Bawag Group Ag Ord (BWAGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the BAWAG Group Q1 2025 results 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 raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. There will also be a transcript published on the website. I would now like to hand the conference over to your speaker today, Anas Abuzakouk, CEO. Please go ahead. Thank you, operator. I hope everyone is well. I am joined this morning by Enver, our CFO. Let us start with the summary of the first quarter results on slide three. We delivered net profit of 201 million, earnings per share of 2 euros and 54 cents, and a return on tangible common equity of 26% during the first quarter. The performance of our business was strong, with operating income of 534 million, up 39% versus prior year, pre-provision profits of 336 million, and a cost-income ratio of 37%. As we closed Barclays Consumer Bank Europe in February, and are focused on integrating our acquisitions. Total risk costs were $59 million, translating into a risk-cost ratio of 43 basis points. We have a low NPL ratio of 70 basis points, down 10 basis points from year end, as we continue to see solid credit performance across our businesses. In terms of our balance sheet and capital, average customer loans were up 15%, and average customer deposits were up 16%. quarter over quarter. We have a fortress balance sheet with 15.3 billion of cash, an LCR of 213%, and overall strong asset quality. Our CET1 ratio stands at 13.8%, with 189 millio...