Link Securities | According to the Romanian newspaper Ziarul Financiar, Raiffeisen Bank International is set to be the bank that will ultimately purchase BBVA’s Romanian subsidiary, which it controls through Garanti, Expansión reported yesterday. BBVA and Raiffeisen have declined to comment. Negotiations initially began with ING, although ultimately, the bank is more inclined to close the sale with Raiffeisen. The decision to sell will be made on Monday, according to local press reports, as reported by Europa Press. The purchase of Garanti would allow Raiffeisen to consolidate its market share in Romania, a market where it has a share of around 9%. Ahead of it are mainly Banca Transilvania, CEC Bank and Banca Comerciala Romana.
In early February, BBVA chairman Carlos Torres avoided answering whether the Romanian subsidiary was for sale during a press conference on the publication of the bank’s annual accounts. The executive said the bank did not comment on ‘market rumours’. Back in 2020, both Italy’s Intesa and OTP Bank were interested in acquiring BBVA’s Romanian subsidiary, although the sale did not go through at that time.
