BPCE acquires 7% stake in Spain’s Banco Sabadell

France's BPCE has acquired a roughly 7% stake in Spain's Banco Sabadell, reigniting interest in cross-border consolidation within the Spanish banking sector, according to statements released on Tuesday. The acquisition, made through market purchases and financial instruments, is set to be a long-term investment for BPCE. The French banking group plans to seek a seat on Sabadell's board, pending regulatory and governance approvals.

While BPCE does not intend to increase its stake beyond 9.9%, the two banks will explore cooperation in various areas, including corporate and investment banking, equipment leasing, consumer finance, and services for cross-border clients. Discussions on these potential collaborations are expected to wrap up in early 2027. This investment comes in the wake of Sabadell's successful defense against a hostile takeover attempt by BBVA, which was ultimately abandoned following a shareholder vote rejecting the offer.

BPCE, France's second-largest banking group, already has a presence in Portugal through novobanco and operates equipment-leasing and consumer-finance businesses across Europe. Banco Sabadell had €200 billion in assets and reported an attributable net profit of €971 million in the first half of 2026.