Bank Millennium likely to close 10-20% of its branches
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Polish Bank Millennium, owned by Portuguese BCP, is going to develop electronic banking channels and limit the bricks-and-mortar branch network by 10-20 percent in the coming five years, CEO Joao Bras Jorge told PAP.
"We have not yet reached the target structure of the network. I think that a reduction in the number of branches by some 10-20 percent may be necessary, but it is a perspective of the coming five years. Especially in large cities, on the streets, we will be less visible. We want, in turn, to open branches in newly built shopping malls, which our clients visit frequently," Bras Jorge argued.
In the first quarter of 2016, five Millennium Bank's branches were closed, so currently it owns 406 branches.
