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6-K 1 bbarpr1q26_6k.htm 6-K
 

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

 

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

 

 

For the month of May 2026

 

Commission File Number: 001-12568

 

 

BBVA Argentina Bank S.A.

(Translation of registrant’s name into English)

 

111 Córdoba Av, C1054AAA

Buenos Aires, Argentina

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F

X

  Form 40-F
 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

 

Yes
 
  No

X

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

 

Yes
 
  No

X

 

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

 

Yes
 
  No

X

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

 
 

 

 

Banco BBVA Argentina S.A.

 

 

TABLE OF CONTENTS

 

 

Item

 
   
1. Banco BBVA Argentina S.A. reports consolidated first quarter earnings for fiscal year 2026.
   
   

 

 

1Q26 Conference Call Wednesday, May 27, 2026 12:00 p.m. Buenos Aires time ––(11:00 a.m. To participate click here to register BBVA Argentina May 26th, 2026 Buenos Aires, Argentina 1Q26 Earnings Release Improvement Improvement in in net interest income net interest income thanks to thanks to lower average rateslower average rates, and better , and better net fee income net fee income on the side of on the side of expensesexpenses Operating expenses under control, Operating expenses under control,with with lower expenses due to lower turnover tax lower expenses due to lower turnover tax in line with a decline in activityin line with a decline in activity Improvements in loan loss allowances Improvements in loan loss allowances thanks to strengthened origination policiesthanks to strengthened origination policies 1 1 3 3 2 2 Highlights Highlights 1Q26 Earnings Release 1Q26 Earnings Release Operating expenses: Personnel benefits + Administrative expenses + Depreciation & Amortization + Other operating expenses Operating expenses: Personnel benefits + Administrative expenses + Depreciation & Amortization + Other operating expenses Financial margin: Net income from financial instruments at FV through P&L + Net loss from write Financial margin: Net income from financial instruments at FV through P&L + Net loss from write--down of assets at amortized costdown of assets at amortized costand fair value through OCI + Foreign exchange and gold gainsand fair value through OCI + Foreign exchange and gold gains 1Q26 Net 1Q26 Net IncomeIncome 1Q26 Highlights 1Q26 Highlights 1Q26 1Q26HighlightsHighlights Net Income Net Income ( (AR$ billionAR$ billion, , INFLATION ADJUSTED)INFLATION ADJUSTED) Macroeconomic MacroeconomicindicatorsindicatorsMarch March 31, 31, 20262026 Inflation Inflation: : 9.4%9.4%QoQQoQ, , 32.6%32.6%YoYYoY.. Official OfficialFX A 3500: FX A 3500: AR$ 1,382.7AR$ 1,382.7((--5.2% 5.2% QoQQoQ, +28.8% , +28.8% YoYYoY)) TAMAR: TAMAR: 26.3% APR26.3% APR––29.7% APY29.7% APY +31% +31% - -21%21% 1Q26 1Q26 $ $ Var Var QoQQoQ Var Var YoYYoY Net Interest Income Net Interest Income 879.9 bn 879.9 bn +5,9% +5,9% +22,6% +22,6% Net Fee Income Net Fee Income 169.8 bn 169.8 bn +16,9% +16,9% +28,3% +28,3% Loan Loss Allowances Loan Loss Allowances 244.9 bn 244.9 bn - -24,8%24,8% +92,7% +92,7% Operating Expenses Operating Expenses 587.9 bn 587.9 bn +0,1% +0,1% - -4,6%4,6% ROA ROA ROE ROE **Adjusted NIM: (Quarterly Net Interest Income **Adjusted NIM: (Quarterly Net Interest Income --Net Monetary Position Results) / Average quarterly interest earning assets.Net Monetary Position Results) / Average quarterly interest earning assets. Fees Fees--toto--expenses ratios = (Net fee Income + Rental of safe deposit boxes) / (Personnel benefits + Administrative expenses + Deprexpenses ratios = (Net fee Income + Rental of safe deposit boxes) / (Personnel benefits + Administrative expenses + Depreciation and amortization)eciation and amortization) Highlights Highlights 1Q26 Earnings Release 1Q26 Earnings Release 1Q26 Highlights 1Q26 Highlights Macroeconomic MacroeconomicindicatorsindicatorsMarch March 31, 31, 20262026 Inflation Inflation: : 9.4%9.4%QoQQoQ, , 32.6%32.6%YoYYoY.. Official OfficialFX A 3500: FX A 3500: AR$ 1,382.7AR$ 1,382.7((--5.2% 5.2% QoQQoQ, +28.8% , +28.8% YoYYoY)) TAMAR: TAMAR: 26.3% APR26.3% APR––29.7% APY29.7% APY Quarterly efficiency Ratio Quarterly efficiency Ratio (%, INFLATION ADJUSTED) (%, INFLATION ADJUSTED) Net Interest Income Net Interest Income (net of monetary position result)(net of monetary position result)& Adjusted & Adjusted NIM**NIM** (AR$ billion, INFLATION ADJUSTED) (AR$ billion, INFLATION ADJUSTED) Fees Fees--toto--Expenses Ratio Expenses Ratio (Fees / Expenses)(Fees / Expenses) (%, INFLATION ADJUSTED) (%, INFLATION ADJUSTED) Cost of Risk Cost of Risk (%, INFLATION ADJUSTED) (%, INFLATION ADJUSTED) NPL & COVERAGE NPL & COVERAGE PRIVATE LOANS PRIVATE LOANS PRIVATE DEPOSITS PRIVATE DEPOSITS PRIVATE DEPOSITS MARKET SHARE* PRIVATE DEPOSITS MARKET SHARE* **Other includes special saving accounts and Checking accounts include interest **Other includes special saving accounts and Checking accounts include interest--bearing checking bearing checking accounts.accounts. (AR$ BILLION, INFLATION ADJUSTED) (AR$ BILLION, INFLATION ADJUSTED) Lower quarterly activity with higher market share Lower quarterly activity with higher market share (%, CONSOLIDATED, (%, CONSOLIDATED, INFLATION ADJUSTEDINFLATION ADJUSTED)) C Cost of Risk: Current period loan loss allowances / Total average loans. ost of Risk: Current period loan loss allowances / Total average loans. Total average loans calculated as the average between loans at prior period end, and total loans in Total average loans calculated as the average between loans at prior period end, and total loans in the current period.the current period. *Source: Informe sobre bancos, BCRA, March 2026. *Source: Informe sobre bancos, BCRA, March 2026. Quarterly decline with higher weight of time deposits Quarterly decline with higher weight of time deposits PRIVATE LOAN AND DEPOSITS MARKET SHARE % PRIVATE LOAN AND DEPOSITS MARKET SHARE % vs 2020 vs 2020 TOTAL GROSS LOANS / TOTAL DEPOSITS TOTAL GROSS LOANS / TOTAL DEPOSITS * RPC includes 100% of quarterly results * RPC includes 100% of quarterly results CAPITAL RATIO % CAPITAL RATIO % (AR$ BILLION, INFLATION ADJUSTED) (AR$ BILLION, INFLATION ADJUSTED) *Based on daily information from BCRA. Capital balance as of last day of every quarter. Consolidates PSA, *Based on daily information from BCRA. Capital balance as of last day of every quarter. Consolidates PSA, VWFS, Rombo & FCA. 1Q25 does not include FCA.VWFS, Rombo & FCA. 1Q25 does not include FCA. Retail: consumer, mortgages, credit cards, pledge and loans to personnel. Retail: consumer, mortgages, credit cards, pledge and loans to personnel. Commercial: discounted instruments, overdrafts, financial leases, financing and prefinancing of exports, other Commercial: discounted instruments, overdrafts, financial leases, financing and prefinancing of exports, other loans.loans. BBVA loans BBVA loans BBVA deposits BBVA deposits 1Q26 Highlights 1Q26 Highlights 81% 81%82% 85%82% 85% 9,15% 10,01% 9,93% 9,15% 10,01% 9,93% 48% 44% 48% 44%45%45% TOTAL LIQUID ASSETS/ TOTAL DEPOSITS TOTAL LIQUID ASSETS/ TOTAL DEPOSITS 11,25% 12,04% 11,25% 12,04%12,15%12,15% PRIVATE LOANS MARKET SHARE* PRIVATE LOANS MARKET SHARE* +28% +28% - -3%3% +16% +16% - -9%9% +366 b +366 bpsps +280 +280 bpsbps BBVA loans BBVA loans BBVA deposits BBVA deposits 11.5% 11.5% 8% 8% System NPL* System NPL* 6.67% 6.67% Mar’26Mar’26 Buenos Aires, May 26, 2025 – Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) (“BBVA Argentina” or “BBVA” or “the Bank”) announced today its consolidated results for the first quarter (1Q26), ended on March 31, 2026.

 

 

 

 

 

 

 

 

 

 

 

Banco BBVA Argentina S.A. announces First Quarter 2025

As of January 1, 2020, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2025 and 2026 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to March 31, 2025.

1Q26 Highlights

BBVA Argentina's inflation-adjusted net income in 1Q26 was $85.2 billion, 31.2% higher than the one recorded in the fourth quarter of 2025 (4Q25), and 21.2% lower than the result reported in the first quarter of 2025 (1Q25).
In 1Q26, BBVA Argentina posted an inflation adjusted average return on equity (ROAE) of 8.3% versus 6.5% the prior quarter, and an inflation adjusted average return on assets (ROAA) of 1.2% versus 0.9% the prior quarter.
The 1Q26 total NIM was 18.6% versus 17.5% in 4Q25. NIM in local currency was 22.3% and NIM in USD was 4.1%.
In terms of activity, total consolidated financing to the private sector in 1Q26 totaled $15.7 trillion, decreasing 3.5% in real terms compared to 4Q25, and increasing 28.1% compared to 1Q25, both in real terms. BBVA’s market share was 12.15% in 1Q26, increasing 11 bps Quarter-over-Quarter (QoQ) and 95 bps Year-over-Year (YoY).
Total consolidated deposits in 1Q26 totaled $17.5 trillion, decreasing 7.3% in real terms during the quarter, and increasing 20.0% YoY. The Bank’s consolidated market share of private deposits reached 9.93% as of 1Q26, falling 8 bps QoQ and increasing 78 bps YoY.
As of 1Q26, the non-performing loan ratio (NPL) reached 5.60%, with an 88.41% coverage ratio.
The quarterly efficiency ratio in 1Q26 was 51,4%.
As of 1Q26, BBVA Argentina reached a regulatory capital ratio of 18.8% (Tier 1: 18.8%), entailing a 128.7% excess over minimum regulatory requirement.
Total liquid assets represented 45,5% of the Bank’s total deposits as of 1Q26, above the 44,2% reported in 4Q25 and below the 47.6% reported in 1Q25.
 
  1Q26 Earnings Release p.2 
     

 

Message from the CFO

“During the first quarter of the year, BBVA Argentina’s business model demonstrated resilience in an operating environment that continues to be challenging. The Bank recorded a net income of $85.2 billion, representing a 31.2% increase compared to the previous quarter and an 8.3% quarterly ROE, reflecting the institution’s ability to generate value in transitional contexts.

In a quarter in which commercial activity within the financial system declined slightly, in line with market trends and the seasonality of the quarter, BBVA Argentina managed to maintain its market share gain trend up to 12.15%, even after a very strong end to 2025, mainly driven by demand for commercial loans.

This progress is consistent with our strategic determination to play a leading role in the Argentine financial system and to lead credit supply as the cycle normalizes.

During the quarter, volatility in interest rates declined, while rates maintained the downward trend that began following the midterm elections. The Central Bank continued unraveling the prudential measures implemented in the third quarter of last year and began successfully executing the reserve purchase plan announced last December.

Likewise, the government continued advancing its structural economic reform plan, managing to approve important initiatives such as the Labor Reform, the amendment to the Glacier Law, and the 2026 Budget. The Incentive Regime for Large Investments (RIGI) continued attracting investment projects, and a second phase has recently been announced focusing on productive sectors with little or no presence in the country.

The trade balance for the first quarter reached USD 5.5 billion, multiplying by five the balance from the previous year, with record exports in the energy sector. At the same time, Argentine companies and provinces have secured financing in international capital markets exceeding USD 10 billion in recent months. Fitch recently announced an upgrade to the country’s sovereign rating. All of this has occurred in a context of fiscal and monetary discipline, while April inflation data once again showed signs of deceleration.

This evolution allows us to remain optimistic regarding the potential path of credit recovery in the coming quarters and a reversal in the trend of credit quality indicators that have affected both the Bank and the financial system during recent quarters.

