Latest news with #Eurobank
Reuters
03-08-2025
- Business
- Reuters
Eurobank to distribute interim dividend after strong first half
ATHENS, July 31 (Reuters) - Greek lender Eurobank ( opens new tab, the country's largest by market capitalisation, said on Thursday that it will distribute an interim dividend of 170 million euros after announcing a strong profit for the first half of the year. The bank reported adjusted net earnings for the January-June period of 711 million euros ($812.96 million), slightly down from a record profit of 732 million euros a year earlier. Chief Executive Fokion Karavias told analysts on a call that profit was "progressing according to our expectations". "For the full year 2025 we have been committed to at least a 50% payout ratio... meaning that this may be higher than 50%," Karavias said, pointing to stronger than expected loan growth. Greek banks are returning to profit after they were nationalised following a financial meltdown in late 2009 amid the country's debt crisis, requiring several capital injections from the government. They were fully privatised last year. The European Central Bank (ECB) has approved requests by Greece's four largest lenders to resume dividend payments for 2024 after 16 years, a further sign of the sector's recovery and the country's economic rebound. Eurobank, which also operates in Bulgaria and Cyprus, said in a statement that its net interest income rose 12% year-on-year to 1.27 billion euros while its non-performing loan exposure (NPE) ratio fell to 2.8% from 3.1% a year earlier. Net fees jumped 29% to 364 million euros, mainly boosted by network activities and its wealth management business. ($1 = 0.8746 euros)
Yahoo
11-07-2025
- Business
- Yahoo
The great payments shake-up: Why consolidation Is reshaping everything
The payments industry is undergoing a tectonic shift—and no one can afford to ignore it. As margins shrink and tech demands rise, consolidation has become the name of the game. Banks, processors, software giants, and payment gateways are all scrambling to future-proof their businesses. The goal? As PwC explains, bigger scale, tighter integration, and deeper customer relationships. If you're not moving, you're falling behind. Merchant acquiring is right at the heart of this consolidation wave—and the stakes are getting higher by the quarter. Look no further than Worldline, which has been snapping up regional players like Axepta Italy and Eurobank Merchant Acquiring to extend its European footprint. These aren't just vanity acquisitions; they're strategic power plays that lower unit costs on essentials like KYC/AML compliance, fraud mitigation, and network integration. Why it matters: In today's margin-compressed environment, scale isn't just a benefit—it's a lifeline. PwC has even warned that processors commanding 'super majority' volumes may lose their edge unless they evolve beyond price competition and start offering bundled, end-to-end solutions that add real value. Translation? Mid-size regional gateways with strong merchant relationships are sitting ducks for acquisition. If they can't grow, they'll get bought—or left behind. The line between software and payments is disappearing fast. Shopify, QuickBooks, and Salesforce have all embedded payments into their platforms. As one expert points out, Stripe is leading the charge, treating payments as just one feature in a much bigger merchant toolkit. And PayPal's move to acquire iZettle helped it break out of the browser and into the real world of small businesses and POS terminals. This isn't just feature creep—it's a takeover strategy. By owning the payment flow, these platforms become stickier, smarter, and more indispensable to their users. It also helps merchants simplify vendor management and get more out of their software investments. Why it matters: Payment capabilities are becoming table stakes for platforms. That means smaller, standalone gateways that can't integrate or offer added-value services like fraud detection, reconciliation, or analytics are at risk. They'll either partner up, sell out, or get boxed out. Banks have historically viewed payments as plumbing—necessary but not exactly glamorous. That's changing fast. According to PwC, forward-thinking banks now see payments as a revenue driver and a powerful way to keep customers engaged across multiple channels. By acquiring or building their own merchant acquiring arms, banks are taking control of the entire transaction lifecycle. Imagine a local bank offering a card terminal to a small café—and then layering on rewards programmes, business loans, and data analytics. Suddenly, payments aren't a cost—they're a customer touchpoint and cross-sell engine. Why it matters: Banks are turning themselves into two-sided ecosystems. They own the data. They own the rails. Now, they want to own the