The European Central Bank (ECB) will require from January 1 that the CET1 ratio of the Crédit Agricole CAGR.PA Group rises to at least 9.7%, a level higher than the 8.9% demanded so far, the French bank announced in a press release on Friday.
“The Crédit Agricole Group must therefore respect a CET1 ratio of at least 9.7% from January 2024, including the requirements under Pillar 1 and Pillar 2,” says the credit institution, which specifies that it as of September 30, had a phased CET1 ratio of 17.5%.
(Report Mathieu Rosemain, written by Nicolas Delame)