Project description
and objectives:
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The EBRD is providing a €100 million medium term loan to improve Bank Millennium’s funding structure and to support its efforts to increase lending in the SME market in Poland, which is central to its new strategy.
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Transition impact:
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The EBRD facility provides medium term funding at a time when the availability of this from the market is limited. In particular, the facility will enable Millennium to direct additional resources to increase lending to the SME market.
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The client:
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Bank Millennium S.A. is the 6th largest bank in Poland by assets. It was founded in 1989 (under the name of Bank Inicjatyw Gospodarczych - BIG) and floated on the Warsaw Stock Exchange in 1992. In 1997 the bank merged with Bank Gdanski, and adopted the name BIG Bank Gdanski. In 1998, jointly with Banco Comercial Portugues (BCP), retail operations were launched.
In 2000 BCP acquired 20% of the shares and increased this stake to 50% in 2002. In 2003 the name of the bank was changed to Bank Millennium S.A. BCP’s stake was increased in 2006 to the current level of 65.5%.
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EBRD finance:
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€100 million senior loan.
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Total project cost:
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€100 million.
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Environmental impact:
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Bank Millennium S.A. will be required to comply with PRs 2 and 9, to adhere to the requirements of the Bank's Environmental and Social Exclusion and Referral Lists and provide the Bank with an annual report on environmental and social matters.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr. Pawel Rawa, Financial Institutions Dept.,
Tel: +48 22 - 598 15 60 or 64, Fax: +48 22 - 598 15 63
Email: pawel.rawa@bankmillennium.pl
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EBRD contact:
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Paul Nabavi, Operation Leader: nabavip@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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Public Information
Policy (PIP):
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The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
Text of the PIP
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Independent Recourse
Mechanism (IRM):
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The EBRD has established the IRM to give local groups that may be directly and adversely affected by a Bank project a means of raising complaints or grievances with the Bank, independently from banking operations.
Guidelines for Making a complaint and the Rules of procedures
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