THE PRIVILEGED AGRARIAN BANK NATIONALISED AFTER THE SECOND WORLD WAR

Original scientific paper
Autor: Prof. Dragana Gnjatović PhD

Summary: Under the occupation and with the dismembering of the sovereign Yugoslav territory and its monetary and financial realm, the Privileged Agrarian Bank found itself broken down into several independent institutions. Immediately following the end of war, this institution, specialised in agrarian crediting, regained its pre-war formal legal status. Its short-term post-war function, however, was not to regain the character of its previous status. There were many reasons for this. Firstly, the documentation kept at the headquarters of the Bank in Belgrade, perished in the bombing fire during the war, hence the valid evidence on its balance sheet status was missing. Secondly, reconstruction of these balance sheets primarily depended on the reconstruction of the pre-war agrarian debt portfolio, which was impossible to substantiate with any valid documents or in any reliable manner. Thirdly, in the process of preparations for the introduction of a centrally planned economy in Yugoslavia, the Bank was renamed into the Cooperative and Agrarian Bank, and to that end was nationalised thus changing its ownership structure and the manner of governance. The Bank finally ceased to exist when it merged with the National Bank of the FNRJ (Federal People’s Republic of Yugoslavia - FPRY). Portfolio of the pre-war agrarian debts was transferred to the care and auspices of the State Investment Bank. Hence the topic of these debts never came to its ultimate conclusion as the objective grounds were absent for any broader implementation of the Law prescribing for their final liquidation, passed in November 1945.

Back to top
Back to top