Basic information about Bank Millennium


Bank Millennium was established in 1989 as Bank Inicjatyw Gospodarczych. In 1997 it changed its name to BIG Bank GDAŃSKI and in 2003 to the present name. Bank Millennium is a nationwide universal bank, offering its services to all market segments through a network of branches, individual advisors and electronic banking.

We have built our knowledge of the Polish financial market upon the many years of experience in providing services to corporate and individual customers, enriched by the financial know-how and international expertise contributed by Banco Comercial Portugues (Millennium bcp)link opens in a new window - Portugal's largest commercial bank and Bank Millennium's strategic shareholder (owner of 50.10% of the Bank's shareholding).

The Bank is the core of the Bank Millennium Group, which also comprises: Millennium Leasinglink opens in a new window, Millennium Dom Maklerskilink opens in a new window, Millennium Towarzystwo Funduszy Inwestycyjnychlink opens in a new window. Thanks to its subsidiaries and partners the Bank has for many years been present on all financial markets, thus delivering to Customers comprehensive financial services, all in one institution.

The mission of Bank Millennium is to support our customers to succeed in their financial present and future. The Bank's goal, stemming from its mission, is to deliver premium quality universal financial services to all customer groups and live up to the development challenges of Poland's financial services market, which should bring constant increase of the Bank’s value to Shareholders.

Bank Millennium is listed on the Warsaw Stock Exchange since 1992, first Bank ever to float its shares on the WSE.

In February 2010 the issue of rights to L-series shares under public offering was effectively concluded. As a result of the issue, the Bank increased its own capital by more than 1 billion PLN, thus strengthening its solvency ratio, both for the Bank solo and the Group and soon began to implement the new business strategy for 2012-2014 called “Rebalancing the business model for profitability”.

Then, in 2015 the Bank updated strategy for years 2015-2017 with main goal to focus on profitability preservation, while keeping organic growth target.

Approaching the end horizon of previous 2015-17 Strategy and with most important targets delivered (like number of active customers, market share in retail customer funds and cost-to-income ratio), the Bank adopted main directions of the new strategy for the period 2018-2020. Favourable macroeconomic background as well as fast changing trends in the banking environment made the starting point to this strategy. Successful realization of 2020 strategy should bring Bank Millennium higher scale with strong growth, superior cost efficiency and top-of-industry shareholders’ return.

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 another year and prepare a new one for the years 2022-2024.

In the 2022 - 2024 strategy (‘Strategy’) announced by the BM Group on December 6, 2021 (details here: 2022-24 Strategy_outlinelink opens in a new window and 2022-2024 Strategy_presentationlink opens in a new window), the BM Group concentrates on its response to growing post-pandemic expectations of customers and shareholders. By 2024, we aspire to reach PLN2 billion net profit (excluding costs related to FX mortgage loans portfolio) and ROE before such costs of around 14%. The improvement of efficiency ratios and business growth are to be driven by a continued increase of the number of active customers (to more than 3 million in 2024) as well as enhancements to cost-effective and scalable operational platform (cost-to-income ratio below 37% in 2024).