Banco BBVA Argentina S.A. announces Second Quarter 2024 results
As of
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
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
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