|Current Accounts (PLN)||from 96.00 PLN p.a.||Open Account|
Founded in 1989 as Bank Inicjatyw Gospodarczych BIG SA, the bank has been a member of Millennium Group (Portugal) since 2003 and operating as Bank Millenium. Bank Millenium is a nationwide universal bank offering its products and services through indirect (chain of branches) and direct channels (the Internet, phone and mobile) to private customers, to self-employed professionals, small- and medium-sized enterprises and large companies.
time deposit accounts
Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Current accounts are often offered with a payment card (a debit card and/or a credit card) and may also include overdraft possibility. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account.
Current accounts made with Bank Millennium (BC Portugues) are covered by deposit guarantee scheme of Poland up to 100 000 EUR per depositor. The following current accounts are offered by Bank Millennium (BC Portugues):
|Product||Account Currency||Annual Costs (PLN)||Overdraft Rate (p.a.)||Debit Card||Credit Card|
|PLN||96.00||0.00 %||View Details||Open Account|
Current Account Details
|Total Assets (2015)|
|66 235.00 mln PLN (+9.05%)|
|Total Equity (2015)|
|6 443.00 mln PLN (+11.76%)|
In 2015 total assets of Bank Millennium (BC Portugues) were 66 235.00 mln PLN. Growth compared to the previous period (2014) was 9.05%. The evolution of the total assets of Bank Millennium (BC Portugues) is shown at Chart 1 below.
Recent changes in total assets of Bank Millennium (BC Portugues) and its main components are shown in Table 1.
|Loans||45 501.0||47 830.0||+5.12%|
|Total Assets||60 740.0||66 235.0||+9.05%|
|Table 1. Recent changes in total assets of Bank Millennium (BC Portugues) (mln PLN).|
Recent changes in total liabilities of Bank Millennium (BC Portugues) and its main components are shown in Table 2.
|Deposits||47 591.0||52 810.0||+10.97%|
|Total Liabilities||60 740.0||66 235.0||+9.05%|
|Table 2. Recent changes in total liabilities of Bank Millennium (BC Portugues) (mln PLN).|
|Net Income (2015)|
|547.00 mln PLN (-15.98%)|
In 2015 net income of Bank Millennium (BC Portugues) was 547.00 mln PLN. Decline compared to the previous period (2014) was -15.98%. The evolution of the net income of Bank Millennium (BC Portugues) is shown at Chart 2 below.
|BBB- (good credit quality)||Ba1 (non-investment grade speculative)||- (not rated)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.Of the 'Big Three' rating agencies, Bank Millennium (BC Portugues) is rated by Fitch and Moody's.
Credit ratings assigned to Bank Millennium (BC Portugues) as of April 2016 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Bank Millennium (BC Portugues) it is set to BBB- (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Bank Millennium (BC Portugues) is set to F3 (fair short-term credit quality).
|Long-Term Issuer Default Rating||BBB-|
|Short-Term Issuer Default Rating||F3|
|Support Rating Floor||WD|
Viability rating for Bank Millennium (BC Portugues) is set to bbb- (good fundamental credit quality); support rating is 4 (limited probability of support); support rating floor is WD (withdrawn).
Long-term rating for Bank Millennium (BC Portugues) it is set to Ba1 (non-investment grade speculative). Long-term bank deposit rating is Ba1 (non-investment grade speculative). Bank financial strength rating is ba3. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Ba1|
|Bank Financial Strength Rating||ba3|
Outlook for the ratings of Bank Millennium (BC Portugues) is set to stable (not likely to change).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Poland are obliged to participate in Polish deposit guarantee scheme.
In the case of Bank Millennium (BC Portugues) failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||deposits in all the accounts (e.g. term deposits, current accounts, savings accounts)|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||PLN|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Bank Millennium (BC Portugues) and its components are shown in the table below.
|Bank BIC Code||BIGB|
|Country Code||PL (Poland)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Bank Millennium (BC Portugues) is shown in the table below.
Bank Sort Code is a code that uniquely identifies a financial institution within a country. Bank sort codes are usually assigned by National Central Banks and differ from BIC codes.
|Bank Sort Code||11600006|