BUENOS
AIRES, Aug. 23, 2023 /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 (2Q23), ended
on June 30, 2023.
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 2022 and 2023 have been updated according to IAS 29 reporting to
reflect the accumulated effect of inflation adjustment for each
period up to June 30, 2023.
2Q23 Highlights
- BBVA Argentina's inflation adjusted net income in 2Q23 was
$30.4 billion, 63.3% greater than the
$18.6 billion reported on the first
quarter of 2023 (1Q23), and 11.4% lower than the $34.3 billion reported on the second quarter of
2022 (2Q22). BBVA Argentina's inflation adjusted net income for the
first half of 2023 (2H23) totaled $49.0
billion, 10.1% higher than the $44.5
billion reported in the first half of 2022 (2H22).
- In 2Q23, BBVA Argentina posted an inflation adjusted average
return on assets (ROAA) of 3.9% and an inflation adjusted average
return on equity (ROAE) of 21.3%. In 2H23, BBVA Argentina posted an
inflation adjusted ROAA of 3.2% and an inflation adjusted ROAE of
17.7%.
- Operating income in 2Q23 was $125.3
billion, 28.6% above the $97.5
billion recorded in 1Q23 and 81.7% over the $69.0 billion recorded in 2Q22. In 2H23,
operating income was $222.8 billion,
69.3% above the $131.6 billion
recorded in 2H22.
- In terms of activity, total consolidated financing to the
private sector in 2Q23 totaled $1.1
trillion, remaining practically stable with a mild fall of
0.3% in real terms compared to 1Q23, and contracting 3.5% compared
to 2Q22. In the quarter, the variation was mainly driven by a
decline in overdrafts by 37.5%, offset by an increase
in discounted instruments and other loans by 18.3%
and 9.0% respectively. BBVA's consolidated market share of private
sector loans reached 9.01% as of 2Q23.
- Total consolidated deposits in 2Q23 totaled $2.0 trillion, increasing 3.3% in real terms
during the quarter, and falling 4.3% in the year. Quarterly
increase was mainly explained by sight deposits, which grew 8.3%.
The Bank's consolidated market share of private deposits reached
7.03% as of 2Q23.
- As of 2Q23, the non-performing loan ratio (NPL) reached 1.38%,
with a 218.44% coverage ratio.
- The accumulated efficiency ratio in 2Q23 was 56.6%, below
1Q23's 62.4%, and 2Q22's 71.3%.
- As of 2Q23, BBVA Argentina reached a regulatory capital ratio
of 28.4%, entailing a $369.5 billion
or 247.4% excess over minimum regulatory requirement. Tier I ratio
was 28.0%.
- Total liquid assets represented 84.1% of the Bank's total
deposits as of 2Q23.
2Q23 Conference Call
Thursday, August 24 - 12:00 p.m. Buenos
Aires time (11:00 a.m.
EST)
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 ID: 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.