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BPCE Accelerates Cross-Border Expansion With 75% Stake Acquisition In Novo Banco

by THEFUTURE.TEAM

June 19, 2025

French financial powerhouse BPCE has embarked on a bold expansion strategy by acquiring a 75% stake in Portugal’s Novo Banco from US private equity firm Lone Star. Valued at €6.4 billion, this transaction stands as one of Europe’s largest banking deals in recent years, underscoring a broader trend of consolidation within the sector.

Strategic Investment Drives Market Diversification

Set to conclude in the first half of 2026 pending regulatory and shareholder approvals, this acquisition reinforces BPCE’s capability to serve Portuguese families and businesses, while solidifying its influence in the national economy. Novo Banco’s CEO, Mark Bourke, stated in a regulatory filing that the transaction is designed to secure a long-term future built on strength, trust, and shared ambition.

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Legacy of Transformation and Resilience

Originally established in 2014 by the Portuguese central bank as the ‘good bank’ following the collapse of Banco Espírito Santo, Novo Banco has navigated significant financial challenges. In 2017, after prolonged privatization efforts by the Portuguese government, Lone Star acquired a 75% stake by injecting €1 billion in capital. Despite facing legacy losses from non-performing loans, Novo Banco reported its first profits in 2021, marking a pivotal turnaround in its financial performance.

Future Growth and Full Ownership Prospects

BPCE has already opened discussions with Portuguese authorities regarding the potential acquisition of the remaining 25% stake held by the state and the resolution fund. This move not only signifies BPCE’s commitment to diversifying its geographic footprint but also positions it to take full control of a major retail banking market, while increasing its exposure to variable rate loans—a common feature in Portugal’s financial landscape.

Industry Consolidation and Cross-Border Expansion

This acquisition is part of an ongoing wave of cross-border banking mergers. Since the muted merger activity following the 2008 financial crisis, leading institutions such as UniCredit, BBVA, and Italy’s MPS have pursued aggressive expansion strategies. Meanwhile, governments are gradually reducing their involvement in nationalized banks, thereby facilitating more dynamic private ownership structures. In parallel, Spain’s BBVA is currently engaged in a high-stakes battle with Banco Sabadell, echoing the transformative forces reshaping the European financial sector.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.