Banco Comercial Português, S.A. (BPCGY) Q2 2026 Earnings Call Transcript

SA Transcripts 161.4K Followers Follow Banco Comercial Português, S.A. ( BPCGY ) Q2 2026 Earnings Call July 30, 2026 9:00 AM EDT Company Participants Miguel Maya Dias Pinheiro - 3rd Executive Vice Chairman, CEO & Member of Board for Strategic Board Miguel de Bragança - CFO & Executive Director Bernardo Roquette de Aragão de Collaço - Market Relations Representative & Head of the IR Division Conference Call Participants Ignacio Ulargui - BNP Paribas, Research Division Alvaro Fernandez-Garayzabal - UBS Investment Bank, Research Division Maksym Mishyn - JB Capital Markets, Sociedad de Valores, S.A., Research Division Sofie Caroline Peterzens - Goldman Sachs Group, Inc., Research Division Miruna Chirea - Jefferies LLC, Research Division Carlos Peixoto - Caixa Banco BPI., Research Division Hugo Cruz - Keefe, Bruyette & Woods Limited, Research Division Luis Pratas - Bernstein Autonomous LLP Borja Ramirez Segura - Citigroup Inc., Research Division Cecilia Romero Reyes - Barclays Bank PLC, Research Division Presentation Miguel Maya Dias Pinheiro 3rd Executive Vice Chairman, CEO & Member of Board for Strategic Board Good afternoon. Miguel Maya speaking. Welcome to BCP's conference call. As usual, I will begin with the highlights of our performance being followed by Miguel Braganca and Bernardo Collaco, who will provide additional detail. The first half of this year continued to be shaped by a complex global environment marked by persistent geopolitical tensions and their impacts on energy markets, international trade and inflation. These dynamics have weighed on global economic growth. Despite this backdrop, the Portuguese economy has maintained a solid trajectory. The Polish economy continues to grow at a robust pace and the Mozambican economy is also showing clear signs of normalization. Against this challenging context, the group delivered another quarter with a strong set of results. Net income reached EUR 565.8 million in the first half and a 12.7% year-on-year increase. This performance reflects the bank's sustained capacity to generate value and the resilience of our