Q1 2023 BAWAG Group AG Earnings Call Transcript
Good day, and thank you for standing by. Welcome to the BAWAG Group Q1 2023 Results Call. (Operator Instructions) Please be advised that today's conference is being recorded. And a transcript thereof will be published on the company website.
I would now like to hand the conference over to your speaker today, CEO, Anas Abuzaakouk. Please go ahead.
Thank you, operator. Good morning, everyone. I hope everyone is keeping well. I'm joined this morning by Enver, as usual, our CFO. Let's start with a summary of the first quarter results on Slide 3. We delivered net profit of EUR 140 million and EPS of EUR 1.69 and a return on tangible common equity of 20.5% during the first quarter. The normalized return on tangible common equity was 23.5% when pro-rating the front-loaded regulatory charges in the first quarter. The operating performance of our business was very strong with pre-provision profits of EUR 248 million and a cost income ratio of 32.5%. Total risk costs were EUR 21 million
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