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Today, BAWAG Group released its results for the first quarter 2025, reporting a net profit of € 201 million, earnings per share of € 2.54, and a RoTCE of 25.8%. Pre-provision profits were at € 336 million and the cost-income ratio at 37%. The first quarter 2025 represents the starting point as a larger group. After the closing of our most recent acquisition, Barclays Consumer Bank Europe, on February 1, 2025, the first quarter results include a full quarter of Knab and two months of Barclays Consumer Bank Europe.
The CET1 ratio was at 13.8%, in line with the pro-forma capital ratio at year-end 2024. This already considers the deduction of € 111 million dividend accrual for Q1 2025 as well as the self-funded acquisition of Barclays Consumer Bank Europe. On April 4, 2025, the Annual General Meeting approved the dividend for the financial year 2024 of € 5.50 per share, which was paid out on April 11, 2025. The NPL ratio was at 0.7% at the end of the first quarter, reflecting our consistently strong asset quality.
BAWAG Group also reconfirms the outlook for the financial year 2025 as well as its mid-term targets as presented on the investor day on March 4, 2025.
Anas Abuzaakouk, CEO, commented: “We delivered net profit of € 201 million, EPS of € 2.54, and a return on tangible common equity of 26% during the first quarter. The recent market volatility from the short-term impacts of changing tariffs and more long-term impacts on global trade will take some time to be fully understood. However, we have a solid foundation, a fortress balance sheet, and a leadership team that has worked together for over a decade navigating changing currents as we aim to be a source of strength for our customers and the communities we serve.”
The earnings presentation is available on https://www.bawaggroup.com.
Delivering strong results in the first quarter 2025 as a larger group
| in € million | Q1 '25 | Q1 ‘24 | Change vs prior | Q4 '24 | Change vs prior quarter (in %) |
| Core revenues | 534.8 | 392.8 | 36 | 449.6 | 19 |
| Net interest income | 445.8 | 317.1 | 41 | 368.4 | 21 |
| Net commission income | 89.0 | 75.7 | 18 | 81.2 | 10 |
| Operating income | 533.8 | 383.8 | 39 | 461.7 | 16 |
| Operating expenses | (197.6) | (126.2) | 57 | (164.8) | 20 |
| Pre-provision profit | 336.2 | 257.6 | 31 | 296.9 | 13 |
| Regulatory charges | (9.6) | (5.2) | 85 | (4.3) | >100 |
| Risk costs | (59.2) | (29.9) | 98 | 1.4 | — |
| Profit before tax | 268.0 | 222.8 | 20 | 296.1 | (9) |
| Net profit | 201.0 | 166.9 | 20 | 240.0 | (16) |
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| RoTCE | 25.8% | 23.7% | 2.1pts | 31.6% | (5.8)pts |
| CIR | 37% | 32.9% | 4.1pts | 35.7% | 1.3pts |
| Earnings per share (€) | 2.54 | 2.11 | 20 | 3.03 | (16) |
| Liquidity Coverage Ratio (LCR) | 213% | 217% | (4)pts | 249% | (36)pts |
Earnings presentation
BAWAG Group will host the earnings call with our CEO Anas Abuzaakouk and CFO Enver Sirucic at 10 a.m. CEST on 29 April 2025. The webcast details are available on our website under Financial Results | BAWAG Group.