The positive evolution of the Bank’s results, even in a quarter in which inflation was higher, responds both to the strong performance of revenues and to the control of recurring expenses and improved cost of risk performance, which, although still at elevated levels, reflects a reduction compared to the previous quarter.

Net interest income increased by 5.9%, supported by the faster decline in funding costs in a context of falling interest rates and by efficient management of origination pricing. Fees maintained positive performance even in a quarter of lower activity, while expenses, net of non-recurring impacts, declined slightly during the period.

Regarding asset quality, although BBVA's non-performing loan ratio continued to rise to 5.6%, this growth was lower than what occurred at the systemic level, and this value remains among the lowest in the financial system. In this regard, we understand that the precautionary measures and strict origination criteria implemented by the Bank would allow for a normalization trend to begin in the coming quarters.

BBVA Argentina currently has the necessary tools to lead the market, supported by robust liquidity and capital levels. The Common Equity Tier 1 capital ratio stands at 18.8%, placing it at appropriate levels to sustain our growth strategy. Within this framework of strength, the Shareholders’ Meeting approved a dividend distribution of $63,057 million (at December 2025 values), which would become effective starting in June.

Within this framework of strength, BBVA Argentina has all the necessary tools to lead the market. In light of the context of fiscal and monetary discipline and the potential path of credit recovery in the coming quarters, we move forward with optimism and determination to consolidate our role and lead credit supply in the Argentine financial system ”

Carmen Morillo Arroyo, CFO at BBVA Argentina

 
  1Q26 Earnings Release p.3 
     

Safe Harbor Statement

This press release contains certain forward-looking statements that reflect the current views and/or expectations of Banco BBVA Argentina and its management with respect to its performance, business and future events. We use words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “seek,” “future,” “should” and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) changes in general economic, financial, business, political, legal, social or other conditions in Argentina or elsewhere in Latin America or changes in either developed or emerging markets, (ii) changes in regional, national and international business and economic conditions, including inflation, (iii) changes in interest rates and the cost of deposits, which may, among other things, affect margins, (iv) unanticipated increases in financing or other costs or the inability to obtain additional debt or equity financing on attractive terms, which may limit our ability to fund existing operations and to finance new activities, (v) changes in government regulation, including tax and banking regulations, (vi) changes in the policies of Argentine authorities, (vii) adverse legal or regulatory disputes or proceedings, (viii) competition in banking and financial services, (ix) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of Banco BBVA Argentina, (x) increase in the allowances for loan losses, (xi) technological changes or an inability to implement new technologies, (xii) changes in consumer spending and saving habits, (xiii) the ability to implement our business strategy and (xiv) fluctuations in the exchange rate of the Peso. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Banco BBVA Argentina’s filings with the U.S. Securities and Exchange Commission (SEC) and Comisión Nacional de Valores (CNV). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. Banco BBVA Argentina is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Information

This earnings release has been prepared in accordance with the accounting framework established by the Central Bank of Argentina (“BCRA”), based on International Financial Reporting Standards (“I.F.R.S.”) and the resolutions adopted by the International Accounting Standards Board (“I.A.S.B”) and by the Federación Argentina de Consejos Profesionales de Ciencias Económicas (“F.A.C.P.E.”), and with the the exclusion of the application of the IFRS 9 impairment model for non-financial public sector debt instruments.

The information in this press release contains unaudited financial information that consolidates, line item by line item, all of the banking activities of BBVA Argentina, including: BBVA Asset Management Argentina S.A.U. Sociedad Gerente de Fondos Comunes de Inversión y Agente de Liquidación y Compensación Integral, Consolidar AFJP-undergoing liquidation proceeding, PSA Finance Argentina Compañía Financiera S.A. (“PSA”) , Volkswagen Financial Services Compañía Financiera S.A (“VWFS”) and FCA Compañía Financiera S.A. ("FCA").

BBVA Seguros Argentina S.A. is disclosed on a consolidated basis recorded as Investments in associates (reported under the proportional consolidation method), and the corresponding results are reported as “Income from associates”), same as Rombo Compañía Financiera S.A. (“Rombo”), Play Digital S.A. (“MODO”), Openpay Argentina S.A. and Interbanking S.A.

Financial statements of subsidiaries have been elaborated as of the same dates and periods as Banco BBVA Argentina S.A.’s. In the case of consolidated companies PSA, VWFS and FCA, financial statements were prepared considering the B.C.R.A. accounting framework for institutions belonging to “Group C”, considering the model established by the IFRS 9 5.5. “Impairment” section for periods starting as of January 1, 2022, excluding debt instruments from the non-financial public sector.

The information published by the BBVA Group for Argentina is prepared according to IFRS, without considering the temporary exceptions established by BCRA.

 

 
  1Q26 Earnings Release p.4 
     

 

Quarterly Results

INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Net Interest Income   879,880   830,597   717,834  5.9%   22.6%
Net Fee Income   169,784   145,296   132,330   16.9%   28.3%
Net income from measurement of financial instruments at fair value through P&L  21,210 8,987  42,701 136.0% (50.3%)
Net income from write-down of assets at amortized cost and at fair value through OCI   (2,759)  57,561   106,274  (104.8%)  (102.6%)
Foreign exchange and gold gains  53,327  61,121  10,786 (12.8%) 394.4%
Other operating income  65,591  90,074  51,463 (27.2%)   27.5%
Loan loss allowances  (244,848)  (325,411)  (127,077)   24.8% (92.7%)
Net operating income   942,185   868,225   934,311  8.5%  0.8%
Personnel benefits  (186,502)  (149,109)  (160,702) (25.1%) (16.1%)
Adminsitrative expenses  (166,318)  (158,791)  (194,064)   (4.7%)   14.3%
Depreciation and amortization (32,151) (35,281) (27,593)  8.9% (16.5%)
Other operating expenses  (202,955)  (245,065)  (179,663)   17.2% (13.0%)
Operarting expenses  (587,926)  (588,246)  (562,022)  0.1%   (4.6%)
Operating income   354,259   279,979   372,289   26.5%   (4.8%)
Income from associates   (3,754) 3,265 981  (215.0%)  (482.7%)
Income from net monetary position  (218,530)  (172,866)  (198,437) (26.4%) (10.1%)
Net income before income tax   131,975   110,378   174,833   19.6% (24.5%)
Income tax (46,751) (45,437) (66,616)   (2.9%)   29.8%
Net income for the period  85,224  64,941   108,217   31.2% (21.2%)
Owners of the parent  78,421  58,932   104,006   33.1% (24.6%)
Non-controlling interests 6,803 6,009 4,211   13.2%   61.6%
           
Other comprehensive Income (OCI) (1)  59,916   250,819  (145,660) (76.1%) 141.1%
Total comprehensive income   145,140   315,760 (37,443) (54.0%) 487.6%
           
(1) Net of Income Tax.          

As of 1Q26, BBVA Argentina achieved a net income of $85.2 billion, representing an increase of 31.2% for the quarter and a decrease of 21.2% versus 1Q25. The ROE for the quarter reached 8.3%, and the ROA 1.2%.

The 31.2% increase in the quarter's results is mainly explained by higher operating income, with expenses remaining stable overall. The increase in income is explained by (i) lower loan loss allowances, (ii) better net interest income, and (iii) improvements in fee income.

While net interest income benefited from the lower rate environment, with deposits renewing at higher rates faster than assets; fees continued the positive trend started several quarters ago.

The reduction in loan loss allowances is explained both by (i) the strengthening of origination and restructuring policies that have allowed the reinforcement of customers' credit profiles, and (ii) by improvements in the ratings of certain commercial groups.

Although personnel expenses increased 25.1% in the quarter, excluding non-recurring factors, they would have fallen slightly in the period of analysis. The item of Other operating expenses fell by 17.2%, mainly reflecting the lower impact of the turnover tax, due to lower activity and lower rates. Lower charges from results from initial loss of loans below market rate were also observed there, as a result of the lower seasonality of credit card promotions in the first quarter, compared to the fourth quarter of each year.

Net income from the net monetary position was 26.8% higher QoQ, in a context of increasing inflation (9.44% versus 7.86% in 4Q251).

 


1 Source: Instituto Nacional de Estadística y Censos (INDEC)

 
  1Q26 Earnings Release p.5 
     

It is important to mention that the incorporation of FCA Compañía Financiera was made at a balance sheet level on December 31, 2025, but not in the income statement. As of January 2026, FCA consolidates line by line, the same way as VWFS and PSA do.

OTHER COMPREHENSIVE INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Net income for the period  85,224  64,941   108,217   31.2% (21.2%)
Other comprehensive income components to be reclassified to income/(loss) for the period          
Profit or losses from hedge instruments - Cashflow hedge   76 - -  N/A  N/A
Profit or losses from hedge instruments 117 - -  N/A  N/A
Income tax  (41) - -  N/A  N/A
Profit or losses from financial isntruments at fair value through OCI  60,431   250,000  (147,831) (75.8%) 140.9%
Profit or losses from financial instruments at fair value through OCI  90,155   442,177  (121,158) (79.6%) 174.4%
Reclassification adjustment for the period 2,816 (57,561)  (106,274) 104.9% 102.6%
Income tax (32,540)  (134,616)  79,601   75.8%  (140.9%)
Other comprehensive income coponents not to be reclassified to income/(loss) for the period        
Income or loss on equity instruments at fair value through OCI   (591) 819 2,171  (172.2%)  (127.2%)
Resultado por instrumentos de patrimonio a VR con cambios en ORI   (591) 819 2,171  (172.2%)  (127.2%)
Total Other Comprehensive Income/(loss) for the period  59,916   250,819  (145,660) (76.1%) 141.1%
Total Comprehensive Income   145,140   315,760 (37,443) (54.0%) 487.6%
Attributable to owners of the Parent   138,295   309,751 (41,655) (55.4%) 432.0%
Attributable to non-controlling interests 6,845 6,009 4,212   13.9%   62.5%

The Other Comprehensive Income (OCI) line totaled a gain of $59.9 billion in 1Q26, resulting from the improvement in the valuation of financial instruments at fair value (FV) with changes in OCI.

EARNINGS PER SHARE BBVA ARGENTINA CONSOLIDATED
        ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Financial Statement information          
Net income for the period attributable to owners of the parent (in AR$ millions, inflation adjusted)  78,421  53,848  78,432   45.6%   (0.0%)
Total shares outstanding (1)  612,710,079  612,710,079  612,710,079   -   -
Market information          
Closing price of ordinary share at BYMA (in AR$)  7,940.00  9,140.00  7,750.00 (13.1%)  2.5%
Closing price of ADS at NYSE (in USD) 16.10 18.10 18.10 (11.1%) (11.4%)
Book value per share (in AR$) 6,357 5,603 4,518 13.5% 40.7%
Price-to-book ratio (BYMA price) (%)   1.25   1.63   1.72 (23.4%) (27.2%)
Earnings per share (in AR$) 128   88 128   45.6%   -
Earnings per ADS (1) in ARS 384 264 384   45.6%   -
Market Cap (USD millions) 3,280 3,691 3,701 (11.1%) (11.4%)
           
(1) Each ADS accounts for 3 ordinary shares          
Book value, Equity and Results not adjusted by inflation          


 
  1Q26 Earnings Release p.6 
     

Net Interest Income

NET INTEREST INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Net Interest Income 879,880 830,597 717,834  5.9%   22.6%
Interest Income 1,528,705 1,716,416 1,217,424 (10.9%)   25.6%
From government securities 237,772 290,689 224,307 (18.2%)  6.0%
From private securities  925  1,417  952 (34.7%)   (2.8%)
Interest from loans and other financing 1,088,733 1,246,179 846,256 (12.6%)   28.7%
Financial Sector  19,013  31,955 8,684 (40.5%)   118.9%
Overdrafts   100,788   147,950  79,357 (31.9%)  27.0%
Discounted Instruments   274,922   316,855   220,523 (13.2%)  24.7%
Mortgage loans  13,648  12,909 6,915 5.7%  97.4%
Pledge loans  57,639  49,899  31,305  15.5%  84.1%
Consumer Loans   192,921   213,987   182,686   (9.8%) 5.6%
Credit Cards   216,924   250,484   190,336 (13.4%)  14.0%
Financial leases 4,552 5,154 4,348 (11.7%) 4.7%
Loans for the prefinancing and financing of exports  36,890  42,250  15,149 (12.7%)   143.5%
Other loans   171,436   174,736   106,953   (1.9%)  60.3%
Premiums on reverse REPO transactions  270 35  -  n.m  N/A
CER/UVA clause adjustment 183,868 156,455 141,707   17.5%   29.8%
Other interest income   17,137   21,641  4,202 (20.8%) 307.8%
Interest expenses 648,825 885,819 499,590 (26.8%)   29.9%
Deposits 541,367 763,461 443,873 (29.1%)   22.0%
Checking accounts*  65,493   101,043  69,859 (35.2%)   (6.2%)
Savings accounts 2,513 2,015 2,383  24.7% 5.5%
Time deposits   473,060   660,098   294,404 (28.3%)  60.7%
Investment accounts 301 305  77,227   (1.3%) (99.6%)
Other liabilities from financial transactions   49,321   46,494   24,237  6.1% 103.5%
Interfinancial loans received   37,345   46,532   22,564 (19.7%)   65.5%
Premiums on  REPO transactions   12,998   21,187  2,018 (38.7%)  n.m
Guaranteed securities loans  4,071  6,670  1,065 (39.0%) 282.3%
CER/UVA clause adjustment  3,723  1,475  5,833 152.4% (36.2%)
Other interest expense  -  -  -  N/A  N/A
*Includes interest-bearing checking accounts          

Net interest income for 1Q26 amounted to $879.9 billion, an increase of 5.9% compared to 4Q25 and 22.6% compared to 1Q25. In 1Q26, interest income decreased to a lesser extent than expenses, in monetary and percentage terms.

