The launch took place on Thursday in the presence of President Nikos Christodoulides, who highlighted the strategic importance of the move and the growing economic ties between Cyprus, Greece and India.
At the event, Eurobank also announced a partnership with NPCI International to support cross-border digital payments using India’s Unified Payments Interface (UPI).
“This is exactly the kind of practical, forward-looking cooperation we want to encourage – cooperation that strengthens business, tourism and financial connectivity, while highlighting the crucial role of innovation and fintech in our expanding strategic partnership,” President Christodoulides said.
He added that the choice of Mumbai reflects confidence in the growing potential of cooperation between India, Cyprus and Greece, while positioning Cyprus as a gateway linking Europe, the Middle East and North Africa.
“There is no better time to explore these opportunities,” he said, pointing to Cyprus’s current EU Council Presidency and the strengthening EU–India relationship.
Eurobank chief executive Fokion Karavias described the opening as a milestone, noting that the bank is the first from the region to establish a presence in India.
“This milestone builds on the landmark trade agreement between the EU and India concluded earlier this year,” he said, adding that the bank supports the vision of the India–Middle East–Europe Corridor (IMEC), with Greece and Cyprus positioned on its European side.
He said the new office reinforces the role of Greece and Cyprus as strategic entry points for Indian companies seeking to expand into the European Union.
Karavias also announced that Eurobank has launched cross-border remittance services from Greece to India via UPI, making it the first bank in Europe to offer such transfers.
In addition, the bank, in cooperation with the Indian Chamber of Commerce, has established the India–Greece–Cyprus Business and Investment Council to deepen economic, trade and investment ties between the three countries.
Several companies and organisations from Greece, India and Cyprus have already joined the initiative, while leading Indian groups such as Thomas Cook India and LTI Mindtree have established operations in Cyprus, further strengthening bilateral links.
Source: CNA
