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Credit Agricole Agrees to Sell Romanian Subsidiary

   By Mauro Orru 
 

Credit Agricole SA said Monday that it has signed an agreement to sell its Romanian subsidiary Credit Agricole Bank Romania SA to Romanian bank Vista Bank Romania SA.

The French bank didn't disclose financial details, but said the transaction wouldn't have a "significant impact" on its solvency ratios.

The deal is expected to be completed in the first half of 2021, subject to clearance from the National Bank of Romania and the Romanian Competition Council, Credit Agricole said.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

January 04, 2021 12:09 ET (17:09 GMT)

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