BPCE, a French bank, will open its first office in Lisbon as part of its plan to expand in Portugal. This comes after BPCE bought Novobanco from Lone Star for €6.4 billion. The new Lisbon office will work with BPCE’s current operations in Porto, where over 2,000 people are already working in support roles.
BPCE controls Natixis, a big bank that deals with businesses and investments and is based in Paris.
The Lisbon office will help Natixis grow its presence in Portugal and fit with BPCE’s plan to increase its business in the country. BPCE has said that buying Novobanco is not about cutting costs. They have no plans to let go of employees, and all more than 4,000 workers at Novobanco, as well as nearly 300 branches, will stay as they are.
This is the first step BPCE is taking in Lisbon and shows a bigger plan to improve services and bring new ideas to Portugal.
They will combine Novobanco’s network for regular customers with Natixis’ skills in helping businesses and handling investments.
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