Newsroom
Eurobank officially opened its representative office in Mumbai on Thursday, marking a major step in its expansion into India, with Cyprus playing a key role in the new bridge between Europe and one of the world’s fastest-growing economies.
The launch took place in the presence of President Nikos Christodoulides, who is on an official visit to India, and was also used to announce a new partnership with India’s NPCI International, the organization behind the widely used Unified Payments Interface (UPI) system.
The partnership will allow faster, easier cross-border digital payments between India and Europe, something that could make life simpler for students, workers, tourists, and businesses moving money between the two regions.
Speaking at the event, President Christodoulides described the initiative as exactly the kind of practical cooperation Cyprus wants to see: projects that don’t stay on paper but directly support trade, tourism, and everyday financial transactions.
He said the move shows growing trust in Cyprus, Greece and India working more closely together and highlighted Cyprus’ role as a natural “gateway” linking Europe with the Middle East, Africa and Asia.
“This is a moment of opportunity,” the President said, pointing out that Cyprus currently holds the presidency of the Council of the European Union, while EU–India relations are also gaining strong momentum.
He added that cooperation between Cyprus and India is moving faster than ever, with deeper political and economic ties taking shape. He also noted he will meet Indian Prime Minister Narendra Modi in New Delhi as part of the visit.
Eurobank CEO Fokion Karavias said the Mumbai office makes Eurobank the first bank from Southeastern Europe, including Greece and Cyprus, to establish a physical presence in India.
He described the development as a milestone supported by the growing EU–India trade relationship, as well as wider plans for the India–Middle East–Europe economic corridor, known as IMEC.
Karavias said the goal is for Greece and Cyprus to act as entry points for Indian companies looking to expand into the European Union.
He also announced that Eurobank has already launched cross-border money transfers from Europe to India using the UPI system, making it the first European bank to offer such a service.
Alongside this, Eurobank has helped establish a new India–Greece–Cyprus Business and Investment Council, designed to strengthen trade and investment links between the three countries. Several companies have already joined the initiative, including major Indian and international firms that have set up a presence in Cyprus in recent years.
