France 2nd Largest Banking Group BPCE to Buy Portugal 4th Largest Bank Novobanco for $7.4 Billion (€6.4 Billion) Including 75% Stake from United States Private Equity Firm Lone Star, Novobanco Has 9% Market Share of Portugal Individual Customers with 1.7 Million, 14% Corporate Clients & Manages €17 Billion Corporate Loan Book, Group BPCE (Banque Populaire Caisse d’Epargne) Formed in 2009 Merger of Caisse d’Épargne & Banque Populaire, Subsidiaries Include Natixis, Crédit Foncier & Banque Palatine
15th June | Hong Kong
France 2nd largest banking group BPCE has announced to buy Portugal 4th largest bank Novobanco for $7.4 billion (€6.4 billion), including the 75% stake from United States private equity firm Lone Star. Novobanco has a 9% market share of Portugal individual customers with 1.7 million customers, 14% of corporate clients market share & manages €17 billion corporate loan book. Group BPCE (Banque Populaire Caisse d’Epargne) was formed in 2009 with merger of Caisse d’Épargne & Banque Populaire. Group BPCE subsidiaries include Natixis, Crédit Foncier & Banque Palatine. Announcement (13/6/25): “Groupe BPCE has signed on the 13th of june 2025 a Memorandum of Understanding for the acquisition of a 75% equity interest in novobanco, Portugal’s fourth-largest bank, from the private equity firm Lone Star Funds. The transaction, representing a cash amount of approximately €6.4bn (for 100% of the shares), is the biggest cross-border acquisition in the euro zone for more than 10 years. Following the creation of BPCE Equipment Solutions at the start of the year, this project marks a new key stage in the execution of the VISION 2030 strategic plan, geared to developing and diversifying BPCE in France, Europe and the wider world. On completion of the transaction, Portugal would become the Group’s second-largest domestic retail market. Novobanco, Portugal’s fourth-largest bank with market shares of 9% with individual customers and 14% with company clients, has 1.7 million individual customers and manages a €17bn corporate loan book. With its 4,200 employees, novobanco operates through some 290 branches and an extensive network of external partners, while also offering a rich customer experience through its digital channels. In recent years, novobanco has become one of the most profitable banks in Europe, posting a cost-income ratio under 35% and a return on tangible equity (RoTE) exceeding 20%. The acquisition of novobanco would help diversify BPCE in two respects: geographically, via access to a dynamic economy, and in balance sheet terms, by increasing the proportion of variable-rate loans on its balance sheet, thus improving its revenue profile. The transaction marks a new key stage in the Group’s European-scale growth, following the creation of BPCE Equipment Solutions in February 2025 and the ongoing project to create the leading European asset manager in partnership with Generali. On completion of the transaction, Groupe BPCE’s CET1 ratio would remain above 15%. BPCE will proceed with the necessary consultations with employee representative bodies in order to sign the acquisition contract. The project is projected for completion in the first half of 2026.” Profile – Groupe BPCE, at the service of its customers and the French economy. Groupe BPCE pursues a full range of banking and insurance activities, working through its two major Banque Populaire and Caisse d’Epargne cooperative banking networks and through its different subsidiaries. Groupe BPCE, the 2nd largest banking group in France, has put down deep roots in its local markets. Its 117,000 employees serve a total of 36 million customers, 8.6 of whom have decided to become cooperative shareholders. The Group’s different subsidiaries pursue their activities in banking and insurance, tailoring their services as closely as possible to the needs of the individuals and regions they serve. With a total of 19 Banque Populaire banks, 17 Caisses d’Epargne, Natixis, Crédit Foncier, Banque Palatine, etc., Groupe BPCE offers its customers a comprehensive range of products and services: savings and investment solutions, cash management services, financing solutions, insurance, and wholesale banking services. Faithful to its status as a cooperative banking institution, the Group accompanies its customers in the realization of their different projects and develops long-lasting relationships with them, thereby contributing 20% to the drive to finance the French economy.
“ France 2nd Largest Banking Group BPCE to Buy Portugal 4th Largest Bank Novobanco for $7.4 Billion (€6.4 Billion) Including 75% Stake from United States Private Equity Firm Lone Star, Novobanco Has 9% Market Share of Portugal Individual Customers with 1.7 Million, 14% Corporate Clients & Manages €17 Billion Corporate Loan Book, Group BPCE (Banque Populaire Caisse d’Epargne) Formed in 2009 Merger of Caisse d’Épargne & Banque Populaire, Subsidiaries Include Natixis, Crédit Foncier & Banque Palatine “
France 2nd Largest Banking Group BPCE to Buy Portugal 4th Largest Bank Novobanco for $7.4 Billion (€6.4 Billion) Including 75% Stake from United States Private Equity Firm Lone Star, Novobanco Has 9% Market Share of Portugal Individual Customers with 1.7 Million, 14% Corporate Clients & Manages €17 Billion Corporate Loan Book, Group BPCE (Banque Populaire Caisse d’Epargne) Formed in 2009 Merger of Caisse d’Épargne & Banque Populaire, Subsidiaries Include Natixis, Crédit Foncier & Banque Palatine
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