French banking group Banque Populaire Caisse d’Epargne (BPCE) plans to increase its stake in Banco Sabadell to 9.9 percent, according to an agreement announced 11 days ago. The French institution currently holds a 7 percent share in the Catalan bank and will appoint a board member as part of the transaction.
Market analysts describe the move as a defensive measure for Banco Sabadell, which has faced takeover attempts by BBVA in 2020 and 2024. BPCE joins other institutional shareholders including Zurich, which holds 5 percent, and Amundi, with 1.3 percent. These holdings are viewed as a strategy to maintain the bank’s independence against potential future acquisition bids. The partnership solidifies BPCE’s presence within the Spanish financial institution’s ownership structure.