EBKOF - Erste Group Bank AG (EBKOF) Q1 2024 Earnings Call Transcript

2024-05-04 09:55:23 ET

Erste Group Bank AG (EBKOF)

Q1 2024 Earnings Call Transcript

April 30, 2024 03:00 AM ET

Company Participants

Thomas Sommerauer - Head of Investor Relations

Willi Cernko - Chief Executive Officer

Stefan Dorfler - Chief Financial Officer

Alexandra Habeler-Drabek - Chief Risk Officer

Conference Call Participants

Benoit Petrarque - Kepler Cheuvreux

Mate Nemes - UBS

Johannes Thormann - HSBC

Krishnendra Dubey - Barclays

Mehmet Sevim - JPMorgan Chase & Co.

Gabor Kemeny - Autonomous Research

Riccardo Rovere - Mediobanca Group

Robert Brzoza - Pko BP Securities

Presentation

Operator

[Starts Abruptly] First Quarter 2024 Results Conference Call of Erste Group. My name is Caroline and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration of the call, your lines will be on listen-only mode. However, you will have an opportunity to ask questions at the end of the call. [Operator Instructions]

I will now hand over the call to your host, Thomas Sommerauer, to begin today's conference. Thank you.

Thomas Sommerauer

Thank you very much, Caroline, and also a very warm welcome to everybody who is listening in on behalf of Erste Group. We follow our usual conference call routine this time, so the call will be hosted by Willi Cernko, our Chief Executive Officer; Stefan Dorfler, our Chief Financial Officer; and Alexandra Habeler-Drabek, our Chief Risk Officer. They will lead you through a brief presentation highlighting the achievements of the first quarter of 2024. And after that, they are ready to take your questions.

Before I hand over to really my customary remark on forward-looking statements. As usual in this call, management will make forward-looking statements, and accordingly, the disclaimer on Page 2 of the presentation fully applies to those statements.

And with this, I hand over to Willi.

Willi Cernko

Thank you, Thomas. Ladies and gentlemen, good morning, and once again welcome to our first quarter 2024 conference call. Last year, we have raised the bar as far as financial performance is concerned and accordingly, I'm proud to report to you that in the first quarter 2024, we continued where we have left off in 2023.

I'm on Page 4 of the presentation. Both operating profit and net profit are up year-on-year as well as quarter-on-quarter. This was in no small measure due to NII consolidating close to record levels, fees continuing on their growth path and net trading and fair value result benefiting from positive valuation effects....

For further details see: