Top 10 Banks in Poland
Mesan Ali
Whether you are starting a business in Poland, getting your first job, or looking to secure your savings, opening a bank account can be incredibly beneficial. The banking sector in Poland is robust, with a mix of local and international banks that have established a strong presence in the industry. Different banks lead the market in various categories, making it essential for customers to choose wisely.
However, selecting the right bank can be daunting due to the plethora of options available. To simplify the decision-making process, we have compiled a list of the top 10 banks in Poland, highlighting their standout features and services.
Overview of Banking in Poland
The banking sector in Poland plays a vital role in the nation’s economic development. It consists of both private and state-owned institutions that provide a wide array of services, including personal accounts, loans, and corporate financing.
In addition to local banks, there are also foreign banks operating within Poland, catering to both individual and corporate clients. This diversity in the banking sector ensures that customers have access to a wide range of financial products.
To open a bank account in Poland, you typically need the following documents:
Valid identification (passport or national ID)
Proof of address (utility bill or rental agreement)
Employment contract or proof of income (if applicable)
While some banks offer free account opening, others may charge a monthly or annual maintenance fee, which varies from bank to bank. Additionally, receiving your debit card and checkbook may take several days. Using your bank's ATM is generally free, but transactions at other banks’ ATMs usually incur fees.
Overall, the local banking system is quite affordable, although fees may apply when dealing with foreign currencies or international transfers. In such cases, it's worth considering alternatives like Elevate Pay.
Before diving deeper, let’s take a closer look at the top 10 banks in Poland, presented in no particular order, showcasing their unique offerings.
Top 10 Banks in Poland
Let’s dive into the top 10 Banks in Poland and learn what they have to offer.
PKO Bank Polski
PKO Bank Polski, founded in 1919, is the largest bank in Poland, with a market share of 15.70% as of September 2024. It boasts total assets of PLN 512 billion, reflecting an 8.2% year-on-year increase, and serves 12.1 million customers. In the first half of 2024, the bank reported a net profit of PLN 4.4 billion. PKO Bank Polski participates in Poland's deposit guarantee scheme, covering deposits up to 100,000 EUR per bank per depositor. Among its notable services are the IKO mobile banking application, which allows seamless online banking, and BLIK, a universal payment system that enhances customer convenience.
Bank Pekao
Bank Pekao is one of Poland's leading banks. While specific market share and asset information were not disclosed in the sources, the bank has a significant customer base and offers a variety of financial products ranging from personal accounts to corporate financing. Bank Pekao participates in the deposit guarantee scheme of Poland, ensuring that customer deposits are secure. Although specific notable services were not mentioned, the bank is recognized for its strong customer service and comprehensive banking solutions.
Santander Bank Polska
Santander Bank Polska, a subsidiary of the global banking giant Santander, holds a market share of 8.68%. In 2022, it reported total assets of PLN 238.10 billion and a net profit of PLN 2,449.04 million. The bank has received favorable credit ratings, with Fitch assigning it a BBB+ rating and Moody’s an A1 rating. Santander Bank Polska participates in the country's deposit guarantee scheme, ensuring deposits up to 100,000 EUR are protected. The bank offers tailored financial solutions for individuals, micro, small, and medium enterprises, as well as Polish and international corporations.
mBank
Established in 2000, mBank is renowned for its innovative digital banking solutions. The bank has a market share of 7.65% and total assets amounting to PLN 209.89 billion in 2022. Despite experiencing a net loss of PLN 702.53 million in 2022, mBank remains a significant player in the market. mBank participates in the Polish deposit guarantee scheme, covering deposits up to 100,000 EUR. It offers a comprehensive range of products and services, including retail, business, corporate, and private banking, catering to diverse customer needs.
ING Bank Śląski
With a market share of 7.92%, ING Bank Śląski is another key player in the Polish banking sector. As of 2022, it had total assets of PLN 217.27 billion and reported a net profit of PLN 1,714.40 million. The bank has received high credit ratings, with Fitch assigning it an A+ rating and Moody’s an A1 rating. ING Bank Śląski also participates in the deposit guarantee scheme, safeguarding deposits up to 100,000 EUR. The bank is recognized for its universal banking approach, offering a broad range of retail, corporate, and private banking products and services.
Alior Bank S.A.
Alior Bank S.A. offers diverse financial services, including personal and business banking solutions. While specific market share and asset information for Alior Bank S.A. were not available, the bank has made a name for itself in Poland’s banking landscape. The bank participates in Poland's deposit guarantee scheme, covering accounts up to 100,000 EUR per depositor. While notable services were not specified, Alior Bank is known for its innovative products and customer-centric approach.
BNP Paribas
Bank Polska S.A. BNP Paribas Bank Polska holds a market share of 5.52% and reported total assets of PLN 151.52 billion in 2022. The bank recorded a net profit of PLN 441.50 million in the same year. Although specific credit ratings were not disclosed, BNP Paribas is generally recognized for its solid financial standing. The bank also participates in the deposit guarantee scheme, covering deposits up to 100,000 EUR. It offers innovative financial solutions, including savings and investment products, a wide range of loans, and tailored solutions for micro, SMEs, and corporates.
Getin Noble Bank S.A.
Getin Noble Bank S.A. focuses on delivering various financial services, including personal and corporate banking. While specific details regarding Getin Noble Bank's market share and assets were not provided, the bank is a recognizable name in Poland. Getin Noble Bank participates in the deposit guarantee scheme, ensuring deposits up to 100,000 EUR are protected. Although detailed information on notable services was not available, the bank is known for its customer-oriented approach.
Bank Handlowy w Warszawie S.A.
Bank Handlowy, also known as Citi Handlowy, is a prominent bank in Poland. While specific market share and asset information were not disclosed, the bank is recognized for its diverse range of banking services aimed at both individual and business clients. As a participant in the deposit guarantee scheme, Bank Handlowy safeguards deposits up to 100,000 EUR. While specific notable services were not detailed, the bank is known for its robust digital banking solutions and personalized customer service.
Bank Millennium S.A.
Bank Millennium holds a market share of 4.04% and reported total assets of PLN 110.94 billion in 2022. However, the bank incurred a net loss of PLN 1,015.00 million in the same year. Specific credit ratings were not available, but Bank Millennium participates in the deposit guarantee scheme, protecting deposits up to 100,000 EUR. Bank Millennium provides a wide range of products and services through both direct and indirect channels, catering to private customers, self-employed professionals, SMEs, and large corporations.
Why is Elevate Pay the best Choice for USD Bank Accounts?
Freelancers and remote workers earning in USD often face challenges in managing their international income. Elevate Pay is designed to address these hurdles, allowing users to streamline their financial transactions. With Elevate Pay, users can open a free USD account through a simple three-step sign-up process. This account, provided by Bangor Savings Bank, enables you to receive and store USD funds easily.
Elevate Pay focuses on serving emerging markets, providing tailored customer service that aligns with your specific needs. By downloading the Elevate Pay app on your iOS or Android device, you can start using the service immediately, making it an excellent solution for managing your USD income.
Conclusion
This guide serves as a comprehensive review for anyone looking to open a bank account in Poland. Here, you can find all the essential information about the top banks in the country, ensuring that your decision is well-informed.
Poland's banking sector is replete with reputable institutions, and your final choice will depend on your personal or business needs. By evaluating these 10 banks, you can identify each bank's unique services and make the right decision that aligns with your financial goals.