BAWAG Group AG: Best Banking Group Governance DACH 2019
Austria-based banking conglomerate BAWAG Group AG – its roots date back to 1883 – has been a major contributor to the stable economy of the DACH region (Switzerland, Austria and Germany). DACH has benefited from good governance and efficient operations — two areas of specialisation for BAWAG Group. It underwent a fundamental bottom-up analysis to pinpoint transformation strategies that would improve customer service, maximise cost efficiency, and strengthen its commitment to corporate social responsibility (CSR). BAWAG Group views CSR as an ethical framework to support and guide its business pursuits. It has developed a comprehensive plan to unlock organic growth, balanced with economic, environmental and social objectives. BAWAG Group follows a four-pillar growth strategy that focuses on expanding core markets, driving efficiency through operational excellence, maintaining a safe and secure risk profile, and easing the lives of its customers. Throughout the group’s subsidiaries — including one of Austria’s largest banks, with 2.5m customers — the employees abide by the company’s exacting code of conduct and support the UN’s Global Compact Principles, Women’s Empowerment Principles, and Sustainable Development Goals. The group sets the bar high for corporate governance as well as for performance, and 2018 profit before tax increased by 14 percent compared to 2017. The CFI.co judging panel believes the group’s focus on efficiency has been crucial to its impressive shareholder returns and customer service, and has benefited the environment. The judges congratulate BAWAG Group AG, winner of the 2019 award for Best Banking Group Governance (DACH).
