Crédit Agricole has agreed to acquire IKB Deutsche Industriebank from Lone Star Funds, buying the Düsseldorf-based specialist lender to Germany's Mittelstand for an undisclosed sum.
Why Crédit Agricole is buying IKB Deutsche Industriebank
Crédit Agricole said the deal would give it immediate scale in the German mid-corporate banking market and fits its ACT 2028 plan, under which Germany is a priority for growth. The group recently launched Crédit Agricole Deutschland, a universal bank for German retail customers. "Germany is at the heart of our European ambitions," said chief executive Olivier Gavalda.
Deal terms and financing
Crédit Agricole is buying 100% of IKB and did not disclose the price; Les Echos estimated the valuation at €600m to €700m. The acquisition is self-financed and expected to reduce Crédit Agricole S.A.'s CET1 ratio by about 20 basis points at completion. IKB, which employs about 600 people in six German offices, had total assets of €14.3bn and loans of €8.2bn at the end of 2025, of which €4.4bn was refinanced through KfW and other development institutions. It made net income of €61m in 2025.
Regulatory approvals and timing
The deal requires clearance from competition authorities, a review under the EU Foreign Subsidies Regulation and approval from the European Central Bank. Completion is expected by the end of the second quarter of 2027.
Market context
IKB, founded in 1924, provided €2.8bn of new financing in 2025, up 27% on the year. Its chief executive, Michael Wiedmann, said joining the group would open a new chapter of development for the bank.
