Today, BAWAG Group announces the signing of a transaction to acquire Hello bank! Austria from BNP Paribas. Hello bank! Austria is a market leader in the online securities business and will be continued under the easybank brand. The acquisition complements easybank's business focus by providing additional expertise, enhanced capabilities, new opportunities, and a valued customer base within the securities business. The transaction is subject to customary closing conditions. The parties have agreed not to disclose the purchase price or any further details of the agreement.
Sat Shah, Head of Retail & SME and Deputy CEO of BAWAG Group: "The combination of Hello bank! Austria and easybank creates a leading brokerage business bolstering growth in our core retail franchise. The acquisition enables us to incorporate the expertise and scale of the Austrian market leader in online brokerage, expanding the product & service offerings to a broader range of customers. I'm excited to welcome the Hello bank! Austria customers along with our new colleagues into the BAWAG Group family."
About Hello bank! in Austria
Hello bank! is part of the BNP Paribas Group and has been a pioneer and market leader in online brokerage in Austria for more than 25 years. It supports its customers in taking their financial independence into their own hands. In Austria, Hello bank! serves around 80,000 customers with more than EUR 8 billion assets under management (AUM). As of the end of 2020, more than 1.8 million securities transactions were processed. Hello bank! offers the largest independent product range in the investment and trading segment at favorable conditions. Innovative trading platforms and digital tools, combined with favorable conditions and promotions, enable financial transactions to be processed independently of location and time, so that opportunities on the financial markets can be executed promptly. A special concern of Hello bank! is to impart financial and stock market expertise. The Hello bank! Academy offers a broad and free online education program with the aim of enabling people to make the right investment decisions at any time. The latest learning offer is the Hello Stock Market Driving License with more than 100 online lessons.
easybank is a leading direct banking brand in Austria with a strong track record of customer centricity having been awarded with the highest Net Promoter Score rankings nationally (Recommender Award) for ten consecutive years. Its strength is founded on its share of primary banking relationships, better understanding customer needs, and ultimately delivering direct banking products and services across various BAWAG Group channels.
About BAWAG Group
BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.3 million retail, small business, corporate 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. Delivering simple, transparent, and reliable financial products and services that address our customers' needs is our strategy across the Group.
This release and further information, including financial and other information for investors, are available on BAWAG Group's Investor Relations website (https://www.bawaggroup.com/ir).
Jutta Wimmer (Head of Investor Relations)
Phone: +43 (0) 5 99 05-22474
IR-Hotline: +43 (0) 5 99 05-34444
Manfred Rapolter (Head of Corporate Communications, Spokesman)
Phone: +43 (0) 5 99 05-31210