Banco Comercial Portugues S.a. · EURONEXT:BCP
Banco Comercial Portugues — Q4 2025 Earnings Presentation
42 slides from Banco Comercial Portugues's earnings presentation, Feb 26, 2026
Slide 1: Bank Millennium Group Preliminary unaudited 4Q25/2025 results
Bank Millennium Group Preliminary unaudited 4Q25/2025 results February 9, 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Bank Millennium for its stakeholders for information purpose only. The information presented in this presentation should be read together with other information published by the Bank (on www.bankmillennium.pl), in particular financial and current rep
Slide 3: Agenda
Agenda Financial performance 4 Business development 17 Appendices 31 3
Slide 4: Financial performance
Financial performance Preliminary unaudited 4Q25/FY2025 results
Slide 5: Main financial achievements in 2025
FINANCIAL PERFORMANCE Main financial achievements in 2025 Reported net profit growth of 67% y/y in 2025. Strong asset quality, liquidity and capital. PROFITABILITY CAPITAL , LIQUIDITY & MREL • Solid capital position. Consolidated TCR at 15.1% • The highest in history reported annual net result: and
Slide 6: Key profit & loss items
FINANCIAL PERFORMANCE Key profit & loss items [PLNmn unless otherwise stated] 2024 2025 Change Y/Y 3Q25 4Q25 Change Q/Q Net interest income 5 530 5 756 4% 1 446 1 438 -1% Net interest income w/o credit holidays 5 643 5 756 2% 2% 1 446 1 438 -1% Net commission income 777 775 0% 204 200 -2% Total oper
Slide 7: Other key indicators
FINANCIAL PERFORMANCE Other key indicators [PLNmn unless otherwise stated] Dec'24 Dec'25 Change Y/Y Sep’25 Change Q/Q Active retail customers (ths) 3 126 3 270 144 144 3 234 36 On-line and mobile (ths) 2 905 3 065 160 160 3 024 41 Customers funds 128 330 146 274 14% 14% 142 420 3% Deposits 117 257 1
Slide 8: Strategy 25-28: positive trajectory of main 'Value & Growth' objectives
S T R AT E G Y E X E C U T I O N Strategy 25-28: After 1st year of the cycle, we are showing positive trajectory of main ‘Value & Growth’ strategic objectives STRATEGY MILLENNIUM 2028 – VALUE & GROWTH We embrace innovation, digitally delivering top-quality services, to be the primary bank for indivi
Slide 9: Reported 2025 net profit of PLN1,202mn (+67% y/y), adjusted at PLN3.2bn
FI NANCI AL HI GHLI GHTS OF 4Q25/ 2025 Reported 2025 net profit of PLN1,202mn (+67% y/y), adjusted at PLN3.2bn (+1% y/y). Reported ROE of 14.3%. Net profit reported and w/o extraordinary* items (PLN million) ROE reported Net profit without extraordinary/one-off items Reported net result +1% 15.2% 15
Slide 10: NII (excluding credit holidays) in 2025 was 2% higher than a year ago
INTEREST AND COMMISSION INCOME NII (excluding credit holidays) in 2025 was 2% higher than a year ago. NIM trending down but much slower than the respective 3M WIBOR decline. Total 2025 fees stable y/y but +7% y/y w/o bancassurance. Net interest income* Interest on loans* and deposits (quarterly aver
Slide 11: Operating costs up 13% y/y (up 10% w/o BFG)
EFFICIENCY Operating costs up 13% y/y (up 10% w/o BFG). Other admin. costs up 6% y/y. C/I adjusted at 35.8% in 2025 with cost dynamics improving towards year-end. Operating cost Employees PLNmn Employees (FTE) Headcount w/o long-term leaves Cost/income adjusted* 30.8% 35.8% +128 +13% 6,786 6,824 6,9
Slide 12: Strong credit quality, with NPL ratio at all-time low of 3.8%
ASSET QUALITY Strong credit quality, with NPL ratio at all-time low of 3.8% CoR at low level of 30bps in 2025. Further increase in the coverage ratio of impaired loans by provisions Coverage ratio 73% 79% Impaired loans (IFRS9 stage 3 & POCI) Total loans Mortgage Consumer l. Companies Cost of risk T
Slide 13: Capital adequacy ratios at comfortable surplus despite higher CCyB
C A P I TA L R AT I O S Capital adequacy ratios at comfortable surplus despite higher CCyB Group capital ratios Consolidated T1 ratio evolution in 2025 18.0% 17.1% 17.9% 17.2% 17.3% 15.9% TCR 15.3% 15.2% 15.6% 15.1% 14.9% 14.8% 14.3% 14.3% 13.8% CET1=T1 13.7% 12.2% 12.2% 12.2% 12.2% 11.8% 11.8% 10.8
Slide 14: Significant surplus of MREL and liquidity ratios
MREL REQUIREMENTS AND LIQUIDITY Significant surplus of MREL and liquidity ratios MREL Liquidity indicators MRELbuffers remain solid 24.5% +5.4 p.p. LCR Loans/ Deposits Debt securities/ Total assets NSFR 418% 414% 402% 365% 371% 374% 19.1% 334% 337% 193% 196% 201% 206% 206% 203% 8.27% +2.4 p.p. 188%
Slide 15: FX-mortgage portfolio: pace of downsizing accelerated further to 40% y/y
