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Poland: Country and Foreign Investment

Banking System

This page was last updated on 8 July 2020.

Narodowy Bank Polski, (National Bank of Poland or NBP) is the central bank; it is regulated under the 1997 constitution and the National Bank of Poland Act 1997. The NBP is responsible for issuing the Polish currency, the zloty (PLN) and for related matters. In recent times, this has included preparing for the adoption of the euro, which has been mooted several times but is still to take place. Indeed, in April 2019 the country’s ruling party, Law and Justice (PIS), stated that Poland will not adopt the euro until its economy reaches that on western European countries.

The zloty is a fully convertible currency, and foreign exchange and domestic currency accounts can be held by Polish residents domestically and abroad (within the EU, EEA and OECD - approval from the NBP is required for such accounts in other countries). However, quarterly balance reports are a requirement for all overseas accounts, and for businesses and individuals undertaking the majority of currency-related transactions.

Other key activities the NBP undertakes include maintaining the stability of the financial system, managing the official reserves and monetary policy matters (under the oversight of the Monetary Policy Council, which is one of the directing bodies of the central bank).

Supervision of the banking sector, meanwhile, is the responsibility of the Commission for Banking Supervision, an autonomous body within the NBP. Commercial banks are estimated to hold in the region of 95% of the country's banking sector assets, with cooperative banks holding the remainder.

In December 2018, there were 32 commercial banks, 543 cooperative banks and 31 credit institution branches in Poland. Also in December 2018, the share of domestic investors in the banking sector’s assets was at 54%.



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