Overview
- BPCE completed the purchase of 100% of novobanco from the Portuguese State, the Resolution Fund, and Lone Star Funds for €6.7 billion.
- The total price rose from €6.5 billion set at year‑end 2025 after novobanco increased its equity in early 2026.
- Governance changes start as BPCE adds three Supervisory Board members and confirms Mark Bourke as CEO reporting to BPCE’s Jacques Beyssade.
- An integration team led by Olivier Delay has begun work as BPCE positions Portugal as its second domestic market and diversifies into more variable‑rate lending.
- The deal expands BPCE’s footprint to nearly 8,000 employees in Portugal and strengthens SME financing through novobanco’s roughly 300‑branch network.