Welcome to CGD's conference call. This call follows the first half 2023 consolidated results release, which took place last Friday. It is possible to follow the results presentation from the CGD website. The CFO, Mrs. Paula Geada, and the Head of IR, Mr. Nuno Pereira, will guide you through the presentation. A question and answer session will follow. Good morning, I'm Nuno Pereira from Investor Relations, welcome to CGD's first half 2023 results presentation. This has been a semester where the bank has confirmed its strong profitability trend while receiving recognition from the market in terms of improved ratings. It's my pleasure to introduce to you today, our new CFO, Paula Geada. Without further ado, Paula, I'll hand you over the floor, and we'll start the presentation. Good morning, everyone, and thank you for assisting the call. As usually, the methodology that we propose is to be brief, to leave more time for Q&A. Let's start on page five of our presentation with the main highlights. In terms of profitability, CGD Group consolidated to a net income of EUR 608 million, is a sign of its recovery in the recent years and the current scenario of interest rate increase. The evolution of the net income offsets accumulated losses in 2011-2016 periods. The average return on equity of the last 10 years reached 0.9%, while in the period after the recapitalization rise to 7.7%. The net income from our international activity also continued to grow. Net income exceeds EUR 100 million, and the recurrent efficiency ratio below 30% in an inflationary context. In terms of business activity, we want to highlight that CGD maintains leadership in deposits, customer resources, and mortgage loans. In the context of market retractions with the SME loan portfolio growing 1% in this period. As capital is concerned and as we communicated in June, the general meeting approved a dividend distribution of EUR 352 million for 2022, the highest ever, plus the distribution in kind of EUR 361 million, subject to the authorization of the European Central Bank in form of transfer of ownership of CGD's headquarters in a total of EUR 730 million. Early repayment of the Tier 2 issue of EUR 500 million, fully repaying the private sector financing of the 2017 recapitalization. Capital ratio achieved with a nine margin, CET1 at 19.3% and total capital at 19.6% after payment of dividend. With this operation, CGD delivered in this year EUR 1.2 billion of total capitalization amount, offsetting EUR 1,675 million of EUR 2.5 billion in public investment, 2/3 of the total. In terms of asset quality NPL ratio, net impairment remains at zero. The cost of credit risk at 40 basis points to reflect the conservative and preventive approach to the uncertainties of the environment. Moving to page six, we can see the breakdown of the net income. In terms of profitability, CGD has a net income of EUR 608 million, representing an increase of EUR 122 million compared to the same period of previous years at 25%. The contributions of the domestic treasury activity in case of deposits in central banks, it should be noted that in the first half of this year, the negative interest rates applied by the European Central Bank represented a cost, which is the opposite of first six months of this year, when positive rates were recorded, resulting in an increase of interest income from investments in central bank by EUR 253 million. The remaining domestic treasury activity, including the security portfolio management, was up EUR 32 million. As in the first quarter and taking into account the market conditions with high interest rates, the driver for the result increase comes from retail interest income. Household retail is at EUR 270 million, and corporate and other customers is at EUR 148 million. There is also positive extraordinary contributions from the income from financial operating the results from sale of assets from the existing pension fund that occurred in the first quarter. As you can see, the driver of this result is no more the reductions of cost and the increase of commission. On the negative side, in provisions and impairments for credit risk, we have a reinforcement of credit impairments, reflecting a defensive and preventive approach, and an increase on other provisions and impairments, mostly the provisioning of the restructuring program costs. Moving to page seven. This result is a milestone in CGD history, as the combined result generated after the recapitalization make it possible to offset the accumulated losses from 2011 to 2016. The average return on equity of the last 10 year reached 0.9%, while in the period after the recapitalization rise to 7.7%. On the next page eight, in an unstable and uncertain economic context, CGD Group maintains the leadership on deposits, credits, services, and investment. In the next slide, we can see this with more detail. On page nine, in terms of awards, CGD continues to be distinguished in its performance, both in digital, in customer service, and in the investment funds. Moving to page 10, both our leadership position and the market recognizing drives increasing demand on CGD as a proactive response to the increasing cost of mortgage loans. CGD creates an interest rate subsidy as an extraordinary CGD support, spread reduction of up to 0.5% in installments from July to December 2023 for customers covered by state support, and a competitive and diversified offer in terms of deposits. Going to page 11. Digital business is growing strongly, with rates to sales up more than 80% in terms of evolution of number of digital customers. The number of active customers reached 2.3 million between companies and families, with a growth of 7% year-on-year. About 67 of our clients, they trade actively on our app. The mobile channel has a growth of 16%. Moving to page 12, some of the highlights of customer experience improved by new digital offer. We have new offers on retail and corporate. We want to highlight on business the availability of ESG rating on July on Caixadirecta. CGD is the only bank that has this service for clients. On the next page, CGD actively contribute to sustain the