Garanti Completes Romanian Bank Sale, Reports 6.7 Billion Lira Gain
The bank said Raiffeisen acquired all shares in its Romanian businesses after regulatory approvals, completing the transaction on November 2.
Key takeaways
- Garanti completed the sale of its Romanian businesses to Raiffeisen on November 2.
- The bank reported a 6.7 billion lira gain based on September 30 financials.
Garanti BBVA completed the sale of its Romanian businesses to Raiffeisen Bank on November 2, reporting a gain of 6.7 billion lira based on September 30, 2026 financials.
The transaction covered all shares in Garanti Bank S.A. and Motoractive IFN S.A. and had a total sale price of 3 billion 14 million Romanian lei. The transfer followed regulatory approvals, the bank said.
Garanti had previously disclosed that it signed the sale agreement for 591 million euros in March. It said the end of its ownership relationship would not affect its operations.
As of 12:07 UTC on November 3, Garanti shares traded at 126 lira, down 2.55% from the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
