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Türkiye-based lender Garanti, in which Spain’s BBVA holds an 85% stake, has signed a €591 million ($682.22 million) deal to sell its Romania operations to Austria’s Raiffeisen Bank.
The transaction includes the full transfer of shares in Garanti Bank S.A. and Motoractive IFN S.A., both currently held through Netherlands-based subsidiaries Garanti Holding B.V. and G Netherlands B.V., the bank said in a public disclosure.
The deal is subject to approvals from relevant regulatory authorities and is expected to close in the fourth quarter of 2026.
Raiffeisen Bank International (RBI) said the acquisition aligns with its strategy to expand in core markets through both organic growth and targeted deals.
In its statement, the company highlighted Romania’s position within the European Union as a factor behind the deal, pointing to its economic role and growth potential in retail, corporate, and investment banking.
"RBI has a strong capital position and is pursuing growth organically and through acquisitions in its core markets.
This transaction represents a significant strategic move in one of the most attractive banking markets in Central and Eastern Europe, in a country we know very well," CEO Johann Strobl said.
RBI plans to integrate the acquired entities into its existing Romanian operations to capture operational and cost efficiencies.
Garanti BBVA has operated in Romania since 1998, making it one of the bank’s key international markets.
The Romanian unit stands as its second foreign subsidiary after GarantiBank International N.V., which was established in 1990.
As of the last quarter of 2025, Garanti’s Romania operations included 67 branches and 1,118 employees. The unit reported total assets of ₺204.36 billion ($5.17 billion).
RBI’s Romanian subsidiaries hold €17.5 billion ($20.2 billion) in assets, and the acquisition is expected to make Raiffeisen Bank S.A. the third-largest bank in Romania by total assets, according to the Austrian lender.
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