Brief: BAWAG Group FY Net Profit At EUR 683 Mln

BAWAG AG

01/02/2024 06:53

Feb 1 (Reuters) - BAWAG GROUP AG  BAWG.VI :
    * FY NET PROFIT € 683 MILLION AND ROTCE 25%
    * DIVIDEND PER SHARE  OF €5.00 FOR FY 2023
    * Q4 ’23 NET PROFIT OF € 177 MILLION AND ROTCE 25.7%
    * AVERAGE CUSTOMER DEPOSITS +2% AND AVERAGE CUSTOMER FUNDING
+2%
VERSUS PRIOR QUARTER
    * € 175 MILLION BUYBACK FULLY EXECUTED DURING Q4 ’23 AND
CANCELLED
3.9 MILLION SHARES
    * CET1 RATIO AT 14.7% AFTER DEDUCTING EARMARKED DIVIDEND OF
€ 393
MILLION FOR FY ‘23
    * TARGET FOR 2024: PROFIT BEFORE TAX > € 920 MILLION
    * RETURN TARGETS FOR 2024 & BEYOND: ROTCE > 20% AND CIR <
34%
    * AVERAGE CUSTOMER LOANS DECREASED BY 5% DURING 2023 MAINLY
DUE TO
LOWER VOLUMES IN CORPORATES AND REAL ESTATE

Further company coverage:  BAWG.VI 

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