BAWAG Group AG: Acquisition of Barclays Consumer Bank Europe receives all regulatory approvals

Wien (pta035/09.01.2025/20:25) - BAWAG Group today announces that it has received all regulatory approvals for the acquisition of the Hamburg-based Barclays Consumer Bank Europe from Barclays Bank Ireland PLC. The deal is expected to close within the coming weeks. The acquisition is another significant milestone for BAWAG Group, expanding its footprint in the DACH/NL region and positioning it for future growth in one of the bank's core markets. BAWAG Group will work with the current leadership team to continue growing its Retail business in Germany and the broader DACH/NL region.

"We are excited about the acquisition of Barclays' German consumer lending business and the many opportunities this presents for the Group. This is a great strategic fit in terms of product offering, market presence, customer base, and team members with deep credit cards and consumer lending expertise. I am excited to welcome the whole team and working together to grow the franchise in the years ahead," comments Anas Abuzaakouk , CEO of BAWAG Group.

BAWAG Group will report FY 2024 results on March 4, 2025 and will host an Investor Day on the same day.

About Barclays Consumer Bank Europe

Barclays Consumer Bank Europe has been operating successfully in Germany for more than 30 years and is one of the leading providers of credit cards with a genuine credit function. The company's other business areas include consumer loans, installment purchase financing via the online retailer Amazon and overnight money accounts. Further information can be found at http://www.barclays.de.

About BAWAG Group

BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.5 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 whatsoever (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 Communications and Social Engagement)
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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