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    BBAR   ARP125991090

BANCO BBVA ARGENTINA S.A.

(BBAR)
  Report
End-of-day quote Buenos Aires Stock Exchange  -  2022-11-27
353.00 ARS   +2.89%
11/23Transcript : Banco BBVA Argentina S.A., Q3 2022 Earnings Call, Nov 23, 2022
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11/22Banco Bbva : Q3 Earnings Snapshot
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11/18Banco BBVA Argentina S.A. Announces Dividend, Payable on December 6, 2022
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Banco BBVA Argentina S A : announces Second Quarter 2022 results - Form 6-K

08/23/2022 | 04:38pm EST

Banco BBVA Argentina S.A. announces Second Quarter 2022 results

Buenos Aires, August 23, 2022 - Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) ("BBVA Argentina" or "BBVA" or "the Bank") announced today its consolidated results for the second quarter (2Q22), ended on June 30, 2022.

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 2021 and 2022 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to June 30, 2022.

2Q22 Highlights

· BBVA Argentina's inflation adjusted net income in 2Q22 was $15.9 billion, 235.8% higher than the $4.7 billion reported on the first quarter of 2022 (1Q22), and 34.2% higher than the $11.8 billion reported on the second quarter of 2021 (2Q21). In the first six months of 2022, the accumulated net income was $20.6 billion, 19.6% above the $17.2 billion recorded in the first six months of 2021.
· In 2Q22, BBVA Argentina posted an inflation adjusted average return on assets (ROAA) of 4.6% and an inflation adjusted average return on equity (ROAE) of 28.3%. The six month accumulated ROAA reached 3.0% while the six month accumulated ROAE was 18.9%.
· Operating income in 2Q22 was $32.0 billion, 10.2% above the $29.0 billion recorded in 1Q22 and 51.9% over the $21.1 billion recorded in 2Q21.
· In terms of activity, total consolidated financing to the private sector in 2Q22 totaled $519.3 billion, increasing 7.1% in real terms compared to 1Q22, and falling 1.0% compared to 2Q21. In the quarter, the increase was mainly driven by growth in credit cards, other loans, prefinancing and financing of exports and in overdrafts by 5.3%, 10.7%, 41.5% and 21.2% respectively. BBVA's consolidated market share of private sector loans reached 8.35% as of 2Q22.
· Total consolidated deposits in 2Q22 totaled $974.1 billion, increasing 4.2% in real terms during the quarter, and falling 2.5% in the year. Quarterly increase was mainly explained by sight deposits, which grew 4.4%. The Bank's consolidated market share of private deposits reached 7.15% as of 2Q22.
· As of 2Q22, the non-performing loan ratio (NPL) reached 1.08%, with a 219.39% coverage ratio.
· The accumulated efficiency ratio in 2Q22 was 71.3%, below 1Q22's 72.2%, and 2Q21's 70.1%.
· As of 2Q22, BBVA Argentina reached a regulatory capital ratio of 22.9%, entailing a $124.7 billion or 180.1% excess over minimum regulatory requirement. Tier I ratio was 22.7%.
· Total liquid assets represented 76.9% of the Bank's total deposits as of 2Q22.

Message from the CFO

"In a less favourable global context, facing the difficulties of correcting macroeconomic distortions and meeting the established objectives in the loan agreement reached in March 2022 with the International Monetary Fund, market volatility has significantly increased, especially in the FX markets and local currency debt markets. A high uncertainty persists about the future development of economic policy. According to BBVA Research, inflation, which reached 46.2% accumulated as of July 2022, will probably be higher in the future, and GDP will grow around 2.5% in 2022 (below previous estimates of 3.5%).

1

Regarding 2Q22, inflation rate reached 17.3%, versus 16.1% in 1Q22. During 2Q22, private loans in pesos of the system grew 19%, while that of BBVA Argentina increased 23%1, achieving a positive real growth and, in total currency, growing 46 bps its consolidated market share.

Concerning BBVA Argentina's quarterly performance, outstanding behavior in net interest income and fee income definitely contributed to an improvement of 10.2% in operating income.

As of June 2022, BBVA Argentina reached an NPL ratio of 1.08%, very well below the last available system NPL (May 2022) of 3.4%. Concerning liquidity and solvency indicators, the Bank ends the quarter with 76.7% and 22.9% respectively, levels which undoubtedly allow to address business growth in the case of an economic recovery.

As of the date of this report, BBVA Argentina has distributed dividends by $8.8 billion (instalments 1 to 8) according to the established schedule published on June 16, 2022.

With respect to digitalization, our service offering has evolved in such way that by the end of June 2022, digital client penetration reached 62% keeping stable versus a year back, while that of mobile clients reached 54% from 52% in the same period. The response on the side of customers has been satisfactory, and we are convinced this is the path to pursue, in the aim of sustaining and expanding our competitive position in the financial system. In the quarter, new client acquisition through digital channels over traditional ones was 66%, while in 2Q21 it was 70%.

BBVA Argentina has a corporate responsibility with society, inherent to the Bank's business model, which bolsters inclusion, financial education and supports scientific research and culture. The Bank works with the highest integrity, long-term vision and best practices, and is present through the BBVA Group in the main sustainability indexes.

Lastly, the Bank actively monitors its business, financial conditions and operating results, in the aim of keeping a competitive position to face contextual challenges."

Ernesto R. Gallardo, CFO at BBVA Argentina

2Q22 Conference Call

Tuesday, August 24 - 12:00 p.m. Buenos Aires time (11:00 a.m. EST)

To participate please dial-in:

+ 54-11-3984-5677 (Argentina)

+ 1-844-450-3851 (United States)

+ 1-412-317-6373 (International)

Web Phone: click here

Código de la conferencia: BBVA

Webcast & Replay: click here

1Source: BCRA siscen base information as of June 30, 2022. Capital balances as of the last day of each period, in nominal terms.

2

Safe Harbor 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 exception of the exclusion of the application of the IFRS 9 impairment model for non-financial public sector debt instruments.

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 2021 and 2022 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to June 30, 2022.

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, PSA Finance Argentina Compañía Financiera S.A. ("PSA") and Volkswagen Financial Services Compañía Financiera S.A ("VWFS").

BBVA Seguros Argentina 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., Openpay Argentina 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 C", considering the model established by the IFRS 9 5.5. "Impairment" section for periods starting as of January 1, 2022, excluding debt instruments from the non-financial public sector.

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

3

Quarterly Results

INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Net Interest Income 54,310 46,016 39,858 18.0% 36.3%
Net Fee Income 10,306 7,783 8,902 32.4% 15.8%
Net income from measurement of financial instruments at fair value through P&L 1,343 4,793 2,054 (72.0%) (34.6%)
Net income from write-down of assets at amortized cost and at fair value through OCI 567 (40) (27) n.m n.m
Foreign exchange and gold gains 1,557 2,007 1,937 (22.4%) (19.6%)
Other operating income 3,317 3,958 2,971 (16.2%) 11.6%
Loan loss allowances (2,455) (2,661) (3,486) 7.7% 29.6%
Net operating income 68,945 61,856 52,209 11.5% 32.1%
Personnel benefits (12,707) (10,633) (10,428) (19.5%) (21.9%)
Adminsitrative expenses (12,260) (11,161) (9,639) (9.8%) (27.2%)
Depreciation and amortization (1,721) (1,918) (1,948) 10.3% 11.7%
Other operating expenses (10,254) (9,097) (9,123) (12.7%) (12.4%)
Operarting expenses (36,942) (32,809) (31,138) (12.6%) (18.6%)
Operating income 32,003 29,047 21,071 10.2% 51.9%
Income from associates 218 (313) 285 169.6% (23.5%)
Income from net monetary position (23,788) (21,970) (14,322) (8.3%) (66.1%)
Net income before income tax 8,433 6,764 7,034 24.7% 19.9%
Income tax 7,455 (2,033) 4,806 466.7% 55.1%
Net income for the period 15,888 4,731 11,840 235.8% 34.2%
Owners of the parent 16,014 4,911 11,838 226.1% 35.3%
Non-controlling interests (126) (180) 2 30.0% n.m
Other comprehensive Income (OCI) (1) (9,650) 1,554 169 n.m n.m
Total comprehensive income 6,238 6,285 12,009 (0.7%) (48.1%)
(1) Net of Income Tax.

BBVA Argentina 2Q22 net income was $15.8 billion, increasing 235.8% or $11.2 billion quarter-over-quarter (QoQ) and 34.2% or $4.0 million year-over-year (YoY). This implied a quarterly ROAE of 28.3% and a quarterly ROAA of 4.6%.

Quarterly operating results are mainly explained by (i) greater interest income and (ii) a better net fee income (iii) lower operating expenses. This allowed net operating income to increase above operating expenses.

These effects were partially offset by a fall in net income from measurement of financial instruments at FV through P&L, which includes the sale of the remaining participation of the Bank in Prisma in 1Q22.

Net income for the period was improved by a benefit in the income tax line, as a result of the implications of tax deferrals.

4
EARNINGS PER SHARE BBVA ARGENTINA CONSOLIDATED
∆ %
2Q22 1Q22 2Q21 QoQ YoY
Financial Statement information
Net income for the period attributable to owners of the parent (in AR$ millions, inflation adjusted) 16,014 4,911 11,838 226.1% 35.3%
Total shares outstanding (1) 612,710 612,710 612,710 - -
Market information
Closing price of ordinary share at BYMA (in AR$) 201.0 225.0 184.4 (10.7%) 9.0%
Closing price of ADS at NYSE (in USD) 2.4 3.5 3.3 (32.5%) (26.5%)
Book value per share (in AR$) 381.84 371.70 355.69 2.7% 7.4%
Price-to-book ratio (BYMA price) (%) 0.53 0.61 0.52 (13.0%) 1.6%
Earnings per share (in AR$) 26.14 8.02 19.32 226.1% 35.3%
Earnings per ADS(2) (in AR$) 78.41 24.05 57.96 226.1% 35.3%
(1) In thousands of shares.
(2) Each ADS accounts for 3 ordinary shares
5

Net Interest Income

NET INTEREST INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Net Interest Income 54,310 46,016 39,858 18.0% 36.3%
Interest Income 99,622 80,961 71,610 23.0% 39.1%
From government securities 41,868 28,369 18,062 47.6% 131.8%
From private securities 123 112 44 9.8% 179.5%
Interest from loans and other financing 34,887 31,861 29,195 9.5% 19.5%
Financial Sector 504 417 220 20.9% 129.1%
Overdrafts 4,147 2,791 2,546 48.6% 62.9%
Discounted Instruments 5,449 5,326 4,737 2.3% 15.0%
Mortgage loans 441 495 613 (10.9%) (28.1%)
Pledge loans 1,838 1,735 1,901 5.9% (3.3%)
Consumer Loans 5,365 5,160 4,884 4.0% 9.8%
Credit Cards 9,503 9,459 7,570 0.5% 25.5%
Financial leases 260 301 322 (13.6%) (19.3%)
Loans for the prefinancing and financing of exports 134 151 397 (11.3%) (66.2%)
Other loans 7,246 6,026 6,005 20.2% 20.7%
Premiums on reverse REPO transactions 1,176 8,692 11,929 (86.5%) (90.1%)
CER/UVA clause adjustment 21,468 11,825 12,380 81.5% 73.4%
Other interest income 100 102 - (2.0%) N/A
Interest expenses 45,312 34,945 31,752 29.7% 42.7%
Deposits 39,030 31,805 28,381 22.7% 37.5%
Checking accounts 7,361 6,107 4,707 20.5% 56.4%
Savings accounts 288 184 196 56.5% 46.9%
Time deposits and Investment accounts 31,381 25,514 23,478 23.0% 33.7%
Other liabilities from financial transactions 117 121 373 (3.3%) (68.6%)
Interfinancial loans received 1,504 1,032 1,020 45.7% 47.5%
Premiums on REPO transactions - 2 - (100.0%) N/A
CER/UVA clause adjustment 4,660 1,985 1,973 134.8% 136.2%
Other interest expense 1 - 5 N/A (80.0%)

Net interest income for 2Q22 was $54.3 billion, increasing 18.0% or $8.9 billion QoQ, and 36.3% or $14.5 billion YoY. In 2Q22, interest income, in monetary terms, increased more than interest expense, mainly due to (i) higher income from government securities, (ii) increases in income from CER/UVA clause adjustments and (iii) an increase in income from interests from overdrafts and oher loans. Items (i) and (ii) take place in a context of increasing interest rates, derived from sequential increases in the monetary policy rate by the BCRA2, as well as an increase in the inflation rate3, and justified by a change in regulation issued at the beginning of 2022 (Com. "A" 7432) which allowed financial institutions to increase their BCRA liquidity bills (LELIQ) position.

