Latest news with #CreditAgricoleSA
Bloomberg
30-04-2025
- Business
- Bloomberg
Credit Agricole's BPM Decision Hinges on What It Gets in Return
Credit Agricole SA wants to renew an asset management distribution deal with UniCredit SpA, but it hasn't yet decided whether it will support the Italian lender's bid for Banco BPM SpA. 'This will be an optimization decision for us,' Philippe Brassac, Credit Agricole's chief executive officer, said on a call with reporters. 'We will act to ensure that we emerge stronger from this situation, not weaker.'
Bloomberg
30-04-2025
- Business
- Bloomberg
Credit Agricole's Costs, Tax Bill Spoil Last Quarter for Brassac
Credit Agricole SA Chief Executive Officer Philippe Brassac saw revenue rise to a record in his final quarter at the helm of the French lender, but higher-than-expected costs and a French tax bill weighed on profit. Operating expenses rose 8.8% from a year earlier, leaving net income down 4.2%, the bank said Wednesday. Integration costs and investments in business lines helped drive up expenses, while a new corporate tax eroded the bottom line further.
Bloomberg
14-04-2025
- Business
- Bloomberg
Credit Agricole Boosts BPM Stake to 19.8% Amid UniCredit Bid
Credit Agricole SA has lifted its stake in Banco BPM SpA to 19.8%, according to a regulatory filing on Monday, as the Italian bank is facing an unsolicited takeover bid from rival UniCredit SpA. Credit Agricole earlier this month received approval from the European Central Bank to raise its stake in Banco BPM to just under 20%. The lender said at the time that it 'intends to exercise its right to physical delivery of all Banco BPM shares underlying the position of derivatives,' which would take its stake to 19.8%.
Bloomberg
04-04-2025
- Business
- Bloomberg
Credit Agricole Agrees to Buy Swiss Wealth Manager Banque Thaler
Credit Agricole SA 's wealth management unit Indosuez has agreed to buy Banque Thaler, a Swiss private bank, according to a statement from the French lender on Friday. The deal would push Indosuez's total assets under management to almost €220 billion ($243 billion), the bank said in the statement. The deal, which is subject to regulatory approval and expected to complete in the second half of this year, would have a 'limited' impact on Credit Agricole's CET1 ratio, a measure of capital strength.
Bloomberg
02-04-2025
- Business
- Bloomberg
UniCredit Mulls Amundi Alternatives Amid Doubts Over BPM Backing
UniCredit SpA is assessing alternatives to a sales agreement with Credit Agricole SA 's funds unit amid signs that the French bank doesn't support the Italian lender's takeover bid for a smaller domestic rival, Banco BPM SpA. Italy's second-largest bank is analyzing options to replace Credit Agricole's asset manager Amundi SA when an existing sales partnership with the firm expires in about two years' time, people with knowledge of the matter said. They asked not to be identified discussing the private matter.
