- 3 min
As part of the development of its private banking activity, CAI announces the acquisition of IntesaBci Bank (Suisse)
Crédit Agricole Indosuez, a subsidiary of Crédit Agricole SA, announces the signing of heads of agreement for the acquisition of IntesaBci Bank (Suisse).
IntesaBci Bank (Suisse) is present in Zurich, Lugano and Geneva and currently manages over three billion Swiss francs in assets.
An agreement in principle was signed on 30 December 2002. The acquisition will be finalised as soon as all the regulatory authorities have given their approval and the merger between IntesaBci Bank (Suisse) and Crédit Agricole Indosuez (Suisse) S.A is expected to take place during the last quarter of 2003.
After the merger, Crédit Agricole Indosuez (Suisse) S.A, with over 25 billion Swiss francs in assets under management, will confirm its position as one of the leading foreign private banks in Switzerland and, more than ever, as a key element of Crédit Agricole Indosuez's International Private Banking activity, which is also present in Luxembourg and in the Principality of Monaco with Crédit Agricole Indosuez Luxembourg and Crédit Foncier de Monaco.
This acquisition is a part of the strategic development of Crédit Agricole Indosuez's International Private Banking activity and also strengthens the collaboration between Intesa group and Crédit Agricole group.