The text recounts the history of the Marmorosch Blank Bank, beginning in the mid-19th century, when Jacob Marmorosch and his brother-in-law Jacob Löbel helped establish the branch of the Imperial Ottoman Bank in Bucharest. Mauriciu Blank, associate of the bank, later became a successful banker. The bank played an important role in financing the Romanian State, including during the War of Independence. Under the leadership of Mauriciu Blank, the bank became involved in the industrial and banking development of Romania, financing projects such as the construction of railway lines and the modernization of the port of Constanța.
In the interwar period, the Bank of Marmorosch Blank reached the height of its power and influence, having 25 branches in the country and 4 abroad. However, in the 1930s, the bank ran into a serious financial crisis and the government intervened to prevent the collapse of the banking system. Initial proposals to merge the banks were rejected, and the Marmorosch Blank Bank officially went bankrupt in 1931. Aristide Blank, the bank's CEO, resigned, and the government took over the bank, covering the deficit.
After the bank's bankruptcy, Blank was involved in shady dealings, including pressuring Bucharest City Hall to buy overvalued land and obtaining a monopoly in the sale of tobacco, salt and matches. With the support of King Charles II, Blank avoided legal consequences and continued to make an impact in business until the bank was nationalized in 1948.
Sursa: adevarul.ro
