Banco Santander (ES:SAN) has released an update.
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Banco Santander has announced its agreement to sell a 30.5% stake in CACEIS to Crédit Agricole, allowing Crédit Agricole to gain full control of CACEIS. This strategic move aims to enhance Santander’s capital management, potentially increasing its CET1 ratio by 10 basis points, without significantly impacting earnings. The transaction is expected to close in 2025, pending regulatory approvals.
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