BAWAG P.S.K. Company Structure and Financials

BAWAG P.S.K. is a significant player in the Austrian banking sector, with a company structure that supports its operations. The bank is organized into several business units, including Private Banking, Corporate and Investment Banking, and Retail Banking.

The bank's private banking division offers customized financial solutions to high net worth individuals. It has a strong presence in Austria and a growing international network.

BAWAG P.S.K. has a significant presence in the Austrian market, with a network of over 400 branches. It also has a strong online presence, with a user-friendly digital banking platform.

The bank's financials are stable, with a strong capital base and a solid profitability record.

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BAWAG P.S.K. has a rich history that dates back to 1883 when it was founded as Austrian Postal Savings Bank by Georg Coch, offering savings to broad sections of the population.

The bank was initially focused on providing funding for the state and ensuring the security of deposits by investing in government bonds only.

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In 1922, BAWAG was founded by former Austrian Chancellor Karl Renner 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 World War II in 1947.

BAWAG took the name of Bank für Arbeit und Wirtschaft AG, BAWAG, or, in English, 'Bank for Labour and Business Corporation', in 1963.

Until 2006, the bank's majority shareholder was the ÖGB, the Austrian Trade Union Federation.

In 2000, BAWAG acquired P.S.K. and the two banks merged to form BAWAG P.S.K. in 2005.

In 2012, BAWAG P.S.K. began executing a transformational initiative to improve and restructure its operations to improve its financial strength and efficiency.

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The BAWAG P.S.K. has its headquarters in the "B-Turm" at The Icon Vienna, located at Wiedner Gürtel 11 in the 10th district of Favoriten. This is a change from their previous headquarters at the Wiener Postsparkasse, which they occupied until February 2019.

The company has a significant presence in Austria, with a 100% stake in easybank and SPARDA Bank Wien, which merged with BAWAG P.S.K. in 2009. They also own a 100% stake in Paylife and start:bausparkasse in Österreich, which they acquired in 2016.

BAWAG P.S.K. has a diverse portfolio of subsidiaries, including easybankSPARDA Bank WienÖsterreichische VerkehrskreditbankPaylifestart:bausparkasse in Österreich

The company has its headquarters in the "B-Turm" at The Icon Vienna, which is owned by Signa Holding. This is located near the Vienna Main Station at Wiedner Gürtel 11 in the 10th district of Favoriten.

The company's headquarters was previously located at the historic Wiener Postsparkasse, a landmark building at Georg-Coch-Platz 2, until February 2019.

The company sold several of its properties, including the Bank- und Wohnhaus in Seitzergasse 2-4 and the Tuchlauben 5 building, to a consortium led by real estate investor René Benko.

The company's current headquarters has a specific address: Wiedner Gürtel 11 in the 10th district of Favoriten.

The Aktionärsstruktur, or shareholder structure, of BAWAG Group AG is a fascinating topic. 71.98% of the company is held in the streubesitz, or free float, category. This means that a significant portion of the company's shares are publicly traded and can be bought and sold by anyone.

The largest shareholder of BAWAG Group AG is GoldenTree Asset Management LP, which holds 12.06% of the company's shares. This is a significant stake, and it's interesting to note that this investment firm is known for its focus on distressed debt and other alternative investments.

Other notable shareholders include T. Rowe Price International Ltd. and T Rowe Price International Value Equity Fund, which hold 5.61% and 2.31% of the company's shares, respectively. These institutions are well-known for their investment expertise and have a significant presence in the global financial markets.

Here's a breakdown of the top shareholders of BAWAG Group AG:

The remaining shares are held by various other institutions and individuals, including the Government Pension Fund – Global and TM Crux OEIC – European Special Situations Fund.

BAWAG P.S.K. focuses on delivering simple, transparent, and high-quality products and services that meet customer needs across all business segments. The bank serves a wide range of customers, including retail, SME, and corporate clients.

The bank offers a variety of products, such as savings, payment, loan, leasing, and investment products, as well as building society savings and insurance products. These products are available through various online and offline sales channels.

BAWAG P.S.K. aims to enable customers to conduct their banking transactions as easily and conveniently as possible.

BAWAG P.S.K. focuses on delivering simple, transparent, and high-quality products and services to meet customer needs. The bank serves a wide range of customers, including retail, SME, and corporate clients.

The bank offers a variety of savings, payment, loan, leasing, and investment products. Building society savings and insurance products are also available through online and offline sales channels.

BAWAG P.S.K. aims to make banking transactions as easy and convenient as possible for customers. The slogan "Bessere Antworten Wie Alles Geht" reflects the bank's philosophy.

BAWAG P.S.K. can be reached at Wiedner Gürtel 11, 1100 Vienna, or by phone at +43059905995.

As of April 1st, 2020, BAWAG customers can take advantage of the new Cash-In Service at over 1,800 post office locations across Austria.

This service allows you to deposit cash directly at the counter, eliminating the need for a separate deposit slip. You can use a Cash-In Service voucher, which will be provided to you by your sales manager.

To set up the Cash-In Service, you'll need to sign a contract with a valid signature and send it via email to corporate_giro.bawagpsk.com. You can also use the voucher for deposits at BAWAG branches.

The Cash-In Service requires a BAWAG business account and the use of a Cash-In Service voucher, which can be obtained after signing the contract. You'll need to provide a valid ID when making a deposit.

Please note that deposits at post office locations are only possible if the Cash-In Service contract is signed and you have a sufficient supply of Cash-In Service vouchers.

