National Bank of Greece - Definition and Overview

The National Bank of Greece (NBG) is the largest and oldest commercial bank in Greece.

History

• It was founded in 1841 in Athens, making it the oldest bank in the country. It was government-owned from its inception and had the right of note issue, which it lost in 1928 when the newly-established Bank of Greece took over as the country's central bank.
• In 1939 it established a subsidiary in New York, Hellenic Bank Trust Company. In 1953 NBG merged with Bank of Athens to form National Bank of Greece and Athens, later shortened to National Bank of Greece.
• In 1998 NBG merged with the National Mortgage Bank of Greece (Ethniki Ktimatiki Trapeza Ellados), itself the result of the merger of the National Mortgage Bank and the National Housing Bank of Greece.
• In 2002 NBG merged with ETABA – National Investment Bank for Industrial Development.

See also

• Banking
• Greece

External link

• Official Web Site (http://www.nbg.gr)