June 16, 2017 / 4:01 AM / 3 months ago

Indosuez in exclusive talks for CIC's private banking in Singapore, HK

PARIS, June 16 (Reuters) - 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

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