Bawag Group Ag Ord (BWAGF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Bawag Group Q2 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. Good morning everyone. Before we start with the call, let me remind you of the following. As you know, on 14 April, we announced that BABA had entered into recommended transactions to acquire 100% of PTSB. That transaction remains ongoing and is subject to shareholder, high court, and regulatory approvals. As the transaction is regulated by the Irish takeover rules, we are restricted in the information we can provide on this call, and as a result, we will not take any questions in relation to the PTSB transactions. With that, I will hand over to our CEO. Thank you, Jutta. I hope everyone is keeping well. I'm joined this morning by Enver, our CFO. Let's go ahead and get started with a summary of second quarter results on slide three. We delivered net profit of 255 million euros, EPS of 3 euros and 28 cents, and return on tangible common equity of 29% during the second quarter. The operating performance of our business remains very strong, with core revenues of $590 million, up 8% versus prior year, pre-provision profits of $413 million, and a cost-income ratio of 31%. We continue to realize the benefits of investments over the years as we build out a pan-European and U.S. banking group. Total risk costs were 75 million, translating into a risk cost ratio of 54 basis points. We have a low NPL ratio of 90 basis points and continue to see solid credit performance across our businesses. In ...