Banco BBVA Argentina S.A. announces First Quarter 2024 results
As of
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
To participate please dial-in:
+ 54-11-3984-5677 (
+ 1-844-450-3851 (
+ 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
Investor Relations Contact
Chief Financial Officer
Inés Lanusse
Investor Relations Officer
Investor Relations
investorelations-arg@bbva.com
ir.bbva.com.ar
View original content:https://www.prnewswire.com/news-releases/banco-bbva-argentina-sa-announces-first-quarter-2024-results-302153421.html
SOURCE