Use the WScript.Shell instead, because it has a waitOnReturn option:
Dim wsh As Object
Set wsh = VBA.CreateObject("WScript.Shell")
Dim waitOnReturn As Boolean: waitOnReturn = True
Dim windowStyle As Integer: windowStyle = 1
wsh.Run "C:\folder\runbat.bat", windowStyle, waitOnReturn
(Idea copied from Wait for Shell to finish, then format cells – synchronously execute a command)