Latest news with #BPIRF
Yahoo
10-05-2025
- Business
- Yahoo
Piraeus Financial Holdings SA (BPIRF) Q1 2025 Earnings Call Highlights: Strong Profit Growth ...
Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Piraeus Financial Holdings SA (BPIRF) reported a strong net profit of EUR 284 million for Q1 2025, marking a 22% increase year-on-year. The company achieved a return on average tangible book value of 14.7%, surpassing the 2025 target of approximately 4%. Asset quality remains solid with a non-performing exposure (NPE) ratio at 2.6% and a historic low cost of risk at 35 basis points. The loan book expanded by EUR 1.1 billion in Q1 2025, continuing the strong momentum from 2024. Piraeus Financial Holdings SA (BPIRF) increased its assets under management to EUR 12.5 billion, already exceeding the 2025 target. Net interest income declined by 7% annually due to a material drop in interest rates. The company faces potential capital volatility from its securities book, which was not booked in amortized cost. There is uncertainty regarding the impact of Basel 4 and other regulatory changes on capital ratios. The mortgage market growth is expected to be moderate, with some initiatives progressing slower than anticipated. Further reductions in net interest income are expected in the coming quarters due to the normalization of base rates. Warning! GuruFocus has detected 8 Warning Signs with BPIRF. Q: What is the rationale behind the choice of not booking the increase in the securities book in amortized cost, and how are you managing potential capital volatility from these positions? Also, could you clarify the capital impact from the acquisition of ethnic insurance? A: The decision was to book the new additions under the OCI book with corresponding hedging instruments to avoid volatility. The capital impact from the ethnic insurance acquisition is expected to be between 150 and 160 basis points, with potential application of Article 49 of CRR3, though not currently in the primary plan. Q: How should we think about credit expansion seasonality across the year, and can you provide any insights into the current lending pipeline or changes in customer behavior? A: The first quarter was particularly strong with significant transactions setting the tone for the year. We are not upgrading our full-year guidance yet but remain vigilant. The retail consumer market is positive, and we expect moderate growth in the mortgage market by year-end. Q: How does the business outlook change if rates go below certain levels, and what are the drivers behind the increased NII sensitivity this quarter? A: The increased sensitivity is due to the unfreezing of mortgages, which are now sensitive to rate cuts. The assumed pass-through of rate cuts into time deposit costs is at 60%, currently at 52%. We expect the NII guidance to hold even with rate cuts, as growth is expected to mitigate any potential drop. Q: What is the outlook for NII in the coming quarters, and how do you see loan growth shaping up after a strong Q1? A: The book is still normalizing to new rates, and further NII reduction is expected, but growth will mitigate part of the drop. We are reconfirming our guidance of 2.6 billion in net credit growth for the year, with strong dialogue across various sectors. Q: Can you clarify the magnitude of living expenses related to Snappy in Q1, and what should we expect regarding servicing fees in the coming quarters? A: Snappy-related expenses in Q1 were $5 million, and this is expected to continue. Servicing fees are expected to see a mild reduction, having normalized to current levels. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Piraeus Financial Holdings SA (BPIRF) Q1 2025 Earnings Call Highlights: Strong Profit Growth ...
Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Piraeus Financial Holdings SA (BPIRF) reported a strong net profit of EUR 284 million for Q1 2025, marking a 22% increase year-on-year. The company achieved a return on average tangible book value of 14.7%, surpassing the 2025 target of approximately 4%. Asset quality remains solid with a non-performing exposure (NPE) ratio at 2.6% and a historic low cost of risk at 35 basis points. The loan book expanded by EUR 1.1 billion in Q1 2025, continuing the strong momentum from 2024. Piraeus Financial Holdings SA (BPIRF) increased its assets under management to EUR 12.5 billion, already exceeding the 2025 target. Negative Points Net interest income declined by 7% annually due to a material drop in interest rates. The company faces potential capital volatility from its securities book, which was not booked in amortized cost. There is uncertainty regarding the impact of Basel 4 and other regulatory changes on capital ratios. The mortgage market growth is expected to be moderate, with some initiatives progressing slower than anticipated. Further reductions in net interest income are expected in the coming quarters due to the normalization of base rates. Q & A Highlights Q: What is the rationale behind the choice of not booking the increase in the securities book in amortized cost, and how are you managing potential capital volatility from these positions? Also, could you clarify the capital impact from the acquisition of ethnic insurance? A: The decision was to book the new additions under the OCI book with corresponding hedging instruments to avoid volatility. The capital impact from the ethnic insurance acquisition is expected to be between 150 and 160 basis points, with potential application of Article 49 of CRR3, though not currently in the primary plan. Q: How should we think about credit expansion seasonality across the year, and can you provide any insights into the current lending pipeline or changes in customer behavior? A: The first quarter was particularly strong with significant transactions setting the tone for the year. We are not upgrading our full-year guidance yet but remain vigilant. The retail consumer market is positive, and we expect moderate growth in the mortgage market by year-end. Q: How does the business outlook change if rates go below certain levels, and what are the drivers behind the increased NII sensitivity this quarter? A: The increased sensitivity is due to the unfreezing of mortgages, which are now sensitive to rate cuts. The assumed pass-through of rate cuts into time deposit costs is at 60%, currently at 52%. We expect the NII guidance to hold even with rate cuts, as growth is expected to mitigate any potential drop.
