BBVA Argentina

3Q20 Corporate Presentation

December 2020

Safe Harbour Statement

This press release contains certain forward-looking statements that reflect the current views and/or expectations of Banco BBVA Argentina and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "seek," "future," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) changes in general economic, financial, business, political, legal, social or other conditions in Argentina or elsewhere in Latin America or changes in either developed or emerging markets, (ii) changes in regional, national and international business and economic conditions, including inflation, (iii) changes in interest rates and the cost of deposits, which may, among other things, affect margins, (iv) unanticipated increases in financing or other costs or the inability to obtain additional debt or equity financing on attractive terms, which may limit our ability to fund existing operations and to finance new activities, (v) changes in government regulation, including tax and banking regulations, (vi) changes in the policies of Argentine authorities, (vii) adverse legal or regulatory disputes or proceedings, (viii) competition in banking and financial services, (ix) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of Banco BBVA Argentina, (x) increase in the allowances for loan losses, (xi) technological changes or an inability to implement new technologies, (xii) changes in consumer spending and saving habits, (xiii) the ability to implement our business strategy and (xiv) fluctuations in the exchange rate of the Peso. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Banco BBVA Argentina's filings with the U.S. Securities and Exchange Commission (SEC) and Comisión Nacional de Valores (CNV). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. Banco BBVA Argentina is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Information

This earnings release has been prepared in accordance with the accounting framework established by the Central Bank of Argentina ("BCRA"), based on International Financial Reporting Standards ("I.F.R.S.") and the resolutions adopted by the International Accounting Standards Board ("I.A.S.B") and by the Federación Argentina de Consejos Profesionales de Ciencias Económicas ("F.A.C.P.E."), with the transitory exceptions: (i) the record of a prevision for contingencies referred to uncertain fiscal positions required by the BCRA, (ii) the adjustment in valuation established by the B.C.R.A. applied to the valuation of the remaining investment the Bank keeps of Prisma Medios de Pago S.A. ("Prisma"), and (iii) the temporary exclusion of the application of the IFRS 9 impairment model for non-financial public sector debt instruments.

As of 1Q20, 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 June 30, 2020.

The information in this press release contains unaudited financial information that consolidates, line item by line item, all of the banking activities of BBVA Argentina, including: BBVA Asset Management Argentina S.A., Consolidar AFJP-undergoing liquidation proceeding, and as of July 1, 2019, PSA Finance Argentina Compañía Financiera S.A. ("PSA") and Volkswagen Financial Services Compañía Financiera S.A ("VWFS").

BBVA Consolidar Seguros S.A. is disclosed on a consolidated basis recorded as Investments in associates (reported under the proportional consolidation method), and the corresponding results are reported as "Income from associates"), same as Rombo Compañía Financiera S.A. ("Rombo"), Play Digital S.A. and Interbanking S.A.

Financial statements of subsidiaries have been elaborated as of the same dates and periods as Banco BBVA Argentina S.A.'s. In the case of consolidated companies PSA and VWFS, financial statements were prepared considering the B.C.R.A. accounting framework for institutions belonging to "Group B", without considering the model established by the IFRS 9 5.5. "Impairment" section for periods starting as of January 1, 2021. As of October 2020, PSA and VWFS will belong to "Group C" institutions, keeping the same accounting framework as for "Group B" institutions.

The information published by the BBVA Group for Argentina is prepared according to IFRS, without considering the temporary exceptions established by BCRA.

BBVA Argentina 3Q20 Highlights

As of 1Q20, 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 September 30, 2020.

BranchesIn-company branches

Total assets

Loans to the private sectorTotal Deposits

247

15

AR$589.8 bn

AR$258.6 bn

AR$393.1 bn

ATMs

Customer service booths

883

2

Net Interest IncomeNet Fee Income

Op. Expenses*

Net Income

ATSs

Employees**

AR$16.7 bn

AR$3.0 bn

AR$12.5 bn

AR$2.8 bn

860

6,065

ROE

ROANPL ratioCoverage ratioEfficiency ratio***

11.0% 1.9%

1.16% 355.26% 49.1%

TOTAL ACTIVE CUSTOMERS

DIGITAL SALES

SEPTEMBER 2020

Digital Customers1

Mobile Customers2

PRV3

RETAIL

SMEs

CIB

+2.6 m

+50 k

+700

+1.9 m

+1.5 m

69%

  • 1. Digital Customers: We consider a customer to be an active user of online banking when they have been logged at least once within the last three months using the internet or a cell phone and SMS banking

  • 2. Mobile Customers: Customers who have been active in online banking at least once in the last three months using a mobile device

  • 3. Retail PRV: Product Relative Value as a proxy of a better economic representation of units sold

*Operating expenses: includes administration, personnel benefits, depreciations and other expenses. **corresponds to total effective employees, net of temporary contract employees ***excluding inflation adjustments. Including inflation adjustments it would be 66.1%.

Macro View

POLITICS

Main Variables

  • The National Government announced that almost the entire country has entered a social distancing phase, meaning that most of the activities are now restored. Meanwhile, the lower house passed the wealth tax bill, in a divided result, thus stringing (even more) the relationship between the government and the opposition.

