On December 6, 2024, the Belgian Competition Authority (BCA) granted approval for the BPCE group's acquisition of Bank Nagelmackers. This decision follows the notification of the concentration on November 27, 2024, and the request for a simplified procedure.

The BPCE group, recognized as the second-largest banking entity in France, operates through its major networks, Banque Populaire and Caisse d’Epargne. It also has a presence in Belgium via branches like Caisse d’Epargne et de Prévoyance Hauts de France, which offers both retail and corporate banking services, along with insurance products.

Bank Nagelmackers, a Belgian bank, similarly provides retail and corporate banking services and distributes insurance products. The acquisition creates horizontal overlaps in retail and corporate banking services and establishes vertical links in the insurance sector.

In its ruling, the BCA concluded that the conditions for applying the simplified procedure were satisfied and determined that the merger did not present any objections, allowing the transaction to proceed.