(CercleFinance.com) – Crédit Agricole announces the signature by CACEIS, its joint venture with Santander, on October 14, of a memorandum of understanding offering it the possibility of acquiring the asset servicing activities of Royal Bank of Canada (RBC) in Europe.
This transaction would enable CACEIS to strengthen its positioning in asset servicing, with approximately €4.8 trillion in assets under custody and €3.5 trillion in assets under administration (figures as of March 31, 2022).
The completion of the transaction, subject to the usual conditions precedent, could take place by the end of the third quarter of 2023. It would have a negative impact of less than 10 basis points on Crédit Agricole SA’s CET1.
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