The History of the Greek Postal Savings Bank

• The branch network remained distinct, under the brand name New TT Branch Network. The Eurobank Group kept the history of the Greek Postal Savings Bank, and the concept of saving it traditionally represented, alive.

• The New TT Hellenic Postbank SA was founded as the successor to the Greek Postal Savings Bank SA.
• It merged with Eurobank Ergasias SA.

• T Bank SA merged by absorption with the Greek Postal Savings Bank.

• The Greek Postal Savings Bank achieved the highest rating among Greek banks in the European Central Bank stress tests.
• It acquired a 32.9% stake in the share capital of Aspis Bank SA, which changed its name to T Bank SA in the same year.

• The Greek Postal Savings Bank changed its corporate name to TT Hellenic Postbank. It acquired a new logo and entered a new era of restructuring and growth.
• The Greek Postal Savings Bank financed the roadworks for the completion of Egnatia Odos.

• The Greek Postal Savings Bank received an operating licence for a credit institution.
• It successfully became a listed company on the Athens Exchange.

• The Greek Postal Savings Bank expanded its operations into retail banking.

• The Greek Postal Savings Bank became an SA corporation (Law 3082/2002).

• The postal savings banks of Greece, Albania, Bulgaria, Romania and Yugoslavia reached an inter-Balkan agreement for unregulated money transfers for their customers.

• At the initiative of the Greek Postal Savings Bank Management, the General Meeting of the European Savings Banks Group (ESBG) Board and the General Assembly of the World Savings & Retail Banking Institute (WSBI) took place in Athens for the first time. The Greek Postal Savings Bank hosted some 300 representatives from 65 countries around the world.

• The Greek Postal Savings Bank stood by the earthquake-stricken people of the Greek town of Kalamata. It offered financial aid and facilitations.

• The Greek Postal Savings Bank introduced the concept of school libraries. It will go on to equip a large number of schools across Greece for over 2 decades.

• The Greek Postal Savings Bank deposits exceeded 21 billion drachmas. Its participation rate in savings was 31%.
• The Greek Postal Savings Bank headquarters were relocated to the corner of Pesmazoglou & Aristeidou Streets in Athens.

• The golden era of saving began in Greece.

• The Greek Postal Savings Bank participated in financing public works across Greece for almost 4 decades. It financially supported infrastructure works, such as roadworks, and construction of hospitals, schools and courthouses. It financed investment programmes for various organizations such as: Public Power Corporation (PPC), National Radio Television Foundation (EIRT), Hellenic Post (ELTA), Olympic Airways, Hellenic Telecommunications Organisation (OTE), Hellenic Railways Organisation (OSE), School Buildings Organisation (OSK), Piraeus Port Authority (PPA), Urban Transport Organisation (OAS), Olympic Stadium (OAKA).

• The Greek Postal Savings Bank was the only Greek credit institution to compensate its customers for their losses due to the hyperinflation during the German Occupation of Greece and the monetary reform introduced with Law 18/1944.

• The Greek Postal Savings Bank stood by the Greek state. It offered financial assistance in the war. It sent clothing and basic necessities to the soldiers fighting in the front lines.

• The Greek Postal Savings Bank became a member of the World Savings & Retail Banking Institute (WSBI). In partnership with the Greek Ministry of Education it joined in the celebrations for the World Savings Day on 31 October, for the first time in Greece.
• It introduced the concept of written essays on saving by primary and secondary school children.
• It gave away 25,000 money boxes.

• The Greek Postal Savings Bank introduced the concept of money boxes.
• It started operating once again as a Pawnbroker Service.

• It started printing and distributing wall calendars. The tradition continues to date.

• The Greek Postal Savings Bank acquired the largest market share in savings accounts compared to the rest of the Greek banks.

The Greek Postal Savings Bank financed all the major public works of the interwar period. It financially supported state, public and local bodies, as well as vulnerable social groups. Some examples include:

• Construction of the dam and reservoir in Marathon Reservoir, which solved the water scarcity problem.
• Road surfacing works through the National Road Construction Fund.
• Port committees.
• Social insurance funds, local government organisations and public legal entities.
• Earthquake sufferers and other vulnerable population groups.

• Following the new amendment law for the Greek Postal Savings Bank, it commenced operations in Athens. It was housed in Mela Mansion, on Kotzia Square.

• The Greek Postal Savings Bank officially commenced operations, with 20 postal offices across the Cretan State.
• The first passbook was issued in the name of the High Commissioner of the Cretan State, Prince George.

• The Greek Postal Savings Bank was established in the autonomous Cretan State. Law 265 for the founding of the Greek Postal Savings Bank was passed on 16 December. It was signed by Prince George and 4 ministers of the Cretan State.