BUENOS AIRES, Argentina, Nov. 24, 2020 /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 (3Q20), ended on September 30, 2020.
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 2019 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to September30, 2020.
BBVA Argentina's inflation adjusted net income in 3Q20 was $2.83 billion, 2.9% greater than the $2.75 billion reported in the second quarter of 2020 (2Q20) and 65.4% lower than the $8.19 billion reported in the third quarter of 2019 (3Q19).
In 3Q20, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 1.9% and an inflation adjusted average return on equity (ROAE) of 11.0%.
In terms of activity, total consolidated financing to the private sector in 3Q20 totaled $258.6 billion, contracting in real terms 4.1% compared to 2Q20, and 10.6% compared to 3Q19. In the quarter, contraction was driven by the fall in overdrafts and loans for the prefinancing and financing of exports which decreased 41.0% and 27.6% respectively, partially offset by an increase in pledge loans, discounted instruments and credit cards, growing 17.1%, 15.7% and 10.8% respectively. BBVA's consolidated market share of private sector loans was 8.25% as of 3Q20.
Total deposits contracted 0.6% in real terms during the quarter, and expanded 6.5% in the year. The Bank's consolidated market share of private deposits was 6.48% as of 3Q20.
As of 3Q20, the non-performing loan ratio (NPL) reached 1.16%, with a 355.26% coverage ratio.
The accumulated efficiency ratio in 3Q20 was 58.0%, above 2Q20's 54.7%.
As of 3Q20, BBVA Argentina reached a regulatory capital ratio of 23.3%, entailing a $61.9 billion or 184.5% excess over minimum regulatory requirement. Tier I ratio was 22.6%. Total liquid assets represented 66.0% of the Bank's total deposits as of 3Q20.
3Q20 Conference Call
Wednesday, November 25, 2020. At 12:00 p.m. Buenos Aires time – (10:00 a.m. EST)
To participate, please dial in:
+1-844-450-3851 (US Toll-Free)
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.
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SOURCE Banco BBVA Argentina S.A.