The downward trend in interest rates (the average TAMAR rate recorded a 640 bps decrease compared to 4Q25, reaching 31.9%) allowed interest expenses to continue decreasing at a faster pace than income, due to the shorter average life of liabilities.

On the other hand, income with UVA adjustment began to reflect the increase in higher inflation rates in recent months, growing 17.5% in the period. The CER index accrued by products with this adjustment is recorded with a certain lag. 52% of interest income from CER/UVA adjustments is explained by the interest generated by CPI-linked securities, while 48% is explained by loans.

Interest income from loans decreased by 12.6% QoQ to $1.1trillion, affected by the drop in the average TAMAR rate, impacting short-term products.

Income from government securities fell 18.2% in 1Q26, with 96% of income coming from fair value through OCI (Other Comprehensive Income) securities.

 
  1Q26 Earnings Release p.7 
     

Interest expenses totaled $648.8 billion, falling 26.8% in 1Q26 (due to lower expenses from time deposits and current accounts). Interest on time deposits (73.0% of total expenses) fell 28.3%.

NIM

In 1Q26, the total net interest margin (NIM) was 18.6%, higher than the 17.5% of 4Q25 and below the 19.2% of 1Q25. While the NIM in pesos increased 210 bps to 22.3% due to a higher speed in the reduction of passive rates, the NIM in dollars fell 110 bps to 4.1% due to increased competition for loans in foreign currency.

The quarter again showed a greater weight of dollar-earning assets in the mix.

As highlighted in the graphs accompanying the first section of this document, the NIM net of the net result from the monetary position has remained relatively stable over the last quarters.

ASSETS & LIABILITIES PERFORMANCE - TOTAL BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %                
  1Q26 4Q25 1Q25
  Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets 19,155,715   1,527,638 32.3% 18,726,359   1,712,360 36.3% 15,153,977   1,217,424 32.6%
Debt securities   3,752,653  333,337 36.0%   3,789,751  383,816 40.2%   3,684,374  330,013 36.3%
Loans to customers/financial institutions 15,254,892   1,193,967 31.7% 14,697,196   1,328,480 35.9% 11,264,783  887,411 31.9%
Loans to the BCRA   795 85 43.4%   667 50 29.7%   750   -  -
Other assets  147,375   249 0.7%  238,745 14 0.0%  204,070   -  -
Total non interest-earning assets   6,647,147   1,067 0.1%   7,404,044   4,056 0.2%   6,607,712  -  -
Total Assets 25,802,862   1,528,705 24.0% 26,130,403   1,716,416 26.1% 21,761,689   1,217,424 22.7%
Total interest-bearing liabilities 16,435,112  648,825 16.0% 16,866,051  885,819 20.8% 12,481,285  499,590 16.2%
Savings accounts   5,892,716   4,232 0.3%   5,973,871   3,141 0.2%   5,300,850   2,396 0.2%
Time deposits and investment accounts   7,297,191  477,082 26.5%   7,376,866  661,880 35.6%   5,240,983  377,463 29.2%
Debt securities issued  632,047 20,475 13.1%  511,247 14,610 11.3%  219,049 12,872 23.8%
Other liabilities   2,613,158  147,036 22.8%   3,004,067  206,188 27.2%   1,720,403  106,859 25.2%
Total non-interest-bearing liabilities   9,367,750  -  -   9,264,352 -  -   9,280,404  -  -
Total liabilities and equity 25,802,862  648,825 10.2% 26,130,403  885,819 13.4% 21,761,689  499,590 9.3%
                   
NIM - Total     18.6%     17.5%     19.2%
Spread - Total     16.3%     15.4%     16.3%
                   
                   
Nominal rates are calculated over a 365-day year                  
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI      
Interest-bearing checking accounts included in other interest-bearing liabilities. Non interest-bearing accounts are included in non-interest-bearing liabilities.          
Non.interest earning assets include all assets that do not have an impact in the interest margin.                  

 

ASSETS & LIABILITIES PERFORMANCE - ARS BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %                
  1Q26 4Q25 1Q25
  Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets 15,250,336   1,470,270 39.1% 15,448,017   1,653,486 42.5% 12,922,925   1,192,952 37.4%
Debt securities   3,693,493  332,952 36.6%   3,752,726  383,224 40.5%   3,581,340  329,327 37.3%
Loans to customers/financial institutions 11,490,298   1,136,991 40.1% 11,495,293   1,270,212 43.8%   9,136,841  863,625 38.3%
Loans to the BCRA   765 85 45.1%   659 50 30.1%   747  -  -
Other assets 65,780   242 1.5%  199,339  -  -  203,997  -  -
Total non interest-earning assets   3,063,643  -  -   3,213,225 -  -   3,488,873 -  -
Total Assets 18,313,979   1,470,270 32.6% 18,661,242   1,653,486 35.2% 16,411,798   1,192,952 29.5%
Total interest-bearing liabilities 10,077,146  631,091 25.4% 10,587,333  866,754 32.5%   8,294,832  496,825 24.3%
Savings accounts   1,389,130   2,440 0.7%   1,441,889   1,935 0.5%   1,531,462   2,323 0.6%
Time deposits and investment accounts   5,962,328  469,034 31.9%   6,187,537  653,518 41.9%   4,913,102  376,704 31.1%
Debt securities issued  369,838 20,475 22.5%  290,735 14,610 19.9%  200,304 12,872 26.1%
Other liabilities   2,355,850  139,142 24.0%   2,667,172  196,691 29.3%   1,649,964  104,926 25.8%
Total non-interest-bearing liabilities   8,178,144  -  -   8,084,003 -  -   8,003,359 -  -
Total liabilities and equity 18,255,290  631,091 14.0% 18,671,336  866,754 18.4% 16,298,191  496,825 12.4%
                   
NIM - Total     22.3%     20.2%     21.8%
Spread - Total     13.7%     10.0%     13.1%
                   
                   
Nominal rates are calculated over a 365-day year                  
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI      
Interest-bearing checking accounts included in other interest-bearing liabilities. Non interest-bearing accounts are included in non-interest-bearing liabilities.          
Non.interest earning assets include all assets that do not have an impact in the interest margin.                  
 
  1Q26 Earnings Release p.8 
     
ASSETS & LIABILITIES PERFORMANCE - USD BBVA ARGENTINA CONSOLIDATED
In millions of AR$. Rates and spreads in annualized %                
  1Q26 4Q25 1Q25
  Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate Average Balance Interest Earned/Paid Average Real Rate
Total interest-earning assets   3,905,379 57,368 6.0%   3,278,342 58,874 7.1%   2,231,052 24,472 4.4%
Debt securities 59,160   385 2.6% 37,025   592 6.3%  103,034   686 2.7%
Loans to customers/financial institutions   3,764,594 56,976 6.1%   3,201,903 58,268 7.2%   2,127,942 23,786 4.5%
Loans to the BCRA 30   -  -   8  -  -   3 -  -
Other assets 81,595   7 0.0% 39,406 14 0.1% 73 -  -
Total non interest-earning assets   3,583,504   1,067  -   4,190,819   4,056 0.4%   3,118,839   -  -
Total Assets   7,488,883 58,435 3.2%   7,469,161 62,930 3.3%   5,349,891 24,472 1.9%
Total interest-bearing liabilities   6,357,966 17,734 1.1%   6,278,718 19,065 1.2%   4,186,453   2,765 0.3%
Savings accounts   4,503,586   1,792 0.2%   4,531,982   1,206 0.1%   3,769,388 73 0.0%
Time deposits and investment accounts   1,334,863   8,048 2.4%   1,189,329   8,362 2.8%  327,881   759 0.9%
Debt securities issued  262,209   -  -  220,512  -  - 18,745 -  -
Other liabilities  257,308   7,894 12.4%  336,895   9,497 11.2% 70,439   1,933 11.1%
Total non-interest-bearing liabilities   1,189,606  -  -   1,180,349 -  -   1,277,045   -  -
Total liabilities and equity   7,547,572 17,734 1.0%   7,459,067 19,065 1.0%   5,463,498   2,765 0.2%
                   
NIM - Total     4.1%     4.8%     3.9%
Spread - Total     4.8%     5.9%     4.2%
                   
                   
Nominal rates are calculated over a 365-day year                  
Does not include Net income from measurement of financial instruments at fair value through P&L nor Net income from write-down of assets at amortized cost and at fair value through OCI      
Interest-bearing checking accounts included in other interest-bearing liabilities. Non interest-bearing accounts are included in non-interest-bearing liabilities.          
Non.interest earning assets include all assets that do not have an impact in the interest margin.                  

 

 
  1Q26 Earnings Release p.9 
     

 

Net Fee Income

NET FEE INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Net Fee Income   169,784   145,296   132,330   16.9%   28.3%
Fee Income   247,812   250,350   239,521   (1.0%)  3.5%
Linked to liabilities  60,006  58,098  63,830  3.3%   (6.0%)
From credit cards (1)   140,270   144,856   123,072   (3.2%)   14.0%
Linked to loans  25,187  23,951  25,773  5.2%   (2.3%)
From insurance 8,389 8,437 8,588   (0.6%)   (2.3%)
From foreign trade and foreign currency transactions  10,213  10,149 8,029  0.6%   27.2%
Linked to loan commitments  -   53 1,774  (100.0%)  (100.0%)
From guarantees granted 157 131   95   19.8%   65.3%
Linked to securities 3,590 4,675 8,360 (23.2%) (57.1%)
Fee expenses  78,028   105,054   107,191 (25.7%) (27.2%)
           
 (1) Includes results from Puntos BBVA royalty program pursuant to IFRS 15 regulation.        

Net fee income in 1Q26 totaled $169.8 billion, an increase of 16.9% compared to 4Q25 and 28.3% compared to 1Q25. Although this figure includes some positive one-off impacts in the quarter, it is important to note that, even without these effects, the evolution would have been slightly positive. This, in a quarter with low seasonality due to lower commercial activity, reinforces the growth process that the entity has been showing in this line item for several quarters.

Net Income from Measurement of Financial Instruments at Fair Value and Foreign Exchange and Gold Gains/Losses

NET INCOME FROM FINANCIAL INSTRUMENTS AT FAIR VALUE (FV) THROUGH P&L BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Net Income from financial instruments at FV through P&L  21,210 8,987  42,701 136.0% (50.3%)
Income from government securities  22,229 4,168  40,566 433.3% (45.2%)
Income from private securities 6,022 8,964 1,271 (32.8%) 373.8%
Interest rate swaps   (1) 1,904   (491)  (100.1%)   99.8%
Income from foreign currency forward transactions  (7,099)   (6,320) 1,355 (12.3%)   n.m  
Income from corporate bonds   26   28 -   (7.1%)   N/A  
Other   33 243 - (86.4%)   N/A  

In 1Q26, the net income from the measurement of financial instruments valued at fair value with changes in results was $21.2 billion, increasing 136.0% mainly due to larger trading positions and the positive evolution of sovereign bond prices.

DIFFERENCES IN QUOTED PRICES OF GOLD AND FOREIGN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Foreign exchange and gold gains/(losses) (1)           53,327           61,121           10,786          (12.8%)          394.4%
From foreign exchange position            (2,274)            (9,563)          (14,539)            76.2%            84.4%
Income from purchase-sale of foreign currency           55,601           70,684           25,325          (21.3%)          119.5%
Net income from financial instruments at FV through P&L (2)            (7,099)            (6,320)             1,355          (12.3%)   n.m  
Income from foreign currency forward transactions            (7,099)            (6,320)             1,355          (12.3%)   n.m  
Total differences in quoted prices of gold & foreign currency (1) + (2)           46,228           54,801           12,141          (15.6%)          280.8%

The total result of foreign currency exchange difference generated a gain of $53.3 billion in 1Q26, decreasing by 12.8% in the quarter.

