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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Credit Agricole SA | TG:XCA | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.075 | 0.51% | 14.92 | 14.88 | 14.96 | 14.975 | 14.78 | 14.89 | 8,057 | 22:50:06 |
Montrouge, 15th of December 2023
Crédit Agricole S.A. announces the finalization of apartnership in Italy between Banco BPM and Crédit Agricole Assurances for non-life, personal protection and creditor insurance
Crédit Agricole S.A. announces today the finalization of a partnership between Banco BPM and Crédit Agricole Assurances, subsidiary of Crédit Agricole S.A., including:
In accordance with the announcement of the signing of the binding Term sheet on December 23rd 2022, this transaction is fully in line with Crédit Agricole Assurances' strategic plan to 2025 and represents a major new step in its international development.
The acquisition of Banco BPM Assicurazioni, Vera Assicurazioni and Vera Protezione will enable Crédit Agricole Assurances to diversify its business mix by increasing its non-life, personal protection and creditor insurance premiums by almost 60%(1).
The agreement makes Crédit Agricole Assurances the 3rd largest non-life bancassurer in Italy(2).
This transaction is in line the profitability criteria of Credit Agricole S.A. with an expected return on investment of more than 10% over 3 years and has a negligible impact on Credit Agricole S.A. CET1 ratio and on Crédit Agricole Assurances’ Solvency 2 ratio.
PRESS CONTACTS CRÉDIT AGRICOLE S.A.
Alexandre Barat + 33 1 57 72 12 19 alexandre.barat@credit-agricole-sa.fr Olivier Tassain + 33 1 43 23 25 41 olivier.tassain@credit-agricole-sa.fr
INVESTOR RELATIONS CONTACTS CRÉDIT AGRICOLE S.A.
Institutional Investors | + 33 1 43 23 04 31 | investor.relations@credit-agricole-sa.fr |
Individual Shareholders | + 33 800 000 777 (toll free number France only) | relation@actionnaires.credit-agricole.com |
Read all press releases at: www.credit-agricole.com
(1) Calculation based on end 2022 data(2) Statistics drawn up by the Italian consultancy IAMA Consulting, in market share terms, based on data to the end of June 2023
Attachment
1 Year Credit Agricole Chart |
1 Month Credit Agricole Chart |
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