This section is a contribution by the Historical Archive of the National Bank of Greece.

Stavros, Georgios (1788-1869)

The First National Banker

In his 81 years of life, Gerogios Stavros (2.1.1788 – 31.5.1869) offered his services to the nation, wishing to establish the Modern Greek State’s financial edifice. Upon his death, he was pronounced Benefactor of the Nation. Born in the city of Ioannina in 1788, he attended the Balanos School and the Kaplanios School. He continued his studies in Vienna. There, he took charge of his father Ioannis’ trading company and met Ioannis Kapodistiras in 1808.  Stavros contributed to the Greek Revolution and supported the Nation’s first Governor as member of both the Commitee of Financial Affairs and the Panhellenion Department of Finance. 

In 1841, Stavros’ collaboration with the French-Swiss philhellene Jean-Gabriel Eynard bore the foundation of the most long-lived financial institution of the country to date, the National Bank of Greece. Stavros was elected life-long Director of the Bank and died of cardiac arrest in the very building of the central facility, where he lived, in 1869.

He had written his will eight months prior, according to which he donated a plot of land and the initial capital for the building and operation of an Orphanage in Ioannina. As executionors of his will, he elected the then Vice-Governors of the National Bank of Greece, M. Ranieri, E. Kechagia and G. Vasileiou. 

Portrait of Georgios Stavrou, Mitsis Georgios, 2020, “Joseph and Esther Ganis” Foundation

1. Announcement of the election of Georgios Stavros as the plenipotentiary of Epirote electors in the Third National Assembly at Troezen (02.04.1827), where Ioannis Kapodistrias was unanimously elected as the first Governor of Greece. Nafplion, 11 November 1826. Historical Archive of the National Bank of Greece

2. Document by the Committee on Finance, signed by Georgios Stavros and its two other members, to the Secretariat of Military Affairs, concerning the payment of 570 phoenix coins to Theodoros Kolokotronis by the Governor of Arcadia. Nafplion, 11 November 1830. Historical Archive of the National Bank of Greece

3. Circular issued by the three-member Committee on Finance (one member was Georgios Stavros) concerning the complete prohibition on the circulation of Turkish coins minted in 1826, as well as on foreign copper coins, which “threatens to cause considerable harm to the people”. Nafplion, 12 May 1831. Historical Archive of the National Bank of Greece

4. Letter concerning share distribution of the National Financial Bank, signed by G. Stavros who was a member of its Committee. Aigina, 27 October 1828. The Financial Bank operated until 1834; in 1841, during the reign of King Otto, the National Bank of Greece was founded. Historical Archive of the National Bank of Greece

5. Resolution by the Governor I. Kapodistrias of 17 June 1831 for the immediate printing and gradual circulation of banknotes of total value up to three million phoenix coins for the purpose of covering State expenses. The amount was estimated by the Committee on Finance, whose members were G.Stavros, I. Kontoumas and A. Papadopolos. Historical Archive of the National Bank of Greece

6. Edict by King Otto concerning the appointment of G. Stavros, in the capacity of auditor in the Court of Audit, as a member of the Committee which undertook “the preparatory work of the National Greek Bank” until “the election of the directorate”. Athens, 8 (20) April 1841, publication in the Official Gazette, number 9, 27 April. Digital excerpt from the volume Reprint of Laws, Edicts etc. published in the Official Gazette, from the year 1833-1842, volume I, Athens, National Press, 1866. Historical Archive of the National Bank of Greece

Drawer

7. Fourth issue banknote of the National Bank of 1860. The representation of G. Stavros as the Governor of the National Bank was first introduced as an ornamental element of banknotes that year. Historical Archive of the National Bank of Greece

8. Banknote created by the National Bank of Greece and circulated in 1928 with a stamp of the Bank of Greece, which started operating at that time. Until then the representation of G. Stavros’ was the main ornamental element of banknotes. Historical Archive of the National Bank of Greece

9. Transaction forms of the National Bank bearing an imprint of G. Stavrou’s face (bankbook, cheque, bond). Historical Archive of the National Bank of Greece

10. Commemorative silver medal with the head of G. Stavros and a representation taken from an ancient Athenian coin on both sides, created by the sculptor Michalis Tombros, produced in Florence and circulated for the 125th anniversary of the establishment of the National Bank in 1966. Historical Archive of the National Bank of Greece

11. The face of G. Stavrou, designed by the engraver A. Tassos, decorated the 2.50 drachma commemorative stamp of the 125th anniversary of the National Bank of Greece. It was printed, via the method of etching, by the graphic arts company “Aspioti-Elka” and was put into circulation by the Hellenic Postal Service in 1966. Historical Archive of the National Bank of Greece