Ukrainian subsidiary of French Crédit Agricole acquires bank Lviv

Universal Credit Agricole Bank (Kyiv), a subsidiary of the French Crédit Agricole S.A., signed an agreement to acquire up to 100% of the share capital of Bank Lviv, a small and medium-sized business-focused bank headquartered in Lviv.

"This acquisition allows Crédit Agricole to strengthen its position in western Ukraine, while simultaneously strengthening the bank's position in the small and medium-sized business segment and in the agricultural sector," the bank said in a press release, without specifying the amount.

As of the beginning of this year, Credit Agricole Bank ranked 11th among 60 Ukrainian banks in terms of total assets (UAH 127.03 billion, or 3.04% of the entire banking system), while Lviv Bank ranked 25th (UAH 17.87 billion, or 0.43%).

In terms of total assets, this would allow the bank to enter the top ten Ukrainian banks, displacing OTP Bank from the list.

The release notes that the agreement to acquire Lviv Bank is fully consistent with Crédit Agricole's strategy to support the Ukrainian economy in the long term and its ambition to play a key role in Ukraine's recovery.

According to the statement, the completion of the transaction is subject to a number of preconditions, including regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine, and is expected to be completed by mid-2026.

The agreement meets Crédit Agricole S.A.'s return on investment criteria and its impact on Crédit Agricole's CET1 ratio is insignificant, the release also says.