By Helena Smolak

Credit Agricole said it acquired a 7% minority interest in joint-venture partner Worldline in a move aimed at bolstering the French payments company's position as a key European payment services provider.

The French lender said Monday that the transaction is expected to have an impact of less than 10 basis points on its common equity Tier 1 ratio, a key metric to measure a bank's capital against its assets.

The move builds on a partnership agreement announced in July, Credit Agricole said.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

January 22, 2024 01:37 ET (06:37 GMT)

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