Banco Comercial Português (BPCGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Millennium BCP First Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised, today's conference is being recorded. We'd now like to hand the conference over to your speaker today, Mr. Miguel Maia. Please go ahead. Good morning. Miguel Maia speaking. Welcome to BCP earnings conference call. As usual, I will mention the highlights of our performance, and then Miguel Braganza and Bernard Colasso will follow, providing additional details. The first quarter proved particularly challenging with a global context marked by increasing instability and intensifying geopolitical tensions as conflicts erupted in the Middle East. These events have had a severe impact on international trade and energy costs worldwide, which in turn is affecting global economic growth. Despite operating in a complex environment, the bank's performance remains strong. Net profit grew by more than 25% year on year, reaching 306 million euros and translating into a return on equity of nearly 16%. This profitability underscores the resilience and ability of our business model to generate sustainable value as outlined in our strategic plan for the cycle up to 2028. Our commitment to creating value is matched by our ambition to increase shareholder remuneration. We exceeded our initial target in this matter, having announced last quarter the intention to implement a shareholder's distribution of ...