PolSEFF Leasing: Bank Millennium

Location:

Poland

Project number:

47853

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Approval date:

25 Nov 2015

Status:

Repaying

PSD disclosed:

23 Oct 2015

Translated version of this PSD: Polish

Project Description

The EBRD is providing a senior loan of up to €50 million to Bank Millennium S.A. under the PolSEFF Leasing Framework (the Framework). Bank Millennium will on-lend the proceeds of the loan to Millennium Leasing, which will provide leasing finance to small and medium-sized enterprises (SMEs) in Poland (the Project).

Project Objectives

At least 70% of the proceeds will be used for financing sustainable energy projects based on the preapproved list of eligible materials and equipment, while up to 30% will be used for the acquisition of equipment, light commercial vehicles and trucks and trailers by SMEs.

Transition Impact

Demonstration of new products: the Project will help demonstrate the financial viability and attractiveness of sustainable energy financing through leasing companies. This will be the fourth project under the Framework.

Market expansion: By providing access to finance to SMEs for modern energy efficiency equipment, the Project will expand the market for the best available technologies, increasing penetration rates.

Skills transfer: The Project will further increase the awareness of Bank Millennium and its clients of the benefits of energy efficiency.

Client Information

BANK MILLENNIUM SA Bank Millennium is the 7th largest commercial bank in Poland with a ca. 5% market share by loans
and deposits and is majority-owned by Banco Comercial Português S.A (50.1%). The bank is listed on the Warsaw Stock Exchange since 1992 and focuses on both, the mass and affluent retail market, as well as small and medium-sized corporate clients where it has a strong position in specialised finance, especially leasing and factoring.

Millennium Leasing is the wholly-owned subsidiary of Bank Millennium and is operational since 1991. It is the 7th largest leasing company in Poland with a market share of 6.4% in terms of new business. Financed assets include means of transportation, industrial machinery and equipment, computers as well as industrial and commercial real estate.

EBRD Finance Summary

EUR 50,000,000.00

Senior loan of up to €50 million with a maturity of 5 years and 2 year grace period.

Total Project Cost

EUR 50,000,000.00

Environmental and Social Summary

Categorised FI. Bank Millennium will be required to ensure Millennium Leasing complies with EBRD
Performance Requirements 2, 4 and 9, adopts and implements the EBRD's E&S Procedure for
Leasing. Bank Millennium will continue to submit Annual Environmental and Social Reports to the
EBRD on E&S matters and the implementation of the Performance Requirements.

Technical Cooperation

None.

Company Contact Information

Pawel Rawa, Director Financial Institutions Department
Pawel.rawa@bankmillennium.pl
+48 22 598 15 64
https://www.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

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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.

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