Finance
Raiffeisen nears $640 million deal for BBVA's romania unit, Bloomberg news reports
Published by Global Banking & Finance Review®
Posted on March 10, 2026
2 min readLast updated: March 10, 2026
Quick Summary
Austria’s Raiffeisen Bank is close to agreeing to buy BBVA’s Garanti BBVA Romania for around €550 million ($641 million), which would boost its Romanian market share and elevate it among the top domestic banking institutions.
Raiffeisen nears $640 million deal for BBVA's Romania unit, Bloomberg News reports
Raiffeisen's Acquisition of BBVA's Romanian Garanti Unit
Deal Details and Valuation
March 10 (Reuters) - Austria's Raiffeisen Bank is closing in on a deal to buy BBVA's Romanian Garanti unit for about 550 million euros ($640.97 million), Bloomberg News reported on Tuesday citing people familiar with the matter.
Raiffeisen has offered to pay about 1.2 times the book value for Garanti, the report said.
Verification and Comments
Reuters could not immediately verify the report. BBVA and Raiffeisen declined to comment.
Raiffeisen's Recent Financial Performance
Profit Growth
Raiffeisen had reported a 48% rise in its preliminary 2025 consolidated profit in January, driven by accelerating loan growth.
Leadership Changes
The Austrian lender said in December last year its former Chief Financial Officer Michael Hoellerer would take over as CEO of the bank starting in July 2026.
Context: European Banking Sector
Regulatory Environment
The reported deal for BBVA's Romania unit comes as the European Commission looks to introduce a proposal to make it easier for companies in the region to build scale through cross-border acquisitions in its first overhaul of merger rules in more than two decades.
Exchange Rate Information
($1 = 0.8581 euros)
Reporting Credits
(Reporting by Anusha Shah in Bengaluru; Editing by Krishna Chandra Eluri)
Key Takeaways
- •The acquisition, at approximately €550 million (~$640 million), values Garanti at about 1.2x its book value, pending regulatory approvals. (economedia.ro)
- •Raiffeisen’s current Romanian market share of about 9.3% would increase beyond 11%, potentially placing it fourth-largest in the market and edging toward the top 3. (romania-insider.com)
- •Garanti BBVA Romania reported strong 2024 results with net revenues up 28.6%, net interest income up 44.2%, loans rising 15.6%, and deposits growing 10.3%. (garantibbva.ro)
References
Frequently Asked Questions about Raiffeisen nears $640 million deal for BBVA's Romania unit, Bloomberg News reports
1Who is Raiffeisen Bank reportedly acquiring?
Raiffeisen Bank is reportedly close to acquiring BBVA's Romanian Garanti unit.
2What is the estimated value of the Raiffeisen-BBVA deal?
The estimated value of the deal is about 550 million euros ($640.97 million).
3Has the deal been officially confirmed by either Raiffeisen or BBVA?
No, both Raiffeisen and BBVA declined to comment on the reported deal.
4What currency conversion rate is mentioned in the article?
The article mentions a conversion rate: $1 equals 0.8581 euros.
5Which source reported on the potential Raiffeisen-BBVA deal?
Bloomberg News reported on the potential deal, citing people familiar with the matter.
