Piraeus form the greater Piraeus area, with a total population of 448,997. Piraeus has a long recorded history, dating to ancient Greece. The city was largely developed in the early 5th century BC, when it was selected to serve as the port city of classical Athens and was transformed into a prototype harbour, concentrating all the import and transit trade of Athens. During the Golden Age of Athens the Long Walls were constructed to fortify Athens and its port (Piraeus). Consequently, it became the chief harbour of ancient Greece, but declined gradually after the 4th century AD, growing once more in
Piraeus Bank c.30k). As of March 2018, the Hellenic Financial Stability Fund holds 26% of outstanding common shares, while the remaining 74% is held by the private sector (legal entities and individuals). Piraeus Bank is a universal bank providing various banking services. Historically a bank supportive of SMEs it now also possesses particular know-how in the areas of agricultural banking, consumer and mortgage credit, green banking, capital markets, investment banking, leasing and electronic banking. Piraeus Bank and its subsidiaries form the Piraeus Bank Group. A group of shipowners in Piraeus founded "Banque du Pirée" (Piraeus Bank; BP) in 1916 to finance trade.