 
  1Q26 Earnings Release p.10 
     

The quarterly drop in exchange difference is mainly explained by a lower volume of buying and selling activity, compared to a fourth quarter with greater hedging activity prior to the mid-term elections, and also partly, by the 5.5% appreciation of the Argentine peso.

Other Operating Income

OTHER OPERATING INCOME BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Operating Income  65,591  90,074  51,463 (27.2%)   27.5%
Rental of safe deposit boxes (1)  12,009  10,922  10,192   10.0%   17.8%
Adjustments and interest on miscellaneous receivables (1) 9,470  15,519  12,183 (39.0%) (22.3%)
Punitive interest (1)  10,462  10,235 4,773  2.2% 119.2%
Loans recovered 3,803  19,820 4,089 (80.8%)   (7.0%)
Fee income from credit and debit cards (1) 9,284 8,703 8,444  6.7%  9.9%
Fee expenses recovery 2,151 2,252 2,017   (4.5%)  6.6%
Rents 2,411 2,684 2,385 (10.2%)  1.1%
Sindicated transaction fees 1,305 812 515   60.7% 153.4%
Disaffected provisions 123   22 2,246 459.1% (94.5%)
Recovery of impairment loss -  10,674 -  (100.0%)   N/A  
Other Operating Income(2)  14,573 8,431 4,619   72.9% 215.5%
(1) Included in the efficiency ratio calculation          
(2) Includes some of the concepts used in the efficiency ratio calculation          

In 1Q26, the other operating income line totaled $65.6 billion, falling 27.2% QoQ, and increasing 27.5% YoY. The lower result in recovered loans is explained by higher income in 4Q25, related to a significant recovery with a commercial portfolio client.

 
  1Q26 Earnings Release p.11 
     

 

Operating Expenses

Personnel Benefits & Administrative Expenses

PERSONNEL BENEFITS & ADMINISTRATIVE EXPENSES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Total Personnel Benefits and Adminsitrative Expenses   352,820   307,900   354,766   14.6%   (0.5%)
Personnel Benefits (1)   186,502   149,109   160,702   25.1%   16.1%
Administrative expenses (1)   166,318   158,791   194,064  4.7% (14.3%)
Travel expenses 1,359 2,271 1,354 (40.2%)  0.4%
Outsourced administrative expenses  23,015  22,550  35,939  2.1% (36.0%)
Security services 4,116 6,298 8,324 (34.6%) (50.6%)
Fees to Bank Directors and Supervisory Committee 239 380 236 (37.1%)  1.3%
Other fees 8,675 8,363 6,647  3.7%   30.5%
Insurance 1,746 1,453 1,797   20.2%   (2.8%)
Rent  24,170  19,025  19,009   27.0%   27.2%
Stationery and supplies 188 566 257 (66.8%) (26.8%)
Electricity and communications 7,353 8,132 6,918   (9.6%)  6.3%
Advertising  11,733  11,013  17,872  6.5% (34.3%)
Taxes  20,994  21,654  23,576   (3.0%) (11.0%)
Maintenance costs  16,939  17,490  15,917   (3.2%)  6.4%
Armored transportation services  13,718  13,641  27,281  0.6% (49.7%)
Software  13,525 9,127 5,754   48.2% 135.1%
Document distribution 4,510 6,376 7,536 (29.3%) (40.2%)
Commercial reports 4,791 1,019 7,032 370.2% (31.9%)
Other administrative expenses 9,247 9,433 8,615   (2.0%)  7.3%
Headcount*          
BBVA (Bank) 6,408 6,583 6,301   (175) 107
Subsidiaries (2) 147 104 100   43   47
Total employees* 6,555 6,687 6,401   (132) 154
           
Number of branches*** 234 234 235 - (1)
Own 120 120 118 -  2
Rented 114 114 117 - (3)
           
Efficiency Ratio          
Efficiency Ratio 51.4% 45.9% 56.3% 545 pbs   (496)pbs
Accumulated Efficiency Ratio 51.4% 53.9% 56.3%   (250)pbs   (490)pbs
           
(1) Concept included in the efficiency ratio calculation          
(2) Includes BBVA Asset Management, PSA & VWFS. Employees included in Main Office.          
*Total effective employees, net of temporary contract employees. Expatriates excluded.          
**Branch employees + Business Center managers          
***Excludes administrative branches          

In 1Q26, personnel benefits and administrative expenses totaled $352.8 billion, increasing 14.6% QoQ, and falling slightly 0.5% YoY in real terms.

Regarding personnel benefits, although an increase of 25.1% is observed, this figure incorporates non-recurring expenses for severance payments. Excluding these expenses, and neutralizing other specific and seasonal effects of the fourth quarter, expenses would have experienced a slight decrease in real terms.

Administrative expenses rose 4.7% in 1Q26, mainly in the lines of rent, software, and commercial reports, the first two associated with expenses related to the parent company, which had a greater seasonal impact in the first quarter. This was offset by a decrease in the document distribution line. In general terms, expenses are expected to reflect a favorable behavior throughout the year, associated with the efficiency and expense control measures that the Bank is implementing The quarterly efficiency ratio for 1Q26 was 51.4%, above the 45.9% of 4Q25 and below the 56.3% registered in 1Q25.

 
  1Q26 Earnings Release p.12 
     

The quarterly deterioration is explained both by the aforementioned increase in expenses and the greater loss from the net monetary position in the quarter.

Other Operating Expenses

OTHER OPERATING EXPENSES BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Other Operating Expenses   202,955   245,065   179,663 (17.2%)   13.0%
Turnover tax (1)   147,739   165,800   117,677 (10.9%)   25.5%
Initial loss of loans below market rate (1)  24,610  36,709  28,929 (33.0%) (14.9%)
Contribution to the Deposit Guarantee Fund (SEDESA) (1) 7,364 7,301 5,929  0.9%   24.2%
Interest on liabilities from financial lease 1,412 1,501 1,354   (5.9%)  4.3%
Other allowances 2,272 1,497 9,059   51.8% (74.9%)
Loss for sale or devaluation of investment properties and other non-financial assets - 1,119 -  (100.0%)   N/A  
Adjustments for currency homogeneity on dividends 362 1,266 - (71.4%)   N/A  
Claims 1,877 1,889 2,714   (0.6%) (30.8%)
Other operating expenses (2)  17,319  27,983  14,001 (38.1%)   23.7%
           
(1) Concept included for the calculation of the efficiency ratio          
(2) Considers some concepts included for the  acalculation of the efficiency ratio          

In 1Q26, other operating expenses totaled $202.9 billion, decreasing 17.2% QoQ, and increasing 13.0% versus 1Q25.

The quarter was marked by a decrease in (i) turnover tax, followed by (ii) result from initial loss of loans below market rate, and (iii) other operating expenses. In the case of turnover tax, the drop is explained by lower interest rates and credit activity, while the result from initial loss of loans below market rate is linked to a more restrictive origination policy regarding installment promotions, in part with a certain seasonal component. With respect to other operating expenses, this line includes provisions made for uncollectible package fees, which decreased during the quarter.

Income from Associates

The income from associates line item shows the results of unconsolidated companies. During 1Q26, a loss of 3.8 billion was recorded, mainly due to the Bank's shareholding in BBVA Seguros Argentina S.A., Rombo Compañía Financiera S.A., Interbanking S.A., Play Digital S.A., and Openpay Argentina S.A.

Income Tax

The accumulated income tax of three months of 2026 showed a loss of $48.3 billion.

The accumulated effective tax rate of three months of 2026 was 35%2, while in 2025 it was 38% .

 


2 Income tax, in accordance with IAS No. 34, is recognized in interim periods based on the best estimate of the weighted average tax rate that the Entity expects for the year.

 
  1Q26 Earnings Release p.13 
     

Balance Sheet and Activity

Loans and other financing

LOANS AND OTHER FINANCING BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
To the public sector   5,560  3,450  4,357   61.2%   27.6%
To the financial sector  196,002 254,954   95,661 (23.1%) 104.9%
Non-financial private sector and residents abroad   15,664,290  16,229,463  12,223,545   (3.5%)   28.1%
Non-financial private sector and residents abroad - AR$   11,715,102  12,530,589 9,880,304   (6.5%)   18.6%
Overdrafts  1,243,397 1,299,234 1,096,014   (4.3%)   13.4%
Discounted instruments  2,674,071 2,945,183 2,564,613   (9.2%)  4.3%
Mortgage loans  731,881 682,095 414,960  7.3%   76.4%
Pledge loans  1,027,927 832,774 299,211   23.4% 243.5%
Consumer loans  1,531,314 1,571,386 1,440,012   (2.6%)  6.3%
Credit cards  3,245,733 3,442,267 2,895,055   (5.7%)   12.1%
Receivables from financial leases 42,063   39,174   34,013  7.4%   23.7%
Loans to personnel  148,901 144,886   81,773  2.8%   82.1%
Other loans  1,069,815 1,573,590 1,054,653 (32.0%)  1.4%
Non-financial private sector and residents abroad - Foreign Currency  3,949,188 3,698,874 2,343,241  6.8%   68.5%
Overdrafts  22 23 33   (4.3%) (33.3%)
Discounted instruments  341,209 372,785   76,589   (8.5%) 345.5%
Credit cards  144,014 191,015 110,233 (24.6%)   30.6%
Receivables from financial leases   4,184  4,502  2,368   (7.1%)   76.7%
Loans for the prefinancing and financing of exports  2,819,925 2,539,520 1,755,068   11.0%   60.7%
Other loans  639,834 591,029 398,950  8.3%   60.4%
           
% of total loans to Private sector in AR$ 74.8% 77.2% 80.8%  (242)pbs  (604)pbs
% of total loans to Private sector in Foreign Currency 25.2% 22.8% 19.2% 242 pbs 604 pbs
           
% of mortgage loans with UVA adjustments / Total mortgage loans (1) 98.9% 98.8% 97.7%  8 pbs 116 pbs
% of pledge loans with UVA adjustments / Total pledge loans (1) 16.1% 22.0% 13.3%   (590)pbs 279 pbs
% of consumer loans with UVA adjustments / Total consumer loans (1) 0.0% 0.0% 0.0% (0)pbs (0)pbs
% of loans with UVA adjustments / Total loans and other financing(1) 5.0% 4.6% 2.0%   35 pbs 298 pbs
           
Total loans and other financing   15,865,852  16,487,867  12,323,563   (3.8%)   28.7%
Allowances   (798,266)  (675,423)  (284,572) (18.2%)  (180.5%)
Total net loans and other financing   15,067,586  15,812,444  12,038,991   (4.7%)   25.2%
           
(1) Excludes effect of accrued interests adjustments.          
           
Total loans / Total Deposits 85.3% 82.0% 80.8% 328 pbs 445 pbs
Private Loans/Private Deposits ARS 98.4% 97.5% 93.9%   94 pbs 447 pbs
Private Loans/Private Deposits USD 64.8% 53.9% 50.7% 1,087 pbs 1,407 pbs

LOANS AND OTHER FINANCING TO NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD IN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of USD       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
FX rate*  1,382.76  1,459.42  1,073.88   (5.3%)   28.8%
Non-financial private sector and residents abroad - Foreign Currency (USD) 2,856 2,316 1,646   23.3%   73.6%
*Wholesale U.S. dollar foreign exchange rates on BCRA’s Communication “A” 3500, as of the end of period.        

As of 1Q26, the private loan portfolio totaled $11.7 trillion, a decrease of 3.5% in the quarter, and an increase of 18.6% versus 4Q25. It is worth mentioning that the consolidation with FCA is not incorporated in 1Q25.

 

 
  1Q26 Earnings Release p.14 
     

In a quarter marked by low seasonality, the drop in private loans is generated primarily in short-term commercial loans in pesos, such as (i) documents, (ii) overdrafts, and (iii) other loans (financial and floorplan).

As a consequence of the context, individual portfolios in consumer products (credit cards and personal loans) also did not gain traction. We highlight the continuous momentum of pledge and mortgage loans, which continue to gain ground within the retail portfolio, as a consequence of the financial stability and good credit performance that these products have been demonstrating. This creates better conditions for our customers to make long-term investment decisions.

In summary, the local currency private loan portfolio fell 6.5% in the quarter, partially offset by a 6.8% rise in foreign currency private loans. It is noteworthy that the latter denominated in U.S. dollars, mainly commercial, grew 23.3% in the period and 73.6% in the last 12 months.

