Q1 2020 Banco Comercial Portugues SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Millennium BCP Q1 2020 Earnings Conference Call. (Operator Instructions) I must advise you that today's conference is being recorded, Wednesday, the 20th of May 2020.
And I should now hand over to Miguel Maya. Please go ahead.
Good morning. This is Miguel Maya speaking. Welcome to BCP's first quarter earnings conference call. We are going through an exceptional period. We all know the economic projections published by the Bank of Portugal, the IMF, the European Commission and ECB, all of which are different, but all of which agree that we are facing a severe recession, but all of which also points to positive developments in 2021 and the years thereafter. In this moment of uncertainty, we seek our possible scenarios, indicators that give us some confidence or points of contact with the new normality. But this is a peculiar and extremely volatile period
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