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ECB poised to give conditional approval to Credit Agricole stake increase in Banco BPM
Published by Global Banking and Finance Review
Posted on January 11, 2026
ECB’s Conditional Approval for Credit Agricole
ROME, Jan 11 (Reuters) – The European Central Bank (ECB) is close to clearing, with conditions, a request by France’s Credit Agricole to raise its stake in Italy’s Banco BPM, several Italian media reported on Sunday.
Details of the Stake Increase
Credit Agricole is a long-standing BPM commercial partner and the single largest shareholder in the Italian lender, with a stake of just above 20%.
Implications for Banco BPM
The conditions set by the ECB will regard the governance, Ansa news agency reported, with the French group having to limit its representatives in Banco BPM’s board to seven members, to avoid a “de facto takeover” and avoid conflicts of interest.
Future Prospects and Mergers
Credit Agricole has been working with Deutsche Bank and Rothschild on a potential merger of its Italian arm with Banco BPM, Reuters reported in September.
The Italian lender is weighing options after a failed takeover attempt by larger rival UniCredit.
After receiving the ECB’s approval, Credit Agricole will raise its stake in two steps, initially to 24.9% and then to 29.9%, Italian daily Corriere della Sera reported. It said both moves would be completed by April, when the Italian lender is scheduled to approve its 2025 results and is set to nominate a new board.
Banco BPM declined to comment. The ECB and Credit Agricole did not immediately respond to a Reuters request for comment.
(Reporting by Giulia Segreti and Valentina ZaEditing by Tomasz Janowski)