BUENOS
AIRES, Argentina, May 22, 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
first quarter (1Q24), ended on March
31, 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 March 31, 2024.
1Q24 Highlights
- BBVA Argentina's inflation adjusted net income in 1Q24 was
$34.2 billion, 53.7% lower than the
$73.7 billion reported on the fourth
quarter of 2023 (4Q23), and 41.4% lower than the $58.3 billion reported on the first quarter of
2023 (1Q23).
- In 1Q24, BBVA Argentina posted an inflation adjusted average
return on assets (ROAA) of 1.6% and an inflation adjusted average
return on equity (ROAE) of 6.6%.
- Operating income in 1Q24 was $631.2
billion, 12.9% lower than the $724.7
billion recorded in 4Q23 and 106.6% over the $305.5 billion recorded in 1Q23.
- In terms of activity, total consolidated financing to the
private sector in 1Q24 totaled $2.7
trillion, falling 12.7% in real terms compared to 4Q23, and
21.9% compared to 1Q23. In the quarter, the variation was mainly
driven by a decline in credit cards by 17.9%, in
discounted instruments by 27.1% and in other loans by
19.7%. This was offset by an increase in prefinancing and
financing of exports by 26.0%. BBVA's consolidated market share
of private sector loans reached 10.08% as of 1Q24.
- Total consolidated deposits in 1Q24 totaled $4.8 trillion, decreasing 13.5% in real terms
during the quarter, and 21.7% YoY. Quarterly decrease was mainly
explained by a fall by 25.3% and 8.1% in savings and checking
accounts respectively. The Bank's consolidated market share of
private deposits reached 7.37% as of 1Q24.
- As of 1Q24, the non-performing loan ratio (NPL) reached 1.23%,
with a 173.77% coverage ratio.
- The accumulated efficiency ratio in 1Q24 was 65.4%,
deteriorating compared to 4Q23's 58.6%, and to 1Q23's 62.4%.
- As of 1Q24, BBVA Argentina reached a regulatory capital ratio
of 35.6%, entailing a $1.4 trillion
or 336.0% excess over minimum regulatory requirement. Tier I ratio
was 35.6%.
- Total liquid assets represented 91.9% of the Bank's total
deposits as of 1Q24.
1Q24 Conference Call
Thursday, May 23 - 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 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.