Crédit Agricole has finalised its acquisition of Natixis’ 15 per cent stake in CACEIS. As a result, it now controls 100 per cent of the share capital of the business.
With approximately EUR2.6 trillion in assets under custody, EUR1.7 trillion euros in assets under administration and a presence in nine European countries, CACEIS is one of the industry’s leading players in Europe.
Crédit Agricole believes CACEIS will benefit from integration with its Large Customers business line and that the anticipated gradual normalisation of the interest rate environment should support the subsidiary’s activity in the coming years.
In parallel with this transaction, CACEIS consolidates its position as top-tier partner of both BPCE Group and Crédit Agricole Group, France’s two leading players in insurance and asset management, by expanding its partnership in financial services with BPCE Group in France and Luxembourg.
This transaction will be accretive to the earnings of Crédit Agricole Group and Crédit Agricole as of 2018. It will have a negative impact of approximately -10 basis points on the fully-loaded CET1 ratio of Crédit Agricole and of around -5 basis points on that of Crédit Agricole Group.
