Credit Agricole will decide in the coming weeks whether to participate in UniCredit's public exchange offer (Ops) for Banco BPM.
This was announced during a call by outgoing CEO Philippe Brassac, who noted that Credit Agricole maintains both direct and indirect partnerships with the two banks involved.
"We are waiting to see all the terms underlying this consolidation equation so that, in a few weeks, Credit Agricole can make a decision," Brassac stated.
The French bank reported a 4.2% year-on-year decline in net profit for the first quarter, down to €1.82 billion, following a sharp increase in government taxes.
(Reporting by Antonella Cinelli, editing by Stefano Bernabei)
