Metals-banka

Metals-banka (Serbian: Металс-банка) or Development Bank of Vojvodina (Serbian Cyrillic: Развојна Банка Војводине), is a Serbian commercial and investment bank, which declared bankruptcy in 2013.

Metals-banka a.d. Novi Sad
Joint-stock company
ISINRSMETBE05070 
IndustryFinancial services
FateBankruptcy procedure
(since 2013)
Founded1990 (1990)
Headquarters
Novi Sad
,
Serbia
ServicesCommercial and investment banking
Websitewww.rbv.rs 

History

The bank was founded in 1990 by metal processing enterprises. In 2005, the bank acquired its rival "DDOR banka" in 2005 for an undisclosed amount.[1] In 2010, a majority of shares of Metals-banka was acquired by the provincial government of Vojvodina and turned into the "Development Bank of Vojvodina".[1][2] In April 2013, the bank went into bankruptcy procedure due to insolvency.[3] It was caused by issuing loans without proper guarantees, which cost the bank around 20 million euros.[3]

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References
  1. "Razvojna Banka Vojvodine A.D." Emerging Markets Information Service (EMIS). Retrieved 4 May 2012.
  2. "Metals-banka becomes the Development Bank of Vojvodina". www.rbv.rs. 28 September 2010. Retrieved 24 June 2012.
  3. "Razvojna banka Vojvodine od danas u stečaju". 021.rs (in Serbian). 8 April 2013. Retrieved 17 May 2018.
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