The Austrian Bawag Group AG (ISIN: AT0000BAWAG2) is expected to start a share buyback of EUR 325 million on July 25, 2022, as the group announced on Wednesday evening. Appropriate approval for the share buyback by the European Central Bank (ECB) was delivered to Bawag on Wednesday. The share buyback is expected to run until December 30, 2022.
The Bawag Group announced its results for the first half of 2022 on Thursday. The group reports a net profit of EUR 245 million, an increase of 27 percent compared to the previous year (EUR 193 million). Earnings per share were EUR 2.74 (+ 27 percent). Core operating income increased by 9 percent to EUR 651 million in the first half of 2022. The cost/income ratio fell by 4.0 percentage points to 36.3 percent.
For 2022, the outlook for core operating income has been adjusted to growth of over 7 percent (previously over 4 percent).
Bawag Group AG is a holding company based in Vienna and serves around 2.2 million private, SME and corporate customers as well as customers in the public sector in Austria, Germany, Switzerland, the Netherlands and other developed markets. Bawag went public on October 25, 2017. The issue price was 48 euros.
Editorial team MyDividends.de
Leverage must be between 2 and 20
No data