BUENOS AIRES, Argentina–(BUSINESS WIRE)–Banco BBVA Argentina (NYSE:) S.A (NYSE: BYMA; MAE: BBAR; LATIBEX: XBBAR) (BBVA (BME:) Argentina or BBVA or the Bank) announced today its consolidated results for the third quarter (3Q24), ended on September 30, 2024.
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 2023 and 2024 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to September 30, 2024.
3Q24 Highlights
- BBVA Argentina’s inflation adjusted net income in 3Q24 was $99.2 billion, 21.6% below the $126.6 billion reported on the second quarter of 2024 (2Q24), and 224.8% above than the $30.5 billion reported on the third quarter of 2023 (3Q23). Inflation adjusted accumulated net income for the first nine months of 2024 was $271.2 billion, 15.7% higher than the accumulated net result of $234.5 billion in the first nine months of 2023.
- In 3Q24, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 3,4% and an inflation adjusted average return on equity (ROAE) of 16,9%. In the nine months of 2024, BBVA Argentina posted an inflation adjusted ROAA of 2.9% and an inflation adjusted ROAE of 13.9%.
- Operating income in 3Q24 was $294.0 billion, 41.3% lower than the $500.9 billion recorded in 2Q24 and 43.1% lower than the $517.0 billion recorded in 3Q23. In the first nine months of 2024, the accumulated operating income was $1.63 trillion, 13.1% above the $1.45 trillion recorded in the same period of 2023.
- In terms of activity, total consolidated financing to the private sector in 3Q24 totaled $5.5 trillion, increasing 26.5% in real terms compared to 2Q24, and 16.4% compared to 3Q23. In the quarter, the variation was driven by an overall growth in all lines, especially in discounted instruments by 50.9%, in consumer loans by 51.0% and in credit cards by 12.9%. BBVA’s consolidated market share of private sector loans reached 10.35% as of 3Q24.
- Total (EPA:) consolidated deposits in 3Q24 totaled $8.5 trillion, increasing 30.9% in real terms during the quarter, and falling 6.4% YoY. Quarterly increase was mainly explained by an increment in time deposits and savings accounts, by 35.5% and 48.8% respectively. The Bank’s consolidated market share of private deposits reached 8.67% as of 3Q24.
- As of 3Q24, the non-performing loan ratio (NPL) reached 1.18%,…
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