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Bank Millennium

Millennium's net profit rose 9.28% yoy to PLN 287 mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium made a net profit of PLN 287 mil in the fourth quarter of 2020, up 9.28% when compared to the same period of last...

Millennium's net profit rose 9.28% yoy to PLN 287 mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium made a net profit of PLN 287 mil under revenues of PLN 1,040 mil in the fourth quarter of 2020, up 9.28% and ...

Millennium's total revenues remain unchanged yoy at PLN mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium generated total banking revenues of PLN 790 mil in 2019-03-31, up 6.27% compared to the previous year. Pol...

Profit Statement 2018 2019 2020
Net Interest Income PLN mil 1,839 2,478 2,680
Net Fee Income PLN mil 661 699 746
Other Income PLN mil 400 562 540
Total Revenues PLN mil 2,900 3,740 3,966
Staff Cost PLN mil 638 799 856
Operating Profit PLN mil 1,572 2,053 2,099
Provisions PLN mil 197 402 559
Net Profit PLN mil 752 857 710
Balance Sheet 2018 2019 2020
Interbank Loans PLN mil 982 990 692
Customer Loans PLN mil 52,712 69,615 74,088
Investments PLN mil 22,937 22,962 19,202
Total Assets PLN mil 80,459 97,916 97,772
Shareholders' Equity PLN mil 8,384 8,942 9,091
Interbank Borrowing PLN mil 1,963 1,872 1,371
Customer Deposits PLN mil 66,244 81,455 81,511
Issued Debt Securities PLN mil 1,512 2,729 2,099
Ratios 2018 2019 2020
ROE % 9.31 9.89 7.88
ROA % 0.992 0.961 0.726
Costs (As % Of Assets) % 1.75 1.89 1.91
Costs (As % Of Income) % 45.8 45.1 47.1
Capital Adequacy Ratio % 21.7 20.1 19.5
Net Interest Margin % 2.43 2.78 2.74
Loans (As % Of Deposits) % 79.6 85.5 90.9
NPLs (As % Of Loans) % 4.52 4.58 4.96
Provisions (As % Of NPLs) % 71.4 59.9 62.6
Valuation 2018 2019 2020
Market Capitalisation USD mil 2,873 1,872 1,062
Number Of Shares mil 1,213 1,213 1,213
Share Price PLN 8.87 5.85 3.27
Price/Earnings (P/E) 14.3 8.31 5.57
Price/Book Value (P/BV) 1.28 0.794 0.436
Dividend Yield % 0 0 0
Earnings Per Share (EPS) PLN 0.620 0.704 0.587
Book Value Per Share PLN 6.91 7.37 7.49
Dividend Per Share PLN 0 0 0

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summary Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                                        
Net Interest Income PLN mil                                           1,474 1,409 1,517 1,724 1,839    
Total Revenues PLN mil                                           2,373 2,329 2,415 2,757 2,900    
Operating Profit PLN mil                                           1,184 1,171 1,129 1,491 1,572    
Net Profit PLN mil                                           644 651 430 668 752    
balance sheet                                                        
Interbank Loans PLN mil                                           2,540 2,349 1,358 254 982    
Customer Loans PLN mil                                           44,143 46,369 47,020 47,411 52,712    
Investments PLN mil                                           10,667 14,643 17,700 19,405 22,937    
Total Assets PLN mil                                           60,741 66,235 68,793 71,141 80,459    
                                                           
