▁of ▁a ▁government ▁commission er ▁and ▁the ▁state ▁took ▁a ▁significant ▁amount ▁of ▁shares . ▁During ▁the ▁People ' s ▁Republic ▁of ▁Poland ▁it ▁was ▁one ▁of ▁two ▁banks ▁( al ong ▁with ▁Pe ka o ▁SA ), ▁operating ▁as ▁a ▁joint ▁stock ▁company . ▁ ▁After ▁ 1 9 4 5 , ▁the ▁bank ▁was ▁the ▁main ▁Polish ▁foreign ▁correspond ent ▁bank , ▁and ▁in ▁ 1 9 6 4 ▁it ▁received ▁the ▁official ▁mon opol y ▁on ▁Polish ▁foreign ▁trade ▁transactions . ▁This ▁resulted ▁as ▁a ▁consequence ▁of ▁the ▁construction ▁of ▁the ▁then - larg est ▁Polish ▁financial ▁institution al ▁network ▁of ▁correspond ent ▁banks , ▁opening ▁a ▁branch ▁in ▁London , ▁foreign ▁representative ▁offices ▁in ▁New ▁York ▁City , ▁Moscow , ▁Bel grade , ▁Rome ▁and ▁Berlin , ▁and ▁affili ation ▁in ▁Vienna , ▁Luxemb ourg ▁and ▁Frankfurt . ▁After ▁ 1 9 8 9 , ▁the ▁bank ▁lost ▁a ▁privile ged ▁position ▁in ▁foreign ▁trade ▁and ▁began ▁to ▁transform ▁gradually ▁into ▁a ▁commercial ▁bank , ▁opening ▁a ▁number ▁of ▁branches ▁around ▁the ▁country . ▁ ▁During ▁the ▁political ▁transformation , ▁the ▁bank ▁( es pecially ▁a ▁bank ▁branch ▁in ▁Luxemb ourg ) ▁had ▁played ▁a ▁significant ▁role ▁in ▁the ▁sc andal ▁of ▁the ▁Foreign ▁Deb t ▁Service ▁Fund ▁( F und usz ▁Ob s ług i ▁Z ad łuż enia ▁Zag ran iczn ego ▁- ▁FO Z Z ) ▁Z b ign iew ▁Mas ł owski , ▁the ▁Director ▁of ▁the ▁Com mer cial ▁Bank ▁in ▁Luxemb ourg ▁in