2023-03-07 09:53:43 ET
Banco BBVA Argentina ( NYSE: BBAR ) Q4 earnings gained on higher interest income, driven by a higher monetary policy rate.
"It is worth mentioning that on 4Q22, income from net monetary position decreased 12.0% given a lower quarterly inflation which changed from 22.0%1 in 3Q22 to 17.3%1 in the fourth quarter of the year," the company said.
Q4 net interest income of AR$106.1B (US$530M) climbed 18% from AR$89.8B in Q3 and 62% from AR$65.4B in Q4 2021.
Q4 net fee income of AR$10.2B dropped 4.9% Q/Q and 10% Y/Y.
Q4 loan loss allowance of AR$7.35B increased from AR$4.81B in Q3 and from AR$865M in Q4 2021.
Net operating income increased 10% Q/Q and 44% Y/Y to AR$119.1B.
Operating expenses of AR$57.5B increased 12% Q/Q and 18% Y/Y.
Total net loans and other financing, inflation adjusted, of AR$717.1B increased from AR$670.8B at the end of Q3.
Total consolidated deposits, inflation adjusted, of AR$1.31T in Q4 increased from AR$1.25T in Q3.
Conference call at 10:00 AM ET.
Earlier, Banco BBVA Argentina ( BBAR ) reports Q4 results.
For further details see:
Banco BBVA Argentina Q4 earnings rise on higher net interest income