Ionian Bank up its banking licence. The Greek operation, renamed "Ionian Popular Bank", was absorbed into Alpha Bank in 2000. A "decree of the Eminent Senate of the Commonwealth of Ionian Islands" established the Ionian State Bank in 1839, to finance trade between the Ionian Islands (a British protectorate), and Great Britain. This made the bank the oldest in Greece. The bank received a 20-year grant of the exclusive privilege of issuing and circulating banknotes for the Ionian Islands. The bank soon changed its name to Ionian Bank (IB), and initially only operated in the Ionian Islands, opening branches in Corfu, Aante
Sazan Island of Vlorë, in the eastern Strait of Otranto separating Italy from Albania. It is also located at the informal junction line of the Adriatic and Ionian Sea inside the Mediterranean Sea, which is just to the south according to international scientific bodies. The island is composed of limestone rocks, which was formed during the Cretaceous period, while the eastern part is partially composed of terrigenic and cleistogenic deposits. It has four peaks, the highest standing at above sea level followed by two peaks in the center and , and the lowest with in the south of the island. Sazan has