BAWAG to cut costs despite first profit in years


BAWAG PSK (BAWAG) boss Byron Haynes has said he will continue the current restructuring process.The former ABN AMRO CFO announced yesterday (Weds) BAWAG had to keep lowering its administration costs in the coming years.The Vienna-based institute achieved a net profit of 125.4 million Euros last year, the businessman added. It is the first time BAWAG […]

Basel III no further strain for BAWAG owners, CEO claims


BAWAG boss Byron Haynes has denied claims Cerberus Capital Management considered leaving the Austrian bank sooner than planned following the introduction of stricter banking regulations.Haynes stressed today (Weds) speculations that the US American investor would sell BAWAG sooner than expected because of the Basel III agreement were wrong. Cerberus committed to remain on board for […]