Cembra Money Bank AG (CMBNF) Q2 2026 Earnings Call Transcript

Cembra Money Bank AG ( CMBNF ) Q2 2026 Earnings Call July 23, 2026 2:30 AM EDT Company Participants Holger Laubenthal - CEO & Member of Management Board Christoph Glaser - CFO & Member of Management Board Volker Gloe - Chief Risk Officer & Member of Management Board Conference Call Participants Mate Nemes - UBS Investment Bank, Research Division Andreas Venditti - Bank Vontobel AG, Research Division Daniel Regli - Zürcher Kantonalbank, Research Division Anne-Chantal Risold - Octavian AG, Research Division Presentation Operator Ladies and gentlemen, welcome to the Half Year Results 2026 Conference Call and Live Webcast. My name is Yusof, the Chorus Call operator. [Operator Instructions] This conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or for broadcast. At this time, it's my pleasure to hand over to Mr. Holger Laubenthal, CEO. Please go ahead. Holger Laubenthal CEO & Member of Management Board Thank you, Yusof, and good morning, everyone. Great to be here for the presentation of our first half 2026 results. I'm here with our CFO, Christoph Glaser; CRO, Volker Gloe, and we look forward to walk you through the slides and then to your questions. Key messages we have for you this morning for the first half. So first, given continued strategy execution, we achieved a solid 6% growth in net income, it's primarily due to further efficiencies from our transformation program. Second, we're pleased with receivables growth of 2% from across business units, including personal loans. Net revenues remained stable despite lower maximum interest rates. Strong improvement in cost/income ratio by over 4 points to 43.5%, and loss performance continued solid and aligned with the guidance that we've given. Overall, this delivered a strong capital position of 17.7%. And with that, we're also pleased to confirm our full year guidance we have provided based on the core performance