12.05.2005
Bank Millennium - transborder operations
Bank Millennium notified the Banking Supervision Commission of its intention to launch transborder operations in France. The Bank is going to run a pilot program of cooperation between Bank Millennium and Banque BCP in France. The purpose of the cooperation is to acquire new Customers for both banks, and - in particular - to estimate the potential of Polish community in France related to their interest in services of Bank Millennium.
The Banque BCP is a French subsidiary of Banco Comercial Portugues (BCP) that is the strategic investor of Bank Millennium. Banque BCP has a well-developed branch network and a platform for servicing of individual customers and for years now, its core field of expertise has been providing banking services to Portuguese community in France.
Leveraging on the BCP's experience on the French market, Bank Millennium shall launch a program aimed at testing to which extend the Polish community living in France would be interested in services and products of Bank Millennium.
At this stage the Bank does not intend to make any additional investments in the development of its transborder operations in France.
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Transborder operations are those where banking services are provided in a given country, without branches opened in that country.