Eurobank Group: A catalyst for business connectivity between Greece – Cyprus – India

Economic cooperation, trade relations, and business connectivity were at the forefront of the historic visit— the first in 23 years—of Indian Prime Minister Narendra Modi to Cyprus. Taking place less than a year after Modi’s visit to Athens, this occasion underscored the strategic role of Greece and Cyprus in the India-Middle East-Europe Economic Corridor (IMEC), a global initiative aimed at strengthening trade flows between India and Europe.

As a leading regional banking group with a strong presence in Southeastern Europe—and a key player in both the Greek and Cypriot markets—Eurobank has launched a series of initiatives (detailed documentation attached) to deepen cross-border collaboration with India. Through institutional partnerships, technological synergies, and targeted business actions, the Bank is investing in interconnectivity infrastructure and innovative cooperation platforms, aiming to promote sustainable growth models and position Greece and Cyprus as key entry points for India into the European market.

During Modi’s visit, it was announced that following its rollout in Greece, the Indian payment system UPI will also be implemented in Cyprus through Eurobank. Additionally, the first agentic AI voice platform in Europe was inaugurated, based on Indian technology and headquartered in Cyprus.

Eurobank’s role in trilateral cooperation

As a leading regional banking group with a strong presence in Southeastern Europe—and a key player in both the Greek and Cypriot markets—Eurobank has launched a series of initiatives (detailed documentation attached) to deepen cross-border collaboration with India. Through institutional partnerships, technological synergies, and targeted business actions, the Bank is investing in interconnectivity infrastructure and innovative cooperation platforms, aiming to promote sustainable growth models and position Greece and Cyprus as key entry points for India into the European market.

Eurobank CEO Fokion Karavias stated: “In less than 12 months, we have launched a series of initiatives that significantly broaden the foundation for business cooperation between India, Cyprus, and Greece. The global momentum of the Indian economy is creating new dynamics, and the potential of its connection with Europe is boundless—just like the business opportunities ahead. Supporting the enterprises that will lead this progress is a strategic commitment for us. Through this commitment, we aim to act as the financial pillar of this trilateral engagement, thereby contributing not only to the realization of business plans but also to positioning Greece and Cyprus as a principal gateway for India into Europe.”.

Michalis Louis, CEO of Hellenic Bank, a Eurobank Group member, added: “Cyprus has the potential to play a pivotal role as a bridge between India and Europe. With a focus on technological innovation, outward-looking strategies, and strategic alliances, we are actively helping shape a new development model for the region. The IMEC Corridor further enhances Cyprus’s potential as a financial and business hub, and leveraging Eurobank Group potential, we are seizing the opportunities to promote investment, support enterprises, and generate long-term value for both the economy and society.”