Banco Comercial Portugues S.a. · EURONEXT:BCP
Banco Comercial Portugues — Q1 2026 Earnings Presentation
39 slides from Banco Comercial Portugues's earnings presentation, May 7, 2026
Slide 1: Bank Millennium Group 1Q26 results
Bank Millennium Group 1Q26 results April 28, 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 6 Business development 18 Appendices 29 3
Slide 4: Bank Millennium named Golden Bank 2026
Bank Millennium named Golden Bank 2026 1st place for multi-channel service quality – Grand Prize, Golden Bank 2026 1st place for best helpline service quality 1st place – Personal Account category Distinction in the “Bank with a Mission” category
Slide 5: Main business achievements in 1Q26 – strong business momentum
BUSINESS DEVELOPMENT Main business achievements in 1Q26 – strong business momentum Strong dynamics in corporate lending, high and stable origination of consumer loans, strongly accelerating origination of mortgages. High growth of customer funds and growing customer acquisition. BUSINESS VOLUMES EVO
Slide 6: Financial performance
Financial performance 1Q26 results
Slide 7: Main financial achievements in 1Q26
FINANCIAL PERFORMANCE Main financial achievements in 1Q26 Reported net profit grew 68% y/y in1Q26. Strong asset quality, liquidity and capital. PROFITABILITY CAPITAL, MREL & LIQUIDITY • Very solid capital position. Consolidated TCR at • 1Q26 reported net result: PLN301mn (+68% y/y), net 17.6% and Ti
Slide 8: Key profit & loss items
FINANCIAL PERFORMANCE Key profit & loss items [PLNmn unless otherwise stated] 1Q25 1Q26 Change Y/Y 4Q25 Change Q/Q Net interest income 1,423 1,390 -2% 1,438 -3% Net commission income 183 205 12% 12% 200 2% Total operating income 1,667 1,666 0% 1,771 -6% Total costs -668 -746 12% -659 13% Costs witho
Slide 9: Other key indicators
FINANCIAL PERFORMANCE Other key indicators [PLNmn unless otherwise stated] Mar’25 Mar’26 Change Y/Y Dec'25 Change Q/Q Active retail customers (ths) 3,163 3,313 150 150 3,270 42 183 On-line and mobile (ths) 2,949 3,132 183 3,065 67 14% Customers funds 128,330 146,274 14% 142,420 3% Deposits 119,436 1
Slide 10: Strategy 25-28
S T R AT E G Y E X E C U T I O N Strategy 25-28 | The Bank is starting the second year of the Value & Growth Strategy showing clearly execution progress, especially in corporate loan book growth STRATEGY MILLENNIUM 2028 – VALUE & GROWTH We embrace innovation, digitally delivering top-quality service
Slide 11: Reported 1Q26 net profit of PLN301mn (+68% y/y), adjusted at PLN514mn
FI NANCI AL HI GHLI GHTS OF 4Q25/ 2025 Reported 1Q26 net profit of PLN301mn (+68% y/y), adjusted at PLN514mn. Reported ROE of 12.1%, ROE with linear BFG charge at 15.2%. Net profit reported and w/o extraordinary* items (PLN million) ROE reported -28% 904 886 +68% 875 834 796 16.3% 16.2% 718 743 15.5
Slide 12: Resilient NII in a lower interest rate environment: 2% down y/y
INTEREST AND COMMISSION INCOME Resilient NII in a lower interest rate environment: 2% down y/y NIM trending down but much slower than the respective 3M WIBOR decline. Fees rebounding, growing 12% y/y. Net interest income* Interest on loans* and deposits (quarterly average) PLNmn -2% Interest on loan
Slide 13: Operating costs up 12% y/y (up 10% w/o BFG)
