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Credit Agricole to Up Stake in Egyptian Subsidiary

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


(END) Dow Jones Newswires

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

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