BUENOS
AIRES, Argentina, Aug. 21,
2024 /PRNewswire/ -- Banco BBVA Argentina S.A
(NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) ("BBVA Argentina" or
"BBVA" or "the Bank") announced today its
consolidated results for the second quarter (2Q24), ended on
June 30, 2024.
As of January 1, 2020, the Bank
started to inform its inflation adjusted results pursuant to IAS 29
reporting. To facilitate comparison, figures of comparable quarters
of 2023 and 2024 have been updated according to IAS 29 reporting to
reflect the accumulated effect of inflation adjustment for each
period up to June 30, 2024.
2Q24 Highlights
- BBVA Argentina's inflation adjusted net income in 2Q24 was
$112.9 billion, 178.8% above the
$40.5 billion reported on the first
quarter of 2024 (1Q24), and 0.1% above than the $112.803 billion reported on the second quarter
of 2023 (2Q23). Inflation adjusted accumulated net income for the
first 6 months of 2024 was $153.4
billion, 15.7% lower than the accumulated net result of
$181.9 billion in the first 6 months
of 2023.
- In 2Q24, BBVA Argentina posted an inflation adjusted average
return on assets (ROAA) of 4.7% and an inflation adjusted average
return on equity (ROAE) of 19.5%. In the first half of 2024, BBVA
Argentina posted an inflation adjusted ROAA of 3.0% and an
inflation adjusted ROAE of 13.3%.
- Operating income in 2Q24 was $446.7
billion, 40.3% lower than the $748.4
billion recorded in 1Q24 and 4.1% lower than the
$465.7 billion recorded in 2Q23. In
the first six months of 2024, the accumulated operating income was
$1.20 trillion, 44.4% above the
$827.9 billion recorded in the same
period of 2023.
- In terms of activity, total consolidated financing to the
private sector in 2Q24 totaled $3.8
trillion, increasing 23.1% in real terms compared to 1Q24,
and contracting 3.5% compared to 2Q23. In the quarter, the
variation was driven by an overall growth in all lines, especially
in credit cards by 15.3%, in consumer loans by 45.3%
and in discounted instruments by 30.1%. BBVA's consolidated
market share of private sector loans reached 10.54% as of
2Q24.
- Total consolidated deposits in 2Q24 totaled $5.8 trillion, increasing 2.6% in real terms
during the quarter, and falling 22.2% YoY. Quarterly increase was
mainly explained by an increment in time deposits and savings
accounts, by 27.7% and 5.9% respectively. The Bank's consolidated
market share of private deposits reached 7.50% as of 2Q24.
- As of 2Q24, the non-performing loan ratio (NPL) reached 1.18%,
with a 165.50% coverage ratio.
- The accumulated efficiency ratio in 2Q24 was 59.9%, improving
compared to 1Q24's 65.4%, and above 2Q23's 56.6%.
- As of 2Q24, BBVA Argentina reached a regulatory capital ratio
of 25.3%, entailing a $1.25 trillion
or 210.30% excess over minimum regulatory requirement. Tier I ratio
was 25.3%.
- Total liquid assets represented 69.5% of the Bank's total
deposits as of 2Q24.
2Q24 Conference Call
Thursday, August 22, 2024, 12:00 p.m. Buenos
Aires time – (11:00 a.m.
ET)
To participate please dial-in:
+ 54-11-3984-5677
(Argentina)
+ 1-844-450-3851 (United
States)
+ 1-412-317-6373 (International)
Web Phone: click here
Conference code: BBVA
Webcast & Replay: click here
To access the full report English
version - Spanish version
To access
webcast presentation click here
About BBVA Argentina
BBVA Argentina (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) is a
subsidiary of the BBVA Group, the main shareholder since 1996. In
Argentina, it is one of the
leading private financial institutions since 1886. Nationwide, BBVA
Argentina offers retail and corporate banking to a broad customer
base, including: individuals, SME's, and large-sized
companies.
BBVA Argentina's purpose is to bring the age of opportunities
to everyone, based on our customers' real needs, providing the best
solutions, and helping them make the best financial decisions
through an easy and convenient experience. The institution relies
on solid values: "The customer comes first, We think big and We are
one team". At the same time, its responsible banking model aspires
to achieve a more inclusive and sustainable society.
Investor Relations Contact
Carmen Morillo
Arroyo
Chief Financial Officer
Inés Lanusse
Investor Relations Officer
Belén Fourcade
Investor Relations
investorelations-arg@bbva.com
ir.bbva.com.ar
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SOURCE Banco BBVA Argentina S.A.