Associated Press
09-04-2025
- Sport
- Associated Press
Bill Pickett Invitational Rodeo Foundation Announces Winners of the 2025 Crown Royal Hats Off $100,000 Grant
Bill Pickett Invitational Rodeo Foundation Crown Royal Hats Off Grant Recipients MEMPHIS, TN, UNITED STATES, April 9, 2025 / / -- The Bill Pickett Invitational Rodeo Foundation (BPIRF) is proud to announce the recipients of the Crown Royal Hats Off Grant, a $100,000 initiative aimed at empowering Black cowboys and cowgirls to pursue their passion for rodeo. The award-winning whisky brand Crown Royal has generously provided $100,000 to BPIRF through The Hats Off Grant, reinforcing its commitment to inclusivity, accessibility, and support for the Black rodeo community by offering financial support to rising rodeo athletes across the country. The mission of this initiative is to help break down barriers and ensure greater access to competitive rodeo opportunities for the next generation. In a continued effort to empower the African American Rodeo Community, The Hats Off Grant was launched to uplift and inspire BPIR rodeo athletes. In partnership with Crown Royal, the goal is to ensure these rodeo participants have the resources needed to continue excelling in the sport. The 2025 $100,000 grant was divided among six deserving cowgirls and cowboys, providing crucial funding to advance their rodeo careers: • $20,000 Grant Recipients: o Breanna Meyer o Azja Bryant o Daryl Elliott o Dennis Chachere • $10,000 Grant Recipients: o Kanesha Jackson o Wyatt Raymond This marks another significant achievement for BPIR rodeo athletes. 'At BPIR and the Foundation, we are honored to announce the 2025 Crown Royal Hats Off Grant recipients,' said Valeria Howard Cunningham, CEO and President of both BPIR and BPIRF. 'This grant reaffirms our commitment to supporting our BPIR cowboys and cowgirls that have supported BPIR over the years, and I couldn't be more excited for these six deserving winners.' 'Through the Hats Off Grant and Royal Rider program we are proud to support and celebrate talented individuals who keep the spirit of rodeo alive,' said Hadley Schafer, VP of Crown Royal. 'For four years, we've worked alongside the Bill Pickett Invitational Rodeo and we are honored to be able to provide opportunities for riders through the grants. We are committed to honoring this storied tradition and do our part to help uplift the local rodeo community that keeps that keeps the sport thriving.' Join the Celebration and follow @BillPickettRodeo and @CrownRoyal for updates on this partnership and ongoing initiatives from BPIR, BPIRF, and Crown Royal. As we celebrate this exciting moment in rodeo, we remind everyone: No matter how you enjoy Crown Royal this rodeo season, please do so responsibly. . About Bill Pickett Invitational Rodeo Foundation Since 1987, the Bill Pickett Invitational Rodeo Foundation (BPIRF) has upheld its commitment to the rodeo, education, and arts by providing unique programs across the country. BPIRF has a community first approach and works to close educational and skills gaps through the various programs we provide in underserved communities. BPIRF has made an impact in each state that the BPIR performs by awarding scholarships, rodeo grants and creating programs that support the communities and the Black Cowboys and Cowgirls. Please visit our website to learn more about the Bill Pickett Invitational Rodeo Foundation at and to see all the great work the foundation is doing around the country. About the Bill Pickett Invitational Rodeo Founded in 1984 by Lu Vason, the Bill Pickett Invitational Rodeo is the nation's longest-running African American touring rodeo association. Named in honor of legendary cowboy Bill Pickett, BPIR was created to spotlight the overlooked history and contributions of Black cowboys and cowgirls. For more than four decades, BPIR has preserved and promoted Black equestrian culture, educating audiences about its critical role in shaping the American West. Under the leadership of Valeria Howard Cunningham, BPIR continues to honor this legacy, inspire future generations, and break barriers in the rodeo world. About Crown Royal Crown Royal Canadian Whisky is the number-one selling Canadian whisky brand in the world and has a tradition as long and distinctive as its taste. Specially blended to commemorate a grand tour of Canada made by King George VI and Queen Elizabeth of Great Britain in 1939, Crown Royal's smooth, elegant flavor and gift-worthy presentation reflect its regal origins – it is considered the epitome of Canadian whisky. For more information, visit Crown Royal encourages all consumers to please enjoy responsibly. About Diageo North America Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, Bulleit and Buchanan's whiskies, Smirnoff, Cîroc and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray and Guinness. Diageo is listed on both the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange (LSE: DGE) and their products are sold in more than 180 countries around the world. For more information about Diageo, their people, brands, and performance, visit Visit Diageo's global responsible drinking resource, for information, initiatives, and ways to share best practice. Follow on Twitter and Instagram for news and information about Diageo North America: @Diageo_NA. Michelle R Johnson - BPIR Media Relations Director Facebook Legal Disclaimer:
