On July 29, 1839, a Depository and loans Fund was established by law, with the purpose of its establishment been the exclusive custody and management of all types of deposits.
The institution of deposit was created by the needs of the transaction and aims to secure the rights over the deposit. Before 1919, cases were foreseen in which the deposit of funds or securities to the Public Treasury was mandatory or was recognized as a way of repaying a debt. In this way, the rights and interests of both the depositor and the person in whose favor the deposit was made were protected.
Over the course of an entire century, the Fund has undeniably made a significant contribution to Greece’s economic development. Its mission to serve the public and social interest, its European orientation, its strong financial position, as well as its reformed institutional framework, which provides for the establishment of a separate business line of ommercial banking activities, augur well for its future.