80.88

$/US$

ARS/USD rate

+35.5%

YoY

38.7

U$S Bn

INTERNATIONAL RESERVES

-11.4%

YoY

37.2%

Oct'20

INFLATION YoY

35.8%

REM Consensus Dec. 2020

36.7%

Monetary Policy Rate

-2,433 bp

YoY

As of November 30, 2020

INFLATION

  • October recorded a 3.8% MoM change in inflation (37.2% YoY), above the Central Bank consensus (3.2% MoM). The recent accelleration is mainly driven by both the easing of mobility restrictions and the monetary overhang (resulting from the money issuance).

ACTIVITY

  • Economic activity keeps on showing signs of recovery in 3Q20 (+13.2% QoQ s.a. according to the monthly GDP proxy). Both industry and construction maintain the upward trend in September. Industry increased 4.3% MoM s.a. (+3.4% YoY and -10.8% YoY accumulated), showing its first postitive YoY variation in 2020. Construction improved +3.9% MoM s.a. (-3.9% YoY and -28.6% YoY accumulated).

FISCAL POLICY

  • October's fiscal result was better than expected. Revenues increased 28.1% YoY and expenses grew 54.8% YoY, thus recording a monthly deficit of AR$ 81.6 bn (accumulating AR$ 1,383 bn in 2020, 5% of GDP).

SOVEREIGN DEBT

  • After succesfully restructuring 99% of the ellegible private creditors debt, the government is now seeking a new agreement with the IMF. According to official sources, the government wants an Extended Fund Facility (EFF), which is a long-term agreement (4-10 years) that usually requiers structural reforms. Argentina is facing maturities of US$ 42.14 bn with the multilateral organism between 2021 and 2023.

We Face this Crisis from a Strong Position

Reorienting our clients to remote and digital channels, boosted by COVID-19 pandemic

Our digital capacities are a competitive advantage

x40

84%

21%

ISSUED ECHEQS

WIRE TRANSFERS

APP AND DESKTOP LOGINS

76%

x2.3

DIGITAL TIME

INTERACTIONS THROUGH

DEPOSITS

VIRTUAL ASSISTANT

All indicators correspond to variations vs 1Q20

COVID-19 support loans as of 3Q20

16% of total AR$ loans

Accumulated granted to SMEs, Health services, Zero rate credits and MiPyME Plus credits

As of 3Q20 support loans represent 16% of our AR$ portfolio

+AR$6.0 bn

+AR$26.0 bn

Granted to SMEs for Salary payments

Granted to SMEs for Discounted Instruments

27%

18%

+AR$5.0 bn

+AR$1.8 bn

Discounted Instruments*

Salary & Working Capital*

Granted to SMEs for Working Capital

Granted with FoGAr warrants

22%

3%

AR$170 mn

+AR$7.9 bn

Zero rate loans*

Consumer Loans to Entrepreneurs and SMEs*

Granted to Health Services

Granted at Zero rate and "Zero Culture" rate

29%

AR$19 mn

+AR$180 mn

Granted in MiPyME Plus 24% program

Subsidized rate

Credit card loans refinancing*

*Over support Loan Portfolio

01

Financial System

Adequate systemic levels of liquidity and solvency

Allowances /Irregular non-financial private sector portfolio

COVERAGE (%)

LIQUIDITY (%)

Cash + net repos with BCRA+ BCRA bills/Total Deposits

CAPITAL (%)

Capital/RWA according to BCRA regulation

NPL (%)

Irregular non-financial private sector portfolio/Financing to the non-financial private sector

Source: "Informe sobre bancos", BCRA, as of September, 2020. Values as of January 2020 are not comparable to previous periods due to inflation adjustments.

140%

120%

100%

80%

60%

40%

20%

0%

Positive real profitability for private banks

ROE (ACCUMULATED ANNUALIZED) AND INFLATION

59.2%

47.6%

53.8%

44.4%

36.1%

35.6%

20.8%

BBVA ROE 12.

3%

17.5%

18.8%

16.8%

2018

2019

2Q20

3Q20

ROE Private Banks

YoY Inflation

Source: BCRA and IPC CABA (from Jan-13 to Apr-16) - IPC GBA INDEC (from May -16 to May -17) - IPC Nacional INDEC (from June -17)

ROE System

ROE: "Informe sobre Bancos" BCRA as of September, 2020. Values as of January 2020 are not comparable to previous periods due to inflation adjustments.

Inflation adjusted figures

A small financial system with good infrastructure, ready for potential growth

LATAM PRIVATE LOANS AND TOTAL DEPOSITS (% of GDP)

23.4 %

BRANCHES AND ATMs/100,000 ADULT POPULATION (Branches and ATMs / 100,000 adult population)

126.7

dec-15

dec-16

dec-17

dec-18

Loans/GPD

dec-19

mar-20

Deposits/GDP

jun-20

sep-20

99.7%

Credit (%GDP)

Deposits (%GDP)

ArgentinaChileColombiaPeru

ArgentinaChileColombiaPeru

Source: IMF and BBVA Research as of 2019 for Credit and Deposits as % of GDP, and as of 2019 for Branches and ATMs. Last information available..

