Financial Data and Key Metrics Changes - Reported sales increased by 5% year over year, with organic sales up over 4% [9][22] - Adjusted EPS was $2.82, exceeding expectations due to higher volume and strong execution on cost reduction [14][23] - Free cash flow reached $489 million, up $251 million from the prior year, with a conversion rate of 153% [24] Business Segment Data and Key Metrics Changes - Intelligent Devices organic sales rose by 1%, with double-digit growth in products offsetting declines in longer cycle configured to order business [10] - Software and Control organic sales grew by 22% year over year, driven by strong hardware sales [11] - Lifecycle Services organic sales declined by 6% year over year, aligning with expectations due to difficult comparisons [13] Market Data and Key Metrics Changes - The Americas, EMEA, and Asia all experienced year-over-year orders growth, with a total company book to bill ratio of approximately 1.0 [8] - Discrete sales grew by 10%, driven by automotive and e-commerce sectors, while hybrid industries saw high single-digit growth [14][16] - Process Industries sales decreased by low single digits due to weak global demand and volatile commodity prices [17] Company Strategy and Development Direction - The company plans to invest over $2 billion in plants, digital infrastructure, and talent over the next five years to enhance competitiveness and expand margins [6][38] - Focus on operationalizing cost reduction and margin expansion initiatives as part of the core business strategy [37] - Emphasis on automation and digital transformation to drive future growth and efficiency [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to year-over-year growth and improving outlook in key verticals [44] - The company anticipates continued challenges from trade policy uncertainties and geopolitical risks [20][22] - Adjusted sales growth guidance for the year is now in the range of positive 1% to negative 2% [22] Other Important Information - The company achieved its full-year productivity goal of $250 million a quarter earlier than expected [5][36] - The adjusted effective tax rate for the third quarter was 15.2%, up from 13.3% the previous year [23] - Share buybacks in Q3 totaled approximately 500,000 shares at a cost of $123 million [33] Q&A Session Summary Question: Discussion on CapEx investments - Management clarified that the $2 billion investment is a strategic move to expand margins and enhance operational efficiency, not merely a catch-up on past investments [50][56] Question: Outlook on growth and operating leverage - Management indicated that they are optimistic about growth despite potential tax headwinds and are committed to margin expansion [63][66] Question: Insights on project delays and bookings - Management noted that while there are delays in projects, there are no cancellations, and they expect an increase in orders related to new capacity in the upcoming fiscal year [80][84] Question: Margin potential in Intelligent Devices segment - Management expressed commitment to improving margins in the Intelligent Devices segment through cost reductions and operational excellence [86][89]

Financial Data and Key Metrics Changes - Syncora reported consolidated revenue of $80.7 billion, an increase of 9% year-over-year, driven by growth in both reporting segments [18] - Adjusted operating income grew by 21%, while adjusted diluted EPS increased by 20% [7][17] - Consolidated gross profit was $2.9 billion, up 21%, with a gross profit margin of 3.55%, reflecting a 36 basis point increase [19] - Net interest expense rose to $82 million, an increase of $50 million compared to the prior year, primarily due to debt raised for the RCA acquisition [21] - The effective income tax rate was 20.7%, slightly down from 21% in the prior year [21] Business Line Data and Key Metrics Changes - U.S. Healthcare Solutions segment revenue was $72.9 billion, up 9%, benefiting from strong pharmaceutical utilization trends, including a 19% increase in GLP-1 sales [23] - Operating income for the U.S. Healthcare Solutions segment increased by 29% to $9.2 billion, driven by growth across distribution businesses and contributions from RCA [24] - International Healthcare Solutions segment revenue was $7.8 billion, up approximately 11% on an as-reported basis, but operating income declined by 13% due to softness in higher-margin global specialty logistics [25] Market Data and Key Metrics Changes - The U.S. segment is expected to see revenue growth in the range of 9% to 10%, while the International segment is projected to grow by 6% to 7% on an as-reported basis [28][29] - On a constant currency basis, International Healthcare Solutions segment revenue growth is expected to be 7% to 8% [30] Company Strategy and Development Direction - Syncora's strategy focuses on enhancing patient care, strengthening specialty leadership, and leading with market leaders [8][14] - The company is committed to digital transformation, talent