Raiffeisen Bank International is close to finalising a €550 million purchase of BBVA’s Romanian subsidiary, Garanti BBVA Romania. The deal, announced on March 10 2026, would transfer Garanti’s €3.4 billion in assets and its customer base of roughly 450,000 to Raiffeisen, expanding the Austrian lender’s footprint in Eastern Europe.
Garanti’s balance sheet, based on its 2024 year‑end figures, shows total assets of RON 16.8 billion (about €3.4 billion) and a net profit of RON 133.5 million. The €550 million price represents roughly 1.2 times Garanti’s book value, a modest premium that reflects Raiffeisen’s confidence in the unit’s growth prospects and the strategic fit with its existing Romanian operations.
The transaction will require approval from Romanian regulatory authorities, a standard step for cross‑border acquisitions in the region. BBVA’s decision to sell its Romanian unit aligns with its broader strategy to concentrate on core markets such as Mexico and enterprise banking, a focus that has driven the bank’s recent portfolio optimisation efforts.
A prior attempt to sell Garanti BBVA Romania in 2020 was halted by the COVID‑19 pandemic, making this the first successful bid for the unit. The deal also positions Raiffeisen to increase its market share in Romania to over 11%, potentially making it the fourth‑largest bank in the country.
On the announcement day, BBVA’s shares rose 3.16%, reflecting investor optimism about the divestiture and the bank’s sharpened focus on high‑growth markets. The acquisition is expected to close later in 2026, subject to regulatory clearance and final due diligence.
The purchase underscores Raiffeisen’s long‑standing strategy of regional expansion through acquisitions, while providing BBVA with capital to invest in its core markets. The transaction is likely to accelerate Raiffeisen’s growth trajectory in Eastern Europe and enhance its competitive position against rivals such as ING and Intesa Sanpaolo.
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