Grupo Aval Acciones Y Valores S.A. (NYSE:AVAL) Q1 2020 Earnings Conference Call - Final Transcript
May 20, 2020 • 10:00 am ET
Welcome to Grupo Aval's First Quarter 2020 Consolidated Results Conference Call. My name is Hilda, and I will be your operator for today.
Grupo Aval Acciones y Valores S.A., Grupo Aval is an issuer of securities in Colombia and in the United States. As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. Grupo Aval is also subject to the inspection and supervision of the Superintendency of Finance as holding company of the Aval financial conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB.
Details of the calculations of non-GAAP measures, such as ROAA and ROAE, among others, are explained when required in this report. This report includes forward-looking statements. In some cases, you can identify these forward-looking statements by words such as may, will, should, expects, plans, anticipates, believes, estimates, predicts, potential or continue or the negative of these, and other comparable words.
Actual results and events may differ materially from those anticipated herein as a consequence of changes in general, economic, and business conditions, changes in interest, and currency rates, and other risks described from time to time in our filings with the Registro Nacional de Valores Y Emisores and the SEC. Recipients of this document are responsible for the assessment and use of the information provided herein.
Matters described in this presentation and our knowledge of them may change extensively and materially over time, but we expressly disclaim any obligation to review, update or correct the information provided in this report included any forward-looking statements and do not intend to provide any update for such material developments prior to our next earnings report. The content of this document and the figures included herein are intended to provide a summary of the subjects discussed rather than a comprehensive description. When applicable, in this document, we refer to billions as thousands of millions.
[Operator Instructions]. Later, we will conduct a question-and-answer session.
I will now turn the call over to Mr. Luis Carlos Sarmiento Gutierrez, Chief Executive Officer. Mr. Sarmiento Gutierrez, you may begin.
Luis Carlos Sarmiento Gutierrez
Thank you, Hilda, good morning and thank you all for joining our first quarter 2020 conference call. Allow me to start by expressing my sincere hope for the well-being of all of you and your friends and families.
The first quarter of this year can be divided into January and February were months filled with optimism that pointed towards a strong performing year of economic consolidation and growth. However, two events marked the month of March, the oil war between Russia and Saudi Arabia, and the globalization of the coronavirus pandemic. These events became evident to the world in the last few weeks of March and since most of the countries in the world and Colombia have not been the exception. I have been experiencing the pain of overwhelmed health systems, collapsed markets, and economies grinding to a halt. I must say that in contrast, it appears