Metals-banka
Metals-banka or Development Bank of Vojvodina, is a Serbian commercial and investment bank, which declared bankruptcy in 2013.History
The bank was founded in 1990 by metal processing enterprises. In 2005, the bank acquired its rival "DDOR banka" in 2005 for an undisclosed amount. 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". In April 2013, the bank went into bankruptcy procedure due to insolvency. It was caused by issuing loans without proper guarantees, which cost the bank around 20 million euros.
