Millennium Bank Hipoteczny allowed by KNF to commence operational activity

On 20 May 2021 Polish Financial Supervision Authority gave permission to start the mortgage bank operation under the name of “Millennium Bank Hipoteczny Spółka Akcyjna” with its seat in Warsaw.

– I am very pleased that the process of creating the mortgage bank has come to an end. By starting its operation as a Group we will gain access to financing assets with use of covered bonds. This will permit diversification of the structure of financing mortgage loans acquired from Bank Millennium – said Agata Chrzanowska, CEO of Millennium Bank Hipoteczny.

– Planning to maintain a strong position in sales of mortgage loans and a double-digit market share, we have set-up Bank Hipoteczny, which will allow financing lending with favourable terms and conditions. The KNF consent for the start of Millennium Bank Hipoteczny shows that Millennium Group enjoys unwavering trust on part of the market regulator, which confirms stability, good business and financial standing of the Group – Joao Bras Jorge, CEO of Bank Millennium, said.

In accordance with strategy Bank Millennium is consistently strengthening its position in lending. In the first quarter of 2021 a new quarterly record was set in disbursements of mortgage loans amounting to 2,2 bn PLN, which represents 64% growth per annum and translates to 14,6% market share in new contracts. Thanks to change of the structure of financing towards extending terms, further business growth will be possible. Additionally, in this year’s edition of the Golden Banker plebiscite, Bank Millennium’s mortgage loan was hailed the best one on the Polish market. According to organisers it won in most of the examined areas (assessment was made on the basis of several dozen variables, such as cost, flexibility, e-service and availability).

Long-standing employees of the Bank were appointed to the Management Board of Millennium Bank Hipoteczny. It comprises: Agata Chrzanowska – Chairman of the Management Board; Adam Berent – Management Board member for Risk and Artur Kulesza – Management Board member for Finances, Operations and IT.

Shareholders’ equity of Millennium Bank Hipoteczny is 40.000.000 PLN and was fully covered by Bank Millennium.

Author:

Bank Millennium

Last Updated on August 11, 2021 by Karolina Ampulska