BFR results from BBVA's Press Release
Banco Francés in Argentina closed the year with
a significant growth in its market share. Lending
gained 15 basis points over the last 12 months,
mainly thanks to progress in consumer finance
(up 85 basis points) and corporate lending (up 84
basis points), while the share of customer funds
was up 8 basis points (all with November data,
the latest available). This explains the year-on-year
increase of 21.3% in net interest income. Growing
net fees and commissions (29.1%) and NTI (83.3%)led to a year-on-year increase in gross income of
28.3%. This, together with the increase in expenses
(as a result of inflation and the expansion plans
underway) and moderation in loan-loss provisions,
has led to a year-on-year increase of 32.9% in the
net attributable profit to €135m.