France's Credit Agricole sold the first tranche of its majority stake in Credit du Maroc, the bank said on Wednesday, as part of a deal to transfer the unit to Morocco’s Holmarcom group. Crédit Agricole, in a first step, sold a 63.7% stake of the local bank to Holmarcom and it will sell a second tranche with a remaining 15% stake in 18 months, added the French bank.
Crédit Agricole S.A. effectively sold the first tranche of 63.7% of its stake in Crédit du Maroc to the Moroccan group, Holmarcom Montrouge, 7 December 2022 - Crédit Agricole S.A. announces that it effectively sold the first tranche of 63.7% of its stake in Crédit du Maroc to the Moroccan group, Holmarcom. According to the agreement, Crédit Agricole S.A. will sell the second tranche covering the remaining 15% to the Holmarcom group in 18 months. This transaction occurred after having obtained th
France's biggest retail lender Credit Agricole said on Tuesday it has stopped financing new oil extraction projects and laid out plans to cut emissions tied to loans to five of its high-polluting sectors. So far only a handful of banks including Britain's biggest domestic bank Lloyds and Dutch lender ING Groep NV have globally stopped lending to develop new oil fields. Credit Agricole also spelled out targets for emission cuts for its oil and gas, power, commercial real estate, automotive and cement sectors.