Bank of Athens

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[edit] History

• 1893: Jean Pesmazoglu founded the Bank of Athens.
• 1895: Bank of Athens established a branch in Alexandria, Egypt, where there was a large community of Greeks.
• 1906: Bank of Athens acquired Industrial Credit Bank (est. 1873)
• 1921: Bank of Athens opened an agency in New York.
• 1926: Bank of Athens converted its NY agency to a subsidiary, Bank of Athens Trust Company.
• 1930: National Bank of Greece and Bank of Athens combined their activities in Egypt into a joint subsidiary, Banque Nationale de Grèce et d’Athénes.
• WWII: During the Nazi occuption of Greece, Dresdner Bank assumed oversight of Bank of Athens.
• 1953: Bank of Athens merged with National Bank of Greece 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 York.
• 1960: Egypt nationalized the foreign banks in the country. The National Bank of Egypt took over Banque Nationale de Grèce et d’Athénes, together with a number of other banks.
• 1992: Hanwha Bank (with Rabobank) 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.