Peć's Commercial-industrial Bank

• Main Author: Becić Ivan M.
• Format: Article
• Language: English
• Published: Institute of Serbian Culture Priština, Leposavić 2014-01-01
• Series: Baština
• Subjects: peć's commercial-industrial bank; montenegrin bank; industrial joint stock company 'metohia'; fusion; bank 'old serbia'; economic crisis
• Online Access: https://scindeks-clanci.ceon.rs/data/pdf/0353-9008/2014/0353-90081436201B.pdf

In order to protect Serbian civic class from the decline, in Peć 1907 was founded the Fund of 'The Holy Mother of God of Miraculous Icon Pećska'. By liberation from the Osman's authority and becoming the part of the Kingdom of Montenegro, which fully justified the purpose of its foundation, it turned into the Peć's bank. The half of shares and the right to the three thirds of votes in new institution had belonged to Montenegrin bank, what caused conflicts during the post-war renewal of the Bank. Domestic stakeholders of Peć's bank managed to get out from this conflict as winners so that Montenegrin bank from partner turned into stakeholder. New conflict inside the Bank broke out on the fusion with Industrial Joint Stock Company 'Metohia'. As a majority of shareholders had shares in both institutions, there was a desire to merge into a single institution. The opponents of fusion were stockholders who wished that Peć's bank had been dealing with banking business, and the ones realizing the stakeholders with fusion with a large amount of shares in both enterprises would have preponderance. The fused institution was named Peć's Commercial-industrial bank, and during the second half of the 1920s of the 20th century it would have become a money institution with the highest amount of the paid capital in Kosovo and Metohia. The bank was operating well as one of the two main partners within the Group of the Bank 'Old Serbia', and in 1926 became the main stakeholder of the new founded Đakovička bank. Bank's crisis and Moratorium on the repayment of farmer's debts had disrupted the Bank's operations so that it had to look for the protection, liquidate Đakovička bank, and reduce its operations to the payment of savings deposits upon the receipt of money for drafts handed over to the Privileged Agrarian Bank.