Greece's Postal Banking Tradition Revived Through Alpha Bank and Hellenic Post Partnership
This partnership effectively breathes new life into the legacy of the Greek Postal Savings Bank, which operated for over a century—from 1900 until its closure in 2013—and held a special place in the country’s financial and social fabric.
Under the agreement, Alpha Bank will provide an exclusive suite of banking products and value-added financial services through ELTA’s 1,100 service points across Greece. This collaboration gives the Hellenic Post an opportunity to evolve beyond its traditional role as a mail carrier and enter the financial services sector, leveraging its vast physical presence across both urban centers and remote areas of the country.
The initiative is led by Alpha Bank CEO Vassilis Psaltis and ELTA CEO Grigoris Sklikas, who see the venture not only as a commercially sound move but also as one that carries cultural and historical resonance.
For Alpha Bank, the partnership allows it to significantly expand its national footprint—bringing its total number of service points to 1,400—without the overhead of launching new branches. This extended reach will improve access to financial services for populations that have traditionally been underserved, particularly in rural or isolated communities where bank branches are scarce.
Meanwhile, for ELTA, the alliance opens up a new revenue stream and transforms its business model. By integrating banking services into its post offices, the organization positions itself as a modern, multi-service provider and strengthens its relevance in an increasingly digital and competitive environment. The move also enhances ELTA’s brand credibility and broadens its appeal to households and small-to-medium enterprises.
This partnership not only reflects a pragmatic response to evolving consumer needs and economic conditions, but also taps into a deeper national memory. For many Greeks, the Postal Savings Bank represented security, trust, and accessibility—qualities this new collaboration seeks to reinstate for the modern era.
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