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BAMI Banco BPM SpA

9.586
-0.052 (-0.54%)
Last Updated: 15:42:05
Delayed by 15 minutes
Share Name Share Symbol Market Type
Banco BPM SpA BIT:BAMI Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.052 -0.54% 9.586 9.586 9.53 9.70 9.476 9.656 6,828,831 15:42:05

Credit Agricole Takes 9.2% Stake in Banco BPM

08/04/2022 6:51am

Dow Jones News


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By Joshua Kirby

 

Credit Agricole SA said late Thursday that it has bought a 9.18% stake in Italy's Banco BPM SpA, building on an existing partnership between the two banks.

The French lender said it would aim to expand strategic partnerships with Banco BPM after the stake acquisition, the financial details of which it didn't disclose. The two already collaborate on a consumer-finance joint venture called Agos.

Explaining the move, the bank highlighted Banco BPM's strengths including a "solid franchise, positive financial perspectives and a strong and performing management team."

Credit Agricole said it hasn't applied to the authorities to cross the 10% threshold of Banco BPM's share capital, adding that the transaction is expected to have a negligible impact on the bank's CET1 ratio, a measure of a lender's capital strength.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

April 08, 2022 01:36 ET (05:36 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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