BUENOS AIRES, June 8, 2020 /PRNewswire/ -- Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) ("BBVA Argentina" or "BBVA" or "el Banco") announced today its consolidated results for the first quarter (1Q20), ended on March 31, 2020.
As of 1Q20, 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 March 31, 2020.
- BBVA Argentina's net income (including inflation adjustment) in 1Q20 was $3.1 billion, 20.1% lower than the $3.9 billion reported in the fourth quarter of 2019 (4Q19) and 36.2% lower than the $4.9 billion reported in the first quarter of 2019 (1Q19).
- In 1Q20, BBVA Argentina posted an inflation adjusted average return on assets (ROA) of 2.5% and an inflation adjusted average return on equity (ROE) of 14.5%.
- BBVA Argentina's net income (including inflation adjustment) in 1Q20 excluding results generated by Prisma Medios de Pago S.A. sale, would have been 6.9% lower to the $3.3 billion recorded on 4Q19 and 72% higher than the $1.8 billion recorded in 1Q19.
- In terms of activity, total consolidated financing to the private sector in 1Q20, adjusted by inflation, totaled $225.5 billion, increasing in real terms 3.8% or $8.3 million compared to 4Q19, and contracting 17.3% or $47.2 million versus 1Q19. In the quarter, growth was mainly driven by overdrafts and loans for the prefinancing and financing of exports, increasing 90.1% and 37.3% respectively. BBVA's consolidated market share of private sector loans of was 8.35% as of 1Q20.
- Total deposits, grew in real terms 3.5% in the quarter, and decreased 20.7% in the year. The Bank's consolidated market share of private deposits was 6.79% in 1Q20.
- As of 1Q20, the non-performing loan ratio (NPL) reached 2.78%, with a 186.12% coverage ratio.
- Accumulated efficiency ratio in 1Q20 was 47.4%, higher from 4Q19's 46.3%.
- As of 1Q20, BBVA Argentina reached a regulatory capital ratio of 21.8%, entailing a $48.6 billion or 166.3% excess over minimum regulatory requirement. Tier I ratio was 21.2%. Total liquid assets represented 68.7% of the Bank's total deposits as of 1Q20.
1Q20 Conference Call
Tuesday, June 9, 2020 at 12:00pm 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: click here
Conference ID: BBVA
Webcast & Replay: click here
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.
Investor Relations contacts:
Chief Financial Officer
Investor Relations Officer
SOURCE Banco BBVA Argentina