Credit Agricole Ukraine Bank acquired Lviv Bank
11 March 23:09
Credit Agricole Ukraine Bank has signed an agreement to acquire up to 100% of the share capital of Lviv Bank, which focuses on small and medium-sized businesses and is headquartered in Lviv. This was reported by the bank’s press service, according to "Komersant Ukrainian".
It is noted that this acquisition allows Credit Agricole to strengthen its position in Western Ukraine, while strengthening the bank’s position in the small and medium-sized business segment and in the agricultural sector.
“The agreement to acquire Bank Lviv is fully in line with Credit Agricole Ukraine’s strategy to support the Ukrainian economy in the long term and its ambitions to play a key role in Ukraine’s recovery,” the statement said.
The bank noted that the completion of the deal will depend on the fulfillment of a number of preliminary conditions, in particular, obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine, and is expected to be completed by mid-2026.
“This transaction meets Crédit Agricole S.A.’s return on investment criteria. Its impact on Crédit Agricole S.A.’s CET1 ratio is insignificant,” the press service said.
Crédit Agricole Ukraine, a wholly owned subsidiary of Crédit Agricole S.A., is a universal international bank in Ukraine. With its head office in Kyiv, 137 branches across the country, and 2,200 employees, the bank serves 380,000 customers.
Bank Lviv is a Ukrainian bank focused on small and medium-sized businesses, with its head office in Lviv and over 37,000 retail customers and 8,400 small and medium-sized business customers, including agricultural companies. The bank has a permanent presence in western Ukraine. It offers financing for development, working capital replenishment, refinancing, and energy efficiency projects, as well as a full range of deposit and payment services.
Reminder:
As of February 12, the Antimonopoly Committee of Ukraine (AMCU) had not received any application from Crédit Agricole SA (France) regarding the possible acquisition of Bank Lviv.
