Bank Polska Kasa Opieki, better known as Bank Pekao (from its initials P.K.O.), offers retail, corporate, and investment banking services, primarily in Poland. It also provides leasing and asset management services. Branches can also be found in France and the Ukraine. In addition to traditional deposit products, Bank Pekao offers loans, leasing and factoring services, custodial services, currency exchange, and foreign trade facilitation. Originally founded as a state-owned bank to provide banking services to Polish emigrants, Bank Pekao is now controlled by Italian bank UniCredit, which holds approximately 53% of its shares.