20.05.2005
Information on strategic goals of Bank Millennium Group
Bank Millennium informs that today, 20 May 2005, in Lisbon, takes place the Investor Day organized by Millennium bcp – the Portuguese banking group that has a strategic shareholding stake in Bank Millennium S.A.
During this meeting, the Bank will reaffirm commitment to its organic growth strategy anchored in the following main pillars and targets for 2007:
In Retail business:
- Focus in cross-selling, increasing from 2.4 to 3 the average number of products per customer and achieving natural market share in consumer loans
- Very strong market position in mortgage loans, with a targeted market share of 12% in new loans
- Strong market position in credit cards, with a targeted market share of 8%
- Development of the affluent clients business, doubling net revenues in this area and achieving natural market share in mutual funds.
In Corporate business:
- Significant acquisition of new customers (1500)
- Targeted market share of 7% in new leasing contracts
The revised strategic objectives of Bank Millennium Group point to net ROE of 15% (assuming Tier I ratio of 8%) and Cost to Income ratio of 65% in 2007.