Credit Agricole SA: ECB OKs 19.9% Banco BPM Stake
Crédit Agricole SA to Increase Stake in Banco BPM After ECB Approval
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Montrouge, France – April 2, 2025 – Crédit Agricole SA has received authorization from the European Central Bank (ECB) to increase its stake in Banco BPM up to 19.9%, the company announced Wednesday.
ECB Greenlights Increased Participation
The approval, granted on April 1, allows Crédit Agricole SA to cross the 10% ownership threshold in Banco BPM SPA, according to a statement. This follows an initial announcement made Dec. 6, 2024, outlining Crédit Agricole’s intentions.
Throughout the fourth quarter of 2024 and the first quarter of 2025, Crédit Agricole SA finalized additional instruments related to Banco BPM shares. The company now holds derivative positions representing 9.9% of Banco BPM’s capital.
Crédit Agricole SA intends to exercise its right to physical delivery of all banco BPM shares underlying the derivative positions. This action will result in Crédit Agricole SA holding 19.8% of banco BPM’s capital.
Strategic Alignment
The increased participation aligns with Crédit Agricole’s strategy as a long-term investor and partner with Banco BPM, as stated in the Dec. 6, 2024, press release.crédit Agricole SA clarified it does not intend to launch a public offer for Banco BPM’s capital.
Financial Impact
The company anticipates a limited impact on its CE ratio in the first quarter of 2025 due to the increased derivative product position related to Banco BPM capital.
However, the CE ratio of Crédit Agricole SA is projected to decrease by approximately 20 basis points in the second quarter of 2025. This is attributed to both the increased participation in Banco BPM and the impact of crossing the exemption threshold applicable to the deduction of notable participations in the financial sector.
Investor Relations Contacts
| Contact | phone | |
|---|---|---|
| Cécile Mouton | + 33 1 57 72 86 79 | cecile.mouton@credit-agricole-sa.fr |
| Institutional investors | + 33 1 43 23 04 31 | investor.relations@credit-agricole-sa.fr |
| Individual Investors | + 33 8 00 00 07 77 | relation@actionnaires.credit-agricole.com |
1 Subject to receiving the necessary authorization from the Italian Bank.
Crédit Agricole SA to Increase Stake in Banco BPM: Your Questions Answered
What’s the News?
What happened?
Crédit Agricole SA has received approval from the European Central Bank (ECB) to increase its stake in Banco BPM. This was announced on April 2, 2025.
What does this mean in simple terms?
Crédit agricole SA is now allowed to own a larger portion of Banco BPM, up to 19.9%.
The Details of the Deal
When did the ECB give its approval?
The ECB granted its approval on April 1, 2025.
When was this planned?
This move follows an initial proclamation made on December 6, 2024, outlining Crédit Agricole’s intentions.
How did Crédit Agricole SA acquire its current stake?
Crédit Agricole SA finalized additional instruments related to Banco BPM shares throughout the fourth quarter of 2024 and the frist quarter of 2025. Thay now hold derivative positions representing 9.9% of Banco BPM’s capital.
How will Crédit Agricole SA further increase its stake?
Crédit Agricole SA intends to exercise its right to physical delivery of all Banco BPM shares underlying the derivative positions. This will result in them holding 19.8% of Banco BPM’s capital.
Strategic Implications
Why is Crédit Agricole SA increasing its investment in Banco BPM?
The increased participation aligns wiht Crédit Agricole’s strategy as a long-term investor and partner with Banco BPM, according to their December 6, 2024 press release.
Does Crédit Agricole SA plan to acquire Banco BPM completely?
No. Crédit Agricole SA clarified that it does not intend to launch a public offer for Banco BPM’s capital.
Financial Impact & Considerations
What is the anticipated impact on Crédit Agricole SA’s CE ratio?
The company anticipates a limited impact on its CE ratio in the first quarter of 2025 due to the increased derivative product position related to Banco BPM capital. However, a decrease of approximately 20 basis points is projected for the second quarter of 2025, due to the increased participation and the impact of crossing the exemption threshold applicable to the deduction of notable participations in the financial sector.
Contact Data
Who can I contact for more information?
You can contact the following individuals for further details:
| Contact | Phone | |
|---|---|---|
| Cécile Mouton | + 33 1 57 72 86 79 | cecile.mouton@credit-agricole-sa.fr |
| Institutional investors | + 33 1 43 23 04 31 | investor.relations@credit-agricole-sa.fr |
| Individual Investors | + 33 8 00 00 07 77 | relation@actionnaires.credit-agricole.com |
1 Subject to receiving the necesary authorization from the Italian Bank.