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.
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.
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%.
€100 million senior loan.
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.
Mr. Pawel Rawa, Financial Institutions Dept.,
Tel: +48 22 - 598 15 60 or 64, Fax: +48 22 - 598 15 63
For business opportunities or procurement, contact the client company.
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