Shareholders' Equity PLN mil                                           5,765 6,443 6,941 7,773 8,384    
Interbank Borrowing PLN mil                                           2,727 1,789 1,610 2,353 1,963    
Customer Deposits PLN mil                                           47,591 52,810 55,876 57,273 66,244    
Issued Debt Securities PLN mil                                           2,379 1,774 1,978 1,858 1,512    
ratios                                                        
ROE % ...                                         11.6 10.7 6.43 9.08 9.31    
ROA % ...                                         1.09 1.02 0.637 0.955 0.992    
Costs (As % Of Assets) % ...                                         2.02 1.82 1.91 1.81 1.75    
Costs (As % Of Income) %                                           50.1 49.7 53.3 45.9 45.8    
Capital Adequacy Ratio % ...       ... ...           ...                   15.2 16.7 17.4 22.0 21.7    
Net Interest Margin % ...                                         2.50 2.22 2.25 2.46 2.43    
Interest Income (As % Of Revenues) %                                           62.1 60.5 62.8 62.5 63.4    
Fee Income (As % Of Revenues) %                                           25.8 25.6 24.1 24.1 22.8    
Staff Cost (As % Of Total Cost) %       ...                                   46.0 47.2 43.4 47.1 48.1    
Equity (As % Of Assets) %                                           9.49 9.73 10.1 10.9 10.4    
Loans (As % Of Deposits) %                                           92.8 87.8 84.2 82.8 79.6    
Loans (As % Assets) %                                           72.7 70.0 68.4 66.6 65.5    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...           ...                 3.61 4.61 4.50 4.57 4.52    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ...           ...                 82.7 66.3 62.6 67.1 71.4    
valuation                                                        
Market Capitalisation USD mil ...                                         2,845 1,717 1,507 3,123 2,873    
Number Of Shares mil ... ... ... ... ... ...   ... ... ...                       1,213 1,213 1,213 1,213 1,213    
Share Price PLN ...                                         8.30 5.56 5.19 8.94 8.87    
Earnings Per Share (EPS) PLN ... ... ... ... ... ...   ... ... ...                       0.531 0.536 0.355 0.551 0.620    
Book Value Per Share PLN ... ... ... ... ... ...   ... ... ...                       4.75 5.31 5.72 6.41 6.91    
Dividend Per Share PLN ...                                         0 0 0 0 0    
Price/Earnings (P/E) ... ... ... ... ... ...   ... ... ...                       15.6 10.4 14.6 16.2 14.3    
Price/Book Value (P/BV) ... ... ... ... ... ...   ... ... ...                       1.75 1.05 0.907 1.40 1.28    
Dividend Yield % ...                                         0 0 0 0 0    
Earnings Per Share Growth % ... ... ... ... ... ... ... ... ... ... ...                     22.2 1.09 -33.9 55.2 12.5    
Book Value Per Share Growth % ... ... ... ... ... ... ... ... ... ... ...                     7.50 11.8 7.73 12.0 7.87    
income statement Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                                        
Interest Income PLN mil                                           2,604 2,357 2,288 2,427 2,583    
Interest Cost PLN mil                                           1,129 948 772 702 744    
Net Interest Income PLN mil                                           1,474 1,409 1,517 1,724 1,839    
Net Fee Income PLN mil                                           612 596 581 664 661    
Fee Income PLN mil                                           695 696 698 799 824    
Fee Expense PLN mil                                           83.6 100 117 136 163    
Other Income PLN mil                                           287 324 317 369 400    
