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MarketScreener Homepage  >  Equities  >  Warsaw Stock Exchange  >  Bank Millennium S.A.    MIL   PLBIG0000016


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Bank Millennium S A : Decision of Polish Financial Supervision Authority with recommendation on additional own funds requirements (buffer for FX households mortgages)

11/26/2020 | 01:15pm EST

The Management Board of Bank Millennium S.A. ('the Bank'), hereby reports that on 26th of November 2020, it received from the Polish Financial Supervision Authority ('PFSA') the decision with recommendation regarding maintaining additional own funds (on non-consolidated basis) at the level of 3.41 percentage points above the value of total capital ratio defined in the art. 92.1.c of regulation (EU) No 575/2013 of the European parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investments firms and amending Regulation (EU) No 648/2012 ('CRR'), in order to secure the risk resulting from FX mortgage for households loan portfolio, which should consist of at least 75% of Tier I capital (which corresponds to 2.56 percentage points above the value of Tier I capital defined in art.92.1.b of CRR) and at least 56% of core Tier I capital (which corresponds to 1.91 percentage points above the value of core Tier I capital defined in art.92.1.a of CRR). The new level of the required buffer is lower by 1.55 percentage points compared with the level communicated on the 8th of November 2019

The decision was taken based on article 138 sec. 1 point 2a of the Banking Law. As a result of the above decision, based on the currently available information and to our best understanding, the Bank needs to comply with the minimum capital ratios presented in the attachment.

At the date of this current report, the Bank fulfils the PFSA requirements related to the minimum capital ratios on both the individual and consolidated levels.

Legal base: Art. 17.1 of MAR

Attachment to the Current Report No. 31/2020


Bank Millennium SA published this content on 26 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2020 18:14:03 UTC

© Publicnow 2020
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Sales 2020 3 450 M 926 M 926 M
Net income 2020 199 M 53,5 M 53,5 M
Net Debt 2020 - - -
P/E ratio 2020 23,8x
Yield 2020 -
Capitalization 4 804 M 1 289 M 1 289 M
Capi. / Sales 2020 1,39x
Capi. / Sales 2021 1,43x
Nbr of Employees 7 846
Free-Float 49,9%
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Mean consensus HOLD
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Average target price 3,10 PLN
Last Close Price 3,96 PLN
Spread / Highest target 16,2%
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Joao Nuno Lima Bras Jorge Chairman-Management Board
Boguslaw Jerzy Kott Chairman-Supervisory Board
Fernando Maria Cardoso Rodrigues Bicho Chief Financial Officer
Andrzej Kozminski Independent Member-Supervisory Board
Dariusz Rosati Deputy Chairman & Secretary-Supervisory Board
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