[2] The initial capital was provided by ethnic-Serbian entrepreneurs in Croatia as well as Syrmia, Bačka and Banat, regions that were then all part of the Kingdom of Hungary.
Kosta Taušanović, a political leader in the neighboring Kingdom of Serbia, was in Zagreb at the time and provided support for the bank's creation.
[4] In 1910, as political conditions did not allow it to maintain a branch in the Kingdom of Serbia, the Serbian Bank established the "Danubian Joint-Stock Company" (Croatian: Podunavsko - Trgovačko Akcionarsko Društvo) as its affiliate in Belgrade.
[5] In 1914, it absorbed the Central Credit Institute (Serbian: Centralni Kreditni Zavod), another ethnic-Serbian bank in Novi Sad.
By 1924, it had branches in Dubrovnik, Knin, Mitrovica, Šibenik, Split, Sombor, and Subotica, in addition to Zagreb and Novi Sad.