Crédit Agricole will incorporate all of Cassa di Risparmio della
Spezia’s branches into its Italian business within the next few
months, increasing its Italian retail client base by a quarter.
Crédit Agricole Italian unit Cariparma Crédit Agricole’s branch
network will increase by 172 outlets and have a total of 902
branches across Italy.
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Of these 172 branches, 76 will be from Cassa di Risparmio della
Spezia and another 96 by Intesa Sanpaolo.
It will become the seventh biggest bank in Italy with 1.8m
clients.
Crédit Agricole finalised the acquisition of Intesa Sanpaolo’s
79.9% stake in its subsidiary Cassa di Risparmio della Spezia last
week.
The acquisition is part of Crédit Agricole’s expansion strategy
in Italy.
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