development, and prioritizing growth-oriented investments [14][15] - Investments in technology and capabilities, including the acquisition of RCA, are aimed at enhancing service offerings and market position [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strong performance of the U.S. Healthcare Solutions segment, despite a loss of an oncology customer due to acquisition activity [31] - The company anticipates sequential improvement in operating income for the International Healthcare Solutions segment, expecting a return to growth in the fourth quarter [32] - Management remains engaged with policymakers to ensure access to community providers is maintained amid evolving healthcare policies [49] Other Important Information - The company raised its fiscal 2025 EPS guidance to a range of $15.85 to $16, reflecting continued strong performance [27] - Adjusted free cash flow guidance remains unchanged at $2 billion to $3 billion for the full year [22] Q&A Session Summary Question: Can you discuss the U.S. Healthcare segment's revenue growth moderation? - Management noted that revenue growth moderation was due to factors such as biosimilars impact, moderated GLP-1 growth, and the loss of a high-revenue but low-margin customer [36][38] Question: What is the outlook for the international business and clinical trial activity? - Management indicated that clinical trial activity has been subdued, impacting the international segment, but recent improvements in trial start statistics are encouraging for future demand [42] Question: How is the RCA acquisition tracking against expectations? - Management expressed satisfaction with the RCA acquisition, highlighting strong cultural fit and positive early customer feedback [46] Question: What are the potential impacts of the proposed hospital outpatient perspective rule? - Management acknowledged the ongoing political discussions but emphasized that it is too early to determine the full impact on the competitive environment [48] Question: How does the company view the competitive landscape in specialty distribution? - Management stated that they remain focused on their strengths in specialty areas like retina and oncology, and are continuously evaluating future opportunities [82] Question: What are the moving pieces for fiscal year 2026 guidance? - Management highlighted that while they expect continued strong performance, they do not anticipate the same level of rapid growth as seen in recent years [79]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $364 million, up 10% year over year on a reported basis and 9% on a constant currency basis [26] - Subscription revenues now represent 92% of total revenues, up two percentage points from the same period last year, with subscription revenues growing 12% year over year [27] - The company ended Q2 with an Annual Recurring Revenue (ARR) of $1.379 billion, with a year-over-year growth rate of 11.5% on a constant currency basis [29] - Free cash flow was $57 million for the quarter and $273 million year to date, with an increased full-year free cash flow outlook raised to a range of $430 to $470 million [33] Business Line Data and Key Metrics Changes - The company added 300 basis points of ARR growth from new logos, primarily within the SMB segment, and added more than 600 new SMB logos for the fourteenth consecutive quarter [18] - Subscription revenues grew 12% year over year, while perpetual license revenues decreased to $10 million, down $1 million year over year [27][28] - Professional services revenues declined 7% for the quarter, now representing 6% of total revenues [28] Market Data and Key Metrics Changes - The Americas region showed solid growth, particularly in Latin America, while the US accounts remained confident despite uncertainties related to tariffs and policy shifts [20] - EMEA delivered solid growth, with the Middle East leading the region, and investment remains strong across transportation, energy, and water infrastructure [21] - In Asia Pacific, India showed positive sentiment across strategic national programs, while Australia experienced a slowdown in transportation spending [23] Company Strategy and Development Direction - The company is focused on going digital as a long-term growth driver, emphasizing the need for enhanced software utilization and AI in infrastructure engineering [4] - The acquisition of Cesium is aimed at expanding capabilities in 3D geospatial technology and integrating it with existing platforms [24][62] - The company is prioritizing AI and asset analytics in its R&D efforts, indicating a strategic shift towards leveraging AI to enhance productivity in engineering tasks [61][92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year outlook based on low double-digit ARR growth and continued margin expansion [16] - The demand for resilient infrastructure continues to outpace available engineering resources, positioning the company's software as crucial for productivity [16] - There is optimism regarding