merchant relationship too. That spells opportunity for small acquirers with local roots—and serious competition for traditional processors. The winners in this new landscape will be those who combine size with smarts. It's not just about being bigger. It's about being better connected, more innovative, and ruthlessly efficient. Here's where to keep your eyes: Mid-tier PSPs and regional acquirers: Prime takeover targets or consolidation catalysts. Software platforms acquiring gateways: To keep control of payments and deepen user engagement. Banks building or buying merchant services: To turn a cost centre into a growth engine. But let's not pretend this is without risk. When big players dominate, innovation can take a back seat. Regulators will be watching—and so will merchants who don't want to be locked into closed ecosystems. Still, the direction is clear: strategic consolidation offers a way to cut costs, unlock new revenue streams, and respond to merchants' demand for simplified, seamless solutions. Those who adapt will lead the next era of payments. Those who don't? They'll be left behind. Roger Alexander serves as a key advisor to Chargebacks911's Advisory Board and its CEO, Monica Eaton, assisting the company with its expansion initiatives "The great payments shake-up: Why consolidation Is reshaping everything" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. 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Coin Geek
01-07-2025
- Business
- Coin Geek
India PM Modi's visit to Cyprus, Croatia boost tech ties
Getting your Trinity Audio player ready... Indian Prime Minister Narendra Modi's recent visit to Cyprus, Canada, and Croatia has injected new momentum into India's global partnerships, with a focus on trade, emerging technology, and innovation. Modi's official visit to Cyprus marked a pivotal moment in bilateral ties, with both nations keen on elevating their collaboration, particularly in the fields of technology, research, and regional cooperation with the European Union and the Mediterranean region. 'President Nikos Christodoulides and I interacted with leading CEOs in order to add vigour to commercial linkages between India and Cyprus. Sectors like innovation, energy, technology and more offer immense potential,' Modi wrote on X. 'President Nikos Christodoulides and I held wide-ranging talks, covering the full range of India-Cyprus relations. It's widely known that bilateral ties between our nations are time-tested. Today, we talked about cooperation in areas like defence, security, trade, technology, healthcare, renewable energy and climate justice,' Modi added. One of the most significant outcomes of the visit was an agreement between the international arm of the National Payments Corporation of India (NPCI), which operates India's retail payments and settlement systems, and Eurobank Cyprus, paving the way for Unified Payments Interface (UPI)-enabled cross-border digital payments. 'NIPL (NPCI International Payments Limited) and the Eurobank Cyprus reached an understanding on introducing UPI for cross border payments between the two countries which would benefit tourists and businesses,' the Prime Minister's Office informed in a statement. This initiative marks a major step in linking India's advanced fintech platforms with European markets, promising faster, more seamless financial interactions for both tourists and businesses. India's UPI, a real-time payment system that supports peer-to-peer and merchant transactions, has seen explosive growth in recent years. According to figures from NPCI, daily UPI transactions surged to 596 million in April 2025, underscoring the system's vital role in India's digital economy and its increasing global footprint. Modi's visit not only strengthened diplomatic ties but also set in motion an urgent and strategic alignment between India and Cyprus in frontier technologies, innovation policy, and digital finance. Recognizing the accelerating pace of global technology transformation, Modi made a strong appeal to Cypriot enterprises to engage with India's fast-growing innovation landscape. He highlighted emerging domains, including semiconductors, quantum technologies, and critical minerals, as strategic areas ripe for collaboration. 'While Cyprus and Croatia are not global tech leaders, their strategic positions within the EU offer India access to European markets and innovation networks,' Sharat Chandra, founder of EmpowerEdge Ventures and a startup enabler, told CoinGeek. 'Cyprus, a hub for IT and fintech, supports India's digital ambitions, while Croatia's growing startup ecosystem complements India's focus on emerging technologies,' Chandra pointed out. 