Upgrade of key ratings for Bank Millennium and change the outlook to stable by Fitch rating agency.

Bank Millennium S.A’s (‘Bank’) Management Board informs that on May 28, 2025, Fitch Ratings (‘Fitch’) upgraded the Bank’s Long-Term Foreign-Currency Issuer Default Rating (LT IDR) and Long-Term Local Currency IDR (LC LT IDR) to 'BBB-' from BB+ and changed the outlook for these ratings to ‘stable’. Additionally, Fitch upgraded the Viability Rating (VR) for the Bank to ‘bbb-’ from ‘bb+’ and upgraded the rating for the senior non-preferred bonds issued by the Bank to ‘BBB-’ from ‘bb+’.

According to Fitch “The upgrade reflects a continued reduction in legal risks associated with foreign-currency mortgage loans, resulting in a stronger business profile, as evidenced by steadily improving operating profitability and a record of adequate capital buffers. We believe the bank's medium-term strategy and its execution are no longer significantly constrained by these legacy risks, which are reducing.”

The full list of rating action and the text of the original rating report of Fitch are available at Fitch’s website:

https://www.fitchratings.com/research/banks/fitch-upgrades-bank-millennium-sa-to-bbb-outlook-stable-28-05-2025link otwiera się w nowym oknie

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