Austria · Delayed Price · Currency is EUR BAWAG Group AG Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong profitability, robust capital, and solid credit quality, with net profit of EUR 232 million and ROTCE of 28%. The PTSB acquisition will boost assets by 40% and is expected to be accretive from day one, with 2026 financial targets reconfirmed.
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The acquisition of Ireland’s third-largest bank will expand group assets to over EUR 100 billion and is expected to deliver over 20% EPS accretion within three years of completion. The deal is fully self-funded, maintains PTSB’s branch network, and supports a pan-European growth strategy.
Fiscal Year 2025
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Record 2025 net profit of EUR 860 million and strong Q4 results were driven by robust loan growth, improved margins, and successful integrations. Updated guidance targets 12% net profit CAGR through 2028, with over EUR 1.5 billion in excess capital projected for growth, M&A, or distributions.
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Q3 2025 saw strong profitability, robust credit performance, and disciplined capital management, with integration of recent acquisitions driving operational efficiencies. The group is on track to exceed 2025 targets, maintaining a solid balance sheet and prudent risk approach.
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Q2 2025 saw net profit of EUR 210 million, strong capital and liquidity, and robust credit quality. Retail and SME lending drove growth, while mortgage and corporate lending remained muted. Integration of recent acquisitions is on track, with stable outlook for NII and expenses.
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Q1 2025 saw net profit of EUR 201 million, strong income growth, and robust asset quality, with successful integration of recent acquisitions. CET1 ratio stands at 13.8%, and 2025 profit targets are reaffirmed despite macro uncertainty.
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Guidance targets over €1.4 billion earnings by 2027, driven by acquisitions, margin recovery, and cost discipline. Retail and SME focus, digital expansion, and patient capital deployment underpin growth, with M&A on hold until 2026. Capital returns prioritized above 13% CET1.
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Aiming for over €1 billion net profit and €1 billion excess capital by 2027, the group leverages digital transformation, disciplined M&A, and a strong culture to drive growth and efficiency. Recent acquisitions and technology investments position it for continued outperformance.
Fiscal Year 2024
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Record 2024 net profit of €760 million and ROTCE of 26% were achieved, with strong loan and deposit growth driven by Knab and Barclays acquisitions. 2025 targets include net profit above €800 million, EPS over €10, and continued ROTCE above 20%.
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Q3 saw strong profitability with net profit of EUR 178 million and a CET1 ratio of 17.2%. Full-year profit before tax guidance was raised above EUR 950 million, reflecting the Knab acquisition, while risk costs remained low and capital strength was maintained.
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Q2 net profit reached EUR 175 million with strong asset quality and a CET1 ratio of 16.5%. Two strategic acquisitions are set to drive future growth, with integration expected to be highly accretive. 2024 guidance remains for modest revenue and profit growth, with stable risk metrics.