Banque Cantonale Vaudoise (BQCNF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay. Good morning, everybody. Pascal Tiner, CEO of VCV speaking. Let me jump directly on page four to comment what I consider are the key messages of our H1 results. Basically, VCV is doing quite well with the continued growth in all business sectors. Revenue are slightly up despite the negative or the low interest rate environment due to our business model, which is quite diversified, the most diversified type of revenues of all continental banks due to private banking and asset management. And then in this uncertainty world and also in this environment of, let's say, very low interest rates, we try to master and to control very tightly our cost and you see that the overall cost, meaning the patent cost or patent expense as well as amortization, are up only 1%. Basically, this results in a net profit of 5% compared to last year, 225 million Swiss francs. Then I go directly on page six. You see the different... Business, volume, mortgage, order loans, deposits, so everything is up. In terms of deposits, you have to add the two elements, side deposit and other kind of deposits. In aggregate, this is plus 3%. Okay. In terms of rating, being financial or extra financial, ESG rating, so financial rating, Moody's and S&P are confirmed there. their rating, which is okay. We didn't expect anything else, but I think it's good to say that. And in terms of ESG rating, you see that the notation, the ratings of BCV are quite good. Very often on the second highest rating for the different agencies and almost everywhere the best continental bank or among the best in terms of extra energy rating. This is basically the result of a long-term focus on government issue durability. This hasn't started in the last three, four years, but we started before 2010. Basically, it's written in...