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AUSTRIA |
Best Bank: Bawag | |
Prudent risk management, sustainable growth and outstanding efficiency earn Bawagthis year’s award for Austria’s best bank. Despite the Covid crisis, the listed lender, which also has banking operations in Germany, Switzerland and the Netherlands, managed to post a net profit of €284 million and a return on tangible common equity (ROTCE) of 10% last year despite conservative provisioning. The retail and small and medium-sized enterprise segments were key drivers of the group’s impressive results, delivering a pre-tax profit of €374 million and an ROTCE of 22%.
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