legislative changes that could enhance infrastructure investment, particularly in the US [20] Other Important Information - The company is well-positioned to benefit from upcoming infrastructure funding initiatives in the UK and Europe, with significant long-term funding earmarked for infrastructure projects [22] - The company’s net debt leverage was reduced to 2.4 times adjusted EBITDA, down from 2.9 times in 2024, indicating improved financial health [34] Q&A Session Summary Question: Did you notice an improvement sequentially now that we're past some of the initial tariff uncertainty? - Management indicated a consistent environment with positive outlooks from accounts, highlighting a demand problem rather than a capacity issue [40] Question: Do you have the right product set to reach engineers spending below a thousand? - The company confirmed that its traditional product, MicroStation, serves as an entry point for engineers and remains a growth driver in the SMB segment [43] Question: Can you elaborate on the data center opportunity? - Management noted that data centers represent a significant infrastructure opportunity, with software designed for both the data center and its surrounding infrastructure [49] Question: What drove the slight downtick in net retention rate (NRR)? - The NRR is fluctuating between 109% and 110%, with historical pressures from China affecting the overall figure [82] Question: How is the company leveraging AI in its products? - AI is seen as a key area for enhancing productivity in engineering tasks, with ongoing efforts to integrate AI capabilities into the company's software offerings [92]

Financial Data and Key Metrics Changes - Aflac Incorporated reported net earnings per diluted share of $1.11 and adjusted earnings per diluted share of $1.78 for Q2 2025, with adjusted earnings per diluted share decreasing by 2.7% year over year [5][16] - Adjusted book value per share excluding foreign currency remeasurement increased by 5.2% [16] - The adjusted return on equity (ROE) was 13.7% to 16.4%, indicating an acceptable spread to the cost of capital [16] Business Line Data and Key Metrics Changes - Aflac Japan experienced a 23.2% year-over-year sales increase, with a notable 53% increase in cancer insurance sales driven by the new product MiRyto [6][8] - Aflac US generated $340 million in new sales during Q2, reflecting a 2.7% year-over-year increase, with strong premium persistency of 79.2% and a 3.4% increase in net earned premium [9][10] - The total benefit ratio for Aflac US was 47.3%, which is 60 basis points higher than Q2 2024, driven by business mix [21] Market Data and Key Metrics Changes - Aflac Japan's net earned premiums declined by 4.8%, while underlying earned premiums, excluding certain impacts, declined by 1.1% [17] - Persistency in Japan remained solid at 93.7%, up approximately 40 basis points year over year [19] - In the US, the expense ratio improved to 36.3%, down 60 basis points year over year, driven by improved scale and expense efficiency [22] Company Strategy and Development Direction - The company is focused on maintaining strong premium persistency and expanding its product offerings to meet customer needs throughout different life stages [8][10] - Aflac is leveraging its broad distribution channels in Japan to optimize opportunities for financial protection [9] - The company aims to continue driving profitable growth with a stronger underwriting discipline and prudent expense management [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing need for Aflac's products, emphasizing the importance of being a partner in health for policyholders [11][15] - The company anticipates a stronger second half of 2025, driven by fourth-quarter bookings and a robust pipeline [66] - Management acknowledged the competitive landscape in the medical insurance market and plans to launch a new medical product within a year [84] Other Important Information - Aflac repurchased $829 million of its own stock and paid dividends of $312 million in Q2 2025, returning a total of $1.1 billion to shareholders [12][27] - The company celebrated several milestones, including the 30th anniversary of the Aflac Cancer and Blood Disorders Center [13] Q&A Session Summary Question: Impact of new cancer product on sales - Management indicated that the new cancer product, MiRyto, has gained traction and is expected to continue performing well, with strong sales across all channels [40] Question: Japan investment income trajectory - Management noted that variable net investment income (NII) improved due to better portfolio marks and strategic trades, with optimism for a solid second half of the year [44] Question: Approach to capital deployment and M&A - Management stated that capital deployment is based on operating capital generation, with a focus on organic growth and returning capital to shareholders through dividends and buybacks [61][75] Question: U.S. sales performance and expectations - Management acknowledged sluggish sales growth in the U.S. but expects stronger performance in the second half, driven by improved recruitment and pipeline strength [66] Question: Expense ratio trends in Japan - Management expects the expense ratio in Japan to remain within the guidance range of 20% to 23%, with some technology projects driving expenses higher [73]

