Eurobank's intention to open an office in Mumbai in March was revealed today by Panayiotis Chrysostomou, Manager, Banking Services & Representative Offices of Eurobank, during the Cyprus–India Business and Investment Summit in Mumbai, organized by IMH, in collaboration with Invest Cyprus.
The bank has found the person who will take over as head of the India office, with an announcement to be made by Eurobank at a later stage.
This move strengthens the Group's presence in markets with dynamic growth and underlines Cyprus' role as a stable and reliable European financial hub for international clients and businesses.
The decision is part of a broader international expansion strategy for Eurobank, which was announced by Eurobank CEO Michael Louis and other bank executives. According to their previous statements - in addition to India - the Group plans to establish representative offices in markets such as Abu Dhabi, Israel and Saudi Arabia , in order to facilitate access to international investment and consolidate Cyprus' position as a gateway to the European market for emerging economies.
These moves are linked to the bank's strategy to support sectors such as technology, communications, energy, household finance and the promotion of international investments, while at the same time seeking to strengthen Cyprus as a business hub for the Southeastern Mediterranean.
Cyprus-India relations are in constant dynamic development. Cyprus is among the top ten investors in India, with cumulative investments of over 14 billion euros over the last two decades, covering sectors such as services, technology, shipping, real estate and pharmaceuticals. The main areas of cooperation include finance, technology, tourism and the knowledge economy, while bilateral cooperation extends to third country projects and wider cooperation in the Mediterranean. This is a structural and not a cyclical relationship, in which Greece and Cyprus are now claiming an active role.
In this context, moreover, in May the President of the Republic, Nikos Christodoulides, will visit India, where he will meet with Prime Minister Narendra Modi, further strengthening bilateral economic relations and cooperation in the financial and investment sectors.
(Source: InBusinessNews)
