Beat driven by other revenues and lower tax rate amid solid capital base In Q1 IFIS net profit of EUR c47m was 20% better than consensus. Revenues came in ahead with NII in line and better than expected income from proprietary portfolio vs our estimates. Below the top-line, LLPs were better and down QoQ, while cost base came in line (-2% vs last year). Capital was solid and CET-1 stood at c16.6% which is 40bps higher QoQ with improvement mainly linked to lower RWA. Confident tone with no asse ....