Caixabank to assess possible bid for BNP's Cetelem in Spain and Portugal, newspaper reports
Thu 01/10/2026 - 14:51
(Corrects to make clear potential deal is for Cetelem's business in Spain and Portugal, not the whole of Cetelem)
MADRID, Oct 1 (Reuters) - Spanish lender Caixabank has hired Morgan Stanley to assess a potential acquisition of Cetelem's consumer lending business in Spain and Portugal, owned by BNP Paribas, financial newspaper Expansion reported on Thursday.
• Caixabank, Spain's largest lender by domestic assets, would strengthen its consumer lending activities with the deal.
• Spanish consumer lending has recovered to highs not seen since before the global financial crisis, reflecting a shift in focus from mortgages to more profitable but riskier credit.
• Caixabank, BNP Paribas and Cetelem declined to comment on the report.
• Morgan Stanley representatives were not immediately available to comment.
• Expansion said that BNP Paribas launched the sale as part of a strategic refocusing and invited prospective bidders to submit non-binding offers over the summer.
• Expansion said that the market estimates the value of the deal at between €900 million ($1 billion) and €1 billion.
(Reporting by Jesús AguadoEditing by David Goodman)
