10 Shillings - Zakynthos / Zante

The Ionian Bank was a British-chartered institution incorporated in London in 1839, established specifically to serve the Ionian Islands while they remained a British Protectorate. It held a note-issuing monopoly throughout the islands and operated under Crown oversight — an unusual arrangement that made it simultaneously a commercial bank and an instrument of colonial monetary administration. The 1840 date places this among the earliest issues from the bank's first year of active operation.

Zakynthos branch notes were issued and payable locally, distinct from the Corfu head office issues. Branch-specific Ionian Bank notes are considerably scarcer than the main series; the island's smaller commercial economy meant lower print runs and harder circulation.