10 New Drachmai Ionian Bank Limited

The Ionian Bank was the only British-chartered bank with a monopoly on note issue in the Ionian Islands — a privilege that survived even after the islands' cession to Greece in 1864, making this a private British colonial bank continuing to circulate currency on Greek sovereign territory well into the 1880s and beyond. That political anomaly generated periodic friction with Greek authorities throughout the note's issuing life.

Two printers produced notes of this type across the series run, Perkins Bacon handling earlier printings and Waterlow later ones. Distinguishing between printer runs requires examining serial number ranges and minor typographic differences in the border work.