Belfius’ Next CEO Eyes 20% Sale, Insurance M&A in France (1)

Belfius Bank SA’s incoming chief executive officer said he will push for the sale of a 20% stake in the Belgian state-owned bank this year as a first step toward partial privatization, while targeting an acquisition in the French insurance market in 2026.

Olivier Onclin, who will take over from Marc Raisiere at the end of April, didn’t identify the potential insurance target as he outlined the bank’s strategy to 2030.

The government announced last year its plans for partial privatization, an important milestone in its move away from state control. The bank was born out of the ...