Slovak National Bank

Slovak National Bank (Slovenska narodna banka - SNB) was constituted as the bank of issue in 1939 consequent to the rise of an independent Slovakia (1939-1945). SNB was a joint stock company with share capital of 100 million Ks (Slovak crowns). The Slovak State owned a 60% stake, and the remaining 40% was held by Deutsche Golddiskontbank. The first person to govern the SNB was Imrich Karvas, whose tenure ended in 1944, when he was replaced by Rudolf Kubis. Vice-governor Jozef Fundarek stayed in office until March 1945, when the government appointed Jan Balko to replace him. The activities of the SNB were terminated by presidential decree from 19th of October, 1945, and on 26th of November, 1945. Slovenska narodna banka became part of the NBCS. The SNB records amount to about 50 shelf-meters of documents, some of the most valuable of which are minutes of the general assembly, the banking council and the board of directors. Also of interest are reports dealing with the design and introduction of Slovak currency, circulation and records of legal tenders, as well as the bank's foreign exchange policy.

Abandoned design of 100-crown banknote by Jozef Kubas (1940) Abandoned design of 100-crown banknote
by Jozef Kubas (1940)
With the end of World War II and the formation of the Czechoslovak Republic, the entire banking industry was turned upside-down by presidential Decree No. 102/1945, nationalizing private banks to be in effect from October 24, 1945. The final blow came in 1948, when the commercial banks were forced to merge into a single Slovenska Tatra banka. Finance and investment control was assigned to a single countrywide bank - Investicna banka. The National Bank of Czecho-Slovakia remained the bank of issue.