Böhmische Escompte-Bank

The Böhmische Escompte-Bank ( ; lit. 'Bohemian Discount Bank'; BEB) was a significant Prague-based bank with branches in most major towns of Bohemia and, later, Czechoslovakia. In 1919 it was renamed Böhmische Escompte-Bank und Credit-Anstalt (BEBCA). Its name was changed back to Böhmische Escompte-Bank in 1939, and it ceased activity in 1945.

Austria-Hungary

The Böhmische Escompte Bank was founded in 1863 with sponsorship from the Vienna-based Niederösterreichische Escompte-Gesellschaft, aiming at promotion of industry with a main clientele of German-speakers and Bohemian Jews. In 1901, it was wholly taken over by the Niederösterreichische Escompte-Gesellschaft.

Czechoslovakia

In 1919, the Niederösterreichische Escompte-Gesellschaft was expropriated under the Czechosolovak policy of "nostrification", and Prague-based Živnostenská banka became the bank's controlling shareholder. Also in 1919, the Böhmische Escompte-Bank took over the former operations of Creditanstalt (CA) in what had become Czechoslovakia, and had CA's former Prague branch building remodeled in 1924 by Karl Jaray. The bank subsequently changed its name to BEBCA. It ranked third or fourth among Czechoslovakia's joint-stock banks during most of the interwar period.

Nazi era and aftermath

Immediately after the conclusion of the Munich Agreement, the management of BEBCA sought talks with Deutsche Bank and Dresdner Bank in early October 1938 in order to achieve the best possible sale of its Sudetenland branches. At that time, political or racial motives played a subordinate role in the takeover negotiations, which were conducted jointly with the Jewish and German-Bohemian members of the BEBCA management. The positions taken during the talks were determined exclusively by banking, business organization, and competition policy considerations.

However, the major German banks had a much greater interest in the far more powerful Živnostenská Banka, instead of the less significant and financially more vulnerable BEBCA. In contrast, the German political authorities recognized the need to cooperate with Czech companies if they were to achieve their goal of integrating Bohemia and Moravia economically into the new Greater German Reich. For this reason, the Reich Commissioner for Banking, Friedrich Ernst, rejected all attempts by German banks to take over Živnostenská.[1]

After the creation of the Protectorate of Bohemia-Moravia, Dresdner Bank took a majority stake in BEBCA, which it renamed Böhmische Escompte Bank.[2] It also took over the Commercial & Industrial Bank, previously the Czechoslovak affiliate of the Austrian

See also

• Živnostenská banka
• Anglo-Czechoslovak and Prague Credit Bank
• List of banks in the Czech Republic

External links