Banco BBVA Argentina S.A. Announces Third Quarter 2024 Results
BBVA Argentina reported Q3 2024 net income of $99.2 billion, showing a 21.6% decrease from Q2 2024 but a 224.8% increase from Q3 2023. The bank's operating income was $294.0 billion, down 41.3% quarterly. Total consolidated financing to the private sector reached $5.5 trillion, up 26.5% from previous quarter, with market share at 10.35%. Total deposits grew 30.9% to $8.5 trillion, with market share at 8.67%. The bank maintained strong financial metrics with a non-performing loan ratio of 1.18%, coverage ratio of 152.98%, and regulatory capital ratio of 22.2%.
BBVA Argentina ha riportato un reddito netto per il terzo trimestre 2024 di 99,2 miliardi di dollari, con una diminuzione del 21,6% rispetto al secondo trimestre 2024, ma un aumento del 224,8% rispetto al terzo trimestre 2023. Il reddito operativo della banca è stato di 294,0 miliardi di dollari, in calo del 41,3% rispetto al trimestre precedente. Il finanziamento totale consolidato al settore privato ha raggiunto 5,5 trilioni di dollari, con un incremento del 26,5% rispetto al trimestre precedente, e una quota di mercato del 10,35%. Le deposita totali sono cresciute del 30,9% arrivando a 8,5 trilioni di dollari, con una quota di mercato dell'8,67%. La banca ha mantenuto solide metriche finanziarie con un rapporto di prestiti non performanti dell'1,18%, un rapporto di copertura del 152,98% e un rapporto di capitale regolamentare del 22,2%.
BBVA Argentina reportó un ingreso neto para el tercer trimestre de 2024 de 99,2 mil millones de dólares, mostrando una disminución del 21,6% con respecto al segundo trimestre de 2024, pero un aumento del 224,8% en comparación con el tercer trimestre de 2023. Los ingresos operativos del banco fueron de 294,0 mil millones de dólares, un 41,3% menos que el trimestre anterior. El financiamiento total consolidado al sector privado alcanzó 5,5 billones de dólares, lo que representa un incremento del 26,5% en comparación con el trimestre anterior, con una cuota de mercado del 10,35%. Los depósitos totales crecieron un 30,9% llegando a 8,5 billones de dólares, con una cuota de mercado del 8,67%. El banco mantuvo sólidos métricas financieras con un ratio de préstamos no productivos del 1,18%, un ratio de cobertura del 152,98% y un ratio de capital regulatorio del 22,2%.
BBVA 아르헨티나는 2024년 3분기 순이익이 992억 달러에 달했다고 보고했으며, 이는 2024년 2분기 대비 21.6% 감소했지만 2023년 3분기 대비 224.8% 증가한 수치입니다. 은행의 운영 수익은 2940억 달러로, 전분기 대비 41.3% 감소했습니다. 민간 부문에 대한 총 통합 자금 조달은 5.5조 달러에 달하며, 이는 전분기 대비 26.5% 증가하였고, 시장 점유율은 10.35%입니다. 총 예금은 30.9% 증가하여 8.5조 달러에 달하며, 시장 점유율은 8.67%입니다. 은행은 비수익 대출 비율 1.18%, 커버리지 비율 152.98%, 규제 자본 비율 22.2%로 강력한 재무 지표를 유지했습니다.
BBVA Argentine a rapporté un revenu net de 99,2 milliards de dollars pour le troisième trimestre 2024, ce qui représente une diminution de 21,6% par rapport au deuxième trimestre 2024 mais une augmentation de 224,8% par rapport au troisième trimestre 2023. Le revenu opérationnel de la banque était de 294,0 milliards de dollars, en baisse de 41,3% par rapport au trimestre précédent. Le financement total consolidé au secteur privé a atteint 5,5 trillions de dollars, en hausse de 26,5% par rapport au trimestre précédent, avec une part de marché de 10,35%. Les dépôts totaux ont augmenté de 30,9% pour atteindre 8,5 trillions de dollars, avec une part de marché de 8,67%. La banque a maintenu de solides indicateurs financiers avec un ratio de prêts non performants de 1,18%, un ratio de couverture de 152,98% et un ratio de capital réglementaire de 22,2%.
