Banco BBVA Argentina’s inflation adjusted net income in 2020 was $12.0 billion, 38.9% lower than the $19.7 billion reported in 2019.
BUENOS AIRES, Argentina, March 9, 2021 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 fourth quarter (4Q20) and fiscal year ended on December 31, 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 December 31, 2020.
2020 Highlights
- Banco BBVA Argentina’s inflation adjusted net income in 2020 was $12.0 billion, 38.9% lower than the $19.7 billion reported in 2019.
- In 2020, Banco BBVA Argentina posted an accumulated inflation adjusted average return on assets (ROAA) of 1.8% and an inflation adjusted average return on equity (ROAE) of 11.8%.
- In terms of activity, total consolidated financing to the private sector in 2020 totaled $290.3 billion, increasing in real terms 5.9% compared to 2019. Growth was driven by the increase in other loans, credit cards and discounted instruments by 46.4%, 16.6% and 7.9% respectively. BBVA’s consolidated market share of private sector loans was 8.49% as of 4Q20.
- Total deposits totaled $478.2 billion in 2020, growing in real terms 19.5% year-over-year (YoY), promoted by private deposits in pesos, mainly checking accounts and the incorporation of investment accounts. The Bank’s consolidated market share of private deposits was 7.13% as of 4Q20.
- As of 2020, the non-performing loan ratio (NPL) reached 1.42%, with a 324.43% coverage ratio.
- The accumulated efficiency ratio in 2020 was 56.8%, above 2019’s 43.7%.
- As of 4Q20, BBVA Argentina reached a regulatory capital ratio of 20.2%, entailing a $57.1 billion or 147.1% excess over minimum regulatory requirement. Tier I ratio was 19.6%. Total liquid assets represented 67.5% of the Bank’s total deposits as of 4Q20.
4Q20 Conference Call
Wednesday, March 10, 12:00 p.m. Buenos Aires time – (10:00 a.m. EST)
To participate, please dial in:
+1-844-450-3851 (US Toll-Free)
+1-412-317-6373 (International)
+54-11-3984-5677 (Argentina)
Web Phone: click here
Conference ID: BBVA
Webcast & Replay: click here
To access the full report please click here
About BBVA Argentina
Banco 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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