Bank Handlowy

the central trading bank of Poland, located in Warsaw. It has functioned since 1870 as a joint-stock company. The principal shareholders in the bank as of 1969 were the Ministry of Finance, the Polish National Bank, and the Ministry of Foreign Trade of the Polish People’s Republic.

Until 1964 the bank functioned as a foreign trade bank. Since 1964, in the interests of a better maintenance of foreign trade turnover and economic ties with foreign governments, all foreign currency and credit operations with socialist and capitalist countries have been passed on to the bank. In conformity with the regulations of 1966 the bank carries out settlements and the crediting of foreign trade, receives credits from abroad and grants them abroad, and performs valuta operations in conformity with the foreign exchange plan, as approved by the Ministry of Finance of the Polish People’s Republic. The Bank Handlowy is an authorized agent of the International Bank for Foreign Cooperation (MBES). A current account in transferable rubles has been opened in the MBES in the name of the Bank Handlowy. All receipts, even proceeds of loans, are entered in this account, and all payments for the use of other banks that are members of MBES are made from this account. The share capital of the bank is set at 1,200 million zlotys.