Credit Agricole to seek ECB approval to go over 20% shareholding in Banco BPM

French bank Credit Agricole ACA said on Friday it had filed a request with the European Central Bank (ECB) seeking the ECB's approval for Credit Agricole to go above the 20% shareholding level in Italy's Banco BPM BAMI.

"The Board of Directors of Crédit Agricole S.A. has approved to file an authorization request with the ECB to cross 20% in the share capital of Banco BPM S.p.A.," it said.

The French bank currently holds 19.8% of Banco BPM BAMI, and Credit Agricole reiterated it did not plan to buy or exercise control of Banco BPM.