Finance
Credit Agricole CEO rules out selling Italian subsidiary for cash
Published by Global Banking and Finance Review
Posted on November 18, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 18, 2025
1 min readLast updated: January 21, 2026
Credit Agricole's CEO rules out selling its Italian unit for cash, but is open to a merger with Banco BPM, highlighting commitment to Italy.
PARIS (Reuters) -Credit Agricole SA is ruling out any sale of its Italian subsidiary for cash, the French bank's boss said on Tuesday, as it considers a potential tie-up with Italian peer Banco BPM.
"If we were to be approached by Banco BPM for a combination, we would view this very favourably," Olivier Gavalda said on the company's investor day. "But in no case would we accept to sell Credit Agricole Italy for cash. We are a long-standing player in Italy, and we are committed to continue supporting our 6 million Italian customers."
(Reporting by Mathieu Rosemain, Editing by Charlotte Van Campenhout)
A subsidiary is a company that is completely or partially owned by another company, known as the parent company. Subsidiaries operate independently but are controlled by the parent company.
Customer commitment is the emotional or psychological attachment a customer has to a brand or company, often leading to loyalty and repeated business.
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