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

Rhea-AI Summary

Banco BBVA Argentina reported significant growth in its 2Q22 consolidated results. The bank's inflation-adjusted net income reached $15.9 billion, 235.8% higher than $4.7 billion in 1Q22 and 34.2% above $11.8 billion in 2Q21. The accumulated net income for the first half of 2022 was $20.6 billion, a 19.6% increase year-over-year. Operating income rose to $32.0 billion, while total deposits totaled $974.1 billion, up 4.2% in real terms. The non-performing loan ratio stood at 1.08%, with a coverage ratio of 219.39%.

Positive

• Net income increased by 235.8% quarter-over-quarter to $15.9 billion.
• Operating income rose to $32.0 billion, a 10.2% increase from 1Q22.
• Total consolidated deposits increased to $974.1 billion, up 4.2% in real terms in 2Q22.
• Non-performing loan ratio improved to 1.08% with a coverage ratio of 219.39%.
• Regulatory capital ratio of 22.9%, indicating a $124.7 billion excess over minimum requirements.

Negative

• Total consolidated financing to the private sector decreased 1.0% compared to 2Q21.

BUENOS AIRES,  Argentina, Aug. 23, 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 second quarter (2Q22), ended on June 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 June 30, 2022.

2Q22 Highlights

• BBVA Argentina's inflation adjusted net income in 2Q22 was $15.9 billion, 235.8% higher than the $4.7 billion reported on the first quarter of 2022 (1Q22), and 34.2% higher than the $11.8 billion reported on the second quarter of 2021 (2Q21). In the first six months of 2022, the accumulated net income was $20.6 billion, 19.6% above the $17.2 billion recorded in the first six months of 2021.
  
  
• In 2Q22, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 4.6% and an inflation adjusted average return on equity (ROAE) of 28.3%. The six month accumulated ROAA reached 3.0% while the six month accumulated ROAE was 18.9%.
  
  
• Operating income in 2Q22 was $32.0 billion, 10.2% above the $29.0 billion recorded in 1Q22 and 51.9% over the $21.1 billion recorded in 2Q21.
  
  
• In terms of activity, total consolidated financing to the private sector in 2Q22 totaled $519.3 billion, increasing 7.1% in real terms compared to 1Q22, and falling 1.0% compared to 2Q21. In the quarter, the increase was mainly driven by growth in credit cards, other loans, prefinancing and financing of exports and in overdrafts by 5.3%, 10.7%, 41.5% and 21.2% respectively. BBVA's consolidated market share of private sector loans reached 8.35% as of 2Q22.
  
  
• Total consolidated deposits in 2Q22 totaled $974.1 billion, increasing 4.2% in real terms during the quarter, and falling 2.5% in the year. Quarterly increase was mainly explained by sight deposits, which grew 4.4%. The Bank's consolidated market share of private deposits reached 7.15% as of 2Q22.
  
  
• As of 2Q22, the non-performing loan ratio (NPL) reached 1.08%, with a 219.39% coverage ratio.
  
  
• The accumulated efficiency ratio in 2Q22 was 71.3%, below 1Q22's 72.2%, and 2Q21's 70.1%.
  
  
• As of 2Q22, BBVA Argentina reached a regulatory capital ratio of 22.9%, entailing a $124.7 billion or 180.1% excess over minimum regulatory requirement. Tier I ratio was 22.7%.
  
  
• Total liquid assets represented 76.9% of the Bank's total deposits as of 2Q22.

2Q22 Conference Call 
Tuesday, August 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 
Código de la conferencia: 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

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SOURCE Banco BBVA Argentina S.A.

FAQ

What were Banco BBVA Argentina's net income results for 2Q22?

Banco BBVA Argentina reported a net income of $15.9 billion for 2Q22, a 235.8% increase over 1Q22.

How did BBVA Argentina's operating income perform in 2Q22?

The operating income in 2Q22 was $32.0 billion, a 10.2% increase from the previous quarter.

What is the non-performing loan ratio for Banco BBVA Argentina as of 2Q22?

As of 2Q22, the non-performing loan ratio stood at 1.08%.

How much did total consolidated deposits increase in 2Q22?

Total consolidated deposits rose to $974.1 billion, reflecting a 4.2% increase in real terms during the quarter.

What is the regulatory capital ratio of BBVA Argentina for 2Q22?

BBVA Argentina's regulatory capital ratio reached 22.9% as of 2Q22.