Total Revenues PLN mil                                           2,373 2,329 2,415 2,757 2,900    
Staff Cost PLN mil       ...                                   547 547 559 597 638    
Depreciation PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             43.2 37.6 40.0 38.1 36.4    
Other Cost PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             598 574 688 631 653    
Operating Cost PLN mil                                           1,189 1,159 1,287 1,266 1,328    
Operating Profit PLN mil                                           1,184 1,171 1,129 1,491 1,572    
Provisions PLN mil                                           271 253 217 258 197    
Extra and Other Cost PLN mil                                           83.9 101 292 324 362    
Pre-Tax Profit PLN mil                                           829 816 619 909 1,014    
Tax PLN mil                                           186 165 188 241 262    
Minorities PLN mil                                           0 0 0 0 0    
Net Profit PLN mil                                           644 651 430 668 752    
Net Profit Avail. to Common PLN mil                                           644 651 430 668 752    
Dividends PLN mil                                           0 0 0 0 0    
growth rates                                                        
Net Interest Income Growth % ...             ...                           18.7 -4.41 7.62 13.7 6.65    
Net Fee Income Growth % ...                                         3.90 -2.53 -2.54 14.2 -0.374    
Total Revenue Growth % ...                                         9.52 -1.85 3.68 14.2 5.19    
Operating Cost Growth % ...                                         2.01 -2.54 11.0 -1.60 4.89    
Operating Profit Growth % ...                                         18.3 -1.15 -3.60 32.1 5.45    
Pre-Tax Profit Growth % ...                                         23.9 -1.61 -24.2 46.9 11.5    
Net Profit Growth % ...                                         22.2 1.09 -33.9 55.2 12.5    
market share                                                        
Market Share in Revenues %                                           4.11 4.16 4.07 4.46 4.50    
Market Share in Net Profit % ...                                         4.05 5.81 3.09 4.91 5.76    
Market Share in Employees % ... ...       ...         ... ... ...   ...             3.54 3.46 3.46 3.62 3.77    
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Market Share in Credit Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.48 3.28 3.41 3.64    
balance sheet Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                                                        
Cash & Cash Equivalents PLN mil                                           2,612 1,946 1,779 2,080 2,450    
Interbank Loans PLN mil                                           2,540 2,349 1,358 254 982    
Customer Loans PLN mil                                           44,143 46,369 47,020 47,411 52,712    
Retail Loans PLN mil     ... ... ... ... ... ... ... ... ... ...                   31,788 33,387 33,849 32,720 36,107    
Mortgage Loans PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Consumer Loans PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Corporate Loans PLN mil     ... ... ... ... ... ... ... ... ... ...                   8,740 8,945 8,659 9,886 11,371    
Investments PLN mil                                           10,667 14,643 17,700 19,405 22,937    
Property and Equipment PLN mil                                           153 156 164 186 211    
Intangible Assets PLN mil ... ... ... ...                                   59.1 61.9 62.3 79.8 96.5    
Goodwill PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0 0 0    
Total Assets PLN mil                                           60,741 66,235 68,793 71,141 80,459    
                                                           