sustainable development. This is another key pillar of our strategy. In terms of sustainable finance, we highlight the publication of the Allocation and Impact Report concerning the two green debt issuances performance in 2022. CGD has been committed to contributing to a better society, providing banking products and services designed to improve the well-being of households and the development of the business sector. The 2021, 2024 sustainability strategy embodies CGD ambitions to become the leaders in sustainable finance in Portugal, supporting the transition to a low carbon economy and the financing project with a social impact on people's lives. On page 14, we can see a rating upgrade in the context of the recognized improvement in the Portuguese banking system. CGD performance was recognized by rating agencies in the semester, with DBRS upgrading senior debt to BBB (high). In May, while Moody's raised the baseline credit assessment rating to baa2, the same level as the Portuguese Republic, and placed the debt rating on positive outlook. Subordinated debt was has also affirmed or upgraded and now enjoy an investment grade status. This combination of this improvement is beneficial for CGD ability to raise funds under favorable conditions in the market if needed. Moving to the results and balance sheet and going to page 16, there is a stable loans portfolio in a scenario of decreasing demand. We continue to be market leaders in terms of total credit, with a market share of 18%. In Portugal, the loans and advance to SME grew 1%, consistent with our strategy of economic support. If we skip to page 17, the combined portfolio to corporate and the public sector increased about 2% in these six months, which is the main focus of development of our activity and compared to a contraction of the market. Again, very positive performance also on the equipment leasing. We hold market leadership, market share 24%, with an increase in production 53%. It's also important to highlight the increase on trade finance products, non-financial insurance, the level of digitalization of our business, and increased rates in the ESG business, as you can see in the left-hand side. Moving to the next page. When you look at the stock of the portfolio, there is a decrease of around 2% year to date, but CGD preserves leadership in market share in the context of restrictive monetary policy. Overall, there is a trend of reduction in demand for new mortgage loans resulting from the increase in interest rates in an uncertainty scenario regarding the economic development and the inflationary trend. As you saw in the last quarter, in terms of loan to value of the new production, we continue to have a decrease. On the right-hand side, since 2010, the LTV decreased 11 basis points. In the middle graphic, we have good news as well. The average LTV credit portfolio is 59%, and only 12% of the LTV is above 80%. These values show us that CGD adopts prudent credit ranking criterias, reinforcing the ability to absorb potential adverse shocks. Skipping to page 19. We continue to keep the leadership market share on deposits. We see an increase in last month in deposits, in spite of the significant decrease in the first five months of this year. These results show us that Caixa continues to be a trust brand for Portuguese. I think it's important to remember the huge increase of loans in the COVID period between 2019 and 2022. Stocks of deposits grew continuously during the COVID period and decreased in 2022. But despite this decrease, we maintain the volume of deposits above the value before COVID. Going to page 20, commission decreased 5% in consolidated and 3% in domestic, with a downward trend until the end of the year. As I said in the beginning of this presentation, the increase in income is no longer driven by commission growth. It's very important to transmit that CGD has not revised its commission pricing this year. The 8% decrease in other commissions is justified by fall in demand. The market evolution impacts the amount of fees and commissions on funds. On side of growth, the purchase with the CGD card grew at 14% versus 2022, and 45% versus 2021, and the positive evolution of the non-financial insurance portfolio. Skipping to the next page 21. Operating costs rise in connections of restructuring program. Therefore, there was an increase in operating costs, both on the consolidated and domestic. The administrative expense and depreciation reflect somewhat the level of inflation, and also the impact of the increased investment in some projects, such as client service and transformation program with IT in effect. Overall, the costs are growing at a very controlled level. On page 22, we want to address the high regulatory cost. On page 23, as I said, the operating costs are moderately increasing, but of course, with upward trending revenue. We had a significant reduction from cost-to-income, so this ratio show us an improvement of efficiency. Going to the next slide on our international activity, we highlight that the recurring net income of the international area improved, compared to the same period of last year. I would like specifically to highlight Macau, the recovery after the COVID period. This contribution reflects the increase in net income interest, in the net income, net interest income, and the reduction in provisions and impairment. Moving to the page 25, and, in terms of asset quality, the volume of non-performing loans in this six months decreased 3.8%. The 5 basis point increase in NPL ratio, essentially happened because of the decrease in total assets. In terms of asset quality, the volume of NPL remains stable as a result of the combined effects of evolution in the component of good and the recovery side, and write-off against influence. Despite the current environment, we are not seeing credit degradations in our portfolio. Moving to the next page, 26. When we look at the breakdown and the evolution by stage of our credit, first consolidate and domestic, it is pretty stable. Stage 1 continues to represent more than 88% of loan portfolio. If you will look at the evolution of Stage 1 since the 