In 2Q22, interest income totaled $99.6 billion, increasing 23.0% compared to 1Q22 and 39.1% compared to 2Q21. Quarterly increase is mainly driven by (i) higher income from government securities, both from an increase in the nominal rate and the volume in the position of LELIQ; and (ii) an increase in CER/UVA clause adjustments, especially from government securities linked to such indexes, which position has increased during the quarter. Income from overdrafts and other loans also stand out, mainly because of the adjustment of increasing rates and an increase in activity. All this was offset by lower income on premiums on reverse REPO transactions (seven-day REPOs), considering such instruments were gradually removed from the market by the Central Bank.

2 For further details on the gradual increase in interest rates refer to the Main Regulatory Changes section.

3 From 16.1% in 1Q22 to 17.3% in 2Q22. Source: Instituto Nacional de Estadística y Censos (INDEC).

6

Income from government securities increased 47.6% compared to 1Q22, and 131.8% compared to 2Q21. This is partially due to the higher position in LELIQ, continuing with the progressive swap from REPOs towards these securities, added to the gradual increase of the monetary policy rate, which was at 44.5% (nominal annual terms) at the beginning of the quarter and ended at 52.0%. 93% of these results are explained by government securities at fair value through OCI, of which 73% are BCRA securities, and 4% are securities at amortized cost (2022 and 2027 National Treasury Bonds at fixed rate, used for reserve requirement integration).

Interest income from loans and other financing totaled $34.9 billion, increasing 9.5% QoQ and 19.5% YoY. Quarterly growth is mainly due to an increase in overdrafts by 20.9% and in other loans by 20.2%, the latter boosted by floorplan loans from consolidated companies.

Income from CER/UVA adjustments increased 81.5% QoQ and 73.4% YoY. Quarterly growth was driven by a higher yield and a greater position in CER-linked securities, taking into consideration that quarterly inflation reached 17.3% versus 16.1% the previous quarter. 73% of income from interests from CER/UVA clause adjustments is explained by interests generated by bonds linked to such indexes.

Interest expenses totaled $45.3 billion, denoting a 29.7% increase QoQ and a 42.7% increase YoY. Quarterly increase is described by higher time deposit and checking account expenses, together with higher CER/UVA adjustment expenses.

Interests from time deposits (including investment accounts) explain 69.3% of interest expenses, versus 73.0% the previous quarter. These increased 23.0% QoQ and 33.7% YoY.

7

NIM

As of 2Q22, net interest margin (NIM) was 22.1%, above the 19.2% reported in 1Q22. In 2Q22, NIM in pesos was 23.2% and 2.1% in U.S. dollars.

ASSETS & LIABILITIES PERFORMANCE - TOTAL BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %
2Q22 1Q22 2Q21
Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets 987,483 99,620 40.5% 969,983 80,962 33.9% 915,495 71,610 31.4%
Debt securities 495,815 58,737 47.5% 480,489 44,897 37.9% 393,537 36,748 37.5%
Loans to customers/financial institutions 477,860 40,881 34.3% 476,521 36,061 30.7% 508,082 34,843 27.5%
Loans to the BCRA 1 2 802.2% - 2 - - - -
Other assets 13,807 - 0.0% 12,974 1 0.0% 13,876 18 0.5%
Total non interest-earning assets 359,460 - 0.0% 381,616 - 0.0% 403,713 - 0.0%
Total Assets 1,346,943 99,620 29.7% 1,351,599 80,962 24.3% 1,319,208 71,610 21.8%
Total interest-bearing liabilities 702,824 45,310 25.9% 704,854 34,945 20.1% 700,202 31,752 18.2%
Sight deposits 258,881 288 0.4% 283,069 184 0.3% 367,642 4,901 5.3%
Time deposits and investment accounts 334,140 36,040 43.3% 316,579 27,498 35.2% 315,560 26,113 33.2%
Debt securities issued 253 84 133.2% 433 75 70.3% 1,605 174 43.4%
Other liabilities 109,550 8,898 32.6% 104,773 7,188 27.8% 15,395 564 14.7%
Total non-interest-bearing liabilities 644,118 - 0.0% 646,745 - 0.0% 619,006 - 0.0%
Total liabilities and equity 1,346,942 45,310 13.5% 1,351,599 34,945 10.5% 1,319,208 31,752 9.7%
NIM - Total 22.1% 19.2% 17.5%
Spread - Total 14.6% 13.7% 13.2%
Nominal rates are calculated over a 365-day year
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI
Sight deposits include savings accounts and interest-bearing checking accounts. Non interest-bearing accounts are included in non-interest-bearing liabilities.
ASSETS & LIABILITIES PERFORMANCE - AR$ BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %
2Q22 1Q22 2Q21
Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets 946,970 99,389 42.6% 933,148 80,706 34.3% 838,113 70,883 34.3%
Debt securities 492,031 58,732 48.4% 477,079 44,895 37.3% 393,537 36,748 37.9%
Loans to customers/financial institutions 446,324 40,655 36.9% 448,628 35,809 31.7% 440,237 34,118 31.4%
Loans to the BCRA - 2 - - 2 - - - -
Other assets 8,615 - 0.0% 7,442 - 0.0% 4,339 16 1.5%
Total non interest-earning assets 180,416 - 0.0% 190,810 - 0.0% 193,757 - 0.0%
Total Assets 1,127,386 99,389 35.8% 1,123,959 80,706 28.5% 1,031,870 70,883 27.9%
Total interest-bearing liabilities 557,514 45,292 32.9% 549,423 34,917 25.2% 498,582 31,631 25.7%
Savings accounts 133,275 286 0.9% 149,109 182 0.5% 200,164 4,898 9.9%
Time deposits 315,052 36,031 46.4% 296,328 27,489 36.8% 286,938 26,093 36.9%
Debt securities issued 253 84 134.7% 433 75 68.8% 1,605 174 43.9%
Other liabilities 108,934 8,891 33.1% 103,553 7,172 27.5% 9,875 466 19.1%
Total non-interest-bearing liabilities 571,560 - 0.0% 572,449 - 0.0% 533,296 - 0.0%
Total liabilities and equity 1,129,074 45,292 16.3% 1,121,872 34,917 12.3% 1,031,878 31,631 12.4%
NIM - AR$ 23.2% 19.5% 19.0%
Spread - AR$ 9.6% 9.1% 8.6%
Nominal rates are calculated over a 365-day year
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI
Sight deposits include savings accounts and interest-bearing checking accounts. Non interest-bearing accounts are included in non-interest-bearing liabilities.
8
ASSETS & LIABILITIES PERFORMANCE - FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %
2Q22 1Q22 2Q21

Average

Balance

Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets 40,513 231 2.3% 36,835 256 2.8% 77,382 726 3.8%
Debt securities 3,784 5 0.5% 3,410 2 0.3% - - #DIV/0!
Loans to customers/financial institutions 31,536 226 2.9% 27,893 252 3.6% 67,844 725 4.3%
Loans to the BCRA 1 - 0.0% - - #DIV/0! - - #DIV/0!
Other assets 5,192 - 0.0% 5,532 1 0.1% 9,537 2 0.1%
Total non interest-earning assets 179,044 - 0.0% 190,806 - 0.0% 209,957 - 0.0%
Total Assets 219,557 231 0.4% 227,641 256 0.4% 287,338 726 1.0%
Total interest-bearing liabilities 145,310 18 0.1% 155,431 28 0.1% 201,620 121 0.2%
Savings accounts 125,606 2 0.0% 133,960 2 0.0% 167,479 3 0.0%
Time deposits and Investment accounts 19,088 9 0.2% 20,251 9 0.2% 28,622 20 0.3%
Other liabilities 616 7 4.6% 1,220 16 5.3% 5,520 98 7.2%
Total non-interest-bearing liabilities 72,558 - 0.0% 74,297 - 0.0% 85,710 - 0.0%
Total liabilities and equity 217,868 18 0.0% 229,728 28 0.0% 287,330 121 0.2%
NIM - Foreign currency 2.1% 2.5% 3.2%
Spread - Foreign currency 2.3% 2.7% 3.6%
Nominal rates are calculated over a 365-day year
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI
Sight deposits include savings accounts and interest-bearing checking accounts. Non interest-bearing accounts are included in non-interest-bearing liabilities.

Net Fee Income

NET FEE INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Net Fee Income 10,306 7,783 8,902 32.4% 15.8%
Fee Income 14,393 15,196 15,639 (5.3%) (8.0%)
Linked to liabilities 5,604 6,252 5,545 (10.4%) 1.1%
From credit cards 5,062 5,097 7,312 (0.7%) (30.8%)
BBVA Points 1,195 1,267 269 (5.7%) 344.2%
Linked to loans 1,138 1,166 909 (2.4%) 25.2%
From insurance 612 657 689 (6.8%) (11.2%)
From foreign trade and foreign currency transactions 633 602 733 5.1% (13.6%)
Other fee income 149 155 182 (3.9%) (18.1%)
Fee expenses 4,087 7,413 6,737 (44.9%) (39.3%)

Net fee income as of 2Q22 totaled $10.3 billion, increasing 32.4% or $2.5 billion QoQ and increasing 15.8% or $1.4 billion YoY.

In 2Q22, fee income totaled $14.4 billion, falling 5.3% QoQ and 8.0% YoY. The quarterly fall is mainly explained by a decline in fees linked to liabilities, especially due to the lag in increases in prices of account and packaged accounts' maintenance, which last increment took place the previous quarter.

Regarding fee expenses, these totaled $4.1 billion, contracting 44.9% QoQ and 39.3% YoY. Lower expenses in the quarter are partially explained by the migration of clients from the Latam benefit program into the Puntos BBVA program (given the former's partnership end in February 2022), and lower expenditures linked to credit and debit cards.

