Home Finance French bank Credit Agricole to sell Credit du Maroc to Holmarcom

French bank Credit Agricole to sell Credit du Maroc to Holmarcom

by Enochadmin

A department of Credit score Agricole financial institution is seen in Warsaw, Poland, July 3, 2018. REUTERS/Marcin Goclowski

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PARIS, April 27 (Reuters) – French financial institution Credit score Agricole (CAGR.PA) mentioned it had agreed to promote 78.7% of its Moroccan banking unit Credit score du Maroc to the Moroccan firm Holmarcom, in a deal which it mentioned would increase the power of its stability sheet.

Credit score Agricole didn’t disclose monetary phrases of the sale, however mentioned the sale of the stake in Crédit du Maroc would have a constructive influence of round 10 foundation factors on its core tier one fairness (CET1) capital ratio.

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Reporting by Sudip Kar-Gupta. Modifying by Jane Merriman

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