2019, including the COVID period, we see that despite the slight decrease, we maintain an historical high value. Stage 3 remains at very low level, having decreased slightly in this period. Regarding Stage 2, there was a slight increase justified by current environment. However, it is important to note that these assets are not in default. There was only a degradation of credit risk in these assets. Concluding, the variations are already small, it's fair to consider its stable evolution. Now, on the next slide, 27, the net ratio of NPLs, net of impairments, continues to standard zero. This slide shows the proactive view in managing the credit portfolio is with a preventive and conservative approach. Going to the next slide, 28. In first half of this year, we want to highlight the increase of coverage ratio to an hundred 32.55%. Total coverage of 151.5%, including allocated collateral. Cash continues to enjoy highly favorable positions in term of its coverage level when compared to domestic and European average. If we keep to the next page, there was an increase in the level of impairment, which result in a cost of credit risk of 40 basis points. Growing interest rates and inflation are putting pressure on families and companies, so we have decided to increase impairment as a precautionary and conservative approach as I said. This cost of capital, which is basically the same level of credit risk that we had in the 2020, after the COVID started. It was a complicated and stressful period too, and we hope to have the same trend that we have after the pandemic period. Going to the next page, 30. In terms of non-core assets, there are some changes that result essentially from the extension of the pension fund. The value of properties for sale has further decreased in this period, if we remove the value of the property that CGD received. We intend to put for sale all these assets in the next quarters, in coming quarters, okay? On the next page, with regarding to CGD Group funding structure, customer deposits assume a fundamental weight, representing 90.7% of total consolidated liability. A liquidity position remains robust and sustainable, and the loan-to-deposit ratio in June of this year stood at 64%, an increase compared to the end of the last year. At the end of June 2023, the liquidity coverage ratio stood at 278.3%, a value much higher than the current regulatory liquidity coverage requirement of 100%. Skipping to the next page, we can see that CGD has enough capacity to assess funding. At the end of June 2023, the total value of CGD Group assets available as collateral for the Eurosystem amount is around EUR 14.4 billion, to which the significant almost available funds with the Bank of Portugal must be added. On the next page, capital ratio exceeds by far the regulatory requirement to CET1 and total capital ratio, even after early repayment of the Tier 2 issue. The track requirement meets with ample margin after call of Tier 2 issue. The fully loaded CET1, Tier 1, and total ratio were about the track requirement with security margin. I think it's important to remind that ratios include net income for the period, the deficit of the maximum distributable amount according to the dividend policy, and the payment of dividends in kind, both subject to the authorizations of the European Central Bank. These ratios above Portuguese and European average show CGD robust acquisition. On next page, at the end of first half of the current year, the amount of own funds and eligible liability held by CGD within the scope of the MREL represented 27.09% of total risk weighted asset, exceeding the value applicable from January 1, 2024, 26.44%. It should be noted that this result occurred after the early redemption of the Tier 2 issue in June, the first available data to do this call. Going to the next slide. I would point out that CGD intends to return the fully amount of the capitalization to the Portuguese state in the next two years, taking into account the dividend policy, the maximum amount to be distributed on the basis of the result of the first half of 2023, is EUR 243 million, with a return of the EUR 582 million still to be completed. A dividend distribution of EUR 352 million for 2022 was approved in general meeting. This dividend was the highest ever, and was complemented by a distribution in kind for the amount of EUR 361 million, subject to the authorization of the European Central Bank, including the transfer of the ownership of its headquarters building to its sole shareholder for the amount of EUR 713 million paid in this year. Early payment of the Tier 2 for the amount of EUR 500 million was made in June in full settlement of private sector financing in the recapitalization. These operations as well represent a cash payment of EUR 1.2 billion of the amount of its recapitalization this year, in each payment of EUR 1,675 million, of the EUR 2.5 billion in public investment and representing two-thirds of the total. On the next page, we have another ratio that shows the solidity of CGD, with tax ratio below 20%, in the first time. Last but not least, on page 37, just the normal comparisons with Portuguese and European average. CGD compares very well with all players in this period, but in terms of profitability, asset quality, efficiency, and capital. This shows the CGD that we have built and the CGD that we want to be in the future. Thank you. Okay, thank you. We will be glad to take your questions if you have any. At this time, if you'd like to ask a question, please press star one on your telephone keypad. Again, that is star one now to ask a question. One moment while we queue. It appears that we have no questions, but once again, that is star one to ask a question. One moment, please. It appears that we have no questions at this time. Okay, in that case, I would like to thank everyone for their time today, and should there be any questions, in the future, please feel free to contact the investor relations team. Thank you and have a good morning. Thank you for attending the conference call. The audio webcast will be available on the CGD website. Everyone, have a great day!