Banco BBVA Argentina (BBAR) Q2 2026 earnings summary

Executive summary

• Inflation-adjusted net income in 2Q26 was AR$131.6bn, up 44.6% QoQ and 65.2% YoY; 1H26 net income reached AR$222.6bn, up 14.0% YoY, with ROE for 2Q26 at 12.2% and ROA at 1.8%.

• Announcements and approvals of projects under the RIGI framework totaled over $15 billion, expected to boost capital inflows and strengthen the trade balance.

• Treasury extended local and foreign currency debt maturities, improved reserve levels by over $13 billion, and secured IFI-backed financing, reducing macroeconomic uncertainty.

• The bank maintained a strong market position with a 12% share in private sector lending and 9.91% in private deposits.

• Substantial improvement in net interest and fee income more than offset high credit losses.

Financial highlights

• Net interest income in 2Q26 was AR$912.2bn, up 15.4% YoY but down 2.9% QoQ; net fee income rose 42.5% YoY to AR$179.0bn.

• Operating expenses declined 7.6% YoY and 5% QoQ, supporting efficiency; efficiency ratio improved to 45% in Q2.

• Loan loss allowances increased 57.4% YoY to AR$303.8bn in 2Q26, reflecting higher retail delinquencies.

• Net loans totaled $16.4 billion, with significant growth in auto (153.38%) and mortgage (60.17%) lending YoY.

• Customer deposits reached $19.2 billion, up 10.41% YoY.

Outlook and guidance

• Inflation expected to end 2026 at 29%, with monthly inflation trending toward 1.5%-2%.

• Loan book projected to grow 10% in real terms for 2026; deposit growth expected in the 5%-10% range.

• Cost of risk expected at 6.5% for the full year, with NPL ratio to end 2026 at about 5.5%.

• Real ROE guidance remains in the low teens for 2026.

• Management highlights ongoing risks from macroeconomic volatility, inflation, and regulatory changes.