PARIS, March 11 (Reuters) - French bank Credit Agricole has agreed to buy Ukraine's Bank Lviv, it said on Wednesday, adding that the deal formed part of its strategy of supporting the reconstruction
Credit Agricole to Acquire Ukraine’s Bank Lviv, Supporting Economic Recovery
Credit Agricole’s Strategic Acquisition and Support for Ukraine
Acquisition Announcement and Economic Context
PARIS, March 11 (Reuters) - French bank Credit Agricole has agreed to buy Ukraine's Bank Lviv, it said on Wednesday, adding that the deal formed part of its strategy of supporting the reconstruction of Ukraine's economy, which has been hit by the war with Russia.
Strengthening Presence in Western Ukraine
"This acquisition enables Credit Agricole Ukraine to strengthen its position in Western Ukraine, while reinforcing Credit Agricole Ukraine's positioning on the SMEs (small-to-medium-sized enterprises) segment and in the agricultural sector," said the French bank.
Long-Term Commitment to Ukrainian Economy
"The acquisition of Bank Lviv 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," it added.
Deal Value and Timeline
The French bank did not disclose the value of the acquisition, which it expects to complete by mid-2026.
Reporting Credits
(Reporting by Sudip Kar-Gupta;Editing by Inti Landauro)
