trending Market Intelligence /marketintelligence/en/news-insights/trending/wod3yhmfzoidcbvged-o0q2 content esgSubNav
In This List

Report: France's Crédit Agricole backs Creval's management

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A


Report: France's Crédit Agricole backs Creval's management

The head of Crédit Agricole Group's Italian unit said the bank supports Credito Valtellinese SpA's top managers despite one of its shareholders calling for them to be replaced, Reuters reported.

Crédit Agricole agreed in July to acquire a 5% stake in Creval to gain access to the lender's distribution network.

Ariberto Fassati, chairman of the French lender's business in Italy, said it had a "totally positive" view of Creval's top managers, even though shareholder Denis Dumont wants the board to be replaced.

Creval will hold a shareholder meeting on Oct. 12 to vote on Dumont's proposal to appoint a new board. Dumont holds 5.78% of Creval's share capital.