BPCE Acquires 7% Stake in Spanish Bank Sabadell

BPCE, the second-largest banking group in France and the fourth-largest in the eurozone by shareholders’ equity, has acquired a 7% stake in Banco Sabadell, Spain’s fourth-largest bank. This acquisition, made through market purchases and financial instruments, marks a significant step in BPCE’s strategy to diversify its presence in Europe and aligns with its Vision 2030 strategic plan.

Nicolas Namias, CEO of BPCE, expressed that the investment is fully in line with the group’s vision.

Banco Sabadell, with assets totaling €200 billion, is known for its strong positions in SME financing and relationship banking. The bank serves seven million customers and operates a network of 1,116 branches across Spain, supported by a workforce of 13,850 employees. As of the first half of 2026, the bank reported an attributable net profit of €971 million, while maintaining a strong capital position and delivering attractive shareholder returns.

BPCE intends to be a stable and long-term shareholder and to be represented on the board of directors of Sabadell. The acquisition does not intend for BPCE’s shareholding in Sabadell to exceed 9.9%. With Sabadell’s support, BPCE will initiate the steps and discussions required with the Spanish and European supervisory authorities in connection with the appointment of a director to Sabadell's board, subject to applicable governance procedures and required approvals.

The two banks also plan to explore strategic cooperation opportunities, particularly in corporate and investment banking, equipment leasing, consumer credit, and cross-border clients business. These discussions, which the parties expect to conclude in early 2027, will aim to identify areas where cooperation could support Sabadell's development in Spain while further strengthening BPCE’s European footprint.

Groupe BPCE, the parent company of BPCE, is a cooperative group serving the real economy, supporting 36 million clients worldwide, backed by the commitment of its 110,000 employees. In France, Groupe BPCE relies on its major local banking networks, Banque Populaire and Caisse d’Epargne, both deeply rooted in their regions, as well as with Palatine. It operates across the full spectrum of banking and insurance activities, including novobanco in Portugal, BPCE Equipment Solutions, and Oney, a major player in retail consumer finance. Internationally, the group leverages its expertise in corporate and investment banking through Natixis CIB and in asset management through Natixis IM.

This strategic move by BPCE is expected to bring together the strengths of both institutions, creating promising opportunities for cooperation and value creation for their respective clients and the Spanish economy.