BUENOS
AIRES, Argentina, March 5,
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 fourth quarter (4Q23), ended on
December 31, 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 December 31, 2023.
4Q23 & 2023 Highlights
- BBVA Argentina's inflation adjusted net income in 4Q23 was
$48.6 billion, 220.8% higher than the
$15.2 billion reported on the third
quarter of 2023 (3Q23), and 8.7% lower than the $53.2 billion reported on the fourth quarter of
2022 (4Q22). BBVA Argentina's inflation adjusted net income for the
twelve months of 2023 totaled $164.9
billion, 8.6% lower than the $180.4
billion reported in the twelve months of 2022.
- In 4Q23, BBVA Argentina posted an inflation adjusted average
return on assets (ROAA) of 3.2% and an inflation adjusted average
return on equity (ROAE) of 15.3%. In 2023, BBVA Argentina posted an
inflation adjusted ROAA of 2.7% and an inflation adjusted ROAE of
13.0%.
- Operating income in 4Q23 was $477.9
billion, 86.4% higher than the $256.5
billion recorded in 3Q23 and 148.8% over the $192.1 billion recorded in 4Q22. In 2023, the
accumulated operating income was $1.19
trillion, 86.4% above the $641.0
billion recorded in the same period of 2022.
- In terms of activity, total consolidated financing to the
private sector in 4Q23 totaled $2.0
trillion, falling 5.7% in real terms compared to 3Q23, and
contracting 12.3% compared to 4Q22. In the quarter, the variation
was mainly driven by a decline in credit cards by 7.6%, in
consumer loans by 21.5% and in other loans by 15.4%.
This was offset by an increase in prefinancing and financing of
exports by 54.7%. BBVA's consolidated market share of private
sector loans reached 9.85% as of 4Q23.
- Total consolidated deposits in 4Q23 totaled $3.6 trillion, decreasing 8.5% in real terms
during the quarter, and 11.0% YoY. Quarterly decrease was mainly
explained by a fall in time deposits and investment accounts, by
40.9% and 37.1% respectively. The Bank's consolidated market share
of private deposits reached 6.79% as of 4Q23.
- As of 4Q23, the non-performing loan ratio (NPL) reached 1.29%,
with a 165.30% coverage ratio.
- The accumulated efficiency ratio in 4Q23 was 58.6%, improving
compared to 3Q23's 63.8%, and to 4Q22's 63.9%.
- As of 4Q23, BBVA Argentina reached a regulatory capital ratio
of 32.8%, entailing a $944.4 billion
or 280.5% excess over minimum regulatory requirement. Tier I ratio
was 32.8%.
- Total liquid assets represented 91.2% of the Bank's total
deposits as of 4Q23.
4Q23 Conference Call
Wednesday, March 6 -
12:00 p.m. Buenos Aires time
(10:00 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
Código de la conferencia: 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.