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
Ionian Bank French banks were nationalized by Egypt at the same time. The next year IB sold its Greek assets to the Commercial Bank of Greece, which maintained IB as a separate entity, and its assets in Cyprus to the Chartered Bank. The Greek IB became the Ionian and Popular Bank of Greece by merging with its subsidiary, Popular Bank. Eventually, Alpha Bank purchased the Ionian and Popular Bank of Greece in 1999, and absorbed it in 2000. Commercial Bank of Greece bought IB's London branch. Ionian Bank The Ionian Bank (IB) was a British overseas bank that investors established in 1839