|Montrouge, 17 October 2022|
CACEIS and Royal Bank of Canada have signed a Memorandum
of Understanding on the potential acquisition of RBC Investor Services operations in Europe
CACEIS and Royal Bank of Canada have signed on the 14th of October a Memorandum of Understanding on the potential acquisition by CACEIS of RBC Investor Services operations in Europe.
This transaction would further enhance CACEIS’ positioning as a global leader in asset servicing in Europe and worldwide with circa €4.8 trillion in Assets under Custody and €3.5 trillion in Assets under Administration (figures as of 31/03/2022) after its completion(*) which is expected to take place by the end of the third quarter of 2023.
This transaction would be in line with the Group’s development objectives and would respect our profitability criteria with an expected return on investment of more than 10% over 3 years thanks to the realisation of synergies. It would have a negative impact of less than 10 basis points on Crédit Agricole S.A.’s CET1 and Crédit Agricole Group’s CET1 (figures as of 30/06/2022).
(*) The signature of the final agreements between CACEIS and Royal Bank of Canada requires prior consultation with the relevant works councils and the completion of the contemplated transaction will be subject to customary closing conditions, including applicable regulatory approvals.
CRÉDIT AGRICOLE S.A. PRESS CONTACTS
See all our press releases at: www.credit-agricole.com — www.creditagricole.info
The content is by GlobeNewswire. DKODING Media is not responsible for the content provided or any links related to this content. DKODING Media is not responsible for the correctness, topicality or the quality of the content.