FX-MORTGAGE RISK FX-mortgage portfolio: pace of downsizing accelerated further to 40% y/y. Outstanding legal provisions at PLN6.3bn. Legal risk provisions / outstanding active gross FX-mortgages at >160%. FX-mortgages as % of total consolidated gross loans Quarterly cost of provision against legal r
Slide 16: FX-mortgage portfolio: lowest quarterly inflow of new claims in L4Y
FX-MORTGAGE RISK FX-mortgage portfolio: lowest quarterly inflow of new claims in L4Y and below # of settlements Over 30k amicable settlements to date, equivalent to ~50% of active agreements at YE19. New individual indexation lawsuit cases* ~16.7k individual active cases against BM (o/w repaid ~33%)
Slide 17: Business development
Business development Preliminary unaudited 4Q25/FY2025 results
Slide 18: Main business achievements in 2025
BUSINESS DEVELOPMENT Main business achievements in 2025 High growth of customer funds and growing customer acquisition. Strong dynamics in corporate lending, high and stable origination of consumer loans, strongly accelerating origination of mortgages. BUSINESS VOLUMES EVOLUTION MAIN COMMERCIAL HIGH
Slide 19: Loan growth driven by consumer and corporate loans
LOANS AND CUSTOMER FUNDS Loan growth driven by consumer and corporate loans. Corporate portfolio (including leasing and factoring) growth accelerated to 20% y/y, consumer loans +4% y/y. Deposits up 12% y/y. Strong growth momentum in investment products (+40% y/y). Millennium TFI’s AuM >PLN11bn. Loan
Slide 20: Consumer loans sales up 4% y/y, sales of mortgages rebounded
R E TA I L B U S I N E S S – L O A N S A N D C U S T O M E R F U N D S Consumer loans sales up 4% y/y, sales of mortgages rebounded. High growth of customer funds. Retail loans (gross) Retail customer funds PLNmn PLNmn -4% +15% +4% +40% -3% y/y -6% without FX 0% loans +19% 58,834 58,138 57,131 56,46
Slide 21: Steady growth of new customers and accounts
R E TA I L B A N K I N G - N U M B E R O F C U S T O M E R S A N D A C C O U N T S Steady growth of new customers and accounts of ~35-40k clients per quarter. Active retail clients* Active micro-business clients* thousand thousand +20 +144 +5 +36 156 3,193 3,234 3,270 151 3,126 3,163 146 142 137 31/
Slide 22: 78% customers log in to the Bank only via mobile app
M O B I L E A P P A N D D I G I TA L U S E R S 78% customers log in to the Bank only via mobile app 3.07mn 2.87mn 2.28mn +6% y/y +8% y/y +16% y/y Active digital users* Active mobile users Mobile only users Digital banking by platform** Ratings in app stores 22% 20% 19% 18% 17% 17% 16% 16% 4,8 11% 10
Slide 23: 84% junior accounts set in digital channels
D I G I TA L S A L E S A N D A Q U S I T I O N 84% junior accounts set in digital channels Digital channels dominate in the sale of banking products, and the acquisition of new accounts through remote processes is also growing significantly. This is most clearly noticeable in case of Konto 360° Juni
Slide 24: Digital services ecosystem in one mobile app
D I G I TA L A D O P T I O N Digital services ecosystem in one mobile app We integrate financial services with our customers' digital lifestyle – we develop online payments and mobile wallets, including BNPL and recurring payments, which we have made available as part of BLIK services. We want to be
Slide 25: New insurance, payments with wearables and digital dispositions
W H AT ’ S N E W I N D I G I TA L New insurance, payments with wearables and digital dispositions Personal details Home insurance New mobile wallets update We have added the option of App users now have the option to The Bank's customers can now property insurance to the app. change their personal d
Slide 26: We focus on digitalisation, but never forget about people
D I G I TA L I S AT I O N A A N D S U P P O R T We focus on digitalisation, but never forget about people We are developing hybrid support models – quick contact with a consultant via chat or phone directly from the app, screen sharing with a consultant. We digitise processes and introduce remote or
Slide 27: Development of the goodie platform
G O O D I E – B A N K ’ S S M A R T S H O P P I N G P L AT F O R M Development of the goodie platform 20% Increase y/y transaction values made through goodie cashback. 21% Increase y/y number of transactions made through the goodie cashback service. 15% Increase y/y for goodie gift card sold Launch
Slide 28: Strong momentum in companies financing
C O M PA N I E S B U S I N E S S – D E P O S I T S A N D L O A N S Strong momentum in companies financing. Loans up 20% y/y, total deposits up 9% y/y, C/As up 15% y/y. Loans to companies (gross) Companies' deposits PLNmn PLNmn +20% +9% +15% -2% +4% +15% +34% +8% -5% 22,231 34,008 32,429 19,438 20,67
