Q1 2025 Alior Bank SA Earnings Call Transcript
Key Points
- Alior Bank SA (WAR:ALR) reported a significant increase in the number of customers with a main relationship, surpassing 1 million, with a 16% rise in mobile app users.
- The bank's deposit portfolio grew by 5%, reaching PLN78.5 billion, aligning with its strategy to build relationship-based banking.
- Mortgage loans to retail customers exceeded PLN1 billion, marking a 32% quarter-on-quarter increase.
- Alior Bank SA maintained a strong capital position with a Tier 1 and TCR ratio of 17.7%, providing a solid foundation for future growth.
- The bank achieved a return on equity (ROE) of 16.8%, with a potential increase to 17.2% when adjusted for one-offs.
- Net profit for Q1 was 100% lower than the previous year, impacted by one-offs, resulting in a reported net profit of PLN476 million.
- Commission income decreased by 3%, with a noted weakness in the corporate sector's renewal or regeneration.
- The net interest margin (NIM) decreased by 8 basis points to 5.88%, due to a changing structure of assets.
- Operating expenses increased, with personal costs rising by PLN23 million and IT services expenses growing by 9%.
- The cost of risk increased slightly to 0.74%, reflecting recalibrated models and ongoing efforts to manage non-performing loans.
(spoken in foreign language) Piotr Zabski, the CEO of the bank, will summarize the most important elements. Deputy CEO will talk about the finance area, and Mr. Marcin Ciszewski will talk about risk.
In the second part of the meeting, after we have finished with the presentation, we will have a Q&A session. Before I give the thought to Piotr, let me encourage everybody who is listening to us. I would like to encourage you to ask questions during the first part already, and that will be a good segue to the Q&A.
Piotr, over to you.
Good morning. Let me welcome you to the first conference about the performance of our new strategy. As you remember, we announced a new strategy in late March. It was the very end of the first quarter, and the financial results of that first quarter will be commented on today.
If I were to summarize everything with just a single sentence, I would say that we are pleased with what we have
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