9

Net Income from Measurement of Financial Instruments at Fair Value and Foreign Exchange and Gold Gains/Losses

NET INCOME FROM FINANCIAL INSTRUMENTS AT FAIR VALUE (FV) THROUGH P&L BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Net Income from financial instruments at FV through P&L 1,343 4,793 2,054 (72.0%) (34.6%)
Income from write-down or sale of financial assets - 3,068 - (100.0%) N/A
Income from government securities 1,123 816 996 37.6% 12.8%
Income from private securities 187 152 (116) 23.0% 261.2%
Interest rate swaps - (1) 53 100.0% (100.0%)
Gains from foreign currency forward transactions 21 761 1,121 (97.2%) (98.1%)
Income from debt and equity instruments 12 1 - n.m N/A
Other - (4) - 100.0% N/A

In 2Q22, net income from financial instruments at fair value (FV) through P&L was $1.3 billion, decreasing 72.0% or $3.5 billion QoQ and 34.6% or $711 million YoY.

These results are mainly explained by an increase in the income from government securities line item, especially due to the greater position and interest rate generated by the LELIQ portfolio, and a greater CER linked National Treasury bond portfolio.

Nonetheless the result falls, explained by the sale procedure of the Bank's remaining position in Prisma during 1Q22, which had generated a $3.1 billion profit (at current values) in that period.

There is also a decrease in the line gains from foreign currency forward transactions.

DIFFERENCES IN QUOTED PRICES OF GOLD AND FOREIGN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Foreign exchange and gold gains/(losses) (1) 1,557 2,007 1,937 (22.4%) (19.6%)
From foreign exchange position (621) (475) (104) (30.7%) (497.1%)
Income from purchase-sale of foreign currency 2,178 2,482 2,041 (12.2%) 6.7%
Net income from financial instruments at FV through P&L (2) 21 761 1,121 (97.2%) (98.1%)
Income from foreign currency forward transactions 21 761 1,121 (97.2%) (98.1%)
Total differences in quoted prices of gold & foreign currency (1) + (2) 1,578 2,768 3,058 (43.0%) (48.4%)

In 2Q22, the total differences in quoted prices of gold and foreign currency showed profit for $1.6 billion, falling 43.0% or $1.2 billion compared to 1Q22, mainly due to lower results in income from foreign currency forward transactions and a fall in the income from purchase-sale of foreign currency.

10

Other Operating Income

OTHER OPERATING INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Operating Income 3,317 3,958 2,971 (16.2%) 11.6%
Rental of safe deposit boxes (1) 513 604 563 (15.1%) (8.9%)
Adjustments and interest on miscellaneous receivables (1) 1,229 894 878 37.5% 40.0%
Punitive interest (1) 74 67 100 10.4% (26.0%)
Loans recovered 505 465 646 8.6% (21.8%)
Fee income from credit and debit cards (1) 284 299 190 (5.0%) 49.5%
Income from initial recognition of public securities - - (1) N/A 100.0%
Income from sale of assets in equity instruments 74 985 - (92.5%) N/A
Fee expenses recovery 138 159 138 (13.2%) -
Rents 139 53 - 162.3% N/A
Sindicated transaction fees 32 83 26 (61.4%) 23.1%
Other Operating Income(2) 329 349 431 (5.7%) (23.7%)
(1) Included in the efficiency ratio calculation
(2) Includes some of the concepts used in the efficiency ratio calculation

In 2Q22 other operating income totaled $3.3 billion, falling 16.2% or $641 million QoQ, and increasing 11.6% or $346 million YoY. Quarterly decrease is partially explained by a 92.5% fall in the Income from sale of assets in equity instruments line item, as a result from the sale procedures of the remaining stock participation of the Bank in Prisma in 1Q22. Additionally, there has been a 15.1% decrease in the rental of safe deposit boxes line item, especially due to a lag in price increases (as they have been last changed during the previous quarter) and a 37.5% increase in adjustments and interest on miscellaneous receivables.

11

Operating Expenses

Personnel Benefits and Administrative Expenses

PERSONNEL BENEFITS & ADMINISTRATIVE EXPENSES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Total Personnel Benefits and Adminsitrative Expenses 24,967 21,794 20,067 14.6% 24.4%
Personnel Benefits (1) 12,707 10,633 10,428 19.5% 21.9%
Administrative expenses (1) 12,260 11,161 9,639 9.8% 27.2%
Travel expenses 69 49 60 40.8% 15.0%
Outsourced administrative expenses 885 808 754 9.5% 17.4%
Security services 319 330 326 (3.3%) (2.1%)
Fees to Bank Directors and Supervisory Committee 27 15 23 80.0% 17.4%
Other fees 403 412 436 (2.2%) (7.6%)
Insurance 109 126 130 (13.5%) (16.2%)
Rent 2,191 1,828 1,192 19.9% 83.8%
Stationery and supplies - 30 11 (100.0%) (100.0%)
Electricity and communications 421 463 496 (9.1%) (15.1%)
Advertising 602 598 353 0.7% 70.5%
Taxes 2,396 2,474 2,198 (3.2%) 9.0%
Maintenance costs 1,127 1,143 1,154 (1.4%) (2.3%)
Armored transportation services 1,328 1,431 1,348 (7.2%) (1.5%)
Software 1,307 411 160 218.0% n.m
Document distribution 456 412 330 10.7% 38.2%
Commercial reports 205 210 302 (2.4%) (32.1%)
Other administrative expenses 415 421 366 (1.4%) 13.4%
Headcount*
BBVA (Bank) 5,746 5,753 5,828 (7) (82)
Subsidiaries (2) 93 99 96 (6) (3)
Total employees* 5,839 5,852 5,924 (13) (85)
Branches 1,948 1,994 2,145 (46) (197)
Main office 3,891 3,858 3,779 33 112
Total branches** 243 243 243 - -
Efficiency Ratio
Efficiency ratio 70.4% 72.2% 67.9% (180)bps 250 bps
Accumulated Efficiency Ratio 71.3% 72.2% 70.1% (90)bps 120 bps
Efficiency ratio - Excl. Inflation adjustment 43.2% 43.3% 47.1% (10)bps (390)bps
Accumulated Efficiency Ratio - Excl. Inflation adjustment 43.3% 43.3% 48.5% - (520)bps
(1) Concept included in the efficiency ratio calculation
(2) Includes BBVA Asset Management, PSA & VWFS
*corresponds to total effective employees, net of temporary contract employees
**do not include administrative offices. As of 2Q22, 46% owned and 54% rented.

During 2Q22, personnel benefits and administrative expenses totaled $25.0 billion, increasing 14.6% or $3.2 billion compared to 1Q22, and 24.4% or $4.9 billion compared to 2Q21.

12

Personnel benefits grew 19.5% QoQ, and 21.9% YoY. The quarterly increase is partially explained by the collective wage agreement reached with the unions, and its retroactive effect corresponding to 1Q22 which impacted in April (16.1% as of January 1, 34.1% as of April 1, 51.1% as of July 1, and 60% accumulated as of October 1), with review clauses in October and November 2022. Also, during 2Q22, the stock of vacation not taken was revaluated, and variable compensation increased.

As of 2Q22, administrative expenses increased 9.8% QoQ, and 27.2% YoY. The quarterly increase is partially explained by (i) an increase in outsourced administrative expenses, (ii) an increase in rent and (iii) an increase in software expenses.

The negative effect of the aforementioned items was offset by a reduction in the taxes line item, explained by a fall in municipal charges, maintenance and reparation expenses, and in armored transportation given the efficiency plan applied on the latter.

The accumulated efficiency ratio as of 2Q22 was 71.3%, improving compared to the 72.2% reported in 1Q22, and deteriorating versus the 70.1% reported in 2Q21. The quarterly improvement is explained by a higher percentage increase in the denominator (income considering monetary position results) than the numerator (expenses), especially thanks to better net results from fees and interest income.

Excluding inflation adjustments considered in the income from the monetary position line item, the 2Q22 accumulated efficiency ratio would have been 43.3%, remaining stable compared to the 43.3% of 1Q22 and improving compared to the 48.5% of 2Q21.

Other Operating Expenses

OTHER OPERATING EXPENSES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Other Operating Expenses 10,254 9,097 9,123 12.7% 12.4%
Turnover tax 6,353 6,232 5,896 1.9% 7.8%
Initial loss of loans below market rate 880 582 703 51.2% 25.2%
Contribution to the Deposit Guarantee Fund (SEDESA) 364 370 373 (1.6%) (2.4%)
Interest on liabilities from financial lease 109 125 169 (12.8%) (35.5%)
Other allowances 492 724 840 (32.0%) (41.4%)
Other operating expenses 2,056 1,064 1,142 93.2% 80.0%

In 2Q22, other operating expenses totaled $10.3 billion, increasing 12.7% or $1.2 billion QoQ, and 12.4% or $1.1 billion YoY.

The key factor explaining the quarterly growth is in the other operating expenses line item, with an increase of 93.2%, considering the provision for reorganization recorded in the fourth quarter of 2021, and which was adjusted in 2Q22 according to increases in inflation and associated wage agreements with the unions.

The aforementioned expenses are partially offset by the other allowances line item, decreasing 32.0% related to the increase in use of off-balance sheet items.

Income from Associates

This line reflects the results from non-consolidated associate companies. During 2Q22, profit of $218 million has been reported, mainly due to the Bank's participation in BBVA Seguros Argentina S.A., Rombo Compañía Financiera S.A., Interbanking S.A. and Play Digital S.A. and Openpay Argentina S.A.

13

Income Tax

Accumulated income tax during the first six months of 2022 recorded a profit of $5.4 billion.

Regarding 2Q22, income tax expenses show a positive result as a result, affected by the implications of inflation adjustments in the determination of payable taxes and tax deferrals.

Accumulated income tax during the first six months of 2021 recorded a gain of $5.6 billion. As of 2Q21, tax expenses show a positive result of $4.8 billion due to the reversal of the provision connected to the repayment of income tax inflation adjustments for 2017 and 2018 fiscal years, for a total of $4.3 billion (non-adjusted figures), recorded during the first quarter of 2018 and the second quarter of 2019 respectively. The reversal is a result of an assessment, funded on legal and tax advisors' opinions, in which the Bank considers that probabilities of getting a final instance favorable court ruling are higher for those fiscal years.

The accumulated benefit in the income tax line as of 2Q21 includes the positive result obtained in 1Q21 due to the reversal of a provision of $1.2 billion (non-adjusted figures) recorded during the second quarter of 2017 corresponding to 2016 fiscal year, which was funded on a favorable final sentence in court.

