Crédit Agricole: to strengthens partnership in Italy

(CercleFinance.com) - Crédit Agricole Consumer Finance and Banco BPM, the third largest Italian bank, have announced that they have signed an irrevocable Memorandum of understanding to strengthen their global partnership on the Italian consumer credit market for the next fifteen years.


This transaction will strengthen Agos' leading position: the agreement provides for Agos' acquisition of Profamily SpA, a subsidiary of Banco BPM that specialises in consumer credits, which are distributed in the BPM network, totalling 310 million euros.

Agos, whose shareholding structure will remain unchanged, will extend the distribution of its products to the Banco BPM network and distribution channels, including 2,300 branches, under an exclusive 15-year agreement applicable once the transaction is finalised.



Copyright (c) 2018 CercleFinance.com. All rights reserved.