Nefco (Nordic Environment Finance Corporation) is a new shareholder in Bank Lviv owning 13.94% of the capital. The bank’s capital increased by UAH 270 million. The new investments confirm shareholder confidence in the continued growth and development of Bank Lviv.
With this investment, Bank Lviv continues to be a 100% foreign-owned bank. The largest shareholders are the Swiss responsAbility (48,56%) and Margeir Petursson (Iceland, 37,47%).
Bank Lviv is one of the fastest growing banks in Western Ukraine, and the leading micro and SME lender in the region. During last three years, the bank’s loans increased by 45% and deposits by 30% annually. One of the top-30 banks in Ukraine, Bank Lviv operates through 19 branches in Western Ukraine and Kyiv.
“We are happy to welcome Nefco to Bank Lviv as a shareholder. Besides the investment, Nefco will help strengthen Bank Lviv’s focus on sustainable environmental and social finance. Our international shareholders believe in Ukraine and seek a positive impact through direct investments in the bank’s capital. I am certain that Nefco’s experience and expertise in green financing will support Bank Lviv’s development as a modern and sustainable bank,” says Ashot Abrahamyan, Chairperson of Bank Lviv Management Board.
“Bank Lviv’s strategy, our previous cooperation and the engagement and ownership of other professional impact investors encouraged us to invest in the bank. Nefco and Bank Lviv share the same goal of accelerating the green transition and we believe that our participation will help the bank achieve its goals of sustainable and responsible banking. Bank Lviv is close to its customers, provides good service and aims to promote sustainable businesses practices and make a positive impact on the economy. The bank’s sustainable growth potential motivates us, and we are looking forward to continuing our cooperation with the Bank Lviv team,” says Thor Thorsteinsson, Vice President, Nordic SMEs, Nefco.
Nefco, the Nordic Green Bank, is an international financial institution that finances the initial scale-up of Nordic green solutions on global markets. Founded in 1990 by the five Nordic countries, Nefco has already financed and implemented over 1,500 projects in energy efficiency, renewable energy, clean water and sanitation, waste management, and cleaner industrial processes, among others. We serve the interests of our owners, Denmark, Finland, Iceland, Norway and Sweden, and work with concrete actions to accelerate the green transition.
About Bank Lviv
Bank Lviv is a ‘European’ bank that has provided reliable banking services to businesses and private individuals in Western Ukraine since 1990. Our vision is to be the №1 bank in Western Ukraine for those who want to develop and improve the local business environment. We are building a new banking culture on a foundation of transparent relationships and common objectives. Bank Lviv’s mission is to create opportunities, provide support and share experiences for those who strive for better. As of December 2021, Bank Lviv’s assets amounted to USD 240 million, its total loan portfolio to USD 169 million and its deposits to USD 131 million.