Posted in Finance, Accounting and Economics Terms, Total Reads: 399
Eurobank can be defined as a financial institution that acts as an intermediary and makes global trade, money transactions etc across the world easier by facilities of loans, foreign currencies etc. It acts a channel which makes its easier for companies across the world to do their businesses, without having to worry too much about international currencies, transactions etc, thereby resulting in economic growth.
Eurobanks cater to the needs to businesses which involve payments to be done in different currencies. If a company wants to make a payment from one currency to another, it simply deposits the money in their own currency in the Eurobank, which then deposits the equivalent amount to the beneficiary in their respective currency. This becomes an extremely important point in simplifying global trade.
There is not fixed location for a eurobank and can be present anywhere globally.