The Marmorosch is a luxury hotel located in the former Marmorosch Blank Bank Palace (Palatul Bancii Marmorosch Blank) in the historic old town of Bucharest.
History Of The Marmorosch Blank Bank
The Marmorosch Blank Bank (Banca Mormorosch Blank) was one of the oldest banks in Romania, originally founded in 1848 by Iacob Marmorosch, and in 1864 in partnership with Mauriciu Blank. In 1905 the bank was transformed into a joint-stock company with a share capital of 8 million lei, which was later increased to 125 million lei. The bank had close relations with foreign banks in Germany, Austria, France, and the US, who were eager to inject money into the rapidly growing Romanian economy. By 1920, the Marmorosch Blank Bank was the most powerful commercial bank in Romania and by 1923 it had 25 domestic branches and 4 abroad, in Paris, Istanbul, Vienna, and New York.
When the world financial crisis broke out in 1930, the Marmorosch Blank Bank could no longer fulfil its obligations towards depositors and was technically bankrupt. The National Bank of Romania intervened by taking over insoluble depts and granting preferential loans, while the bank also sold some of its assets. In the end the bank could continue its operations, until it was nationalized under the Communist regime in 1948, exactly 100 years after its inception.
In 1954 the Marmorosch Blank Bank was absorbed by the Foreign Trade Bank under a large transformation of the banking sector of Romania. After the 1989 Revolution, the banking sector was privatized again the operations of the Foreign Trade Bank are now part of Banca Comercială Română (BCR).
History Of The Marmorosch Blank Bank Palace
The Marmorosch Blank Bank Palace was designed by the architect Petre Antonescu and its construction took place between 1915 and 1923. The architectural style of the building is Neo-Romanian, with a blend of Byzantine, Gothic, Moldavian, and Art Deco styles. The interior is decorated in a Neo-Romanian style by Cecilia Cuțescu-Storck. In 1993, the building was extended and renovated following the plans of the architect Tiberiu Boitan.
The Marmorosch Today
Today the Marmorosch is a 5-star luxury hotel with 217 rooms and suites, a fitness center, a spa with an indoor pool, a restaurant, a bar, and a lounge. The old bank safe in the cellar has been turned into a stylish cocktail bar, The Vault, where you can enjoy a drink between the old deposit boxes.
Want to stay in luxury at the Marmorosch? Check out the rooms and rates here.
