The Greek-based financial group facilitates the decision-making of Indian businessmen and investors interested in establishing presence in the EU
The Eurobank Group, consisting of Eurobank S.A. and its subsidiaries, is a dynamic and robust financial organization that operates in five countries, namely Greece, Cyprus, Bulgaria, Luxembourg and the United Kingdom. Eurobank S.A., the Group’s parent company, is a Greek systemic bank operating in accordance with Greek and EU law and supervised by the Bank of Greece and the Single Supervisory Mechanism of the ECB.
The Eurobank Group develops and promotes financial products and services through a total network of more than 500 retail and corporate branches, focusing on its individual and business customers and their needs. The Group operates with a diversified business model and ensures transparency and reliability by applying modern corporate governance practices, with a view to building long-term relationships with its customers, while providing them with access to a comprehensive range of financial products and services as well as a client centric digital offering.
As part of its strategy to expand into new markets offering significant opportunities for business growth, the Eurobank Group is in the process of establishing a Representative Office in Mumbai, India, which is expected to begin operations in 2025, upon receiving all necessary regulatory approvals by the Reserve Bank of India and other relevant authorities of India.
At the same time, the Eurobank Group has been undertaking several initiatives aiming to enhance the economic and business cooperation between India and the countries where the Group operates as well as to facilitate the decision making of Indian businessmen and investors that may be interested in establishing a presence in the European Union.
Among such India-related initiatives of the Eurobank Group are the following:
- In February 2024, Eurobank S.A. and NPCI International Payments Limited signed a Memorandum of Understanding (MoU) towards enhancing cross-border payments using Unified Payments Interface (UPI) rails. UPI is an instant payments system and protocol developed in India by NPCI in 2016. This agreement aims at revolutionalising the process of international money transfers, with a specific focus on streamlining remittances from Greece to India.
- The Eurobank Group was the main sponsor of the India Mediterranean Business Conclave 2024 organized by the Confederation of Indian Industries (CII) in New Delhi in September 2024, under the auspices of the Ministry of External Affairs of India. High-level officials attended the conclave, including the Indian Minister of External Affairs and the Indian Minister of Commerce and Industry.
- Eurobank Cyprus participated together with a delegation from the Government of Cyprus, headed by the Deputy Minister of Research, Innovation and Digital Policy and including the High Commissioner of Cyprus in India, the Director General of Cyprus Research and Innovation Foundation, the Chairman of the Cyprus-India Business Association and the CEO of Invest Cyprus. A round table discussion on Cyprus was organised during the conclave, with the participation of the Cyprus delegation, which attracted the interest of a large number of Indian businessmen and investors.
- The Eurobank Group also sponsored the Horasis India Meeting that took place in Athens, Greece in September 2024, which was attended by many Indian officials and businessmen. A round table discussion on Cyprus was also organised during the Horasis India event.
- Eurobank Group and the Indian Chamber of Commerce (ICC) signed an MoU to establish the India Greece Cyprus (IGC) Business and Investment Council to foster cooperation in the areas of trade, investment, business development, and exchange of relevant information among the three countries.
The India – Middle East – Europe Economic Corridor (IMEC) resolution adopted at the G20 meeting in India and endorsed at the recent G7 meeting in Italy is expected to offer significant opportunities for the economies of the region. In this context, Greece and Cyprus, being at the crossroads of this region, can serve as strategic entry points to the EU for Indian businesses and investors. Cyprus has unique advantages as a dynamic hub for technology and research as well as other niche industries, while Greece’s diversified economy offers a wide range of investment opportunities for Indian investors across various sectors, including maritime, energy and agriculture.