Crédit Agricole Ukraine has agreed to acquire up to 100% of shares in Bank Lviv, a financial institution based in Lviv and focused primarily on serving SMEs.

Bank Lviv currently works with more than 37,000 individual clients and around 8,400 small and medium-sized enterprises, including those in the agricultural sector.

The bank operates mainly in western Ukraine.

If finalised, the purchase will increase Crédit Agricole Ukraine’s presence in this region and expand its portfolio in the SME and agricultural banking sectors.

The deal is subject to regulatory approvals from both the National Bank of Ukraine and the Antimonopoly Committee of Ukraine.

Completion could occur by mid-2026, provided all conditions are met.

Crédit Agricole has indicated that the transaction will have a minimal effect on its Common Equity Tier 1 capital ratio and meets its investment return standards.

In January, Crédit Agricole received approval from the European Central Bank to raise its stake in Banco BPM above 20%.

During the third quarter of 2025, it entered derivative transactions related to Banco BPM shares, enabling a possible increase of its holding by another 0.3%.

Once these derivatives are settled physically, Crédit Agricole’s total stake could reach 20.1%.

The group has confirmed it “does not intend to acquire or exercise control on Banco BPM and will maintain its stake below the mandatory tender offer threshold.”