Established in 1980 as a private company and subsequently converted to a public company listed on the Cyprus Stock Exchange, Euroinvestment & Finance Public Limited initially specialised in the provision of car finance. In the mid 1990’s it became part of Cyprus’ leading insurance group, then owned by the Shacolas Group, and grew its operations through acquisition and diversification into investor finance. In 1999, after a brief period under the direct control of the Shacolas Group, it became part of the Greek banking group Piraeus Bank A.E. with the Shacolas Group retaining a substantial minority stake.

The company engages in banking operations under the Cyprus Banking Law. Regulated by the Central Bank of Cyprus, it maintains deposits with the Central Bank under its minimum reserve regulations and is a member of the Deposit Protection Scheme operated by the Central Bank of Cyprus. Banking operations comprise deposit taking and mainstream lending in the form of investor finance for Cyprus Stock Exchange transactions and, to a lesser extent, car finance, general finance and personal loans. The core activity of investor finance has been negatively affected by the CSE stock market crash of 2000 and beyond.

Through its CSE listed subsidiary company, Philoktimatiki Public Ltd, the group also engages in construction and real estate development activities.