Banco BBVA Argentina SA announces its results for the second quarter of 2021 | 2021-08-24 | Press Releases
Buenos Aires, Argentina, August 24, 2021 / PRNewswire / – Banco BBVA Argentina SA (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) (“BBVA Argentina” or “BBVA” or “the Bank”) today announced its consolidated results for the second quarter ( 2Q21), completed June 30, 2021.
From January 1, 2020, the Bank has started reporting its inflation-adjusted results in accordance with IAS 29. For ease of comparison, the figures for the comparable quarters of 2020 and 2021 have been updated in accordance with IAS 29 to reflect the cumulative effect of the inflation adjustment for each period up to June 30, 2021.
Highlights of 2Q21
- BBVA Argentina’s inflation-adjusted net income in 2Q21 was $ 7.2 billion, 119.3% more than the $ 3.3 billion reported for the first quarter of 2021 (1Q21), and 14.3% more than the $ 6.3 billion published in the second quarter of 2020 (2Q20).
- In 2Q21, BBVA Argentina posted an inflation-adjusted average return on assets (ROAA) of 3.4% and an average inflation-adjusted return (ROAE) of 22.2%.
- In terms of activity, total consolidated financing to the private sector in 2Q21 amounts to $ 319.9 billion, contracting in real terms by 2.9% compared to 1Q21, and by 15.0% compared to 2Q20. During the quarter, the variations are mainly due to the drop in credit card, other loans and discovered 4.3%, 6.6% and 17.7% respectively. BBVA’s consolidated market share in private sector loans was 8.21% in 2Q21.
- Total consolidated deposits in 2Q21 amounted to $ 609.1 billion, increasing by 8.1% in real terms during the quarter and by 8.6% over the year. The quarterly growth is mainly explained by demand deposits, in particular verify accounts and savings accounts, which increased by 21.2% and 6.2% respectively. The private deposit bank’s consolidated market share was 7.41% in 2Q21.
- In 2Q21, the ratio of non-performing loans (NPL) reached 2.49%, with a coverage rate of 187.88%.
- The cumulative efficiency ratio in 2Q21 was 70.1%, less than 72.5% in 1Q21 and greater than 56.0% in 2Q20.
- In 2Q21, BBVA Argentina achieved a regulatory capital ratio of 23.3%, $ 78.8 billion or an excess of 184.5% over minimum regulatory requirements. The Tier I ratio was 22.6%.
- Total liquid assets represented 75.7% of the Bank’s total deposits in 2Q21.
2Q21 conference call
Wednesday 25 August, 12h00Buenos Aires time – (11:00 am EST)
To participate, please dial:
+ 54-11-3984-5677 (Argentina)
+ 1-844-450-3851 (United States)
+ 1-412-317-6373 (International)
Internet phone:Click here
Conference ID: BBVA
Webcast and Replay:Click here
To access the full report, pleaseClick here
About BBVA Argentina
BBVA Argentina (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) is a subsidiary of the BBVA Group, main shareholder since 1996. In Argentina, it has been one of the leading private financial institutions since 1886. Nationally, BBVA Argentina offers personal and business banking services to a wide range of clients, including: individuals, SMEs and large corporations.
BBVA Argentina’s goal is to provide opportunities for everyone in the era, based on the real needs of our clients, providing them with the best solutions and helping them make the best financial decisions through a simple and practical experience. . The institution is based on solid values: “The customer comes first, We think big and We form a single team”. At the same time, its responsible banking model aspires to a more inclusive and sustainable society.
Investor Relations Officer
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SOURCE Banco BBVA Argentina SA