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Crédit Agricole S.A. — M&A Activity 2018
Mar 7, 2018
1236_iss_2018-03-07_77d79e9b-ef53-4da2-9082-ad1b7d755c63.pdf
M&A Activity
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Massy, 7 March 2018.
Crédit Agricole Consumer Finance and Bankia: exclusive negotiations aiming to set up a partnership in consumer finance in Spain
Crédit Agricole Consumer Finance, a leading consumer finance group in Europe, and Bankia, the fourth largest bank in Spain, announce their entry into exclusive negotiations aiming at establishing a joint-venture in the consumer finance business.
For Crédit Agricole Consumer Finance, this partnership aims at accelerating the setting up of its presence in Spain, the fourth largest consumer finance market in the Eurozone, thanks to the network of the fourth Spanish bank and its universal multichannel model. It will provide Bankia with a subsidiary dedicated to consumer finance and add a growth market to its portfolio of business activities in Spain, by benefitting from the experience in this type of partnership of Crédit Agricole Consumer Finance, one of the European leaders in consumer finance.
CA Consumer Finance Press office: +33 (0)1 60 76 93 99 / 88 60 - [email protected]
Bankia Press office:
Bankia Comunicación ([email protected]) Virginia Zafra +34 91 423 51 04 / 690 047 723 - [email protected] Mariano Utrilla +34 91 423 94 72 / 691 827 401 - [email protected] Guillermo Fernández +34 91 423 53 33 / 681 349 040 - [email protected]
About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, Crédit Agricole SA's consumer credit subsidiary, distributes a broad range of consumer credit and related services (in France, principally through its commercial trademarks Sofinco, Viaxel and Creditlift Courtage) for distribution channels as a whole: direct sales, point-of-sale financing (automotive and home appliances) and partnerships. Present alongside major distribution, specialised distribution and institutional brands in the various countries where it operates, Crédit Agricole Consumer Finance is a key partner in business.
Crédit Agricole Consumer Finance managed 82.6 billion euros in outstanding loans at 31 December 2017.
Learn more: www.ca-consumerfinance.com
About Bankia
Bankia is a Spanish bank that is included in the Ibex 35. It operates throughout Spain serving 8 million clients, with a universal banking business model based on multi-channel management and specialized in serving individuals and businesses.
Learn more: http://www.bankia.com