On March 7, 1929, by decision of the Minister of Treasury, Bank Polski Polska Kasa Opieki S. A. was established. The bank was to provide financial services in all major emigration centers in order to ensure that as much as possible of the emigrants' savings went through Polish banks.
During the first 10 years of operation, overseas posts were opened in: Argentina, France, Palestine and the USA
After 1945, the bank additionally took on the handling of international financial operations of the Polish People's Republic government.
In the 1970s BANK PKO S.A. received permission to operate foreign exchange accounts for individuals holding foreign currency of undocumented origin.
Since 1989, the bank has offered universal operations with retail, corporate and investment banking offerings.
On December 14, 1994, the Bank Guarantee Fund Act came into force (Journal of Laws 1994.4.18), and until December 31, 1999, the Treasury guaranteed for the bank's liabilities on savings deposits for which registered certificates were issued.
The certificate was evidence of the conclusion of a savings deposit agreement for a certain number of months from the date of issue between the holder of the voucher and PKO S.A..
The term of the deposit, its interest rate and the owner's data were entered on the certificate on the day it was issued.
Each certificate was guaranteed by the Treasury
Certificates were foreign exchange values and their trading was subject to restrictions under the foreign exchange law on foreign exchange trading
Each certificate was redeemable after the period indicated on it. An unexercised certificate was subject to redemption and in accordance with the provisions on redemption of registered savings certificates.
Each certificate, depending on the number of months, had a certain number of coupons.
Registered certificates of 24 months
The 24-month certificate had 4 coupons payable after 6 , 12, 18 and 24 months, plus an additional bonus coupon for redeeming all interest coupons plus a check coupon
The certificates have a running watermark Type XIV - a linear figure with the letter K in an oval
