The sale of novobanco to the second largest French banking group, BPCE - Banque Populaire et Caisse d'Epargne, was concluded on 30 April with the payment and transfer of the shares.

The Minister of State and Finance Joaquim Miranda Sarmento stresses that the conclusion of this operation is a sign of international investors’ confidence in the national economy and in our country. 

“The sale of novobanco to one of the largest banking groups in Europe enables us to close a difficult chapter in our history, showing credibility and the capacity to recover. Despite the challenges throughout the process, we concluded this operation successfully, safeguarding that which is most important: the Portuguese financial system’s stability.”

The value of the operation is 6.7 billion euros, enabling the Portuguese State and the Resolution Fund, who own 25% of the share capital, to receive 1.673 billion euros. 

With this acquisition, the BPCE Group also strengthens its commitment to Portugal, not just in terms of consolidation and job creation, but also in supporting and financing citizens, companies, and the Portuguese economy, safeguarding the competition levels in the Portuguese banking system.