Competitiveness Council

Romania's Competition Council has authorized Raiffeisen Bank's planned acquisition of Garanti Bank and Motoractive IFN, clearing the deal to proceed in the Romanian banking sector. The approval removes the main regulatory hurdle, allowing the transaction process to move forward. The move is seen as a further consolidation of Romania's banking market, with Raiffeisen strengthening its position through the purchase of the Garanti group's local operations and the non-bank lender Motoractive.