Eurobank CEO Phokion Karavias discusses European social contract and expansion

During the 9th Athens Investment Forum, Eurobank CEO Phokion Karavias addressed the need to renew the European social contract. He noted that the post-WWII model, based on the expectation that each generation supports the previous one, has fractured due to demographic shifts. Karavias highlighted that the population aged 65 and older in the EU has risen from 16% at the start of the century to 22% today, creating a risk of eroding trust among younger generations who face high costs for housing and family formation.

To ensure long-term sustainability, Karavias emphasized the importance of fiscal discipline, increased productivity, and investment. Regarding Eurobank's strategic direction, the CEO indicated plans to maintain sufficient capital reserves for potential acquisitions in the banking, insurance, and wealth management sectors. Following recent deals involving Eurolife, CNP, and Hellenic Bank in Cyprus, Karavias is also focusing on expansion into Asian and Middle Eastern markets, with a presence already established in Mumbai and plans for Abu Dhabi by early 2027.