THE SECOND largest bank in Greece yesterday announced that it would be opening four branches on the island.
Eurobank EFG Group is an international banking organisation which has a leading presence in the fields of financial products and services. The bank is the second largest in terms of market capitalisation at the Athens Stock Exchange, while its total assets amount to 63 billion euros.
On the occasion of the official launch of the Group’s operations in Cyprus, CEO Nicholas Nanopoulos said: “The Cypriot economy is a modern economy with growth dynamics and annual rates between 3.5 and 4 per cent, clearly above the European average. Its impending entry into the eurozone will further enhance this presence, opening new horizons for the economy of Cyprus.”
He also said that the island “is expected to fulfill several prerequisites for it to become not only an important overseas financial centre, but also a major international business centre.”
Referring to the prospects that the wider region has to offer, Nanopoulos stressed: “Our entry into the Cypriot market comes at an opportune time for both our countries. Greece and Cyprus, members of a single and enlarging European Union and the eurozone, with stable and modern economies, strong and mature financial systems and unique geopolitical competitive advantages to offer, can act as powerful regional development poles and become financial and economic centres in the wider region.”
The Group, which began operations in Greece in 1990, currently plays a leading role in the fields of private banking, corporate banking, asset management, insurance services, investment banking and equity management. It employs more than 21,000 people and has a network of more than 1,500 branches.
Today the Eurobank EFG Group is present in Greece, Bulgaria, Romania, Serbia, Poland, Ukraine, Turkey and Cyprus, where it has invested over 2.1 billion euros.
Overall, the Group addresses a market of over 200 million people with total GDP in excess of one trillion euros.
The Group’s strategic objective is to position itself as the bank of first choice for all clients in each and every country it is active in and to support sound entrepreneurial forces and households so as to actively take part in the economic growth.
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