Credit Agricole mulls Saudi bank stake sale

Credit Agricole SAis considering a sale of its 31 per cent stake in Saudi Arabian lender Banque Saudi Fransi, in a deal that could potentially fetch about US$2.4 billion (RM10.69 billion), said people familiar with the matter. The bank is speaking to advisers to find buyers, said the people. The stake may attract both international and regional lenders who are seeking an entry into the kingdom, one person said. A formal process hasn’t started and the bank may still decide against the sale, said sources.