Bank Millennium is BCP's network of branches in Poland. Bank Millennium was founded as Bank Inicjatyw Gospodarczych S.A. in 1989 when the Polish free market and democratic political transformations started. The bank was the first financial institution quoted on the Warsaw Stock Exchange (1992) and gained its present scale through mergers with other banks (in 1992 - Łódzki Bank Rozwoju S.A. and 1997 - Bank Gdański S.A.), as well as organic growth supported by the new business model, which has been developed in co-operation with its owner - the Portuguese bank Millennium BCP, which holds 65.5% of its shares. Following the 1997 merger the name was changed to BIG Bank Gdański S.A. In 2003 it was re-branded to Bank Millennium - a year before BCP adapted it. Bank Millennium, together with its subsidiaries in Poland, provides specialized financial services such as leasing, brokerage, and mutual funds, which makes it one of the largest banking groups in Poland.