13.4

13.0

14.5

6.6

60.9

49.6

41.3

Branches

ATMs

Financial System Private Nominal Growth Rates

RETAIL & COMMERCIAL LOANS GROWTH (AR$ billions)

3,200

2,200

2,700

System

1,700

1,200

700

Dec-18

Mar-19

System total loans

Jun-19

System total Commercial loans

Sep-19

Dec-19

Mar-20

System total Retail loansBBVA total loans

Var YoY%

2018

2019

YTD

System total loans

33%

16%

19%

System total Retail loans

30%

16%

15%

System total Commercial loans

36%

15%

24%

BBVA total loans

39%

2%

28%

Sources: Capital balance as of last day of each quarter. BCRA as of September, 2020

SIGHT & TIME DEPOSITS GROWTH (AR$ billions)

300 6,700

250 5,700

200 4,700

150 3,700

BBVASistema

100 2,700

50 1,700

0 700

Jun-20

Sep-20

Dec-18

Mar-19 Jun-19

Sep-19

System total DepositsSystem Time DepositsDec-19

Mar-20 Jun-20 Sep-20

System Sight DepositsBBVA total Deposits

Var YoY %

2018

2019

YTD

System total Deposits

62%

26%

49%

System Sight Deposits

52%

30%

40%

System Time Deposits

79%

19%

65%

BBVA total deposits

67%

13%

36%

450 400 350 300 250 200 150 100 50 0

BBVA

02

BBVA Argentina

A leading bank…

Assets (AR$ bn - % Market Share)

Equity (AR$ bn - % Market Share)

Public Banks

Source: "Informe de entidades financieras", BCRA, as of March 2020. Last quarterly information available.

7,906

Liabilities (AR$ bn - % Market Share)

6,715

Net Income including OCI (AR$ bn - % Market Share)

61.3%

1,191

41.0

Private Banks

…in a fragmented financial system…

Total Private Loans (AR$ bn - % Market Share)

Total Private Deposits (AR$ bn - % Market Share)

2,761

4,763

*Includes PSA + Volkswagen.+ Rombo

Source: "Informe de entidades financieras", BCRA, as of March 2020. Last information available.

Public BanksPrivate Banks

…with a diversified business model

MULTICHANNEL STRUCTURE

*POS: Includes points of sale in supermarkets and shopping centers

03

3Q20 Financial Results

3Q20 Highlights - In Real Terms

  • 01 Net Income

    AR$ 2.8 bn

    -65.4% YoY

  • 02 Net Interest Income

    AR$ 16.7 bn

    -25.6% YoY

  • 03 Net Fee Income

    AR$ 3.0 bn

    +33.7% YoY

  • 04 Operating expenses

    AR$ 12.5 bn

    23.2% YoY

  • 05 Risk indicators

    NPL ratio 1.16%Coverage ratio 355.26%

  • 06 Strong capital position

    Capital Ratio 23.3%

    TIER I 26.6%

  • 07 Focus on shareholder value

  • ROE 11.0%

    ROA 1.9%

Solid Balance Sheet Structure

ASSETS

LIABILITIES & EQUITY

(AR$ billions, INFLATION ADJUSTED)

(AR$ billions, INFLATION ADJUSTED)

583

590

16%

18%

15%

13%

68%

64%

3Q20

584

583

584

590

3Q19

Property and equipmentLoans and other financingCash and Deposits in banks

2Q20

TOTAL NET LOANS / TOTAL DEPOSITS

Other assets

Private and Public Debt securities

Total L7o5a%ns/Total Dep6o5s%its 67%

3Q20

3Q19

2Q20

Deposits

Financing received from other financial instTotal Equity

Corporate bonds issuedOther liabilities

63%

Loans - peso loan demand slowdown after activity recovery in 2Q20

TOTAL PRIVATE LOAN PORTFOLIO

(AR$ billions, INFLATION ADJUSTED

12%

-65%

205

70%

84.7

30%

3Q19

PRIVATE SECTOR LOANS MARKET SHARE %*

Bank Consolidated**

232

229

86%

89%

38.0

14%

2Q20 3Q20

AR$USD

3Q19 7.34% 8.13%

2Q20 3Q20

  • 7.50% 7.46%

  • 8.54% 8.25%

*Based on daily information from BCRA. Capital balance as of last day of each quarter. **Consolidates PSA, VWFS and Rombo

NET PRIVATE LOANS STRUCTURE

Retail*

55%

SMEs 32%

*Corporate credit cards included

NET TOTAL LOANS BY ECONOMIC ACTIVITY

Public + Financial sectors 1%Corporate 11%

11%

29.3

Financial Sector 1%

Agricultural and Livestock 5%

Consumer 51%

Loans by Segment - pick up in retail segment demand

BBVA ARGENTINA (% over total private loans AR$ billions, inflation adjusted)

Retail Loan Portfolio - credit cards boosted by "Ahora" programs

CONSUMER LOANS

(AR$ billions, INFLATION ADJUSTED)

CREDIT CARDS

(AR$ billions, INFLATION ADJUSTED)

-20%

+26%

32.6

3Q19

2Q20

CONSUMER LOANS MARKET SHARE*

5.16%

4.95%

5.31%

*Based on daily information from BCRA. Capital balance as of last day of every quarter.

