In accordance with Article 32(1) of the Banking Law, the initial capital provided by the bank founders must not be less than the equivalent of EUR 5 million converted into PLN at the average exchange rate announced by the National Bank of Poland, effective on the day of the issuance of the authorisation to establish the bank. The bank’s initial capital provided in cash must be paid by the founders in the Polish currency into a bank account at a domestic bank, opened for the purpose of making payments for the bank’s initial capital, and the initial capital of a bank in the form of a joint-stock company and a cooperative bank should be paid in full before the bank is entered in the relevant register (Article 32(3) and (4) of the Banking Law). In accordance with Article 30(5) of the Banking Law, the bank’s initial capital must not origin from any loan or credit, or unreported sources. In accordance with Article 30(2) and (4) of the Banking Law, a part of the initial capital may be provided in the form of non-cash (in-kind) contributions in the form of equipment and real property, if they are to be of direct use in conducting banking activities, except that the initial capital paid in cash must not be less than the amount specified in Article 32(1) of the Banking Law, and the value of an in-kind contribution must not exceed 15% of the initial capital (Article 30(2) of the Banking Law); in particularly justified cases, the KNF may give its consent for the limit to be exceeded.
In the case of cooperative banks whose founders expressed their intention to associate with an affiliating bank of their choice, the initial capital must not be less than the PLN equivalent of EUR 1 million.