Montrouge,
Crédit
On
The “Switch” guarantee mechanism corresponds to a transfer to the Regional Banks of a share of the regulatory requirements that apply to Crédit
The partial unwinding of this intragroup transaction is a new step towards the simplification of the solvency structure of Crédit Agricole S.A. It strengthens the net income generation capacity of Crédit Agricole S.A., with an accretive impact on the net income Group share of 58 million euros in 2020 and roughly 70 million euros in full year.
The impact of this transaction on the CET1 ratio of Crédit
This transaction will have no impact on the results nor on the solvency ratios of Crédit Agricole Group.
Crédit Agricole S.A. press contacts
Olivier Tassain + 33 (0)1 43 23 25 41 olivier.tassain@credit-agricole-sa.fr
All our press releases are available at: www.credit-agricole.com – www.creditagricole.info
1 The transaction is subject to the audit of the absence of decrease of the equity-accounted value of insurance during the second semester 2019, this will be performed in the disclosure of the 2019 financial statements.
Attachment
- CP CASA_Switch_EN_20200115
© OMX, source