Bawag Profit Up 16% on PTSB Deal

Bawag Group AG posted Q1 net profit of €232 million, a 16% YoY increase, with EPS of €3.
Core revenues rose 8% to €579 million, driven by 8% net interest income growth and 11% fee income rise.
Operating expenses fell 5% to €188 million, improving the cost‑income ratio to 32.5% and boosting RoTCE to 27.6%.
Bawag agreed an all‑cash offer for Irish lender PTSB, aiming to exceed €100 billion assets and generate €250 million profit by 2028.