Bank of Athens
Encyclopedia
The Bank of Athens was a bank in Athens
, Greece
. It was founded in 1893 and merged in 1999. It continued the name of an earlier but no longer operating Anglo-Greek bank that Michel Emmanuel Rodocanachi
had established in the UK.
Athens
Athens , is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, as its recorded history spans around 3,400 years. Classical Athens was a powerful city-state...
, Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
. It was founded in 1893 and merged in 1999. It continued the name of an earlier but no longer operating Anglo-Greek bank that Michel Emmanuel Rodocanachi
Michel Emmanuel Rodocanachi
Michel Emmanuel Rodocanachi was an influential Greek trader and banker of London.Rodocanachi's parents were wealthy merchants in their home at Chios, related to the influential Vlasto and Mavrogordato families...
had established in the UK.
History
- 1894: Ep. Empeirikos, Al. Lambrinoudis, A. Kallergis, M. Iordanopoulos, and N. Triantafyllidis founded the Bank of Athens in 1893 with Greek, French, and English capital, and it apparently commenced operating in 1894. A key figure in the early bank was Jean (John) Pesmatzoglou, an Alexandrian private banker, who merged his bank with Bank of Athens, became chairman in 1896, and formed an alliance with Banque de l'Union parisienne in 1904. Pesmatzoglou's bank became a branch in AlexandriaAlexandriaAlexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
, EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, where there was a large community of Greeks. - 1895: The Bank established branches in LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, ConstantinopleConstantinopleConstantinople was the capital of the Roman, Eastern Roman, Byzantine, Latin, and Ottoman Empires. Throughout most of the Middle Ages, Constantinople was Europe's largest and wealthiest city.-Names:...
, SmyrnaSmyrnaSmyrna was an ancient city located at a central and strategic point on the Aegean coast of Anatolia. Thanks to its advantageous port conditions, its ease of defence and its good inland connections, Smyrna rose to prominence. The ancient city is located at two sites within modern İzmir, Turkey...
, AlexandriaAlexandriaAlexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
, and KhartoumKhartoumKhartoum is the capital and largest city of Sudan and of Khartoum State. It is located at the confluence of the White Nile flowing north from Lake Victoria, and the Blue Nile flowing west from Ethiopia. The location where the two Niles meet is known as "al-Mogran"...
. - 1906: Bank of Athens acquired Industrial Credit Bank (est. 1873).
- 1910: The bank had branches in CreteCreteCrete is the largest and most populous of the Greek islands, the fifth largest island in the Mediterranean Sea, and one of the thirteen administrative regions of Greece. It forms a significant part of the economy and cultural heritage of Greece while retaining its own local cultural traits...
at ChaniaChaniaChaniá , , also transliterated Chania, Hania, and Xania, older form Chanea and Venetian Canea, Ottoman Turkish خانيه Hanya) is the second largest city of Crete and the capital of the Chania peripheral unit...
, CandiaCandia-Places:* The old Venetian name for Heraklion, Crete* Kingdom of Candia, colony of the Republic of Venice * Candia Canavese, Italy* Candia Lomellina, Italy...
, and RethymnoRethymnoRethymno is a city of approximately 40,000 people in Greece, the capital of Rethymno peripheral unit in the island of Crete. It was built in antiquity , even though was never a competitive Minoan centre...
, KhartoumKhartoumKhartoum is the capital and largest city of Sudan and of Khartoum State. It is located at the confluence of the White Nile flowing north from Lake Victoria, and the Blue Nile flowing west from Ethiopia. The location where the two Niles meet is known as "al-Mogran"...
in the SudanSudanSudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
, and Trebizond and Samsoun in the Ottoman EmpireOttoman EmpireThe Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
. - 1921: Bank of Athens opened a representative office in New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. - 1922: By this time, the Bank of Athens had branches throughout Greece, as well as in LimassolLimassolLimassol is the second-largest city in Cyprus, with a population of 228,000 . It is the largest city in geographical size, and the biggest municipality on the island. The city is located on Akrotiri Bay, on the island's southern coast and it is the capital of Limassol District.Limassol is the...
and NicosiaNicosiaNicosia from , known locally as Lefkosia , is the capital and largest city in Cyprus, as well as its main business center. Nicosia is the only divided capital in the world, with the southern and the northern portions divided by a Green Line...
in CyprusCyprusCyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
, AlexandriaAlexandriaAlexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
, CairoCairoCairo , is the capital of Egypt and the largest city in the Arab world and Africa, and the 16th largest metropolitan area in the world. Nicknamed "The City of a Thousand Minarets" for its preponderance of Islamic architecture, Cairo has long been a centre of the region's political and cultural life...
