Binder Grösswang advises BNP Paribas on the sale of Hello bank! Austria to BAWAG P.S.K.
Binder Grösswang advised the leading international bank BNP Paribas on the sale of Austria’s largest online-broker Hello bank! to BAWAG P.S.K.. The signing took place on July 22, 2021. The closing is expected by the end of 2021.
The leading Austrian online brokerage business of Hello bank! with more than 80,000 customers will be continued under the brand easybank in the future. The acquisition is intended to further expand the BAWAG Group's securities offering. The easybank brand is characterized by a high level of customer contact and satisfaction. The aim of the transaction is to combine the strengths of the two companies and to strengthen the core retail business.
About Hello bank!
Hello bank! is part of the BNP Paribas Group and has been a pioneer and market leader in online brokerage in Austria for more than 25 years. It supports its customers in taking their financial independence into their own hands. At the end of 2020, it processed more than 1.8 million securities transactions.
easybank is a leading direct banking brand in Austria and has been awarded the highest Net Promoter Score ranking (Recommender Award) for ten consecutive years. Its strength is based on customer relationships and banking products that enable it to understand its customers and offer products and services through various channels.
About BNP Paribas
BNP Paribas is one of the leading foreign banks in Austria combining financial strength, a strong balance sheet, a vast international network and an in-depth knowledge of Austrian clients. The BNP Paribas Group has a presence in Austria since the year 2000 and has been ever since increasing its commitment to the corporate sector in Austria.
The Binder Grösswang deal team was led by M&A partner Thomas Schirmer and included Stephan Heckenthaler (Banking & Finance), Christoph Schober, Felix Fuith, Pia-Alena Havel (all Corporate / M&A), Clemens Willvonseder (Tax), Horst Lukanec and Manuel Müllner (Labor Law), Markus Uitz and Artan Duraku (Real Estate) and Christine Dietz (Competition Law).