16 December 2004

One Century of the Greek Postal Savings Bank

The Greek Postal Savings Bank commemorated its centenary with the publication of a new luxurious commemorative album with the title "One Century of the Greek Postal Savings Bank" and two new stamps included in the "Anniversaries" line, which were issued by Hellenic Post.

A historical agency that cultivated the spirit of savings in lower income groups, in schools and in social groups that were not active participants in the financial events of the times, it touched on every corner of Greek territory. Today, it is a major organization which maintains its social role and traditional features, but is using electronic technology to modernise and offer innovative products that will meet the constantly changing requirements of the new millennium.

Alliance with ELTA-Hellenic Post

The progress of the GREEK POSTAL SAVINGS BANK was for many years directly connected to that of ELTA - Hellenic post, as the services of the POSTAL SAVINGS BANK were offered through the branch network of Post Offices.

During the nineteen fifties the GREEK POSTAL SAVINGS BANK began to develop its own independent network of branch offices, without however breaking off its alliance with ELTA, which continued to serve GPSB customers in areas where there was no Postal Savings Bank branch office.

The agreement signed on 19-11-2001 between the two Organisations aims to expand and upgrade their collaboration in order to improve the services they offer, particularly on issues of restructuring, operations and quality, in order to successfully deal with increasing competition in the sectors in which they are active, due to deregulation of the corresponding markets.

The Network of GREEK POSTAL SAVINGS BANK and ELTA branch offices will offer banking and financial products in general, as well as postal products of Hellenic Post, which are addressed to a wider range of customers and over a more general geographical area, strengthening the social nature and role of the GREEK POSTAL SAVINGS BANK.

The new agreement makes the system of services offered more flexible, more productive and more directly available to the entire population of the country. They can, de facto, be present where other financial organisations cannot be.

ATMs

The Greek Postal Savings Bank has proceeded to carry out a tender procedure to procure Automated Teller Machines (ATMs). Technical evaluation of the bidding companies is already complete as are their corresponding financial offers and ATMs will soon be installed at Greek Postal Savings Bank branches.

ELECTRON VISA

Following the successful issuing of Visa Gold and Visa Classic credit cards by its branches, the Greek Postal Savings Bank will soon offer its customers the Electron Visa debit card, which can be used for automated withdrawals from ATMs as well as from any shop with suitable point of sale equipment.

Checking Accounts – Loans to Private Individuals

The study to create Checking Accounts for Legal Entities and Current Accounts for Private Individuals is complete, and they are soon expected to be put into practice, primarily in Athens for the first phase.

Loans to Private Individuals are complete and the new service granting home loans to private individuals is expected to operate soon.

New guaranteed capital high yield deposit product

GPSB will shortly be in a position to offer its clients a new composite deposit product with high yield and guaranteed capital, which will offer the opportunity to invest capital without the risk of losing the capital and with a margin for high yields.