Živnostenská Banka
UniCredit Bank Czech Republic | |
Headquarters | Prague, Czech Republic |
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Živnostenská banka (Full name until 1910 Živnostenská banka pro Čechy a Moravu v Praze, lit. 'Small Business Bank for Bohemia and Moravia in Prague',
Austro-Hungarian era
Živnostenská banka was established in 1868 as a joint-stock company, acting as a middleman between the
Just before the outbreak of World War I, ZIBA had 1,068 employees, 11 branches in Bohemia and Moravia, and branches in Vienna, Kraków, Lviv, and Trieste. At that time ZIBA alone accounted for almost a third of the total capital of the Czech banking system.
During World War I, it had to liquidate its branches in Kraków and Lemberg (now Lviv), whose businesses were transferred to local players.[2]
Independent Czechoslovakia
ZIBA grew rapidly in the wake of the formation of the Czechoslovak Republic in late 1918. In 1919, it took over control of the Böhmische Escompte-Bank (BEB) from the expropriated Austrian bank Niederösterreichische Escompte-Gesellschaft, and the BEB in turn acquired the operations of Austria's Creditanstalt in Czechoslovakia. At the same time, ZIBA opened branches in Bratislava and Košice which had become part of the new country.[4]
ZIBA's managing director Jaroslav Preiss was instrumental in formulating Czechoslovakia's economic-nationalistic "nostrification" policy, [5] which forced the transfer of ownership of assets in Czechoslovakia to domestically-headquartered companies. This law also protected Czech banks from foreign competition. ZIBA consequently developed its investment banking activity. In 1922, it established a branch in London. It fostered mergers among large Czech industrial corporations, for example the creation of the mechanical engineering colossus ČKD, and systematically built up a dominant industrial portfolio, controlling 60 companies. In 1925, it shored up the Czech Bank in Prague (Czech: Česká banka v Praze) jointly with the National Bank of Czechoslovakia, and eventually took it over in 1939.[6]
In 1928, ZIBA sold its Trieste branch and
Nazi era
On 12 March 1938,
During Nazi occupation from 1939 and World War II, ZIBA was the only Czech bank that escaped direct annexation by German interests. Even so, it was forced to accept German control and to contribute heavily to financing the Nazis' war expenditures. It purchased almost a billion crowns' worth of Reich treasury bills, a sum about three times the ZIBA's capital stock. In June 1939, it fully took over the Czech Bank in Prague at the German authorities' request.[6]
Postwar nationalisation and Communist era
In 1945, the new Czechoslovak government nationalized ZIBA, together with all other Czechoslovak banks.
A London Office of Zivnostenska Banka existed at No.48 Bishopsgate, managed by Bruno Pollack and his deputy Leonard Dunstan. The bank continued to exist on that site into the 1950s when it moved to another part of the City.[citation needed]
Between 1950 and 1956, ZIBA continued to exist as a legal entity. Starting in 1956, ZIBA's past international and foreign exchange experience led the government to revive it and make it the primary Czechoslovak bank for Comecon import and export business, in which its London branch played a significant role. ZIBA was the repository for all foreign currency accounts maintained by expatriates, foreign firms operating in Czechoslovakia, and state agencies facilitating "invisible" trade such as tourism. In 1988, ZIBA resumed corporate business.
Post-Communist transition and merger into UniCredit
In 1992, ZIBA became the first bank in Central and Eastern Europe to be privatized.
In 2002,
Buildings
In the late 19th century, ZIBA erected a new head office on the prestigious
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ZIBA head office on Na příkopě, Prague, in 1905
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ZIBA building as reconstructed in the late 1930s, viewed from Náměstí Republiky
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Statue of Lucifer by Antonín Popp, retained from the 1900 head office building
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Safe in the ZIBA building's basement
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Former branch in Vienna, Herrengasse 12
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Former branch in Olomouc (center)
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Former branch in České Budějovice[11]
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Former head office of Zemská Banka, serving as ZIBA's head office in the 1990s and 2000s
See also
- Anglo-Czechoslovak Bank
- Zemská Banka
Notes
- ^ Susanne Wurm (6 February 2017). "Types of banks in the Habsburg Empire". Central European Economic and Social History.
- ^ a b c d "Živnostenská banka (Gewerbebank), Živnobanka, dříve Živnostenská banka pro Čechy a Moravu". SecurityPrinting.org.
- ^ "Hrvatska zemaljska banka d.d." National Archive of Croatia.
- ^ a b c František Chudják. "Živnostenská Banka in Slovakia" (PDF). National Bank of Slovakia.
- ^ Chris Johnstone (8 September 2011). "Jaroslav Preiss: banking and business colossus of inter-war Czechoslovakia". Radio Prague International.
- ^ a b "Česká banka v Praze". Czech National Bank.
- ^ Rudolf Štancl (1967). "Die Entwicklung des Kreditsystems der Tschechoslowakischen Republik von 1945 bis 1948" (PDF). Masaryk University. Sborník prací Filozofické fakulty brněnské univerzity.
- ^ Rick Jervis (15 April 2002). "Interest in Czech Bank Heats Up As More Suitors Express Interest". Wall Street Journal.
- ^ "UniCredit: Squeeze out of minority shareholders of Zivnostenska banka a.s." UniCredit. 9 January 2006.
- ^ "The Czech National Bank returns to its headquarters on Na příkopě". Czech National Bank. 4 February 2000.
- ^ Václav Vondra. "bankovnictví". Encyklopedie Českých Budějovic.