BNP Paribas grants CaixaBank and ING access to Cetelem accounts for potential sale

BNP Paribas has initiated a decisive step in the process to sell its Spanish consumer credit subsidiary, Cetelem. The French banking group has granted CaixaBank and ING access to Cetelem’s financial records to allow for risk assessment and the preparation of potential offers.

An acquisition would provide the buyer with immediate access to a portfolio of approximately 3.5 million customers. Cetelem maintains significant partnerships with automotive brands such as Kia, Hyundai, and Volvo, as well as agreements with Orange and Apple. While Banco Sabadell previously explored the possibility of an acquisition, it ultimately decided not to proceed. BBVA also opted not to participate in the bidding process.