Credit Agricole Ukraine acquires Bank Lvov

MOSCOW. March 12 (Interfax) - Kiev-based Credit Agricole Ukraine has signed an agreement to acquire up to 100 % of the share capital of Bank Lvov, an SME-focused Ukrainian bank, Ukrainian media reported.

"This acquisition enables Credit Agricole Ukraine to strengthen its position in Western Ukraine, while reinforcing Credit Agricole Ukraine's positioning on the small-to-medium-sized enterprises segment and in the agricultural sector," the ⁠media quoted the French bank as saying in a press release. The amount of the deal was not disclosed.

Credit Agricole Ukraine was the 11th largest of the 60 banks operating in Ukraine with assets of UAH 127.03 billion or 3.04% of the sector total as of January 1, 2026. Bank Lvov was 25th with UAH 17.87 billion or 0.43%. These assets would rank the merged bank among the top ten, with OTP Bank dropping out.

The acquisition of Bank Lvov is fully aligned with Credit Agricole Ukraine's strategy to support the Ukrainian economy in the long term and its ambition to play a key role in the country's reconstruction, the press release reads.

The transaction remains subject to usual conditions precedent, including obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine. It could be completed by mid-2026, the bank said in the press release.

This transaction is in line with Credit Agricole S.A.'s return on investment criteria, the bank said in the press release. Its impact on Credit Agricole S.A.'s CET1 ratio is negligible, it said.