14

Balance sheet and activity

Loans and Other Financing

LOANS AND OTHER FINANCING BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
To the public sector 6 5 - 20.0% N/A
To the financial sector 5,611 5,621 4,373 (0.2%) 28.3%
Non-financial private sector and residents abroad 519,257 484,640 524,513 7.1% (1.0%)
Non-financial private sector and residents abroad - AR$ 477,380 455,912 455,670 4.7% 4.8%
Overdrafts 36,858 30,412 19,746 21.2% 86.7%
Discounted instruments 60,496 57,476 54,052 5.3% 11.9%
Mortgage loans 29,301 28,926 33,626 1.3% (12.9%)
Pledge loans 19,812 20,942 22,673 (5.4%) (12.6%)
Consumer loans 53,417 52,889 54,454 1.0% (1.9%)
Credit cards 197,171 189,135 204,969 4.2% (3.8%)
Receivables from financial leases 3,338 3,426 4,195 (2.6%) (20.4%)
Other loans 76,987 72,706 61,955 5.9% 24.3%
Non-financial private sector and residents abroad - Foreign Currency 41,877 28,728 68,843 45.8% (39.2%)
Overdrafts 4 4 3 - 33.3%
Discounted instruments 8 - 4,730 N/A (99.8%)
Credit cards 7,210 5,011 3,382 43.9% 113.2%
Receivables from financial leases - 19 141 (100.0%) (100.0%)
Loans for the prefinancing and financing of exports 22,726 16,057 40,306 41.5% (43.6%)
Other loans 11,929 7,637 20,281 56.2% (41.2%)
% of total loans to Private sector in AR$ 91.9% 94.1% 86.9% (214)bps 506 bps
% of total loans to Private sector in Foreign Currency 8.1% 5.9% 13.1% 214 bps (506)bps
% of mortgage loans with UVA adjustments / Total mortgage loans (1) 1.7% 2.1% 2.3% (40)pbs (63)pbs
% of pledge loans with UVA adjustments / Total pledge loans (1) 3.7% 4.6% 8.4% (93)pbs (469)pbs
% of consumer loans with UVA adjustments / Total consumer loans (1) 1.7% 2.5% 6.8% (86)pbs (519)pbs
% of loans with UVA adjustments / Total loans and other financing(1) 0.4% 0.6% 1.3% (18)pbs (94)pbs
Total loans and other financing 524,874 490,266 528,886 7.1% (0.8%)
Allowances (13,128) (14,226) (25,581) 7.7% 48.7%
Total net loans and other financing 511,746 476,040 503,305 7.5% 1.7%

(1) Excludes effect of accrued interests adjustments.

LOANS AND OTHER FINANCING TO NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD IN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of USD ∆ %
2Q22 1Q22 2Q21 QoQ YoY
FX rate* 125.22 110.97 95.73 12.8% 30.8%
Non-financial private sector and residents abroad - Foreign Currency (USD) 334 221 439 51.5% (23.7%)
*Wholesale U.S. dollar foreign exchange rates on BCRA's Communication "A" 3500, as of the end of period.
15

Private sector loans as of 2Q22 totaled $519.3 billion, increasing 7.1% or $34.6 billion QoQ, and falling 1.0% or $5.3 billion YoY.

Loans to the private sector in pesos increased 4.7% in 2Q22, and 4.8% YoY. During the quarter, growth was especially driven by a 4.2% increase in credit cards (due to greater retail consumption), a 21.2% increase in overdrafts, a 5.9% increase in other loans and a 5.3% increase in discounted instruments. Regarding other loans, these were boosted by commercial loans ("PIV", especially productive investment lines), and concerning overdrafts, these were mainly promoted by corporate banking transactions. These increases were offset by a 5.4% fall in pledge loans.

Loans to the private sector denominated in foreign currency increased 45.8% QoQ and fell 39.2% YoY. Quarterly increase is mainly explained by a 41.5% increase in prefinancing and financing of exports, followed by a 56.2% increase in other loans and a 43.9% increase in credit cards. All the aforementioned are explained by greater activity in foreign currency. Loans to the private sector in foreign currency measured in U.S. dollars increased 51.5% QoQ and fell 23.7% YoY. The depreciation of the argentine peso versus the U.S. dollar was 11.4% QoQ and 23.5% YoY4.

In 2Q22, total loans and other financing totaled $524.9 billion, increasing 7.1% compared to 1Q22 and slightly falling 0.8% compared to 2Q21.

LOANS AND OTHER FINANCING BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Non-financial private sector and residents abroad - Retail 306,911 296,903 319,104 3.4% (3.8%)
Mortgage loans 29,301 28,926 33,626 1.3% (12.9%)
Pledge loans 19,812 20,942 22,673 (5.4%) (12.6%)
Consumer loans 53,417 52,889 54,454 1.0% (1.9%)
Credit cards 204,381 194,146 208,351 5.3% (1.9%)
Non-financial private sector and residents abroad - Commercial 212,346 187,737 205,409 13.1% 3.4%
Overdrafts 36,862 30,416 19,749 21.2% 86.7%
Discounted instruments 60,504 57,476 58,782 5.3% 2.9%
Receivables from financial leases 3,338 3,445 4,336 (3.1%) (23.0%)
Loans for the prefinancing and financing of exports 22,726 16,057 40,306 41.5% (43.6%)
Other loans 88,916 80,343 82,236 10.7% 8.1%
% of total loans to Retail sector 59.1% 61.3% 60.8% (216)bps (173)bps
% of total loans to Commercial sector 40.9% 38.7% 39.2% 216 bps 173 bps

In real terms, retail loans (mortgage, pledge, consumer and credit cards) have increased 3.4% QoQ and decreased 3.8% YoY in real terms. During the quarter, growth is mainly explained by a 5.3% increase in credit cards, followed by a 1.0% increase in consumer loans, the latter explained by marketing actions through different channels, and lines granted to micro-entrepreneurs . These increases were offset by a 5.4% fall in pledge loans.

Commercial loans (overdrafts, discounted instruments, receivables from financial leases, loans for the prefinancing and financing of exports, and other loans) grew 13.1% QoQ and 3.4% YoY both in real terms. Quarterly increase is explained by a 10.7% growth in other loans, a 41.5% increase in prefinancing and financing of exports, followed by a 21.2% increase in overdrafts.

Loan portfolios were highly impacted by the effect of inflation during the second quarter of 2022, which reached 17.3%. In nominal terms, BBVA Argentina managed to increase the retail, commercial and total loan portfolio by 21.3%, 32.7% and 25.6% respectively during the quarter, well beyond real term growth.

4 Taking into consideration wholesale U.S. dollar foreign exchange rates on BCRA's Communication "A" 3500.

16
LOANS AND OTHER FINANCING - NON RESTATED FIGURES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Non-financial private sector and residents abroad - Retail 306,911 253,110 194,596 21.3% 57.7%
Non-financial private sector and residents abroad - Commercial 212,346 160,046 125,265 32.7% 69.5%
Total loans and other financing (1) 524,874 417,952 322,527 25.6% 62.7%
(1) Does not include allowances

As of 2Q22, the total loans and other financing over deposits ratio was 53.9%, above the 52.4% recorded in 1Q22 and the 52.9% in 2Q21.

MARKET SHARE - PRIVATE SECTOR LOANS BBVA ARGENTINA CONSOLIDATED
In % ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Private sector loans - Bank 7.44% 7.00% 7.35% 44 bps 9 bps
Private sector loans - Consolidated* 8.35% 7.89% 8.21% 46 bps 14 bps
Based on daily BCRA information. Capital balance as of the last day of each quarter.
* Consolidates PSA, VWFS & Rombo
LOANS BY ECONOMIC ACTIVITY BBVA ARGENTINA CONSOLIDATED
% over total gross loans and other financing ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Government services n.m n.m n.m - -
Financial Sector 1.07% 1.15% 0.83% (8)bps 24 bps
Agricultural and Livestock 4.57% 4.64% 4.87% (7)bps (30)bps
Mining products 3.89% 3.83% 6.71% 6 bps (282)bps
Other manufacturing 11.49% 10.44% 9.94% 105 bps 155 bps
Electricity, oil,water and sanitary services 0.23% 0.16% 0.35% 7 bps (12)bps
Wholesale and retail trade 5.67% 5.12% 4.98% 55 bps 69 bps
Transport 1.27% 1.06% 0.88% 21 bps 39 bps
Services 1.54% 1.95% 0.46% (41)bps 108 bps
Others 15.78% 13.92% 12.19% 186 bps 359 bps
Construction 0.57% 0.68% 0.57% (11)bps (0)bps
Consumer 53.91% 57.06% 58.22% (314)bps (431)bps
Total gross loans and other financing 100% 100% 100%
17

Asset Quality

ASSET QUALITY BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Commercial non-performing portfolio (1) 892 1,143 4,034 (22.0%) (77.9%)
Total commercial portfolio 185,184 143,133 179,702 29.4% 3.1%
Commercial non-performing portfolio / Total commercial portfolio 0.48% 0.80% 2.24% (32)bps (176)bps
Retail non-performing portfolio (1) 5,092 5,331 9,582 (4.5%) (46.9%)
Total retail portfolio 367,004 357,669 366,391 2.6% 0.2%
Retail non-performing portfolio / Total retail portfolio 1.39% 1.49% 2.62% (10)pbs (123)pbs
Total non-performing portfolio (1) 5,984 6,474 13,616 (7.6%) (56.1%)
Total portfolio 552,188 500,802 546,093 10.3% 1.1%
Total non-performing portfolio / Total portfolio 1.08% 1.29% 2.49% (21)bps (141)bps
Allowances 13,128 14,226 25,581 (7.7%) (48.7%)
Allowances /Total non-performing portfolio 219.39% 219.73% 187.87% (34)bps 3,152 bps
Quarterly change in Write-offs 1,653 4,528 1,151 (63.5%) 43.6%
Write offs / Total portfolio 0.30% 0.90% 0.21% (60)bps 9 bps
Cost of Risk (CoR) 1.94% 2.11% 2.61% (17)bps (67)bps
(1) Non-performing loans include: all loans to borrowers classified as "Deficient Servicing (Stage 3)", "High Insolvency Risk (Stage 4)", "Irrecoverable" and/or "Irrecoverable for Technical Decision" (Stage 5) according to BCRA debtor classification system

In 2Q22, asset quality ratio or NPL (total non-performing portfolio / total portfolio) was 1.08%, compared to the 1.29% recorded in 1Q22. The decrease is mainly explained by a good loan portfolio behavior, mainly on the commercial side, as well as growth in the total portfolio.

The coverage ratio (allowances / total non-performing portfolio) was 219.39% in 2Q22, remaining stable versus the 219.73% recorded in 1Q22.

Cost of risk (loan loss allowances / average total loans) reached 1.94% as of 2Q22, below 1Q22's 2.11%. This is mainly explained by a higher growth in the average loan portfolio versus quarterly loan loss allowances.

ANALYSIS FOR THE ALLOWANCE OF LOAN LOSSES BBVA ARGENTINA CONSOLIDATED
In millions of AR$
Balance at 12/31/2021 Stage 1 Stage 2 Stage 3 Monetary result generated by allowances Balance at 06/30/2022
Other financial assets 392 72 - 36 (114) 386
Loans and other financing 18,589 1,047 (101) (1,808) (4,598) 13,129
Other debt securities 21 5 - - (7) 19
Eventual commitments 1,162 139 10 14 (327) 998
Total allowances 20,164 1,263 (91) (1,758) (5,046) 14,532
Note: to be consistent with Financial Statements, it must be recorded from the beginning of the year instead of the quarter

Allowances for the Bank in 2Q22 reflect expected losses driven by the adoption of the IFRS 9 standards as of January 1, 2020, except for debt instruments issued by the nonfinancial government sector which were excluded from the scope of such standard.

