Paris, 14 June 2012
- On Thursday June 14th, Crédit Agricole SA announced the signature of an agreement for the purchase of Emporiki Bank Albania, from Emporiki Bank Greece, its wholly-owned company. This operation is subject to the approval of Albanian Central Bank.
This take-over is the last step of a process developed since beginning of 2009, in order to reinforce links between Crédit Agricole S.A and Emporiki Group‘s subsidiaries. During the last three years - and as a result of its progressive integration in Crédit Agricole SA Group - , Emporiki Bank Albania adopted its risks and compliance procedures, its management standards, its IT systems, as well as in its name, an explicit reference to Crédit Agricole brand.
This intra-group transaction which strengthens the existing relationships of Emporiki Bank Albania with Crédit Agricole, is totally transparent for its customers, as Emporiki Bank Albania already takes advantage from a direct Crédit Agricole Group funding access.
After the closing of this operation, Emporki Bank Albania will adopt Crédit Agricole’s name with its commercial trademark and logo.
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