<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2025 Workiva-->
<!--r:1897fd1c-e071-4334-a14a-396c9dad4649,g:a66fe3c5-0b18-43b6-988a-1904e7814a6c-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.bawaggroup.com/role/GEWINNUNDVERLUSTRECHNUNG" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#GEWINNUNDVERLUSTRECHNUNG"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/GEWINNUNDVERLUSTRECHNUNG" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_NetInterestIncome_a3c1fe33-3e57-4c3b-8728-fed91f53bf4d" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_NetInterestIncome"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_bawaggroupag_NetInterestIncome_a3c1fe33-3e57-4c3b-8728-fed91f53bf4d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionIncomeExpense_fddb637e-72ab-414f-b94b-7285d007d445" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FeeAndCommissionIncomeExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_ifrs-full_FeeAndCommissionIncomeExpense_fddb637e-72ab-414f-b94b-7285d007d445" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_GainsAndLossesOnFinancialAssetsAndLiabilities_8192cc05-9bdc-4ab6-bd4c-2178197641b8" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_GainsAndLossesOnFinancialAssetsAndLiabilities"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_bawaggroupag_GainsAndLossesOnFinancialAssetsAndLiabilities_8192cc05-9bdc-4ab6-bd4c-2178197641b8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherIncome_1a8b6438-70ec-4ea9-a1f7-4381dad9c744" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherIncome"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_ifrs-full_OtherIncome_1a8b6438-70ec-4ea9-a1f7-4381dad9c744" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherExpenseByNature_6a591538-0fa3-4009-81c5-c53b430c3a1c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherExpenseByNature"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_ifrs-full_OtherExpenseByNature_6a591538-0fa3-4009-81c5-c53b430c3a1c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OperatingExpense_372e6766-9551-4ee0-8700-83e292cf7dc6" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OperatingExpense"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_ifrs-full_OperatingExpense_372e6766-9551-4ee0-8700-83e292cf7dc6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_RiskCosts_1f4e4e4d-d5bb-41cc-a991-5603575253d9" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_RiskCosts"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_bawaggroupag_RiskCosts_1f4e4e4d-d5bb-41cc-a991-5603575253d9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_5553f86a-33e6-40a0-8328-8a046863ecd7" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLossBeforeTax_db477c78-aa0a-499e-bad9-cd8dd958bfc3" xlink:to="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_5553f86a-33e6-40a0-8328-8a046863ecd7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss_26a1e834-3786-4318-87de-13b2fab21e5a" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossBeforeTax_b29a3cfd-9750-4366-afa1-08eb7602afc5" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLossBeforeTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_26a1e834-3786-4318-87de-13b2fab21e5a" xlink:to="loc_ifrs-full_ProfitLossBeforeTax_b29a3cfd-9750-4366-afa1-08eb7602afc5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations_c5c4a508-cfa8-447e-8154-e4cf72be78a7" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ProfitLoss_26a1e834-3786-4318-87de-13b2fab21e5a" xlink:to="loc_ifrs-full_IncomeTaxExpenseContinuingOperations_c5c4a508-cfa8-447e-8154-e4cf72be78a7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionIncomeExpense_8ac4f976-e3f1-4836-993a-0fc6731ef7ba" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FeeAndCommissionIncomeExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionIncome_be30086b-5d11-4e46-a1b1-6566bcfb27bf" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FeeAndCommissionIncome"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FeeAndCommissionIncomeExpense_8ac4f976-e3f1-4836-993a-0fc6731ef7ba" xlink:to="loc_ifrs-full_FeeAndCommissionIncome_be30086b-5d11-4e46-a1b1-6566bcfb27bf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionExpense_f2aad2b4-fc68-424e-b221-9780d7c0ab49" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FeeAndCommissionExpense"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FeeAndCommissionIncomeExpense_8ac4f976-e3f1-4836-993a-0fc6731ef7ba" xlink:to="loc_ifrs-full_FeeAndCommissionExpense_f2aad2b4-fc68-424e-b221-9780d7c0ab49" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_NetInterestIncome_02cebecb-ff23-4781-bacd-8a3c36248ef5" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_NetInterestIncome"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromInterest_7e77df0a-9598-4ed0-b8b0-e86025da8d91" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_bawaggroupag_NetInterestIncome_02cebecb-ff23-4781-bacd-8a3c36248ef5" xlink:to="loc_ifrs-full_RevenueFromInterest_7e77df0a-9598-4ed0-b8b0-e86025da8d91" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestExpense_96bdc7e1-6806-445e-90db-ba345f1e1dd3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestExpense"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_bawaggroupag_NetInterestIncome_02cebecb-ff23-4781-bacd-8a3c36248ef5" xlink:to="loc_ifrs-full_InterestExpense_96bdc7e1-6806-445e-90db-ba345f1e1dd3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromDividends_0c018f62-77d4-4d3d-8786-111e39741725" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RevenueFromDividends"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_bawaggroupag_NetInterestIncome_02cebecb-ff23-4781-bacd-8a3c36248ef5" xlink:to="loc_ifrs-full_RevenueFromDividends_0c018f62-77d4-4d3d-8786-111e39741725" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.bawaggroup.com/role/SONSTIGESERGEBNIS" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#SONSTIGESERGEBNIS"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/SONSTIGESERGEBNIS" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_ce8dbfa8-9b77-4009-97f1-eafeced343e3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_dde864e7-e569-43e1-92a7-0f6c69d53503" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_ce8dbfa8-9b77-4009-97f1-eafeced343e3" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_dde864e7-e569-43e1-92a7-0f6c69d53503" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments_f59190a9-9e9e-4d61-9ed9-6d08f9f5c1ba" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_ce8dbfa8-9b77-4009-97f1-eafeced343e3" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments_f59190a9-9e9e-4d61-9ed9-6d08f9f5c1ba" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_47f2b933-35cb-4222-bb03-ad00f03ce7c9" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_ce8dbfa8-9b77-4009-97f1-eafeced343e3" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_47f2b933-35cb-4222-bb03-ad00f03ce7c9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss_b70adcc5-a424-4479-adee-86a5872f8f15" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_ce8dbfa8-9b77-4009-97f1-eafeced343e3" xlink:to="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss_b70adcc5-a424-4479-adee-86a5872f8f15" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome_130a36b7-6437-434d-90c0-7f90bf7ca7b7" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_20000c59-42ea-4182-8ef5-e5a375a18c26" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_130a36b7-6437-434d-90c0-7f90bf7ca7b7" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_20000c59-42ea-4182-8ef5-e5a375a18c26" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_292781e8-a417-4fda-a2fd-6426309e05f2" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncome_130a36b7-6437-434d-90c0-7f90bf7ca7b7" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_292781e8-a417-4fda-a2fd-6426309e05f2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncome_ed4ff2a1-e149-4c02-aa40-1026ca2139b4" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ComprehensiveIncome"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome_97d20089-dc31-44e0-aae2-167320072183" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_ed4ff2a1-e149-4c02-aa40-1026ca2139b4" xlink:to="loc_ifrs-full_OtherComprehensiveIncome_97d20089-dc31-44e0-aae2-167320072183" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss_a62ec4d3-fef6-443a-b4dd-6b91acd1f8b4" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_ComprehensiveIncome_ed4ff2a1-e149-4c02-aa40-1026ca2139b4" xlink:to="loc_ifrs-full_ProfitLoss_a62ec4d3-fef6-443a-b4dd-6b91acd1f8b4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_b9ca6a01-1508-48c6-a7f1-cead3eddd4c9" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossBeforeTax_b9ca6a01-1508-48c6-a7f1-cead3eddd4c9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_7a821a1d-aa9a-40b2-904a-54a8670878ab" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_7a821a1d-aa9a-40b2-904a-54a8670878ab" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss_f4568ba4-8cf0-4241-96fa-be8f5105d79a" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss_f4568ba4-8cf0-4241-96fa-be8f5105d79a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_43ae9436-48d0-4fce-9e5f-a663beb9bc7e" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_43ae9436-48d0-4fce-9e5f-a663beb9bc7e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_2cf8572f-ec42-4680-b116-e7af1eec108c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_2cf8572f-ec42-4680-b116-e7af1eec108c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations_8d4b1ab5-3935-4e93-84af-5961424f24af" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_cb7cdb50-5058-4f68-844e-dab9ea6c76cd" xlink:to="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations_8d4b1ab5-3935-4e93-84af-5961424f24af" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.bawaggroup.com/role/Aktiva" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#Aktiva"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/Aktiva" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtAmortisedCost_53145955-cc34-4355-8206-16a506cb602f" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtAmortisedCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LoansAndAdvancesToCustomers_3593201b-59a8-43c3-9e55-22fd68bc81c3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LoansAndAdvancesToCustomers"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCost_53145955-cc34-4355-8206-16a506cb602f" xlink:to="loc_ifrs-full_LoansAndAdvancesToCustomers_3593201b-59a8-43c3-9e55-22fd68bc81c3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LoansAndAdvancesToBanks_fc4f2481-8aae-499a-a578-3eab357d7499" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LoansAndAdvancesToBanks"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCost_53145955-cc34-4355-8206-16a506cb602f" xlink:to="loc_ifrs-full_LoansAndAdvancesToBanks_fc4f2481-8aae-499a-a578-3eab357d7499" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DebtInstrumentsHeld_4f9a407c-6e2d-4cf9-8e71-b0f8ebb41504" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DebtInstrumentsHeld"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCost_53145955-cc34-4355-8206-16a506cb602f" xlink:to="loc_ifrs-full_DebtInstrumentsHeld_4f9a407c-6e2d-4cf9-8e71-b0f8ebb41504" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndBankBalancesAtCentralBanks_9a500b72-a8cf-47db-a332-646f6676c3db" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashAndBankBalancesAtCentralBanks"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_CashAndBankBalancesAtCentralBanks_9a500b72-a8cf-47db-a332-646f6676c3db" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_858165da-aacd-4fb9-8f2b-a65d04f16754" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_858165da-aacd-4fb9-8f2b-a65d04f16754" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_7d0e246a-4d00-48ea-90c2-d39e00d8e6b3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncome_7d0e246a-4d00-48ea-90c2-d39e00d8e6b3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_11307f36-44fe-428e-9584-b81e6887cedb" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_11307f36-44fe-428e-9584-b81e6887cedb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtAmortisedCost_853955c4-e19c-4b89-882d-a7b087608f1c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialAssetsAtAmortisedCost"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_FinancialAssetsAtAmortisedCost_853955c4-e19c-4b89-882d-a7b087608f1c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosAssets_57e52f91-a668-461a-b38a-e3af04c6e14d" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosAssets"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosAssets_57e52f91-a668-461a-b38a-e3af04c6e14d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativeFinancialAssetsHeldForHedging_9fb8b1ee-26e7-443f-bb7c-6af331d74ee3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DerivativeFinancialAssetsHeldForHedging"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_DerivativeFinancialAssetsHeldForHedging_9fb8b1ee-26e7-443f-bb7c-6af331d74ee3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment_b3f2f371-7ead-44ed-b536-3afa1d3e2725" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_PropertyPlantAndEquipment_b3f2f371-7ead-44ed-b536-3afa1d3e2725" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentProperty_3eb02167-a52a-48ef-b2ac-e06399f52fa1" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InvestmentProperty"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_InvestmentProperty_3eb02167-a52a-48ef-b2ac-e06399f52fa1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Goodwill_aca74bf2-1090-4782-a620-a94643798947" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Goodwill"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_Goodwill_aca74bf2-1090-4782-a620-a94643798947" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_BrandNameAndCustomerRelationships_c98ed130-5500-490c-a96d-b5888fe6ee67" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_BrandNameAndCustomerRelationships"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_bawaggroupag_BrandNameAndCustomerRelationships_c98ed130-5500-490c-a96d-b5888fe6ee67" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_SoftwareUndAndereImmaterielleVermoegenswerte_a2a25895-29e9-4257-b961-174b6afb797d" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_SoftwareUndAndereImmaterielleVermoegenswerte"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_bawaggroupag_SoftwareUndAndereImmaterielleVermoegenswerte_a2a25895-29e9-4257-b961-174b6afb797d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxAssets_e0c7902a-273e-4961-bf94-ecff3de8a85f" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTaxAssets"/>
    <link:calculationArc order="13" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_CurrentTaxAssets_e0c7902a-273e-4961-bf94-ecff3de8a85f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxAssets_9c353439-4b8d-49b4-8a60-19dcf4281823" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxAssets"/>
    <link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_DeferredTaxAssets_9c353439-4b8d-49b4-8a60-19dcf4281823" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod_1e6fc992-7055-42e5-83d8-db1c179a2a3b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod"/>
