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, quoted by Romania Insider.
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.
Over the past twenty years, the Romanian banking sector has undergone a profound transformation, evolving from a cash-reliant post-communist economy into a highly digitalized, resilient financial system. Standing at the forefront of this structural shift is Raiffeisen Bank Romania, the local subsidiary of the Austrian-based Raiffeisen Bank International (RBI). Through systemic organic growth, targeted acquisitions, and aggressive early adoption of digital banking infrastructure, the institution has firmly established itself as one of top financial players in the country.
What began as a strategic expansion into East-Central Europe around the turn of the millennium has matured into a cornerstone of Romania’s corporate, retail, and SME financial landscape.
Key Milestones in Raiffeisen Bank Romania’s Growth Trajectory
| Phase / Era | Strategic Focus & Key Developments |
| Early 2000s | Consolidation post-acquisition of Banca Agricolă; integration of retail network |
| 2007–2012 | Navigating the global financial crisis; strengthening capital adequacy and risk management |
| 2013–2018 | Commercial expansion; acquisition of Citi’s retail portfolio; early digital offerings |
| 2019–2026 | Comprehensive digital transformation; launch of Smart Banking/RaiPay; green finance leader |
From Stabilization to Scale: The Acquisition of Banca Agricolă
The foundation of Raiffeisen’s modern footprint in Romania was laid when Raiffeisen Zentralbank Österreich acquired the distressed state-owned Banca Agricolă in 2001. Over the following years, the Austrian group undertook one of the most complex restructuring projects in Romanian financial history, merging it with its local commercial entity, Raiffeisenbank (Romania) S.A.
By replacing legacy infrastructure with Western European governance, modern credit-risk modeling, and universal banking practices, Raiffeisen turned a struggling institution into a profitable universal bank. This early scale gave Raiffeisen an immediate national branch network, enabling it to capture market share rapidly during the economic boom preceding Romania’s entry into the European Union in 2007.
Core Drivers of Modernization and Growth
Over the last two decades, Raiffeisen’s strategy in Romania has hinged on three operational pillars:
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Digital Innovation and Omnichannel Banking:
Raiffeisen was among the first financial institutions in Romania to aggressively shift away from traditional brick-and-mortar dependency. The deployment of its mobile banking ecosystems (Smart Mobile, RaiPay), combined with contactless payment solutions and instant digital onboarding, allowed the bank to lower operational costs while catering to a tech-savvy demographic.
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Corporate and SME Financing Engine:
The bank positioned itself as a primary liquidity provider for Romania’s industrial and agricultural development. Through strategic partnerships with European investment funds (such as the EIF and EIB), Raiffeisen facilitated billions of euros in preferential credit lines for small and medium-sized enterprises (SMEs), becoming a key partner for local entrepreneurs.
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Leadership in ESG and Green Finance:
In recent years, Raiffeisen Bank Romania emerged as a pioneer in sustainable finance within the local market. The institution was among the first to issue green and sustainability bonds on the Bucharest Stock Exchange (BVB), channeling capital directly into renewable energy, energy-efficient real estate, and sustainable infrastructure projects across Romania.
Navigating Macroeconomic Volatility
The bank’s two-decade presence has not been without headwinds. Raiffeisen successfully navigated major economic disruptions, including the 2008 global financial crisis, regional geopolitical tensions, inflation spikes, and shifting regulatory frameworks (such as sector-specific banking taxes).
Its ability to maintain strong capital buffers, low non-performing loan (NPL) ratios, and consistent dividend returns back to its parent group underscored the resilience of its local business model.
A Matured Market Leader
Today, Raiffeisen Bank serves millions of retail clients, small businesses, and large corporations across Romania. By combining international banking expertise with deep local market integration, the institution has not only grown its balance sheet, but has also actively shaped the modern financial habits of Romanian consumers. As the market enters a new era defined by artificial intelligence, open banking, and green transition mandates, Raiffeisen remains a benchmark for institutional stability and innovation in Eastern Europe.