LOANS AND OTHER FINANCING BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Non-financial private sector and residents abroad - Retail   6,829,770  6,864,423  5,241,244   (0.5%)   30.3%
Mortgage loans   731,881  682,095  414,960  7.3%   76.4%
Pledge loans   1,027,927  832,774  299,211   23.4% 243.5%
Consumer loans   1,531,314  1,571,386  1,440,012   (2.6%)  6.3%
Credit cards   3,389,747  3,633,282  3,005,288   (6.7%)   12.8%
Loans to personnel   148,901  144,886 81,773  2.8%   82.1%
Non-financial private sector and residents abroad - Commercial   8,834,520  9,365,040  6,982,301   (5.7%)   26.5%
Overdrafts   1,243,419  1,299,257  1,096,047   (4.3%)   13.4%
Discounted instruments   3,015,280  3,317,968  2,641,202   (9.1%)   14.2%
Receivables from financial leases  46,247 43,676 36,381  5.9%   27.1%
Loans for the prefinancing and financing of exports   2,819,925  2,539,520  1,755,068   11.0%   60.7%
Other loans   1,709,649  2,164,619  1,453,603 (21.0%)   17.6%
           
% of total loans to Retail sector 43.6% 42.3% 42.9% 130 pbs   72 pbs
% of total loans to Commercial sector 56.4% 57.7% 57.1%  (130)pbs (72)pbs

LOANS AND OTHER FINANCING - NON RESTATED FIGURES BBVA ARGENTINA CONSOLIDATED
In millions of AR$       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Non-financial private sector and residents abroad - Retail   6,829,770   6,257,927   3,952,492  9.1%   72.8%
Non-financial private sector and residents abroad - Commercial   8,834,520   8,571,325   5,265,444  3.1%   67.8%
Total loans and other financing (1) 15,865,852 15,065,363   9,293,361  5.3%   70.7%
(1) Does not include allowances          

In nominal terms, BBVA Argentina's retail, commercial, and total loan portfolios increased by 9.1%, 3.1%, and 5.3% respectively during the quarter, below the inflation level in all cases.

La participación de préstamos totales sobre activo es de 59%, versus 57% en el 4T25 y 56% en el 1T25.

MARKET SHARE - PRIVATE SECTOR LOANS BBVA ARGENTINA CONSOLIDATED
In %       ∆ bps
  1Q26 4Q25 1Q25 QoQ YoY
Private sector loans - Bank 10.77% 10.70% 10.30%   7 pbs 47 pbs
Private sector loans - Consolidated* 12.15% 12.04% 11.20% 11 pbs 95 pbs
           
Based on daily BCRA information. Capital balance as of the last day of each quarter. There may be differences generated by the gap between the siscen BCRA information and published financial statements
 * Consolidates PSA, VWFS & Rombo          

 
  1Q26 Earnings Release p.15 
     

 

Asset Quality

ASSET QUALITY BBVA ARGENTINA CONSOLIDATED  
In millions of AR$ - Inflation adjusted       ∆ %  
  1Q26 4Q25 1Q25 QoQ YoY  
Commercial non-performing portfolio (1)  36,404  25,714 8,248  41.6%   341.4%  
Total commercial portfolio   7,220,023   7,130,943   5,804,859 1.2%  24.4%  
Commercial non-performing portfolio / Total commercial portfolio 0.50% 0.36% 0.14%  14 pbs  36 pbs  
Retail non-performing portfolio (1)   866,471   675,186   164,937  28.3%   425.3%  
Total retail portfolio   8,889,497   9,617,227   6,779,749   (7.6%)  31.1%  
Retail non-performing portfolio / Total retail portfolio 9.75% 7.02% 2.43%   273 pbs   731 pbs  
Total non-performing portfolio (1)   902,875   700,900   173,185  28.8%   421.3%  
Total portfolio 16,109,520 16,748,170 12,584,608   (3.8%)  28.0%  
Total non-performing portfolio / Total portfolio 5.60% 4.18% 1.38%   142 pbs   423 pbs  
Allowances   798,266   675,423   284,572  18.2%   180.5%  
Allowances  /Total non-performing portfolio 88.41% 96.37% 164.32%  (795)pbs  (7,590)pbs  
Quarterly change in Write-offs  76,048   105,817  42,785 (28.1%)  77.7%  
Write offs / Total portfolio 0.47% 0.63% 0.34% (16)pbs  13 pbs  
Cost of Risk (CoR) - Quarterly 6.14% 8.11% 4.40%  (197)pbs   173 pbs  
Cost of Risk (CoR)- Accumulated 6.14% 6.39% 4.40% (25)pbs   173 pbs  
             
(1) Non-performing loans include: all loans to borrowers classified as "Deficient Servicing (Stage 3)", "High Insolvency Risk (Stage 4)", "Irrecoverable" and/or "Irrecoverable for Technical Decision" (Stage 5) according to BCRA debtor classification system  
 

In 1Q26, the NPL ratio (non-performing loans / total loans) increased from 4.18% to 5.60%, mainly focused on the retail non-performing loan portfolio in credit cards and personal loans, in line with the systemic context. Commercial delinquency maintained a good performance, with a slight increase of 14 bps mainly due to small companies.

The coverage ratio (provisions / non-performing loans) reached 88.41% in 1T26. Despite the increase in non-performing loans, the bank continues to show an adequate level of provisions to cope with insolvencies.

The quarterly cost of risk (loan loss allowances / average total loans) reached 6.14% in 1Q26, compared to 8.11% in 4Q25. The drop is related to (i) lower origination, (ii) strengthened origination and restructuring policies that have allowed the credit profile of customers to improve, and (iii) an improvement in the ratings of certain aforementioned commercial groups.

In annual accumulated terms, the cost of risk of 6.14% in 1Q26 compares to 4.40% in 1Q25.

ANALYSIS FOR THE ALLOWANCE OF LOAN LOSSES    BBVA ARGENTINA CONSOLIDATED
In millions of AR$            
  Balance at 12/31/2025 Stage 1 Stage 2 Stage 3 Monetary result generated by allowances Balance at 03/31/2026
Other financial assets  2,979 - -  100  (257) 2822
Loans and other financing 675,425   (1,690)   (1,207) 195,421   (69,683) 798266
Other debt securities  144  (71) - - (10) 63
Eventual commitments   23,906   (985)   (1,147)  104  (1,958) 19920
Total allowances 702,454   (2,746)   (2,354) 195,625   (71,908)   821,071
             
Note: to be consistent with Financial Statements, it must be recorded from the beginning of the year instead of the quarter  

Allowances for the Bank in 1Q26 reflect expected losses driven by the adoption of the IFRS 9 standards as of January 1, 2020, except for debt instruments issued by the nonfinancial government sector which were excluded from the scope of such standard.

 
  1Q26 Earnings Release p.16 
     

 

Public Sector Exposure

NET PUBLIC DEBT EXPOSURE* BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Treasury and National Government 554,254 378,411 555,495  46.5%  (0.2%)
National Treasury Public Debt in AR$ 256,694 239,179 429,967 7.3%   (40.3%)
National Treasury Public Debt CPI-linked 279,314 119,430 125,445   133.9%   122.7%
National Treasury Public Debt in USD**  3,108  3,870 83   (19.7%)  n.m
National Treasury Public Debt in ARS,  USD-linked   15,138   15,932 -  (5.0%)  N/A
BCRA  121 - -  N/A  N/A
BOPREAL  121 - -  N/A  N/A
Public securities at FV through P&L 554,375 378,411 555,495  46.5%  (0.2%)
           
Treasury and National Government   24,190 639,119 167,423   (96.2%)   (85.6%)
National Treasury Public Debt in AR$  6,890 631,580   13,695   (98.9%)   (49.7%)
National Treasury Public Debt CPI-linked   17,300  7,539 153,728   129.5%   (88.7%)
Public securities at Amortized Cost   24,190 639,119 167,423   (96.2%)   (85.6%)
           
Treasury and National Government 3,569,398 3,289,640 2,956,052 8.5%  20.7%
National Treasury Public Debt in AR$ 2,389,750 2,075,298 1,559,623  15.2%  53.2%
National Treasury Public Debt CPI-linked 1,076,280 1,208,986 1,266,240   (11.0%)   (15.0%)
National Treasury Public Debt in USD** 103,368 - -  N/A  N/A
National Treasury Public Debt in ARS,  USD-linked -  5,356 130,189 (100.0%) (100.0%)
BCRA   35,048   38,604   56,705  (9.2%)   (38.2%)
BOPREAL   35,048   38,604   56,705  (9.2%)   (38.2%)
Public securities at FV through OCI 3,604,446 3,328,244 3,012,757 8.3%  19.6%
           
Total Public securities 4,183,011 4,345,774 3,735,675  (3.7%)  12.0%
           
Loans to the non-financial  public sector  5,560  3,450  4,357  61.2%  27.6%
Loans to the Central Bank - - -  -  -
Total loans to the public sector  5,560  3,450  4,357  61.2%  27.6%
           
Total public sector exposure 4,188,571 4,349,224 3,740,032  (3.7%)  12.0%
Public sector exposure  (Excl. BCRA) 4,153,402 4,310,620 3,683,327  (3.6%)  12.8%
           
 % Public sector exposure (Excl. BCRA) / Assets 16.2% 15.5% 17.1% 65 pbs   (90)pbs
           
*Deposits at the Central Bank used to comply with reserve requirements not included. Includes assets used as collateral.      
**Securities denominated in foreign currency

In 1T26, total public sector exposure, excluding exposure to the BCRA, totaled $4.2 trillion, falling 3.6% QoQ and increasing 12.8% YoY, with no relevant changes in the portfolio composition in the last three months.

Exposure to the public sector, excluding exposure to the BCRA (Central Bank of Argentina), represents 16.2% of total assets, above the 15.5% of 4Q25 and below the 17.1% of 1Q25.

 
  1Q26 Earnings Release p.17 
     

 

Deposits

TOTAL DEPOSITS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Total deposits        17,460,551        18,829,618        14,553,136               (7.3%)             20.0%
Non-financial Public Sector             795,738             513,623             148,977              54.9%           434.1%
Financial Sector                 9,639                 8,529                 9,341              13.0%               3.2%
Non-financial private sector and residents abroad        16,655,174        18,307,466        14,394,818               (9.0%)             15.7%
Non-financial private sector and residents abroad - AR$        10,560,907        11,448,877          9,775,508               (7.8%)               8.0%
Checking accounts          1,521,196          1,664,466          1,587,356               (8.6%)              (4.2%)
Savings accounts          1,493,598          1,795,473          1,649,730             (16.8%)              (9.5%)
Time deposits          5,878,980          6,303,469          4,130,950               (6.7%)             42.3%
Investment accounts **               15,095               14,155          1,150,639                6.6%            (98.7%)
Other*          1,652,038          1,671,314          1,256,833               (1.2%)             31.4%
Non-financial private sector and res. abroad - Foreign Currency          6,094,267          6,858,589          4,619,310             (11.1%)             31.9%
Checking accounts                    417                 1,380                    772             (69.8%)            (46.0%)
Savings accounts          4,267,753          5,116,767          4,258,491             (16.6%)               0.2%
Time deposits          1,341,192          1,291,929             316,619                3.8%           323.6%
Other*             484,905             448,513               43,428                8.1%  n.m
           
% of total portfolio in the private sector in AR$ 63.4% 62.5% 67.9%              87 pbs          (450)pbs
% of total portfolio in the private sector in Foregin Currency 36.6% 37.5% 32.1%             (87)pbs           450 pbs
           
% of UVA Time deposits & Investment accounts / Total AR$ Time deposits & Investment accounts 0.7% 0.4% 1.3%              34 pbs            (56)pbs
           
*Includes interest-bearing checking accounts and special checking accounts
**Refers to callable time deposits

DEPOSITS TO THE NON-FINANCIAL PRIVATE SECTOR AND RES. ABROAD IN FOREIGN CURRENCY BBVA ARGENTINA CONSOLIDATED
In millions of USD       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
FX rate*  1,382.76  1,459.42  1,073.88   (5.3%)   28.8%
Non-financial private sector and residents abroad - Foreign Currency (USD) 4,407 4,294 3,244  2.6%   35.9%
*Wholesale U.S. dollar foreign exchange rates on BCRA’s Communication “A” 3500, as of the end of period.

During 1Q26, total deposits reached $17.5 trillion, a drop of 7.3% during the quarter, and an increase of 20.0% versus 1Q25.