    <link:calculationArc order="15" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod_1e6fc992-7055-42e5-83d8-db1c179a2a3b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAssets_6eaa6b1c-d000-401b-9b52-31a5055ffecb" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAssets"/>
    <link:calculationArc order="16" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_OtherAssets_6eaa6b1c-d000-401b-9b52-31a5055ffecb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_8cccdf07-c47d-4d32-928a-0ac554478047" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners"/>
    <link:calculationArc order="17" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Assets_97334451-5576-4501-9684-37c7eb40c0e5" xlink:to="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners_8cccdf07-c47d-4d32-928a-0ac554478047" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.bawaggroup.com/role/Passiva" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#Passiva"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/Passiva" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_dc52c42f-85cd-4b81-87c3-a7841a88e556" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_IssuedBondsSubordinatedAndSupplementaryCapital_f4562ecd-cee0-4307-9916-4b6c58a05a10" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_IssuedBondsSubordinatedAndSupplementaryCapital"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_dc52c42f-85cd-4b81-87c3-a7841a88e556" xlink:to="loc_bawaggroupag_IssuedBondsSubordinatedAndSupplementaryCapital_f4562ecd-cee0-4307-9916-4b6c58a05a10" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepositsFromCustomers_d00a4b3d-3105-438d-a82d-48ea5d4dee97" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepositsFromCustomers"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_dc52c42f-85cd-4b81-87c3-a7841a88e556" xlink:to="loc_ifrs-full_DepositsFromCustomers_d00a4b3d-3105-438d-a82d-48ea5d4dee97" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DepositsFromBanks_e5f81e60-8b10-4416-a9ca-c9bac87cd7a8" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DepositsFromBanks"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_dc52c42f-85cd-4b81-87c3-a7841a88e556" xlink:to="loc_ifrs-full_DepositsFromBanks_e5f81e60-8b10-4416-a9ca-c9bac87cd7a8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition_87192d8e-5860-468d-afbb-adbf0f2a6294" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition_87192d8e-5860-468d-afbb-adbf0f2a6294" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_7e932b04-eaf5-417b-9a83-b31251d7b400" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_7e932b04-eaf5-417b-9a83-b31251d7b400" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_e26e4813-3ac0-4745-98de-1a1abbdb876c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost_e26e4813-3ac0-4745-98de-1a1abbdb876c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssociatedLiabilitiesThatEntityContinuesToRecognise_dbb12cdb-166e-44a1-ae33-216acda7aefc" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AssociatedLiabilitiesThatEntityContinuesToRecognise"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_AssociatedLiabilitiesThatEntityContinuesToRecognise_dbb12cdb-166e-44a1-ae33-216acda7aefc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosLiabilities_bc2bac27-f64e-41b2-b0bf-a0b98885ea59" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosLiabilities"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_bawaggroupag_ValuationAdjustmentOnInterestRateRiskHedgedPortfoliosLiabilities_bc2bac27-f64e-41b2-b0bf-a0b98885ea59" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativeFinancialLiabilitiesHeldForHedging_e59bff35-365e-4900-8ca0-d283a077098b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DerivativeFinancialLiabilitiesHeldForHedging"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_DerivativeFinancialLiabilitiesHeldForHedging_e59bff35-365e-4900-8ca0-d283a077098b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Provisions_d83afbe3-7bf3-4a7a-833a-59854a4d0e65" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Provisions"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_Provisions_d83afbe3-7bf3-4a7a-833a-59854a4d0e65" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxLiabilities_8d19d42d-71b3-4def-9782-f899cd303ab3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CurrentTaxLiabilities"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_CurrentTaxLiabilities_8d19d42d-71b3-4def-9782-f899cd303ab3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxLiabilities_5d331b62-2147-4a2c-a951-63437f64183f" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DeferredTaxLiabilities"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_DeferredTaxLiabilities_5d331b62-2147-4a2c-a951-63437f64183f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherLiabilities_b643ac70-ecbe-4174-a7ee-5e8c96620b3a" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherLiabilities"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_