EFFICIENCY Operating costs up 12% y/y (up 10% w/o BFG). Other admin. costs up 8% y/y. Cost growth decelerating. C/I adjusted at 39.1%. Operating cost Employees Cost/income Employees (FTE) Headcount w/o long-term leaves PLNmn 34.4% 33.9% 37.2% 38.0% 39.1% adjusted* +159 +12% 6,786 6,824 6,906 6,885 +
Slide 14: Strong credit quality, with NPL ratio at all-time low of 3.7%
ASSET QUALITY Strong credit quality, with NPL ratio at all-time low of 3.7% CoR at 45bps in 1Q26 with no sale of NPL’s. Further increase in the coverage ratio of impaired loans by provisions. Coverage ratio 74% 82% Impaired loans (IFRS9 stage 3 & POCI) Total loans Mortgage Consumer l. Companies Cost
Slide 15: Capital adequacy ratios at very comfortable surplus following AT1 issue
C A P I TA L R AT I O S Capital adequacy ratios at very comfortable surplus following AT1 issue Group capital ratios Consolidated T1 ratio evolution in 1Q26 17.1% 17.9% 17.2% 17.3% 17.6% TCR 15.6% 15.9% 15.1% 16.4% 15.3% 14.8% 15.2% 14.3% 14.3% T1 13.8% 13.8% 13.7% CET1 12.2% 12.2% 12.2% 11.8% 11.8%
Slide 16: Significant surplus of MREL and liquidity ratios
MREL REQUIREMENTS AND LIQUIDITY Significant surplus of MREL and liquidity ratios MREL Liquidity indicators 26.7% LCR Loans/ Deposits Debt securities/ Total assets NSFR +7.5 p.p. 418% 414% 402% 417% 365% 371% 374% 337% 19.1% 193% 196% 201% 206% 206% 203% 208% 188% 9.20% +3.3 p.p. 5.91% 64% 66% 64% 62
Slide 17: FX-mortgage portfolio: legal risk cost dropping >60% y/y
FX-MORTGAGE RISK FX-mortgage portfolio: legal risk cost droping >60% y/y Outstanding legal provisions at PLN5.7bn. Legal risk provisions / outstanding active gross FX-mortgages at 169%. Over 31k settlements to date. Quarterly cost of provision against legal risk* FX-mortgage related costs (pre-tax)
Slide 18: Business development
Business development 1Q26 results
Slide 19: Loan growth driven by corporate and consumer loans
LOANS AND CUSTOMER FUNDS Loan growth driven by corporate and consumer loans. Corporate portfolio’s growth (including leasing and factoring) accelerated to 27% y/y. Consumer loans +5% y/y. Deposits up 13% y/y. Millennium TFI’s AuM >PLN11bn. Loan portfolio of the Group (net) Customer deposits PLNmn PL
Slide 20: Consumer loans sales up 9% y/y, mortgages rebounded strongly
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 9% y/y, sales of mortgages rebounded strongly. Improving deposit mix. Retail loans (gross) Retail customer funds PLNmn PLNmn -2% +15% +4% +31% -1% y/y -4% without FX -2% loans +20% 58,138 57,131 56,467 56,
Slide 21: Steady growth of new customers and accounts of ~40k clients per quarter
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 ~40k clients per quarter Active retail clients* Active micro-business clients* thousand thousand +19 +150 +5 +42 161 3,234 3,270 3,313 156 3,163 3,193 151 146 142 31/03/2
Slide 22: Mobile app is the centre of daily life and main contact channel
M O B I L E A P P & D I G I TA L U S E R S Best Banking Mobile Mobile app is the centre of daily life and the App in Institution of 2026 ranking (mojebankowanie.pl) main contact channel with the Bank for our customers 4.8 4.8 How customers use digital channels** 11% 10% 9% 9% 8% 7% 7% 6% 6% 3.13m 2.
