Q1 2019 BAWAG Group AG Earnings Call Transcript
Good day, ladies and gentlemen, and welcome to the BAWAG Group Q1 2019 Results Call. (Operator Instructions)
As a reminder, this conference is being recorded, and a replay as well as a transcript thereof will be available at BAWAG Group's website.
I would now like to hand the conference over to your speaker today, Anas Abuzaakouk, Chief Executive Officer. Please go ahead.
Thank you, Operator. For everyone, it's Anas Abuzaakouk. Good morning, everyone. I hope everybody is doing well. I'm joined this morning by Enver, our CFO.
Let's just get right into it. On Slide 3, you see the bank generated strong earnings during the first quarter. On a reported basis, we delivered profit before tax of EUR 127 million and net profit of EUR 97 million. This is up 9% and 12%, respectively, versus the prior year.
Normalizing for the effects of regulatory charges, which we've communicated in the past, which are, as usual, front loaded during the first quarter and
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