Q1 2023 Banco Comercial Portugues SA Earnings Call Transcript
Good day, and thank you for standing by. Welcome to the Millennium BCP First Quarter 2023 Earnings Conference Call and Webcast.
(Operator Instructions)
Please note that today's conference is being recorded. I would now like to hand the conference over to your speaker, Mr. Miguel Maya, Vice Chairman and CEO. Please go ahead, sir.
Good afternoon, Miguel Maya speaking. Welcome to BCP's Earnings Conference Call.
As usually, I will mention the highlights of our performance, followed by Miguel Braganca and Bernardo Collaço, who will provide additional details.
We have achieved a net income of EUR 215 million in the first quarter, increasing 90% year-on-year, although still influenced by significant effects coming from Poland. Costs related with the FX mortgage loans reached almost EUR 206 million, including adjustments to the provision model with more conservative assumptions that led to an amount of
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