Eurobank’s initiative builds on the landmark EU-India free trade agreement reached earlier this year which is expected to boost business and trade between the two regions
Eurobank, which has Fairfax has its largest shareholder, has begun offering cross border remittances for Indians in Greece via United Payment Interface (UPI).
Mumbai: Greece’s Eurobank will be setting up a representative office in India to tap trade and business opportunities between India and Europe.
Eurobank’s initiative builds on the landmark EU-India free trade agreement reached earlier this year which is expected to boost business and trade between the two regions. It aims to strengthen trade and investment between the two regions while positioning Greece and
Cyprus as strategic entry points for Indian companies seeking to expand their products and services across the European Union.
Eurobank, which has Fairfax has its largest shareholder, has begun offering cross border remittances for Indians in Greece via United Payment Interface (UPI). For now the office will offer advisory service and financing options for trade and investments from its European branches. The bank is also looking at high net worth individuals and family offices to set up presence in Cyprus. However it has no immediate plans to offer loan and deposit services in India.
The official inauguration ceremony for the Eurobank India office will be held on Thursday at the Taj Mahal Palace Hotel in Mumbai with the President of the Republic of Cyprus, Nikos Christodoulides in attendance.
Eurobank has assets of around 110 billion Euros and has operations in Cyprus, Bulgaria and Luxembourg.
( Source : Deccan Chronicle )
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