Millennium Bank S.A. SME financing

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 45589

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 45589

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

10 Dec 2013

Disclosure date

08 Nov 2013

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The EBRD is considering a medium term multi-currency loan of up to EUR 75 million equivalent to improve Bank Millennium’s funding structure and to support its efforts to increase lending in the SME market in Poland.

Transition Impact

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.

The Client

Bank Millennium S.A. is the 7th 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%.

EBRD Finance

Up to EUR 75 million senior loan.

Project Cost

Up to EUR 75 million senior loan.

Environmental Impact

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.

Technical Cooperation

None.

Company Contact

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

Transition impact

ETI Score:60

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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