Banco BBVA Argentina S.A. Announces Third Quarter 2024 Results

November 20, 2024 at 16:27 PM EST

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 third quarter (3Q24), ended on September 30, 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 September 30, 2024.

3Q24 Highlights

BBVA Argentina’s inflation adjusted net income in 3Q24 was $99.2 billion, 21.6% below the $126.6 billion reported on the second quarter of 2024 (2Q24), and 224.8% above than the $30.5 billion reported on the third quarter of 2023 (3Q23). Inflation adjusted accumulated net income for the first nine months of 2024 was $271.2 billion, 15.7% higher than the accumulated net result of $234.5 billion in the first nine months of 2023.
In 3Q24, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 3,4% and an inflation adjusted average return on equity (ROAE) of 16,9%. In the nine months of 2024, BBVA Argentina posted an inflation adjusted ROAA of 2.9% and an inflation adjusted ROAE of 13.9%.
Operating income in 3Q24 was $294.0 billion, 41.3% lower than the $500.9 billion recorded in 2Q24 and 43.1% lower than the $517.0 billion recorded in 3Q23. In the first nine months of 2024, the accumulated operating income was $1.63 trillion, 13.1% above the $1.45 trillion recorded in the same period of 2023.
In terms of activity, total consolidated financing to the private sector in 3Q24 totaled $5.5 trillion, increasing 26.5% in real terms compared to 2Q24, and 16.4% compared to 3Q23. In the quarter, the variation was driven by an overall growth in all lines, especially in discounted instruments by 50.9%, in consumer loans by 51.0% and in credit cards by 12.9%. BBVA’s consolidated market share of private sector loans reached 10.35% as of 3Q24.
Total consolidated deposits in 3Q24 totaled $8.5 trillion, increasing 30.9% in real terms during the quarter, and falling 6.4% YoY. Quarterly increase was mainly explained by an increment in time deposits and savings accounts, by 35.5% and 48.8% respectively. The Bank’s consolidated market share of private deposits reached 8.67% as of 3Q24.
As of 3Q24, the non-performing loan ratio (NPL) reached 1.18%, with a 152.98% coverage ratio.
The accumulated efficiency ratio in 3Q24 was 59.7%, improving compared to 2Q24’s 59.9%, and 3Q23’s 63.8%.
As of 3Q24, BBVA Argentina reached a regulatory capital ratio of 22.2%, entailing a $1.32 trillion or 172.4% excess over minimum regulatory requirement. Tier I ratio was 22.2%.
Total liquid assets represented 67.3% of the Bank’s total deposits as of 3Q24.

3Q24 Conference Call

Thursday, November 21, 2024

Time: 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

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.