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BUENOS AIRES, Argentina, Aug. 24, 2021 /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 (2Q21), ended on June 30, 2021.
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 2020 and 2021 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to June 30, 2021.
BBVA Argentina's inflation adjusted net income in 2Q21 was $7.2 billion, 119.3% greater than the $3.3 billion reported on the first quarter of 2021 (1Q21), and 14.3% greater than the $6.3 billion reported on the second quarter of 2020 (2Q20).
In 2Q21, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 3.4% and an inflation adjusted average return on equity (ROAE) of 22.2%.
In terms of activity, total consolidated financing to the private sector in 2Q21 totaled $319.9 billion, contracting in real terms 2.9% compared to 1Q21, and 15.0% compared to 2Q20. In the quarter, changes were mainly driven by the fall in credit cards, other loans and overdrafts by 4.3%, 6.6% and 17.7% respectively. BBVA's consolidated market share of private sector loans was 8.21% as of 2Q21.
Total consolidated deposits in 2Q21 totaled $609.1 billion, increasing 8.1% in real terms during the quarter, and 8.6% in the year. Quarterly growth is mainly explained by sight deposits, especially checking accounts and savings accounts, which increased 21.2% and 6.2% respectively. The Bank's consolidated market share of private deposits was 7.41% as of 2Q21.
As of 2Q21, the non-performing loan ratio (NPL) reached 2.49%, with a 187.88% coverage ratio.
The accumulated efficiency ratio in 2Q21 was 70.1%, below 1Q21's 72.5%, and above 2Q20's 56.0%.
As of 2Q21, BBVA Argentina reached a regulatory capital ratio of 23.3%, entailing a $78.8 billion or 184.5% excess over minimum regulatory requirement. Tier I ratio was 22.6%.
Total liquid assets represented 75.7% of the Bank's total deposits as of 2Q21.
2Q21 Conference Call
Wednesday, August 25, 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 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.
Chief Financial Officer
Investor Relations Officer
SOURCE Banco BBVA Argentina S.A.