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Credit Agricole Raises Stake in Italy's Banco BPM to 29.3%

Provided by Dow Jones Jul 6, 2026, 6:06:00 AM

By Aimee Look

Credit Agricole said it increased its stake in Italy's Banco BPM to 29.3%, in a bid to bolster its foothold in Italy.

The French bank said it accumulated its stake in Banco BPM through market purchases of shares and a derivative instrument.

In its first quarter results in April, Credit Agricole said it had a 22.9% stake in the Italian lender.

The increased stake is part of Credit Agricole's broader commitment to a presence in the Italian market, it said. It is consistent with its strategy as a long-term investor and partner with the Italian bank, it added.

The added stake is expected to lower Credit Agricole's CET 1 ratio by around 35 basis points by the end of the second quarter of 2026, it said.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

July 06, 2026 02:06 ET (06:06 GMT)

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