Bank Millennium S.A. Group generated a net profit of PLN 301 million in the first quarter of 2026, an increase of 68% year on year. This translated into a quarterly annualised ROE ratio of 12.1%. Core operating activity remained solid and was the main source of the strong quarterly result.<\/p>\n
\u201cI am pleased to report that the first quarter marked a strong opening to the year. Bank Millennium achieved a solid financial result, with net profit reaching PLN 301 million. We recorded clear business growth and further strengthened our capital position. We consistently implemented our growth strategy. New customer acquisition remained high, while customer funds continued to grow, both in savings and investments. The bank\u2019s retail customer base reached 3.3 million, while the number of active digital users exceeded 3.1 million.<\/p>\n
At the same time, we remained fully focused on service quality across all channels. This was recognised with Bank Millennium receiving the Z\u0142oty Bankier award. We also continued to develop IT systems and applications, maintaining a strong focus on system security and customer education,\u201d said Joao Bras Jorge, CEO of Bank Millennium.<\/p>\n
The loan portfolio grew by 2% quarter on quarter, which translated into a 5% year-on-year increase. Momentum in the corporate segment continued to accelerate, with growth of 28% year on year, while corporate loans alone rose by 40% year on year. Despite unfavourable seasonality, investment loans accounted for around one quarter of new sales in Q1 2026. Leasing activity recorded a clear rebound after a period of stabilisation, with the portfolio up 2% quarter on quarter and 6% year on year.<\/p>\n
\u201cIn corporate banking, the first quarter was another period of transformation, during which we recorded significant growth in newly granted loans. Bank Millennium further strengthened its position among the fastest-growing banks in the corporate banking segment, with more than 50% of loan portfolio growth generated by new customers. This is particularly important because it confirms both the high quality of our commercial activity and our growing ability to establish new relationships with corporate clients. The response from corporate customers to our lending, leasing, factoring and transaction banking services has been very positive. This clearly confirms that our chosen strategy is effective and that the relationships we are building with customers are becoming stronger, broader and more valuable,\u201d added Joao Bras Jorge.<\/p>\n
The retail portfolio increased slightly quarter on quarter, while the negative year-on-year trend slowed to -2%. The decline was mainly driven by the rapidly shrinking foreign-currency mortgage portfolio and the PLN mortgage portfolio. At the same time, Q1 2026 saw a reversal in the trend for PLN mortgages, which increased by 1% quarter on quarter. This was the first effect of very strong sales in Q1 2026, which reached PLN 2.2 billion, up 79% year on year. Momentum in the consumer loan portfolio remained solid, with sales of PLN 1.9 billion, slightly below record levels, and the portfolio up 5% year on year.<\/p>\n
The liquidity surplus continued to grow. Deposits increased by 3% quarter on quarter and 13% year on year, while the loan-to-deposit ratio declined to 58.0%.<\/p>\n
The number of active retail customers maintained a stable growth trend and reached 3.3 million, up 5% year on year. The number of active microbusiness customers grew by 14% year on year. Active digital customers exceeded 3.1 million, with \u201cmobile-only\u201d clients accounting for 78% of this group. The value of investment products rose by 1% quarter on quarter to PLN 17.5 billion, despite unfavourable market conditions. Within this category, assets managed by Millennium TFI increased by 3% quarter on quarter and 39% year on year, reaching PLN 11.4 billion.<\/p>\n
Capital ratios improved significantly during the period under review. The consolidated TCR ratio rose to 17.6%, while the T1 ratio increased to 16.4%. This reflected the inclusion in own funds of a PLN 1.5 billion AT1 bond issue and net profit for the second half of 2025.<\/p>\n
The first quarter of 2026 marked another stage in the implementation of the \u201cValue and Growth 2028\u201d strategy. The bank is focusing on development in the retail segment, strengthening its position in corporate banking and improving profitability. Its priorities include digitalisation, expansion of its product offering, including investment and savings products, and the consistent improvement of customer service.<\/p>\n
During the reporting period, Bank Millennium implemented solutions designed to support the needs of both retail and business clients. As part of its approach to building a coherent multichannel service ecosystem combining digital solutions with direct advisory support, the bank enabled retail customers to contact an adviser remotely and introduced a new support method allowing screen sharing in the mobile app during a call. Customers also gained access to the history of exchanged files. In addition, the bank launched an online connection service with a Polish Sign Language interpreter.<\/p>\n
As part of the expansion of its investment offering, the bank completed work in the first quarter on launching four Millennium TFI index funds denominated in Polish zloty and tracking global indices. These funds were made available to clients at the beginning of April.<\/p>\n
In corporate banking, since the first quarter of this year clients have been able to use a new function that allows full management of a company payment card on a smartphone in a dedicated \u201cI only have a card\u201d mode, without the need to use full internet banking. Users of the Bank Millennium for Companies app gain secure access to key card functions, including balance, transaction history, PIN management, limits, online payments and card blocking.<\/p>\n
In line with the bank\u2019s strategy to develop its leasing offer and strengthen synergies within the Group, Millennium Leasing launched promotional activities during the quarter to support financing for clients across all business segments, from microbusinesses to large corporations. After signing two leasing agreements within specified periods, clients may receive a cash reward paid onto a Mastercard prepaid card issued by Bank Millennium.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bank Millennium S.A. Group generated a net profit of PLN 301 million in the first quarter of 2026, an increase of 68% year on year. This translated into a quarterly annualised ROE ratio of 12.1%. Core operating activity remained solid and was the main source of the strong quarterly result. \u201cI am pleased to report […]<\/p>\n","protected":false},"author":1,"featured_media":5145,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9],"tags":[3030,4517,2688,3076,2730,4518,2713],"class_list":["post-5144","post","type-post","status-publish","format-standard","has-post-thumbnail","category-companies","tag-bank-millennium","tag-joao-bras-jorge","tag-leasing","tag-mastercard","tag-millennium","tag-millennium-leasing","tag-tfi"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/5144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/comments?post=5144"}],"version-history":[{"count":0,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/5144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media\/5145"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=5144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=5144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=5144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}