The following is a summary of the Banco BBVA Argentina S.A. SPON ADS EACH REP 3 ORD SHS (BBAR) Q4 2023 Earnings Call Transcript:
Financial Performance:
BBVA Argentina reported inflation-adjusted net income of ARS 48.6 billion in Q4 2023, a 220.8% increase from Q3 2023, though the annual income decreased by 8.6% year-on-year.
The Q4 operating income was ARS 477.9 billion, which is up 86.4% than Q3.
The bank yielded an inflation-adjusted return on assets (ROA) of 2.7% and a return on equity (ROE) of 13% in 2023.
Net interest income for the quarter stood at ARS 495.7 billion, marking a 19.7% increase quarter-to-quarter.
There was a 74.9% increase in loan loss allowances in the fourth quarter.
The total operating expenses were slightly high at ARS 211.7 billion, a 0.6% increase over the previous quarter.
Business Progress:
The bank's digital engagement increased with retail digital customers accounting for 62% and mobile clients reaching 57% by the end of 2023.
Digital sales constituted a significant portion of total sales with 93.2% unit sales and 69.8% in monetary value.
Acquisitions of new customers through digital channels increased to 75% in the fourth quarter of 2023.
Despite a 12.3% YoY decrease in private sector loans, BBVA Argentina's consolidated market share improved to 9.85% from 9.10% a year earlier.
Deposits from the private non-financial sector decreased by 8.6% QoQ, totaling ARS 3.1 trillion.
The bank's liquidity ratio was strong at 91.2% of total deposits by the end of 2023, and the capital ratio reached 32.8% in Q4, primarily due to better OCI results.
More details: Banco BBVA IR
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