Crédit Agricole SA will continue to strengthen Caceis’ position as one of the major European players in asset servicing, supporting its clients’ business development objectives.
Crédit Agricole SA and Santander have entered into an agreement for the acquisition of the Spanish bank's 30.5% stake in Caceis, its asset servicing provider. Following the envisaged transaction, Crédit Agricole SA will control 100% of the share capital of Caceis.
Recently, Caceis has experienced robust growth and the recent addition of RBC Investor Services' operations in Europe has allowed the company to expand its client base and product range.
After this transaction, Caceis and Santander will maintain their long-term partnership and their Latin American operations will remain jointly controlled. The transaction is subject to closing conditions, including regulatory approvals, and is
expected to take place during 2025.
The transaction is consistent with Crédit Agricole Group's ROI and return on tangible equity and will have a negative impact of approximately 30 basis points on the fully-loaded CET1 ratio of Crédit Agricole SA.