Jul 30, 2019 / 11:00AM GMT
Miguel Maya Dias Pinheiro - Banco Comercial Português, S.A. - Vice Chairman, CEO & Member of Board for International Strategy
Good afternoon. Welcome to the BCP Millennium Results Conference Call. I will present to you the main highlights followed -- as we provide the details of the presentation by my colleague, Miguel Bragança and our Investor Relations, Bernardo Collaço.
The economic and financial environment remains challenging for the financial sector in various dimensions. I would like to highlight the factor that I consider to be the most prominent to the monetary policy and the recent interest rate developments.
The perspective of an extended period of negative interest rates have had repercussions. It further pressures net interest income and the downward shift in reference, yield curve affects the discount rate increasing liabilities for the pension fund. For this reason and also, because the legal framework in Portugal, regarding the tax treatment of impairment was finally stabilized.
In this quarter, we recognized a significant amount of DTAs, a net value of
Q2 2019 Banco Comercial Portugues SA Earnings Call Transcript
Feb 12, 2024
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