Banco BBVA Argentina (BBAR) Q4 2025 earnings summary

Executive summary

• Achieved solid market share gains in both loans and deposits, with loan market share at 11.91% and deposit share at 10.04% as of Q4 2025.

• Net income for 2025 was reported as ARS 267.4 billion (inflation-adjusted), down 43.2% year-over-year, while another report cited AR$470.5 billion, up 45% year-over-year; Q4 2025 net income reached ARS 59.3 billion, up 44.5% quarter-over-quarter.

• Profitability improved in Q4 2025, with annualized ROE at 12.5% and ROA at 2.0%, but full-year ROE was 7.3% and ROA 1.1%.

• Navigated a challenging environment marked by political instability, interest rate volatility, and credit quality deterioration, yet maintained NPL ratios below or near the system average.

• Secured a $150 million credit line from the International Finance Corporation to support SME financing.

Financial highlights

• Net interest income for 2025 was ARS 2.72 trillion, down 29.4% year-over-year, but Q4 saw a 20.2% sequential increase to ARS 758.9 billion.

• Net fee income rose 36.9% year-over-year to ARS 509.0 billion, with Q4 up 62.8% year-over-year but down 10.2% sequentially.

• Loan loss allowances increased 181.2% year-over-year to ARS 805.1 billion, reflecting higher provisioning needs.

• Operating expenses for 2025 were ARS 2.14 trillion, down 1.9% year-over-year; Q4 expenses were ARS 537.5 billion, up 31.3% sequentially.

• Efficiency ratio improved to 45.9% in Q4 2025 from 57.6% in Q3 2025.

Outlook and guidance

• Loan growth guidance for 2026 is 25%-30% in real terms, above expected system growth of 18%.

• Deposit growth expected at 15%-20% in real terms, below loan growth but above system average.

• ROE guidance remains low to mid-teens for 2026, with expectations to outperform peers.

• Efficiency and disciplined expense management remain priorities.

• GDP growth forecast for 2025 is 4.5%, with inflation expected to fall to 22% in 2026.