For the second consecutive year, Millennium bcp is the #1 Bank for Innovative Companies, supporting 363 companies that achieved the COTEC Innovative Status, which allows them access to financing with better conditions. In 2022, Millennium bcp was the bank that supported the most companies, with 60.9% of the total statutes attributed, consolidating its position at the forefront of business innovation.

“Innovation is essential to providing the best financial solutions to our customers, so investing in innovation is one of the central vectors of Millennium bcp's strategy. Our partnership with COTEC reinforces the Bank's commitment to innovation and innovative companies, encouraging and giving visibility to something that we consider essential for strengthening the competitiveness and productivity of companies and the Portuguese economy,” Miguel Maya, CEO of Millennium bcp, said. “The creation of this statute was announced by COTEC Portugal in January 2021 and Millennium bcp joined from the very beginning. The results achieved in this initiative demonstrate the commitment and leadership of Millennium bcp in promoting innovation as a competitive factor for Portugal’s economy.”

The COTEC Innovative Statute is a seal of reputation and prestige, recognizing and promoting, at a national level, innovative examples of excellence, publicly distinguishing companies that translate their ability to innovate into profitable growth and financial strength.

Most of the companies supported by Millennium bcp that obtained the Innovative Status are between 11 and 20 years old (158 companies) and between 21 and 30 years old (152). Porto is the district with the most innovative companies (145 companies) supported by the bank, ahead of Lisbon (121), Aveiro (102) and Braga (81).

Manufacturing (349 companies) and IT and communication activities (102 companies) continue to be the predominant sectors, with 76% of the statutes awarded. This is followed by scientific and technical consulting and similar activities (56 companies), wholesale and retail trade and vehicle repair (44 companies) and the construction sector (11 companies).

Millennium bcp is the market leader in the business segment and intends to continue to strengthen this position in the coming years. In the challenging period of confinement because of the pandemic, and in the post-confinement period, the bank was and remains very close to businesses and companies, supporting as they overcome these challenging moments. An example of this is that the bank was the catalyst for a significant proportion of Covid-19 financing lines (up to 35%).

ABOUT COTEC AND THE INNOVATIVE COMPANY STATUTE

COTEC Portugal is the main Portuguese business association for the promotion of business technological innovation and cooperation.

Objectives of the COTEC Innovative Statute initiative:

• Guarantee better financing conditions for Innovative Companies.