Q2 2020 UniCredit SpA Earnings Call Transcript
Good morning, ladies and gentlemen. Today's conference call will be hosted by UniCredit CEO, Mr. Jean-Pierre Mustier; and the Co-CFO, Mr. Mirko Bianchi. (Operator Instructions) Today's conference call is being recorded. At this time, I would like to hand the call over to Mr. Jean-Pierre Mustier. Sir, you may begin.
Thank you very much, and good morning to all of you and welcome to the analyst call for our second quarter results. While we continue to face the challenges of the ongoing COVID-19 pandemic during the period, we finished the quarter in a strong position. We are ready to seize the opportunity that lies ahead, thanks to our effective business continuity measures, our accelerated digitalization and our stable cost base. As shutdowns began to ease across most of our core markets, we are seeing the first signs of commercial recovery. This can be seen more clearly in our monthly [key] performance with good sales for June, now slightly higher than the level of a year earlier, demonstrating the
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