It was founded in 1882 in Volos by Greek financier Andreas Syggros, and acquired in 1899 by the National Bank of Greece.
It soon created branches in Almyros, Arta, Kalabaka, Larissa, Trikala as well as Athens.
[2]: 42 As Thessaly was temporarily occupied by the Ottoman Army during the Greco-Turkish War of 1897, its financial position was negatively impacted by the damage.
Following Syggros's death in February 1899, it was eventually acquired in December of that year and absorbed by the NBG.
[2]: 35 Its building in the center of Volos was used by the NBG until being acquired by the municipality in 1969, and has been subsequently repurposed as a school of music.