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BAWAG P.S.K. Bank für Arbeit und Wirtschaft reported record net profit of EUR 333 million for 2014

Published: March 5, 2015; 08:34 · (Vindobona)

BAWAG P.S.K. today reported record net profit of EUR 333 million for 2014, up 45% compared to the year before. The increase was primarily driven by improvements in the Retail Banking and Small Business segment. Return on equity was 14.9%, up 3.3pts from last year. Net interest margin improved 46bps to 1.95% with business net interest margin up 27bps to 2.33%. Operating expenses were down 27% and the cost-income ratio down 12.7pts to 53.1%. Risk costs decreased by 24% with no material impairments. These strong results demonstrate the successful transformation of BAWAG P.S.K. over the last years.

BAWAG P.S.K. Bank für Arbeit und Wirtschaft reported record net profit of EUR 333 million for 2014 / Picture: © Vindobona

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annual report

BAWAG P.S.K. REPORTS 2014 RECORD NET PROFIT OF EUR 333 MILLION, +45%

o Net profit EUR 333 million, +45% versus prior year
o Return on equity 14.9%, +3.3pts
o Core revenues EUR 890 million, +16% This article includes a total of 1699 words.

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