Greece's Eurobank to set up office in India. Here's why... 

Greece's Eurobank is set to open an office in India on Thursday, May 21, as it looks to tap trade and business opportunities between India and Europe. 

India and EU completed a much-awaited trade deal earlier this year, which is expected to boost business and trade between the two regions. 

Eurobank predominantly operates in the markets of Greece, Cyprus, Bulgaria and the UK. The representative office marks Eurobank’s first institutional presence in India and will act as a center for building business relationships, attracting investments and sharing knowledge, it said. It is hopeful of strengthening its involvement in the India–Middle East–Europe Economic Corridor (IMEC).

"What we are trying to achieve through this facility is to weigh trade and investment flows between the two regions. We would like to help Indian companies that would like to expand their business across the EU. At the same time, we would like to help Greek and Cypriot companies that have potential interest to expand into the Indian market," Eurobank's CEO Fokion Karavias said on Wednesday.

While the lender sees business opportunities between India and the EU growing over time, it doesn't want to open a full-fledged branch here in India just yet, as it first looks to assess the potential before taking the next step. 

"It will be one step at a time. We are opening an office, and we would like to see the interest around that, and based on this, we may assess our next steps," said Karavias.

Eurobank will be the first bank in Europe to activate its cross-border remittance service from Greece to India via UPI (unified payments interface). 

The service is already available in Greece and is set to be launched in Cyprus at a later stage. It covers the full transaction lifecycle (initiation, clearing, reconciliation and dispute management), significantly enhancing connectivity between the two markets.

Eurobank may be opening it's first representative office in India now, it already works with various IT companies here. For instance, in 2025, it inaugurated its global development center in Pune with LTI Mindtree. It also works with other IT companies like Accenture and Infosys. 

"With the central offshore development centre, we are developing a number of critical projects on our digital transformation within the group," said Karavias. 

Discussions are underway with leading Indian companies across key sectors including education, dairy, hospitality and the film industry, to foster long-term business presence and investment activity in Cyprus, Eurobank said.