Shareholders' Equity PLN mil                                           5,765 6,443 6,941 7,773 8,384    
Of Which Minority Interest PLN mil                                           0 0 0 0 0    
Liabilities PLN mil                                           54,975 59,792 61,852 63,369 72,075    
Interbank Borrowing PLN mil                                           2,727 1,789 1,610 2,353 1,963    
Customer Deposits PLN mil                                           47,591 52,810 55,876 57,273 66,244    
Sight Deposits PLN mil                                           18,772 22,556 29,770 33,005 42,412    
Term Deposits PLN mil     ...                                     28,330 29,763 25,653 23,696 23,438    
Issued Debt Securities PLN mil                                           2,379 1,774 1,978 1,858 1,512    
Subordinated Debt PLN mil ... ... ... ... ... ... ... ... ... ...                       640 640 664 702 702    
Other Liabilities PLN mil                                           2,278 3,419 2,388 1,884 2,356    
asset quality                                                        
Non-Performing Loans PLN mil ... ... ... ... ... ... ...           ...                 1,642 2,204 2,179 2,233 2,463    
Gross Loans PLN mil                                           45,501 47,830 48,385 48,908 54,471    
Risk-Weighted Assets PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ...                 35,257 37,130 36,732 32,694 36,635    
Total Provisions PLN mil     ... ...                                   1,358 1,461 1,365 1,497 1,759    
growth rates                                                        
Customer Loan Growth % ...                                         5.69 5.04 1.40 0.832 11.2    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ...                 2.97 5.03 1.38 -3.33 10.3    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Corporate Loan Growth % ...   ... ... ... ... ... ... ... ... ... ... ...                 14.2 2.35 -3.20 14.2 15.0    
Total Asset Growth % ...                                         6.53 9.05 3.86 3.41 13.1    
Shareholders' Equity Growth % ...                                         7.50 11.8 7.73 12.0 7.87    
Customer Deposit Growth % ...                                         5.05 11.0 5.80 2.50 15.7    
market share                                                        
Market Share in Customer Loans %                                           4.25 4.20 4.04 3.93 4.28    
Market Share in Corporate Loans % ... ... ... ... ... ... ... ... ... ... ... ...                   2.90 2.73 2.51 2.70 3.05    
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Consumer Loans % ... ... ... ... ... ... ... ... ... ... ... ...                   5.40 5.31 5.12 4.87 5.14    
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Total Assets %                                           3.96 4.14 4.02 3.99 4.05    
Market Share in Customer Deposits %                                           4.55 4.74 4.61 4.51 5.37    
ratios Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                         
ROE % ...                                         11.6 10.7 6.43 9.08 9.31    
ROTE % ... ... ... ... ...                                 11.7 10.8 6.49 9.17 9.41    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...               11.9 12.0 7.77 12.8 14.5    
ROA % ...                                         1.09 1.02 0.637 0.955 0.992    
Return on Loans % ...                                         1.50 1.44 0.921 1.41 1.50    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...               3.29 3.23 3.06 4.29 4.54    
Costs (As % Of Assets) % ...                                         2.02 1.82 1.91 1.81 1.75    
Costs (As % Of Income) %                                           50.1 49.7 53.3 45.9 45.8    
Costs (As % Of Loans) % ...                                         2.77 2.56 2.76 2.68 2.65    
Costs (As % Of Loans & Deposits) % ...                                         1.33 1.21 1.27 1.22 1.19    
Capital Adequacy Ratio % ...       ... ...           ...                   15.2 16.7 17.4 22.0 21.7    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             14.5 16.4 17.3 20.0 19.8    
Net Interest Margin % ...                                         2.50 2.22 2.25 2.46 2.43    
Interest Spread % ...                                         2.30 2.06 2.12 2.35 2.31    
Asset Yield % ...                                         4.42 3.71 3.39 3.47 3.41    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ... ... ... ...               6.60 6.44 6.54 7.94 8.37    
Cost Of Liabilities % ...                                         2.12 1.65 1.27 1.12 1.10    
Payout Ratio %                                           0 0 0 0 0    
Interest Income (As % Of Revenues) %                                           62.1 60.5 62.8 62.5 63.4    
Fee Income (As % Of Revenues) %                                           25.8 25.6 24.1 24.1 22.8    
Other Income (As % Of Revenues) %                                           12.1 13.9 13.1 13.4 13.8    
Staff Cost (As % Of Total Cost) %       ...                                   46.0 47.2 43.4 47.1 48.1    
Equity (As % Of Assets) %                                           9.49 9.73 10.1 10.9 10.4    
Equity (As % Of Loans) %                                           13.1 13.9 14.8 16.4 15.9    
Loans (As % Of Deposits) %                                           92.8 87.8 84.2 82.8 79.6    
Loans (As % Assets) %                                           72.7 70.0 68.4 66.6 65.5    
NPLs (As % Of Loans) % ... ... ... ... ... ... ...           ...                 3.61 4.61 4.50 4.57 4.52    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ...           ...                 82.7 66.3 62.6 67.1 71.4    
Provisions (As % Of Loans) %     ... ...                                   3.08 3.15 2.90 3.16 3.34    
Cost of Provisions (As % Of Loans) % ...                                         0.631 0.560 0.466 0.546 0.393    
other data Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                         
Branches ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 413 369 355 361    
Employees ... ...       ...         ... ... ...   ...             6,108 5,911 5,844 5,945 6,132    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 14.3 15.8 16.7 17.0    
Cost Per Employee USD per month ... ...   ...   ...         ... ... ...   ...             2,277 2,072 1,972 2,183 2,395    
Cost Per Employee (Local Currency) PLN per month ... ...   ...   ...         ... ... ...   ...             7,463 7,710 7,968 8,362 8,672    
customer breakdown Unit 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                         
Customers mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Number of Accounts mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Number of Primary Customers mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Payment Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Debit Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Credit Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Number of Mortgages mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Average Size of Deposit PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Average Size of Mortgage Loan PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Accounts (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Primary (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...  
Payments Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Debit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Credit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
                                                           
