BUENOS
AIRES, Argentina, May 23, 2023
/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 (1Q23), ended on March
31, 2023.
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 2022 and 2023 have been updated according to IAS 29 reporting to
reflect the accumulated effect of inflation adjustment for each
period up to March 31, 2023.
1Q23 Highlights
- BBVA Argentina's inflation adjusted net income in 1Q23 was
$15.0 billion, 27.8% lower than the
$20.8 billion reported on the fourth
quarter of 2022 (4Q22), and 82.2% greater than the $8.2 billion reported on the first quarter of
2022 (1Q22).
- In 1Q23, BBVA Argentina posted an inflation adjusted average
return on assets (ROAA) of 2.6% and an inflation adjusted average
return on equity (ROAE) of 13.7%.
- Operating income in 1Q23 was $78.8
billion, 4.9% above the $75.1
billion recorded in 4Q22 and 55.7% over the $50.6 billion recorded in 1Q22.
- In terms of activity, total consolidated financing to the
private sector in 1Q23 totaled $875.3
billion, decreasing 2.0% in real terms compared to 4Q22, and
increasing 3.7% compared to 1Q22. In the quarter, the decline was
mainly driven by a fall in other loans and in credit
cards by 27.3% and 4.0% respectively. BBVA's consolidated
market share of private sector loans reached 9.33% as of 1Q23.
- Total consolidated deposits in 1Q23 totaled $1.6 trillion, falling 1.7% in real terms during
the quarter, and 3.5% in the year. Quarterly increase was mainly
explained by sight deposits, which contracted 4.9%. The Bank's
consolidated market share of private deposits reached 6.83% as of
1Q23.
- As of 1Q23, the non-performing loan ratio (NPL) reached 1.31%,
with a 220.30% coverage ratio.
- The accumulated efficiency ratio in 1Q23 was 62.4%, improving
versus 4Q22's 64.0%, and 1Q22's 72.2%.
- As of 1Q23, BBVA Argentina reached a regulatory capital ratio
of 27.9%, entailing a $292.7 billion
or 241.5% excess over minimum regulatory requirement. Tier I ratio
was 27.5%.
- Total liquid assets represented 78.7% of the Bank's total
deposits as of 1Q23.
1Q23 Conference Call
Wednesday, May 24 - 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 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.
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.