Q2 2024 Bper Banca SpA Earnings Call Transcript
Key Points
- Revenues grew by 4%, reaching EUR2.8 billion, demonstrating strong business resilience.
- Profit before tax increased by almost 16%, reaching EUR1.1 billion.
- Cost income ratio remained stable at 50.6%, reflecting effective cost discipline.
- Adjusted return on tangible equity stands at a robust 16.5%, with a CET1 ratio of 15.3%.
- Liquidity profile remained strong, with LCR at 161.4% and NSFR at 134.6%.
- Stated profit was lower year-on-year and quarter-on-quarter due to a limited tax rate in previous periods.
- Operating cost guidance was revised modestly upwards.
- Gross NPAs increased by EUR300 million quarter-on-quarter.
- HR-related actions resulted in significant one-off costs, including EUR174 million in Q2 2024.
- Market risk-weighted assets increased by EUR1.2 billion quarter-on-quarter.
Good morning. This is the chorus call conference operator. Welcome and thank you for joining the Bper first half 2024 consolidated results conference call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Nicola Sponghi, Head of Investor Relations with Bper . Mr. Sponghi, please go ahead, sir.
Thank you and good morning, everyone. I am pleased to welcome you to our second quarter 2024 and this conference call. Before I give the floor to our CEO, Gianni Franco Papa, please note that our slide certain press release can be found on our corporate website.
I would also advise you to take note of the disclaimer on slide 2 of the presentation document. That said after the presentation, our CEO and our CFO, Simone Marcucci will take care of the Q&A session. I will reiterate that this is reserved for financial analysts, whom I will kindly request to ask a maximum of two questions each, so that everyone will have the opportunity to contribute to today's call.
Thank you very
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