Bawag Pays €110M for Separation from Austrian Post

Professional ServicesFinancial Services ♦ Published: February 28, 2018; 07:26 ♦ (Vindobona)

Bawag presents its preliminary figures for 2017. The net profit will amount to 466.6 million euros (-1.4 percent). Due to profits, there will be dividend payments to shareholders. The long-term distribution partnership with Austrian Post is to be terminated.

Bawag Pays €110M for Separation from Austrian Post / Picture: © BAWAG

In total, the termination of the postal offices distribution agreement will cost Bawag around 110 million euros.

Bawag, which has been listed on the stock exchange since autumn, reports record numbers before taxes for 2017

The year ended with a pre-tax profit of 517 million euros, 12 percent more than in 2016.

After the original shareholders had gone out…