PARIS, June 16 Indosuez Wealth Management, the
international private banking arm of France's Credit Agricole
, said on Friday it had started exclusive discussions
to acquire the private banking activities of CIC bank in
Singapore and Hong Kong.
The transaction, expected to be finalised by the end of the
year, would have a negative effect below 2 basis points on the
fully loaded common equity tier 1 ratio of Credit Agricole S.A.
and Credit Agricole Group, Indosuez said.
(Reporting by Maya Nikolaeva; Writing by Matthias Blamont;
Editing by Richard Lough)