Bawag Group Ag Ord (BWAGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the BAVAG Group Full Year 2025 results call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1, 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. Please be advised that today's conference is being recorded. There will also be a transcript on the company's website. I would now like to hand the conference over to your speaker today, Anas Abou-Zakouk, CEO of the company. Please go ahead. Thank you, operator. Good morning, everyone. I hope everyone is keeping well. I'm joined this morning by Enver, our CFO. So we have a lot to cover. Let's jump right into it with a summary of full year 2025 results on slide three. For the full year 2025, we delivered a record net profit of 860 million euros, earnings per share of 10 euros, 87 cents, and a return on tangible common equity of 27%. The underlying operating performance of our business was very strong with pre-provision profits of $1.42 billion, up 31% versus prior year, and a cost-income ratio of 36%. Total risk costs were $228 million with an NPL ratio of 80 basis points. The fourth quarter was particularly strong with a net profit of $230 million, return on tangible common equity of 28%, and a strong springboard as we entered 2026. We exceeded all of our 2025 targets and distributed 607 million euros to shareholders, 432 million in dividends, which was equal to 5 euros and 50 cents per share, and 175 million euros share buyback, translating into a cancellation of 1.6 million shares or 2% of shares outstanding. Since our IPO i...