Slide 29: Maintained growth in factoring and trade finance
C O M PA N I E S B U S I N E S S – L E A S I N G , FA C T O R I N G A N D T R A N S A C T I O N S Maintained growth in factoring and trade finance. Leasing contracts broadly flat in FY25. Leasing – new sales Factoring – turnover PLNmn -1% PLNmn +11% 28,905 3,897 3,861 26,112 +7% +11% 963 1,035 999 9
Slide 30: News for businesses
C O R P O R AT E B A N K I N G News for businesses Process digitization – convenience and security Currency exchange in a mobile app for Financing inquiry businesses We have expanded the digitization of credit processes. We have made currency exchange a user-friendly Millenet for Businesses now feat
Slide 31: Appendices
Appendices Preliminary unaudited 4Q25/FY2025 results
Slide 32: Macroeconomic environment
Macroeconomic environment Data from the Polish economy % y/y 10 5 3.2 4.6 5 4 GDP growth rate in Poland and Eurozone % y/y ’’4.0 • The Polish economy proved resilient to unfavorable external factors in 2025. GDP growth in whole 2025 accelerated to 3.6% from 3.0% in 2024. It reached ca. 4.0% y/y in 4
Slide 33: Macroeconomic environment
Macroeconomic environment Unemployment rate and wage dynamics % 7 6 15 10 Inflation in Poland 8 6 % y/y ’’ • In 2025, labor demand remained subdued relative to 2021-2023 levels, unemployment increased. The registered and unemployment rate stood at 5.7% at the end of 2025 compared to 5.1% at the end
Slide 34: Macroeconomic environment
Macroeconomic environment FX evolution 5.2 5.0 4.8 Yields of Polish bonds % 9 8 7 ’’ • In 4Q25, the zloty exchange rate vs. the euro remained stable with low volatility staying in range 4.20-4.28 with gradual appreciation toward 4.20. The EURUSD rate changed little in q/q terms ending quarter near 1
Slide 35: Macroeconomic environment
Macroeconomic environment Growth rate of deposits and loans % y/y 12 9 9.6 Growth rate of deposits % y/y 15 12 ’’ 11.4 • Positive real interest rates supported continued strong growth in bank sector deposits in 2025. As of Dec’25, the value of deposits was PLN198bn higher than year earlier, represen
Slide 36: Bank Millennium's shares gained 87% y/y
R AT I N G S A N D M A R K E T R AT I O S Bank Millennium’s shares gained 87% y/y Ratings of Bank Millennium Bank Millennium’s share performance vs. WIG Banks index (2025) 100% 90% +87% 80% 70% 60% +55% 50% 40% 30% 20% 10% 0% 30-Dec 30-Jan 28-Feb 31-Mar 30-Apr 31-May 30-Jun 31-Jul 31-Aug 30-Sep 31-O
Slide 37: Activities in the ESG area
Activities in the ESG area Carbon footprint calculator for companies The Millennium Eco-Index – Regional Eco-Innovation Potential Bank Millennium has launched a free carbon footprint calculator for companies. The tool enables companies to calculate their greenhouse gas emissions, organise Bank Mille
Slide 38: The most important awards and achievements in 4Q25
The most important awards and achievements in 4Q25 Best bank in Poland according by Newsweek Bank Millennium again wins “Newsweek’s Friendly Bank” ranking. For the third year in a row, it won the double crown, winning in both ranking categories – "Traditional Banking" and "Remote Banking". . 1st pla
Slide 39: Awards for digital channels in 2025
R A N K I N G S A N D AWA R D S Awards for digital channels in 2025 Customer- 2025 Institution Global Finance’s Award for Innovation Banking Tech friendly Bank by of the Year Awards Excellence Diamonds Awards Newsweek We won the Newsweek’s Awards in categories: Once again, we have been In the Euromo
Slide 40: P&L in brief
FINANCIAL PERFORMANCE P&L in brief [PLNmn] 2024 2025 Change Y/YY 3Q25 4Q25 Change Q/Q Net interest income 5 530 5 756 4% 1 446 1 438 -1% Net commission income 777 775 0% 204 200 -2% Other non-interest income 214 406 90% 99 133 34% Operating income 6 521 6 936 6% 1 749 1 771 1% General and administra
Slide 41: Balance sheet in brief
FINANCIAL PERFORMANCE Balance sheet in brief [PLNmn] 31.12.2024 30.09.2025 31.12.2025 Change Y/Y Cash and balances with the Central Bank 5 179 4 941 4 360 -16% ASSETS Loans and advances to banks 435 499 351 -19% Loans and advances to customers 74 865 74 619 76 416 2% Amounts due from reverse repo tr
Slide 42: Investor relations contact
Investor relations contact Dariusz Górski Katarzyna Stawinoga tel. +48 22 598 1110 Head of Investor Relations Investor Relations e-mail katarzyna.stawinoga@bankmillennium.pl mob. +48 514 509 925 tel. +48 22 598 1115 Marek Miśków tel. +48 22 598 1116 e-mail dariusz.gorski@bankmillennium.pl Investor R
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