Bpce: BPCE and Banco Sabadell announce BPCE’s friendly acquisition of a participation in Banco Sabadell and their intention to explore strategic cooperation

BPCE and Banco Sabadell announce BPCE’s friendly acquisition of a participation in Banco Sabadell and their intention to explore strategic cooperation

Sabadell and Paris, 6 October 2026

BPCE has acquired a stake equivalent to approximately 7% of the share capital of Banco de Sabadell, S.A. (“Sabadell”) through market purchases and financial instruments. BPCE and Sabadell wish to underline the friendly nature of this equity investment, with BPCE intending to be a stable and long-term shareholder and to be represented on the board of directors of Sabadell, the fourth-largest Spanish bank, which holds leading positions in SME financing. The parties are also willing to explore strategic cooperation to make BPCE’s capabilities available to Sabadell’s clients and to create additional value together.

“BPCE 's investment in Sabadell is fully in line with its Vision 2030 strategic plan. It marks a further step in its ambition to develop and diversify its presence in Europe. It reflects our confidence in Sabadell’s management, strategy and long-term potential”, said Nicolas Namias, CEO of BPCE. “We share a strong belief in the importance of having deep roots in the communities and markets where we operate, serving our clients and supporting the real economy. Sabadell’s leading positions in Spain, combined with Groupe BPCE’s expertise and international capabilities, create promising opportunities for cooperation and value creation for our clients and the Spanish economy”.

Banco Sabadell Chairman, Josep Oliu, stated: "We are very pleased to welcome BPCE as a shareholder of our institution. Their decision to invest in our company is a recognition of the strength of our standalone project, the work carried out by our professionals, and the growth opportunities that lie ahead. Their presence reinforces the strength and stability of our shareholder base. "

Marc Armengol, Chief Executive Officer of Banco Sabadell, said: "This transaction strengthens our ability to continue executing our strategic plan and generating sustainable long-term value. The investment of BPCE brings us a partner with a long-term vision and extensive experience, which we believe can complement our capabilities and help us successfully seize the opportunities presented by the market. "

Following this acquisition, BPCE has become a strategic shareholder for Sabadell. BPCE, the second-largest banking group in France and the fourth largest in the eurozone by shareholders’ equity, and Sabadell, the fourth-largest Spanish bank, are leading players in their respective markets.
  
BPCE is fully supportive of Sabadell’s strategy and growth plans, as well as its management team, which has successfully led a remarkable transformation of the bank. BPCE does not intend for its 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.

BPCE and Sabadell intend to explore business cooperation opportunities, in particular 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. BPCE and Sabadell will inform the market, in accordance with applicable regulations, of any material development in these discussions.

About Groupe BPCE

Groupe BPCE is the second-largest banking group in France and the fourth largest in the euro zone by capital. A cooperative group serving the real economy, it supports 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. In Europe, it supports its clients through novobanco, the fourth-largest bank in Portugal, through BPCE Equipment Solutions, the European leader in equipment leasing, and through 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.

Groupe BPCE draws on its diverse business lines to provide local, accessible solutions for all and to help deliver a lasting positive impact. Its financial strength is recognized by four credit rating agencies: Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook), Moody’s (A2, stable outlook) and R&I (A+, stable outlook).

About Banco Sabadell

Banco Sabadell is Spain’s fourth-largest financial institution, with assets totaling €200 billion. The bank specializes in relationship banking, providing financial services to corporations, SMEs, self-employed professionals, and individual customers. With more than 140 years of history, the institution pursues a strategy focused on profitable growth, innovation, digital transformation, and supporting businesses and families in achieving their financial goals.

Banco Sabadell 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 end of the first half of 2026, the bank reported attributable net profit of €971 million, while maintaining a strong capital position and delivering attractive shareholder returns.

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