BUENOS AIRES, Argentina, Aug. 25, 2020 /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 (2Q20), ended on June 30, 2020.
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 2019 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to June 30, 2020.
- BBVA Argentina's inflation adjusted net income in 2Q20 was $2.6 billion, 21.9% lower than the $3.3 billion reported in the first quarter of 2020 (1Q20), and 70.1% lower than the $8.6 billion reported in the second quarter of 2019 (2Q19).
- In 2Q20, BBVA Argentina posted an inflation adjusted average return on assets (ROA) of 1.9% and an inflation adjusted average return on equity (ROE) of 10.9%.
- In terms of activity, total consolidated financing to the private sector in 2Q20 totaled $250.4 billion, increasing in real terms 5.4% or $12.8 billion compared to 1Q20, and contracting 5.0% or $13.3 billion compared to 2Q19. In the quarter, growth was driven by Other loans (mainly company loans or "Préstamos a Interés Vencido") and Discounted instruments, increasing 63.2% and 9.0% respectively. BBVA's consolidated market share of private sector loans was 8.54% as of 2Q20.
- Total deposits grew 8.0% in real terms during the quarter, and decreased 8.3% in the year. The Bank's consolidated market share of private deposits was 6.5% as of 2Q20.
- As of 2Q20, the non-performing loan ratio (NPL) reached 1.56%, with a 269.38% coverage ratio.
- The accumulated efficiency ratio in 2Q20 was 47.4%, remaining stable compared to 1Q20's 47.4%.
- As of 2Q20, BBVA Argentina reached a regulatory capital ratio of 21.9%, entailing a $53.2 billion or 167.6% excess over minimum regulatory requirement. Tier I ratio was 21.2%. Total liquid assets represented 63.8% of the Bank's total deposits as of 2Q20.
2Q20 Conference Call
Wednesday August 26, 2020, at 12:00 pm Buenos Aires time – (11:00am EST)
To participate, please dial in:
+ 54-11-3984-5677 (Argentina)
+ 1-844-450-3851 (U.S. Toll free)
+ 1-412-317-6373 (International)
Web Phone: LINK
Conference ID: BBVA
Webcast & Replay: link
To access the full report 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.
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Investor Relations Officer
SOURCE Banco BBVA Argentina