Here are the costs associated with the Cash-In Service:

For SEPA-Lastschriften, there's a uniform deadline for submissions that applies to all transactions, regardless of the Rulebook used. This deadline is one day before the due date.

Since 21.11.2016, the submission deadline for SEPA-Lastschriften is one day before the due date. To ensure compliance with this deadline, it's sufficient to submit SEPA-Lastschriften to BAWAG P.S.K. by 9:00 AM on the day before the due date, regardless of the transaction type or submission channel.

The use of CAMT (Cash Management) messages provides several benefits to business customers, including the uninterrupted forwarding of payment information, structured representation of payment information, and uniform field designations in XML messages.

Here are the benefits of using CAMT messages:

BAWAG P.S.K. offers a range of financial services, including online banking, mobile banking, and a wide range of financial products.

Their online banking platform allows customers to manage their accounts, pay bills, and transfer funds from the comfort of their own homes. This convenience is especially useful for those with busy schedules.

BAWAG P.S.K. also offers a mobile banking app, which provides customers with real-time access to their accounts and allows them to perform various banking tasks on the go.

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As of June 9th, 2022, BAWAG P.S.K. will be expanding its cut-off times for SEPA credit transfers.

Over the past few years, I've noticed that banks are constantly updating their cut-off times to make transactions faster and more efficient. Now, overweisungsaufträge that arrive before 9:00 am will be processed on the same day.

This change is particularly beneficial for salary and wage payments, as it eliminates the need for "splitting" when transferring funds. The "Durchführungsdatum" in the transfer file will then match the recipient's currency.

To take advantage of this, it's recommended to submit transfer requests the day before or evening prior to the desired processing date. This ensures that the transfer is processed with the desired currency.

Here's a breakdown of how transfers will be processed:

The UK remains part of the SEPA payment area, making it possible to send and receive payments via SEPA transfers and SEPA direct debits.

As of January 1, 2021, payments to the UK are no longer subject to EU price regulation, which means that additional fees for international transactions may apply.

For payments to the UK, the IBAN should start with "GB" (Great Britain and Northern Ireland) or "GI" (Gibraltar), and the BIC should also start with "GB" or "GI" at the fifth or sixth position.

Customers need to provide complete payer data, including name and full address, for payments outside the EU/EEA area.

For direct debits, the payer's complete data must be provided by the direct debit originator, including full name and address.

Incomplete or incorrect data can lead to returned payments and separate fees.

Here are the required data for international payments:

For direct debits, the following data is required:

The Austrian government provided significant financial support to the BAWAG bank during the 2009 banking crisis, injecting 550 million euros in the form of participatory capital.

This investment was later repaid, with 200 million euros returned to the state in 2013 and the remaining 350 million euros paid back in March 2014.

In total, the Austrian government received 784 million euros from the BAWAG, including 234 million euros in dividend payments.

The BAWAG P.S.K. has undergone several significant mergers and acquisitions throughout its history.

In 2000, the BAWAG acquired 74.82% of the Österreichischen Postsparkasse (P.S.K.) from the Republic of Austria.

The BAWAG then completed its acquisition of the remaining 25.18% of the P.S.K. in 2003, which had been held by a consortium of the Bavarian State Bank and the Austrian Trade Union Federation (ÖGB) since 2000.

The BAWAG and P.S.K. merged to form the BAWAG P.S.K. in 2005, creating Austria's fourth-largest banking group.

The ÖGB's stake in the BAWAG P.S.K. was transferred to a new holding company, Anteilsverwaltung BAWAG P.S.K. AG (AVB), which became the parent company of the bank.

The ÖGB had taken on significant debt to finance its stake in the BAWAG P.S.K., which was later revealed to be 1.531 billion euros.

In 2006, the ÖGB decided to sell its entire stake in the BAWAG P.S.K. due to the bank's poor financial situation.

In 2017, the BAWAG acquired the German Südwestbank, whose business area is located in Baden-Württemberg. This acquisition was part of the BAWAG's expansion plans in Germany.

The Südwestbank was previously owned by Andreas and Thomas Strüngmann, who sold it to the BAWAG. The acquisition was a strategic move by the BAWAG to establish a platform for further expansion in Germany.

The BAWAG took over the Südwestbank in accordance with an agreement made in July 2017.

In 2000, BAWAG bought 74.82% of the Österreichischen Postsparkasse (P.S.K.) from the Republic of Austria.

The P.S.K. offered financial services through the Austrian postal network.

By November 2003, BAWAG acquired the remaining 25.18% of P.S.K. shares, which had been held by the Bayerische Landesbank and the ÖGB since 2000.

In 2005, BAWAG fully merged with P.S.K. to form BAWAG P.S.K., becoming the fourth-largest banking group in Austria.

As part of this final merger, the "old" BAWAG was renamed Anteilsverwaltung BAWAG P.S.K. AG (AVB) and became a financial holding company, holding the ÖGB's shares in BAWAG P.S.K.

The AVB transferred as many internal funds as possible to the operating bank, resulting in a staggering €1.531 billion in debt owed by the ÖGB to the AVB.

This debt wasn't publicly disclosed until June 2006, causing significant consequences for the ÖGB.

BAWAG P.S.K. went public in 2017 with a stock market listing on the Vienna Stock Exchange, raising a significant 1932 million euros. This made it one of the largest stock market listings on the Vienna Stock Exchange.

The IPO took place in October 2017, marking a major milestone for the company. The shares of BAWAG P.S.K. started trading on the Prime Market in Vienna on October 25, 2017.

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