Arhivski vjesnik, Vol. 59 No. 1, 2016.
Original scientific paper
The Brothers Turković Bank Plc. Zagreb (1919-1948)
Siniša Lajnert
Abstract
The paper examines organization, business activities and liquidation of the Brothers Turković Bank Plc. dating back from 1919 when the bank was established until 1948 when it was liquidated. The bank was originally established in January 1919 as a privately owned bank by brothers Vladimir, Davorin and Velimir Turković under the name the Bank Office of Brothers Turković in Zagreb. The company was a public trade association, and the aforementioned brothers Turković were public members. In October 1920 the bank was converted into public limited company and named the Brothers Turković Bank Office Plc. Zagreb. In May 1922 the bank entered a close community of interests with the First Croatian Savings Bank, which owned 25 percent of the shares in the beginning of 1935, while Banac company owned 15 percent, and brothers Turković owned the remaining 60 percent of the shares. The bank was conducting regular banking business and financial operations of Turković family. It was also selling Belgian cars, motorcycles and bicycles. The demise of the Brothers Turković Bank Plc. Zagreb came with global economic crisis when it was unable to collect its receivables and monetize other assets due to disrupted debtor-creditor relationships. Owing to these circumstances, people were cancelling and collecting their shares more than usual. Bank’s business decreased significantly and soon it started to lose money. The Brothers Turković Bank had not conducted business ever since 1932 when it was befallen by difficulties. For many years the bank had remained in silent liquidation. The bank’s liquidation was decided on September 21, 1946, as a part of planned abolition of privately owned financial institutions in Socialist Yugoslavia, and completed on July 5, 1948.
Keywords
Brothers Turković; bank office Plc. Zagreb; Brothers Turković Bank Plc. Zagreb; organization; general assembly; directorate; supervisory bord; balance; economic crisis; liquidation
Hrčak ID:
182504
URI
Publication date:
15.9.2016.
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