Millennium's memorable year

Bank Millennium is opening 160 new branches across the country, developing its business model and launching a long-term advertisement campaign. The bank is going to spend zł.190 million during the next three years on the initiatives.

"The promotion campaign will last until May 2006 and the bank's infrastructure will be rebuilt during the next three years," said Bogusław Kott, Bank Millennium's CEO. "We are also going to put more care into e-banking."

These latest moves follow hot on the heels of the bank's record financial results for 2005. The bank earned zł.567 million in net profit, doubling 2004's figure and hitting a new record in the bank's 16-year history. The value of loan, credit-card and investment-fund commissions increased by 17.9 percent in 2005 and the company's individual share value rose by 65 percent.

Currently, Bank Millennium has 234 branches in Poland but plans to build a further 160 outlets, approximately 100 of which will be placed in big cities, especially in Warsaw. Moreover, the company is going to alter its business model by putting its individual-banking, key-client and small- and medium-enterprise operations under one roof.

The Polish bank is fully supported by the Millennium BCP group. "Bank Millennium has become a pillar of the group and Poland has become one of the three most important markets for us," said Paulo Teixeira Pinto, Millennium BCP group's CEO. "As our group changes from Portuguese to European, we fully support Bank Millennium's strategy."