new Swiss investor responsAbility receives NBU approval for acquisition of majority stake in Bank Lviv

03/07/18

     Bank Lviv has been notified by NBU that on June 23rd, 2018 it approved the acquisition of a majority 51% stake in Bank Lviv by a private equity company managed by Swiss asset manager responsAbility Investments AG. The remaining 49% stays with the long-standing shareholder Margeir Petursson, through New Progress Holding and Frontmost. Such strategic investment is confirmation of the institution’s solidity as much as it is a recognition of the relevance and the potential of Western Ukraine and Lviv from a European perspective.

    responsAbility is an asset manager in the field of development investments and offers professionally-managed investment solutions to private, institutional and public investors. The company’s investment solutions supply debt and equity financing predominantly to non-listed firms in emerging and developing economies. Through their inclusive business models, these firms help to meet the basic needs of broad sections of the population and to drive economic development.

      Michael Fiebig, responsAbility’s Head Equity Investments Financial Institutions, is looking forward to oversee future development of the Bank Lviv: “It has been a unique opportunity to find such a strong local partner for the strategically important Western Region of Ukraine. Building an SME bank in a fast-growing region providing reliable banking services to businesses who have been struggling for access to resources represents the developmental contribution responsAbility stands for.”
     Margeir Petursson, bank’s shareholder, is pleased to see that his long-standing belief in the potential of Lviv and Western Ukraine is shared by such a reliable and trustworthy partner as responsAbility. “We have been successfully serving private individuals and businesses in the West of Ukraine since 1990. Partnering with responsAbility, who shares our belief in the region’s potential offers an incredible opportunity to apply and exchange best practices and experience from Switzerland, the world’s leading banking market. This partnership will allow us to grow and develop a strong regional bank for small and medium businesses and individuals”.
     Margeir Petursson and responsAbility share the ambition of becoming the leading provider of responsible, client-focused financial services in Western Ukraine for small and medium-size businesses during the next two-three years.  

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