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New branch opening in London

Eurobank EFG celebrated the opening of a new Branch at Mayfair – in the heart of London.

The Berkeley Square Branch was opened in the presence of Mr. Nikos Karamouzis, Eurobank EFG’s Deputy Chief Executive Officer, Mr. Michalis Louis, the Chief Executive Officer of Eurobank’s subsidiary in Cyprus, Mr Dimos Arhontidis, the Head of Group Private Banking and Messrs John Makris and Athos Kaissides, the Eurobank EFG executives in London.

The new Branch, in close cooperation with the Group’s subsidiaries in Luxemburg and Cyprus, provides uniform and comprehensive international banking services to the Group’s corporate and private banking clients. It must be mentioned that even in the current demanding financial conditions, client confidence in the Eurobank EFG Group Private Banking and Asset Management has grown. Eurobank EFG currently manages assets of nearly 7 billion Euros on behalf of private clients, thus maintaining a leading position in this critical sector.

More than 80 clients had the opportunity to attend the meetings and presentations organised in conjunction with the inauguration. The services provided by Eurobank EFG London to the local shipping and Cypriot business community, as well as to all the Group’s clients in Greece and South Eastern Europe, were specifically discussed.

The prospects, challenges and investment opportunities defining the Greek economy during the current transitional period were also analysed. In particular, Mr. Karamouzis stressed that there are strong prospects, under certain conditions, for re-launching the Greek economy with a significally strengthened Greek banking system as the springboard.

Mr. Karamouzis stressed the fact that the return of Greece to a virtuous cycle of sustainable economic growth is the only way out of the crisis. He added that the starting point for this cycle requires the country to encourage and implement a new development plan based on economic freedom, on sizing down of the public sector and on the implementation of an export oriented growth strategy.

Eurobank EFG’s Deputy CEO mentioned that the basic conditions for the new development model are market deregulation, efficient public administration and for the country to re-establish its international confidence and credibility. The key economic axes are the valiant reforms, the flourishing of entrepreneurship, private and public investment so that over time the economic transformation will make Greece a competitive and productive force in the region.