Banco BBVA Argentina S.A. announces First Quarter 2023 results

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May 23, 2023, 16:40 ET

BUENOS AIRES, Argentina, May 23, 2023 /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 (1Q23), ended on March 31, 2023.

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 2022 and 2023 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to March 31, 2023.

1Q23 Highlights

BBVA Argentina's inflation adjusted net income in 1Q23 was $15.0 billion, 27.8% lower than the $20.8 billion reported on the fourth quarter of 2022 (4Q22), and 82.2% greater than the $8.2 billion reported on the first quarter of 2022 (1Q22).
In 1Q23, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 2.6% and an inflation adjusted average return on equity (ROAE) of 13.7%.
Operating income in 1Q23 was $78.8 billion, 4.9% above the $75.1 billion recorded in 4Q22 and 55.7% over the $50.6 billion recorded in 1Q22.
In terms of activity, total consolidated financing to the private sector in 1Q23 totaled $875.3 billion, decreasing 2.0% in real terms compared to 4Q22, and increasing 3.7% compared to 1Q22. In the quarter, the decline was mainly driven by a fall in other loans and in credit cards by 27.3% and 4.0% respectively. BBVA's consolidated market share of private sector loans reached 9.33% as of 1Q23.
Total consolidated deposits in 1Q23 totaled $1.6 trillion, falling 1.7% in real terms during the quarter, and 3.5% in the year. Quarterly increase was mainly explained by sight deposits, which contracted 4.9%. The Bank's consolidated market share of private deposits reached 6.83% as of 1Q23.
As of 1Q23, the non-performing loan ratio (NPL) reached 1.31%, with a 220.30% coverage ratio.
The accumulated efficiency ratio in 1Q23 was 62.4%, improving versus 4Q22's 64.0%, and 1Q22's 72.2%.
As of 1Q23, BBVA Argentina reached a regulatory capital ratio of 27.9%, entailing a $292.7 billion or 241.5% excess over minimum regulatory requirement. Tier I ratio was 27.5%.
Total liquid assets represented 78.7% of the Bank's total deposits as of 1Q23.

1Q23 Conference Call
Wednesday, May 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 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 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

Carmen Morillo Arroyo
Chief Financial Officer
Inés Lanusse
Investor Relations Officer
Belén Fourcade
Investor Relations

[email protected]
ir.bbva.com.ar

SOURCE Banco BBVA Argentina S.A.