Bank Millennium is setting a new course for its future with a strategic shift that prioritizes customer engagement over asset size. In its 2025-2028 strategy unveiled in October, the bank will emphasize metrics such as the number of active customers and the Net Promoter Score (NPS)—a gauge of customer satisfaction and likelihood to recommend the bank—rather than focusing primarily on asset size and market position.
Joao Bras Jorge, CEO of Bank Millennium, highlighted this shift in an interview with Business Insider Polska. “We are working on defining our targets and will present the detailed strategy later in October. However, it’s clear that our focus will shift towards enhancing customer engagement and satisfaction metrics rather than just asset size and market ranking,” Bras Jorge explained.
The CEO noted that the completion of a two-year recovery plan represents a pivotal moment for the bank, marking the beginning of a new phase of accelerated development. “While maintaining rigorous risk and capital management remains crucial for us, the successful conclusion of our recovery process enables us to focus more on growth,” he added.
Bank Millennium plans to significantly increase its support for small and medium-sized enterprises (SMEs). “In recent years, we have not achieved the growth in SME financing that we aimed for,” Bras Jorge admitted. “We are committed to enhancing our support for Polish businesses, particularly in financing their investments. Poland’s loan-to-GDP ratio is among the lowest in Europe, and it is crucial for banks to support economic development.”
Bras Jorge also emphasized that the bank aims to assist SMEs with more than just financing. “We want to leverage our expertise in digital solutions, EU funds, and green transformation to help businesses adapt to new challenges. Small and medium-sized companies are facing significant shifts, including those related to sustainability and supply chain management. We are committed to supporting them through these transitions.”
In contrast, the retail banking sector, which was not impacted by the recovery plan, will see a more gradual transformation. “Our retail banking efforts will continue along the current trajectory. While there are no major changes planned for our offerings, we will focus on improving advisory services and personalizing customer experiences,” Bras Jorge said.
The CEO also noted that the bank had met its key targets by the end of the current strategy period, including increases in active client numbers, digitalization, return on equity (adjusted for franking issues), and reducing the share of franking mortgages. However, the bank fell short of its asset growth target, a shortfall attributed to capital constraints experienced in recent years.
Source: Bank Millennium and ISBnews
