BAWAG Group
Austrian bank BAWAG was established in 1922 and stands for Bank für Arbeit und Wirtschaft in German. It merged with the independent Austrian Postsparkasse (P.S.K.) on October 1, 2005, to create the "Bank für Arbeit und Wirtschaft und sterreichische Postsparkasse AG," also known as BAWAG P.S.K. The holding company of BAWAG P.S.K., BAWAG Group AG, was admitted to the Vienna Stock Exchange in October 2017. The two biggest owners are T. Rowe Price (5.6%) and GoldenTree Asset Management (21.8%).
GB made the decision to sell its whole ownership in BAWAG in March 2006 because that shareholder was also having financial issues. In the end, Cerberus won out over rivals Bayerische Landesbank, Allianz, and Lone Star Funds in December 2006, acquiring 90% of BAWAG for €3.2 billion. The Wüstenrot-Gruppe (1%), Generali (2%–3%), the Austrian Post (5%), and Hannes Androsch are other stockholders.
BAWAG Group's market capitalization as of April 2023 is $4.08 billion. By market cap, this places BAWAG Group as the 2687th most valuable company in the world. The most recent financial reports from BAWAG Group indicate that the company's current revenue (TTM) is $1.42 billion. The company generated $1.41 billion in revenue in 2018, an increase from $1.25 billion in 2017.
Founded: 1922
Headquarters: Vienna, Austria
Website: www.bawagpsk.com
