Significant items impacting financial results in the 3rd quarter 2024

The Management Board of Bank Millennium S.A. (‘the Bank’) informs that the estimated level of 3rd quarter 2024 provisions for legal risk connected with FX mortgage loans originated by the Bank amounts to PLN470 million. Additionally, PLN62 million worth of provisions (without P&L impact) are estimated to be created against legal risk related to the loan book originated by former Euro Bank S.A.

Additionally, with reference to the current report No 17/2024 published on May 7, 2024, the Bank informs that following a verification of the estimated participation of eligible mortgage borrowers in credit holidays it lowered the estimated impact of the Act amending the Act on support for borrowers who have taken out a mortgage loan and are in a difficult financial situation and the Act on crowdfunding for business ventures and assistance to borrowers (“the Act”) on the financial results of the Bank and its Group. As a result, in the 3rd quarter 2024, the estimated cost of credit holidays was lowered by PLN44 million to the level of PLN157 million, positively impacting interest income in the period.

Final value of legal risk provisions in the 3rd quarter 2024 and financial results will be disclosed in the financial statements for the 3rd quarter 2024 due to be announced on October 29, 2024.

Legal basis:
Art. 17 section 1 MAR