Finance
Austria's Raiffeisen to Buy BBVA's Romania Unit for $680 Million
Published by Global Banking & Finance Review®
Posted on March 28, 2026
2 min readLast updated: March 28, 2026
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Quick Summary
Austria’s Raiffeisen Bank will acquire BBVA’s Garanti Romania unit for €591 million (~$680 million), marking its first major deal in years. This strategic move bolsters its presence in Romania and positions it as the third‑largest bank by assets.
Raiffeisen to Acquire Garanti BBVA Romania in $680 Million Deal
Major Acquisition Signals Strategic Shift for Raiffeisen Bank
Deal Overview and Financial Details
March 28 (Reuters) - Austria's Raiffeisen Bank said on Saturday it would buy Garanti BBVA's Romanian business for 591 million euros ($680 million), its first significant acquisition in recent years.
Significance of the Acquisition
The deal marks a turning point for Raiffeisen, which has long been under pressure to withdraw from Russia due to its invasion of Ukraine and the imposition of Western sanctions on Moscow.
Raiffeisen’s Strategic Direction
CEO’s Statement on Growth and Expansion
Raiffeisen's CEO Johann Strobl said his bank has a strong capital base and is pursuing both organic growth and acquisitions in its core markets.
"This transaction is a significant strategic step in one of the most attractive banking markets in Central and Eastern Europe, a country we know very well," he said in a statement.
Market Impact and Integration Plans
Raiffeisen said the acquisition should make it the third-largest bank in the Romanian banking market by total assets. Raiffeisen expects to close the deal in the fourth quarter.
It plans to integrate the business with its existing Romanian operations.
Implications for Garanti BBVA and BBVA Group
Financial Impact on BBVA
Istanbul-listed Garanti is a majority-owned unit of Spain's BBVA, which estimates the transaction will have a net positive impact of around 10 basis points on its CET1 ratio and 112 million euros on the group's income statement.
Impact on Raiffeisen’s Financials
Raiffeisen said the transaction is expected to have around a minus 60 basis point impact on its CET1 ratio.
Exchange Rate Information
($1 = 0.8690 euros)
Reporting Credits
(Reporting by Fabiola Arámburo in Mexico City; Editing by William Mallard and Edwina Gibbs)
Key Takeaways
- •The €591 million acquisition is Raiffeisen’s first significant deal in years and strengthens its footprint in Central and Eastern Europe by making it the third‑largest bank in Romania by assets.
- •The deal aligns with Raiffeisen’s shift away from geopolitical risk regions like Russia, leveraging Romania’s high‑growth banking market where sector returns on equity recently reached 20 %.
- •BBVA expects a net positive impact of ~10 basis points on its CET1 ratio and €112 million to group income, while Raiffeisen anticipates a ~60 basis point CET1 hit.
Frequently Asked Questions about Austria's Raiffeisen to buy BBVA's Romania unit for $680 million
1How much did Raiffeisen pay to acquire BBVA's Romania unit?
Raiffeisen Bank agreed to buy Garanti BBVA's Romanian business for 591 million euros ($680 million).
2When is Raiffeisen expected to close the acquisition deal?
Raiffeisen expects to close the acquisition in the fourth quarter of this year.
3What impact will the acquisition have on Raiffeisen in Romania?
The acquisition will make Raiffeisen the third-largest bank in the Romanian banking market by total assets.
4Who currently owns Garanti BBVA's Romanian business?
Garanti BBVA Romania is a majority-owned unit of Spain's BBVA.
5What is the expected impact of the transaction on BBVA's CET1 ratio?
BBVA estimates a net positive impact of around 10 basis points on its CET1 ratio.