100.00

91.9

3Q20

90 .00

60 .00

80 .00

40 .00

30. 00

20. 00

50. 00

70.00

10.00

0. 00

3Q19

73.1

Credit Cards

2Q20

83.0

3Q20

Credit card stock (in thousands)

CREDIT CARD MARKET SHARE %*

3Q19

2Q20

3Q20

Financing

11.21%

11.67%

11.94%

Consumption

14.93%

14.20%

14.28%

*Credit cards: Consumption market share. Based on information provided by Visa and Mastercard administrators. Spending is considered as of the end of the last month of the quarter.

Retail Loan Portfolio - slight recovery in pledge loans

PLEDGE LOANS (CONSOLIDATED)

(AR$ billions, INFLATION ADJUSTED)

(AR$ billions, INFLATION ADJUSTED)

3Q19

2Q20

BankJVs

PLEDGE LOANS MARKET SHARE**

3Q20

14.21%

13.44%

13.92%

**Consolidated market share. Based on daily information from BCRA. Capital balance as of last day of every quarter.

MORTGAGE LOANS

-9%

17.5

16.9

3Q19

2Q20

MORTGAGE LOANS MARKET SHARE*

3Q20

3.25%

3.02%

2.82%

*Based on daily information from BCRA. Capital balance as of last day of every quarter.

Commercial Loan Portfolio - slowdown in SMEs 24% loans

COMMERCIAL LOANS

(AR$ billions, INFLATION ADJUSTED)

COMMERCIAL LOANS BY CURRENCY (%)

144

3Q19

Other loansDiscounted instruments

-20%

136

2Q20

Prefinancing and financing of exportsOverdrafts

COMMERCIAL LOANS MKT SHARE%*

Loans in $

Loans in USD

Receivables from financial leases

3Q19

2Q20

8.46% 9.28% 7.91% 8.20% 7.34% 6.61%

*Based on daily information from BCRA. Capital values as of last day of every quarter.

115

YoY

-66% USD

+40% ARS

3Q20

3Q20

Deposits - AR$ deposits growing above inflation in real terms

TOTAL PRIVATE DEPOSITS

(AR$ billions, INFLATION ADJUSTED

34%

-30%

PRIVATE DEPOSITS STRUCTURE

IN AR$ (%)

3Q19

2Q20

AR$USD

PRIVATE DEPOSITS MARKET SHARE*

8.42%

6.50%

6.46%

*Based on daily information from BCRA. Capital balance as of last day of every quarter.

IN USD (%)

3Q20

Savings accounts 84%

3Q20 Profitability Indicators - efficiency affected by higher cost of funds

NET INCOME (AR$ billions, INFLATION ADJUSTED)

3Q19

ROA (%, INFLATION ADJUSTED)

2Q20

3Q20

3Q19

ROE (%, INFLATION ADJUSTED)

3Q19

2Q20

3Q20

EFFICIENCY (%, EXCLUDING INFLATION ADJUSTMENTS)

2Q20

3Q20

3Q19

2Q20

3Q20

Net Interest Income

NET INTEREST INCOME

(AR$ billions, INFLATION ADJUSTED)

2

50

39

1

0

1

24

-1

-1

-7

-17

-2

3Q19

2Q20

NET INTEREST INCOME (IN AR$ BILLIONS)

26

-9

3Q20

Savings accounts represent less than 1% of expenses

40

Interest Income

Financial Sector

30

CER/UVA clause adjustment income

20

Commercial

10

Retail

-

From Private and Public Securities

Other interest income

(10)

Interest Expense

(20)

Time deposits

CER/UVA clause adjustment expense

Checking accounts

Other

NII based on:

  • Increasing cost of funds driven by a change in deposit mix

  • Higher position in LELIQ increase income from public securities

Net Fee Income & Operating Expenses - Effective fee income strategy boosted by lower acquisition costs

NET FEE INCOME

(AR$ billions, INFLATION ADJUSTED)

3Q19

Fee Income

Fee expenses

2Q20

OPERATING EXPENSES

(AR$ billions, INFLATION ADJUSTED)

-23%

16.3

12.3

12.5

3Q20

Net Fee Income

3Q19

Personnel benefitsDepreciation and amortization

Adminsitrative expensesOther operating expenses

2Q20

3Q20

Sound Risk Indicators - Improvement in Commercial NPLs

NPL & COVERAGE

(%, consolidated, INFLATION ADJUSTED)

NPL PEER GROUP & FINANCIAL SYSTEM

(%, INFLATION ADJUSTED)

10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%

9.31%

3Q19

CoverageCommercial NPL

2Q20

NPLRetail NPL

3Q20

Cost of Risk

Cost of Risk: Current period loan loss allowances / Total average loans. Total average loans calculated as the average between loans at prior period end, and total loans in the current period.

400%

350%

300%

250%

200%

150%

100%

50%

0%

Source: System: "Informe de Bancos", BCRA, as of September 2020. Peers & BBVA : 2Q20 Earnings Releases. *Molca: Molino Cañuelas

System

SUPV

GGAL

Private banks

BBAR

BMA

4.80%

2.72%

2.70%

1.16%

1.14%

4.50%

Limited Public Sector Exposure

% PUBLIC SECTOR EXPOSURE (EXCL. BCRA) /TOTAL ASSETS

(INFLATION ADJUSTED)

10.9%

3Q19

2Q20

BBVAFinancial System*

3Q20

*Source: "Informe sobre bancos", BCRA, as of September 2020. As of January 2020, System figures are inflation adjusted and not comparable to prior periods.

