Banco BBVA Argentina (BBAR) Q4 2025 earnings summary

Executive summary

• Loan and deposit market shares increased, with loan share at 11.91% and deposit share at 10.04% in Q4 2025.

• Navigated a challenging year with political instability, interest rate volatility, and credit quality deterioration, yet maintained resilience and effective management.

• Net income for 2025 was ARS 267.4 billion (inflation-adjusted), down 43.2% year-over-year, but Q4 2025 net income was ARS 59.3 billion, up 44.5% quarter-over-quarter.

• ROE for 2025 was 7.3%, with Q4 ROE at 6.5%; ROA for 2025 was 1.1%, with Q4 ROA at 0.9%.

• Completed the acquisition of 50% of FCA Compañía Financiera in December 2025, impacting loan and deposit figures.

Financial highlights

• Net interest income for 2025 decreased 29.4% year-over-year, but Q4 NII rose 20.2% quarter-over-quarter.

• Net fee income increased 36.9% year-over-year; in Q4 2025, it grew 62.8% year-over-year but declined 10.2% sequentially.

• Loan loss allowances rose 181.2% year-over-year and 31.3% quarter-over-quarter in 2025.

• Operating expenses for 2025 were ARS 2.14 trillion, down 1.9% year-over-year; Q4 2025 expenses were ARS 537.5 billion, up 0.8% quarter-over-quarter.

• 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 system growth.

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

• ROE guidance for 2026 remains in the low to mid-teens.

• Efficiency ratio targeted around 46% for 2026.

• Inflation expected at 22%, GDP growth at 3% for 2026.