Finance
Garanti Bank BBVA Agrees to Sell Romanian Unit to Austria's Raiffeisen for 591 Million Euros
Published by Global Banking & Finance Review®
Posted on March 30, 2026
2 min readLast updated: March 30, 2026
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Garanti BBVA has struck a deal to sell its Romanian operations to Austria’s Raiffeisen Bank for €591 million, pending regulatory approval and expected to close in Q4 2026. The move will boost BBVA’s CET1 ratio by ~10 bps and generate €112 million in net income.
Garanti Bank BBVA Sells Romanian Unit to Raiffeisen for €591 Million
Details of the Garanti BBVA and Raiffeisen Bank Deal
Agreement Announcement
GDANSK, March 30 (Reuters) - Garanti BBVA has agreed to sell its entire Romanian business to Austria's Raiffeisen Bank for 591 million euros ($680 million), the Turkish lender said.
Share Purchase Agreement and Subsidiaries Involved
In a statement to Turkey's Public Disclosure Platform on March 28, Garanti BBVA said its board approved the share purchase agreement, authorising its Dutch subsidiaries Garanti Holding B.V. and G Netherlands B.V. to sell their entire stakes in Romania-based Garanti Bank S.A. and leasing company Motoractive IFN S.A. to Raiffeisen Bank.
Scope of the Transaction
The transaction covers 100% of the share capital of both companies.
Regulatory Approvals and Timeline
Garanti BBVA said completion of the sale is subject to regulatory approvals from the relevant authorities and is expected to take place in the fourth quarter of 2026.
Background and Strategic Considerations
The bank had previously disclosed on March 10 that it was evaluating strategic options regarding its Romanian operations.
Impact on BBVA Group
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.
Exchange Rate Information
($1 = 0.8686 euros)
Reporting Credits
(Reporting by Canan Sevgili; Editing by Daren Butler)
Key Takeaways
- •Garanti BBVA Romania and leasing arm Motoractive IFN are being sold in full for €591 million, pending regulatory clearance, aiming for completion in Q4 2026.
- •The transaction is expected to lift BBVA Group’s CET1 capital ratio by approximately 10 basis points and contribute around €112 million to its income statement.
- •For Raiffeisen, the acquisition accelerates its market consolidation in Romania—raising its share above 11% and moving it closer to the country’s top banking ranks.
Frequently Asked Questions about Garanti Bank BBVA agrees to sell Romanian unit to Austria's Raiffeisen for 591 million euros
1Who is buying Garanti Bank BBVA's Romanian unit?
Austria's Raiffeisen Bank is acquiring Garanti Bank BBVA's entire Romanian business.
2How much is Raiffeisen paying for the Romanian unit?
Raiffeisen is paying 591 million euros ($680 million) for the transaction.
3Which entities are included in the Garanti Bank BBVA sale?
The agreement includes Garanti Bank S.A. and leasing company Motoractive IFN S.A.
4When is the Garanti Bank BBVA Romanian sale expected to close?
Completion is expected in the fourth quarter of 2026, subject to regulatory approvals.
5What financial impact does the sale have on BBVA?
BBVA estimates a net positive impact of 10 basis points on its CET1 ratio and 112 million euros on its income statement.