Company Overview & Strategy - Townsquare is a community-focused digital and broadcast media and digital marketing solutions company, primarily focusing on underserved small and mid-sized local markets outside the Top 50 markets in the U S[12] - The company has transformed into a Digital First Local Media Company, with over 55% of profit and revenue in the first half of 2025 sourced from digital advertising divisions and subscription digital marketing solutions[12] - The company's digital audience is approximately 5 times the size of its terrestrial radio audience[12] Financial Performance & Metrics - As of June 30, 2025, the Last Twelve Months (LTM) net revenue was $447 million and adjusted EBITDA was $101 million[16] - LTM digital net revenue reached $239 million, contributing to 53% of total net revenue and 52% of segment profit[18] - Digital subscription solutions (Townsquare Interactive) accounted for 18% of LTM total revenue and 26% of adjusted EBITDA as of June 30, 2025[18] - The company announced a quarterly dividend of $0 20 per share, representing an approximate 12% dividend yield as of August 5, 2025[17] Digital Segment Details - Digital Advertising segment's LTM net revenue was $162 million with a segment profit of $41 million, representing a 26% profit margin[24,63] - Subscription Digital Marketing Solutions segment's LTM net revenue was $76 million with a segment profit of $23 million[24,69] Broadcast Segment Details - Broadcast Advertising segment's LTM net revenue was $189 million with a segment profit of $49 million, representing a 26% profit margin[27] - The company's AM/FM terrestrial broadcast reaches 50% of adults in its local markets[42]

Financial Data and Key Metrics Changes - The company reported revenue of €10.3 billion for H1 2025, an increase of 2.5% compared to the previous year [23] - Comparable volumes were marginally ahead, up 0.3%, despite challenges in Indonesia [23] - Operating profit increased by 7.2% to €1.4 billion, with an operating margin expansion of 60 basis points to 13.5% [25] - Comparable diluted earnings per share rose by 3.1% to €2, reflecting a higher effective tax rate of 26% [25] Business Line Data and Key Metrics Changes - The core NARTD category grew by more than 5% in the last twelve months, with significant contributions from Monster and other brands [7] - Operating profit growth of 7.2% was driven by strong top-line performance and efficiency programs [13] - The energy category, particularly Monster, saw volumes increase nearly 15%, with retail value share growing by around 140 basis points [16] Market Data and Key Metrics Changes - European markets returned to volume growth in Q2, supported by favorable weather and the Easter holiday [11] - The Philippines market performed well despite strong comparables from the previous year, with overall value share growing by 10 basis points [12] - Indonesia's weaker consumer backdrop impacted total first half volumes, contributing to a 1% decline in group volumes [11] Company Strategy and Development Direction - The company is focused on driving profitable revenue growth while maintaining affordability and relevance for consumers [13] - A multiyear view on promotional and pricing strategies is emphasized to create sustainable value [12] - The company is investing in technology and digital capabilities to enhance productivity and drive future growth [10] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed full-year profit and cash guidance, indicating a revenue growth range of 3% to 4% for the year [8] - The company remains optimistic about long-term opportunities in Indonesia despite current challenges [37] - Management highlighted the importance of digital transformation and technology investments to unlock value [39] Other Important Information - The company completed around €460 million in share buybacks and maintained a dividend payout policy of approximately 50% [6] - The return of the "Share a Coke" campaign was well received, contributing positively to brand performance [15] - The company is recognized for its sustainability efforts, retaining inclusion on CDP's A List for Climate for nine consecutive years [21] Q&A Session Summary Question: Guidance on top line and bottom line growth - Management indicated that despite a slight change in revenue guidance, they expect acceleration in the second half driven by volume growth and pricing strategies [45][46] Question: Performance in Europe and away from home growth - Management noted strong performance in Europe due to favorable weather and increased consumer engagement, with a focus on cooler placements and promotional activities [52][55] Question: Competitiveness in the market - Management acknowledged ongoing competition but emphasized a commitment to sustainable value creation and effective pricing strategies [68][71] Question: Metrics for the "Share a Coke" campaign - Management tracks metrics such as shelf distribution and consumption rates to evaluate the success of the campaign, which has positively impacted volume and price mix [75][76] Question: Acceleration in away from home growth - Management highlighted the return of consumers to public spaces and the impact of weather on away from home sales, indicating a positive trend for the remainder of the year [80][86] Question: Medium-term growth outlook considering Indonesia - Management reiterated that while Indonesia presents challenges, it is not critical to achieving midterm growth objectives, as other markets can offset weaknesses [90][93] Question: Update on COGS and hedging - Management reported being over 90% hedged for 2025 and around 60% for 2026, with expectations of flat commodity prices [96][97] Question: Update on Australian margin turnaround - Management expressed optimism about the Australian business's margin recovery, supported by structural changes and efficiency improvements [101][102]

Financial Performance - Revenue reached €10.3 billion, a 2.5% increase[29] - Operating profit increased by 7.2% to €1.4 billion[12, 29] - Comparable free cash flow was €0.4 billion[12, 29] - Interim dividend per share is €0.79[12, 29] Strategic Initiatives and Growth - The company is targeting €350-400 million in efficiencies by 2028 through a productivity mindset[7, 32] - The company reaffirms FY25 profit and cash guidance[10] - The company expects revenue growth of 3% to 4% for FY25[33] - The company expects operating profit growth of approximately 7% for FY25[33] Market and Portfolio - Non-Alcoholic Ready-To-Drink (NARTD) represents a €170 billion market in 2024[9] - Hot Coffee represents a €9 billion market in 2024[9] - Hot Tea represents a €5 billion market in 2024[9] Shareholder Value - The company has returned approximately €7.8 billion in cash since 2016[7] - The company is executing a new share buyback program of approximately €460 million[13, 29, 33]

Core Insights - Life Time Group reported strong Q2 FY2025 results, with adjusted earnings per share of $0.37, a 48.0% increase year-over-year, surpassing consensus expectations of $0.32 [1][2] - Revenue reached $761.5 million, a 14.0% year-over-year increase, also exceeding analyst forecasts [1][2] - The company raised its full-year 2025 guidance for revenue and adjusted EBITDA, indicating continued operational progress [1][10] Financial Performance - Adjusted EPS (Non-GAAP) for Q2 2025 was $0.37, up from $0.25 in Q2 2024, reflecting a 48.0% increase [2] - GAAP revenue for Q2 2025 was $761.5 million, compared to $667.8 million in Q2 2024, marking a 14.0% increase [2] - Adjusted EBITDA reached $211.0 million, a 21.6% increase from $173.5 million in Q2 2024 [2] - Net income (GAAP) was $72.1 million, up 36.6% from $52.8 million in Q2 2024 [2] - Free cash flow (non-GAAP) was $112.5 million, influenced by $138.8 million from property sale-leaseback activity [5] Membership and Revenue Drivers - Membership dues and enrollment fees accounted for approximately 71.7% of total center revenue [6] - Average revenue per center membership increased by 11.8% to $888, driven by price increases and higher adoption of in-center services [6] - Comparable center revenue grew 11.2% year-over-year, supported by new club openings and increased in-center participation [6] Operational Strategy - Life Time focuses on boosting revenue per member and targeting higher-income demographics while expanding its center network [4] - The company employs an asset-light growth model, leasing most new centers to reduce risk and enable steady expansion [8] - Management emphasized the importance of maximizing member engagement and delivering a superior in-center experience [4] Future Outlook - Life Time raised its full-year 2025 revenue guidance to between $2.955 billion and $2.985 billion, with adjusted EBITDA targeted between $805 million and $815 million [10] - The company forecasts comparable center revenue growth of 9.5% to 10.0%, an increase from previous expectations [10] - Plans to open 10 new centers this year while maintaining net debt leverage below 2.0x [10]