BBVA PUBLIC SECTOR EXPOSURE

(AR$ billions, INFLATION ADJUSTED)

24.6

19.2

3Q19

Public Debt in pesos

2Q20

Public Debt in US dollars

Provinces and Public Sector loans amount for 0.1% in 3Q20

BBVA BCRA EXPOSURE

(AR$ billions, INFLATION ADJUSTED)

25.1

3Q20

Public Debt in pesos, US dollar-Linked

82.4

120.1

111.9

3Q19

2Q20

3Q20

Repo

LELIQs

Liquid Assets - change in deposit mix towards time deposits

TOTAL LIQUID ASSETS

PRIVATE DEPOSIT BASE

(%, INFLATION ADJUSTED)

(%, INFLATION ADJUSTED)

+14%

+6%

232

256

264

371

396

393

3Q19

2Q20

Cash

Other local and foreign financial institutionsLiquidity bills of B. C. R. A.

TOTAL LIQUID ASSETS/TOTAL DEPOSITS

B.C.R.A

Government securitiesNet REPO transactions

3Q20

TOTAL

AR$

USD

62% 58% 68%

64% 66%

57% 58%

80% 86%

64%

LOW COST FUNDING

3Q19

2Q20

3Q20

Checking AccountsSavings AccountsInvestment accountsOtherTime Deposits

Strong Capital Position - In Real Terms

3Q19

2Q20

3Q20

Capital Ratio

Tier I

04

BBVA Purpose

BBVA Defined a New Strategy in 2015: To Boost its Transformation

OUR PURPOSE

To bring the age of opportunity to everyone

Improving our clients' financial health

NEW STRATEGIC PRIORITIESOUR VALUES

Customer comes first

Reaching more clients

The best and most engaged team

We think big

Helping our clients transition towards a sustainable future

Driving operational excellence

Data & Technology

We are one team

BBVA Argentina Digital Client Strategy Approach

Client acquisition as a key corporate strategic asset for growth

Since 2017*, active clients increased 13%

More than 290,000 clients

Healthy NPL ratio

With an approach in open market

Successfully acquiring clients Reducing the number of branches

Payroll acquisition

New clients, increasing payroll market share

Ahead of curve in digital transformation Driving client acquisition and digital sales

*As of December 2019

Loyalty NPS* #2

Consistently leading in customer satisfaction indicator

BBVA Argentina Active Clients

Since 3Q19, active clients increased 3%, more than 92,000

In thousands

In thousands

0.78

3Q19

2Q20

3Q20

3Q19

2Q20

3Q20

3Q19

Retail

SMEs

CIB

BBAR

Active clients: holders of at least one active product. An active product is in most cases a product with at least "one movement" in the last 3 months, or a minimum balance. CIB does not include Mutual Fund clients Source: active credit cards and credit card market share based on Visa and Mastercard information. Active cards: number of cards that record movements by period end (purchases or extractions).

2Q20

3Q20

SAN

GAL

BMA

Geographic Structure as of December 2019

Successfully acquiring clients without increasing the number of branches Clients per branch increased 12% from 2017 to 2019

*Annual variation in number of branches

Source: "Informe de entidades financieras", BCRA, as of December 2019. Last annual information available. Clients: from 2019 20-F for SUPV and GAL, 2019 Annual Report for BMA.

Ahead of Curve in Digital Transformation Based on Global Strategy

Digital client acquisition strategy based on a variable-cost selling model, exclusive and attractive offers, and key partners

DIGITAL ACTIVE CLIENTS MILLION, % GROWTH

3Q19

2Q20

CUSTOMER PENETRATION RATE, %

MOBILE ACTIVE CLIENTS MILLION, % GROWTH

3Q20

3Q19

2Q20

Digital customers: number of retail clients that have logged in any of the bank's digital platforms at least once during each of the last 3 months.

3Q20

Mobile customers: number of retail clients that have logged in the bank's mobile app at least once during each of the last 3 months. It is a sub-group of digital customers.

Latest

Digital Actions

Digital branches

Combination between human capital and structure facilities to promote client self-service, aiming to digitalize and migrate clients to remote channels

Payment Solutions

Soon to be launched new payment solution app, together with other Argentine banks, enabling wire transfers and cashless payments through mobile phones, and making all member banks' promotions available at purchase.

Transformation Driving Digital Sales and Client Acquisition

RETAIL DIGITAL SALES

(% OF TOTAL SALES YTD, % OF UNITS AND PRV)

53.5%

80.0%

UNITSPRV

3Q19

2Q20

Digital Sales PRV (% Sales)

Digital Sales (% Units)

Digital sales: % of sales done through digital channels and ATM over total sales.

3Q20

PRV: Product Relative value for the Retail Segment, used as a proxy for economic value. Transactions (units) are weighted by a simplified NPV calculated for each product category in order to weight their contribution to the digital sales. Figures have been restated in order to include credit card related financing solutions and FX.

Continuous improvement on efficiency

Accelerated adoption of digital over traditional channels, and a migration from web to mobile

MONETARY TRANSACTIONS BY CHANNEL (IN MILLIONS)

Tellers

Remote

ATM+ATS

3Q19

3Q19

REMOTE CHANNELS

% MONETARY TRANSACTION GROWTH QoQ as of 3Q20

Mobile

2Q20

For the first time remote channels have more participation than

ATM+ATS

Web

*corresponds to total effective employees, net of temporary contract employees. Consolidated.

