BBVA(BBAR)2024-11-22 03:24Financial Data and Key Metrics Changes - BBVA Argentina's inflation-adjusted net income for Q3 2024 was ARS 99.2 billion, a decrease of 21.6% quarter-over-quarter [12] - The quarterly return on equity (ROE) was 16.9% and return on assets (ROA) was 2.9% [12] - Net interest income fell to ARS 460.3 billion, down 39.5% quarter-over-quarter [15] - Total operating expenses decreased by 17.6% quarter-over-quarter, amounting to ARS 316.6 billion [21] Business Line Data and Key Metrics Changes - Retail digital sales reached 92.6% in Q3 2024, representing 73.7% of total sales in monetary value [11] - Net fee income totaled ARS 71.1 billion, increasing 7.9% quarter-over-quarter [18] - Loan loss allowances decreased by 11.5%, aligning with the growth in the performing loan portfolio [20] Market Data and Key Metrics Changes - Private sector loans totaled ARS 5.5 trillion, increasing 26.5% quarter-over-quarter in real terms [24] - The bank's consolidated market share of private sector loans improved to 10.35% from 9.35% a year ago [29] - Total deposits reached ARS 8.5 trillion, increasing 30.9% quarter-over-quarter [30] Company Strategy and Development Direction - The company is focusing on digital channels for customer acquisition, which reached 83% by the end of September 2024 [10] - BBVA Argentina aims to sustain and expand its competitive position in the financial system through digital transformation [11] Management Comments on Operating Environment and Future Outlook - Management noted signs of economic recovery after a sharp contraction in the first half of 2024, with a forecasted GDP decline of 4% in 2024 followed by a 6% expansion in 2025 [8] - Inflation expectations have improved, with a projected year-end inflation rate of 125%, down from 211% in the same period of 2023 [8] Other Important Information - The capital ratio reached 22.2%, with capital excess over regulatory requirements at 172.4% [32] - The bank issued corporate bonds for ARS 24.5 billion at a face value, marking its first issuance since 2019 [37] Q&A Session Summary - No specific questions or answers were recorded during the Q&A session, as the operator concluded the presentation without further inquiries [39][40]