Feb 21, 2020 / 03:00PM GMT
Miguel Maya Dias Pinheiro - Banco Comercial Português, S.A. - Vice Chairman, CEO & Member of Board for International Strategy
Good afternoon. This is Miguel Maya speaking. Welcome to BCP earnings conference call. I will go through the main highlights, followed as usual by a more detailed presentation by my colleague, Miguel Braganca; and by our Investor Relations, Bernard Collaço.
2019 was a difficult year for the financial industry players that have retail and commercial banking business models. It was a year deeply marked by interest rates levels, which were kept below forecasts. The effect of the trade tensions between the main economic blocs is also reflected on global trade and on the evolution of the economic activity. We dealt with an increasingly volatile and more complex context.
Besides the common diversities of the financial industry, for BCP, 2019 was an increasingly challenging year, considering the national legislation changes that stipulated the termination of the special treatment for impairment costs under fiscal and accountable perspectives, which, in this context
Full Year 2019 Banco Comercial Portugues SA Earnings Call Transcript
Feb 12, 2024
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