Raiffeisenbank buys BBVA’s Romanian bank for €591 million.
Raiffeisenbank International bought BBVA’s Romanian bank, Garanti Bank, for 591 million euros. This makes Raiffeisen Bank a large bank in Romania. The deal will increase Raiffeisen’s share of the market.
Raiffeisenbank International, a German bank, completed the purchase of Garanti Bank, BBVA’s Romanian subsidiary. The transaction cost 591 million euros. This acquisition makes Raiffeisen Bank the third-largest bank in Romania by size. Experts believe this will give Raiffeisen more customers in Romania. The deal is important for the Romanian banking industry and for banks in Europe.
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Highlights
Raiffeisen Buys Garanti Bank
Raiffeisenbank International bought BBVA’s Romanian bank, Garanti, for 591 million euros.
RBI is the New Owner
The Romanian Guarantee Bank is now owned by RBI, a German bank.
Large Financial Deal
The purchase cost 591 million euros.
Romania’s Biggest Bank
Raiffeisen Bank is now one of the three largest banks in Romania.
Market Share Increase
The deal will make Raiffeisen Bank’s market share grow.