Q2 2020 Aareal Bank AG Earnings Call Transcript
(technical difficulty)
Yes. Thank you. Good morning, everybody. Marc and myself, we will guide you through our presentation. He is with me today. Sorry for the short delay. We had some technical problems with our audio conference system, but as we've learned during the COVID crisis, you should have a backup, and now we are on the remote backup with respect to audio conference. So sorry for the delay, but we could, right, go into our presentation, which starts with Page 4.
A little bit of summary, what has changed in our view between May 2020, our Q1 call and August 2020, today's call. Clearly, what we see and what everybody is, following a more gradual recovery. So we've, compared to May, clearly experienced economic-wise a more pronounced dip than originally expected. So starting point for the recovery is lower as we've thought it might be in May.
How we manage through the crisis, clearly, from a client perspective, we are presenting ourselves and are the
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