Bank Millennium S A : Information regarding PFSA’s recommendation on withholding dividend payment in 1H 2021.
January 20, 2021 at 12:50 pm EST
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The Management Board of Bank Millennium S.A. ('the Bank') informs that today it has adopted a resolution on taking steps aimed at complying with the individual recommendation of the Polish Financial Supervision Authority ('PFSA') on the dividend policy of the Bank in the first half of 2021. The resolution was adopted in connection with PFSA's letter received by the Bank on January 13, 2021, in which the PFSA recommended that:
the Bank should withhold dividend payout in the first half of 2021 (including undistributed earnings from previous years), and
the Bank should not take any actions beyond the ordinary business and operational activity which could result in lowering of the capital base, including equity buybacks, in the first half of 2021, without consulting them with the PFSA beforehand.
Additionally, the PFSA requested the Bank's Supervisory Board to present its view on the abovementioned recommendation and its supervision over its implementation. The sitting of the Bank's Supervisory Board is scheduled for January 29, 2021.
In the letter, the PFSA also communicated that it would present its position on the dividend policy of commercial banks in the second half of 2021 separately, upon the analysis of situation of the banking sector in the first half of 2021.
Legal basis: art. 17 section 1 MAR - confidential information
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Bank Millennium SA published this content on 20 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2021 17:49:01 UTC
Bank Millennium SA is a Poland-based commercial bank. Its product and service offer includes personal accounts, debit and credit cards, overdraft limits, cash and mortgage loans, saving accounts, term deposits, investment funds, brokerage services, structured products and insurance products. Its business is divided into three segments, including Retail Banking, providing services for individual customers and small enterprises; Corporate Banking, providing services for corporate customers; and Treasury and investment operations, offering financial instruments for both individual and corporate customers. As of December 31, 2012, the Bank rendered its services through a network of 447 outlets located in Polish cities, Internet banking (Millenet), telephone banking and a network of automated teller machines (ATMs). It operated six subsidiaries, including Millennium Leasing Sp. z o.o. and Millennium Dom Maklerski SA, among others. Banco Comercial Portugues SA held a 65.51% stake in the Bank
BANK MILLENNIUM S.A. 
