19.05.2014
Bank Millennium has increased financing of companies
In the first quarter of this year Bank Millennium recorded further strong growth in corporate financing.
The bank's credit portfolio has increased in Q1 2014 by PLN 852 million and by PLN 1.7 billion since Q1 2013, which means a strong 16.6% annual growth.
- This is another quarter, which ends with record-high results of Bank Millennium corporate banking. We are growing dynamically in the corporate loans segment; moreover we are consistently consolidating our strong position in leasing and factoring. This growth confirms the strengths of our corporate financing product and service range - Andrzej Gliński, Member of the Management Board of Bank Millennium says.
Record high March result in factoring
Quarterly factoring turnover totalled PLN 2.6 billion, which constitutes 42% growth y/y. Meanwhile in March the value of factoring turnover in Bank Millennium reached the record-high level of PLN 1 billion. The bank's share in this market segment increased from 8.5% in Q4 2013 to 9.3% in Q1 2014*.
Further growth in Millennium Leasing
The value of signed leasing agreements stood at PLN 677.7 million in Q1 2014, higher by 68.3% than in Q1 2013. Market share in movables' leasing in Q1 2014 was 7.7%**.
* Based on data from Polish Factors Association and other banks
** Proprietary estimates based on data from Polish Leasing Association (signed leasing agreements); market share in movables' leasing