Main highlights

In a challenging context, Millennium bcp stood out for its agility and adaptability, defending the quality of the balance sheet, protecting Customers and Employees, supporting the economy, preserving business continuity, and reinforcing the social support component.

Net income

Results before impairment and provisions

Evolution of the cost of risk

Improved asset quality (Portugal)

Strong capital

Increasing business volume

Shareholder Structure

Geographical distribution

Strategic plan 2018-2021

Millennium BCP defined five overarching priorities for the future:

Talent mobilization

Energizing Employees to drive the Bank’s agenda as a team, promoting greater engagement and proactivity;
Reinvigorating talent by developing a merit-based growth model;
Reviewing the compensation processes across teams to ensure alignment with the new agenda and performance.

Mobile-centric digitization

Redesigning the digital experience from a mobile-centric approach, transforming top Customer journeys;
Setting up a convenient and productive omnichannel model, and transforming operations through the deployment of NextGen technologies;
Pursuing a strategy focused on upgrading technology, data, security, and ways of working.

Growth and leading position in Portugal

Maximize the position of largest private Portuguese bank implying a renewed commitment to grow the Customer base and expand relationships;
Helping Portuguese businesses thrive, while serving its individual Customers across their full range of needs;
Capture the full potential of ActivoBank’s simple and value-based offer and to assess potential internationalization options.

Growth in international footprint

Capitalizing on the opportunities offered by the intrinsic high-growth of markets where the Bank has a presence and competitive advantage;
In Poland, growing and deepening retail relationships and enlarging the Customer business base;
In Switzerland, a step change by growing existing business and exploring new markets and digital advice;
In Mozambique, leveraging market leading position to focus on profitability and capturing the tailwinds of large commodity investments planned;
In Angola, building on its position as a trusted and sound business partner with unique local relationships;
Exploring emerging China related opportunities (trade and investment flows, payments, private banking).

Business model sustainability

Maintaining the improvement of its credit portfolio quality as a clear priority, by reducing the NPE stock (reduction to Euros 3 billion by 2021) and simultaneously lowering the cost of risk;
Risk and compliance governance will also be strengthened to ensure a sustainable growth of credit volumes with a sound risk profile.

Active

Customers

5.7

million

(+43 thousand vs. 2019)

Millennium

Global

Digital

Customers

3.7

million

(+401 thousand vs. 2019)

Mobile

Customers

2.7

million

(+489 thousand vs. 2019)

Branches

1,380

Employees

17,331

Millennium

Portugal

Active

Customers

2.4

million

(+49 thousand vs. 2019)

Digital

Customers

1.3

million

(+197 thousand vs. 2019)

54%

of active customers are digital customers

Mobile

Customers

967

thousand

(+216 thousand vs. 2019)

40%

of active customers are mobile customers

Branches

478

Employees

7,013

Millennium bcp maintained its growth trend in the Customer base, with emphasis on mobile Customers (+ 489 thousand, of which + 216 thousand in Portugal).

See map

Millennium Network

USA

Commercial protocols

Luxembourg

Commercial protocols

France

Commercial protocols

South Africa

1 Representative office

Venezuela

1 Representative office

Brazil

2 Representative offices

China

1 Representative office

Portugal

477 Branches

200 Branches with differentiated schedulesⓘ

420Branches with access conditions to people with reduced mobility

Switzerland

1 Branch

1 Branches with access conditions to people with reduced mobility

3Representative offices

Macao (China)

1 Branch

Poland

702 Branches

85 Branches with differentiated schedules

104Branches open on Saturday

327 Branches with access conditions to people with reduced mobility

Angola

Partnership

Mozambique

199Branches

30Branches with differentiated schedules

63Branches open on Saturday

189Branches with access conditions to people with reduced mobility

United Kingdom

1 Representative office

Category

	Customersⓘ	Internet	Call Centre	Mobile Banking	ATMⓘ	POSⓘ
Portugal	2,443	650,448	219,096	867,654	2,036	75,682
Poland	2,402	1,786,578	218,832	1,771,010	479	660
Switzerland	2	656	-	-	-	-
Mozambique	856	15,833	54,041	576,000	507	7,945
Macao (China)	3	-	-	-	-	-

Considered Customers/active users those who used Internet, Call Centre or Mobile Banking at least once in the last 90 days. Do not include AtivoBank Customers.

See Report