Q2 2024 Banco Bbva Argentina SA Earnings Call Transcript
Key Points
- Net income for the second quarter of 2024 was ARS112.9 billion, increasing 178.8% quarter-over-quarter.
- Retail digital sales measured in units reached 93.1% in the second quarter of 2024, representing 74% of the bank's total sales in monetary value.
- Private sector loans increased by 23.1% in real terms, with significant growth in discounted instruments, credit cards, overdrafts, and consumer loans.
- The bank's consolidated market share of private sector loans improved to 10.54% from 9.01% a year ago.
- Strong solvency indicators with a capital ratio of 25.3% and capital excess over regulatory requirements at 210.3%.
- Operating income in the second quarter of 2024 was ARS446.7 billion, 40.3% lower quarter-over-quarter.
- Net interest income fell by 27.4% quarter-over-quarter, driven by lower income from loans, Repos, and CPI-linked bonds.
- Interest expenses decreased by 49.1% quarter-over-quarter, mainly due to lower checking account expenses and time deposits.
- Loan loss allowances increased by 30.4% in line with the growth in real terms of the loan portfolio.
- Total public sector exposure excluding the central bank increased by 87.7% quarter-over-quarter, representing 26.3% of total assets.
Good morning, ladies and gentlemen, and thank you for waiting. At this time, we would like to welcome everyone to BBVA Argentina's second quarter 2024 results conference call. We would like to inform you that, this event is being recorded, and all participants will in listen-only mode during the company presentation. After the company remarks are completed, there will be a question-and-answer section. (Operator Instructions)
First of all, let me point out that some of the statements made during this conference call may be forward-looking statements within the meaning of the Safe Harbor provisions found in Section 27A of the Securities Act of 1933 under US Federal Securities Law.
These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Additional information concerning these factors is contained in BBVA Argentina's Annual Report on Form 20F for the fiscal year 2023, filed with the US Securities and Exchange Commission.
Today, with us we have Ms. Carmen
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
