PARIS (Agefi-Dow Jones)–Crédit Agricole SA announced on Thursday that it has acquired a 9.18% stake in the capital of the Italian bank Banco BPM, resulting from the merger in 2017 of Banco Popolare and Banca Popolare di Milano.
This operation “strengthens the solid relations maintained with Banco BPM, embodied by the long-standing strategic partnership in consumer credit within the Agos joint venture”, indicated the French bank in a press release, saying it was ready to expand strategic partnerships between the two establishments.
Crédit Agricole has not requested the authorization of the supervisory authorities to cross the threshold of 10% of the capital, the press release specifies.
The amount of the transaction was not specified. Its impact on Crédit Agricole SA’s CET1 solvency ratio will be “negligible”.
-Thomas Varela, Agefi-Dow Jones; +331 41 27 47 99; [email protected]
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
April 07, 2022 17:20 ET (21:20 GMT)