Millennium aims to generate profits with more mortgages, cards and loans

Bank Millennium wants to increase profits through revenues during the next few months. "We want to increase revenues from retail banking through mortgages, credit cards and quick cash loans," said bank president Bogusław Kott. Millennium is the only large domestic bank that deals in American Express cards. The cash loans initiative comes despite the end of its relationship with a credit intermediary Polskie Towarzystwo Finansowe earlier this year. Kott claims that the bank is prepared to service a considerably larger number of clients than it does now. He does not predict any more redundancies. The company is also planning to increase its market share. In 2006 it wants to have 4.6% share in credits and 4.7% in deposits. At the end of 2003 these shares were 3.7% and 3.8% respectively. (Parkiet, p. 7) A.F.