'Under PM Modi's leadership, India's broader tech agreements with nations like the U.S., U.K., Singapore, UAE, and African countries create a robust framework for knowledge exchange, investment, and infrastructure development. These pacts, covering AI, semiconductors, and digital innovation, position India to leapfrog technologically by leveraging global expertise and markets, significantly advancing its ambition to become a tech powerhouse,' Chandra added. Modi and Christodoulides are committed to rapidly advancing collaboration in innovation-driven sectors, technology, and research. Both leaders agreed to collaborate across key sectors such as artificial intelligence (AI), digital infrastructure, and startup collaboration while fostering stronger ties between academic institutions and industry. The two countries also agreed to launch the India–Greece–Cyprus (IGC) Business and Investment Council, aimed at boosting trilateral cooperation in renewables and digital services. In a joint declaration, both countries agreed to deepen their defense and security cooperation, including through collaboration between their respective defense industries, with a special focus on cybersecurity and emerging technologies. As Cyprus prepares to assume the Presidency of the EU Council in 2026, the two leaders reaffirmed their commitment to further strengthen the India-EU strategic partnership. Recognizing Cyprus as a key economic partner and a gateway to Europe, especially in foreign direct investment, both nations signed a key agreement between the NSE International Exchange (at GIFT City) and the Cyprus Stock Exchange. The agreement lays the groundwork for dual listings while also expanding joint efforts in financial research and outreach. This pact will likely rapidly establish new investment corridors between India and Europe, enabling European firms to leverage India's expanding capital markets through the GIFT City platform—a rising hub for international financial activity. For investors in both countries, the agreement promises wider access to financial instruments, faster cross-border market connectivity, and streamlined capital flow mechanisms. With global markets evolving rapidly, this partnership signals a timely push to align India and Cyprus in the fast-paced world of global finance. Croatia to collaborate on research, AI, ML, cybersecurity In Croatia, PM Modi and his counterpart Andrej Plenković agreed to fast-track a strategic partnership aimed at establishing Croatia as a primary Mediterranean gateway to Central Europe. This initiative is intended to unlock new economic corridors and enhance regional connectivity. Digital innovation emerged as a central theme in their discussions. Recognizing its transformative potential, both sides pledged to strengthen the India-Croatia Startup Bridge and expedite collaboration between startup incubators and innovation ecosystems. Focus areas include high-growth sectors such as health technology, agricultural technology, clean and renewable technologies, AI, machine learning (ML), and cybersecurity. The two leaders also emphasized the need to rapidly deepen cooperation in science and technology. They called for immediate action to foster institutional linkages between universities and research centers in both countries, prioritizing joint research and development (R&D) projects and sustained exchange programs for young scientists and innovators. 'Held productive talks with my friend, Prime Minister Andrej Plenković in Zagreb. Our talks covered many sectors, aimed at making the India-Croatia bond even stronger. We will be working closely in the fields of defence and security, pharmaceuticals, agriculture, IT, renewable energy, technology and more. Synergies in areas like semiconductors, shipbuilding, connectivity and more will also be greatly beneficial,' Modi said. Overall, Modi's Croatia visit reflected a strong bilateral commitment to converting economic and technological synergies into concrete, future-oriented outcomes through targeted partnerships and accelerated implementation. Modi backs renewable energy to meet AI demand At the G7 summit in Kananaskis, Canada, Modi pointed out that the surge in energy demand, which is driven by AI data centers and tech-intensive societies, must be met urgently with renewable energy solutions. As India accelerates its adoption of AI and emerging technologies, Modi stated that ensuring affordable, reliable, and sustainable energy is a top priority for India. As the global demand for data processing and storage surges, especially with the rapid expansion of AI data centers, there is a corresponding rise in energy consumption. Modi stressed that meeting these growing energy needs in a sustainable manner requires a decisive shift toward renewable energy sources. '…We are focusing on solar energy and small modular reactors. We are also developing smart grids, energy storage systems, and green energy corridors to connect renewable energy production with demand centers,' Modi said during