Jul 18, 2024 / 08:00AM GMT
Anas Abuzaakouk - BAWAG Group AG - Chairman of the Managing Board, Chief Executive Officer
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 EUR175 million, earnings per share of two years. EUR2.22 and a return on tangible common equity of 24%.
The operating performance of our business was very strong with pre-provision profits of EUR263 million and a cost-income ratio of 33%. Total risk costs were EUR28 million, translating into a risk cost ratio of 27 basis points. We did not release any credit reserves with an ECL management overlay of EUR80 million.
We have a low NPL ratio of 1.1% and continue to see solid credit performance across our businesses. In terms of our balance sheet and capital average customer loans were down 1% and average customer deposits were up 1% quarter-over-quarter.
Our CET1 ratio was 16.5%, up 90 basis points from prior quarter. After considering the second quarter dividend accrual
Half Year 2024 BAWAG Group AG Earnings Call Transcript
Jul 18, 2024
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