Even at the time of its foundation in 1974, the program of the BAWAG Foundation was aimed at promoting the dialogue between art and those interested in it. The Bank für Arbeit und Wirtschaft (Bank for Work and Economy) was one of the first Austrian companies that had taken on responsibility of actively supporting and propagating art.

None of their exhibitions have been profit-oriented, and admission is still free. Since 1995, the BAWAG Foundation has focused on contemporary art. Apart from its exhibition work, the foundation also actively builds its private collection.