Today, BAWAG Group released its results for the first quarter 2025, reporting a net profit of € 201 million, earnings per share of € 2.54, and a RoTCE of 25.8%. Pre-provision profits were at € 336 million and the cost-income ratio at 37%. The first quarter 2025 represents the starting point as a larger group. After the closing of our most recent acquisition, Barclays Consumer Bank Europe, on February 1, 2025, the first quarter results include a full quarter of Knab and two months of Barclays Consumer Bank Europe.
The CET1 ratio was at 13.8%, in line with the pro-forma capital ratio at year-end 2024. This already considers the deduction of € 111 million dividend accrual for Q1 2025 as well as the self-funded acquisition of Barclays Consumer Bank Europe. On April 4, 2025, the Annual General Meeting approved the dividend for the financial year 2024 of € 5.50 per share, which was paid out on April 11, 2025. The NPL ratio was at 0.7% at the end of the first quarter, reflecting our consistently strong asset quality.
BAWAG Group also reconfirms the outlook for the financial year 2025 as well as its mid-term targets as presented on the investor day on March 4, 2025.
Anas Abuzaakouk, CEO, commented: "We delivered net profit of € 201 million, EPS of € 2.54, and a return on tangible common equity of 26% during the first quarter. The recent market volatility from the short-term impacts of changing tariffs and more long-term impacts on global trade will take some time to be fully understood. However, we have a solid foundation, a fortress balance sheet, and a leadership team that has worked together for over a decade navigating changing currents as we aim to be a source of strength for our customers and the communities we serve."
The earnings presentation is available on https://www.bawaggroup.com.
Delivering strong results in the first quarter 2025 as a larger group
| in € million | Q1 '25 | Q1 '24 | Change vs prior year (in %) | Q4 '24 | Change vs prior quarter (in %) |
| Core revenues | 534.8 | 392.8 | 36 | 449.6 | 19 |
| Net interest income | 445.8 | 317.1 | 41 | 368.4 | 21 |
| Net commission income | 89.0 | 75.7 | 18 | 81.2 | 10 |
| Operating income | 533.8 | 383.8 | 39 | 461.7 | 16 |
| Operating expenses | (197.6) | (126.2) | 57 | (164.8) | 20 |
| Pre-provision profit | 336.2 | 257.6 | 31 | 296.9 | 13 |
| Regulatory charges | (9.6) | (5.2) | 85 | (4.3) | >100 |
| Risk costs | (59.2) | (29.9) | 98 | 1.4 | - |
| Profit before tax | 268.0 | 222.8 | 20 | 296.1 | (9) |
| Net profit | 201.0 | 166.9 | 20 | 240.0 | (16) |
| RoTCE | 25.8% | 23.7% | 2.1pts | 31.6% | (5.8)pts |
| CIR | 37% | 32.9% | 4.1pts | 35.7% | 1.3pts |
| Earnings per share (€) | 2.54 | 2.11 | 20 | 3.03 | (16) |
| Liquidity Coverage Ratio (LCR) | 213% | 217% | (4)pts | 249% | (36)pts |
Earnings presentation
BAWAG Group will host the earnings call with our CEO Anas Abuzaakouk and CFO Enver Sirucic at 10 a.m. CEST on 29 April 2025. The webcast details are available on our website under Financial Results | BAWAG Group.
About BAWAG Group
BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving our over 4 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Ireland, the United Kingdom, and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.
BAWAG Group's Investor Relations website https://www.bawaggroup.com/ircontains further information, including financial and other information for investors.
Forward-looking statement
This release contains "forward-looking statements" regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "would," "could" and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management's expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking "safe harbor provisions".
Financial Community:
Jutta Wimmer
Media:
Manfred Rapolter
This text can also be downloaded from our website: https://www.bawaggroup.com
