BWAGF - BAWAG Group AG (BWAGF) Q2 2024 Earnings Call Transcript
2024-07-18 13:57:04 ET
BAWAG Group AG (BWAGF)
Q2 2024 Earnings Conference Call
July 18, 2024, 04:00 AM ET
Company Participants
Anas Abuzaakouk - CEO
Enver Sirucic - CFO
Conference Call Participants
Vishal Shah - Morgan Stanley
Mate Nemes - UBS
Gabor Kemeny - Autonomous Research
Jeremy Sigee - BNP Paribas
Mehmet Sevim - JPMorgan
Tobias Lukesch - Kepler Cheuvreux
Noemi Peruch - Mediobanca
Hugo Cruz - KBW
Presentation
Operator
Good day, and thank you for standing by. Welcome to the BAWAG Group Q2 2024 Results Call. [Operator Instructions] Please be advised that today's conference is being recorded. There will also be a transcript published on the company's website after the event.
I would now like to hand the conference over to your speaker today Anas Abuzaakouk, CEO. Please go ahead, sir.
Anas Abuzaakouk
Thank you, Operator. Good morning, everyone. I hope everyone is keeping well. I am joined this morning by Enver, our CFO.
Let's start with a summary of the second quarter results on Slide 3. During the second quarter, we delivered net profit of €175 million, earnings per share of €2.22, and a return on tangible common equity of 24%. The operating performance of our business was very strong, with pre-provisioned profits of €263 million and a cost-income ratio of 33%.
Total risk costs were €28 million, translating into a risk-cost ratio of 27 basis points. We did not release any credit reserves with an ECL management overlay of €80 million. We have a low NPL ratio of 1.1% and continue to see solid credit performance across our businesses....
BAWAG Group AG (BWAGF) Q2 2024 Earnings Call Transcript