Investment Bank Titograd

Investment Bank Titograd (Serbo-Croatian: Investiciona banka Titograd, IBT) was a bank in Titograd, now Podgorica, Montenegro. Originally established in 1962 as Commercial Bank of Montenegro (Privredna banka Crne Gore) and renamed as IBT in 1966, it was the most significant bank in the Socialist Republic of Montenegro in later-era Yugoslavia.[1]: 151  It was rebranded in 1990 as Montenegrobanka Titograd,[2] then in 1992 as Montenegrobanka Podgorica following the capital city's renaming. NLB Group eventually purchased Montenegrobanka in 2003.[3]

Overview

The Commercial Bank of Montenegro was established in 1962 by spinoff from the National Bank of Yugoslavia, then renamed as IBT in 1966.[4] It was reorganized in 1970,[5] and again on 16 January 1978 as a so-called associated bank.[6]: 2  As such, it became one of nine associated banks that henceforth formed the backbone of Yugoslavia's banking sector, together with Beogradska Banka and Jugobanka in Belgrade, Vojvođanska Banka in Novi Sad, Kosovska Banka in Pristina, United Bank of Croatia in Zagreb, Ljubljanska Banka, Privredna Banka Sarajevo, and Stopanska Banka Skopje.[7][8]: 60  It opened a branch in New York in early 1981.[1]: 157 

IBT's successor Montenegrobanka was still the country's leading bank by the early 2000s. In 2001, the Montenegrin authorities initiated its reorganization,[9]: 38  followed by a privatization process in 2002-2003.[10]: 21  NLB won the privatization process in June 2003, thus becoming the largest bank in Montenegro,[11]: 39  with an ownership stake of 91.5 percent.[9]: 40  The bank was subsequently rebranded as MNB Crnogorska Banka, then NLB Banka Podgorica.

See also

References

  1. 1 2 Dragutin Papovıć (2023), "Cold War Diplomacy and US-Socialist Yugoslavia Fruitful Relations: An Examination of the Establishment of US-Montenegro Cooperation in 1980" (PDF), Acta Histriae
  2. ↑ "Bank History". Prva Banka Crne Gore. Retrieved 23 April 2026.
  3. ↑ Iskra Pavlova (8 June 2007). "NLB Montenegrobanka To Place 10 Mln Euro Bond". SeeNews.
  4. ↑ Vasilije Milić (25 July 2001). "Novac i banke u Crnoj Gori - Pogled u proslost". Crna Gora / Montenegro Forums.
  5. ↑ "Statut Investicione banke Titograd". Cobiss Plus. Retrieved 26 April 2026.
  6. ↑ Loan Agreement (Montenegro Earthquake Rehabilitation Project - Highways) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and REPUBLIKA SAMOUPRAVNA INT3ESNA ZAJEDNICA ZA PUTEVE, S.R. CRNA GORA, TITOGRAD (Self-Managing Republic Community of Interest for Roads of the Socialist Republic of Montenegro, Titograd) (PDF), World Bank, 21 September 1979
  7. ↑ Case of Ališić and Others v. Bosnia and Herzegovina, Croatia, Serbia, Slovenia and the former Yugoslav Republic of Macedonia - Judgment, European Court of Human Rights, 6 November 2012
  8. ↑ Saša Ilić (2022), Socialist Banking: The continuous evolution of the banking sector in Yugoslavia (1944/45–1991/92) (PDF)
  9. 1 2 Jelena Radzic & Ayse Yuce (February 2011), "Banking Development In The Former Yugoslavian Republics", International Business & Economics Research Journal (7(9))
  10. ↑ Veselin Vukotić (June 2004). "Elements for Understanding Economic Reforms in Montenegro" (PDF). WIIW Vienna Institute for International Economic Studies.
  11. ↑ Montenegro - Enterprise Policy Performance Assessment (Serbia and Montenegro) (PDF), Organization for Economic Co-operation and Development, September 2003
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