Banco BBVA Argentina S.A. announces Fourth Quarter and Fiscal Year 2021 results

Rhea-AI Summary

Banco BBVA Argentina S.A. reported its 4Q21 results, showing a significant 27.8% increase in inflation-adjusted net income to $4.8 billion, compared to $3.7 billion in 3Q21, and an impressive 1,008.8% year-over-year rise. For the full year 2021, net income reached $21.2 billion, up 27.1%. The return on assets (ROAA) was 1.8% for the quarter, while the return on equity (ROAE) stood at 11.8%. Total consolidated loans reached $388.4 billion, marking a 3.7% increase from 3Q21 but a decline versus 4Q20.

Positive

• Inflation adjusted net income in 4Q21 was $4.8 billion, up 27.8% from 3Q21 and 1,008.8% from 4Q20.
• 2021 total net income reached $21.2 billion, a 27.1% increase from 2020.
• ROAA of 1.8% and ROAE of 11.8% in 4Q21 indicate strong profitability.
• Total consolidated deposits grew 1.9% in real terms in 4Q21.

Negative

• Total consolidated financing to the private sector contracting 11.4% year-over-year.
• Non-performing loan (NPL) ratio increased to 1.87%.

BUENOS AIRES, Argentina, March 3, 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 fourth quarter (4Q21), ended on December 31, 2021.

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 2020 and 2021 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to December 31, 2021.

4Q21 and 2021 Highlights

• BBVA Argentina's inflation adjusted net income in 4Q21 was $4.8 billion, 27.8% greater than the $3.7 billion reported on the third quarter of 2021 (3Q21), and 1,008.8% greater than the $430 million reported on the fourth quarter of 2020 (4Q20). BBVA Argentina's inflation adjusted net income in 2021 totaled $21.2 billion, 27.1% higher than the $16.6 billion reported in 2020.
  
  
• In 4Q21, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.8% and an inflation adjusted average return on equity (ROAE) of 11.8%. In 2021, BBVA Argentina posted an inflation adjusted ROAA of 2.0% and an inflation adjusted ROAE of 13.5%.
  
  
• In terms of activity, total consolidated financing to the private sector in 4Q21 totaled $388.4 billion, increasing 3.7% in real terms compared to 3Q21, and contracting 11.4% compared to 4Q20. In the quarter, the increase was mainly driven by growth in other loans and discounted instruments by 17.2%%, and 11.4% respectively. BBVA's consolidated market share of private sector loans reached 8.05% as of 4Q21.
  
  
• Total consolidated deposits in 4Q21 totaled $708.3 billion, increasing 1.9% in real terms during the quarter, and falling 1.9% in the year. Quarterly increase was mainly explained by sight deposits, which grew 5.6%. The Bank's consolidated market share of private deposits reached 6.95% as of 4Q21.
  
  
• As of 4Q21, the non-performing loan ratio (NPL) reached 1.87%, with a 181.89% coverage ratio.
  
  
• The accumulated efficiency ratio in 4Q21 was 69.1%, below 3Q21's 69.7%, and above 4Q20's 56.8%.
  
  
• As of 4Q21, BBVA Argentina reached a regulatory capital ratio of 20.8%, entailing an $88.5 billion or 154.5% excess over minimum regulatory requirement. Tier I ratio was 20.3%.
  
  
• Total liquid assets represented 76.4% of the Bank's total deposits as of 4Q21.

4Q21 Conference Call

Friday, March 4 - 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 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

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SOURCE Banco BBVA Argentina S.A.

FAQ

What were BBVA Argentina's net income results for 4Q21?

BBVA Argentina's inflation-adjusted net income for 4Q21 was $4.8 billion, a 27.8% increase from 3Q21.

How did BBVA Argentina perform financially in 2021?

In 2021, BBVA Argentina reported a total net income of $21.2 billion, up 27.1% from the previous year.

What was the return on equity for BBVA Argentina in 4Q21?

The return on equity (ROAE) for BBVA Argentina in 4Q21 was 11.8%.

What is the non-performing loan ratio for BBVA Argentina?

As of 4Q21, BBVA Argentina's non-performing loan ratio reached 1.87%.