Total deposits from the private sector in 1Q26 reached $16.7 trillion, showing a drop of 9.0% QoQ, and an increase of 15.7% YoY.

Los depósitos al sector privado no financiero en moneda extranjera expresados en pesos totalizaron $6.094.267 millones, cayendo 11,1% en el trimestre y aumentando 31,9% versus el 1T25. Esto se debe principalmente por una caída de caja de ahorro de 16,6%. Se destaca que los depósitos en moneda extranjera expresados en USD aumentaron 2,6% en el trimestre, denotando un efecto de la apreciación del peso argentino en las caídas mencionadas anteriormente.

Deposits from the non-financial private sector in pesos totaled $10.6 trillion, decreasing 7.8% QoQ and increasing 8.0% YoY. The quarterly variation is explained by (i) a decrease in time deposits of 6.7%, followed by (ii) a decrease of 16.8% in savings accounts, and (iii) a decrease of 8.6% in current accounts.

Deposits from the non-financial private sector in foreign currency, expressed in pesos, totaled $6.1 trillion, falling 11.1% QoQ and increasing 31.9% YoY. This is mainly due to a 16.6% drop in savings accounts. It is noteworthy that deposits in foreign currency expressed in U.S dollars increased 2.6% in the quarter, denoting an effect of the appreciation of the Argentine peso on the aforementioned decreases.

 

 
  1Q26 Earnings Release p.18 
     
PRIVATE DEPOSITS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Non-financial private sector and residents abroad  16,655,174  18,307,466  14,394,818   (9.0%)  15.7%
Sight deposits 9,419,907  10,697,913 8,796,610 (11.9%) 7.1%
Checking accounts 1,521,613 1,665,846 1,588,128   (8.7%)   (4.2%)
Savings accounts 5,761,351 6,912,240 5,908,221 (16.7%)   (2.5%)
Other* 2,136,943 2,119,827 1,300,261 0.8%  64.3%
Time deposits 7,235,267 7,609,553 5,598,208   (4.9%)  29.2%
Time deposits 7,220,172 7,595,398 4,447,569   (4.9%)  62.3%
Investment accounts**   15,095   14,155 1,150,639 6.6% (98.7%)
           
% of sight deposits over total private deposits 58.6% 59.6% 61.5%  (103)pbs  (297)pbs
% of time deposits over total private deposits 41.4% 40.4% 38.5%   103 pbs   297 pbs
           
*Includes interest-bearing checking accounts and special checking accounts
**Refers to callable time deposits

PRIVATE DEPOSITS - NON RESTATED FIGURES BBVA ARGENTINA CONSOLIDATED
In millions of AR$       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Sight deposits   9,419,907   9,774,941   6,633,637   (3.6%)  42.0%
Time deposits   7,235,267   6,953,032   4,221,684  4.1%  71.4%
Total deposits 16,655,174 16,727,973 10,855,321   (0.4%)  53.4%

In nominal terms, sight deposits fell 3.6%, time deposits rose 4.1%, and total deposits decreased 0.4%, not exceeding the period's inflation in any case.

As of 1Q26, the Bank's transactional deposits (current accounts and savings accounts) represented 41.7% of total private non-financial deposits, versus 45.6% in 4Q25 and 51.5% in 1Q25.

MARKET SHARE - PRIVATE SECTOR DEPOSITS BBVA ARGENTINA CONSOLIDATED
In %       ∆ bps
  1Q26 4Q25 1Q25 QoQ YoY
Private sector Deposits - Consolidated* 9.93% 10.01% 9.15% (8)pbs   78 pbs
           
Based on daily BCRA information. Capital balance as of the last day of each quarter. There may be differences generated by the gap between the siscen BCRA information and published financial statements

In 1Q26, the market share of private deposits had a slight decline of 8 bps, while growing 78 bps compared to 1Q25.

Other Source of Funds

OTHER SOURCES OF FUNDS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Other sources of funds 5,335,164  5,969,033  4,453,292 (10.6%)   19.8%
Central Bank  557   1,885   368 (70.5%)   51.4%
Banks and international organizations 172,433  288,700 62,705 (40.3%) 175.0%
Financing received from local financial institutions 403,107  614,134  313,252 (34.4%)   28.7%
REPOs   66,898  512,439   - (86.9%)  N/A
Corporate bonds 668,576  673,421  341,076   (0.7%)   96.0%
Equity 4,023,593  3,878,454  3,735,891  3.7%  7.7%

In 1Q26, the total amount of other source of funds was $5.3 trillion, decreasing 10.6% QoQ, and increasing 19.8% YoY.

The QoQ variation is mainly explained by the decrease in repo and reverse repo operations of 86.9%, followed by a drop in financing received from local financial institutions of 34.4%. On the other hand, equity positively offsets with an increase of 3.7%.

 
  1Q26 Earnings Release p.19 
     

Liquid Assets

TOTAL LIQUID ASSETS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Total liquid assets   7,947,387   8,317,584   6,924,362  (4.5%)  14.8%
Cash and deposits in banks   4,005,427   5,201,053   3,250,050   (23.0%)  23.2%
Debt securities at fair value through P&L   475,604   344,717   563,552  38.0% (15.6%)
Government securities  475,483  344,717  563,552 37.9%   (15.6%)
BCRA Instruments   121   -   -  N/A  N/A
Net REPO transactions   (66,898) (512,439)   - 86.9%  N/A
Other debt securities   3,532,632   3,284,253   3,107,006 7.6%  13.7%
Government securities  3,532,632  3,284,253  3,050,301   7.6%  15.8%
BCRA Instruments   -   - 56,705  N/A (100.0%)
Overnight transactios in foreign banks 622   - 3,754  N/A (83.4%)
           
Liquid assets / Total Deposits 45.5% 44.2% 47.6%  134 pbs (206)pbs
Liquid assets / Total Deposits ARS 43.4% 37.7% 43.8%  570 pbs   (40)pbs
Liquid assets / Total Deposits USD 48.9% 55.2% 55.4% (625)pbs (651)pbs

In 1Q26, the Bank's liquid assets reached $7.9 trillion, decreasing 4.5% QoQ, and increasing 14.8% YoY.

In the quarter, the liquidity ratio (liquid assets / total deposits) reached a level of 45.5%. The liquidity ratio in local and foreign currency reached 43.4% and 48.9% respectively.

Solvency

MINIMUM CAPITAL REQUIREMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Minimum capital requirement   1,529,107   1,571,269   1,268,072   (2.7%)  20.6%
Credit risk   1,441,565   1,504,677   1,240,323   (4.2%)  16.2%
Market risk 7,868 5,574 7,155  41.2%  10.0%
Operational risk  79,674  61,017  20,594  30.6%   286.9%
           
Integrated Capital - RPC (1)*   3,497,604   3,487,354   3,313,941 0.3% 5.5%
Ordinary Capital Level 1 ( COn1)   3,953,814   3,915,326   3,696,733 1.0% 7.0%
Deductible items COn1 (456,210) (427,973) (382,793)   (6.6%)   (19.2%)
           
Excess Capital          
Integration excess   1,968,497   1,916,085   2,045,868 2.7%  (3.8%)
Excess as  % of minimum capital requirement 128.7% 121.9% 161.3% 679 pbs (3,260)pbs
           
Risk-weighted assets (RWA, according to B.C.R.A. regulation) (2) 18,588,992 19,093,036 15,399,328   (2.6%)  20.7%
           
Regulatory Capital Ratio (1)/(2) 18.8% 18.3% 21.5%  55 pbs (270)pbs
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 18.8% 18.3% 21.5%  55 pbs (270)pbs
           
* RPC includes 100% of quarterly results

BBVA Argentina continues to show solid solvency indicators as of 1Q26. The capital ratio reached 18.8%, stable compared to 18.3% in 4Q25. The excess over the regulatory requirement reached $2.0 trillion or 128.7%.

The increase in the ratio in the quarter was due both to a slight increase in Common Equity Tier 1 (CET1) of 1.0%, and a 2.6% drop in risk-weighted assets.

BBVA Argentina Asset Management S.A.

 
  1Q26 Earnings Release p.20 
     
MUTUAL FUNDS ASSETS BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
FBA Renta Pesos   3,523,376   3,535,248  4,081,735   (0.3%) (13.7%)
FBA Renta Fija Dólar I   307,308   221,279  151,858   38.9% 102.4%
FBA Ahorro Pesos   160,283   132,863  204,208   20.6% (21.5%)
FBA Money Market Dólar   111,204  66,553   -   67.1%  N/A
FBA Bonos Argentina  97,912  73,429 39,661   33.3% 146.9%
FBA Horizonte  90,807  83,639 46,518  8.6%   95.2%
FBA Acciones Argentinas  87,585  99,789  142,479 (12.2%) (38.5%)
FBA Gestión I  56,229 -   -  N/A  N/A
FBA Renta Fija Plus  45,953  31,452 39,132   46.1%   17.4%
FBA Renta Fija Dólar Plus I  34,204  23,695   1,053   44.4%  n.m
FBA Renta Pública I  22,834  11,600   9,497   96.8% 140.4%
FBA Acciones Latinoamericanas  17,563  14,171 13,062   23.9%   34.5%
FBA Renta Mixta  14,311  15,722 20,478   (9.0%) (30.1%)
FBA Renta Fija Dólar Latam I 138 159   - (13.2%)  N/A
FBA Renta Mixta Dólar I 138 159   - (13.2%)  N/A
FBA Acciones Globales Dólar I 138 159   - (13.2%)  N/A
FBA Horizonte Plus   10   11  13   (9.1%) (23.1%)
FBA Bonos Globales   10   11  15   (9.1%) (33.3%)
FBA Money Market Pesos Plus  5  5   -   -  N/A
FBA Retorno Total I  2  2 3   - (33.3%)
Total Equity   4,570,010   4,309,946  4,749,712  6.0%   (3.8%)
           
AMASAU Net Income  10,611  10,317 12,572  2.8% (15.6%)

MARKET SHARE - MUTUAL FUNDS BBVA ASSET MANAGEMENT
In %       ∆ bps
  1Q26 4Q25 1Q25 QoQ YoY
Mutual funds 5.00% 5.06% 5.45% (6)pbs  (39)pbs
           
Source: Cámara Argentina de Fondos Comunes de Inversión

 
  1Q26 Earnings Release p.21 
     

Other Events

Main Relevant Events

New Composition of the Audit Committee. On April 28, 2026, the Board of Directors approved the new composition of the Audit Committee. For further information click here.

 

Summary of the 2026 Annual Shareholders’ Meeting. On April 28, 2026, the Annual Shareholders’ Meeting was held. A summary of the meeting can be found here.

 

BCRA Authorizes Dividend Distribution. On May 15, 2026, the BCRA approved the distribution of dividends in cash and/or in kind, for a total amount of ARS 69,011,025,123. For further information, click here.

Corporate Bonds

Issuance of Series 41 Corporate Bonds. On March 4, 2026, the Bank issued Class 41 notes in the amount of ARS 45.457 billion, at an interest rate of TAMAR + 3.5%, maturing and amortizing on March 4, 2027.

 

Issuance of Series 44 Corporate Bonds. On May 8, 2026, the Bank issued Class 44 notes in the amount of USD 48,018,887, at an interest rate of 3.5% in U.S. dollars, maturing and amortizing on May 8, 2028.

 

Issuance of Series 45 Corporate Bonds. On May 8, 2026, the Bank issued Class 45 notes in the amount of USD 25,072,002, at an interest rate of 5% in U.S. dollars, maturing and amortizing on May 8, 2027.

 

Issuance of Series 46 Corporate Bonds. On May 21, 2026, the Bank issued Class 46 notes in the amount of ARS 83.914 billion, at an interest rate of TAMAR + 3.25%, maturing and amortizing on May 21, 2027.

Dividend Payment

Dividend Payment – Installment 10 of 10. On March 13, 2026, the payment of installment 10 of 10 corresponding to dividend distributions was announced. For further information click here.

 

Main Regulatory Changes

Dividend distribution (Communication “A” 8410, 03/19/2026). The Central Bank of Argentina (BCRA) established that financial institutions may distribute earnings in three equal, monthly, non-cumulative installments, starting on the third business day of May and of each month in which the payment is made. The distribution may amount to up to 60% of FY2025 earnings.
Foreign Exchange and FX Market (Communication “A” 8417, 04/09/2026). The regulation exempts individuals from the obligation to settle proceeds from exports of goods and extends this benefit to all services. It also removes limits on cash advances abroad using credit cards and extends settlement deadlines for specific sectors. However, the regulation tightens financial controls by establishing that individuals transferring foreign currency abroad must undertake, through a sworn statement, not to trade foreign-currency-denominated securities (USD MEP or CCL) during the subsequent 90 days.
Minimum Reserve Requirements (Communication “A” 8423, 04/17/2026). The BCRA reduced the minimum daily cash reserve integration requirement in pesos from 75% to 65%, a measure aimed at injecting liquidity into the financial system. In addition, the minimum and maximum maturity requirements for government securities eligible for reserve requirement integration were eliminated.
 
