The Merger of the Warsaw Regional Branch of the NBP and the Chief Branch of Foreign Exchange
As of 1 May 2005, the Warsaw Regional Branch of the National Bank of Poland and the Chief Branch of Foreign Exchange (GOWD) of the National Bank of Poland in Warsaw will merge into one organisational unit (The Regional Branch in Warsaw) that will carry out all present functions of the two merged entities.
As a result of this merger, the quality of services provided by the National Bank of Poland will be greatly improved. Comprehensive services for institutional *) clients delivered by the Warsaw Regional Branch will include, among others:
- domestic and foreign operations (deposits, withdrawals, checking operations, bank transfers),
- providing domestic banks with Polish and foreign currencies,
- concentrated technical procedures, such as B2B and electronic banking for foreign currency transactions.
Following the transformation of the GOWD and the Regional Branch into one operational unit, clients will have access to integrated transaction monitoring from the moment of registration to the realisation of the transactions.
Thanks to the merger, the operational costs of both units will be reduced, largely as a result of the liquidation of overlapping functions (e.g. cashiers and office workers) and of the reduction in the number of inter-branch operations. There will also be a streamlining of the task management, primarily in the area of accounting activity as well as cash and issue operations.
Following the merger, individual clients
will still have access to the following services at NBP cash-desks:
- cash deposits to the accounts at the NBP,
- purchase of commemorative and collector coins,
- conversion of currencies,
- exchange of damaged banknotes.
*) Following the merger, the NBP Regional Branch in Warsaw will service the accounts of: 1. Central and other government institutions, such as the Ministry of Finance; 2. State budgetary institutions and treasury offices, regional and district courts; 3. State special purpose funds; 4. The World Bank Group; 5. the International Monetary Fund; 6. institutions, organs, and organisations of the European Union, such as the Polish membership contribution account; 7. Other international organisations, such as agencies of the United Nations; 8. Polish Cooperative Credit and Loan Organisation; 9. Those set up for the purpose of managing funds from European Union funds.