Eurobank is planning to expand its activities to other countries, Stavros Ioannou, Eurobank’s deputy chief executive officer, group chief operating officer and head of international activities said to Bloomberg. The bank plans to expand its operations to new markets, including Saudi Arabia, Dubai, India and Israel, targeting wealthy clients as the Greek lender seeks to increase profits from international activities, he added.
“In order to be successful we need to grow our footprint and this can only be achieved when you increase the markets where you operate,” he explained. “These are still under development wealth management markets that you have to enter early enough to grab the potential and the opportunities.”
Eurobank’s heightened ambitions are a further sign of recovery in the nation’s financial sector, after a decade-long debt crisis left the banks saddled with over a hundred billion euros in bad loans by 2016. In line with its domestic peers, the lender’s share price has risen by almost 46% this year, aided by the expectation that the nation will soon regain investment-grade status.
