Italy's Intesa interested in Garanti BBVA Romania - source

Banca Transilvania

23/01/2020 16:30

MILAN/BUCHAREST, Jan 23 (Reuters) - Italy's Intesa Sanpaolo
 ISP.MI  is among banks interested in Garanti BBVA Romania, the
country's 10th biggest bank by assets, a person familiar with
the matter said on Thursday, confirming a press report.
    Sources have said that Hungary's OTP Bank  OTPB.BU  has also
set its sights on Garanti BBVA Romania, a unit of Garanti BBVA
Turkey, which in turn is majority owned by Spanish banking group
Banco Bilbao Vizcaya Argentaria (BBVA)  BBVA.MC .  urn:newsml:reuters.com:*:nL8N29R2NR
    A competitive process to sell the bank started last year,
local press have reported.
    Garanti BBVA Romania declined to comment on the process.
    Il Sole 24 Ore daily said on Thursday the deal could be
worth 400 million euros ($444 million) and cited local rival
Banca Transilvania  ROTLV.BX  and Raiffeisen Bank as suitors.
    With one of the highest core capital buffers among top
Italian banks, Intesa runs the country's biggest commercial
banking network and has built a business model focused on fees
earned through its wealth management and insurance businesses. 
($1 = 0.9014 euros)

 (Reporting by Valentina Za and Luiza Ilie; Editing by Elaine
Hardcastle)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))