Czech National Bank is the central bank of the Czech Republic, it also supervises over the financial market. Since its establishing on January 1, 1993 it conducted the control and supervisory activities in the banking sector. In later years its position in the supervisory area has become more significant. In 2006 the integration of all competencies happened and CNB took over the tasks associated with the supervision from other institutions. The aim of this article is to analyze the development of the control and supervisory activities and to focus on the key periods in the activities of the central bank, when it had to deal with the stabilization and consolidation of Czech banks, preparation for joining the European Union and the introduction of a functional model of supervision.