In brief: BPCE formalizes the acquisition of Novo Banco

The French banking group BPCE has just formalized its acquisition of a majority share of Novo Banco, the Portuguese banking group. BPCE is part of the logical continuation of its Vision 2030 strategic plan and ambitions.

The acquisition of Novo Banco by BPCE from the Lone Star investment fund concerns 75% of the capital of the Portuguese bank by the French bank. Exclusive negotiations have just begun between the actors concerned, namely BPCE, Lone Star and the Portuguese authorities.

The operation represents an estimated EUR 6.4 billion.

Portugal would become the second largest domestic retail market in the BPCE group. Finalisation of the project is envisaged for the first half of 2026.

Consolidate its reference position

On the occasion of the announcement of this takeover, BPCE emphasises its status as a second French bank (taking into account the ranking of the Banque de France concerning the market share of outstanding loans in all non-financial customers combined) and fourth in Europe (according to the equity ranking).

This operation on Novo Banco is also part of the Vision 2030 strategy to consolidate the activities of the BPCE Group and is the result of the creation of BPCE Equipment Solutions, resulting from Acquisition Company General Equipment Finance (SGEF).

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