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disciplined cost management and simplified processes and deleveraging the balance sheet to increase capital and liquidity. As a result BAWAG P.S.K.’s profit before tax increased from €23 million in 2012 to €470 million in 2016, primarily resulting from stronger core revenues and reduced operating expenses. As part of BAWAG P.S.K.’s effort to reduce operating expenses, the bank implemented a new cost management approach, rationalized its business model and simplified its organizational structure. The bank also de-risked the balance sheet, which was achieved predominantly by reducing its exposure to
Central and Eastern Europe, exiting proprietary trading, reducing the non-performing loans volume and introducing improved performance management tools. Over the past years, BAWAG P.S.K. has also been able to strengthen its capital base due to mainly profit reinvestment that today more than meets the regulatory targets.
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359:
In April 2006, creditors of Refco sued BAWAG for over $ 1.3 billion, alleging that the bank had colluded to hide
Bennett's fraudulent transactions back to at least 2000, and that the bank owned far more of Refco than it had ever revealed in regulatory filings. In September 2006 a New York bankruptcy
332:
BAWAG P.S.K. is one of the largest banks in
Austria. By year-end 2016, BAWAG P.S.K. reported total assets of 39.7 billion euros, an operating income of 991 million euros, a profit before tax of 470 million euros and total equity of 3.1 billion euros. The number of employees amounted to 2,496. Anas
242:
As of 2016, the bank serviced more than 2.5 million customers all over
Austria. It serves Austrian retail, small business and corporate customers across the country, offering savings, payment, lending, leasing, investment, building society and insurance products and services. Two-thirds of the
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In 2012, BAWAG P.S.K. began executing a transformational initiative to improve and restructure its operations to improve its financial strength and efficiency. The key pillars of the transformation included re-focusing on core geographic markets and products, driving cost efficiency through
281:
P.S.K. was founded in 1883 as
Austrian Postal Savings Bank by Georg Coch offering the idea of saving to broad sections of the population, to ensure the security of the deposits by investing in government bonds only as well as to provide funding for the state.
319:
Since 2015, the Bank has gradually grown its business by several acquisitions: In 2015, the bank acquired the former VB Leasing and in 2016 start:bausparkasse and IMMO-Bank. In 2017, the acquisitions of PayLife and
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customer loans derive from
Austria. The international activities focus on retail, corporate, commercial real estate and portfolio lending in Western developed countries.
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to extend favourable terms of credit to ordinary people, as the 'Austrian Worker's Bank'. The bank was forced to close in 1934, but resumed its operations post
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bankruptcy, making BAWAG's collateral essentially worthless. Austria's central bank and
Austria's Financial Market Authority have started investigations.
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acquired BAWAG P.S.K. for reported €3.2 billion. In
October 2017, BAWAG Group AG, the holding company of BAWAG P.S.K., became a listed company on the
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BAWAG P.S.K. Bank fĂĽr Arbeit und
Wirtschaft und Ă–sterreichische Postsparkasse Aktiengesellschaft
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BAWAG P.S.K. has been designated as a
Significant Institution since the entry into force of
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411:"The list of significant supervised entities and the list of less significant institutions"
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After acquiring P.S.K. by BAWAG in 2000, both banks merged to form BAWAG P.S.K. in 2005.
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Retail and corporate banking with focus on Austria and select Western European countries
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court confirmed the comprehensive settlement between BAWAG, Refco and Refco creditors.
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617:"Anas Abuzaakouk appointed CEO of BAWAG P.S.K.; Byron Haynes to retire at year-end"
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Bank fĂĽr Arbeit und Wirtschaft und Ă–sterreichische Postsparkasse Aktiengesellschaft
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Abuzaakouk is Chairman of the Managing Board (CEO) since March 2017.
