Authorisation to commence the activity

modification date 18 January 2019

Under Article 36 of the Banking Law, a bank may commence its activity after it obtains authorisation from the Polish Financial Supervision Authority. The request for authorisation to commence the activity must be submitted by the management board of the bank.

The request for authorisation to commence the activity bank should be submitted in writing to the registry office of the Polish Financial Supervision Authority open from 08:15 am to 04:30 pm:
Komisja Nadzoru Finansowego
Plac Powstańców Warszawy 1
00-030 Warszawa

or should be sent at the following address:

Komisja Nadzoru Finansowego
Plac Powstańców Warszawy 1
skr. poczt. 419
00-950 Warszawa 1

The Polish Financial Supervision Authority grants authorisation to commence the activity of a bank after it has established that the bank:

1.    is properly prepared organisationally to start its activity;
2.    collected the full amount of initial capital;
3.    has appropriate facilities for the safekeeping of funds and valuables, considering the scope and type of its banking activities;
4.    complies with other requirements laid down in the decision on granting authorisation to establish a bank.

The examination of the bank’s compliance with the above-mentioned requirements is performed in the form of an on-site inspection (conducted at the bank), during which authorised staff of the Polish Financial Supervision Authority examine, in particular:

1.    the accuracy of information provided in the documents which constitute the basis of the authorisation to establish a bank, in particular in respect of: 

  • whether the initial capital has been paid properly,
  • the sources used to pay the costs of bank organisation,
  • the composition of the bank’s management board,
  • the list of shareholders/founders (share register),
  • the legal status of the building intended to be the bank’s registered office,
  • conformity of the notarial deed and entries in the commercial register with the decision issued by the Authority and with the articles of association,

2.    whether the bank has a set of internal regulations and instructions necessary to conduct its,

3.    intended activity,

4.    whether the bank has a set of stamps and seals,

5.    whether the bank has necessary forms and printed templates (including cheque forms),

6.    the level of staff preparation (completed training),

7.    the bookkeeping techniques applied,

8.    preparation of reports required by the National Bank of Poland,

9.    whether the bank is equipped with hardware and software,

10.  whether the bank has other basic office equipment,

11.  assurance of conditions necessary for cash service and the security of funds and valuables held at the bank,

12.  IT security,

13.  appropriate signage of the building, and the accessibility and legibility of information for clients.

The authorisation to commence the activity is the second and the last element of a bank licence. The authorisation expires if the bank does not commence its activity within a year from the date of issuance of the authorisation.