Bawag Group Ag Ord (BWAGF) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:01.111 -- 00:00:06.497 Good day and thank you for standing by. Welcome to the BAWA Group Q1 2026 00:00:06.497 -- 00:00:10.902 results call. At this time, all participants are in a listen-only mode. 00:00:10.902 -- 00:00:14.687 After the speaker's presentation, there will be a question and answer session. 00:00:14.687 -- 00:00:19.592 To ask a question during the session, you will need to press star 1 and 1 on your telephone. 00:00:19.592 -- 00:00:23.316 You will then hear an automated message advising your hand is raised. 00:00:23.316 -- 00:00:26.800 To withdraw your question, please press star 1 and 1 again. 00:00:26.800 -- 00:00:30.170 Please be advised that today's conference is being recorded. 00:00:30.170 -- 00:00:33.876 and there will also be a transcript on the company's website. 00:00:33.876 -- 00:00:37.461 I would now like to hand the conference over to your first speaker today, and as Abhisar 00:00:37.461 -- 00:00:41.164 do, CEO, please go ahead. 00:00:41.507 -- 00:00:45.012 Thank you, operator. I hope everyone is keeping well. 00:00:45.012 -- 00:00:48.277 I'm joined this morning by Enver, our CFO. 00:00:48.277 -- 00:00:52.303 Let's start with a summary of the first quarter results on slide three. 00:00:52.303 -- 00:00:57.371 We delivered net profit of €232 million and a return on tangible common 00:00:57.371 -- 00:01:02.724 equity of 28%. During the first quarter, the operating performance of our business 00:01:02.724 -- 00:01:07.951 was very strong with core revenues of $579 million, pre-provision 00:01:07.951 -- 00:01:12.076 profits of $391 million, and a cost-income ratio of 33%. 00:01:12.076 -- 00:01:13.919 Realizing 00:01:13.919 -- 00:01:18.665 the benefits from our investments over the years as we build out a pan-European and U.S. 00:01:1...