Participation of Jews in the Serbian Banking

Srpsko bankarstvo koje je započelo osnivanjem Prve srpske banke 1869. godine uoči Balkanskih ratova formirano je od 187 aktivnih novčanih institucija pod nazivima banka, štedionica i zadruga. Kapital ovih monetarnih institucija bio je u nesrazmeri sa njihovim velikim brojem, jer su u to vreme imali samo 51 milion dinara kapitala, što je rezultiralo ograničenom pokretljivošću i neefikasnošću u ekonomskom razvoju zemlje. U vezi sa ulaganjem stranih zajmova i stvaranjem sopstvenih industrijskih preduzeća, strane banke su takođe osnivale svoje institucije. Među privrednicima srpske trgovine tradicionalno su učestvovali pripadnici jevrejskog stanovništva; tokom godina postalo je sve očitije da su u gradskoj ekonomiji učestvovali kao trgovci i zanatlije. Trgovali su uglavnom proizvedenom i industrijskom robom, posebno uvoznom obućom i odećom. Kao izvoznike, pre svega ih je zanimalo žito. Kao zanatlije uglavnom su bili majstori, limari, optičari, sitni proizvođači praktične i dekorativne robe, mada je vremenom broj zanata koji su praktikovali porastao sa 45 na 72. Prošireni obim trgovine zahtevao je veća novčana ulaganja, poput razvoja programa kreditiranja i pridruženih institucija. Jevreji su uglavnom rešavali ove probleme u svojoj zajednici i tako postepeno uspostavljali sopstvene monetarne institucije. Neki od bogatijih i uglednijih privrednika iz ovog kruga bili su povezani sa većim srpskim i stranim bankama - svojim ulaganjima i kao članovi njihovih upravnih tela. Prva institucija jevrejskog kapitala bila je Beogradska trgovačka štedionica, osnovana 1893. godine u Beogradu, a iste godine u Nišu osnovana je Srpsko-jevrejska zadruga. Tokom sledećih godina osnovan je priličan broj jevrejskih banaka: Industrijska banka, Srpska banka, banka Merkur, Kolonijalna banka i Jadranska banka. U većim srpskim bankama značajni akcionari bili su i jevrejski biznismeni, a to su: Eskontna banka, Izvozna banka, Srpska kreditna banka, Francusko-srpska banka, Praška banka i banka Otadžbina.The Serbian banking which began with the establishing of Prva Srpska banka (The First Serbian Bank) in 1869 at the eve of Balkan Wars was constituted of 187 active monetary institutions under the names of the bank, savings bank and cooperative. The capital of these monetary institutions was in disproportion to their large number because they had at the time only 51 million current dinars of capital and that resulted in their limited mobility and inefficiency in the economic development of the country. In relation to the investment of foreign loans and the creation of its own industrial enterprises, the foreign banks were also establishing their own institutions. Among the businessmen of Serbian trade and commerce, the members of the Jewish population have traditionally participated; during the years it has become more and more evident in the urban economy in which they took part as merchants and craftsmen. They mostly traded in manufactured and industrial goods, particularly in imported footwear and clothing. As exporters, they were primarily interested in grain. As craftsmen, they were mainly watching repairmen, opticians, small utilitarian and decorative goods makers, tinsmiths, although in time the number of crafts they practiced has risen from 45 to 72. The expanded scope of commerce has required bigger monetary investments, such as the development of crediting programs and associating institutions. Jews have mostly solved these problems within their community and thus have gradually established their own monetary institutions. Some of the more wealthy and more prominent businessmen from this circle were involved with larger Serbian and foreign banks - with their investments and also as the members of their governing bodies. The first institution of Jewish capital was Beogradska trgovačka štedionica (Belgrade Commercial Savings Bank), established in 1893 in Belgrade and the same year in Niš was set up Srpsko-jevrejska zadruga (The Serbian-Jewish Cooperative). During the following years, these were founded on the relevant number of Jewish banks: Industrijska banka (The Industrial Bank), Srpska banka (The Bank of Serbia), banka Merkur (Mercury Bank), Kolonijalna banka (The Colonial Bank) and Jadranska banka (The Adriatic Bank). These banks were by the amount of their capital second and third line banks. In the larger Serbian banks Jewish businessmen were also the significant shareholders and these were: Eskontna banka (The Accounting Bank), Izvozna banka (The Export Bank), Srpska kreditna banka (Serbian Crediting Bank), Francusko-Srpska banka (French-Serbian Bank), Praška Banka (The Bank of Prague) and banka Otadžbina (The Fatherland Bank)