Romania’s Competition Council approves Raiffeisen’s acquisition of Garanti Bank

The Competition Council, the body that safeguards consumer interests in Romania, authorized the transaction through which Raiffeisen Bank intends to acquire Garanti Bank and Motoractive IFN, according to a statement made public on Tuesday, October 20.

Raiffeisen Bank announced in March that it would acquire Garanti BBVA's business in Romania for EUR 591 million (USD 680 million), its first significant acquisition in several years.

In its analysis, the Competition Council found that the transaction does not raise significant obstacles to effective competition in the Romanian market or in a substantial part of it, and that there are no serious doubts regarding its compatibility with a normal competitive environment.

Following the acquisition, Raiffeisen will become Romania's third-largest bank by total assets and intends to integrate the business into its existing local operations, the banking group said.

Motoractive IFN, part of the Garanti BBVA Romania Group, is a non-bank financial institution that provides, under the Garanti BBVA Leasing brand, financial leasing solutions for vehicles, equipment, and real estate, according to Economica.

Raiffeisen also purchased Motoractive Multiservices, which provides fleet administration and management services under the Garanti BBVA Fleet Management brand, as part of the deal.

Garanti, listed on the Istanbul Stock Exchange, is a subsidiary of Spanish group BBVA, which estimated that the transaction would have a positive net impact of approximately 10 basis points on its Common Equity Tier 1 (CET1) ratio and EUR 112 million on the group's income statement.

The transaction is expected to close in the fourth quarter of 2026. A gradual integration process will then begin, which, according to current estimates, is expected to be completed in the second half of 2027. Raiffeisen intends to merge the acquired entities with its Romanian operations. Until this process is completed, the two entities will continue to operate independently.