BBVA has concluded, after a little more than seven months of procedures, the divestment of 100% of its subsidiary in Romania in favor of Raiffeisen Bank, the entity that the Austrian group Raiffeisen Bank International AG (RBI) operates in the country, for an amount of 571 million euros, once all the relevant regulatory authorizations had been obtained.
The transaction, which the Bilbao-headquartered bank expects to involve an after-tax net gain of 83 million euros, was agreed upon last March. In addition, the entity chaired by Carlos Torres calculates that the transaction will have a positive effect on the Group’s CET1 capital ratio of close to 8 basis points.
BBVA’s Romanian subsidiary, managed under the Garanti brand, ranks tenth in the country’s financial system by volume of assets, with an approximate share of 2% and total assets of 4,000 million euros at the close of 2025 (less than 5% of Garanti BBVA’s assets).
The talks for the sale were initially started with ING, although the bank ultimately chose to close the deal with Raiffeisen. Previously, in 2020, the Italian entities Intesa and OTP Bank had already shown interest in acquiring BBVA’s Romanian subsidiary, although the deal did not move forward then due to the impact of the pandemic and the collapse of activity.
With this acquisition, Raiffeisen strengthens its presence in the Romanian market, where it already holds a share close to 9%. Ahead are mainly Banca Transilvania, CEC Bank and Banca Comerciala Romana.
BBVA operated in Romania since 2011, when it entered indirectly through the purchase of Garanti, despite the fact that this entity had already been present in Eastern Europe since 1998. At the close of 2025, BBVA had 1,192 employees in Romania and managed a portfolio of more than 450,000 clients.