The roots of BAWAG P.S.K. – one of the leading banks in Austria today – go back to the year 1883, when the bank was founded as "k.k.Postsparcassen-Amt" under the Emperor Franz Joseph I. The merger of two storied banks, BAWAG and P.S.K., on 1 October 2005 created the largest customer bank in Austria: the new BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG, or BAWAG P.S.K. for short.
The bank's business segments are Retail Banking and Small Business, Corporate Lending and Investments, and Treasury Services and Markets, serviced by Corporate Center support functions. Delivering competitive, transparent and simple products and services drives the strategy in each business area.
Applying an efficient lower-risk business model, BAWAG P.S.K. currently has over 78% of our customer loans and receivables within Austria and pursues additional activities in selected international markets with a focus on Western Europe. Over the last two years, the bank continued to reduce non-core areas of business (i.e. discontinuation of proprietary trading activities, sale of legacy structured credit securities portfolio) and further reduced its CEE loan exposure to below 2% of total assets in order to focus on core operations in Austria and Western Europe.
BAWAG P.S.K. provides its services to a total of 1.6 million customers and increased its retail customer base by more than 22,000 customers on a net basis during 2013.
The bank is owned by the controlling shareholder Cerberus Capital Management L.P. (~52%), one of the leading private investment firms (2007), and the significant minority shareholder GoldenTree Asset Management LP (~39%), one of the largest independent asset management companies (2012). Amongst the indirect shareholders are Austrian co-investors including Österreichische Post AG, Generali Holding Vienna AG and Wüstenrot Wohnungswirtschaft reg.Gen.m.b.H. as well as a group of several Austrian industrialists (2007).
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