By Pierre Bertrand

 

Credit Agricole SA said late Wednesday that it intends to increase its ownership of its Egyptian subsidiary.

The French bank will add a stake of around 4.8% in Credit Agricole Egypt in a deal that it said reflected its confidence in the development and performance of the business.

The acquisition will have no impact on the CET1 ratio--a measure of a bank's resilience--of Credit Agricole, it said..

Credit Agricole currently owns around 60% of Credit Agricole Egypt.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

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

Copyright (c) 2022 Dow Jones & Company, Inc.
Credit Agricole (EU:ACA)
Gráfica de Acción Histórica
De Oct 2022 a Nov 2022 Haga Click aquí para más Gráficas Credit Agricole.
Credit Agricole (EU:ACA)
Gráfica de Acción Histórica
De Nov 2021 a Nov 2022 Haga Click aquí para más Gráficas Credit Agricole.