OtherLiabilities_b643ac70-ecbe-4174-a7ee-5e8c96620b3a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_4cfd810a-0ff6-4b2f-853e-091cedaa8492" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Liabilities_dfa947f7-901a-49b0-9554-47eb12c37fc1" xlink:to="loc_ifrs-full_LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale_4cfd810a-0ff6-4b2f-853e-091cedaa8492" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity_9df262bc-3497-47c2-88e5-41b3402f57e7" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Equity"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_EquityattributabletoownersoftheparentwithoutAT1_71a08394-c19d-4d24-aeae-daec974507a8" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_EquityattributabletoownersoftheparentwithoutAT1"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Equity_9df262bc-3497-47c2-88e5-41b3402f57e7" xlink:to="loc_bawaggroupag_EquityattributabletoownersoftheparentwithoutAT1_71a08394-c19d-4d24-aeae-daec974507a8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherEquityInterest_244e6ab3-f420-478e-8db3-25cd18e2d4cb" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherEquityInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Equity_9df262bc-3497-47c2-88e5-41b3402f57e7" xlink:to="loc_ifrs-full_OtherEquityInterest_244e6ab3-f420-478e-8db3-25cd18e2d4cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncontrollingInterests_82837eeb-d407-48ad-a55d-a66268e0de4a" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_NoncontrollingInterests"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_Equity_9df262bc-3497-47c2-88e5-41b3402f57e7" xlink:to="loc_ifrs-full_NoncontrollingInterests_82837eeb-d407-48ad-a55d-a66268e0de4a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilities_755bab2e-2f4e-4675-9df5-dcfac0c812a3" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_EquityAndLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Liabilities_20b82240-0072-405e-8648-e61cdd6ce2cf" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Liabilities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAndLiabilities_755bab2e-2f4e-4675-9df5-dcfac0c812a3" xlink:to="loc_ifrs-full_Liabilities_20b82240-0072-405e-8648-e61cdd6ce2cf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Equity_156e21ba-6587-437b-a1c4-f15ced64a796" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_Equity"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_EquityAndLiabilities_755bab2e-2f4e-4675-9df5-dcfac0c812a3" xlink:to="loc_ifrs-full_Equity_156e21ba-6587-437b-a1c4-f15ced64a796" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.bawaggroup.com/role/ENTWICKLUNGDESEIGENKAPITALS" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#ENTWICKLUNGDESEIGENKAPITALS"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/ENTWICKLUNGDESEIGENKAPITALS" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners_41478ea5-f645-47a9-83e2-ee3783c89ffc" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaid_8fbb2d53-1abb-47bb-9818-24dd44de5a9a" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaid"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners_41478ea5-f645-47a9-83e2-ee3783c89ffc" xlink:to="loc_ifrs-full_DividendsPaid_8fbb2d53-1abb-47bb-9818-24dd44de5a9a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReductionOfIssuedCapital_2a1ca158-1e94-46ec-84e9-bed43c318e2b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ReductionOfIssuedCapital"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners_41478ea5-f645-47a9-83e2-ee3783c89ffc" xlink:to="loc_ifrs-full_ReductionOfIssuedCapital_2a1ca158-1e94-46ec-84e9-bed43c318e2b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_ac0d1618-8a9e-4da4-9905-64a77fdc872e" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners_41478ea5-f645-47a9-83e2-ee3783c89ffc" xlink:to="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_ac0d1618-8a9e-4da4-9905-64a77fdc872e" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.bawaggroup.com/role/KAPITALFLUSSRECHNUNG" xlink:type="simple" xlink:href="bawaggroupag-2024-12-31.xsd#KAPITALFLUSSRECHNUNG"/>
  <link:calculationLink xlink:role="http://www.bawaggroup.com/role/KAPITALFLUSSRECHNUNG" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_c399f39b-4132-496d-aac7-d2d9f4dffff4" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_c399f39b-4132-496d-aac7-d2d9f4dffff4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets_2010e547-d63d-4e69-bd14-4462ffc2f88b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets_2010e547-d63d-4e69-bd14-4462ffc2f88b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets_d66c4732-afb1-48ba-84eb-4cc6ab006b1b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets_d66c4732-afb1-48ba-84eb-4cc6ab006b1b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_PurchaseOfOtherInvestmentsInFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_bef4013b-8cfb-49b1-8948-3ebf7d548f07" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_PurchaseOfOtherInvestmentsInFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_bawaggroupag_PurchaseOfOtherInvestmentsInFