BIG Bank Gdanski to become Bank Millenium

Next month during the shareholders meeting of BIG Bank Gdanski (BIG BG), a decision will be made to change the current brand name to Bank Millenium. According to plans, the new name will be introduced at the beginning of next year, when the company headquarters will be moved to Warsaw's Millenium Plaza, currently known as Reform Plaza. "The name change will cost us up to zl. 25 million. These are estimated costs of promotion, administration and the introduction of the new trademark on the market, as well as the costs of adapting the remaining branches to the Millenium network," said Boguslaw Kott, president of BIG BG. The name of DM BIG BG brokerage house will also be changed to DM Millenium, while the investment bank owned by the financial institution will now become known as Millenium TFI. "We decided to change the brand name because a large group of our clients treated Millenium and BIG BG as two separate banks. Besides that the bank was seen as an old-fashioned institution not adapted to the new times, offering poor customer service and unattractive products," explained Kott. According to market analysts, however, just changing the brand name will not be enough to change the minds of the investors. (Puls Biznesu, p. 4) A.K.