The QoQ earnings improvement and expense control are positive, but the sharp rise in NPLs to 5.60% and declining YoY net income are concerning. Monitor upcoming months for credit quality normalization as guided by management and for the dividend payment timeline.
Price Chart
Executive Summary
Banco BBVA Argentina S.A. reported its 1Q26 earnings on May 26, 2026. Net income for the quarter was ARS 85.2 billion, up 31.2% QoQ but down 21.2% YoY. The NPL ratio worsened to 5.60% from 4.18% in 4Q25, and the coverage ratio fell to 88.4%. The bank saw a modest improvement in net interest income and controlled expenses, but credit quality deterioration and a YoY earnings decline are notable negatives.
Key Facts
- Net income of ARS 85.2 billion in 1Q26, +31.2% QoQ, -21.2% YoY
- NPL ratio rose to 5.60% from 4.18% in 4Q25; coverage ratio fell to 88.4% from 96.4%
- Net interest income of ARS 879.9 billion, +5.9% QoQ, +22.6% YoY
- ROE of 8.3% (accumulated) vs 6.5% in 4Q25; ROA of 1.2% vs 0.9%
- Private sector loans down 3.5% QoQ in real terms; deposits down 7.3% QoQ
- Regulatory capital ratio of 18.8%, excess of 128.7% over minimum requirement
- Dividend of ARS 69 billion ($63,057 million at Dec 2025 values) approved for June payment
- Cost of risk improved to 6.14% from 8.11% in 4Q25
Financial Impact
Net income of ARS 85.2 billion, 31.2% QoQ improvement but 21.2% YoY decline. NII grew 5.9% QoQ. NPL at 5.60% is a material credit quality concern.
Risk Factors
- NPL ratio rising to 5.60% with coverage falling to 88.4% signals worsening asset quality
- YoY net income decline of 21.2% and operating income down 4.8%
- Private sector loans and deposits declining QoQ in real terms indicate slowing activity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (BBAR) — Batch item 1 | 0001292814-26-003191 |
| Document: 0001292814-26-003191-index-headers.html | 0001292814-26-003192 |
| Document: 0001292814-26-003191-index.html | 0001292814-26-003191 |
| Document: 0001292814-26-003191.txt | 0001292814-26-003191 |
| 6-K Filing (BBAR) — Batch item 5 | 0001292814-26-003192 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 6-K | $12.69 $12.65 | ▼ −0.32% | ▼ −0.91% | $12.20 (−3.86%) |
Oct 2, 2026 25d ago | 6-K | $12.38 $13.27 | ▲ +7.19% | ▲ +6.51% | $12.20 (−1.45%) |
Aug 10, 2026 11w ago | 6-K | $17.27 $16.46 | ▲ +4.69% | ▲ +4.37% | $12.20 (+29.36%) |
Aug 6, 2026 11w ago | 6-K | $17.11 $17.27 | ▲ +0.94% | ▲ +0.96% | $12.20 (−28.70%) |
Jun 18, 2026 18w ago | 6-K | $20.99 $20.39 | ▼ −2.86% | ▼ −1.41% | $12.20 (−41.88%) |
Jun 11, 2026 19w ago | Institutional Cluster | $20.19 $20.62 | ▲ +2.13% | ▲ +1.59% | $12.20 (−39.57%) |
May 26, 2026 22w ago | 6-K | $17.50 $17.62 | ▲ +0.69% | ▲ +0.14% | $12.20 (−30.29%) |
May 15, 2026 23w ago | 6-K | $14.76 $13.97 | ▼ −5.35% | ▼ −4.70% | $12.20 (−17.34%) |
May 14, 2026 23w ago | 6-K | $14.81 $14.26 | ▲ +3.71% | ▲ +2.49% | $12.20 (+17.62%) |
Apr 28, 2026 26w ago | 6-K | $14.22 $14.26 | ▲ +0.28% | ▼ −0.74% | $12.20 (−14.21%) |
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