2 Pounds - Cephalonia

The Ionian Bank was chartered in London in 1839 specifically to serve the Ionian Islands, then a British protectorate under the Lord High Commissioner. This 2 Pounds note from the inaugural 1840 issue is among the earliest paper currency formally circulated in Greek-speaking territory under any organized banking structure — the islands had no prior note-issuing institution of their own.

Cephalonia was one of several island branches designated as places of payment, meaning notes were printed with location-specific text rather than being generic to the whole protectorate. That branch designation makes individual island examples distinct collecting items within the series.

The Ionian Bank ultimately continued operating well into the twentieth century, long after the islands' union with Greece in 1864.