The Eurobank EFG group announces that it has

A. Received approval from the Central Bank of Cyprus to establish and operate a subsidiary banking company in Cyprus.  The new company will form the vehicle for the implementation of the Group’s ambitious business plan in the country.  Accordingly, the business, operations and assets of the existing Eurobank EFG branch in Nicosia have been transferred to the new subsidiary of the Group.

B. Secured the license form Russia’s Central Bank to establish and operate of a representative office in Moscow.  Constantinos Gregoriou, an experienced banker with a long and significant track record in the Russian market, has been appointed head of the office.

The purpose of the establishment of the office is market research, furnish information to Russian business people for Eurobank EFG Group and offering assistance to business people interested in establishing their business activities in the Russian Market.