Credit Agricole SA (ACA.FR) said on Monday that its wealth management subsidiary has completed the acquisition of Credit Industriel et Commercial's private banking operations in Singapore and Hong Kong.
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The takeover by Indosuez Wealth Management, which was first announced in July, will bring the company's total assets under management in Asia to about 12 billion euros ($14.27 billion), Credit Agricole said.
Credit Agricole didn't disclose a purchase price and said that the acquisition's overall impact on the group's common equity tier 1 ratio will be less than two basis points.
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(END) Dow Jones Newswires
December 04, 2017 01:35 ET (06:35 GMT)