Banco Santander has entered into an agreement to sell its 30.5% stake in CACEIS to Crédit Agricole S.A. The transaction will enable Crédit Agricole S.A. to gain full control of CACEIS, a prominent entity in the depositary, custody, and related asset servicing business.
This deal aligns with Santander’s strategy to proactively allocate capital and create shareholder value.
Upon completion, the transaction is expected to have a positive impact of approximately 10 basis points on Santander Group’s fully loaded CET1 ratio, though it will not significantly affect the Group’s earnings or earnings per share. The deal is anticipated to conclude in 2025, pending regulatory approvals and customary closing conditions.
Importantly, the joint business between Santander and CACEIS in Latin America, which focuses on depositary, custody, and related asset servicing, will remain under joint control and is not part of this transaction.