the G7 Outreach Session on Energy Security. Underscoring India's approach to technology, Modi emphasized a deeply human-centric philosophy. He asserted that the real value of innovation lies not in its sophistication but in its ability to uplift those on the margins. For India, ensuring that the benefits of technology reach the last person in the queue, particularly in the Global South, is a guiding principle. He offered a vivid example: if India creates an AI-powered weather prediction app, its success would be measured by its ability to support a farmer or a fisherman in a remote village, enabling them to make better decisions for their livelihood. To promote inclusivity in the digital era, Modi cited the development of 'BHASHINI'—an AI-based language platform designed to bridge linguistic divides. This tool allows individuals from rural or remote areas to access information and engage with global content in their own languages, making them active participants in the global digital dialogue. 'Everyone recognises the potential and usefulness of AI. However, the real challenge is not the power and capability of AI itself, but ensuring that AI tools enhance human dignity and empowerment,' Modi said. Modi also put forward a series of key recommendations on the global approach to AI. First, he emphasized the urgent need for an international framework to govern AI—one that strikes a balance between addressing ethical, legal, and societal concerns while still encouraging innovation. Additionally, he highlighted the strategic significance of critical minerals and advanced technologies in the AI era. He called for deeper international collaboration to secure and fortify global supply chains that support AI infrastructure. It is vital, he said, that access to these resources is not concentrated or weaponized by any single country, and that they remain a shared global asset to support collective progress. 'In the last century, we witnessed competition over energy. In this century, we must embrace cooperation in the field of technology…With this spirit, I extend a cordial invitation to all of you for the AI Impact Summit to be held in India next year,' Modi added. Watch: Exploring use cases for blockchain in India title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
17-02-2025
- Business
- Yahoo
Eurobank partners with LTIMindtree on banking tech upgrade
Greek lender Eurobank, a subsidiary of Eurobank Ergasias Services and Holdings, has forged an alliance with Indian IT firm LTIMindtree, with an aim to improve customer experience and operational efficiency. This multi-year collaboration is set to result in the development of 'innovative' IT services for Eurobank and its subsidiaries. The partnership was marked by the launch of a new Global Delivery Center at LTIMindtree's office in Pune, India, powered by Fairfax Digital Services. This centre, along with LTIMindtree's recently established office in Greece, will focus on driving technology modernisation, digital innovation, and the enhancement and maintenance of critical banking applications. This initiative is expected to help Eurobank cater to the increasing demands of its customers as it expands its services. As part of this multi-year relationship, LTIMindtree has been chosen as the Services Partner for Eurobank Luxembourg's Temenos implementation programme. The company will offer maintenance, data migration, quality assurance, and post-production support services to the bank. The partnership is set to drive innovation and modernise the technology infrastructure for Eurobank Group across Cyprus, Luxembourg, and Greece, aided by LTIMindtree's technology and data solutions. Eurobank Holdings Deputy CEO, Group COO & International Activities, Stavros Ioannou said: "Our journey to becoming a digital leader is built on strategic partnerships that accelerate modernisation and create seamless, future-ready solutions. Partnering with LTIMindtree, in collaboration with Fairfax Digital Services, marks a significant milestone in this journey—strengthening our IT capabilities to meet evolving customer expectations and regulatory requirements." The Eurobank Group operates in Greece, Cyprus, Luxembourg, Bulgaria, and the UK (London). As of 30 September 2024, the group reported €99.6bn in total assets, a network of 604 branches in Greece and abroad, and a workforce of 12,880. "Eurobank partners with LTIMindtree on banking tech upgrade" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
17-02-2025
- Business
- Associated Press
Eurobank Collaborates with LTIMindtree for a Multi-Year Banking Technology Program