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_bef4013b-8cfb-49b1-8948-3ebf7d548f07" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_71bec1c3-b404-4584-b4d7-50ca4bdb9f7e" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_71bec1c3-b404-4584-b4d7-50ca4bdb9f7e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities_976a249a-c9d7-4ade-b2ca-e409ba7ea400" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_bawaggroupag_ProceedsFromSalesOrMaturityOfFinancialInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities_976a249a-c9d7-4ade-b2ca-e409ba7ea400" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities_4968cf74-0ab3-4187-b8df-2ce58f3a4c76" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtAmortisedCostsClassifiedAsInvestingActivities_4968cf74-0ab3-4187-b8df-2ce58f3a4c76" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_237d1fa5-6b16-4fce-9ef6-fb0fbc200eac" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_bawaggroupag_PurchaseOfDebtInstrumentsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities_237d1fa5-6b16-4fce-9ef6-fb0fbc200eac" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_5c289e7e-3d01-4241-810b-7f5bf3e2b987" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_ifrs-full_OtherCashReceiptsFromSalesOfEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_5c289e7e-3d01-4241-810b-7f5bf3e2b987" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_10a07b6f-afa6-45b0-99d9-a842d63da3a1" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod"/>
    <link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities_4a5520f1-8fcf-4645-ba14-7ebf1ded776c" xlink:to="loc_ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_10a07b6f-afa6-45b0-99d9-a842d63da3a1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLoss_d4fe5ffe-7461-4d12-bd80-1dc10e63787d" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_ProfitLoss_d4fe5ffe-7461-4d12-bd80-1dc10e63787d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_4ed86450-6651-4c43-80fc-e5ef137fb838" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_4ed86450-6651-4c43-80fc-e5ef137fb838" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForProvisions_b637696b-ac77-4ca9-a432-5e7ec22f543e" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForProvisions"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_AdjustmentsForProvisions_b637696b-ac77-4ca9-a432-5e7ec22f543e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAdjustmentsForNoncashItems_cdb77265-9200-4052-b8ec-e4973a20fca9" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAdjustmentsForNoncashItems"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_OtherAdjustmentsForNoncashItems_cdb77265-9200-4052-b8ec-e4973a20fca9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_b528e29c-6ef0-4a41-8964-47b38b33f631" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_b528e29c-6ef0-4a41-8964-47b38b33f631" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_49887589-1264-458a-adef-798cef36ca8e" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_49887589-1264-458a-adef-798cef36ca8e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow_e1fbbebb-3eeb-42bf-8c1e-27b97f1ba816" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_6a55cb1f-3355-4fbb-b71d-7cd7157c9498" xlink:to="loc_ifrs-full_OtherAdjustmentsForWhichCashEffectsAreInvestingOrFinancingCashFlow_e1fbbebb-3eeb-42bf-8c1e-27b97f1ba816" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_cc4e2bb5-8ae0-46ac-8eb5-e709219bdcb1" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_cc4e2bb5-8ae0-46ac-8eb5-e709219bdcb1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_AdjustmentsForDecreaseIncreaseInFinancialAssetsMeasuredAtAmortisedCosts_a2047e22-31d0-4bb0-9403-2c6274d4dfe4" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_AdjustmentsForDecreaseIncreaseInFinancialAssetsMeasuredAtAmortisedCosts"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_bawaggroupag_AdjustmentsForDecreaseIncreaseInFinancialAssetsMeasuredAtAmortisedCosts_a2047e22-31d0-4bb0-9403-2c6274d4dfe4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsNotIncludingInvestingActivities_e944f311-f3ff-44b1-9758-52cab2e65f71" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsNotIncludingInvestingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_bawaggroupag_AdjustmentsForDecreaseIncreaseInOtherFinancialAssetsNotIncludingInvestingActivities_e944f311-f3ff-44b1-9758-52cab2e65f71" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_8cf8809e-ebe8-43a0-98a9-32d97eff5300" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets_8cf8809e-ebe8-43a0-98a9-32d97eff5300" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesMeasuredAtAmortisedCosts_17819df0-76b5-4f69-9342-893671ec00c7" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesMeasuredAtAmortisedCosts"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_bawaggroupag_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesMeasuredAtAmortisedCosts_17819df0-76b5-4f69-9342-893671ec00c7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_AdjustmentsForIncreaseDecreaseInOtherFinancialLiabilitiesNotIncludingFinancingActivities_3a88529f-fb6c-4952-9c63-3bf507c23cf0" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_AdjustmentsForIncreaseDecreaseInOtherFinancialLiabilitiesNotIncludingFinancingActivities"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_bawaggroupag_AdjustmentsForIncreaseDecreaseInOtherFinancialLiabilitiesNotIncludingFinancingActivities_3a88529f-fb6c-4952-9c63-3bf507c23cf0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_4e3bd4d2-9c52-43a6-a74e-aab04320dccc" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_4e3bd4d2-9c52-43a6-a74e-aab04320dccc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestReceivedClassifiedAsOperatingActivities_c3f61bc8-ffe2-4922-a696-f2e5557eb5b2" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_InterestReceivedClassifiedAsOperatingActivities_c3f61bc8-ffe2-4922-a696-f2e5557eb5b2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_8e5fed5f-5c2a-48d9-8fef-da6dc88d6a62" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsReceivedClassifiedAsOperatingActivities"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_8e5fed5f-5c2a-48d9-8fef-da6dc88d6a62" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_DividendsReceivedFromInvestmentsAccountedForUsingEquityMethodClassifiedAsOperatingActivities_8aa20b09-aaa2-4b5a-90e9-c89b0e2aa509" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_DividendsReceivedFromInvestmentsAccountedForUsingEquityMethodClassifiedAsOperatingActivities"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_bawaggroupag_DividendsReceivedFromInvestmentsAccountedForUsingEquityMethodClassifiedAsOperatingActivities_8aa20b09-aaa2-4b5a-90e9-c89b0e2aa509" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestPaidClassifiedAsOperatingActivities_472885b3-989e-4199-aa87-942beb3d7792" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities"/>
    <link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_InterestPaidClassifiedAsOperatingActivities_472885b3-989e-4199-aa87-942beb3d7792" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_f4f3adde-8e77-4c67-ad1e-a6b0a6ccb308" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities"/>
    <link:calculationArc order="12" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities_a2cdd775-8fc4-4aa3-a6c2-376fb8479ee7" xlink:to="loc_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities_f4f3adde-8e77-4c67-ad1e-a6b0a6ccb308" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_8472e030-45da-4ccd-86cd-5dbd65aa2a73" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_8472e030-45da-4ccd-86cd-5dbd65aa2a73" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities_d5fc2551-b4c8-4df6-b66f-7af48efcc1bf" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_RepaymentsOfSubordinatedLiabilities"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_RepaymentsOfSubordinatedLiabilities_d5fc2551-b4c8-4df6-b66f-7af48efcc1bf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssuingOtherEquityInstruments_23a6759c-4d63-4a00-9e8d-b3805178b62b" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromIssuingOtherEquityInstruments"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_ProceedsFromIssuingOtherEquityInstruments_23a6759c-4d63-4a00-9e8d-b3805178b62b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_0fb96725-74fc-4235-aef4-fea21683a14d" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_0fb96725-74fc-4235-aef4-fea21683a14d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries_f56d417a-1859-4dab-93ca-426d656f2592" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_PaymentsFromChangesInOwnershipInterestsInSubsidiaries_f56d417a-1859-4dab-93ca-426d656f2592" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_cf183ae2-f4a5-4359-b666-cc2047528325" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsToAcquireOrRedeemEntitysShares"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_cf183ae2-f4a5-4359-b666-cc2047528325" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_bawaggroupag_PaymentsOfAdditionalTier1Coupon_081bbd4b-2f60-485a-94a5-d6544d6df110" xlink:href="bawaggroupag-2024-12-31.xsd#bawaggroupag_PaymentsOfAdditionalTier1Coupon"/>
    <link:calculationArc order="7" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_bawaggroupag_PaymentsOfAdditionalTier1Coupon_081bbd4b-2f60-485a-94a5-d6544d6df110" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsOfOtherEquityInstruments_9c7941d9-c86e-4ecb-8539-8a855a7ffa9c" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_PaymentsOfOtherEquityInstruments"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_PaymentsOfOtherEquityInstruments_9c7941d9-c86e-4ecb-8539-8a855a7ffa9c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_e25a1fcf-e402-41ca-a346-8567c3747562" xlink:href="https://xbrl.ifrs.org/taxonomy/2022-03-24/full_ifrs/full_ifrs-cor_2022-03-24.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities_b6785d28-42da-416e-9121-a550f27d585e" xlink:to="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_e25a1fcf-e402-41ca-a346-8567c3747562" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
