Bank Millennium’s profit, 50.1% owned by BCP, increased 67% to 1,202 million zlotys (283.7 million euros) in 2025 compared to 2024, the Portuguese bank announced this Monday, 9th.
In a statement sent to the Securities Market Commission (CMVM), Millennium BCP states that Bank Millennium’s results – still preliminary and unaudited – remained “conditioned by the charges related to the portfolio of mortgage loans denominated in Swiss francs, in particular with the provisions for the legal risk of credits denominated in Swiss francs”.
According to details, in 2025 these totaled 1,801 million zlotys (425.2 million euros, excluding costs related to Euro Bank’s portfolio of mortgage loans denominated in Swiss francs).
Conditioning the Polish bank’s results last year were also the costs of contributions to the banking sector (‘banking tax’), which amounted to 406 million zlotys (95.8 million euros).
In the year under review, Bank Millennium’s charges related to the portfolio of mortgage loans denominated in Swiss francs totaled 2,128 million zlotys before tax (502.4 million euros), 34% less than the previous year.
Adjusted for specific items (mostly related to charges related to the portfolio of mortgage loans denominated in Swiss francs), the Polish bank’s net profit increased from 3,202 million zlotys (743.8 million euros) to 3,222 million zlotys (760.7 million euros), corresponding to a 1% variation in local currency.
In 2025, Bank Millennium’s financial margin increased by 4% year-on-year, standing at 3.98%, while net commissions remained unchanged.
Operating costs increased by 13% year-on-year (or 10%, excluding regulatory contributions related to the Banking Guarantee Fund (BFG)), core income (related to the bank’s main activity) rose by 4% and operating income grew by 10%.
With regard to the quality of assets and liquidity, BCP indicates that the Polish bank’s impaired credit ratio (Stage 3) stood at 3.8% (4.5% in 2024), while the cost of risk stood at 30 basis points (40 basis points in 2024) and the ‘loans-to-deposits’ ratio (loans on deposits, an indicator that assesses liquidity and financial health of the bank) was 58.4%.
In December 2025, Bank Millennium’s CET1 (=T1) capital ratio was 13.7% and the total capital ratio was 15.1%.
These ratios do not incorporate the results of the second half of 2025, which still require approval from the regulator, and the inclusion of the net result of the second half of last year will have a positive impact of 1.3 percentage points on the capital ratios, which are “above regulatory requirements by 3.4 percentage points in the case of the total capital ratio and by 3.9 percentage points in relation to the T1 capital ratio)”, indicates BCP.
The data released today also shows that, in 2025, Bank Millennium had more than 3.2 million active private customers (+144,000 year-on-year), whose resources increased by 15% and loans decreased by 4% (-3%, excluding credits denominated in foreign currency).
Regarding corporate customers, Millennium BCP reports a 20% year-on-year growth in credit to companies from its bank in Poland, a 15% increase in the volume of factoring business and an increase in leasing business by 4%.
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