Dutch group ING is in direct talks with Spanish group BBVA to see whether it can buy Garanti BBVA Romania, in a bid to more rapidly grow its foothold on the Romanian banking market and not lose ground to other banks under consolidation.
Garanti BBVA Romania will contribute EUR48 million to the syndicated loan of EUR435 million contracted by Ford Otosan Romania.
Garanti BBVA Romania, part of Garanti BBVA Turkey, in 2023 posted net profit worth RON177 million, down 7% from 2022, and RON521 million operating revenues.
Romania’s central bank has approved the appointment of Mustafa Tiftikcioğlu to the position of CEO of Garanti BBVA Romania.