Q2 2021 Earnings

Anas Abuzaakouk, CEO

Enver Sirucic, CFO

26 July 2021

Q2 2021 Highlights and segment performance

Detailed financials

Supplemental information

Group Overview & Strategy

26 July 2021 | BAWAG Group AG

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Highlights Q2 2021

EARNINGS

BALANCE SHEET

  • CAPITAL
    OUTLOOK
  • Net Profit of €119m in Q2 '21, EPS of €1.34, and RoTCE of 16.3%
  • Pre-provisionprofit of €181m and CIR at 40.1%
  • Risk cost of €24m … no ECL reserves released
  • Average customer loans stable vPQ and +3% vPY
  • CET1 ratio (post dividend) of 14.4%, up 40bps vYE
  • Dividend distributions … will propose €420m dividends (€4.72 per share) to AGM on 27 August '211) … accrued €95m H1 '21 dividend
  • Additional excess capital of €436m (post-dividend deductions) above 12.25% CET1 target
  • Targets for 2021 updated: RoTCE ~15% and CIR ~40%
  • New 4-year-plan thru 2025 will be communicated at our Investor Day on 20 September '21
  • €420m dividends (€4.72 per share) will be proposed to AGM on 27 August '211)
  • M&A: Signed deal to acquire Hello bank! Austria; Depfa deal expected to close in H2 '21

1) Dividend payout in early October

26 July 2021 | BAWAG Group AG

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Financial performance

Key highlights

P&L | € millions

Q2 '21

vPY

vPQ

H1 '21

vPY

Core revenues

302

6%

1%

599

4%

Operating income

303

6%

-

604

4%

Operating expenses

(121)

(3%)

-

(243)

(3%)

Pre-provision profit

181

14%

1%

361

9%

Regulatory charges

(2)

(20%)

(96%)

(56)

45%

Risk costs

(24)

(68%)

(19%)

(53)

(59%)

Profit before tax

156

93%

62%

253

55%

Net profit

119

94%

62%

193

56%

Ratios

RoCE

13.7%

6.3pts

5.1pts

11.1%

3.7pts

RoTCE

16.3%

7.3pts

6.1pts

13.2%

4.3pts

CIR

40.1%

(3.7pts)

(0.4pts)

40.3%

(2.6pts)

Risk cost ratio

0.23%

(0.51pts)

(0.06pts)

0.26%

(0.40pts)

Balance Sheet & Capital | € millions

Q2 '21

Q1 '21

vPQ

vYE

Total assets

54,132

52,970

2%

2%

Interest-bearing assets (average)

40,701

40,824

-

-

Customer loans (average)

32,480

32,494

-

1%

Customer deposits (average)

32,505

31,979

2%

2%

Common Equity

3,504

3,435

2%

2%

Tangible Common Equity

2,966

2,895

2%

3%

CET1 Capital

2,903

2,835

2%

4%

Risk-weighted assets

20,142

20,054

-

-

CET1 Ratio (post dividend)

14.4%

14.1%

0.3pts

0.4pts

Per share data

Q2 '21

vPY

vPQ

H1 '21

vPY

Earnings (€)

1.34

92%

61%

2.17

55%

Book value (€)

39.43

3%

2%

39.43

3%

Tangible book value (€)

33.38

5%

2%

33.38

5%

Shares outstanding (€ m)

88.86

1%

-

88.86

1%

Note: All equity, capital, ratios and per share data reflect deduction of remaining €420m earmarked dividend from 2019/2020 profits as well as €95m dividend accrual for H1 '21

26 July 2021 | BAWAG Group AG

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Capital development … CET1 ratio

Strong capital position

~+60bps

(Q2 '21 gross capital generation)

17.0%

b 2.1%

14.1%

0.6%

(0.3%)

14.4%

a 0.5%

Q1 2021

Earnings

Dividend

Q2 2021

Dividend

Q2 2021

accrual

accrual

pre-

dividend

(FL)

Capital distribution plans

  1. €95m dividends accrued based on dividend policy for H1 '21 earnings

→b €420m dividends (€4.72 per share) relating to

2019/2020 profits will be proposed to AGM on

27 August '211)

Capital development

+60bps gross capital generation in Q2 '21

Excess capital

Additional excess capital €436m (post-dividend deductions) above 12.25% CET1 target

Other items

City of Linz receivable fully provisioned through prudential filter in 2020 with no impact on capital distribution plans in worst-case scenario

.1) Dividend payout in early October

26 July 2021 | BAWAG Group AG

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BAWAG Group AG published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 05:07:05 UTC.