BBVA Argentinien berichtete für das dritte Quartal 2024 einen Nettogewinn von 99,2 Milliarden US-Dollar, was einem Rückgang von 21,6% im Vergleich zum zweiten Quartal 2024 entspricht, jedoch einem Anstieg von 224,8% im Vergleich zum dritten Quartal 2023. Das operative Ergebnis der Bank betrug 294,0 Milliarden US-Dollar, was einem Rückgang von 41,3% im Quartalsvergleich entspricht. Die gesamte konsolidierte Finanzierung des privaten Sektors erreichte 5,5 Billionen US-Dollar, ein Anstieg von 26,5% im Vergleich zum vorherigen Quartal, wobei der Marktanteil bei 10,35% lag. Die Gesamteinlagen wuchsen um 30,9% auf 8,5 Billionen US-Dollar, bei einem Marktanteil von 8,67%. Die Bank behielt starke Finanzkennzahlen mit einer notleidenden Kredithäufigkeit von 1,18%, einer Deckungsquote von 152,98% und einer regulatorischen Kapitalquote von 22,2%.
- Net income increased 224.8% year-over-year to $99.2 billion
- Private sector financing grew 26.5% to $5.5 trillion quarter-over-quarter
- Strong regulatory capital ratio of 22.2%, with $1.32 trillion excess over requirements
- Low non-performing loan ratio of 1.18% with 152.98% coverage ratio
- Improved efficiency ratio to 59.7% from 63.8% year-over-year
- Net income decreased 21.6% quarter-over-quarter
- Operating income declined 41.3% quarter-over-quarter to $294.0 billion
- Total deposits fell 6.4% year-over-year
Insights
BBVA Argentina delivered a mixed performance in Q3 2024. While the
Key positives include substantial growth in private sector financing, up
However, the
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 2023 and 2024 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to September 30, 2024.
3Q24 Highlights
-
BBVA Argentina’s inflation adjusted net income in 3Q24 was
$99.2 billion 21.6% below the$126.6 billion 224.8% above than the$30.5 billion $271.2 billion 15.7% higher than the accumulated net result of$234.5 billion -
In 3Q24, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 3,
4% and an inflation adjusted average return on equity (ROAE) of 16,9% . In the nine months of 2024, BBVA Argentina posted an inflation adjusted ROAA of2.9% and an inflation adjusted ROAE of13.9% . -
Operating income in 3Q24 was
$294.0 billion 41.3% lower than the$500.9 billion 43.1% lower than the$517.0 billion $1.63 trillion 13.1% above the$1.45 trillion -
In terms of activity, total consolidated financing to the private sector in 3Q24 totaled
$5.5 trillion 26.5% in real terms compared to 2Q24, and16.4% compared to 3Q23. In the quarter, the variation was driven by an overall growth in all lines, especially in discounted instruments by50.9% , in consumer loans by51.0% and in credit cards by12.9% . BBVA’s consolidated market share of private sector loans reached10.35% as of 3Q24. -
Total consolidated deposits in 3Q24 totaled
$8.5 trillion 30.9% in real terms during the quarter, and falling6.4% YoY. Quarterly increase was mainly explained by an increment in time deposits and savings accounts, by35.5% and48.8% respectively. The Bank’s consolidated market share of private deposits reached8.67% as of 3Q24. -
As of 3Q24, the non-performing loan ratio (NPL) reached
1.18% , with a152.98% coverage ratio. -
The accumulated efficiency ratio in 3Q24 was
59.7% , improving compared to 2Q24’s59.9% , and 3Q23’s63.8% . -
As of 3Q24, BBVA Argentina reached a regulatory capital ratio of
22.2% , entailing a$1.32 trillion 172.4% excess over minimum regulatory requirement. Tier I ratio was22.2% . -
Total liquid assets represented
67.3% of the Bank’s total deposits as of 3Q24.
3Q24 Conference Call
Thursday, November 21, 2024
Time: 12:00 p.m.
To participate please dial-in:
+ 54-11-3984-5677 (
+ 1-844-450-3851 (
+ 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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241120085046/en/
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
Source: BBVA Argentina
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