Banco BBVA Argentina S.A. announces Fourth Quarter and 2022 Fiscal Year results

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Mar 06, 2023, 16:36 ET

BUENOS AIRES, Argentina, March 6, 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 fourth quarter (4Q22), ended on December 31, 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 December 31, 2022.

4Q22 & 2022 Highlights

BBVA Argentina's inflation adjusted net income in 4Q22 was $17.1 billion, 50.9% greater than the $11.3 billion reported on the third quarter of 2022 (3Q22), and 84.1% greater than the $9.3 billion reported on the fourth quarter of 2021 (4Q21). BBVA Argentina's inflation adjusted net income in 2022 totaled $57.9 billion, 40.5% higher than the $41.2 billion reported in 2021.
In 4Q22, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 3.6% and an inflation adjusted average return on equity (ROAE) of 19.4%. In 2022, BBVA Argentina posted an inflation adjusted ROAA of 3.0% and an inflation adjusted ROAE of 17.5%.
Operating income in 4Q22 was $61.7 billion, 8.6% above the $56.8 billion recorded in 3Q22 and 81.2% over the $34.1 billion recorded in 4Q21. In 2022, operating income was $205.8 billion, 73.0% above the $119.0 billion recorded in 2021.
In terms of activity, total consolidated financing to the private sector in 4Q22 totaled $733.5 billion, increasing 7.4% in real terms compared to 3Q22, and contracting 3.1% compared to 4Q21. In the quarter, the increase was mainly driven by growth in discounted instruments, other loans, overdrafts and in credit cards by 34.6%, 8.0%, 12.1% and 2.9% respectively. BBVA's consolidated market share of private sector loans reached 9.10% as of 4Q22.
Total consolidated deposits in 4Q22 totaled $1.3 trillion, increasing 5.3% in real terms during the quarter, and falling 4.8% in the year. Quarterly increase was mainly explained by sight deposits, which grew 9.3%. The Bank's consolidated market share of private deposits reached 6.64% as of 4Q22.
As of 4Q22, the non-performing loan ratio (NPL) reached 1.13%, with a 242.23% coverage ratio.
The accumulated efficiency ratio in 4Q22 was 63.9%, below 3Q22's 69.0%, and 4Q21's 69.1%.
As of 4Q22, BBVA Argentina reached a regulatory capital ratio of 26.1%, entailing a $219.5 billion or 219.1% excess over minimum regulatory requirement. Tier I ratio was 25.6%.
Total liquid assets represented 77.3% of the Bank's total deposits as of 4Q22.

4Q22 Conference Call
Tuesday, March 7, 2023 - 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 click here
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.