Credit Agricole agrees Bulgaria unit sale

PARIS Wed Jan 22, 2014 2:39am EST

Related Topics

PARIS Jan 22 (Reuters) - Credit Agricole said on Wednesday it agreed to sell its Bulgaria division to Bulgarian bank Corporate Commercial Bank AD.

The French bank said the sale would lead to a 160 million euro ($217 million) reduction in its risk-weighted assets while lowering its solvency ratios by less than 1 basis point.

The transaction still requires approval from regulators and consultation with staff representatives, Credit Agricole added. ($1 = 0.7383 euros) (Reporting by James Regan; Editing by Blaise Robinson)