18

Public Sector Exposure

NET PUBLIC DEBT EXPOSURE BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Treasury and Government securities 127,165 122,396 78,816 3.9% 61.3%
Treasury and National Government 127,165 122,396 78,816 3.9% 61.3%
National Treasury Public Debt in AR$ 124,084 119,576 78,816 3.8% 57.4%
National Treasury Public Debt in USD 1,227 869 - 41.1% N/A
National Treasury Public Debt in AR$ linked to US dollars 1,854 1,950 - (4.9%) N/A
Loans to the Public Sector 3 1 - 200.0% N/A
AR$ Subtotal 124,087 119,577 78,816 3.8% 57.4%
USD Subtotal* 3,081 2,820 - 9.3% N/A
Total Public Debt Exposure 127,168 122,397 78,816 3.9% 61.3%
B.C.R.A. Exposure 442,418 397,088 297,344 11.4% 48.8%
Instruments 326,596 318,004 150,189 2.7% 117.5%
Leliqs 278,191 289,835 150,189 (4.0%) 85.2%
Notaliqs 48,405 28,169 - 71.8% N/A
Loans to the B.C.R.A. 3 4 - (25.0%) N/A
Repo 115,822 79,084 147,155 46.5% (21.3%)
B.C.R.A. - AR$ 115,822 79,084 147,155 46.5% (21.3%)
% Public sector exposure (Excl. B.C.R.A.) / Total assets 9.0% 8.9% 5.6% 12 bps 349 bps
*Includes USD-linked Treasury public debt in AR$
This table does not include deposits at the Central Bank used to comply with reserve requirements.

2Q22 public sector exposure (excluding BCRA) totaled $127.2 billion, growing 3.9% or $4.8 billion QoQ, and 61.3% or $48.4 billion YoY. The quarterly increase is explained by a greater position in CER-linked treasury bonds, CER-linked treasury bills (LECER), as well as U.S. dollar denominated treasury bonds.

Short-term liquidity is mostly allocated in BCRA instruments, which increased 11.4% QoQ and 48.8% YoY in real terms. The quarterly increase is explained by a higher REPO position (at quarter-end).

Exposure to the public sector (excluding BCRA) represents 9.0% of total assets, above the 8.9% in 1Q22 and the 5.6% in 2Q21.

19

Deposits

TOTAL DEPOSITS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Total deposits 974,101 935,264 998,847 4.2% (2.5%)
Non-financial Public Sector 14,543 20,423 11,678 (28.8%) 24.5%
Financial Sector 289 343 715 (15.7%) (59.6%)
Non-financial private sector and residents abroad 959,269 914,498 986,454 4.9% (2.8%)
Non-financial private sector and residents abroad - AR$ 770,875 718,619 724,943 7.3% 6.3%
Checking accounts 237,863 235,009 227,196 1.2% 4.7%
Savings accounts 181,545 152,797 188,115 18.8% (3.5%)
Time deposits 252,627 237,463 237,114 6.4% 6.5%
Investment accounts 93,401 87,576 66,548 6.7% 40.4%
Other 5,439 5,774 5,970 (5.8%) (8.9%)
Non-financial private sector and res. abroad - Foreign Currency 188,394 195,879 261,511 (3.8%) (28.0%)
Checking accounts 16 59 59 (72.9%) (72.9%)
Savings accounts 167,178 172,855 230,004 (3.3%) (27.3%)
Time deposits 19,045 20,548 28,038 (7.3%) (32.1%)
Other 2,155 2,417 3,410 (10.8%) (36.8%)
% of total portfolio in the private sector in AR$ 80.4% 78.6% 73.5% 178 bps 687 bps
% of total portfolio in the private sector in Foregin Currency 19.6% 21.4% 26.5% (178)bps (687)bps
% of time deposits with UVA adjustments / Total AR$ Deposits 7.0% 4.4% 4.4% 265 bps 257 bps
DEPOSITS TO THE NON-FINANCIAL PRIVATE SECTOR AND RES. ABROAD IN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of USD ∆ %
2Q22 1Q22 2Q21 QoQ YoY
FX rate* 125.2 111.0 95.7 12.8% 30.8%
Non-financial private sector and residents abroad - Foreign Currency (USD) 1,505 1,505 1,666 (0.0%) (9.7%)
*Wholesale U.S. dollar foreign exchange rates on BCRA's Communication "A" 3500, as of the end of period.

As of 2Q22, total deposits reached $974.1 billion, increasing 4.2% or $38.8 billion QoQ, and falling 2.5% or $24.7 billion YoY.

Private non-financial sector deposits in 2Q22 totaled $959.3 billion, growing 4.9% QoQ, and falling 2.8% YoY.

Private non-financial sector deposits in pesos totaled $770.9 billion, increasing 7.3% compared to 1Q22, and 6.3% compared to 2Q21. The quarterly change is mainly affected by an increase in sight deposits, especially savings accounts by 18.8%, and by a 6.4% and a 6.7% increase in time deposits and investment accounts respectively.

Private non-financial sector deposits in foreign currency expressed in pesos fell 3.8% QoQ and 28.0% YoY. Measured in U.S. dollars, these deposits remained stable QoQ and fell 9.7% YoY.

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PRIVATE DEPOSITS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Non-financial private sector and residents abroad 959,269 914,498 986,454 4.9% (2.8%)
Sight deposits 594,196 568,911 654,754 4.4% (9.2%)
Checking accounts 237,879 235,068 227,255 1.2% 4.7%
Savings accounts 348,723 325,652 418,119 7.1% (16.6%)
Other 7,594 8,191 9,380 (7.3%) (19.0%)
Time deposits 365,073 345,587 331,700 5.6% 10.1%
Time deposits 271,672 258,011 265,152 5.3% 2.5%
Investment accounts 93,401 87,576 66,548 6.7% 40.4%
% of sight deposits over total private deposits 62.5% 63.0% 66.8% (53)bps (427)bps
% of time deposits over total private deposits 37.5% 37.0% 33.2% 53 bps 427 bps
PRIVATE DEPOSITS - NON RESTATED FIGURES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Sight deposits 594,196 484,998 399,282 22.5% 48.8%
Time deposits 365,073 294,613 202,278 23.9% 80.5%
Total deposits 974,101 797,314 609,118 22.2% 59.9%

As of 2Q22, the Bank's transactional deposits (checking accounts and savings accounts) represented 61.2% of total non-financial private deposits, totaling $586.6 billion, versus 61.3% in 1Q22.

MARKET SHARE - PRIVATE SECTOR DEPOSITS BBVA ARGENTINA CONSOLIDATED
In % ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Private sector Deposits - Consolidated* 7.15% 7.12% 7.41% 3 pbs (29)pbs
Based on daily BCRA information. Capital balance as of the last day of each quarter.
* Consolidates PSA, VWFS & Rombo

Other Sources of Funds

OTHER SOURCES OF FUNDS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Other sources of funds 250,821 238,605 230,972 5.1% 8.6%
Central Bank 56 60 49 (7.2%) 13.7%
Banks and international organizations 8 - 4,800 N/A (99.8%)
Financing received from local financial institutions 20,492 14,489 11,083 41.4% 84.9%
Corporate bonds 395 527 1,428 (25.0%) (72.3%)
Equity 229,870 223,529 213,612 2.8% 7.6%

In 2Q22, other sources of funds totaled $250.8 billion, growing 5.1% or $12.2 billion QoQ, and 8.6% or $19.8 billion YoY.

Quarterly increase is mostly explained by the 2.8% increase in equity, followed by an increase in financing received from local financial institutions by 41.4%, taken by consolidated companies.

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Liquid Assets

TOTAL LIQUID ASSETS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Total liquid assets 746,894 744,837 756,602 0.3% (1.3%)
Cash and deposits in banks 185,377 233,394 325,225 (20.6%) (43.0%)
Debt securities at fair value through profit or loss 20,133 12,178 7,409 65.3% 171.7%
Government securities 4,013 3,578 7,409 12.2% (45.8%)
Liquidity bills of B. C. R. A. 16,120 8,600 - 87.4% N/A
Net REPO transactions 115,822 79,084 172,616 46.5% (32.9%)
Other debt securities 425,562 420,181 251,352 1.3% 69.3%
Government securities 114,923 110,775 75,177 3.7% 52.9%
Liquidity bills of B. C. R. A. 310,639 309,406 176,175 0.4% 76.3%
Liquid assets / Total Deposits 76.7% 79.6% 75.7% (296)bps 93 bps

In 2Q22, liquid assets were $746.9 billion, mildly growing 0.3% or $2.1 billion compared to 1Q22, and falling 1.3% or $9.7 billion compared to 2Q21, mainly due to a circumstantial increase in net REPO transactions (quarter-end position), offset by a reduction in cash and deposits in banks.

In the quarter, the liquidity ratio (liquid assets / total deposits) reached 76.7%. Liquidity ratio in local and foreign currency reached 75.1% and 83.1% respectively.

Solvency

MINIMUM CAPITAL REQUIREMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Minimum capital requirement 69,247 68,629 69,998 0.9% (1.1%)
Credit risk 49,734 48,366 51,884 2.8% (4.1%)
Market risk 571 765 935 (25.3%) (38.9%)
Operational risk 18,942 19,498 17,179 (2.9%) 10.3%
Integrated Capital - RPC (1)* 193,938 197,813 199,144 (2.0%) (2.6%)
Ordinary Capital Level 1 ( COn1) 231,115 224,685 221,576 2.9% 4.3%
Deductible items COn1 (38,460) (28,793) (27,731) (33.6%) (38.7%)
Additional Capital Level 2 (COn2) 1,283 1,921 5,298 (33.2%) (75.8%)
Excess Capital
Integration excess 124,691 129,185 129,146 (3.5%) (3.4%)
Excess as % of minimum capital requirement 180.1% 188.2% 184.5% (817)bps (443)bps
Risk-weighted assets (RWA, according to B.C.R.A. regulation) (2) 847,483 840,250 856,092 0.9% (1.0%)
Regulatory Capital Ratio (1)/(2) 22.9% 23.5% 23.3% (66)pbs (38)pbs
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 22.7% 23.3% 22.6% (58)pbs 9 pbs
* RPC includes 100% of quarterly results
22

BBVA Argentina continues to show strong solvency indicators on 2Q22. Capital ratio reached 22.9%, below than 1Q22's 23.5%, mostly due to the effect of Other Comprehensive Income in equity. Tier 1 ratio was 22.7% and capital excess over regulatory requirement was $124.7 billion or 180.1%.

BBVA Argentina Asset Management S.A.

MUTUAL FUNDS ASSETS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
FBA Renta Pesos 231,191 239,362 227,052 (3.4%) 1.8%
FBA Renta Fija Plus 15,358 24,059 16,918 (36.2%) (9.2%)
FBA Ahorro Pesos 6,132 17,323 2,502 (64.6%) 145.1%
FBA Horizonte 376 439 612 (14.4%) (38.6%)
FBA Calificado 858 1,121 969 (23.5%) (11.5%)
FBA Acciones Argentinas 730 994 800 (26.6%) (8.8%)
FBA Acciones Latinoamericanas 578 663 781 (12.8%) (26.0%)
FBA Bonos Argentina 1,037 1,822 613 (43.1%) 69.2%
FBA Bonos Globales 36 52 200 (30.8%) (82.0%)
FBA Renta Mixta 230 351 254 (34.5%) (9.4%)
FBA Gestión I 37 42 52 (11.9%) (28.8%)
FBA Horizonte Plus 12 16 43 (25.0%) (72.1%)
FBA Retorno Total I 19 22 34 (13.6%) (44.1%)
FBA Renta Publica I 30 39 3 (23.1%) n.m
FBA Renta Fija Local 2 2 3 - (33.3%)
Total assets 256,626 286,307 250,836 (10.4%) 2.3%
MARKET SHARE - MUTUAL FUNDS BBVA ASSET MANAGEMENT
In % ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Mutual funds 5.60% 5.81% 6.19% (21)bps (38)bps
Source: Cámara Argentina de Fondos Comunes de Inversión
23

Other Events

Main Relevant Events

· As of June 13, 2022, the BCRA's Superintendence of Exchange Institutions resolved to authorize Banco BBVA Argentina S.A. the distribution of profits in cash and/or in securities for a total amount $13.2 billion, which must be carried out in instalments, in accordance with the provisions set forth by Communication "A" 7421 of the BCRA and whose payment schedule shall be reported soon. As established by the Ordinary and Extraordinary General Meeting of Shareholders held on April 29th, 2022, the Board of Directors shall determine the opportunity, modality, terms, and other conditions of dividends to shareholders.
· As of June 16, 2022, according to the resolution of the Ordinary and Extraordinary General Meeting held on April 29th, 2022, and the Meeting of the Board of Directors held on June 16th, 2022, the following dividends payment schedule was approved:

Every time the dividend is available, the corresponding payment notice shall be issued, informing the following: i) the amount to be made available to shareholders; ii) the amount per share; and iii) if the dividend payable is subject to some form of tax deduction.