Branch reduction ongoing since 2019 (# of branches)

3Q20

Employees* (in thousands)

2Q20

3Q20

3Q19

2Q20

3Q20

Asset Quality

NPL as % of Total Lending

2018

2019

BBVA

Allowances as % of NPL

2018

2019

Source: "Informe sobre bancos", BCRA, as of September 2020. Striped periods not adjusted by inflation.

SystemPrivate Banks

5.7%

2Q20

2Q20

BBVASystemPrivate Banks

3Q20

355%

3Q20

Payroll Acquisition

New clients, increasing payroll market share, sight deposits and cross-sell opportunities

MORE payroll customers

INCREASING payroll share

In thousands

2Q19

1Q20

2Q20

Source: Ministerio de Trabajo de la República Argentina; SIPA, as of June 2020. Last quarterly available information..

2Q19

1Q20

2Q20

05

Appendix

Responsible Banking and Sustainability 2019

"In 2019, BBVA Argentina joined the UN Principles of Responsible Banking and signed the Sustainable Finance Protocol. Both initiatives seek to foster a sustainable banking system, fair and accountable towards the community, and are meant to help fulfill the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change."

María Isabel Goiri Lartitegui Chairman BBVA

BBVA ARGENTINA WAS THE FIRST PRIVATE BANK TO LAUNCH A NEW LINE OF PERSONAL LOANS CALLED "ECO-LOANS" FOR

$12.2 million

INVESTED IN ENVIRONMENTAL MANAGEMENT

INVESTED IN SOCIAL PROGRAMS

+$25 million

OF OUR SELF-SERVICE TERMINALS SUPPORT ENVELOPE-FREE TRANSACTIONS

100%

THE PURCHASE OF SUSTAINABLE GOODS THAT CONTRIBUTE TO CARE FOR THE ENVIRONMENT AND SUPPORT SDG 7.

The Best Team

>BBVA Volunteers

6,223 employees

47% Women 53% Men

0

Discrimination cases detected

Global Volunteering Week at BBVA +730 employees 325 activities to contribute to the SDG Solidarity Project Contest $650,000 in prizes 21 dreams 4,800 direct beneficiaries

HIGHLIGHTS

OF THE GLOBAL ECO-EFFICIENCY PLAN

40% consumption per capitadecline in YoY paper87.7%of customers with product bundles are enrolled in e-statements

36.6% consumption per capita

decline in year-on-year water82.5%

of VISA customers are enrolled in e-statements

2019

11.9% per capita

reduction of CO2 emissions

92.9% of MasterCard customers areenrolled in e-statements

> The Bank strived to achieve the goal of eliminating plastic from its buildings

Figures correspond to Bank only.

Donations, Human Capital & Sustainability

AR$10 million

Seamos Uno

Initiative involving religious, social and business institutions working closely with the Argentine government to help 4 million people during the pandemic, with food boxes and hygiene products.

AR$10 millionAR$1 million

Argentina nos necesita

Initiative that aims to strengthen the capacity of the Argentine public and private health service systems in order to better respond to the Covid-19 pandemic, in coordination with the Argentine Ministry of Health.

Tu donación vale el doble

Voluntary initiative with the Red

Cross, in which more than $500,000 were collected, reaching more than $1 million when added to the funds doubled by the Bank.

More than 90% of employees at central offices are working remotely. All branches remain open and operational, and many are working up to 100% capacity due to high demand in appointments.

#StayAtHome

#YoMeQuedoEnCasa

The Bank joined this campaign promoting the use of digital media channels to make clients aware of the benefits of operating in an agile and self-serviced way without moving from their homes

1st Sustainable Loan

BBVA Argentina granted the first sustainable loan under the Sustainable Transactional Banking framework, connected to the UN Sustainable Development Goals

Latest sustainable iniciatives

Certification of green credit line

The Bank certified a green credit line of $290 million to the Unión Transitoria de Empresas, to be allocated in the sanitation treatment project at Cuenca del Rio La Matanza - Riachuelo. (July 2020)

Eco-efficiency plan

The Bank has signed a 5 year contract with Central Puerto for the purchase of renewable energy of wind-power origin. As of August 1, 2020, the Reconquista 199 building will be supplying an average of 80% of its energy requirements through a non-polluting source. (2016-2020 Plan)

Credit lines

Línea Verde

Green credit lines for SMEs are available for social purposes and sustainable investments, at a 35% rate with a 4 year duration. (October 2020)

Equity Ownership 3Q20

6.93%

Free Float 26.52%

*Includes 0.07% in LATIBEX

ANSESByMA*NYSE

**Administración Nacional de la Seguridad Social or National Social Security Agency. Replacement of the pension and retirement fund system: in 2008 all resources formerly managed by the private pension and retirement system, including meaningful holdings in public companies were transferred o the Sustainability Guarantee Fund (Fondo de Garantía de Sustentabilidad)

1 As of October 1st, 2019, the merger between BBVA Argentina S.A. and BBVA Francés Valores S.A. was put into effect (merger by absorption process)

SUBSIDIARIES AND EQUITY PARTICIPATIONS

BBVA Asset Management Argentina 100%

BBVA Francés Valores1 96.99%

PSA Finance* 50%Volkswagen Financial Services2 51%

Consolidar AFJP(undergoing liquidation proceedings)

53.89%

Rombo Compañía Financiera 40%

BBVA Seguros 12.22%Interbanking 11.11%Play Digital S.A.

