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Banco BBVA Argentina S.A. announces Third Quarter 2021 results

Published: 2021-11-24 21:30:00 ET

BUENOS AIRES, Argentina, Nov. 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 third quarter (3Q21), ended on September 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 September 30, 2021.

3Q21 Highlights

BBVA Argentina's inflation adjusted net income in 3Q21 was $3.4 billion, 57.1% lower than the $7.9 billion reported on the second quarter of 2021 (2Q21), and 37.6% lower than the $5.4 billion reported on the third quarter of 2020 (3Q20).
In 3Q21, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.4% and an inflation adjusted average return on equity (ROAE) of 9.3%.
In terms of activity, total consolidated financing to the private sector in 3Q21 totaled $339.9 billion, contracting in real terms 2.8% compared to 2Q21, and 13.8% compared to 3Q20. In the quarter, the decrease was mainly driven by the fall in prefinancing and financing of exports and other loans by 40.1%, and 13.9% respectively. BBVA's consolidated market share of private sector loans reached 8.08% as of 3Q21.
Total consolidated deposits in 3Q21 totaled $630.8 billion, contracting 5.2% in real terms during the quarter, and growing 5.3% in the year. Quarterly decrease was mainly explained by sight deposits, especially savings accounts and checking accounts, which fell 9.3% and 8.6% respectively. The Bank's consolidated market share of private deposits reached 7.02% as of 3Q21.
As of 3Q21, the non-performing loan ratio (NPL) reached 2.54%, with a 181.76% coverage ratio.
The accumulated efficiency ratio in 3Q21 was 69.7%, below 2Q21's 70.1%, and above 3Q20's 62.9%.
As of 3Q21, BBVA Argentina reached a regulatory capital ratio of 23.5%, entailing an $88.5 billion or 187.7% excess over minimum regulatory requirement. Tier I ratio was 22.9%.
Total liquid assets represented 76.9% of the Bank's total deposits as of 3Q21.

3Q21 Conference CallMonday, November 29 - 12:00 p.m.Buenos Aires time (10:00 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: BBVAWebcast & 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

Ernesto GallardoChief Financial OfficerInés LanusseInvestor Relations Officer

investorelations-arg@bbva.com ir.bbva.com.ar

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SOURCE Banco BBVA Argentina S.A.

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