Credit Agricole Sizing Up Opportunity for Growth in Asia
- Would consider expanding presence, Deputy CEO Musca says
- Asia accounted for less than 5% of bank’s 2016 revenue
Credit Agricole Sees Huge Asia Growth Potential
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Credit Agricole SA, France’s second-largest bank, is considering expanding its presence in Asia to tap the region’s “huge potential” for growth, Deputy Chief Executive Officer Xavier Musca said.
The lender has opened a representative office in Indonesia and is increasing its asset-management footprint through the purchase of Pioneer Investments by Amundi SA, the investment firm controlled by Credit Agricole, Musca said in a Bloomberg Television interview from Singapore.