By Anthony Shevlin

Credit Agricole SA (ACA.FR)'s consumer credit subsidiary Credit Agricole Consumer Finance said Wednesday that it is in exclusive negotiations with Bankia SA (BKIA.MC) aimed at establishing a joint-venture in the consumer finance business.

Credit Agricole Consumer Finance said the partnership aims to accelerate the setting up of its presence in Spain thanks to Bankia's network and its universal multi-channel model.

Credit Agricole Consumer Finance said it will provide Bankia with a subsidiary dedicated to consumer finance and add a growth market to its portfolio of business activities in Spain.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

March 07, 2018 13:02 ET (18:02 GMT)

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