Aug 05, 2024 / 04:30PM GMT
Operator
Good afternoon, and welcome to BFF Banking Group first-half 2024 earnings call. (Operator Instructions) Please note, this event is being recorded.
I would like to turn the conference over to Massimiliano Belingheri, Group CEO; and Piergiorgio Bicci, Group CFO. Please go ahead.
Massimiliano Belingheri - BFF Bank SpA - CEO & Executive Director
Thank you. Thank you, everybody, for joining us this evening to go through our first-half results. But let's kick off first with the response to Bank of Italy. We have officially filed our responses. We announced already to the market in terms of credit classification governance remuneration. And we have applied that credit classification to our first-half credit portfolio.
This has generated incremental past due of EUR1.4 billion, incremental RWA of EUR1.8 billion, and incremental provisions under IFRS 9 for EUR0.7 million, given the low credit risk of the portfolio. The step up in the recognition of LPIs and recovery cost rights has pushed the reported earnings to EUR162 million. If you strip out
Q2 2024 BFF Bank SpA Earnings Call Transcript
Aug 05, 2024
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