Until 1904, the year in which the first Greek banks began to establish their branches, only Jewish banking offices were active in Thessaloniki, which in the interwar period evolved into public limited banking companies. The “Union Bank” ("Banque Union"), founded in 1926, is one of the most important banking companies. Its main shareholders were brothers Albert and Joseph Nehama. The bank was housed in a building, owned by Joseph Nehama, constructed in 1925 at 6, Ermou Street and consisted of a ground floor and two floors. The Bank operated profitably until 1943, when it was confiscated by the Occupation authorities and its assets were annihilated. It reopened after the war under the direction of Joseph Nehama, until 1958 when it was liquidated.