Santander: CACEIS to acquire RBC business in Europe

(CercleFinance.com) - Crédit Agricole announces that CACEIS, its joint venture with Santander, on 14 October signed a Memorandum of Understanding regarding the acquisition of the Royal Bank of Canada's asset servicing business in Europe.


This transaction would allow CACEIS to strengthen its asset servicing position, with approximately 4,800 billion euros of assets under custody and 3,500 billion euros in assets under administration (figures as at 31 March 2022).

The transaction, subject to the usual pre-conditions, could be realised by the third quarter of 2023. It will have a negative impact lower than 10 basis points on Crédit Agricole SA's CET1.

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