Crédit Agricole: signs agreement with Banco BPM
(CercleFinance.com) - Crédit Agricole Consumer Finance and Banco BPM announce that, three months ahead of schedule, they have signed a definitive agreement to strengthen their global partnership on the Italian consumer credit market for the next fifteen years.
Agos has therefore recently acquired ProFamily Spa, a subsidiary of Banco BPM that will be renamed ProAgos SpA once the non-banking activity has been regrouped into a distinct entity, for a total of 310 million euros.
In addition, this joint venture (61%-owned by CACF and 39%-owned by Banco BPM) will increase the distribution of its products to Banco BPM's entire network (1,750 branches) under an exclusive 15-year agreement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Agos has therefore recently acquired ProFamily Spa, a subsidiary of Banco BPM that will be renamed ProAgos SpA once the non-banking activity has been regrouped into a distinct entity, for a total of 310 million euros.
In addition, this joint venture (61%-owned by CACF and 39%-owned by Banco BPM) will increase the distribution of its products to Banco BPM's entire network (1,750 branches) under an exclusive 15-year agreement.
Copyright (c) 2019 CercleFinance.com. All rights reserved.