Raiffeisen Bank has completed the acquisition of 100% of the shares in Garanti BBVA Romania Group, following receipt of all the necessary approvals from the relevant authorities. The transaction marks the entry of Garanti BBVA Romania into the Raiffeisen Bank International (RBI) Group, the bank informed on Tuesday.
The acquisition includes Garanti Bank SA, the financial leasing company Motoractive IFN SA, operating under the Garanti BBVA Leasing brand, and the operational leasing company Motoractive Multiservices SRL, operating under the Garanti BBVA Fleet Management brand. The businesses were acquired from subsidiaries of Banco Bilbao Vizcaya Argentaria SA (BBVA).
"The completion of the transaction marks a key milestone: it concludes the acquisition process and marks the beginning of a new chapter for Garanti BBVA Romania within the Raiffeisen Group. Going forward, Garanti BBVA Romania and Raiffeisen Bank are to merge. Until the legal merger is completed, Raiffeisen Bank and Garanti BBVA will continue to operate as separate banks," Raiffeisen Bank said in a press release.
Garanti BBVA Romania and Raiffeisen Bank Romania will continue to operate independently, with each bank conducting its business as usual. Existing contractual terms will remain unchanged, and customers are not required to take any action at this stage. All active contracts, product packages and services will continue unchanged until the merger is completed.
"We are delighted to welcome Garanti BBVA Romania into the RBI Group. Romania is a priority market for us, with strong long-term growth potential and an important role in the region. By bringing together the proven strengths of Raiffeisen Bank Romania and Garanti BBVA Romania, an outstanding bank with a team of professionals and a solid base of loyal customers, we are building an even stronger and more competitive bank," Michael Hollerer, CEO of Raiffeisen Bank International, said in the press release.
In his turn, Zdenek Romanek, President and CEO of Raiffeisen Bank Romania, said that the integration of Garanti BBVA Romania into the RBI Group strengthens the group's capabilities and provides fresh impetus for accelerating its growth plans.
"Until the integration is completed, the two teams will work towards a common goal: to be the best financial partner for people and businesses in Romania. The process will take time, but I am confident that, in the end, we will bring together not just two banks, but also two outstanding teams. Throughout the integration process, we aim to preserve the strengths that set Garanti BBVA Romania apart while making the most of the best that both organisations have to offer," he added.
According to the current plan, full integration is expected to be completed in the second half of 2027.
Business continuity remains a key priority for all customer segments, from individuals and SMEs to companies and institutions, ensuring uninterrupted access to products, services and support throughout the integration process, the bank's representatives also said.
Raiffeisen Bank operates in the Romanian banking market, serving approximately 2.4 million individual and corporate customers.
