[1]: 90 It merged in 1928 with the Croatian-Slavonian Land Mortgage Bank (Croatian: Hrvatsko-slavonska zemaljska hipotekarna banka, est.
It was granted a monopoly over mortgage operations and, by an act of the Croatian Parliament in 1894, the management of funds of all autonomous administrative bodies, which gave it a significant competitive advantage.
[1]: 131 In the 1920s, it was recapitalized by new domestic and foreign investors including Belgium's Solvay Group, the Berlin-based Disconto-Gesellschaft, Vienna-based Ephrussi and Company, and London-based Lazard Brothers.
[4]: 44 The bank commissioned a modern Belgrade head office from architect Hugo Ehrlich, which was completed in 1930 and represents a significant landmark of architectural modernism in Yugoslavia;[6] its executive management, however, remained in Zagreb.
In 1940, equity control of the Yugoslav United Bank was acquired by a group of Croatian investors.