Regarding instalments 1 to 7, as from July 6, 2022 the provision and payment of a dividend in the amount of AR$ 7.7 billion representing AR$ 12.5339 per share, shall be made available to the shareholders registered in the stock register of the Bank on July 5, 2022.

For further information refer to the relevant event on the Investor Relations' website on the Financial information > CNV filings.

· As of June 16, 2022, the Board of Directors of Banco BBVA Argentina S.A. accepted today the resignation of the Regular Director Alfredo Castillo Triguero as from today. Thus, it was expressly stated that such resignation was not intentional or untimely but due to his application for the retirement and pension benefits. Thus, we inform that at the aforementioned meeting, the Board has decided to make modifications within the Front Line Management. In this regard, Mrs. Monica Gabriela Etcheverry was appointed to be in charge of the Directorate of Internal Control and Compliance.
· Con fecha 24 de junio de 2022, el Directorio designó en reemplazo del Sr. Alfredo Castillo Triguero al Sr. Javier Pérez Cardete, quien revestía el carácter de Director Suplente, como Director Titular hasta la próxima asamblea anual ordinaria. El Directorio ha resuelto reemplazar al Sr. Alfredo Castillo Triguero por el Sr. Javier Pérez Cardete, en el Comité de Auditoría CNV/BCRA.
· As of June 24, 2022, the Board of Directors decided to replace Mr. Alfredo Castillo Triguero with Mr. Javier Pérez Cardete, who was acting as Alternate Director and shall serve as Regular Director until the next General Meeting of Shareholders in accordance with Section 10 of the By-laws. At that Meeting, the Board decided to replace Mr. Alfredo Castillo Triguero with Mr. Javier Pérez Cardete, on the CNV/BCRA Audit Committee.
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As of July 19, 2022, in relation to instalment 8, from August 3, 2022, a dividend in the amount of $ 1.1 billion, shall be made available to the shareholders registered in the stock register of the Bank on August 2, 2022. For further information refer to the relevant event on the Investor Relations' website on the Financial information > CNV filings.

· As of August 22, 2022, in relation to instalment 9, from September 7, 2022, a dividend in the amount of $ 1.1 billion, shall be made available to the shareholders registered in the stock register of the Bank on September 6, 2022. For further information refer to the relevant event on the Investor Relations' website on the Financial information > CNV filings.

Digital Transformation

Digitalization continued to accelerate during 2Q22. Active digital client total more than 2.2 million with a 62.0% penetration over total active clients (3.55 million), versus a penetration of 61.9% in 2Q21. Active mobile clients reach 1.9 million, representing a 54.4% penetration in 2Q22, versus a penetration of 52.4% in 2Q21. Digital and mobile transactions6 increased 16.7% in 2Q22 YoY.

On 2Q22, retail digital sales measured in units reached 82.0% of total sales (vs. 78.6% in 2Q21) and represent 54.4% of the Banks total sales measured in monetary value (vs. 53.1% in 2Q21).

In 2Q22, new client acquisition through digital channels over traditional ones was 66%, while it was 70% on 2Q21.

SMEs Productive investment financing credit lines - June 2021

As of June 30, 2022, total loans granted by the Bank regarding 2020, 2021 and 2021/2022 quotas, and the 2022 quota complied with what was requested by the BCRA pursuant to Communications "B" 12162, "B" 12164 and "B" 12238 respectively.

Main Regulatory Changes

Monetary policy rate, time deposits. (Communication "A" 7527, 16/06/2022). The BCRA replaces the applicable percentages (over LELIQ rates) for the determination of minimum time deposit rates for the following: time deposits made by individuals which do not exceed the amount of $10 million: 101.92% (53% nominal annual), deposits not included in the previous item: 96.15% (50% nominal annual), available for time deposits granted as of June 21, 2022.

Regarding Productive Investment Credit Lines for SMEs, for financing granted as of June 21, 2022, maximum rates were increased: from 35% to 42% (nominal annual) to investment project financing, and from 43% to 52.50% (nominal annual) for working capital and discounted instruments financing.

Lastly, as of July 2022, interest rates for credit card financing (up to $200,000) rises to 57% (nominal annual).

On the same date, it has increased the monetary policy rate (28-day LELIQ) increased 300 bps from 49% to 52%

5 Calculation parameters were modified as of 1Q22

6 Includes online and mobile banking, Net Cash online & mobile.

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Financing of foreign purchases made in instalments. (Communication "A" 7535, 30/06/2022). As of July 4, 2022, financial institutions and non-financial credit providers cannot finance purchases in instalments of their clients: a) of tickets and touristic services abroad and b) products abroad that are received through postal delivery services with no commercial purposes according to Customs' Office Code, nor international courier services and custom paperwork agents.

Minimum reserve requirements. Modifications. (Communication "A" 7536, 30/06/2022). The BCRA decreases the reserve requirement rate over time deposits (from 32% to 25% points on a residual term of up to 29 days, and from 22% to 14% for up to 59 days). It also revokes the reduction related to the location of branches and distance deposits. It enables non- Group A financial institutions to integrate the requirement with Bonte 27 bonds (except for sight deposits and unencumbered balances, which only apply for Group A institutions). It allows to integrate sight deposits with LELIQs (Group A: 4 percentage points, rest: 10 percentage points). It removes non-credit linked deductions: financial inclusion (TCUME, Echeq, ATM operability), ATM withdrawals continues to be considered until December 31, 2022. Removal of deduction top over financial inclusion loans (3% of concepts subject to requirement). It removes special requirement rates for Group C institutions.

Minimum reserve requirement. Public securities. (Communication "A" 7545, 12/07/2022). As of July 13, 2022, the minimum duration of public securities required for reserve requirement is reduced from 120 to 90 days.

Put options on National Treasury securities issued as of July 2022, issued by the BCRA and participation in the secondary market of Treasury bonds. (Communication "A" 7546, 12/07/2022). The BCRA announced that it will be enabled to organize public biddings of put options over Treasury bonds issued as of July 2022 (and which mature before December 31, 2023). Contracts can be exercised any time until its maturity, which will be 15 days prior to the maturity of the collateral. Also, the BCRA will continue to participate in the secondary market to reduce volatility of Treasury instruments, and for debt instruments issued as of July 2022, with bid positions with prices similar to primary market value and a maximum spread of 2%.

Interest rate corridor. (Press release, 14/07/2022). The BCRA decided to design for its monetary and financial policy an interest rate corridor made by the short term Treasury Note rate, the monetary policy rate represented by the 28-day LELIQ and the 1-day REPO rate. The BCRA REPO rate will be the lower limit and the Treasury note rate, the upper limit.

Non-financial public sector financing. (Communication "A" 7549, 21/07/2022). The exclusion of financial assistance aimed at payroll payments from non-financial public sector financing limits is extended until January 31, 2023. Overdrafts standing as of February 1, 2023 will be subject to credit limits.

Tourists access to financial U.S dollar rate. (Communication "A" 7551, 21/07/2022). The BCRA stated that institutions authorized to participate in the FX market will be allowed to receive foreign currency bills from non-resident tourists in order to carry out, on their behalf, the purchase of securities with foreign currency settlement to then sell them on Argentine peso settlement, while they account for a sworn affidavit where they prove their non-resident tourist condition, and that, during the prior 30 days, have not done any transactions in the equivalent of USD 5,000.

CEDEAR position limit. (Communication "A" 7552. 21/07/2022). The BCRA modified the complementary requirements for the FX market outflows, and now states a limit position of USD 100,000 in CEDEARs ("Certificados de Depósitos Argentinos" or Argentine Depositary Receipts) to be able to access the official FX market. Until August 19, 2022, financial institutions can take into account these CEDEARs purchased before July 21, as a situation where it is admitted that external assets and/or CEDEAR altogether exceed the required amount. Lastly, those securities cannot be transacted during 90 days prior and 90 days after accessing the FX market.

Issuance of Internal Argentine Republic Central Bank Notes in USD with Argentine peso settlement at the Com. "A" 3500 FX rate (LEDIV) at zero rate. (Communication "A" 7557, 27/07/2022). The BCRA issues Internal Argentine Republic Central Bank Notes in USD with Argentine peso settlement at the Com. "A" 3500 FX rate (LEDIV) at zero rate. Financial institutions with deposit portfolios at floating rates linked to the wholesale U.S. Dollar FX, will be able to bid in the primary market. The top position will be set by the amount of these kind of deposits. At subscribers' request, the BCRA will recall the LEDIVs as of 48 hours from its issuance, enabling the bidder to request an anticipated call of part or the total position before their maturity.

Interest rates in credit transactions. (Communication "A" 7559, 28/07/2022). The BCRA stated that the interest rate limit to credit card financing will not be applicable when the statement records consumptions in foreign currency above USD 200, non withstanding the established limit in art. 16 of Credit card law no. 25,065.

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Minimum time deposit rate. Productive investment financing to SMEs. Minimum reserve requirement. Credit card rate financing. (Communication "A" 7561, 28/07/2022). The BCRA raised the applicable percentages (over LELIQ rates) for the determination of minimum time deposit rates for the following: time deposits made by individuals which do not exceed the amount of $10 million: 101.67% (61% nominal annual), deposits not included in the previous item: 90% (54% nominal annual), available for time deposits granted as of July 29, 2022.

Regarding Productive Investment Credit Lines for SMEs, for financing granted as of July 29, 2022, maximum rates were increased: from 42% to 50% (nominal annual) to investment project financing, and from 52.50% to 58% (nominal annual) for working capital and discounted instruments financing. Reserve requirement deduction for these financings is now 40.00%.

Lastly, as of August 2022, interest rates for credit card financing (up to $200,000) rises from 57% to 62% (nominal annual).

On the same date, it has increased the monetary policy rate (28-day LELIQ) increased from 52% to 60%.

Minimum time deposit rate. Productive investment financing to SMEs. Minimum reserve requirement. Credit card rate financing. (Communication "A" 7577, 12/08/2022). The BCRA raised the applicable percentages (over LELIQ rates) for the determination of minimum time deposit rates for the following: time deposits made by individuals which do not exceed the amount of $10 million: 100% (69.50% nominal annual), deposits not included in the previous item: 87.70% (61% nominal annual), available for time deposits granted as of August 29, 2022.

