Bank Millennium Group generated a net profit of PLN 408 million in the second quarter of 2026, representing an increase of 23% year on year and 36% quarter on quarter. This brought its net profit for the first half of 2026 to PLN 708 million, up 39% compared with the same period a year earlier.
The reported return on equity increased to 14.8% in the second quarter and reached 13.6% for the first half of the year.
The strong performance was achieved despite lower market interest rates and a higher effective tax rate. Results were supported by solid net fee and commission income, disciplined cost growth and a significant reduction in charges related to the foreign-currency mortgage portfolio.
The first half of 2026 was a strong period that made a significant contribution to the implementation of Bank Millennium’s Value and Growth 2028 Strategy.
The bank delivered solid results across all key areas, including a net profit of PLN 708 million, continued strong growth in customer deposits, faster lending growth in both retail and corporate banking, a further improvement in credit quality to a new record level, and a strong capital and funding position.
Corporate lending increases by 32%
In corporate banking, the first half of the year marked another period of transformation. New loan origination increased by 70% year on year, driven primarily by strong growth in new investment loans and factoring.
As a result, loans to businesses reached PLN 25 billion, increasing by PLN 6.1 billion, or 32%, compared with the previous year.
“This is particularly important because it confirms the quality of our commercial activities, the expertise of our employees and our growing ability to establish new corporate relationships,” said João Bras Jorge, CEO of Bank Millennium.
The bank also recorded significant growth in mortgage loan disbursements and consumer loan origination. The quarter delivered strong credit growth, catching up with the impressive increase in customer deposits observed in recent quarters.
“The number of active retail customers increased to 3.35 million, demonstrating the attractiveness of the bank’s services, which are recognised for their high quality and innovative solutions addressing customers’ financial needs,” João Bras Jorge added.
Loan portfolio expands by 10%
Business momentum continued to improve. The loan portfolio increased by 10% year on year and by 6% since the beginning of the year, driven by rapid growth in corporate lending and a clear recovery in the retail segment.
Net corporate exposures exceeded PLN 25 billion, rising by 32% year on year. This was supported by very strong growth in corporate loans and the continued expansion of leasing and factoring activities.
Retail lending also gained momentum. Sales of Polish-zloty mortgage loans reached PLN 3 billion in the second quarter of 2026, while consumer loan sales amounted to PLN 2.2 billion.
The Polish-zloty mortgage portfolio returned to growth, while the consumer loan portfolio continued to expand. The results confirmed strong demand and the effective execution of the bank’s commercial strategy.
The number of active retail customers maintained a stable upward trend and exceeded 3.35 million, representing an increase of 5% year on year. The number of active microbusiness customers rose by 12%.
The number of active digital customers exceeded 3.15 million, with mobile-only users accounting for almost 80% of this group.
Customer deposits reach PLN 141 billion
The Group maintained a very strong liquidity position. Customer deposits increased by 16% year on year and 4% quarter on quarter, reaching PLN 141 billion.
Their structure also improved, as funds held in current and savings accounts grew faster than term deposits.
The loan-to-deposit ratio remained below 58%.
The value of investment products increased by 6% quarter on quarter to more than PLN 16.6 billion. Within this category, assets managed by Millennium TFI rose by 6% quarter on quarter and 30% year on year, reaching PLN 12.2 billion.
Capital position strengthened further
The Group’s capital and funding position improved further, supported by the profit generated in the first half of 2026 and the issuance of PLN 1.5 billion in Additional Tier 1 instruments in January.
The Group’s equity increased by 36% year on year to PLN 11.3 billion, providing a solid capital base for further growth.
Capital ratios remained at strong levels at the end of June 2026. The total capital ratio stood at 17.1%, the Tier 1 ratio at 16.1% and the Common Equity Tier 1 ratio at 13.6%.
The Group also continued to maintain substantial buffers above its minimum requirement for own funds and eligible liabilities.
Bank Millennium continues implementation of its 2028 strategy
The first half of 2026 marked another stage in the implementation of the Value and Growth 2028 Strategy. Bank Millennium continued activities aimed at achieving its strategic objectives while closely monitoring key performance indicators.
The strategic development plan for 2025–2028 assumes continued growth in retail banking, a significant strengthening of the bank’s position among small, medium-sized and large companies, and improved profitability.
The bank is focusing on digitalisation, the development of its product offering, including investment and savings products, and the continued improvement of customer service.
During the first half of 2026, Bank Millennium continued to develop its multichannel customer service model, combining digital solutions with direct support from advisers.
New features were introduced in the mobile application to improve customer contact, including screen-sharing during conversations with advisers and access to an online Polish Sign Language interpreter.
The bank also developed new digital security and payment solutions for customers. These included a dedicated Panic Button enabling users to immediately block access to banking services if fraud is suspected.
Other new services included QR-code identity verification through Millennium ID, the first virtual debit card for one-time online payments offered by a universal bank in Poland, and a new travel insurance product.
New digital and sustainable financing solutions for companies
In corporate banking, Bank Millennium continued its intensified commercial activities, resulting in record growth in the segment’s loan portfolio.
The bank also introduced solutions supporting the digitalisation of processes and improving access to services for business customers.
Corporate clients gained the ability to manage their business payment cards comprehensively through the mobile application under the “I Only Have a Card” service.
The bank also expanded its offering for entrepreneurs by allowing them to obtain a qualified electronic signature through the Millenet for Business platform.
As part of the development of its corporate financing offer, Bank Millennium introduced Sustainability-Linked Loans, which support companies in achieving their sustainability targets.
It also launched preferential de minimis guarantees for companies operating in the defence sector and producing dual-use goods.
At the same time, the Group continued to develop business synergies through promotional activities by Millennium Leasing aimed at customers across all market segments, from microbusinesses to large corporations.
