko acquired a further 15 percent.[5]: 23 . A year later, in cooperation with BCP, BIG Bank Gdański launched the Millennium retail service network.
Later developments
By 2018, BCP held 50.1% shares of Bank Millennium.[6][7]
May 31, 2019 Bank Millennium S.A. took over Euro Bank as a result of acquiring about 99.79% of the shares that were bought from Société Générale. On September 10, 2019, the Polish Financial Supervision Authority (KNF) granted permission to merge banks. On October 1, 2019, there was a legal merger, Bank Millennium and Euro Bank became one bank.[8]
Operations
The bank offers its services through a network of branches, online, phone and mobile banking to personal customers (in Retail, Prestige and Private Banking segments), to sole traders and microbusinesses as well as medium and large companies in the corporate banking segment.
In 2020, the bank had over 2.6 million active individual customers. In its development strategy, the bank focuses on modern service channels. The number of clients actively using electronic banking exceeded 2 million in 2020, and from the Millenet mobile and mobile application 1.7 million (+ 18% y/y).[9]
Apart from the bank the most important companies in the Group are: Millennium Leasing (lease business), Millennium Dom Maklerski (brokerage business), Millennium TFI (mutual funds) and Millennium Goodie. The offerings of these companies complement the services and products offered by the bank. Joint Stock Company listed since 1992 on the Warsaw Stock Exchange in Warsaw. The bank's shares are included in WIG 30 and Respect Index indexes.[10] Bank Millennium is now included in the FTSE4Good Emerging Index, which comprises companies from more than 20 countries, which stand out in terms of environmental efforts, corporate social responsibility and corporate governance.[11]
Governing bodies
- Management Board
- Joao Bras Jorge – Chairman of the Management Board
- Fernando Bicho – Deputy Chairman of the Management Board
- Wojciech Haase – Member of the Management Board
- Megan Hardman – Member of the Management Board
- Andrzej Gliński – Member of the Management Board
- Antonio Pinto – Member of the Management Board
- Wojciech Rybak – Member of the Management Board
- Jarosław Hermann – Member of the Management Board
- Supervisory Board
- Bogusław Kott – chairman,
- Nuno Manuel da Silva Amado – deputy chairman,
- Dariusz Rosati – deputy chairman and Secretary,
- Miguel de Campos Pereira de Bragança – Member of the Supervisory Board
- Agnieszka Hryniewicz-Bieniek – Member of the supervisory board (independent member)
- Anna Jakubowski – Member of the supervisory board (independent member)
- Grzegorz Jędrys – Member of the supervisory board (independent member)
- Andrzej Koźmiński – Member of the Supervisory Board
- Miguel Maya Dias Pinheiro – Member of the Supervisory Board
- Lingjiang Xu – Member of the Supervisory Board
- José Miguel Bensliman Schorcht da Silva Pessanha – Member of the Supervisory Board
- Alojzy Nowak – Member of the Supervisory Board[12]
The Bank in numbers
- Assets: 97.1 bn PLN
- Equity: 9.091 bn PLN
- Total deposits: 81.5 bn PLN
- Total loans: 74.088 bn PLN
- Net profit: 23 mil PLN
- Return on Equity (ROE): 0.2%
- Total Capital Ratio (TCR): 19.5%
Shareholder structure
As of 31 December 2025, the bank's main shareholders are:[13]
- Banco Comercial Português 50,10%
- Nationale-Nederlanden OFE 9,72%
- Allianz Polska OFE 8,09%
