Investbanka
From Wikipedia, the free encyclopedia
Investbanka, full name Investiciona Banka u Beogradu (lit. 'Investment Bank in Belgrade'),[1] was a bank in Yugoslavia, based in Belgrade. Established in 1978, it became unviable following the breakup of Yugoslavia and was placed into liquidation in 2002.
Investbanka was established on 1 January 1978 as part of the restructuring of the Yugoslav Investment Bank (YIB) and Beogradska Banka.[2]: 17 The latter, renamed Udružena Beogradska Banka (UBB), became one of nine so-called associated banks that formed the backbone of the commercial banking sector in Yugoslavia (together with Jugobanka in Belgrade, Vojvođanska Banka in Novi Sad, Kosovska Banka in Pristina, United Bank of Croatia in Zagreb, Ljubljanska Banka, Privredna Banka Sarajevo, Stopanska Banka in Skopje, and Investment Bank Titograd).[3] Investbanka became an affiliate of the UBB Group,[4] and took over many of the YIB's former operations. In its early years of activity, it was a major source of credit in the Socialist Republic of Serbia.[2]: 17
As the YIB had done in earlier years, Investbanka promoted itself as the continuating entity of Uprava Fondova and the State Mortgage Bank of Yugoslavia, even though there was a discontinuity of that legacy (however construed) during Yugoslavia monobank era of the 1950s.[5][6]
On 1 January 1990, in the context of reforms led by Yugoslav prime minister Ante Marković, Investbanka was separated from the UBB cluster and became an independent bank, with head office in Serbia and branches in the other Yugoslav republics.[4]
Investbanka was eventually placed into liquidation in 2002 together with its then-peers Beobanka, Beogradska Banka, and Jugobanka,[7] as public confidence in those banks had effectively evaporated.[8]: 38 The liquidation proceedings were still ongoing by 2015.[9]