PUNE, India & ATHENS, Greece--(BUSINESS WIRE)--Feb 17, 2025-- Eurobank S.A. ('Eurobank'), a subsidiary of 'Eurobank Ergasias Services and Holdings S.A.' ('Eurobank Holdings') a leading banking group in Athens, Greece and LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, have joined forces to initiate a multi-year mutually beneficial cooperation focused on enhancing customer experience by improving banking operations and building innovative IT services for Eurobank and its subsidiaries. The collaboration has been enabled by Fairfax Digital Services (A Fairfax Company) and will include the establishment of a Global Delivery Center in India. Global Delivery Center, Pune – Executing a shared vision Strengthening the commitment to innovation, customer experience, and excellence in banking technology, Eurobank & LTIMindtree, powered by Fairfax Digital Services, officially inaugurated their new Global Delivery Center at the LTIMindtree office today in Pune, India. The Global Delivery Center is yet another testimony to the strong economic ties between Greece & India. Alongside the recently established LTIMindtree Greece office, this center will drive technology modernisation, digital innovation as well as enhance and maintain critical banking applications. This initiative will empower Eurobank Group to effectively meet growing customers' demands as it expands its services. Empowering Eurobank Group - Harnessing Next-Gen IT Solutions to enhance customer experience As part of the multi-year relationship, LTIMindtree has been selected as the Services Partner for Eurobank Luxembourg's Temenos implementation program, providing maintenance, data migration, quality assurance, and post-production support services to the bank. LTIMindtree will help drive innovation and modernise the technology infrastructure for Eurobank Group, in Cyprus, Luxembourg and Greece. The collaboration will enable both companies to leverage the power of LTIMindtree's innovative technology and data solutions to drive significant improvements in customer experience and operational efficiency. Deputy Chief Executive Officer (CEO), Group Chief Operating Officer (COO) & International Activities, Eurobank Holdings, Stavros Ioannou, said, 'Eurobank Group has always been at the forefront of innovation, driving digital transformation to enhance customer experience and operational excellence. Our journey to becoming a digital leader is built on strategic partnerships that accelerate modernisation and create seamless, future-ready solutions. Partnering with LTIMindtree, in collaboration with Fairfax Digital Services, marks a significant milestone in this journey—strengthening our IT capabilities to meet evolving customer expectations and regulatory requirements. We are excited about the future as we redefine customer experience and set new industry benchmarks with the launch of our new Delivery Center in India.' Sanjay Tugnait, CEO Fairfax Digital Services, said, 'At Fairfax Digital Services, we are proud to collaborate with Eurobank and LTIMindtree to establish this new Global Delivery Center in Pune. By embracing emerging technologies, we are driving innovation to create enhanced customer experiences and deliver strong business value. This partnership will help Eurobank navigate a rapidly evolving technology landscape and strengthen its position as a digital leader in the industry.' Srini Rao, EVP & Chief Business Officer Europe, LTIMindtree, said , 'We are thrilled to announce our partnership with Eurobank as they embark on an ambitious journey to modernize their banking infrastructure technology platform. Our expertise in cutting-edge IT services and seamless Temenos implementation services positions us uniquely to deliver innovative solutions that meet the future needs of Eurobank.' About Eurobank Group The Eurobank Group, consisting of Eurobank SA and its subsidiaries, is a robust financial organisation. The Group develops financial products and services, focusing on customers and their needs. It offers sophisticated choices and well-rounded services to individuals and businesses. The Eurobank Group operates with transparency, builds credibility and applies modern corporate governance practices. With presence in Greece, Cyprus, Luxembourg, Bulgaria and UK (London), the Eurobank Group counts (data as of 30 September 2024): €99.6 billion in total assets 604 branches network in Greece and abroad 12,880 employees About Fairfax Financial Holdings Limited Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management. Founded in 1985 by the present Chairman and Chief Executive Officer, Mr. V. Prem Watsa, the company is headquartered in Toronto, Canada. About LTIMindtree LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 86,000+ talented and entrepreneurial professionals across more than 40 countries, LTIMindtree — a Larsen & Toubro Group company — solves the most complex business challenges and delivers transformation at scale. For more information, please visit SOURCE: LTIMindtree Copyright Business Wire 2025. PUB: 02/17/2025 03:30 AM/DISC: 02/17/2025 03:30 AM
