It has been a subsidiary of insurance company PZU SA since 2015 and forms the 10th largest banking group in the country, with more than 8,143 employees as of the end of 2019.

Founded in 2008 by an Italian group Carlo Tassara, the bank debuted on Warsaw Stock Exchange in 2012 with an offering valued at 2.1 billion Polish złoty, the highest in the exchange's history.

[5] In 2013, the bank attracted controversy when its deputy president mentioned that the bank considers collecting big data of its customers, pulling information from online social networks etc.

[7] In June 2015, State-controlled PZU, Poland's largest insurer agreed to buy a 25.3-percent stake in Alior Bank.

[8][9] Currently, the PZU SA Group holds 31.94% of shares of the Alior Bank.