Bank Millennium reported good financial and business results in 1Q26

I am pleased to announce that the first quarter was a strong start to the year. Bank Millennium delivered a solid financial result, with net profit of PLN 301 million, visible business growth and a further strengthening of our capital position. We continued to execute our growth strategy with discipline. Client acquisition remained strong, while client funds continued to grow, both in savings and investments. Our retail customer base reached 3.3 million clients and the number of active digital users exceeded 3.1 million. At the same time, we remained fully focused on the quality of service across all channels. This was recognised externally, with Bank Millennium receiving the Złoty Bankier award. We also continued to develop our IT systems and applications, while maintaining a strong focus on system security and customer education – Joao Bras Jorge, Chairman of Bank Millennium commented on the results.

The loan portfolio grew by 2% q/q, raising the y/y growth rate to 5%. Growth in the corporate portfolio accelerated further (+28% y/y), with corporate loans per se increasing by 40% y/y. Despite unfavourable seasonality, investment loans represented approximately one quarter of newly originated loans in 1Q26. The leasing business also recorded a strong recovery following a period of stabilisation, with the portfolio expanding by 2% q/q and 6% y/y.

In Corporate Banking, the first quarter was another transformative period, marked by a significant increase in newly granted loans. Bank Millennium further strengthened its position among the fastest-growing banks in corporate banking, with more than 50% of loan growth generated with new clients. This is particularly important, as it confirms both the quality of our commercial activity and our growing ability to attract new corporate relationships. The response from corporate clients to our services in credit, leasing, factoring and transactional banking has been very positive. This confirms that our strategy is working and that we are building stronger, broader and more valuable relationships with our clients – added Joao Bras Jorge, Chairman of Bank Millennium.

The retail loan portfolio increased marginally during the quarter, while negative y/y dynamics eased to -2%. The decline continued to be driven primarily by the rapidly shrinking FX‑mortgage portfolio and PLN mortgages. A reversal of trend was, however, observed in the PLN mortgage book, which grew by 1% q/q, reflecting very strong origination in 1Q26 of PLN2.2 billion (+79% y/y). Momentum in the consumer loan portfolio remained solid, with PLN1.9 billion of origination, just below record levels, and the back book expanding by 5% y/y.

Liquidity surplus increased further, with deposits up 3% q/q and 13% y/y, driving the loan‑to‑deposit ratio to 58.0%.

The number of active retail clients remained on a steady upward trend, reaching 3.3 million (+5% y/y), the number of active microbusiness clients continued to grow at a robust 14% y/y pace. The number of active digital clients surpassed 3.1 million (with “mobile‑only” clients accounting for 78%), while the volume of investment products increased by 1% q/q to PLN17.5 billion, despite unfavourable market conditions. Within this total, assets managed by Millennium TFI rose by 3% q/q and 39% y/y to PLN11.4 billion.

Capitalisation improved markedly during the period, with the Group’s TCR increasing to 17.6%, Tier 1 to 14.4%, and CET1 to 13.8%, reflecting the inclusion of the recently issued PLN 1.5 billion AT1 bonds and/or 2H25 net profit.

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The 1Q 2026 represents the next quarter in the implementation of “Strategy 2028: Value and Growth”. Bank focused on sustained growth in the retail segment, significant strengthening the Bank’s position in the companies segment, and improving profitability. The Bank prioritizes digitalization, the expansion of its product offering, including investment and savings product, and the continuous enhancement of customer service quality.

During the reporting period, Bank Millennium introduced solutions designed to address the needs of both retail and business customers. In accordance with its strategy of building a consistent, multichannel service ecosystem that integrates digital solutions with direct advisory support across retail banking, the Bank enabled direct remote contact with advisors and launched a new customer support method allowing screen sharing within the mobile application during calls. Additionally, an online Polish Sign Language (PJM) interpreter service was introduced. As part of the expansion of the investment product offering, work on the launch of four MTFI (Millennium TFI) index funds denominated in Polish zlotys and replicating global indices was completed in the first quarter, with the funds made available to customers at the beginning of April.

In the area of corporate banking, from the first quarter customers have been able to use a new functionality that enables full management of a company payment card on a smartphone in a dedicated “Mam tylko kartę” mode, without the need to use full electronic banking. Users of the Bank Millennium for Companies application gain secure access to key card functions, including balance and transaction history, PIN management, limits, online payments and card blocking. Taking into account the Bank’s strategic assumptions regarding the development of the leasing offering and the strengthening of synergies within the Group, in the reporting quarter Millennium Leasing initiated promotional activities supporting financing, targeted at customers from all business segments – from microenterprises to large corporations. Customers who conclude two leasing agreements within specified timeframes may receive a cash reward paid to a prepaid Mastercard card issued by Bank Millennium.

The results of Bank Millennium Capital Group are also available here: https://www.bankmillennium.pl/en/about-the-bank/investor-relations