  1Q26 Earnings Release p.22 
     

Glossary

Active clients: holders of at least one active product. Subgroup of total clients that comply with the requirements of being an account holder with a positive business volume in the last three months. Does not include joint account. Excludes clients with arrears. SMEs includes entrepreneurs.

APR: Annual Percentage Rate

APY: Annual Percentage Yield

Average total loans: average between previous year-end Total loans and other financing and current period Total loans and other financing.

Cost of Risk (accumulated): Year to date accumulated loan loss allowances / Average total loans between the reported period and total loans as of the end of the previous year.

Cost of Risk (quarterly): Current period Loan loss allowances / Average total loans. Average total loans: average between previous quarter-end Total loans and other financing and current period Total loans and other financing.

Coverage ratio: Quarterly allowances under the Expected Credit Loss model / total non-performing portfolio.

Digital clients: we consider a customer to be an active user of online banking when they have been logged at least once within the last three months using the internet or a cell phone and SMS banking.

Efficiency ratio (accumulated): Accumulated (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / Accumulated (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income+ Income from net monetary position).

Efficiency ratio (quarterly): (Personnel benefits+ Administrative expenses + Depreciation & Amortization) / (Net Interest Income + Net Fee Income + Net Income from measurement of Financial Instruments at Fair Value through P&L + Net income from write-down of assets at amortized cost and at fair value through OCI + Foreign exchange and gold gains + some concepts included in Other net operating income+ Income from net monetary position).

Financial margin: Net income from financial instruments at FV through P&L + Net loss from write-down of assets at amortized cost and fair value through OCI + Foreign exchange and gold gains

Liquidity Ratio: (Cash and deposits in banks + Debt securities at fair value through P&L (Excl. Private securities) + Net REPO transactions + Other debt securities (Excl. Private securities) + Overnight transactions in foreign banks/ Total Deposits.

Mobile clients: customers who have been active in online banking at least once in the last three months using a mobile device.

Net Interest Margin (NIM) – (quarterly): Quarterly Net Interest Income / Average quarterly interest earning assets.

Adjusted NIM: (Quarterly Net Interest Income - Net Monetary Position Results) / Average quarterly interest earning assets.

Public Sector Exposure (excl. BCRA): (National and Provincial Government public debt + Loans to the public sector + REPO transactions) / Total Assets.

ROA (accumulated): Accumulated net Income of the period attributable to owners of the parent / Total Average Assets. Total Average Assets is calculated as the average between total assets on December of the previous year and total assets in the current period, expressed in local currency. Calculated over a 365-day year.

ROA (quarterly): Net Income of the period attributable to owners of the parent / Total Average Assets. Total Average Assets is calculated as the average between total assets on the previous quarter-end and total assets in the current period, expressed in local currency. Calculated over a 365-day year.

 
  1Q26 Earnings Release p.23 
     

ROE (accumulated): Accumulated net Income of the period attributable to owners of the parent / Average Equity attributable to owners of the parent. Average Equity is calculated as the average between equity in December of the previous year and equity in the current period, expressed in local currency. Calculated over a 365-day year.

ROE (quarterly): Net Income of the period attributable to owners of the parent / Average Equity attributable to owners of the parent. Average Equity is calculated as the average between equity on the previous quarter end and equity in the current period, expressed in local currency. Calculated over a 365-day year.

Spread: (Quarterly Interest Income / Quarterly average Interest-earning Assets) – (Quarterly Interest Expenses / Quarterly average interest-bearing liabilities).

Other terms

n.m.: not meaningful. Implies an increase above 500% and a decrease below -500%.
N/A: not applicable.
Bps: basis points.
 
  1Q26 Earnings Release p.24 
     

Balance Sheet

BALANCE SHEET BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Assets          
Cash and deposits in banks  4,005,427  5,201,053  3,250,050  (23.0%) 23.2%
Cash   1,094,219   1,453,817   1,493,641  (24.7%)  (26.7%)
 Financial institutions and correspondents   2,910,581   3,737,896   1,754,169  (22.1%)   65.9%
BCRA 1,785,224  2,384,493  1,149,982  (25.1%)   55.2%
Other local and foreign financial institutions 1,125,357  1,353,403  604,187  (16.8%)   86.3%
Other  627   9,340   2,240  (93.3%)  (72.0%)
Debt securities at fair value through profit or loss  475,788  345,255  563,638 37.8%  (15.6%)
Derivatives 72,450 42,535   8,856 70.3%  n.m
Repo transactions   -   -   -  N/A  N/A
Other financial assets  195,170  166,185  641,354 17.4%  (69.6%)
Loans and other financing   15,067,586   15,812,444   12,038,991 (4.7%) 25.2%
Non-financial public sector 5,560 3,450 4,357   61.2%   27.6%
B.C.R.A - - -  N/A  N/A
Other financial institutions   182,963   253,465  93,783  (27.8%)   95.1%
Non-financial private sector and residents abroad 14,879,063 15,555,529 11,940,851 (4.3%)   24.6%
Other debt securities  3,567,955  3,330,987  3,147,675   7.1% 13.4%
Financial assets pledged as collateral  723,629  1,315,257  424,615  (45.0%) 70.4%
Current income tax assets   2,708   - 59,976  N/A  (95.5%)
Investments in equity instruments 22,537 22,752 18,443 (0.9%) 22.2%
Investments in subsidiaries and associates 43,078 42,208 35,120   2.1% 22.7%
Property and equipment  970,038  981,317  925,642 (1.1%)   4.8%
Intangible assets  137,814  130,604  103,154   5.5% 33.6%
Deferred income tax assets 91,006 71,990 63,136 26.4% 44.1%
Other non-financial assets  335,180  341,908  314,287 (2.0%)   6.6%
Non-current assets held for sale   1,641   3,542   4,548  (53.7%)  (63.9%)
Total Assets   25,712,007   27,808,037   21,599,485 (7.5%) 19.0%
Liabilities          
Deposits   17,460,551   18,829,618   14,553,136 (7.3%) 20.0%
Non-financial public sector   795,738   513,623   148,977   54.9% 434.1%
Financial sector 9,639 8,529 9,341   13.0%  3.2%
Non-financial private sector and residents abroad 16,655,174 18,307,466 14,394,818 (9.0%)   15.7%
Liabilities at fair value through profit or loss 35,118   -   -  N/A  N/A
Derivatives 13,993   7,109 16,762 96.8%  (16.5%)
Reverse REPO transactions 66,898  512,439   -  (86.9%)  N/A
Other financial liabilities  1,911,323  1,943,344  1,640,357 (1.6%) 16.5%
Financing received from the B.C.R.A. and other financial institutions  576,097  904,719  376,325  (36.3%) 53.1%
Corporate bonds issued  668,576  673,421  341,076 (0.7%) 96.0%
Current income tax liabilities  218,910  136,956 27,548 59.8%  n.m
Subordinated corporate bonds   -   -   -  N/A  N/A
Provisions 51,566 55,055 68,350 (6.3%)  (24.6%)
Deferred income tax liabilities   6,046   7,195   -  (16.0%)  N/A
Other non-financial liabilities  679,336  859,727  840,040  (21.0%)  (19.1%)
Total Liabilities   21,688,414   23,929,583   17,863,594 (9.4%) 21.4%
Equity          
Share Capital   613   613   613 - -
Non-capitalized contributions   6,745   6,745   6,745 - -
Capital adjustments  1,302,740  1,302,740  1,302,740 - -
Reserves  2,203,345  2,203,345  1,823,512 - 20.8%
Retained earnings  273,596   -  508,560  N/A  (46.2%)
Other accumulated comprehensive income 29,724   (30,150)   (75,062)  198.6%  139.6%
Income for the period 78,421  273,596  104,006  (71.3%)  (24.6%)
Equity attributable to owners of the Parent   3,895,184   3,756,889   3,671,114  3.7%  6.1%
Equity attributable to non-controlling interests   128,409   121,565  64,777  5.6%   98.2%
Total Equity  4,023,593  3,878,454  3,735,891   3.7%   7.7%
Total Liabilities and Equity   25,712,007   27,808,037   21,599,485 (7.5%) 19.0%

 
  1Q26 Earnings Release p.25 
     

 

Balance Sheet – 5 Quarters

BALANCE SHEET BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted          
  1Q26 4Q25 3Q25 2Q25 1Q25
Assets          
Cash and deposits in banks 4,005,427 5,201,053 4,523,016 4,145,482 3,250,050
Cash  1,094,219  1,453,817  1,028,579  1,028,360  1,493,641
 Financial institutions and correspondents  2,910,581  3,737,896  3,494,437  3,103,148  1,754,169
B.C.R.A   1,785,224   2,384,493   2,155,932   1,967,316   1,149,982
Other local and foreign financial institutions   1,125,357   1,353,403   1,338,505   1,135,832   604,187
Other 627 9,340 -  13,974 2,240
Debt securities at fair value through profit or loss 475,788 345,255 328,113 780,984 563,638
Derivatives   72,450   42,535   68,093   15,058  8,856
Repo transactions  -  -  -  -  -
Other financial assets 195,170 166,185 293,826 242,393 641,354
Loans and other financing  15,067,586  15,812,444  14,827,077  13,951,816  12,038,991
Non-financial public sector   5,560   3,450   4,389   4,636   4,357
B.C.R.A   -   -   -   -   -
Other financial institutions  182,963  253,465  242,661  181,187 93,783
Non-financial private sector and residents abroad   14,879,063   15,555,529   14,580,027   13,765,993   11,940,851
Other debt securities 3,567,955 3,330,987 3,326,626 3,032,768 3,147,675
Financial assets pledged as collateral 723,629 1,315,257 1,196,083 444,141 424,615
Current income tax assets  2,708  -  137  107   59,976
Investments in equity instruments   22,537   22,752   17,946   19,174   18,443
Investments in subsidiaries and associates   43,078   42,208   41,791   39,803   35,120
Property and equipment 970,038 981,317 961,167 936,053 925,642
Intangible assets 137,814 130,604 120,354 110,705 103,154
Deferred income tax assets   91,006   71,990 138,115   43,428   63,136
Other non-financial assets 335,180 341,908 318,643 330,540 314,287
Non-current assets held for sale  1,641  3,542  4,548  4,548  4,548
Total Assets  25,712,007  27,808,037  26,165,535  24,097,000  21,599,485
Liabilities          
Deposits  17,460,551  18,829,618  18,127,224  16,294,382  14,553,136
Non-financial public sector  795,738  513,623  356,060  157,723  148,977
Financial sector   9,639   8,529   8,493 12,374   9,341
Non-financial private sector and residents abroad   16,655,174   18,307,466   17,762,671   16,124,285   14,394,818
Liabilities at fair value through profit or loss   35,118  -  -  529  -
Derivatives   13,993  7,109   87,543   18,820   16,762
Reverse Repo Transactions   66,898 512,439 354,789  -  -
Other financial liabilities 1,911,323 1,943,344 1,919,765 2,075,446 1,640,357
Financing received from the B.C.R.A. and other financial institutions 576,097 904,719 633,343 459,719 376,325
Corporate bonds issued 668,576 673,421 481,364 540,608 341,076
Current income tax liabilities 218,910 136,956   29,796   21,229   27,548
Subordinated corporate bonds  -  -  -  -  -
Provisions   51,566   55,055   59,561   77,463   68,350
Deferred income tax liabilities  6,046  7,195  -  -  -
Other non-financial liabilities 679,336 859,727 951,384 937,423 840,040
Total Liabilities  21,688,414  23,929,583  22,644,769  20,425,619  17,863,594
Equity          
Share Capital  613  613  613  613  613
Non-capitalized contributions  6,745  6,745  6,745  6,745  6,745
Capital adjustments 1,302,740 1,302,740 1,302,740 1,302,740 1,302,740
Reserves 2,203,345 2,203,345 2,203,345 2,203,345 1,823,512
Retained earnings 273,596  -  -  - 508,560
Other accumulated comprehensive income   29,724 (30,150)  (280,970) (85,415) (75,062)
Income for the period   78,421 273,596 214,664 173,248 104,006
Equity attributable to owners of the Parent  3,895,184  3,756,889  3,447,137  3,601,276  3,671,114
Equity attributable to non-controlling interests  128,409  121,565 73,629 70,105 64,777
Total Equity 4,023,593 3,878,454 3,520,766 3,671,381 3,735,891
Total Liabilities and Equity  25,712,007  27,808,037  26,165,535  24,097,000  21,599,485

