Furthermore, the partnership between Compte-Nickel and the Confédération des Buralistes de France has been extended for a period of 10 years.
On 12 July 2017, in accordance with the Memorandum of Understanding signed on 4 April 2017, with all necessary authorisations from the regulatory bodies, the bank has completed the acquisition of 89.1% of Compte-Nickel, and inteds to increase its holding in the company to 95% by the end of 2017. The Confédération des Buralistes de France will retain a 5% stake in Compte-Nickel.
Through this acquisition, the France-based bank completes its offer dedicated to new banking usage in the country, providing its branch network and the digital services (offered by the French Retail banking) a set of solutions adapted to client needs.
The acquisition will have a negligible impact on the Group’s Common Equity Tier 1 ratio, according to the bank’s press release.
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