20 Korun

Národní Banka Československá was established in 1926, the same year this note was issued, replacing the earlier Bankovní úřad ministerstva financí that had managed Czechoslovak currency since independence in 1918. The transition was significant — this was the first series issued under a proper central bank statute, giving the institution formal independence from the Finance Ministry.

The 20 Koruna denomination was printed by the American Bank Note Company, whose involvement in early Czechoslovak issues reflected the republic's deliberate turn toward Western institutional partners in the postwar years.