25%

SubsidiariesJVsAssociates

As of October 9th, 50.441 shares have been issued related to the merger by absorption with BBVA Francés Valores S.A., totaling 612,710,079 shares. As of the release of these consolidated financial statements, the increase in capital and the merger by absoprtion are pending registry approval by the I.G.J.

2 As of July 1st 2019 the Bank reports the activity of PSA and VWFS on a consolidated basis with BBVA Argentina, the same as it has been done with BBVA Asset Management Argentina S.A.

BBVA Argentina Outstanding Corporate Bond Debt as of 3Q20

BADLAR- Private Banks rate : interest rate for fixed term deposits over 1 million pesos with a maturity of 30-to-35 days. UVA rate: unit measure that is daily adjusted to the CER index, according to the consumer price index.

JVs corporate bonds not included.

Dividends

Year

Net Income (millions AR$)

Dividends (millions AR$)

Total shares (millions)

Dividends per share (AR$)

Dividends per ADS (AR$)

Payout Ratio

Payment date

2019

31,352

14,500

612.7

4.08

12.24

46%

To be confirmed*

2018

9,705

2,407

612.7

3.93

11.79

25%

05/16/2019

2017

3,878

970

612.7

1.58

4.75

25%

05/09/2018

2016

3,644

911

612.7

1.49

4.46

25%

08/10/2017

2015

3,785

900

536.9

1.68

5.03

24%

07/24/2016

2014

3,204

400

536.9

0.75

2.24

12%

03/18/2016

2013

2,024

29

536.9

0.05

0.16

1%

07/08/2014

2012

1,264

-

536.9

-

-

-

-

*The distribution is subject to BCRA prior authorization, which has not been granted yet. According to Communication "A" 6939 and 7035, the distribution of financial institutions' results is suspended until December 31, 2020. Dividends correspond to $2.5 billion approved in May 15, 2020 and $12.0 billion approved in November, 20, 2020.

BBVA Argentina P&L Breakdown

Income Statement

BBVA ARG Consolidated

Chg (%)

In millions AR$ except EPS and ADS - Inflation adjusted

3Q20

2Q20

3Q19

QoQ

YoY

Net Interest Income

16,652

17,092

22,384

(2.6%)

(25.6%)

Net Fee Income

3,005

3,347

2,247

(10.2%)

33.7%

Net income from measurement of financial instruments at fair value through P&L

886

1,359

2,339

(34.8%)

(62.1%)

Net lincome from write-down of assets at amortized cost and at fair value through OCI

(3,988)

(2,225)

5

(79.3%)

n.m

Foreign exchange and gold gains

1,618

1,609

5,385

0.5%

(70.0%)

Other operating income

1,500

1,230

1,563

22.0%

(4.0%)

Loan loss allowances

(927)

(2,848)

(6,936)

67.4%

86.6%

Net operating income

18,744

19,562

26,986

(4.2%)

(30.5%)

Personnel benefits

(4,583)

(4,269)

(5,249)

(7.3%)

12.7%

Adminsitrative expenses

(4,360)

(4,125)

(4,924)

(5.7%)

11.5%

Depreciation and amortization

(838)

(907)

(1,064)

7.7%

21.3%

Other operating expenses

(2,706)

(3,048)

(5,028)

11.2%

46.2%

Operating income

6,257

7,213

10,721

(13.2%)

(41.6%)

Income from associates

(14)

202

(48)

(106.8%)

71.2%

Income from net monetary position

(2,242)

(2,459)

(1,406)

8.9%

(59.4%)

Net income before income tax

4,002

4,955

9,267

(19.2%)

(56.8%)

Income tax

(1,169)

(2,202)

(1,082)

46.9%

(8.0%)

Income for the period

2,833

2,753

8,185

2.9%

(65.4%)

Proforma 3Q20(4)

15,963

3,026

886

(3,988)

1,629 1,530 (895)

18,150 (4,518) (4,283)

(828) (2,579) 5,943

(9)

(1,985) 3,949 (1,102) 2,847

Other Comprehensive Income (OCI)(5)

1,641

2,074

(7,044)

58.4%

141.4%

1,641

Number of common shares outstanding (in thousands)

612,710

612,710

612,660

-

0.0%

Weighted average number of common shares outstanding (2)(3)

612,710

612,710

612,660

-

N/A

612,710

612,710

Earnings per Share (EPS)

4.63

4.41

12.65

4.9%

(63.4%)

Earnings per ADS (1)

13.88

13.23

37.94

4.9%

(63.4%)

4.63

13.88

  • (1) One ADS represents three ordinary shares

  • (2) In thousands of shares

  • (3) As of October 9th, 2019, 50.441 shares have been issued related to the merger by absorption with BBVA Francés Valores S.A., totaling 612,710,079 shares. As of the release of these consolidated financial statements, the increase in capital and the merger by absoprtion are pending registry approval by the I.G.J.

  • (4) Excludes consolidation with VWFS y PSA.

