Millennium Bank launches new current account for start up entrepreneurs
BANCA MILLENNIUM S.A. - 30 March 2010
Millennium Bank launched a lower costs current account for start up businesses, to help entrepreneurs develop their operations in the first year after the launch.
For one year, the start up operations with annual turnover of less than EUR 500,000 can benefit from Millennium Bank's Start Account, with zero administration fee, free access to Internet Banking and Call Centre services, zero issuance and first year administration fees for Visa Business Silver debit card and zero fee for the debit card withdrawals at Millennium Bank's ATMs.
The Start Account also offers benefits for several types of transactions, such as zero fees for low value RON payments made through the Internet Banking service and no fee for RON cash deposits made at the teller desks in the branches.
'By Start Account, Millennium Bank aims to support the development of start up businesses, by providing them, for one year, with zero bank account and transaction fees and by applying reduced fees over the following years. This product represents the basis for the future development of the bank's entrepreneurs offer, which will include customized products and services that address the specific needs of this client segment', stated Eliza Erhan, Head of Retail Product Development with Millennium Bank.
The new account is available in RON and the clients can benefit from several other products and services attached to it, such as a current account in foreign currency or direct debit service.
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Millennium Bank, part of the leading financial private group in Portugal, Millennium bcp, started its activity on the Romanian market on October 11, 2007, by simultaneously opening 39 branches in Bucharest and in other eight cities of the country. Now, Millennium bank has 74 units throughout Romania, addressing individuals and companies, with an extensive range of products. On December 31st, 2009, the bank's total assets reached RON 2 billion (EUR 473 million), 62% higher than a year before. The operating income doubled compared to the end of 2008 and reached RON 107.7 million (EUR 25.5 million). The total volume of loans granted by Millennium Bank to customers exceeded RON 1 billion (EUR 243 million). Loans to individuals went up by 50% year-on-year, to RON 651 million (EUR 154 million). Customer funds attracted by the bank registered a growth of 154%, reaching RON 1.1 billion (EUR 255 million).
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