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Garanti BBVA Exits Romania: 591 Million Euro Sale

Garanti BBVA

In a major strategic realignment of its international portfolio, Garanti BBVA announced via a Public Disclosure Platform (KAP) statement on March 28, 2026, that it has officially signed a Share Purchase Agreement to sell its Romanian operations. The bank’s subsidiaries in Romania, Garanti Bank S.A. and Motoractive IFN S.A., will be acquired by Raiffeisen Bank S.A. for a total consideration of €591 million.

Scope of the Transaction

The sale involves the transfer of 100% of the shares held by Garanti BBVA’s Netherlands-based subsidiaries, Garanti Holding B.V. and G Netherlands B.V. * Assets Sold: * Garanti Bank S.A.: The full banking operations in Romania. * Motoractive IFN S.A.: The leasing and non-bank financial wing of the Romanian branch.

  • Transaction Value: €591 Million.

  • Buyer: Raiffeisen Bank S.A. (The Romanian subsidiary of the Austrian banking giant).

Garanti BBVA Exits Romania, But Why Now?

While the bank initially postponed public disclosure to protect its “legitimate interests” during negotiations, the deal’s finalization marks a pivot toward capital optimization.

  • Refocusing on Core Markets: Analysts suggest that Garanti BBVA is streamlining its operations to focus on high-growth areas in Turkey and, potentially, other digital-first banking frontiers.

  • Strengthening Liquidity: The €591 million cash injection will significantly bolster the bank’s capital adequacy ratios at a time when the Turkish real sector is facing large foreign-exchange deficits (reaching $197.6 billion as of January 2026).

Timeline and Regulatory Approval

The deal is not yet finalized and remains subject to strict oversight from European and local financial authorities:

  1. Approval Phase: Necessary permits must be obtained from the National Bank of Romania (BNR) and relevant anti-trust authorities.

  2. Target Closing: The transaction is expected to be completed in the fourth quarter (Q4) of 2026.

Impact on the Romanian Banking Sector

The acquisition further consolidates the Romanian banking market. By absorbing Garanti’s assets, Raiffeisen Bank strengthens its position as one of the top-tier lenders in the country, increasing its market share in both retail and corporate leasing sectors.

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