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12:45 p.m. to 3 p.m.
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Hospodárska úverná banka, Brezová pod Bradlom
Hospodárska úverná banka (Farm Credit Bank) in Brezová pod Bradlom was established in 1906 under the name Vrbovská úverná banka (Vrbové Credit Bank), Vrbové, with share capital of 100,000 Austro-Hungarian crowns (K). In 1917, the chairman was Móric Löwinger, the treasurer Mózes Weinwurm and the accountant Bernhard Berkovitz.
The bank’s main activities were to take deposits on savings books and current accounts, to discount and rediscount promissory notes and commercial papers, to conduct banking transactions, to trade in commodities and real estate, to provide loans, mortgage loans and loans against pledges, and to intermediate purchases and sales. The bank’s endeavours were relatively lucrative, with deposits on savings books and current accounts reaching nearly K 2 million by the end of 1918. It paid regular dividends ranging from 2.4% in 1907 to 7% in 1917.
The bank was adversely impacted by the break-up of Austria-Hungary and the establishment of the first Czechoslovak Republic because its funds were tied up in Budapest. It had invested a significant amount in war loans, which it managed to have recognised as claims against the Czechoslovak Republic with help from the banking industry association Jednota peňažných ústavov na Slovensku a Podkarpatskej Rusi (Association of Financial Institutions in Slovakia and Sub-Carpathian Ruthenia) in Bratislava. By 1921 the bank faced what was, by its standards, a staggering loss of 1.68 million Czechoslovak crowns (Kč) and it was forced to cease taking deposits.
By 1925, the bank had overcome the post-war crisis and stabilised its position. On 30 March 1925, the general meeting decided to adopt the name Hospodárska úverná banka and relocate the bank’s headquarters to Brezová pod Bradlom. It retained a branch in Vrbové managed by authorised signatory Alfréd Neradil. The bank covered its losses by reducing its share capital from Kč 500,000 to Kč 20,000. However, in the same year it issued 5,000 new shares with a nominal value of Kč 200 each, which raised Kč 1 million of fresh capital.
The bank’s recovery was reflected in the level of deposits on savings books and bank accounts. Whereas in 1924 they amounted to just Kč 278,012, they grew to Kč 8,542,329 in 1925. There was a similar increase in loans against current accounts, promissory notes and mortgages, which grew from Kč 170,314 in 1924 to Kč 3,849,479 in 1925.
The good economic performance was the result of the bank’s cooperation with Slovaks who had emigrated to America. Total turnover as of 31 December 1926 was Kč 69,599,141 with a net profit of Kč 133,517, thanks to which it was possible to pay out a 7% dividend on the share capital of Kč 1 million (Kč 14 per share) and bonuses of Kč 35,000 for the managers. Profitable operations continued in 1927 and 1928. The main business activity was lending. The net profit for 1928 amounted to Kč 116,093.
In 1928, the composition of the bank’s board of directors was a follows: Štefan Papánek, a private citizen from Brezová was the chairman, Samuel Gašparec, a private citizen from Brezová was the vice-chairman, and the other members were Emanuel Kováč, the manager of a bank at Veľká Bytča, Samuel Papánek, a banker from Chicago, Martin Papánek, a banker from Chicago, Samuel Rechtoris, a merchant in Brezová, Juraj Krutý, a private citizen from Brezová and Ján Černý, a private citizen from Brezová. The chairman of the supervisory board was Ján Lichner, the Lutheran pastor in Brezová, and the members were Ján Michálek, a farmer from Brezová, Ivan Jurkovič, a bank auditor from Bratislava, and Ján Ciran, a tanner from Brezová. The largest shareholder was Štefan Papánek who owned 2,100 shares, followed by Samuel Gašparec and Juraj Krutý who each owned 500 shares.
The bank suffered a severe blow from the economic crisis that began in 1929 because it was largely dependent on the success of the local tanning industry and wool trade and the levels of employment in these sectors, which were amongst the worst affected by the downturn.
The bank reduced its lending in 1931 – 1932 and nearly stopped loans altogether in 1933. At last, the bank was able to benefit from the economic revival in 1936 as local industries began seeking credit to expand their operations again. The bank also recorded a slight growth in business in 1937, making a net profit of Kč 45,163.
The bank’s activities were ultimately terminated by Decision No 6661/1940-II/16 of the Ministry of Finance of 5 September 1940 and on 15 March 1941 the general meeting of the bank authorised its takeover by Myjavská banka.
In 1956, the bank’s files were deposited in a disorganised condition in the corporate archive of Štátna banka československá, which was established in the former monastery at Marianka. Partial processing of the archival fonds was carried out there and an inventory was made, which was revised in the Archives of Národná banka Slovenska at 8 Cukrová Street in Bratislava, where the fonds has been stored since 2003.
Last updated: Wednesday, December 27, 2023