Bawag Group Ag Ord (BWAGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the BAWA Group Q1 2026 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 advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. and there will also be a transcript on the company's website. I would now like to hand the conference over to your first speaker today, and as Abhisar do, CEO, please go ahead. Thank you, operator. I hope everyone is keeping well. I'm joined this morning by Enver, our CFO. Let's start with a summary of the first quarter results on slide three. We delivered net profit of €232 million and a return on tangible common equity of 28%. During the first quarter, the operating performance of our business was very strong with core revenues of $579 million, pre-provision profits of $391 million, and a cost-income ratio of 33%. Realizing the benefits from our investments over the years as we build out a pan-European and U.S. banking group. Total risk costs were $65 million, translating to a risk-cost ratio of 46 basis points. We have a low NPL ratio of 80 basis points and continue to see solid credit performance across our businesses. In terms of our balance sheet and capital, average customer loans and average customer funding were both up 1%, quarter over quarter. We have a fortress balance sheet with $13.6 billion in cash, equal to approximately 19% of our balance sheet, an LCR of 176%, and overall strong asset quality. Our pro forma CET1 ratio stands at 15.4%, with $650 milli...