Banco BBVA Argentina S.A. announces First Quarter 2022 results

Rhea-AI Summary

Banco BBVA Argentina S.A. reported its 1Q22 results showing an inflation-adjusted net income of $4.0 billion, a decline of 27.1% from 4Q21 and 12.3% from 1Q21. The average return on assets (ROAA) was 1.4%, and return on equity (ROAE) at 9.0%.

Total private sector financing decreased 8.4% in real terms to $413.2 billion, while deposits dropped 3.0% to $797.3 billion. The non-performing loan ratio was 1.29%, with coverage of 219.75%.

Positive

• Regulatory capital ratio at 23.5%, with a $110.1 billion excess over minimum requirement.
• Total liquid assets represented 79.6% of total deposits.

Negative

• Net income decreased by 27.1% from 4Q21 and 12.3% from 1Q21.
• Total financing to the private sector fell by 8.4% in real terms.
• Total deposits decreased by 3.0% in real terms.

BUENOS AIRES, Argentina, May 19, 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 first quarter (1Q22), ended on March 31, 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 March 31, 2022.

1Q22 Highlights

• BBVA Argentina's inflation adjusted net income in 1Q22 was $4.0 billion, 27.1% lower than the $5.5 billion reported on the fourth quarter of 2021 (4Q21), and 12.3% lower than the $4.6 billion reported on the first quarter of 2021 (1Q21).
  
  
• In 1Q22, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.4% and an inflation adjusted average return on equity (ROAE) of 9.0%.
  
  
• In terms of activity, total consolidated financing to the private sector in 1Q22 totaled $413.2 billion, decreasing 8.4% in real terms compared to 4Q21, and 10.3% compared to 1Q21. In the quarter, the decrease was mainly driven by a fall in credit cards and discounted instruments by 9.3%, and 17.8% respectively. BBVA's consolidated market share of private sector loans reached 7.89% as of 1Q22.
  
  
• Total consolidated deposits in 1Q22 totaled $797.3 billion, decreasing 3.0% in real terms during the quarter, and increasing 1.2% in the year. Quarterly decrease was mainly explained by sight deposits, which fell 9.6%. The Bank's consolidated market share of private deposits reached 7.12% as of 1Q22.
  
  
• As of 1Q22, the non-performing loan ratio (NPL) reached 1.29%, with a 219.75% coverage ratio.
  
  
• The accumulated efficiency ratio in 1Q22 was 72.2%, above 4Q21's 69.1%, and slightly below 1Q21's 72.5%.
  
  
• As of 1Q22, BBVA Argentina reached a regulatory capital ratio of 23.5%, entailing a $110.1 billion or 188.2% excess over minimum regulatory requirement. Tier I ratio was 23.3%.
  
  
• Total liquid assets represented 79.6% of the Bank's total deposits as of 1Q22.

1Q22 Conference Call

Friday, May 20 - 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 please click here 
To access webcast presentation please 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

Ernesto Gallardo
Chief Financial Officer

Inés Lanusse
Investor Relations Officer

Belén Fourcade
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-2022-results-301551700.html

SOURCE Banco BBVA Argentina S.A.

FAQ

What was BBAR's net income for 1Q22?

BBAR's inflation-adjusted net income for 1Q22 was $4.0 billion.

How did BBAR's total financing change in 1Q22?

Total consolidated financing to the private sector decreased by 8.4% in 1Q22.

What is BBAR's regulatory capital ratio as of 1Q22?

BBAR's regulatory capital ratio was 23.5%, exceeding the minimum requirement by $110.1 billion.

What was the non-performing loan ratio for BBAR in 1Q22?

BBAR's non-performing loan ratio reached 1.29% in 1Q22.

How did BBAR's total deposits perform in 1Q22?

Total deposits for BBAR in 1Q22 totaled $797.3 billion, a decrease of 3.0% in real terms.