At the 115 Years of Greek Postal Savings Bank, the Contribution to the Greek economy and society section documents the pivotal role of the Greek Postal Savings Bank in the economic life of Greece and its contribution to Greek society.
Supporting vulnerable social groups
The Greek Postal Savings Bank offered support to vulnerable social groups, such as students, young workers, farmers, women and the elderly.
Through the state pawnbroker service, it offered financial assistance to vulnerable groups that were at the mercy of loan sharks.
Supporting the Greek economy
The Greek Postal Savings Bank used the extensive network of the Greek Post Office to disseminate the idea of saving and investing money. It addressed small depositors living even in the most remote areas of Greece.
It also channelled a large part of its saved capital in the form of soft loans. The recipients of such funding were:
- Public services and organisations.
- Municipalities and local councils.
- Private sector organisations providing services to the community.
Loans were granted to facilitate public works that improved the infrastructure of Greece in the 20th century:
- Road construction, ports, transports.
- Electricity and telecommunications.
- Water supply and sewage.
- Schools, courthouses and other public buildings.
- Homeless shelters.