Millennium Bank S.A.

Location:

Poland

Project number:

40819

Business sector:

Notice type:

Private

Environmental category:

FI

Target board date:

25 Nov 2009

Status:

Signed

PSD disclosed:

26 Nov 2009

Project Description

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.

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 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%.

EBRD Finance

€100 million senior loan.

Project Cost

€100 million.

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

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

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.