Today, February 25 2019, we announced that KAS BANK reached agreement with CACEIS, part of Crédit Agricole S.A., on a recommended offer by CACEIS on all KAS BANK shares. By teaming up we will increase our competitive strength and enhance our investment and innovation power. In this video we would like to elaborate on how our clients will benefit from the combination.
25 Feb 2019
CACEIS is acquiring KAS BANK because of our people, our services and our knowledge of the institutional market. KAS BANK will become the Dutch branch of CACEIS. Additionally, KAS BANK will become the global centre of excellence for pension fund services of the group.
The benefits of combining the business are as follows:
- CACEIS, part of Crédit Agricole, is a European leader in asset servicing and one of the largest players in the world. On 31 December 2018, CACEIS had EUR 2.6 trillion of assets under custody.
- We are complementary, with both companies involved in the same activities in different markets, focusing on financial institutions and the development of new technologies and digital processes.
- The acquisition by CACEIS will offer us critical size in terms of balance sheet, enabling KAS BANK to accelerate its ambitions to become a modern administration bank.
We will keep our stakeholders informed on the progress throughout the process and will provide updates if anything were to change after the closing of the offer. Closing is expected in the third quarter of 2019.
Read our joint press release!
“This is an important step for KAS BANK and I look forward to contributing our years of experience, innovations and local knowledge of the industry to the new combination in order to better service our clients in the future.”Sikko van Katwijk