Credit Agricole Bank Ukraine has signed an agreement to acquire up to 100% of the share capital of Bank Lviv, a Ukrainian bank headquartered in Lviv and focused on serving small and medium-sized businesses. The announcement was made by the Crédit Agricole Group on March 11.
Crédit Agricole said the acquisition is expected to strengthen the group’s position in Western Ukraine, while also reinforcing its presence in the SME segment and the agricultural sector. The bank emphasized that the deal is aligned with its long-term strategy of supporting the Ukrainian economy and its ambition to play a visible role in the country’s future reconstruction.
Completion of the transaction is subject to customary conditions precedent, including approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine. Crédit Agricole expects the transaction could be completed by mid-2026. The parties have not disclosed the acquisition price. The French group also noted that the deal’s impact on its CET1 capital ratio will be negligible.
For the Ukrainian banking market, this is one of the most notable recent M&A transactions involving an international strategic investor. As of February 1, 2026, Credit Agricole Bank Ukraine had assets of UAH 123.9 billion and capital of UAH 18.5 billion, and holds the status of a systemically important bank. By comparison, Bank Lviv’s assets stood at UAH 18.1 billion, while its capital amounted to UAH 1.6 billion as of the same date.
Crédit Agricole additionally reported that its Ukrainian subsidiary serves around 380,000 clients, operates 137 branches nationwide, and employs more than 2,200 people. Bank Lviv, for its part, serves more than 37,000 retail clients and 8,400 SME clients, including agribusinesses, and has a strong presence in the country’s western regions.
According to the National Bank of Ukraine, Bank Lviv is a solvent privately owned bank, and its ultimate qualifying shareholder is listed as Margeir Petursson of Iceland. At the end of February, the bank also reported receiving recognition in the Corporate Bank and Bank for International Trade categories as part of the Banks of the Year 2026 awards, further underscoring its specialization in servicing business clients.
It is worth noting that as of February 12, 2026, the Antimonopoly Committee of Ukraine had not yet received an official filing from Crédit Agricole S.A. regarding the acquisition of Bank Lviv. The signing of the agreement on March 11 means the process has now moved into the official stage and the regulatory approval phase has begun.
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