Half Year 2023 Banque Cantonale Vaudoise Earnings Call Transcript
Ladies and gentlemen, welcome to the 2023 Half Year Results Conference Call and Live Webcast. I am Moira, the Chorus Call operator. (Operator Instructions) For the call today, the speakers will refer to the slides, which are available for viewing on the IR section of the BCV website since this morning.
At this time, it's my pleasure to hand over to Pascal Kiener, CEO.
Thank you very much. Good morning. Good afternoon, everybody.
Let me jump directly on Page 4. I think the main point I want to make, I think you have already seen the figures. It's basically a sharp increase in revenues due to the increase in interest rates. And consequently, since we are managing costs quite tightly, a sharp increase in net profit and operating profit. Net profit being CHF 240 million, up 22%, which is basically the best result since 2007. Why 2007? Because in 2007, 2006, I think we had some extraordinary items following the recapitalization of BCV 2002-2003. So basically, which is
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