Metals-banka or Development Bank of Vojvodina (Развојна Банка Војводине), is a Serbian commercial and investment bank, which declared bankruptcy in 2013.
History
The bank was founded in 1990 by metal processing enterprises.
Since 2001, Metals Banka has strengthened its position on the market, becoming the majority owner of the banks DTD banka and DDOR banka, which later merged with Metals banka. The bank maintains a strategic partnership with the insurance company DDOR Novi Sad, which is the bank's main shareholder with 15.12% of the capital. Metals banka was included in the BELEX15 index on December 12, 2006 on the Belgrade Stock Exchange. In July 2009, the Vojvodina government took over 61.9% of the shares.[1]
In 2005, the bank acquired its rival "DDOR banka" in 2005 for an undisclosed amount.[2] 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".[2][3]