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BAWAG Group AG: Acquisition of DEPFA BANK by BAWAG Group successfully completed

Vienna (pta/19.11.2021/14:20 UTC+1) Today, BAWAG Group announces the successful completion of the acquisition of DEPFA BANK plc, and its subsidiary DEPFA ACS Bank DAC, from Germany's FMS Wertmanagement AöR ("FMS-WM"). Following the receipt of all regulatory approvals, the transaction announced in February has now been successfully completed.

Anas Abuzaakouk, CEO of BAWAG Group: "Today is another important step forward as we continue to execute on our strategy. The acquisition of DEPFA represents an attractive and capital accretive investment opportunity. This allows us to acquire high-quality low-risk assets, leverage our balance sheet and experience in the public sector space, and draw upon our operational capabilities to execute an orderly and expedited wind-down of the Bank."

DEPFA Group, headquartered in Dublin Ireland, was part of the Hypo Real Estate Holding AG, which was nationalized in 2009. Prior to nationalization, DEPFA Group primarily focused on issuing public sector covered bonds. DEPFA Group was acquired by FMS-WM in 2014 and has been in the process of winding down its banking operations since 2009. BAWAG Group will continue to ensure an orderly wind-down of the bank drawing on the infrastructure and operational capabilities of the broader group.

DEPFA's name is derived from Deutsche Pfandbriefbank. DEPFA provided a range of financial products to the public sector and was the issuer of Irish Public Sector Covered Bonds via its subsidiary DEPFA ACS Bank DAC. After a bailout the German government ended up with 100% ownership of DEPFA's parent company HRE Group in 2009. Since the bailout by the government the focus of the DEPFA Group management and employees has been to manage and rundown its public sector finance asset base. On 19th December 2014 DEPFA Group became a wholly owned subsidiary of the German state agency FMS Wertmanagement AöR (FMS-WM), which was established in 2010 as the Federal Republic of Germany's winding up institution for the nationalised HRE Group. FMS-WM is under the direct control of the German Financial Markets Stabilisation Fund ("FMS"), which is managed by the Federal Agency for Financial Market Stabilisation ("FMSA"). DEPFA Group has not undertaken new business commitments since then. DEPFA Group continues to preserve capital and wind down its portfolio in a manner designed to maintain value.

About BAWAG Group
BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.3 million retail, small business, corporate, real estate 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. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

BAWAG Group's Investor Relations website contains further information, including financial and other information for investors.

Contact us:

Financial Community:
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


Emitter: BAWAG Group AG
Wiedner Gürtel 11
1100 Wien
Contact Person: BAWAG Group Investor Relations
Phone: +43 (0)59905-34444
ISIN(s): AT0000BAWAG2 (Share)
Stock Exchange(s): Vienna Stock Exchange (Official Trade)