Financial Data and Key Metrics Changes - Organic revenues were essentially flat, in line with previous guidance, while OIBDA was $124 million and AFFO was $85 million [12][19] - Billboard revenues decreased by 2.5%, primarily due to the exit of two large marginally profitable contracts in New York and LA [13][14] - Transit revenues grew by 5.6%, driven by a 17% increase in digital revenues [14][16] - Digital revenues represented over 34% of total organic revenues, with programmatic and digital direct automated sales up nearly 20% [16][18] Business Line Data and Key Metrics Changes - Billboard revenues were impacted by the exit of contracts, with traffic and other billboard revenues down 1.6% and digital billboard revenues down 4.5% [13][14] - Transit revenue growth was supported by mid-single-digit growth in the New York MTA, despite a strong performance in 2024 [14][18] - Commercial revenues increased by 1.4% year-on-year, while enterprise revenues declined by 4% [17] Market Data and Key Metrics Changes - The strongest revenue categories were legal, financial, service providers, and insurance, while weaker categories included entertainment, health and medical, restaurants, and alcohol [14] - The company noted a significant opportunity in engaging digital media buyers who have not yet embraced digital out-of-home advertising [16] Company Strategy and Development Direction - The company has undergone a significant internal reorganization to enhance revenue growth and redefine sales categories [6][9] - A redesigned brand solutions group has been established to drive demand from enterprise marketers across major industry verticals [7][12] - The focus is on operational excellence, reducing administrative burdens, and optimizing sales strategies [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting revenue growth to accelerate in Q3, driven by transit growth and a low single-digit decline in billboard revenues [30][31] - The company is determined to address industry challenges such as complexity, measurement, and attribution to enhance its role in the marketing mix [32] Other Important Information - A restructuring charge of $19.8 million was incurred due to workforce reductions, with expected annualized expense savings of $18 million to $20 million [19][20] - The company maintained a $0.30 cash dividend payable on September 30 [28] Q&A Session Summary Question: Are you through the heaviest period of changes to the business? - Management indicated that while significant restructuring has occurred, ongoing efforts to modernize workflows and improve demand generation are still in progress [36][37] Question: Can you help unpack the weakness in the entertainment vertical? - Management noted that the absence of key studios supporting their slate contributed to the weaker performance, but they are optimistic about future growth in this sector [41] Question: What are the drivers behind the acceleration in transit? - Key performance improvements in New York, management focus, and incentives were highlighted as factors driving transit growth [44] Question: What is the anticipated impact from the MTA and LA contract exit? - The exit of these contracts is expected to be a headwind in Q3, but the company anticipates recovery in subsequent quarters [45] Question: Is the decline in static transit revenue structural? - Management acknowledged that the decline in static transit revenue is likely structural, as there is a growing preference for digital formats [49][50] Question: What is the potential for margin expansion in the back half of the year? - Management expects significant cost savings from restructuring, with potential margin improvements anticipated in 2025 [53][58] Question: Are there any cost levers left to pull if revenue remains soft? - Management confirmed that there are always cost levers available, but they are currently focused on the impact of recent changes [55][56] Question: Can you discuss regional variations in revenue growth expectations? - Management indicated that while there are no significant regional variations, California and New York remain the strongest markets [65][66]

Financial Performance Highlights - Net income reached $64.2 million, up 24% QoQ and 28% YoY[2] - Return on Equity (ROE) hit 18.5%, a 303 Bps increase QoQ and 222 Bps YoY[2] - Efficiency Ratio improved to 23.1%, down 380 Bps QoQ and 116 Bps YoY[2] Portfolio and Deposit Growth - Commercial portfolio reached $10.8 billion, up 1% QoQ and 18% YoY[2] - Total deposits reached $6.4 billion, up 10% QoQ and 23% YoY[2] - Deposits composition: Corporations 37%, Financial Institutions 21%, Central Banks or designees 12%, Class A shareholders 25%, Brokers 5%, Multilateral 15%[15] Asset Quality and Credit Risk - Non-Performing Loans (NPLs) stood at 0.15%, up 1 Bps QoQ and 6 Bps YoY[2] - Stage 1 exposure represents 97.9% of the total credit portfolio, amounting to $11.923 billion[8] - Total Allowance for Credit Losses to Impaired Credits is 20%[7,8] Margins and Fees - Net Interest Margin (NIM) remained steady at 2.36% QoQ, but decreased 7 Bps YoY[2] - Net fees reached $19.9 million, up 88% QoQ and 59% YoY[2] Capitalization and Dividends - Common Equity Tier 1 (CET1) ratio stood at 150%[19] - Dividend payout ratio is 36%[20] Portfolio Diversification - Loans represent 71% of the credit portfolio, Contingencies 17%, Investment Portfolio 11%[4] - Investment Grade represents 86% of the Investment Portfolio[4] Guidance - Commercial Portfolio Growth: 10% - 12%[42] - Average Deposit Growth: 15% - 17%[42] - NIM: ~2.30%[42] - Efficiency Ratio: ~27%[42] - ROE: 15% - 16%[42] - CET1: 15% - 16%[42]