BBVA sells its subsidiary in Romania to the Austrian financial institution Raiffeisen for 591 million euros | Companies | EUROtoday

Raiffeisen International Bank (RBI) has reached an settlement to accumulate 100% of the shares of Garanti BBVA Romania – leasing division of Garanti Bank and Motoractive, BBVA – for 591 million euros, each the Austrian and Spanish entities reported this Saturday in separate statements. For the Austrian entity, the operation represents an “important strategic step”, which accelerates progress and strengthens Raiffeisen Bank’s place in Romania.

This is a purchase order of huge magnitude, for the reason that subsidiary of Garanti BBVA is the tenth largest monetary entity on this Eastern European nation by quantity of belongings; Specifically, “with a share of approximately 2% and total assets of 4,000 million euros at the end of 2025, less than 5% of Garanti BBVA’s assets,” the Spanish financial institution revealed.

BBVA estimates that this sale will have an effect on the group’s earnings assertion with a constructive impression of round 10 foundation factors on the CET1 ratio and 112 million euros. The transaction can be accomplished in spite of everything the required approvals are obtained from the competent authorities, though each banks anticipate that the settlement can be finalized within the fourth and final quarter of this yr. “Until the completion of this process, the two entities will continue their activity independently, without any modification of the existing contractual conditions,” harassed the Austrian entity.

“By bringing together Raiffeisen Bank Romania with the capabilities of Garanti BBVA, RBI further strengthens its presence in a key market for our Group,” mentioned Michael Holler, at present a member of the Supervisory Board and who would be the subsequent CEO of Raiffeisen Bank worldwide from July.

Present in Romania since 1998, Garanti BBVA has developed over time a stable portfolio of banking services and products for all enterprise segments: Retail, SME and Corporate. The Spanish monetary group Banco Bilbao Vizcaya Argentaria (BBVA) is almost all shareholder of Garanti BBVA, whereas Raiffeisen Bank, a financial institution with stable capitalization and liquidity, operates within the Romanian banking market, serving roughly 2.3 million purchasers, people and authorized entities.