Slide 23: Digital processes boost acquisition
D I G I TA L S A L E S & A C Q U S I T I O N Digital processes boost acquisition 1st place – Best remote account opening process 88% 81% Digital share in Cash Digital share in The bank has been recognised for its mobile app Loan sales in 1Q26 Credit Cards sales process, which allows users to verify
Slide 24: Customer needs at the forefront
D I G I TA L A D O P T I O N & W H AT ’ S N E W Customer needs at the forefront Parents 74% From January, customers can easily send transfers between own account and child’s account via the app. These changes apply to current and savings accounts. We have also Family 800+ applications introduced a n
Slide 25: We implement solutions that promote cross-channel synergy
D I G I TA L I S AT I O N & S U P P O R T We implement solutions that promote cross-channel synergy 62% Online meetings Cobrowsing requests for account balance certificate We have launched a pilot phase in our We have added the option to share screen customers submit mobile app and on Millenet, enab
Slide 26: 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 27: 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 Total portfolio up 27% y/y, loans up 41% y/y, deposits up 13% y/y (term deposits up 19% y/y, C/As up 10% y/y). Loans to companies (gross) Companies' deposits PLNmn PLNmn +27% +13% +30% +19% +6%
Slide 28: Strongly accelerating corporate business
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 Strongly accelerating corporate business Leasing – new sales Factoring – turnover +12% +21% PLNmn PLNmn 1,035 1,047 7,857 7,921 999 945 976 7,110 7,158 7,349 870 6,540 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 4Q24
Slide 29: Appendices
Appendices 1Q26 results
Slide 30: Macroeconomic environment
MACROECONOMIC ENVIRONMENT Macroeconomic environment Tankers crossing Strait of Hormuz number of vessels 90 80 70 Energy commodities prices 140 120 USD/bbl ’’ 350 300 250 • Positive expectations for the economy in 2026 were disrupted by the outbreak of a conflict in the Middle East at the end of Febr
Slide 31: Macroeconomic environment
MACROECONOMIC ENVIRONMENT Macroeconomic environment Unemployment rate and wage dynamics % 7 6 15 10 EU funds inflow to Poland EUR bn 40 35 30 ’’ • The weaker-than-expected economic growth at the beginning of 2026 is unlikely to be fully made up in subsequent quarters. Nevertheless, the overall pictu
Slide 32: Macroeconomic environment
MACROECONOMIC ENVIRONMENT Macroeconomic environment FX evolution 5.2 5.0 4.8 Yields of Polish bonds % 9 8 7 ’’ • After a few months of gradual appreciation and decline in FX rate volatility the zloty weakened vs. the euro in 1Q26. The EURPLN rate remained stable at the start of the year temporarily
Slide 33: Macroeconomic environment
MACROECONOMIC ENVIRONMENT Macroeconomic environment Growth rate of deposits and loans* % y/y 12 9 9.4 Growth rate of deposits* % y/y 18 15 ’’ 14.1 • As of the end of Feb’26, the value of deposits was around PLN 17 billion higher than at the end of 2025. On a year on year basis, this translated into
Slide 34: Bank Millennium's shares decreased 1.7% ytd
R AT I N G S A N D M A R K E T R AT I O S Bank Millennium’s shares decreased 1.7% Ratings of Bank Millennium ytd Bank Millennium’s share performance vs. WIG Banks index (y-t-d) 14% 12% 10% 8% 6% 4% +4.5% 2% 0% 30/Dec/25 30/Jan/26 28/Feb/26 31/Mar/26 -2% -1.7 % -4% -6% No of shares: 1 213 116 777 (li
Slide 35: 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 36: The most important awards and achievements of Bank Millennium in 1Q26
AWA R D S The most important awards and achievements of Bank Millennium in 1Q26 Bank Millennium named Golden Bank 2026 Bank Millennium won the Golden Banker 2026 ranking, winning the Golden Bank 2026 title for the best multi-channel service quality. For the sixth time, the bank took first place for
Slide 37: P&L in brief
FINANCIAL PERFORMANCE P&L in brief [PLNmn] 1Q25 1Q26 Change Y/YY 4Q25 Change Q/Q Net interest income 1,423 1,390 -2% 1,438 -3% Net commission income 183 205 12% 200 2% Other non-interest income 61 71 16% 133 -46% Operating income 1,667 1,666 0% 1,771 -6% General and administrative costs -611 -685 12
Slide 38: Balance sheet in brief
FINANCIAL PERFORMANCE Balance sheet in brief [PLNmn] 31.03.2025 31.12.2025 31.03.2026 Change Y/Y Cash and balances with the Central Bank 4,834 4 360 4,590 -5% ASSETS Loans and advances to banks 628 351 516 -19% Loans and advances to customers 74,428 76 416 78,249 2% Amounts due from reverse repo tra
Slide 39: Investor relations contact
Investor relations contact Dariusz Górski Katarzyna Stawinoga Head of Investor Relations Investor Relations mob. +48 504 779 893 mob. +48 514 509 925 tel. +48 22 598 1110 tel. +48 22 598 1115 e-mail dariusz.gorski@bankmillennium.pl e-mail katarzyna.stawinoga@bankmillennium.pl NEXT EVENTS: 1H26 resul
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