BBVA Argentina Reports Strong Inflation-Adjusted Net Income and Growth in Key Areas

BBVA Argentina posted a substantial increase in inflation-adjusted net income for the second quarter of 2024, driven by growth in its operating income and loan portfolio. The bank's average return on assets and equity also showed improvement during the period. However, its operating income and total consolidated deposits experienced a decline compared to the same period in 2023.

Key Takeaways:

• BBVA Argentina's inflation-adjusted net income in 2Q24 was $112.9 billion, a 178.8% increase from 1Q24 and a 0.1% increase from 2Q23.
• The bank posted an inflation-adjusted average return on assets (ROAA) of 4.7% and an inflation-adjusted average return on equity (ROAE) of 19.5% in 2Q24.
• Operating income in 2Q24 was $446.7 billion, a 40.3% decline from 1Q24 and a 4.1% decline from 2Q23.
• Total consolidated financing to the private sector in 2Q24 reached $3.8 trillion, a 23.1% increase from 1Q24 and a 3.5% decline from 2Q23.
• BBVA's consolidated market share of private sector loans reached 10.54% as of 2Q24.

Statistics:

• Inflation-adjusted net income in 2Q24: $112.9 billion
• Inflation-adjusted average return on assets (ROAA) in 2Q24: 4.7%
• Inflation-adjusted average return on equity (ROAE) in 2Q24: 19.5%
• Operating income in 2Q24: $446.7 billion
• Total consolidated private sector loans: $3.8 trillion
• BBVA's consolidated market share of private sector loans: 10.54%
• Total consolidated deposits in 2Q24: $5.8 trillion

Sources:

• Banco BBVA Argentina S.A, Press Release, "BBVA Argentina Announces its Consolidated Results for the Second Quarter (2Q24)"
• IAS 29 Reporting