 

 
  1Q26 Earnings Release p.26 
     

 

Balance Sheet – Foreign Currency

FOREIGN CURRENCY EXPOSURE BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Assets          
Cash and deposits in banks   3,187,327   3,821,963   2,491,524 (16.6%)   27.9%
Debt securities at fair value through profit or loss  15,509  18,091 168 (14.3%)  n.m
Other financial assets  26,035  27,946  61,109   (6.8%) (57.4%)
Loans and other financing   3,925,272   3,675,460   2,326,240  6.8%   68.7%
Other financial institutions 10   1   4  n.m   150.0%
  Non-financial private sector and residents abroad 3,924,037 3,675,455 2,326,232 6.8%  68.7%
Other debt securities  95,379  44,990   159,549 112.0% (40.2%)
Financial assets pledged as collateral   178,652   169,411   132,325  5.5%   35.0%
Investments in equity instruments 1,488 1,504 1,103   (1.1%)   34.9%
Total foreign currency assets   7,429,662   7,759,365   5,172,018   (4.2%)   43.7%
Liabilities          
Deposits   6,677,358   6,971,790   4,723,326   (4.2%)   41.4%
  Non-Financial Public Sector 577,327 108,509 101,371  432.1%  469.5%
  Financial Sector  5,764  4,693  2,644 22.8%  118.0%
  Non-financial private sector and residents abroad 6,094,267 6,858,589 4,619,311  (11.1%) 31.9%
Other financial liabilities   281,049   236,416   177,480   18.9%   58.4%
Financing received from the  B.C.R.A. and other financial institutions   187,661   337,892  72,685 (44.5%) 158.2%
Corporate bonds issued   269,075   277,916  52,805   (3.2%) 409.6%
Other non financial liabilities  70,567   107,766   145,198 (34.5%) (51.4%)
Total foreign currency liabilities   7,485,710   7,931,780   5,171,494   (5.6%)   44.7%
           
Foreign Currency Net Position - AR$ (56,048)  (172,415) 524   67.5%  n.m
           
Foreign Currency Net Position - USD  (41)   (118)  0   65.7%  n.m
*Wholesale U.S. dollar foreign exchange rates on BCRA’s Communication “A” 3500, as of the end of period.      

 
  1Q26 Earnings Release p.27 
     

 

P&L – Quarterly

INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted       ∆ %
  1Q26 4Q25 1Q25 QoQ YoY
Interest income   1,528,705   1,716,416   1,217,424 -10.9% 25.6%
Interest expense  (648,825)  (885,819)  (499,590) 26.8% -29.9%
Net interest income   879,880   830,597   717,834 5.9% 22.6%
Fee income   247,812   250,350   239,521 -1.0% 3.5%
Fee expenses (78,028)  (105,054)  (107,191) 25.7% 27.2%
Net fee income   169,784   145,296   132,330 16.9% 28.3%
Net income from financial instruments at fair value through P&L  21,210 8,987  42,701 136.0% -50.3%
Net loss from write-down of assets at amortized cost and fair value through OCI   (2,759)  57,561   106,274 -104.8% -102.6%
Foreign exchange and gold gains  53,327  61,121  10,786 -12.8% 394.4%
Other operating income  65,591  90,074  51,463 -27.2% 27.5%
Loan loss allowances  (244,848)  (325,411)  (127,077) 24.8% -92.7%
Net operating income   942,185   868,225   934,311 8.5% 0.8%
Personnel benefits  (186,502)  (149,109)  (160,702) -25.1% -16.1%
Administrative expenses  (166,318)  (158,791)  (194,064) -4.7% 14.3%
Depreciation and amortization (32,151) (35,281) (27,593) 8.9% -16.5%
Other operating expenses  (202,955)  (245,065)  (179,663) 17.2% -13.0%
Operating expenses  (587,926)  (588,246)  (562,022) 0.1% -4.6%
Operating income   354,259   279,979   372,289 26.5% -4.8%
Income from associates and joint ventures   (3,754) 3,265 981 -215.0% -482.7%
Income from net monetary position  (218,530)  (172,866)  (198,437) -26.4% -10.1%
Income before income tax   131,975   110,378   174,833 19.6% -24.5%
Income tax (46,751) (45,437) (66,616) -2.9% 29.8%
Income for the period  85,224  64,941   108,217 31.2% -21.2%
Owners of the parent  78,421  58,932   104,006 33.1% -24.6%
Non-controlling interests 6,803 6,009 4,211 13.2% 61.6%
           
Other comprehensive Income (1)  59,916   250,819  (145,660) -76.1% 141.1%
Total comprehensive income   145,140   315,760 (37,443) -54.0% 487.6%
(1) Net of Income Tax.          

 

 
  1Q26 Earnings Release p.28 
     

 

P&L – 5 Quarters

INCOME STATEMENT BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted          
  1Q26 4Q25 3Q25 2Q25 1Q25
Interest income   1,528,705   1,716,416   1,548,542   1,314,114   1,217,424
Interest expense  (648,825)  (885,819)  (857,450)  (573,844)  (499,590)
Net interest income   879,880   830,597   691,092   740,270   717,834
Fee income   247,812   250,350   245,310   220,801   239,521
Fee expenses (78,028)  (105,054) (83,498)  (103,155)  (107,191)
Net fee income   169,784   145,296   161,812   117,646   132,330
Net income from financial instruments at fair value through P&L  21,210 8,987  26,690  58,853  42,701
Net loss from write-down of assets at amortized cost and fair value through OCI   (2,759)  57,561   (4,045)   (368)   106,274
Foreign exchange and gold gains  53,327  61,121  71,596  67,816  10,786
Other operating income  65,591  90,074  84,150  47,020  51,463
Loan loss allowances  (244,848)  (325,411)  (247,834)  (180,779)  (127,077)
Net operating income   942,185   868,225   783,461   850,458   934,311
Personnel benefits  (186,502)  (149,109)  (173,765)  (177,353)  (160,702)
Administrative expenses  (166,318)  (158,791)  (172,268)  (184,696)  (194,064)
Depreciation and amortization (32,151) (35,281) (29,254) (29,504) (27,593)
Other operating expenses  (202,955)  (245,065)  (208,577)  (212,691)  (179,663)
Operating expenses  (587,926)  (588,246)  (583,864)  (604,244)  (562,022)
Operating income   354,259   279,979   199,597   246,214   372,289
Income from associates and joint ventures   (3,754) 3,265 3,790 5,047 981
Income from net monetary position  (218,530)  (172,866)  (130,962)  (138,864)  (198,437)
Income before income tax   131,975   110,378  72,425   112,397   174,833
Income tax (46,751) (45,437) (27,483) (37,829) (66,616)
Income for the period  85,224  64,941  44,942  74,568   108,217
Owners of the parent  78,421  58,932  41,416  69,242   104,006
Non-controlling interests 6,803 6,009 3,526 5,326 4,211
           
Other comprehensive Income (OCI)(1)  59,916   250,819  (195,554) (10,353)  (145,660)
Total comprehensive income   145,140   315,760  (150,612)  64,215 (37,443)
(1) Net of Income Tax.          

 
  1Q26 Earnings Release p.29 
     

 

3 Month Accumulated Results

INCOME STATEMENT - 3 MONTH ACCUMULATED BBVA ARGENTINA CONSOLIDATED
In millions of AR$ - Inflation adjusted      
  2026 2025 ∆ %
Interest income 1,528,705   1,217,424  25.6%
Interest expense   (648,825)  (499,590)   (29.9%)
Net interest income 879,880   717,834  22.6%
Fee income 247,812   239,521 3.5%
Fee expenses  (78,028)  (107,191)  27.2%
Net fee income 169,784   132,330  28.3%
Net income from financial instruments at fair value through P&L   21,210  42,701   (50.3%)
Net loss from write-down of assets at amortized cost and fair value through OCI (2,759)   106,274 (102.6%)
Foreign exchange and gold gains   53,327  10,786   394.4%
Other operating income   65,591  51,463  27.5%
Loan loss allowances   (244,848)  (127,077)   (92.7%)
Net operating income 942,185   934,311 0.8%
Personnel benefits   (186,502)  (160,702)   (16.1%)
Administrative expenses   (166,318)  (194,064)  14.3%
Depreciation and amortization  (32,151) (27,593)   (16.5%)
Other operating expenses   (202,955)  (179,663)   (13.0%)
Operating expenses   (587,926)  (562,022)  (4.6%)
Operating income 354,259   372,289  (4.8%)
Income from associates and joint ventures (1,561) 981 (259.1%)
Income from net monetary position   (219,217)  (198,437)   (10.5%)
Income before income tax 133,481   174,833   (23.7%)
Income tax  (48,257) (66,616)  27.6%
Income for the period   85,224   108,217   (21.2%)
Owners of the parent   78,421   104,006   (24.6%)
Non-controlling interests  6,803 4,211  61.6%
       
Other comprehensive Income (OCI) (1)   59,916  (145,660)   141.1%
Total comprehensive income 145,140 (37,443)   487.6%
(1) Net of Income Tax.      

 

 
  1Q26 Earnings Release p.30 
     

 

Ratios

QUARTERLY ANNUALIZED RATIOS BBVA ARGENTINA CONSOLIDATED
In %       ∆ bps
  1Q26 4Q25 1Q25 QoQ YoY
Profitability          
Efficiency Ratio 51.4% 45.9% 56.3% 545 pbs   (496)pbs
ROA 1.2% 1.1% 2.0%   10 pbs  (80)pbs
ROE 8.3% 7.3% 11.4%   99 pbs   (311)pbs
Liquidity          
Liquid assets / Total Deposits 45.5% 44.2% 47.6% 134 pbs   (206)pbs
Capital          
Regulatory Capital Ratio 18.8% 18.3% 21.5%   55 pbs   (270)pbs
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 18.8% 18.3% 21.5%   55 pbs   (270)pbs
Asset Quality          
Total non-performing portfolio / Total portfolio 5.60% 4.18% 1.38% 142 pbs 423 pbs
Allowances  /Total non-performing portfolio 88.41% 96.37% 164.32%   (795)pbs   (7,590)pbs
Cost of Risk 6.14% 8.11% 4.40%   (197)pbs 173 pbs

ACCUMULATED ANNUALIZED RATIOS BBVA ARGENTINA CONSOLIDATED
In %       ∆ bps
  1Q26 4Q25 1Q25 QoQ YoY
Profitability          
Efficiency Ratio 51.4% 53.9% 56.3%   (254)pbs   (496)pbs
ROA 1.2% 0.9% 2.0%   30 pbs  (80)pbs
ROE 8.3% 6.5% 11.4% 180 pbs   (310)pbs
Liquidity          
Liquid assets / Total Deposits 45.5% 44.2% 47.6% 134 pbs   (206)pbs
Capital          
Regulatory Capital Ratio 18.8% 18.3% 21.5%   55 pbs   (270)pbs
TIER I Capital Ratio (Ordinary Capital Level 1/ RWA) 18.8% 18.3% 21.5%   55 pbs   (270)pbs
Asset Quality          
Total non-performing portfolio / Total portfolio 5.60% 4.18% 1.38% 142 pbs 423 pbs
Allowances  /Total non-performing portfolio 88.41% 96.37% 164.32%   (795)pbs   (7,590)pbs
Cost of Risk 6.14% 6.39% 4.40%  (25)pbs 174 pbs

About BBVA Argentina

BBVA Argentina S.A. (NYSE; MAE; BYMA: BBAR; Latibex: XBBAR) is a subsidiary of the BBVA Group, its main shareholder since 1996. In Argentina, it has been one of the leading financial institutions since 1886. BBVA Argentina offers retail and corporate banking to a wide client base, including individuals, SMEs, and large corporations.

BBVA's strategy is to support its clients' ambition to go further. This is achieved through constant and empathetic support during key moments, recognizing the inner strength that drives people. The value proposition focuses on anticipation and innovation to be the ideal partner that helps clients reach their goals.

Investor Relations Contact

Carmen Morillo Arroyo – CFO

Diego Cesarini – Head of ALM & Investor Relations

Belén Fourcade – Investor Relations Manager

Agustín Lopez Alcala - Investor Relations Associate

ir.bbva.com.ar // investorelations-arg@bbva.com

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    Banco BBVA Argentina S.A.
Date: May 26, 2026   By: /s/ Carmen Morillo Arroyo
        Name: Carmen Morillo Arroyo
        Title: Chief Financial Officer