Credit Agricole Acquires 9.2% Stake in Italy’s Banco BPM
France-based Crédit Agricole acquired a 9.18% stake in Italian bank Banco BPM. Crédit Agricole expects to expand the scope of strategic partnerships with Banco BPM. In a statement, the bank said “The transaction highlights its very positive appreciation of Banco BPM’s...
Credit Agricole Net Income Up 4.4x; SocGen’s Profits Jump 3.8x
Credit Agricole Group reported a 4.4x rise in its Q4 net income to €2.35bn ($2.7bn) vs. €530mn ($604mn) a year ago. This was helped by revenues increasing 9.6% to €9.5bn ($10.8bn) from last year’s €8.8bn ($10bn) and its underlying cost of risk down to down to...
Generali Enters Talks to Buy Credit Agricole Unit
Assicurazioni Generali has entered into exclusive talks with Credit Agricole to buy the French bank’s subsidiary La Medicale, as part of plans to expand its European non-life and health insurance businesses. According to a statement by the Italian insurer, the talks...
