Crédit Agricole S.A. has finalised its acquisition of Natixis’ 15% stake in CACEIS. As a result, it now controls 100% of the share capital of CACEIS.
With approximately 2.6 trillion euros in assets under custody, 1.7 trillion euros in assets under administration and a presence in nine European countries, CACEIS is one of the industry's leading players in Europe.
Backed by strong momentum on the equity markets, CACEIS, which is already showing strong growth, is attracting new customers as it expands its product range. This acquisition will reinforce the benefits of integrating CACEIS into Crédit Agricole S.A. group's Large Customers business line. The anticipatedgradual normalisation of the interest rate environment should support this subsidiary’s activity in the coming years.
In parallel with this transaction, CACEIS consolidates its position as top-tier partner of both BPCE Group and Crédit Agricole Group, France's two leading players in insurance and asset management, by expanding its partnership in financial services with BPCE Group in France and Luxembourg.
This transaction will be accretive to the earnings of Crédit Agricole Group and Crédit Agricole S.A. as of 2018. It will have a negative impact of approximately -10 basis points on the fully-loaded CET1 ratio of Crédit Agricole S.A. and of around -5 basis points on that of Crédit Agricole Group.