Credito Emiliano communicated, through a note released by the company, that it has signed an agreement with Bnp Paribas for the sale of custodian bank and paying agent activities in Italy. The provisional sale price, established on the data of the end of 2011, stands at 35 million euros, while the definitive one will be determined according to the assets when the agreement will be finalized, in the second half of 2012.
By selling this branch of the company, the note reads, Credem intends to concentrate its core commercial banking business, while Bnp Paribas strengthens its leadership in securities custody and settlement services.
