Garanti Bank BBVA agrees to sell Romanian unit to Austria's Raiffeisen for 591 mln euros

Garanti BBVA agreed to sell its entire Romanian business to Austria's Raiffeisen Bank for €591 million ($680 million). The deal transfers full Romanian operations to Raiffeisen and generates a €591m cash inflow for Garanti BBVA, a notable cross‑border banking M&A that should be material to the two banks' country exposure and investor focus.

Analysis

Garanti BBVA agreed to sell its entire Romanian business to Austria's Raiffeisen Bank for €591 million ($680 million). The deal transfers full Romanian operations to Raiffeisen and generates a €591m cash inflow for Garanti BBVA, a notable cross‑border banking M&A that should be material to the two banks' country exposure and investor focus.