, and Port SaidPort SaidPort Said is a city that lies in north east Egypt extending about 30 km along the coast of the Mediterranean Sea, north of the Suez Canal, with an approximate population of 603,787...
in EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, GalataGalataGalata or Galatae is a neighbourhood in the Beyoğlu district on the European side of Istanbul, the largest city of Turkey. Galata is located at the northern shore of the Golden Horn, the inlet which separates it from the historic peninsula of old Constantinople. The Golden Horn is crossed by...
, Stamboul and PeraPeraPera may refer to:People* Marcus Junius Pera, Roman dictator* Alfredo Le Pera , Brazilian journalist* Marcello Pera , Italian philosopher and politician* Marília Pêra , Brazilian actress* Patrick Péra , French figure skater...
in ConstantinopleConstantinopleConstantinople was the capital of the Roman, Eastern Roman, Byzantine, Latin, and Ottoman Empires. Throughout most of the Middle Ages, Constantinople was Europe's largest and wealthiest city.-Names:...
, and LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and ManchesterManchesterManchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
in EnglandEnglandEngland is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
. - 1923: The Turkish government seized the Bank's branch in Constantinople as a branch of an enemy bank.
- 1926: Bank of Athens converted its NY agency to a subsidiary, Bank of Athens Trust Company.
- 1930: National Bank of GreeceNational Bank of GreeceThe National Bank of Greece is the oldest and largest commercial banking group in Greece. The group has a particularly strong presence in Southeastern Europe and the Eastern Mediterranean...
and Bank of Athens combined their activities in Egypt into a joint subsidiary, Banque Nationale de Grèce et d’Athénes. - 1930s: The Bank of Athens operated branches in KorçëKorçëKorçë is a city in southeastern Albania and the capital of the Korçë District. It has a population of around 105,000 people , making it the sixth largest city in Albania...
and DurrësDurrësDurrës is the second largest city of Albania located on the central Albanian coast, about west of the capital Tirana. It is one of the most ancient and economically important cities of Albania. Durres is situated at one of the narrower points of the Adriatic Sea, opposite the Italian ports of Bari...
in AlbaniaAlbaniaAlbania , officially known as the Republic of Albania , is a country in Southeastern Europe, in the Balkans region. It is bordered by Montenegro to the northwest, Kosovo to the northeast, the Republic of Macedonia to the east and Greece to the south and southeast. It has a coast on the Adriatic Sea...
. - 1940s: During the Axis Occupation of Greece, Dresdner BankDresdner BankDresdner Bank AG was one of Germany's largest banking corporations and was based in Frankfurt. It was acquired by competitor Commerzbank in December 2009.- 19th century :...
assumed oversight of Bank of Athens. - 1947: The Bank of Athens founded the South African Bank of Athens Limited to serve Hellenes residing in South Africa.
- 1953: Bank of Athens merged with National Bank of GreeceNational Bank of GreeceThe National Bank of Greece is the oldest and largest commercial banking group in Greece. The group has a particularly strong presence in Southeastern Europe and the Eastern Mediterranean...
to form the National Bank of Greece and Athens. Later the name reverted to the National Bank of Greece. The two banks merged their NY subsidiaries to form Atlantic Bank of New YorkAtlantic Bank of New YorkSince 2006, Atlantic Bank of New York has been a division of New York Commercial Bank, itself a subsidiary of New York Community Bank.-History:*1926 New York State chartered Bank of Athens Trust Company, a subsidiary of Bank of Athens....
. - 1960: Egypt nationalized the foreign banks in the country. The National Bank of EgyptNational Bank of Egypt- in arabic National Bank of Egypt is the oldest and largest bank in Egypt, and has 405 branches within the country, including 131 in Cairo. It has assets of L.E. 185.3 bn., total deposits of L.E. 155.2 bn., and total loans and advances of L.E. 83 bn...
took over Banque Nationale de Grèce et d’Athénes, together with a number of other banks. - 1992: Hanwha Bank (with RabobankRabobankRabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
) bought 67% of Bank of Athens (formerly the Bank of Professional Credit) from NBG (which owned 75%), in a privatization. - 1998: EFG Eurobank Ergasias, a member of the Latsis Group, bought 58% of the Bank of Athens' common stock from Hanwha Bank and 51% of its preference shares from the National Bank of Greece.
- 1999: EFG Eurobank Ergasias absorbed Bank of Athens and Bank of CreteBank of CreteFollowing the departure of the Ottoman forces in December 1898, the Cretan government under Eleftherios Venizelos established the Bank of Crete with the assistance of the National Bank of Greece. The bank received the exclusive privilege, for thirty years, of issuing banknotes in the island of...
.