Bper Banca Spa Unsp/Adr (BPXXY) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, good afternoon. This is the course called Conference Operator. Now, welcome and thank you for joining the conference call on the People Group's First Act 2023 Consolidation Results. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone at this time. I would like to turn the conference over to Mr. Pierluigi Montani, CEO of the People Group. Please go ahead. Thank you. Good evening, everybody. It's been a long day today. So for sure it has been a long day for all of you, but it was for us in particular. Good evening and welcome, everybody. What I would like to start with is by saying that we're very happy and proud with this result, our best ever first half. Our six months results are extremely positive. Our core business profitability has grown. Further improvement is registered in credit quality combined with a sound capital and liquidity position. The second quarter closed successfully with a net profit of approximately $414 million, which is 42.4% on the first quarter of this year. Operating income totalled $1,334,000,000 in the quarter at 1.2% quarter on quarter. particularly driven by the strong increase in net interest income, which settled at $819 million with an increase quarter-on-quarter by 12.8%. Net commission income keeps very resilient and closes at $490 million with a slight decrease quarter-on-quarter. that we will talk about during the presentation. In terms of profit, So the net profit was $414 million, as we were saying, and the strong revenue growth in the second quarter was underpinned by net interest income that closed with $1.5 bi...