BAWAG Group AG (OTCPK:BWAGF) Q1 2025 Earnings Conference Call April 29, 2025 4:00 AM ET
Company Participants
Anas Abuzaakouk – Chief Executive Officer
Enver Sirucic – Chief Financial Officer
Conference Call Participants
Gabor Kemeny – Bernstein Autonomous
Hugo Cruz – KBW
Amit Ranjan – JPMorgan
Borja Ramirez – Citi
Noemi Peruch – Mediobanca
Johannes Thormann – HSBC
Tobias Lukesch – Kepler Cheuvreux
Operator
Good day and thank you for standing by. Welcome to the BAWAG Group Q1 2025 Results Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. There will also be a transcript published on the website.
I would now like to hand the conference over to your speaker today, Anas Abuzaakouk, CEO. Please go ahead.
Anas Abuzaakouk
Thank you, operator. I hope everyone as well. I am joined this morning by Enver, our CFO.
Let us start with the summary of the first quarter results on Slide 3. We delivered net profit of €201 million, earnings per share of €2.54, and a return on tangible common equity of 26% during the first quarter.
The performance of our business was strong with operating income of €534 million, up 39% versus prior year, pre-provision profits of €336 million, and a cost/income ratio of 37% as we closed Barclays Consumer Bank Europe in February and are focused on integrating our acquisitions.
Total risk costs were €59 million, translating into a risk/cost ratio of 43 basis points. We have a low NPL ratio of 70 basis points, down 10 basis points from year-end as we continue to see solid credit performance across our businesses.
In terms of our balance sheet and capital, average customer loans were up 15% and average customer
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