Oddo BHF plans trade finance exit through sale to Bred Banque Populaire

Oddo BHF has agreed to sell its international and corporate banking division to Bred Banque Populaire, in a transaction that would take the Franco-German lender out of trade finance, export finance and correspondent banking, Global Trade Review reported. Financial terms were not disclosed. Completion is expected in the first half of 2027, subject to regulatory approval and consultation processes.

Bred said the acquisition would broaden its corporate banking operations in Germany as part of its international expansion strategy. The buyer identified the German market as offering opportunities to develop trade and export finance alongside correspondent banking. Oddo BHF, meanwhile, intends to concentrate on wealth management, asset management and investment banking.

The business being sold brings a substantial international banking network. According to Bred’s statement, Oddo BHF has relationships with 460 correspondent banks across more than 100 countries and a history of serving German companies stretching back over a century. Its international and corporate banking offering also covers corporate accounts, payments, foreign exchange and cash management, according to the lender’s website.

Whether Bred will retain the unit’s approach to emerging markets remains unresolved. GTR described Oddo BHF as a lender willing to take trade finance and correspondent banking risk in frontier markets, including Sub-Saharan Africa and Central Asia. Asked about continuing that strategy, a Bred spokesperson told the publication that it was too early to provide an answer.

Both banks told GTR that the sale would not lead to staffing changes. Bred also said clients would retain access to services from the transferred division after completion. Oddo BHF managing partner Philip Oddo expressed confidence that the transaction would create opportunities for customers, partners and correspondent banks; that assessment remains the seller’s stated expectation.

The planned acquisition comes amid changes in Germany’s corporate banking sector. GTR noted that UniCredit had moved closer to taking over Commerzbank, a major lender to export-oriented German smaller businesses. UniCredit indicated earlier this year that it would reduce Commerzbank’s international network, which supports much of its trade finance and financial institution activity.