Credit Agricole Bank (Kyiv) has signed an agreement to acquire up to 100% of the share capital of the Bank Lviv, a Ukrainian bank focused on small and medium-sized businesses headquartered in Lviv.
It was announced by Credit Agricole Bank, the Ukrainian News agency reported.
This acquisition allows Credit Agricole Ukraine to strengthen its position in the west of Ukraine, while strengthening the bank's position in the small and medium business segment and in the agricultural sector.
The acquisition of Bank Lviv is fully in line with Credit Agricole Ukraine's strategy to support the Ukrainian economy in the long term.
Completion of the transaction is subject to a number of conditions precedent, including 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 criterion and has no impact on Crédit Agricole S.A.'s CET1 ratio.
As the Ukrainian News agency earlier reported, Credit Agricole Bank has been operating in the financial market of Ukraine since 1993 and is owned by the French financial group Credit Agricole Group.
In early 2022, Nordic Environment Finance Corporation (Nefco) bought a 13.94% stake in Bank Lviv.
On August 30, 2018, ResponsAbility Participations AG bought 40.45% of Lviv Bank from New Progress Holding.
On January 15, 2019, it became known that the company had increased its stake in the bank's capital from 40.4454% to 51%.
Previously, the bank's shareholders also included Cyprus-based Frontmost Limited.
The ultimate beneficiary of the bank is Margeir Pétursson.
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