Regarding Productive Investment Credit Lines for SMEs, for financing granted as of August 29, 2022, maximum rates were increased: from 50% to 59% (nominal annual) to investment project financing, and from 58% to 69% (nominal annual) for working capital and discounted instruments financing. Reserve requirement deduction for these financings is now 40.00%.

Lastly, as of September 2022, interest rates for credit card financing (up to $200,000) rises from 62% to 71.50% (nominal annual).

On the same date, it has increased the monetary policy rate (28-day LELIQ) increased from 60% to 69.50%

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Glossary

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.

Cost of Risk (accumulated): Year to date accumulated loan loss allowances / Average total loans.

Average total loans: average between previous year-end Total loans and other financing and current period Total loans and other financing.

Cost of Risk (quarterly): Current period Loan loss allowances / Average total loans. Average total loans: average between previous quarter-end Total loans and other financing and current period Total loans and other financing.

Coverage ratio: Quarterly allowances under the Expected Credit Loss model / total non-performing portfolio.

Digital clients: 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.

Efficiency ratio (Excl. inflation adjustments, accumulated): Accumulated (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / Accumulated (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income).

Efficiency ratio (Excl. inflation adjustments, quarterly): (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income).

Efficiency ratio (accumulated): Accumulated (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / Accumulated (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income+ Income from net monetary position).

Efficiency ratio (quarterly): (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income+ Income from net monetary position).

Liquidity Ratio: (Cash and deposits in banks + Debt securities at fair value through P&L (Excl. Private securities) + Net REPO transactions + Other debt securities (Excl. Private securities) / Total Deposits.

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

Net Interest Margin (NIM) - (quarterly): Quarterly Net Interest Income / Average quarterly interest earning assets.

Public Sector Exposure (excl. BCRA): (National and Provincial Government public debt + Loans to the public sector + REPO transactions) / Total Assets.

ROA (accumulated): Accumulated net Income of the period attributable to owners of the parent / Total Average Assets. Total Average Assets is calculated as the average between total assets on December of the previous year and total assets in the current period, expressed in local currency. Calculated over a 365-day year.

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ROA (quarterly): Net Income of the period attributable to owners of the parent / Total Average Assets. Total Average Assets is calculated as the average between total assets on the previous quarter-end and total assets in the current period, expressed in local currency. Calculated over a 365-day year.

ROE (accumulated): Accumulated net Income of the period attributable to owners of the parent / Average Equity. Average Equity is calculated as the average between equity in December of the previous year and equity in the current period, expressed in local currency. Calculated over a 365-day year.

ROE (quarterly): Net Income of the period attributable to owners of the parent / Average Equity. Average Equity is calculated as the average between equity on the previous quarter end and equity in the current period, expressed in local currency. Calculated over a 365-day year.

Spread: (Quarterly Interest Income / Quarterly average Interest-earning Assets) - (Quarterly Interest Expenses / Quarterly average interest-bearing liabilities).

Other terms

n.m.: not meaningful. Implies an increase above 500% and a decrease below -500%.

N/A: not applicable.

Bps: basis points.

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Balance Sheet

BALANCE SHEET BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Assets
Cash and deposits in banks 185,377 233,394 325,225 (20.6%) (43.0%)
Cash 76,181 87,546 97,107 (13.0%) (21.5%)
Financial institutions and correspondents 109,196 145,848 228,118 (25.1%) (52.1%)
BCRA 96,918 135,982 221,704 (28.7%) (56.3%)
Other local and foreign financial institutions 12,278 9,866 6,414 24.4% 91.4%
Debt securities at fair value through profit or loss 20,133 12,178 7,416 65.3% 171.5%
Derivatives 432 1,168 4,323 (63.0%) (90.0%)
Repo transactions 115,822 79,084 172,616 46.5% (32.9%)
Other financial assets 20,815 25,479 25,006 (18.3%) (16.8%)
Loans and other financing 511,746 476,040 503,305 7.5% 1.7%
Non-financial public sector 3 1 - 200.0% N/A
B.C.R.A 3 4 - (25.0%) N/A
Other financial institutions 5,214 5,356 3,882 (2.7%) 34.3%
Non-financial private sector and residents abroad 506,526 470,679 499,423 7.6% 1.4%
Other debt securities 427,767 421,853 252,154 1.4% 69.6%
Financial assets pledged as collateral 25,527 27,104 27,351 (5.8%) (6.7%)
Current income tax assets 791 2,740 7,922 (71.1%) (90.0%)
Investments in equity instruments 524 602 3,488 (13.0%) (85.0%)
Investments in subsidiaries and associates 2,614 2,638 3,364 (0.9%) (22.3%)
Property and equipment 68,720 68,374 67,603 0.5% 1.7%
Intangible assets 5,870 5,382 3,892 9.1% 50.8%
Deferred income tax assets 1,040 1,179 1,067 (11.8%) (2.5%)
Other non-financial assets 17,731 13,727 12,253 29.2% 44.7%
Non-current assets held for sale 411 411 464 - (11.4%)
Total Assets 1,405,320 1,371,353 1,417,449 2.5% (0.9%)
Liabilities
Deposits 974,101 935,264 998,847 4.2% (2.5%)
Non-financial public sector 14,543 20,423 11,678 (28.8%) 24.5%
Financial sector 289 343 715 (15.7%) (59.6%)
Non-financial private sector and residents abroad 959,269 914,498 986,454 4.9% (2.8%)
Derivatives 147 384 233 (61.7%) (36.9%)
Other financial liabilities 78,988 81,396 76,896 (3.0%) 2.7%
Financing received from the B.C.R.A. and other financial institutions 20,556 14,549 15,932 41.3% 29.0%
Corporate bonds issued 395 527 1,428 (25.0%) (72.3%)
Current income tax liabilities 245 642 134 (61.8%) 82.8%
Provisions 6,872 6,820 10,391 0.8% (33.9%)
Deferred income tax liabilities 4 13,574 5,625 (100.0%) (99.9%)
Other non-financial liabilities 90,055 90,455 90,031 (0.4%) 0.0%
Total Liabilities 1,171,363 1,143,611 1,199,517 2.4% (2.3%)
Equity
Share Capital 613 613 613 - -
Non-capitalized contributions 54,227 54,227 54,227 - -
Capital adjustments 38,954 38,954 38,954 - -
Reserves 122,291 95,509 104,700 28.0% 16.8%
Retained earnings 7 26,812 (2,060) (100.0%) 100.3%
Other accumulated comprehensive income (7,147) 2,503 (134) (385.6%) n.m
Income for the period 20,925 4,911 17,312 326.1% 20.9%
Equity attributable to owners of the Parent 229,870 223,529 213,612 2.8% 7.6%
Equity attributable to non-controlling interests 4,087 4,213 4,320 (3.0%) (5.4%)
Total Equity 233,957 227,742 217,932 2.7% 7.4%
Total Liabilities and Equity 1,405,320 1,371,353 1,417,449 2.5% (0.9%)
30

Balance Sheet - Five quarters

BALANCE SHEET BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted
2Q22 1Q22 4Q21 3Q21 2Q21
Assets
Cash and deposits in banks 185,377 233,394 297,281 296,000 325,225
Cash 76,181 87,546 101,098 73,730 97,107
Financial institutions and correspondents 109,196 145,848 196,183 222,270 228,118
B.C.R.A 96,918 135,982 193,314 217,564 221,704
Other local and foreign financial institutions 12,278 9,866 2,869 4,706 6,414
Debt securities at fair value through profit or loss 20,133 12,178 1,902 9,828 7,416
Derivatives 432 1,168 3,835 4,870 4,323
Repo transactions 115,822 79,084 187,275 163,198 172,616
Other financial assets 20,815 25,479 19,981 29,372 25,006
Loans and other financing 511,746 476,040 516,070 491,152 503,305
Non-financial public sector 3 1 1 1 -
B.C.R.A 3 4 - - -
Other financial institutions 5,214 5,356 5,732 5,162 3,882
Non-financial private sector and residents abroad 506,526 470,679 510,337 485,989 499,423
Other debt securities 427,767 421,853 251,868 260,051 252,154
Financial assets pledged as collateral 25,527 27,104 27,613 24,026 27,351
Current income tax assets 791 2,740 3,069 3,117 7,922
Investments in equity instruments 524 602 3,019 3,219 3,488
Investments in subsidiaries and associates 2,614 2,638 2,793 2,932 3,364
Property and equipment 68,720 68,374 69,330 66,874 67,603
Intangible assets 5,870 5,382 5,004 4,289 3,892
Deferred income tax assets 1,040 1,179 1,193 1,001 1,067
Other non-financial assets 17,731 13,727 11,986 11,405 12,253
Non-current assets held for sale 411 411 411 464 464
Total Assets 1,405,320 1,371,353 1,402,630 1,371,798 1,417,449
Liabilities
Deposits 974,101 935,264 964,414 946,501 998,847
Non-financial public sector 14,543 20,423 18,073 15,313 11,678
Financial sector 289 343 296 308 715
Non-financial private sector and residents abroad 959,269 914,498 946,045 930,880 986,454
Liabilities at fair value through profit or loss - - - 71 -
Derivatives 147 384 428 528 233
Other financial liabilities 78,988 81,396 83,859 81,799 76,896
Financing received from the B.C.R.A. and other financial institutions 20,556 14,549 16,009 16,303 15,932
Corporate bonds issued 395 527 685 683 1,428
Current income tax liabilities 245 642 482 293 134
Provisions 6,872 6,820 7,642 7,914 10,391
Deferred income tax liabilities 4 13,574 11,177 7,392 5,625
Other non-financial liabilities 90,055 90,455 96,534 87,629 90,031
Total Liabilities 1,171,363 1,143,611 1,181,230 1,149,113 1,199,517
Equity
Share Capital 613 613 613 613 613
Non-capitalized contributions 54,227 54,227 54,227 54,227 54,227
Capital adjustments 38,954 38,954 38,954 38,955 38,954
Reserves 122,291 95,509 95,509 104,700 104,700
Retained earnings 7 26,812 (2,060) (2,060) (2,060)
Other accumulated comprehensive income (7,147) 2,503 949 (466) (134)
Income for the period 20,925 4,911 28,842 22,384 17,312
Equity attributable to owners of the Parent 229,870 223,529 217,034 218,353 213,612
Equity attributable to non-controlling interests 4,087 4,213 4,366 4,332 4,320
Total Equity 233,957 227,742 221,400 222,685 217,932
Total Liabilities and Equity 1,405,320 1,371,353 1,402,630 1,371,798 1,417,449
31

