0806 GMT - Credit Agricole's return to Belgium could eventually ramp up competition in the country's banking sector, ING says in a research note. The French bank bought a 9.9% stake in Crelan, the Belgian lender it used to own half of, as part of a long-term partnership between the groups which both have roots in agricultural lending. "While it is early days, having a second French bank after BNP Paribas coming back to expand in Belgium could create at some point more sizeable competition, or a strong 5th larger bank," analyst Jason Kalamboussis writes. He notes that this time Credit Agricole has a stronger foothold in Belgium given its recent acquisition of wealth manager Degroof Petercam last year, which it is focused on integrating. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

May 23, 2025 04:06 ET (08:06 GMT)

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