Greece’s Eurobank has set up a representative office in India in its maiden foray outside Europe to tap trade and investment opportunities.
Eurobank has assets of around 110 billion Euros and has operations in Cyprus, Bulgaria and Luxembourg.
The office will be inaugurated by Cyprus president Nikos Christodoulides in Mumbai on Thursday. Its opening is significant in the context of India - EU free trade agreement (FTA) with Greece and Cyprus positioning themselves as investment gateways for Indian corporates.
No Immediate Plans
Eurobank, which has Fairfax has its largest shareholder, has begun offering cross border remittances for Indians in Greece via United Payment Interface. For now office will offer advisory service and financing options for trade and investments from its European branches.
The bank is looking at high net worth individuals and family offices to set up presence in Cyprus, said Country Head and Chief Representative Officer Tridib Saha. The bank has no immediate plans to offer loan and deposit services in India.
Long Term
“We will take one step at a time,” Eurobank’s CEO Fokion Karavias said in response to queries on starting core banking operations in India.
Both Greece and Cyprus are seeking investments in ports and logistics that will aid the India-Middle East-Europe Economic Corridor. While the Gaza crisis and ongoing West Asia conflict has slowed down IMEC initiative, Karavias said these challenges will not last forever.
“We are here for long term,” he said.
Eurobank also has a significant technology play. While last November it collaborated with Microsoft and EY for AI-powered transformation, Eurobank also works with firms such as LTM and Accenture for software development and delivery. Sanjay Tugnait, president and CEO of Fairfax Digital Services said over 200 employees are working across multiple service partners in Pune, Bengaluru and Chennai to develop digital and software solutions for the bank.
Published on May 20, 2026