The essential requirements for the establishment of a bank are defined in Article 30(1) of the Banking Law. Under the said provision, a bank may be established if:
- the bank has been provided with the following:
- its own funds commensurate to the type of banking activities expected to be conducted and to the scale of the intended activity,
- premises equipped with appropriate technical facilities for the proper safekeeping of funds and valuables held at the bank, taking into consideration the scope and type of its banking activities,
- the founders provide a guarantee of sound and prudent management of the bank,
- the persons proposed as members of the supervisory board and management board at the bank meet the qualification requirements set forth in statutory law,
- the bank’s business plan for the period of at least three years submitted by the founders indicates that the activity will be safe for the funds held at the bank.