CREDIT AGRICOLE SA: Crédit Agricole announces the purchase of a 9.18% stake in Banco BPM’s share capital thereby reinforcing its long lasting relationship with Banco BPM S.p.A.
07 April 2022 - 10:07PM
CREDIT AGRICOLE SA: Crédit Agricole announces the purchase of a
9.18% stake in Banco BPM’s share capital thereby reinforcing its
long lasting relationship with Banco BPM S.p.A.
Montrouge, 7 april 2022
Crédit Agricole announces the
purchase of a 9.18% stake in Banco BPM’s share capital thereby
reinforcing its long lasting relationship with Banco BPM
S.p.A.
Crédit Agricole S.A. (“Crédit Agricole”)
announces that – further to purchases on the market and a
transaction with a primary financial institution – it has
acquired a 9.18% stake in the share capital of the
Italian bank Banco BPM S.p.A. ("Banco BPM").
The
transaction highlights Crédit Agricole’s very
positive appreciation of Banco BPM’s intrinsic qualities: a
solid franchise, positive financial perspectives and a strong and
performing management team. It also strengthens the solid
relationship with Banco BPM, characterized by the
long-standing strategic partnership in consumer finance through the
joint-venture Agos. Crédit Agricole aims at expanding the scope of
strategic partnerships with Banco BPM.Credit Agricole has not
applied for the supervisory authorities’ authorization to cross the
10% threshold in Banco BPM’s share capital.
The transaction is expected to have a
negligible impact on Crédit Agricole S.A.’s CET1 ratio.
CONTACT PRESSE CRÉDIT AGRICOLE
Olivier TASSAIN : 01 43 23 25 41 –
olivier.tassain@credit-agricole-sa.fr
- 2022 04 07 (EN) CASA - Banco BPM
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