Press news

Bank took a decision to change its name to Bank Millennium SA

19.11.2002


On November 18 2002 the Supervisory Board of BIG Bank GDAŃSKI S.A. approved the motion of the Management Board to change the name of BIG Bank GDAŃSKI SA to Bank Millennium S.A.

This decision has been the effect of consistent implementation of the new development strategy of the Bank, which was inaugurated with the launch of the modern retail banking network under the name of Millennium in 1998. The new market segmentation made in the subsequent years and creation of the specialised business lines to serve specific client groups under the brand and within the customer service concept introduced by Millennium: Millennium Biznes (small business) and Millennium PRESTIGE (affluent Clients), and also Towarzystwo Funduszy Inwestycyjnych (Investment Fund Company) under Millennium brand as well, were essential steps strengthening the position of this brand on the financial services market.
 
At the same time, within the restructuring programme of the Bank the implementation process of the advanced operational system, which allows service of Clients from all the business lines according to newly shaped standards and based on the modified product offer, was completed. Also the Bank's network of outlets was reengineered - new, small Millennium branches serving individual Clients and small business were created, whereas traditional outlets were adjusted to this customer service standard or transformed into corporate business centres. Ultimately, with completion of organisational changes, the conditions were created to introduce uniform visual identity and change the name of the Bank.
 
Business operations under the Bank Millennium brand will allow consistent implementation of the business and marketing strategy of the Bank based on the integrated structure of customer service within specialised business lines: Millennium (individual Clients), Millennium Biznes (small business), Millennium Prestige (affluent individual Clients), Bank Millennium Bankowość Przedsiębiorstw (mid and large corporate Clients) and TFI Millennium. In the future the other brands of BIG Bank GDAŃSKI S.A. Group will be adjusted to the new identification of the Bank.
 
The decision abut the change of the Bank's name had been preceded by specilised marketing studies among the Clients of the Bank, which demonstrated a high level of acceptance of the Millennium brand both as a synonym of modern financial services and as a name for a large bank with universal structure of products and services. The universal nature of this name, its modern visual aspect and specially designed choice of colours, and friendly and modern character of the logo adjusted to its new role were highly appreciated.

The consistent policy of Millennium brand market positioning supported by actions for high quality of product and services offered by all the lines using this name, has materially improved its grades under the category "modernity" and "care for the Client".
Particular noteworthy is the increase in the trust to Millennium as an institution offering reliable and safe banking services. Millennium Clients emphasised a big development potential related to the services provided by Millennium and the aspiring character of its operations. In total, the assessment of Millennium operations - understood as a group of brands offering specialised banking services - matched the set of values created four years earlier, based on which this network was built.
 
The decision to change the name of the Bank is of strategic character. It closes the fundamental stage of the implementation of the Bank's new development strategy, which has brought in more universal offer, essential improvement of operational efficiency and introduction of new sales and network development policy. It is also a specific commitment towards the Clients, who while accepting the changes made so far, expect from Bank Millennium further, fast development of modern financial services.