Banque Cantonale Vaudoise (FRA:B1V1)
€ 68.3 0 (0%) Market Cap: 9.30 Bil Enterprise Value: 4.63 Bil PE Ratio: 16.95 PB Ratio: 2.06 GF Score: 57/100
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Half Year 2024 Banque Cantonale Vaudoise Earnings Call Transcript

Aug 22, 2024 / 12:00PM GMT
Pascal Kiener
Banque Cantonale Vaudoise - Chief Executive Officer, Member of the Executive Board

Good afternoon, everybody. Let me just directly on page 4. Those are, for me, the forming points in those results.

First of all, we are operating in a set positive economy. Business trends are all up. We will discuss that later. Basically, they're going to be strong, very resilient. Maybe we don't have a spectacular growth, but nevertheless, this is a growth expected between 1% and 1.5%.

Second main point, basically a strong growth in the mortgage business. We will explain that later. Our revenues are stable. But as you have seen in the results this year a component of different FX being growth in mortgage business or in credit business, and, let's say, impact of the movement of interest rates as well as also some element in the balance sheet management, which were less positive than last year.

So basically, H1 result below last year. This was expected. We also communicated that in February when we announced the 2023 result. So basically, it's minus EUR6 million. But nevertheless,

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