Manfred Knof | Chief Executive Officer |
Bettina Orlopp | Deputy Chairwoman & Chief Financial Officer |
Benjamin Goy | Deutsche Bank |
Izabel Dobreva | Morgan Stanley |
Johannes Thormann | HSBC |
Stuart Graham | Autonomous Research |
Jeremy Sigee | BNP Paribas Exane |
Kian Abouhossein | JPMorgan |
Tobias Lukesch | Kepler Cheuvreux |
Riccardo Rovere | Mediobanca |
Anke Reingen | RBC Capital Markets |
Hugo Cruz | Keefe, Bruyette, & Woods |
Good morning, everyone, and welcome to our earnings call. In challenging times, the team has made a good job in the transformation of the bank and delivered a decent financial performance. With an operating profit of €1.3 billion, the first half of the year has been very successful.
Our customer business has been strong across all client groups from the Mittelstand consumers. Together with first benefits from rising rates, this has led to a large increase in revenues by 20%.