Greece's Eurobank Explores Indian Presence, Eyes Mumbai Office

08 Mar 2024 CW Team

With assets totalling 80.5 billion euros and a network of 540 branches across Greece, Cyprus, Bulgaria, Luxembourg, and the UK, Eurobank has built a robust corporate client-focused business in these regions. Now, it aims to cater to the needs of Indian business people seeking commercial footholds in Europe.

Trade relations between Europe and India are on the cusp of taking off. We aim for Eurobank to become a key facilitator and the banking partner of choice for Indian businesses considering establishing a local hub in Greece or Cyprus to gain a footing in the EU market, said Fokion Karavias, chief executive officer of Eurobank. He further stated, By creating a rep office in India, we will be able to best serve Indian businesses to make their first step into the largest single market area in the world.

The recent state visit of Greek Prime Minister Kyriakos Mitsotakis to India, accompanied by a business delegation including Karavias, underscored the growing ties between the two countries. During the visit, Eurobank partnered with the National Payments Corporation of India to introduce Unified Payments Interface (UPI)-based remittances from Greece to India.

Initially, Eurobank's Mumbai office will focus on marketing, client relations, and other non-transactional operations, refraining from offering banking products directly to Indian customers. The bank's management believes that India's significance for its business stems from two key factors.

Firstly, as production hubs diversify for Western consumption, more manufacturing activities will likely shift to India, fostering increased trade between India and Europe. Secondly, in a post-Brexit scenario, Indian businesses may seek alternative entry points into the EU market, with countries like Greece and Cyprus emerging as potential options.

Eurobank's major shareholder is Fairfax Financial, an insurance and investment giant founded by Indian-Canadian billionaire Prem Watsa. This connection further underscores the bank's interest in exploring opportunities in India's dynamic market landscape.

In a strategic move, Eurobank, headquartered in Athens, is exploring opportunities to establish a presence in India and is currently consulting with advisors and the Reserve Bank of India to set up a representative office in Mumbai, according to sources familiar with the bank's plans. With assets totalling 80.5 billion euros and a network of 540 branches across Greece, Cyprus, Bulgaria, Luxembourg, and the UK, Eurobank has built a robust corporate client-focused business in these regions. Now, it aims to cater to the needs of Indian business people seeking commercial footholds in Europe. Trade relations between Europe and India are on the cusp of taking off. We aim for Eurobank to become a key facilitator and the banking partner of choice for Indian businesses considering establishing a local hub in Greece or Cyprus to gain a footing in the EU market, said Fokion Karavias, chief executive officer of Eurobank. He further stated, By creating a rep office in India, we will be able to best serve Indian businesses to make their first step into the largest single market area in the world. The recent state visit of Greek Prime Minister Kyriakos Mitsotakis to India, accompanied by a business delegation including Karavias, underscored the growing ties between the two countries. During the visit, Eurobank partnered with the National Payments Corporation of India to introduce Unified Payments Interface (UPI)-based remittances from Greece to India. Initially, Eurobank's Mumbai office will focus on marketing, client relations, and other non-transactional operations, refraining from offering banking products directly to Indian customers. The bank's management believes that India's significance for its business stems from two key factors. Firstly, as production hubs diversify for Western consumption, more manufacturing activities will likely shift to India, fostering increased trade between India and Europe. Secondly, in a post-Brexit scenario, Indian businesses may seek alternative entry points into the EU market, with countries like Greece and Cyprus emerging as potential options. Eurobank's major shareholder is Fairfax Financial, an insurance and investment giant founded by Indian-Canadian billionaire Prem Watsa. This connection further underscores the bank's interest in exploring opportunities in India's dynamic market landscape.

Infrastructure Urban

10 Mar 2026

India Seals Rs 50.83 bn Defence Deal For ALH Mk-III And Shtil

India has finalised a defence procurement valued at Rs 50.83 billion (bn) aimed at strengthening aerial and maritime capabilities. The package covers Advanced Light Helicopter Mark III and Shtil shipborne missile systems. The move reflects a continued focus on modernisation of forces and onshore maintenance capacities. The procurement is expected to support operational readiness and to stimulate maintenance and supply chain ecosystems tasked with sustaining the platforms.\n\nThe Advanced Light Helicopter Mark III is expected to enhance rotary wing operations across multiple roles including sur..

Infrastructure Urban

10 Mar 2026

Madurai Plans Major EV Infrastructure Boost

Madurai municipal authorities have unveiled a plan to accelerate electric vehicle infrastructure across the city. The initiative aims to expand public charging networks, support private investment and create an enabling environment for wider adoption. Officials have set priorities that include accessibility, affordability and integration with urban mobility plans. Stakeholders will be consulted to align the plan with local needs and land use. The programme will prioritise deployment of charging points in commercial centres and at transport hubs. Emphasis will be placed on fast charging capacit..

Infrastructure Urban

10 Mar 2026

IIFCL To Raise One Point Six Billion Dollars For Infrastructure

India Infrastructure Finance Company Limited plans to raise one point six billion dollars in a resource mobilisation drive to support infrastructure development. The amount was described as about Rs 145 billion and the firm said it would mobilise funds from multilateral agencies and overseas investors to build a diversified, cost effective long term funding base. The managing director said the focus will be on securing competitive long tenor funds aligned with the loan book.\n\nUntil December, the company mobilised JPY 26 billion from SMBC as external commercial borrowing, equivalent to around..