Market Value per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Revenue per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Net Profit per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Loan per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Deposit per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Market Value per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Revenue per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Net Profit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Loan per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Deposit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    

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Bank Millennium - Market Share in Bank Deposits

By Helgi Analytics - March 23, 2021

Bank Millennium's customer deposits reached PLN 57,273 mil in 2017-12-31, up 1.05% compared to the previous year. Polish banking sector accepted customer deposits of PLN 1,079 bil in 2017-12-31, up 4.48% when compared to the last year. Bank Millennium acc...

Millennium's customer loans remain unchanged yoy at PLN mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium's customer loans reached PLN 47,411 mil in 2017-12-31, down 0.383% compared to the previous year. Polish banking sector provided customer loans of PLN 1,040 bil in 2017-12-31, down 0.252% when compared to the last year. Bank Millennium acc...

Millennium's net interest income fell 3.61% yoy to PLN 672 mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium generated total banking revenues of PLN 1,040 mil in the fourth quarter of 2020, up 3.42% when compared to the same period of last year and 8.52% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

Millennium's npls (as % of loans) rose 8.36% yoy to 4.96% in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium's non-performing loans reached 4.96% of total loans at the end of 2020-12-31, up from 4.58% compared to the previous year. Historically, the NPL ratio hit an all time high of 123% in 2004-12-31 and an all time low of 3.33% in 2015-09-30. Pro...

Millennium's price/earnings (P/E) remain unchanged yoy at in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium stock traded at per share at the end first quarter of 1970 implying a market capitalization of. Since the end of 1Q1965, the stock has A PHP Error was encountered Severity: Warning Message: A non-numeric value encountered Filename: src/Environment.php(418) : ...

Millennium's net interest margin fell 5.63% yoy to 2.69% in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium's net interest margin amounted to 2.69% in the fourth quarter of 2020, up from 2.55% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 5.41% in 2Q2008 and an all time low of -...

Millennium's employees fell 11.5% yoy to 7,493 in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium employed 7,493 persons in 2020-12-31, down 4.50% when compared to the previous year. Historically, the bank's workforce hit an all time high of 8,564 persons in 2019-09-30 and an all time low of 5,839 in 2016-09-30. Average cost reached USD 9,771 p...

Millennium's capital adequacy ratio fell 2.99% yoy to 19.5% in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium's capital adequacy ratio reached 19.5% at the end of fourth quarter of 2020, down from 20.0% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 25.6% in 1Q2019 and an all time low of 10.2% in 4Q2008...

Millennium's retail deposits remain unchanged yoy at PLN mil in 1Q1970

By Helgi Analytics - March 23, 2021

Bank Millennium's retail deposits reached in, down 0% compared to the previous year. Polish banking sector accepted retail deposits of PLN bil in, down 0% when compared to the last year. Bank Millennium accounted for of all retail deposits taken by ban...

Millennium's retail loans remain unchanged yoy at PLN mil in 4Q2020

By Helgi Analytics - March 23, 2021

Bank Millennium's retail loans reached PLN 32,720 mil in the fourth quarter of 2017, down 1.38% compared to the previous year. Polish banking sector provided retail loans of PLN 668 bil in 4Q2017, down 0.192% when compared to the last year. Bank Millenniu...

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Bank Millennium is Poland's nationwide universal bank, offering its services to all market segments via a network of branches, individual advisors and electronic banking. Its product and service offer includes personal accounts, debit and credit cards, overdraft limits, cash and mortgage loans, saving accounts, term deposits, investment funds, brokerage services, structured products and insurance products. Bank Millennium has made its name through providing of FX-denominated mortgage loans. In 2008, the bank became the second largest mortgage lender in the country with over 11% market share. Banco Comercial Portugues is the strategic shareholder with a 65.5% stake

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Finance

Bank Millennium has been growing its revenues and asset by 8.10% and 7.60% a year on average in the last 10 years. Its loans and deposits have grown by 7.27% and 8.70% a year during that time and loans to deposits ratio reached 90.9% at the end of 2020. The company achieved an average return on equity of 9.57% in the last decade with net profit growing 8.09% a year on average. In terms of operating efficiency, its cost to income ratio reached 47.1% in 2020, compared to 50.5% average in the last decade.

Equity represented 9.30% of total assets or 12.3% of loans at the end of 2020. Bank Millennium's non-performing loans were 4.96% of total loans while provisions covered some 62.6% of NPLs at the end of 2020.

Valuation

Bank Millennium stock traded at per share at the end of 2020 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 9.03% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 5.57x and price to book value (PBV) of 0.436x in 2020.