Banque Cantonale Vaudoise (BQCNF) Q2 2026 Earnings Call Transcript

SA Transcripts 161.94K Followers Follow Banque Cantonale Vaudoise ( BQCNF ) Q2 2026 Earnings Call August 20, 2026 8:00 AM EDT Company Participants Pascal Kiener - CEO & Member of Management Board Thomas Paulsen - CFO, Head of Finance & Risks and Member of the Executive Board Conference Call Participants Stefan-Michael Stalmann - Bernstein Autonomous LLP Andreas Venditti - Bank Vontobel AG, Research Division Ausano Cajrati Crivelli Mesmer Nobili - Zürcher Kantonalbank, Research Division Presentation Pascal Kiener CEO & Member of Management Board Okay. Good morning, everybody. Pascal Kiener, CEO of BCV speaking. Let me jump directly on Page 4 to comment what I consider are the key messages of our H1 results. Basically, BCV is doing quite well with continued growth in all business sectors. Revenue are slightly up despite the negative or the low interest rate environment due to our, let's say, business model, which is quite diversified, the most diversified in terms of revenues of all cantonal banks due to private banking and asset management. And then in this uncertainty world and also in this environment of, let's say, very low interest rates, we try to master and to control very tightly our cost. And you see that the overall cost, meaning personnel cost, operating expense as well as amortization are up only 1%. Basically, this results in a net profit up 5% compared to last year, CHF 225 million. Then I go directly on Page 6. You see the different business volume, mortgage, other loans, deposits. So everything is up. In terms of deposits, you have to add the 2 elements, sight deposit and other client deposits in aggregate, this is +3%. In terms of rating being financial -- extra financial ESG rating, financial rating, Moody's and S&P have confirmed their rating, which is okay. We didn't expect anything else, but I think it's good to say that. And in terms of ESG