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in late 2014, and as a consequence is directly supervised by the
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In October 2005, BAWAG approved a loan of 425 million euros to
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376:"Trend" (Austrian business magazine), TOP 500, June 23, 2017
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Banks under direct supervision of the European Central Bank
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BAWAG was founded in 1922 by former Austrian Chancellor
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511:"SIX sells Commercial Issuing business to easybank"
658:"Vergleich BAWAG - Refco von US-Gericht bewilligt"
750:Vienna Stock Exchange: Market Data BAWAG Group AG
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734:Bawag Scrutiny Mounts, Putting CEO to the Test
588:"BAWAG P.S.K. Consolidated Annual Report 2017"
559:"BAWAG P.S.K. Consolidated Annual Report 2016"
482:"BAWAG P.S.K. Consolidated Annual Report 2016"
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914:YP Southeast Advertising & Publishing
453:"Shareholder Structure of BAWAG Group AG"
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643:"Refco's Creditors Sue Austrian Bank",
278:, the Austrian Trade Union Federation.
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270:in 1947. In 1963, it took the name of
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904:YP Connecticut Information Services
311:Old logo of BAWAG P.S.K. until 2007
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432:"List of supervised entities"
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919:YP Texas Region Yellow Pages
248:European Banking Supervision
83:; 102 years ago
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786:Cerberus Capital Management
597:. 1 March 2017. p. 174
491:. 1 March 2017. p. 129
302:GoldenTree Asset Management
298:Cerberus Capital Management
296:. Largest shareholders are
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1044:Companies based in Vienna
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745:BAWAG PSK Annual Reports
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645:The Wall Street Journal
970:Spyglass Entertainment
857:Shaw's and Star Market
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950:Blue Bird Corporation
909:YP Midwest Publishing
537:"BAWAG Group Website"
439:European Central Bank
418:European Central Bank
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294:Vienna Stock Exchange
252:European Central Bank
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119:Anas Abuzaakouk (CEO)
980:Stratolaunch Systems
924:YP Western Directory
736:, October 21, 2005,
985:Tower International
872:United Supermarkets
420:. 4 September 2014.
178:Number of employees
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391:www.bawaggroup.com
347:commodities broker
345:, then CEO of the
343:Phillip R. Bennett
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288:In December 2006,
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66:Arbeiterbank
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18:Bawag P.S.K. Group
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955:BlueLinx Holdings
539:. 2 November 2017
441:. 1 January 2023.
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16:(Redirected from
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707:Banks portal
665:. Retrieved
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300:(35.1%) and
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268:World War II
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213:BAWAG P.S.K.
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171:(31.12.2016)
164:Total equity
156:(31.12.2016)
149:Total assets
96:Headquarters
45:Company type
1013:WikiCommons
896:YP Holdings
862:Super Saver
729:BAWAG P.S.K
621:BAWAG Group
595:BAWAG Group
566:BAWAG Group
515:BAWAG Group
489:BAWAG Group
460:BAWAG Group
322:SĂĽdwestbank
264:Karl Renner
63:Predecessor
1028:Categories
827:Jewel-Osco
807:Albertsons
794:Albertsons
667:2017-11-06
627:2 November
601:2 November
572:2 November
543:2 November
521:6 November
495:2 November
466:6 February
396:2017-11-06
364:References
354:chapter 11
328:Operations
115:Key people
867:Tom Thumb
842:Pavilions
304:(25.7%).
194:.bawagpsk
1003:Category
847:Randalls
124:Products
55:Industry
960:DynCorp
852:Safeway
258:History
229:Austria
187:Website
107:Austria
86: (
78:Founded
58:Banking
822:Haggen
812:Amigos
662:OTS.at
233:P.S.K.
217:German
141:(2016)
101:Vienna
49:Public
938:Other
832:Lucky
817:Carrs
591:(PDF)
562:(PDF)
485:(PDF)
456:(PDF)
435:(PDF)
414:(PDF)
350:Refco
237:BAWAG
877:Vons
629:2017
603:2017
574:2017
545:2017
523:2017
497:2017
468:2018
235:and
225:bank
196:.com
88:1922
81:1922
276:Ă–GB
227:in
192:www
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