BAWAG Group AG: Acquisition of Knab receives all regulatory approvals

Vienna (pta020/25.10.2024/20:15) - BAWAG Group is pleased to announce that it has received all necessary regulatory approvals for the acquisition of Knab, a bank based in the Netherlands. The deal is expected to close within days. This acquisition represents a significant milestone for BAWAG Group, expanding its presence in the Dutch Retail and SME banking sector, one of its core European markets. With Knab's established market position and customer base, the transaction enhances BAWAG Group's Retail and SME offerings and lays a solid foundation for future growth.

As of Q2 2024, Knab held €17.6 billion in total assets, primarily in Dutch mortgages, €12.3 billion in customer deposits, and €2.5 billion in covered bonds. Following the completion of the acquisition, BAWAG Group will work together with Knab's leadership team to continue growing its Retail and SME business in the Netherlands. The added operational support and financial resources from BAWAG Group will allow Knab to enhance its services while benefiting from the strength of a larger banking group.

Anas Abuzaakouk, CEO, commented: "We are excited about the acquisition of Knab and the many opportunities this presents for the Group. This is a great strategic fit in terms of customers, product offering, market presence and team members. We look forward to building on the strong Knab brand and expanding on the current offering of current accounts, mortgages, and savings products to meet the needs of our customers. I am excited to welcome the whole team and closely working together to further grow the franchise."

About BAWAG Group

BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.1 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

BAWAG Group's Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

Forward looking statement

This release contains "forward-looking statements" regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "would," "could" and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management's expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatso-ever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking "safe harbor provisions".

Contact:

Financial Community:
Jutta Wimmer (Head of Investor Relations)
Tel: +43 (0) 5 99 05-22474

IR Hotline: +43 (0) 5 99 05-34444
E-mail: investor.relations@bawaggroup.com

Media:
Manfred Rapolter (Head of Corporate Affairs)
Tel: +43 (0) 5 99 05-31210
E-mail: communications@bawaggroup.com

This text can also be downloaded from our website: https://www.bawaggroup.com

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