BUENOS
AIRES, Nov. 22, 2022 /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 third quarter
(3Q22), ended on September 30,
2022.
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 2021 and 2022 have been updated according to IAS 29
reporting to reflect the accumulated effect of inflation adjustment
for each period up to September 30,
2022.
3Q22 Highlights
- BBVA Argentina's inflation adjusted net income in 3Q22
was $9.7 billion, 50.1% lower than
the $19.4 billion reported on the
second quarter of 2022 (2Q22), and 55.9% higher than the
$6.2 billion reported on the third
quarter of 2021 (3Q21). In the first nine months of 2022, the
accumulated net income was $34.8
billion, 27.9% above the $27.2
billion recorded in the first nine months of
2021.
- In 3Q22, BBVA Argentina posted an inflation adjusted
average return on assets (ROAA) of 2.4% and an inflation adjusted
average return on equity (ROAE) of 13.5%. The nine month
accumulated ROAA reached 2.9% while the nine month accumulated ROAE
was 16.8%.
- Operating income in 3Q22 was $48.4
billion, 24.0% above the $39.0
billion recorded in 2Q22 and 99.3% over the $24.3 billion recorded in 3Q21.
- In terms of activity, total consolidated financing to the
private sector in 3Q22 totaled $582.4
billion, falling 8.0% in real terms compared to 2Q22, and
6.4% compared to 3Q21. In the quarter, the decrease was mainly
driven by a fall in credit cards, other loans,
prefinancing and financing of exports and in consumer
loans by 8.8%, 18.2%, 22.4% and 5.7% respectively. BBVA's
consolidated market share of private sector loans reached 8.47% as
of 3Q22.
- Total consolidated deposits in 3Q22 totaled $1.2 trillion, decreasing 10.5% in real terms
during the quarter, and 7.9% compared to 3Q21. Quarterly decrease
was mainly explained by sight deposits, which fell 17.9%. The
Bank's consolidated market share of private deposits reached 6.68%
as of 3Q22.
- As of 3Q22, the non-performing loan ratio (NPL) reached
1.07%, with a 236.87% coverage ratio.
- The accumulated efficiency ratio in 3Q22 was 69.0%,
improving versus 2Q22's 71.3%, and versus 3Q21's 69.7%.
- As of 3Q22, BBVA Argentina reached a regulatory capital
ratio of 26.2%, entailing a $180.9
billion or 221.3% excess over minimum regulatory
requirement. Tier I ratio was 26.0%.
- Total liquid assets represented 78.5% of the Bank's total
deposits as of 3Q22.
3Q22 Conference Call
Wednesday, November
23 - 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 click
here
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.