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Banking industry

BBVA Argentina Reports Strong Second Quarter Results

Strategic Insights

— 2 min read

Banco BBVA Argentina S.A. has reported its consolidated results for the second quarter (2Q24), ended on June 30, 2024, with a net income of $112.9 billion, a 178.8% increase from the first quarter of 2024 (1Q24). This marks a significant improvement from the second quarter of 2023 (2Q23), where the bank reported a net income of $112.803 billion. The bank's operating income in 2Q24 was $446.7 billion, a 40.3% decrease from 1Q24 and a 4.1% decrease from 2Q23. Despite this, the bank's accumulated operating income in the first half of 2024 was $1.20 trillion, a 44.4% increase from the same period in 2023.

Key Takeaways:

  • Inflation-adjusted net income in 2Q24 was $112.9 billion, a 178.8% increase from 1Q24 and a 0.1% increase from 2Q23.
  • Operating income in 2Q24 was $446.7 billion, a 40.3% decrease from 1Q24 and a 4.1% decrease from 2Q23.
  • Accumulated operating income in the first half of 2024 was $1.20 trillion, a 44.4% increase from the same period in 2023.
  • Total consolidated financing to the private sector in 2Q24 totaled $3.8 trillion, an increase of 23.1% in real terms compared to 1Q24 and a decrease of 3.5% compared to 2Q23.
  • The bank's consolidated market share of private sector loans reached 10.54% as of 2Q24.
  • Total consolidated deposits in 2Q24 totaled $5.8 trillion, an increase of 2.6% in real terms during the quarter, and a decrease of 22.2% YoY.
  • The bank's consolidated market share of private deposits reached 7.50% as of 2Q24.
  • The non-performing loan ratio (NPL) reached 1.18%, with a 165.50% coverage ratio.
  • The accumulated efficiency ratio in 2Q24 was 59.9%, an improvement from 1Q24's 65.4% and above 2Q23's 56.6%.

Statistics:

  • Net income in 2Q24: $112.9 billion
  • Operating income in 2Q24: $446.7 billion
  • Accumulated operating income in the first half of 2024: $1.20 trillion
  • Total consolidated financing to the private sector in 2Q24: $3.8 trillion
  • Consolidated market share of private sector loans as of 2Q24: 10.54%
  • Total consolidated deposits in 2Q24: $5.8 trillion
  • Consolidated market share of private deposits as of 2Q24: 7.50%
  • Non-performing loan ratio (NPL) as of 2Q24: 1.18%
  • Coverage ratio as of 2Q24: 165.50%
  • Accumulated efficiency ratio in 2Q24: 59.9%

Sources:

  • Banco BBVA Argentina S.A. news release, dated July 2024
  • IAS 29 reporting

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