  • (5) Net of Income Tax

BBVA Argentina Balance Sheet

Balance Sheet

BBVA ARG Consolidated

Chg (%)

In millions AR$ - Inflation adjusted

3Q20

2Q20

3Q19

QoQ

YoY

Assets

Cash and deposits in banks

133,178

121,139

128,736

9.9%

3.5%

Cash

39,357

54,332

38,608

(27.6%)

1.9%

Financial institutions and correspondents

93,821

66,807

90,128

40.4%

4.1%

B.C.R.A

89,619

62,348

80,830

43.7%

10.9%

Other local and foreign financial institutions

4,202

4,459

9,299

(5.8%)

(54.8%)

Debt securities at fair value through profit or loss

6,038

10,502

7,074

(42.5%)

(14.7%)

Derivatives

1,411

1,138

3,563

24.0%

(60.4%)

Repo transactions

18,999

36,890

9,106

(48.5%)

108.6%

Other financial assets

12,427

6,865

11,197

81.0%

11.0%

Loans and other financing

250,920

261,845

281,088

(4.2%)

(10.7%)

Non-financial public sector

0

0

1

134.5%

(40.5%)

B.C.R.A

-

-

-

N/A

N/A

Other financial institutions

2,948

3,786

5,873

(22.1%)

(49.8%)

Non-financial private sector and residents abroad

247,971

258,058

275,215

(3.9%)

(9.9%)

Other debt securities

105,815

87,740

86,673

20.6%

22.1%

Financial assets pledged as collateral

14,539

11,572

11,342

25.6%

28.2%

Current income tax assets

5

10

1

(47.5%)

n.m

Investments in equity instruments

1,764

1,943

2,562

(9.2%)

(31.1%)

Investments in subsidiaries and associates

1,323

1,323

442

0.0%

199.5%

Property and equipment

30,143

30,434

34,434

(1.0%)

(12.5%)

Intangible assets

1,295

1,149

1,085

12.7%

19.4%

Deferred income tax assets

5,732

5,685

2,121

0.8%

170.2%

Other non-financial assets

6,043

5,137

3,675

17.6%

64.5%

Non-current assets held for sale

203

203

203

-

(0.0%)

Total Assets

589,836

583,575

583,301

1.1%

1.1%

(1) Excludes consolidation with PSA and VWFS.

133,017 39,357 93,660 89,571 4,088

6,038

1,411

18,999

12,357

240,140 0 - 6,398 233,742

105,815

14,538

5

1,764

3,368

30,101

1,294

5,284

5,928

203 580,262

BBVA Argentina Balance Sheet

Balance Sheet

BBVA ARG Consolidated

Chg (%)

In millions AR$ - Inflation adjusted

3Q20

2Q20

3Q19

QoQ

YoY

Liabilities

Deposits

399,607

401,833

375,088

(0.6%)

6.5%

Non-financial public sector

5,929

5,882

3,610

0.8%

64.2%

Financial sector

550

323

510

70.4%

7.8%

Non-financial private sector and residents abroad

393,128

395,629

370,968

(0.6%)

6.0%

Liabilities at fair value through profit or loss

-

-

59

N/A

(100.0%)

Derivatives

36

247

5,994

(85.5%)

(99.4%)

Other financial liabilities

38,630

30,424

43,185

27.0%

(10.5%)

Financing received from the B.C.R.A. and other financial institutions

3,357

5,489

13,759

(38.8%)

(75.6%)

Corporate bonds issued

4,101

4,525

11,935

(9.4%)

(65.6%)

Current income tax liabilities

2,878

3,486

7,159

(17.4%)

(59.8%)

Provisions

10,481

11,842

11,441

(11.5%)

(8.4%)

Deferred income tax liabilities

18

5

2

288.1%

n.m

Other non-financial liabilities

24,038

23,508

20,843

2.3%

15.3%

Total Liabilities

483,145

481,358

489,465

0.4%

(1.3%)

Equity

Share Capital

613

613

613

-

0.0%

Non-capitalized contributions

23,702

23,702

23,690

(0.0%)

0.0%

Capital adjustments

16,682

16,682

16,682

(0.0%)

0.0%

Reserves

88,759

88,759

53,613

(0.0%)

65.6%

Retained earnings

(29,038)

(29,038)

(16,435)

0.0%

(76.7%)

Other accumulated comprehensive income

(5,070)

(6,710)

(10,211)

24.5%

50.4%

Income for the period

9,029

6,194

22,492

45.8%

(59.9%)

Equity attributable to owners of the Parent

104,677

100,202

90,444

4.5%

15.7%

Equity attributable to non-controlling interests

2,014

2,015

3,392

(0.1%)

(40.6%)

Total Equity

106,691

102,217

93,836

4.4%

13.7%

Total Liabilities and Equity

589,836

583,575*

583,301

1.1%

1.1%

(1) Excludes consolidation with PSA and VWFS.

398,147 5,929 610 391,608 -

36

38,075

580

2,026

2,782

10,435

18

23,464 475,562

613

23,702

16,682

88,759

(29,038)

(5,070)

9,029 104,677 22 104,699 580,262

Investor Relations Contactinvestorelations-arg@bbva.comwww.ir.bbva.com.ar

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Banco BBVA Argentina SA published this content on 02 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2020 13:08:04 UTC