Balance Sheet - Foreign Currency Exposure

FOREIGN CURRENCY EXPOSURE BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Assets
Cash and deposits in banks 158,955 183,497 208,625 (13.4%) (23.8%)
Debt securities at fair value through profit or loss 1,227 869 1 41.2% n.m
Other financial assets 5,918 6,160 4,118 (3.9%) 43.7%
Loans and other financing 38,006 24,650 62,544 54.2% (39.2%)
Other financial institutions - - 514 N/A (100.0%)
Non-financial private sector and residents abroad 38,004 24,650 62,030 54.2% (38.7%)
Other debt securities 3,383 2,610 236 29.6% n.m
Financial assets pledged as collateral 6,945 6,792 8,105 2.3% (14.3%)
Investments in equity instruments 35 42 51 (16.7%) (31.4%)
Total foreign currency assets 214,469 224,620 283,680 (4.5%) (24.4%)
Liabilities
Deposits 194,945 204,344 267,793 (4.6%) (27.2%)
Non-Financial Public Sector 6,501 8,413 6,116 (22.7%) 6.3%
Financial Sector 53 53 95 - (44.2%)
Non-financial private sector and residents abroad 188,391 195,878 261,582 (3.8%) (28.0%)
Other financial liabilities 15,356 16,203 18,191 (5.2%) (15.6%)
Financing received from the B.C.R.A. and other financial institutions 513 584 5,721 (12.2%) (91.0%)
Other non financial liabilities 6,046 5,324 1,932 13.6% 212.9%
Total foreign currency liabilities 216,860 226,455 293,637 (4.2%) (26.1%)
Foreign Currency Net Position - AR$ (2,391) (1,835) (9,957) (30.3%) 76.0%
Foreign Currency Net Position - USD (19) (17) (104) (15.5%) 81.6%
*Wholesale U.S. dollar foreign exchange rates on BCRA's Communication "A" 3500, as of the end of period.
32

Income Statement

INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted ∆ %
2Q22 1Q22 2Q21 QoQ YoY
Interest income 99,622 80,961 71,610 23.0% 39.1%
Interest expense (45,312) (34,945) (31,752) (29.7%) (42.7%)
Net interest income 54,310 46,016 39,858 18.0% 36.3%
Fee income 14,393 15,196 15,639 (5.3%) (8.0%)
Fee expenses (4,087) (7,413) (6,737) 44.9% 39.3%
Net fee income 10,306 7,783 8,902 32.4% 15.8%
Net income from financial instruments at fair value through P&L 1,343 4,793 2,054 (72.0%) (34.6%)
Net loss from write-down of assets at amortized cost and fair value through OCI 567 (40) (27) n.m n.m
Foreign exchange and gold gains 1,557 2,007 1,937 (22.4%) (19.6%)
Other operating income 3,317 3,958 2,971 (16.2%) 11.6%
Loan loss allowances (2,455) (2,661) (3,486) 7.7% 29.6%
Net operating income 68,945 61,856 52,209 11.5% 32.1%
Personnel benefits (12,707) (10,633) (10,428) (19.5%) (21.9%)
Administrative expenses (12,260) (11,161) (9,639) (9.8%) (27.2%)
Depreciation and amortization (1,721) (1,918) (1,948) 10.3% 11.7%
Other operating expenses (10,254) (9,097) (9,123) (12.7%) (12.4%)
Operating expenses (36,942) (32,809) (31,138) (12.6%) (18.6%)
Operating income 32,003 29,047 21,071 10.2% 51.9%
Income from associates and joint ventures 218 (313) 285 169.6% (23.5%)
Income from net monetary position (23,788) (21,970) (14,322) (8.3%) (66.1%)
Income before income tax 8,433 6,764 7,034 24.7% 19.9%
Income tax 7,455 (2,033) 4,806 466.7% 55.1%
Income for the period 15,888 4,731 11,840 235.8% 34.2%
Owners of the parent 16,014 4,911 11,838 226.1% 35.3%
Non-controlling interests (126) (180) 2 30.0% n.m
Other comprehensive Income (1) (9,642) 1,546 101 n.m n.m
Total comprehensive income 6,246 6,277 11,941 (0.5%) (47.7%)
(1) Net of Income Tax.
33

Income Statement - Six month accumulated

INCOME STATEMENT - 6 MONTH ACCUMULATED BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted
2022 2021 ∆ %
Interest income 180,583 138,393 30.5%
Interest expense (80,257) (59,330) (35.3%)
Net interest income 100,326 79,063 26.9%
Fee income 29,589 29,608 (0.1%)
Fee expenses (11,500) (14,602) 21.2%
Net fee income 18,089 15,006 20.5%
Net income from financial instruments at fair value through P&L 6,136 4,966 23.6%
Net loss from write-down of assets at amortized cost and fair value through OCI 527 (87) n.m
Foreign exchange and gold gains 3,564 3,567 (0.1%)
Other operating income 7,275 5,785 25.8%
Loan loss allowances (5,116) (6,968) 26.6%
Net operating income 130,801 101,332 29.1%
Personnel benefits (23,340) (21,053) (10.9%)
Administrative expenses (23,421) (19,340) (21.1%)
Depreciation and amortization (3,639) (3,894) 6.5%
Other operating expenses (19,351) (17,579) (10.1%)
Operating expenses (69,751) (61,866) (12.7%)
Operating income 61,050 39,466 54.7%
Income from associates and joint ventures (95) 232 (140.9%)
Income from net monetary position (45,758) (28,060) (63.1%)
Income before income tax 15,197 11,638 30.6%
Income tax 5,422 5,601 (3.2%)
Income for the period 20,619 17,239 19.6%
Owners of the parent 20,925 17,312 20.9%
Non-controlling interests (306) (73) (319.2%)
Other comprehensive Income (OCI) (1) (8,096) (295) n.m
Total comprehensive income 12,523 16,944 (26.1%)
(1) Net of Income Tax.
34
Income Statement - Five quarters
INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted
2Q22 1Q22 4Q21 3Q21 2Q21
Interest income 99,622 80,961 76,115 78,087 71,610
Interest expense (45,312) (34,945) (30,392) (34,259) (31,752)
Net interest income 54,310 46,016 45,724 43,828 39,858
Fee income 14,393 15,196 15,752 15,506 15,639
Fee expenses (4,087) (7,413) (7,819) (6,222) (6,737)
Net fee income 10,306 7,783 7,934 9,284 8,902
Net income from financial instruments at fair value through P&L 1,343 4,793 (308) 1,284 2,054
Net loss from write-down of assets at amortized cost and fair value through OCI 567 (40) (24) (56) (27)
Foreign exchange and gold gains 1,557 2,007 2,218 1,757 1,937
Other operating income 3,317 3,958 2,857 2,375 2,971
Loan loss allowances (2,455) (2,661) (605) (3,683) (3,486)
Net operating income 68,945 61,856 57,796 54,789 52,209
Personnel benefits (12,707) (10,633) (10,504) (11,075) (10,428)
Administrative expenses (12,260) (11,161) (11,611) (13,206) (9,639)
Depreciation and amortization (1,721) (1,918) (1,913) (1,793) (1,948)
Other operating expenses (10,254) (9,097) (9,974) (8,799) (9,123)
Operating expenses (36,942) (32,809) (34,002) (34,873) (31,138)
Operating income 32,003 29,047 23,794 19,916 21,071
Income from associates and joint ventures 218 (313) (156) (133) 285
Income from net monetary position (23,788) (21,970) (13,924) (12,432) (14,322)
Income before income tax 8,433 6,764 9,714 7,351 7,034
Income tax 7,455 (2,033) (3,223) (2,269) 4,806
Income for the period 15,888 4,731 6,492 5,082 11,840
Owners of the parent 16,014 4,911 6,458 5,072 11,838
Non-controlling interests (126) (180) 34 12 2
Other comprehensive Income (OCI)(1) (9,650) 1,554 1,415 (332) 169
Total comprehensive income 6,238 6,285 7,907 4,750 12,009
(1) Net of Income Tax.
35

Ratios

QUARTERLY ANNUALIZED RATIOS BBVA ARGENTINA CONSOLIDATED
In % ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Profitability
Efficiency Ratio 70.4% 72.2% 67.9% (180)bps 250 bps
Efficiency Ratio (excl. Inflation adjustments) 43.2% 43.3% 47.1% (10)bps (390)bps
ROA 4.6% 1.4% 3.4% 320 bps 120 bps
ROE 28.3% 9.0% 22.2% 1,930 bps 610 bps
Liquidity -
Liquid assets / Total Deposits 76.7% 79.6% 75.7% (296)bps 93 bps
Capital -
Regulatory Capital Ratio 22.88% 23.54% 23.26% (66)bps (38)bps
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 22.73% 23.31% 22.64% (58)bps 9 bps
Asset Quality -
Total non-performing portfolio / Total portfolio 1.08% 1.29% 2.49% (21)bps (141)bps
Allowances /Total non-performing portfolio 219.39% 219.73% 187.87% (34)bps 3,152 bps
Cost of Risk 1.94% 2.11% 2.61% (17)bps (67)bps
ACCUMULATED ANNUALIZED RATIOS BBVA ARGENTINA CONSOLIDATED
In % ∆ bps
2Q22 1Q22 2Q21 QoQ YoY
Profitability
Efficiency Ratio 71.30% 72.20% 70.10% (90)bps 120 bps
Efficiency Ratio (excl. Inflation adjustments) 43.30% 43.30% 48.50% - (520)bps
ROA 3.00% 1.40% 2.50% 160 bps 50 bps
ROE 18.90% 9.00% 16.50% 990 bps 240 bps
Liquidity - -
Liquid assets / Total Deposits 76.68% 79.64% 75.75% (296)bps 93 bps
Capital - -
Regulatory Capital Ratio 22.88% 23.54% 23.26% (66)bps (38)bps
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 22.73% 23.31% 22.64% (58)bps 9 bps
Asset Quality - -
Total non-performing portfolio / Total portfolio 1.08% 1.29% 2.49% (21)bps (141)bps
Allowances /Total non-performing portfolio 219.39% 219.73% 187.87% (34)bps 3,152 bps
Cost of Risk 2.03% 2.11% 2.62% (7)bps (59)bps
36

About BBVA Argentina

BBVA Argentina (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) is a subsidiary of the BBVA Group, the main shareholder since 1996. In Argentina, it is one of the leading private financial institutions since 1886. Nationwide, BBVA Argentina offers retail and corporate banking to a broad customer base, including: individuals, SME's, and large-sized companies.

BBVA Argentina's purpose is to bring the age of opportunities to everyone, based on our customers' real needs, providing the best solutions, and helping them make the best financial decisions through an easy and convenient experience. The institution relies on solid values: "The customer comes first, We think big and We are one team". At the same time, its responsible banking model aspires to achieve a more inclusive and sustainable society.

Investor Relations Contact

Ernesto Gallardo

Chief Financial Officer

Inés Lanusse

Investor Relations Officer

Belén Fourcade

Investor Relations

investorelations-arg@bbva.com

ir.bbva.com.ar

37

Disclaimer

Banco BBVA Argentina SA published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2022 20:37:02 UTC.


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Analyst Recommendations on BANCO BBVA ARGENTINA S.A.
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Financials
Sales 2022 134 B 800 M 800 M
Net income 2022 25 893 M 155 M 155 M
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 216 B 1 295 M 1 295 M
Capi. / Sales 2022 1,62x
Capi. / Sales 2023 0,57x
Nbr of Employees 5 880
Free-Float 33,9%
Chart BANCO BBVA ARGENTINA S.A.
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Technical analysis trends BANCO BBVA ARGENTINA S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 353,00 ARS
Average target price 527,67 ARS
Spread / Average Target 49,5%
Managers and Directors
MartÝn Ezequiel Zarich Chief Executive Officer
Carmen Morillo Chief Financial Officer
Maria Isabel Goiri Lartitegui Chairman
Leandro ┴lvarez Chief Engineering & Data Officer
Gustavo Siciliano Director-System & Operations
Sector and Competitors