Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.

    Inhabitants - 38,441,588 (July 2011)

    Language - Polish (official) 97.8%, other and unspecified 2.2%.

    Currency - Polish zloty (PLN), floating, exchange rate ~ 0.24 EUR

    Religion - Roman Catholic 89.8% (about 75% practicing), Eastern Orthodox 1.3%, Protestant 0.3%, other 0.3%, unspecified 8.3%.

    Politics - The politics of Poland take place under the framework of a parliamentary, representative and democratic republic, wherein the Prime Minister is the head of government of a multi-party system and the President is the head of state. Executive power is exercised by the Council of Ministers. Legislative power is vested in both the government and the two chambers of Parliament (known collectively as the "Sejm"), the Sejm and the Senate. The judiciary is independent of the executive and the legislature.

  • Major industries - machine building, iron and steel, coal mining, chemicals, shipbuilding, yacht building, food processing, glass, beverages, textiles.

    Banks (2010) - 646 banks; 14,170 branches; 176,915 employees; assets – EUR 292,42 billion; loans – EUR 198,69 billion; deposits – EUR 170,03 billion

    Banking regulations - since 1 January 2008 banking supervision is performed by the Commission of Financial Supervision (CFS). The Supervision Act which has been in force since 18 September 2006 provides new rules concerning supervision of the financial market in Poland. The CFS is an independent, central public administration body, performing banking and other financial institutions supervision in the name of the state. For proceedings before the CFS, use is made of the regulations related to proceedings before administrative bodies. CFS decisions are adopted in the form of resolutions. The minimum initial capital of a bank in the form of a joint stock company has been set as the equivalent in PLN of the amount of EUR 5 million, whereas for a co-operative bank it is EUR 1 million. The requirements relating to initial capital are in accordance with article 5 of Directive 2000/12 on taking up and pursuit of the business of credit institutions.