Banco BBVA Argentina S.A. Announces Third Quarter 2024 Results
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
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BBVA Argentina’s inflation adjusted net income in 3Q24 was
,$99.2 billion 21.6% below the reported on the second quarter of 2024 (2Q24), and$126.6 billion 224.8% above than the reported on the third quarter of 2023 (3Q23). Inflation adjusted accumulated net income for the first nine months of 2024 was$30.5 billion ,$271.2 billion 15.7% higher than the accumulated net result of in the first nine months of 2023.$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 recorded in 2Q24 and$500.9 billion 43.1% lower than the recorded in 3Q23. In the first nine months of 2024, the accumulated operating income was$517.0 billion ,$1.63 trillion 13.1% above the recorded in the same period of 2023.$1.45 trillion -
In terms of activity, total consolidated financing to the private sector in 3Q24 totaled
, increasing$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
, increasing$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 or$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