MIL GPW mWIG40 Periodic report · PAP Biznes
Bank Millennium SA (MIL) · Q3 2026 results
Share price: 23.80 zł · 2026-11-10
Bank Millennium SA is a universal bank providing retail and corporate banking services. It operates in the Polish market, offering financial products and market activities. Sources: Half-year report (2026-07-28) · Wikipedia
Results Q3 2026 vs Q3 2025 · year over year · published 27 Oct 2026 and 24 Oct 2025
Net income up 215.1% year on year. The report's language is unchanged.
1 · Numbers
+215.1%
Net income vs Q3 2025
Net income 400.4M vs 127.1M
Revenue −1.6%
Why Net income rose primarily due to higher credit commissions supported by loan sales and a 21% year-on-year increase in the investment fund portfolio.
2 · How the report reads
Unchanged
Language tone vs last period
Report language: upbeat for a company report — about as upbeat as in Q3 2025.
Weak signal: formal report language, not a call.
3 · What stood out
Bank Millennium's total operating costs were 643 million PLN in Q3 2026, increasing by 1% quarter-over-quarter and 3% year-over-year.
Read between the lines
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Figure
Commission results reached 213 million PLN in Q3 2026, increasing by 3% quarter-over-quarter and 4% year-over-year.
Source quote
“Commission income amounted to PLN 213 million in 3Q26, increasing by 3% qoq and 4% yoy.”
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Figure
Bank Millennium's share price rose 39%, from 16.63 PLN at the end of 2025 to 23.11 PLN on September 30, 2026.
Source quote
“In the same period, the Bank Millennium share price increased by 39%, from PLN 16.63 at the end of 2025 to PLN 23.11 on September 30, 2026.”
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Figure
Total operating costs were 643 million PLN in Q3 2026, rising 1% quarter-over-quarter and 3% year-over-year, confirming a continuing slowdown in the pace of cost growth.
Source quote
“Total operating costs amounted to PLN 643 million in 3Q26, increasing by 1% QoQ and 3% YoY, confirming a further slowdown in the pace of cost growth.”
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Figure
The company held and sold pledged DS0727 treasury bonds related to a securitization transaction totaling 425,000,422,051.
Source quote
“DS0727 treasury bonds maintenance and sale of pledge on the Bank account related to the securitization transaction 425,000,422,051.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q3 2025.
Upbeat for a company report — about as upbeat as in Q3 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.
Sentences that drove the tone
“The Polish economy could also benefit from accelerated absorption of EU funds, increased investment activity of enterprises, improved consumer sentiment, and higher-than-expected economic growth among key trading partners...”
“1,922 million PLN and would be 18% lower y/y, reflecting primarily the impact of a lower interest rate environment.”
“3Q25 growth resulted primarily from higher loan commissions, supported by loan sales, and a 21% y/y increase in the investment fund portfolio.”
Full figures
PLN · PAP Biznes report (2026-10-27)
| Metric | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | 1.48B | 1.51B | −1.6% |
| Operating income | 676.6M | 563.7M | +20.0% |
| Net income | 400.4M | 127.1M | +215.1% |
| P/E today 23.0 | 23.9 | 25.7 | −1.8 |
Topics
Topics are drawn from the full report text, not management commentary.
Most discussed now
- 3Q26 reached a record level of 2.6 billion PLN, increasing by 42% y/y and 19% q/q (9M26: 6.8 billion PLN, an increase of 26% y/y), which…
- Cash flow volatility results from interest rate risk.
- 2% (*) Includes depreciation; (**) Impairment losses
- In Case C-28/22, the Court ruled that the limitation period for a trader's claims resulting from the invalidity of a contract may not begin…
- The loan-to-deposit ratio remains at a safe level of 58%, and the share of liquid securities (mainly bonds issued by governments, the…
Faded since Q3 2025
- Fading Opinion 93/13 does not imply that the finding of the unfair nature of the original contractual term would, as a rule, result in the…
- Fading This resulted, among other things, from the fact that most provisions for legal risk reduce the gross value of loans, in addition to…
- Fading The court decided to waive the evidence from the hearing of the parties and ordered the parties to submit documents - agreements concluded…
- Fading Cash loan sales remained very high – PLN 1.9 billion in 3Q25, with a market share of 10%.
Latest announcements
Official filings, newest first. Summaries are generated from each filing and its attachment; every figure is checked against the source.
- Informacja w sprawie dodatkowego wymogu kapitałowego w ramach filara II (P2G) · ESPI 34/2026
- Powiadomienie o zbyciu akcji Banku Millennium S.A. dokonane przez osobę pełniącą obowiązki zarządcze w Banku. · ESPI 33/2026 · routine
- English version (translation) of Report of the Bank Millennium S.A. Capital Group for 3rd quarter of 2026 · ESPI 5/2026 · routine
- Quarterly report · ESPI periodic · routine
- Szacunkowa wartość rezerw na ryzyko prawne związane z portfelem walutowych kredytów hipotecznych w III kwartale 2026 r. · ESPI 32/2026
- Bank Millennium Spółka Akcyjna - informacja o stanie stosowania Dobrych Praktyk 2021 · EBI 1/2021 · routine
- Stosowanie reguły określonej w Rozdziale IV ust. 10 pkt 2) Dobrych Praktyk Spółek Notowanych na GPW. · EBI 1/2013 · routine