Poland Boosts Gold Reserves Amid Global Central Bank Rush

Posted on September 14, 2025April 10, 2026 by PZC Office

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The National Bank of Poland (NBP) has announced plans to significantly increase the share of gold within its foreign exchange reserves, aiming to raise its proportion to 30%. In a statement, the NBP emphasized that the pace and scale of these purchases would depend on market conditions.

Currently, Poland’s gold reserves amount to over 515 tons, valued at over PLN 200 billion, which makes up approximately 22% of its total foreign exchange reserves worth PLN 953 billion. National Bank of Poland President Adam Glapiński highlighted gold’s growing significance for financial stability, particularly in times of global uncertainty. Glapiński pointed out that gold is the second most important asset on central banks’ balance sheets worldwide, underscoring its role as a stable store of value amid geopolitical and economic pressures.

As of early September, the bank’s gold holdings stood at 515 tons and 300 kilograms, valued at over PLN 204 billion ($58 billion). Glapiński noted that Poland had begun its intensive gold purchases earlier than many other nations, despite facing political criticism for this decision.

Globally, central banks have been ramping up their gold reserves, marking a significant trend in recent years. Combined reserves now exceed 36,000 tons, a level not seen since the Bretton Woods era over 50 years ago. This surge has been spurred in part by Russia’s invasion of Ukraine, which has heightened global uncertainty. In the last three years, central banks’ demand has grown to account for 20% of global gold purchases, nearly double the average share from the previous two decades.

With global resources limited, gold remains a scarce commodity. Annual production is equivalent to a cube with sides measuring just 5.5 meters, while total reserves would form a cube of only 21–22 meters. This scarcity, coupled with its enduring value, continues to make gold a cornerstone of central bank strategies worldwide.

Implications for Banking and Business

Developments in the Polish banking sector affect businesses operating in the country in several ways. Access to corporate banking services, credit availability, deposit rates, and payment infrastructure are all critical factors for companies — whether established Polish firms or foreign-owned entities entering the market.

For foreign entrepreneurs setting up operations in Poland, choosing the right banking partner is a strategic decision. Major Polish banks including mBank, ING Bank Śląski, Bank Millennium, PKO BP, and Santander Poland offer varying levels of service for international clients, including English-language online banking, multicurrency accounts, and dedicated relationship managers for corporate clients.

The Polish banking market is well-regulated by the KNF (Financial Supervision Authority) and participates in the EU deposit guarantee scheme (BFG — Bank Guarantee Fund), providing deposit protection up to EUR 100,000 per depositor per institution. This regulatory framework provides stability and confidence for businesses maintaining corporate funds in Polish banks.

If you are doing business in Poland or considering entering the Polish market, Zalewski Consulting can help. Learn more about our corporate tax advisory, or contact us for a free consultation.

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About Zalewski Consulting

This article was prepared by the Zalewski Consulting editorial team. We provide professional company formation, tax advisory, bank account opening, and legal advisory services in Poland. Contact us for a free consultation.

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