Arion banki hf. (ARION_SDB) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.722 Good morning and thank you all for joining us today for the presentation of our quarterly 00:00:04.722 -- 00:00:06.546 results. 00:00:06.546 -- 00:00:11.958 Before I begin, I want to acknowledge the absence of our CFO, Olof Huskulsson, 00:00:11.958 -- 00:00:15.245 who is currently away due to medical reasons. 00:00:15.245 -- 00:00:19.640 We of course wish him a swift recovery and look forward to his return. 00:00:19.640 -- 00:00:24.866 In his absence, I will try to provide a comprehensive overview of our performance 00:00:24.866 -- 00:00:29.912 this quarter, and our chief economist, Erna Björk Sværistóttir, will reflect on 00:00:29.912 -- 00:00:31.734 the external 00:00:31.734 -- 00:00:33.175 environment. 00:00:33.175 -- 00:00:37.037 But first, let's dive into the results. 00:00:37.500 -- 00:00:43.086 This was a solid start of the year with a return on equity of 12.8%. 00:00:43.086 -- 00:00:48.766 And the results are underpinned by good momentum in our core earnings. 00:00:48.766 -- 00:00:54.013 with a strong period in terms of feed generation, a solid net interest margin 00:00:54.013 -- 00:00:57.579 despite the complicated external rate environment, 00:00:57.579 -- 00:01:02.325 and in terms of insurance income, we also had one of the best first quarters for that 00:01:02.325 -- 00:01:07.510 business in what generally is a seasonally low period. 00:01:07.793 -- 00:01:13.049 Another highlight were key milestones reached in our land development projects. 00:01:13.049 -- 00:01:17.634 which supported a valuation increase in the quarter with a net impact to our shareholders 00:01:17.634 -- 00:01:20.576 of 1.1 billion. 00:01:20.576 -- 00:01:26.242 And in terms of capital, we continue to trend towards our optimized level and in Q2 00:01:2...