Banco BBVA Argentina S.A. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Banco BBVA Argentina S.A. has submitted its 2023 annual report (20-F), outlining financial activities, subsidiaries, and dividend information.</b>

AI Summary

Banco BBVA Argentina S.A. (BBAR) filed a Foreign Annual Report (20-F) with the SEC on April 17, 2024. Banco BBVA Argentina S.A. filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing details the company's main business activities, including financial institution operations, insurance, information services, and digital payment solutions. Key financial metrics and operational details are provided, with specific notes on accounting treatments for investments and debt exchanges. The report mentions dividends per share amounts of ARS 11.424653 and ARS 10.608606 for different periods. It includes information on various subsidiaries and their financial activities, such as BBVA Asset Management Argentina S.A.U. and PSA Finance Argentina Cía. Financiera S.A.

Why It Matters

For investors and stakeholders tracking Banco BBVA Argentina S.A., this filing contains several important signals. This filing provides a comprehensive overview of BBVA Argentina's financial performance and strategic operations for the fiscal year 2023, crucial for investors assessing the bank's stability and growth prospects. The detailed information on subsidiaries, accounting policies, and specific financial instruments offers transparency into the bank's complex financial structure and risk management practices.

Risk Assessment

Risk Level: medium — Banco BBVA Argentina S.A. shows moderate risk based on this filing. The company operates in Argentina, a market known for its economic volatility and regulatory changes, which can impact financial performance and operations.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 20-F to understand the specific impacts of the Argentine economic environment on BBVA Argentina's operations and profitability.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of Report)
• 2024-04-17 — Filing Date (Date of filing)
• 11.424653 — Dividends per share (Nominal value in pesos)
• 10.608606 — Dividends per share (Nominal value in pesos)
• 0000913059 — Central Index Key (Company identifier)
• 6029 — Standard Industrial Classification (Commercial Banks, NEC)

Key Players & Entities

• Banco BBVA Argentina S.A. (company) — Filer
• BBVA (company) — Parent company or related entity
• Play Digital S.A. (company) — Subsidiary for investment valuation
• BBVA Asset Management Argentina S.A.U. (company) — Subsidiary
• Consolidar A.F.J.P. (company) — Subsidiary undergoing liquidation
• PSA Finance Argentina Cía. Financiera S.A. (company) — Subsidiary
• Volkswagen Financial Services Compañía Financiera S.A. (company) — Subsidiary
• Ministry of Economy (regulator) — Issuing Decree No. 331/2022

FAQ

Risk Factors

• Economic and Political Environment in Argentina [high — financial]: The company's operations are significantly influenced by the economic and political conditions in Argentina, which can be volatile and subject to frequent changes.
• Regulatory Changes [medium — regulatory]: Changes in banking regulations and government policies in Argentina can impact the bank's business, profitability, and compliance requirements.
• Digital Payment Solution Development [medium — operational]: The development and implementation of digital payment solutions carry inherent risks related to technology, market adoption, and competition.

Key Financial Figures

• $15 billion — l balance in 2025, an accumulation of US$15 billion of net international reserves in the ne
• $20 billion — on in dollar inflows of approximately US$20 billion in 2023; (ii) the containment and reduc
• $40 billion — 023, international reserves went from US$40 billion (monthly average) in July 2022 to US$26
• $26 billion — ion (monthly average) in July 2022 to US$26 billion (monthly average) in July 2023 and the

Filing Documents

• d595174d20f.htm (20-F) — 10429KB
• d595174dex21.htm (EX-2.1) — 100KB
• d595174dex81.htm (EX-8.1) — 3KB
• d595174dex121.htm (EX-12.1) — 6KB
• d595174dex122.htm (EX-12.2) — 6KB
• d595174dex131.htm (EX-13.1) — 5KB
• d595174dex97.htm (EX-97) — 15KB
• g595174g43g01.jpg (GRAPHIC) — 80KB
• g595174g43g02.jpg (GRAPHIC) — 56KB
• g595174g56g56.jpg (GRAPHIC) — 27KB
• g595174snap0002.gif (GRAPHIC) — 3KB
• g595174sp180.jpg (GRAPHIC) — 20KB
• g595174sp9.jpg (GRAPHIC) — 5KB
• 0001193125-24-099078.txt (&nbsp;) — 39888KB
• bbar-20231231.xsd (EX-101.SCH) — 369KB
• bbar-20231231_cal.xml (EX-101.CAL) — 171KB
• bbar-20231231_def.xml (EX-101.DEF) — 727KB
• bbar-20231231_lab.xml (EX-101.LAB) — 1492KB
• bbar-20231231_pre.xml (EX-101.PRE) — 1114KB
• d595174d20f_htm.xml (XML) — 10589KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 1 PRESENTATION OF FINANCIAL INFORMATION 2 CERTAIN TERMS AND CONVENTIONS 3 PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 4 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 4 ITEM 3. KEY INFORMATION 4 ITEM 4. INFORMATION ON THE COMPANY 30 ITEM 4A. UNRESOLVED STAFF COMMENTS 109 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 109 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 136 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 151 ITEM 8. FINANCIAL INFORMATION 154 ITEM 9. THE OFFER AND LISTING 155 ITEM 10. ADDITIONAL INFORMATION 159 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 171 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 180 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 182 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 182 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 182 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 184 ITEM 16B. CODE OF ETHICS 184 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 184 ITEM 16D. EXEMPTIONS FROM LISTING REQUIREMENTS FOR AUDIT COMMITTEES 185 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 185 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 185 ITEM 16G. CORPORATE GOVERNANCE 185 ITEM 16H. MINE SAFETY DISCLOSURE 188 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 188 ITEM 16J INSIDER TRADING POLICIES 188 ITEM 16K. CYBERSECURITY 189 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 191 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 191 ITEM 19. EXHIBITS 191 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Form 20-F contains words, such as "believe", "expect", "estimate", "intend", "plan", "may" and "anticipate" and similar expressions that identify forward-looking statements, which reflect our views about future events and financial performance. Actual results could differ materially as a result of factors beyond our control, including but not limited to: changes in general economic, business or political or other conditions in the Republic of Argentina ("Argentina" or "the Republic") or changes in general economic or business conditions in worldwide; governmental intervention and regulation (including banking and tax regulations); developments in the global financial markets; deterioration in the Argentine financial system or regional business and economic conditions; inflation; the outbreak and spread of a pandemic and other large-scale public health events; changes in exchange rates or capital markets in general that may affect policies towards or lending to Argentina or Argentine companies; changes in interest rates which may adversely affect our margins; adverse legal or regulatory disputes or proceedings; credit and other risks of lending, such as increases in defaults by borrowers and other delinquencies; increase in the provisions for loan losses; fluctuations and declines in the value of Argentine public debt; decreases in deposits or in the number of our customers; competition in the banking, financial services and related industries and the loss of market share; unanticipated increases in financing and other costs or the inability to obtain additional debt, equity or wholesale financing on attractive terms or at all; and the factors discussed under "Item 3. Key Information—D. Risk Factors" . Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Banco BBVA Argentina S.A. ("BBVA Argentina" or the "Bank") un

Selected Financial Data

Selected Financial Data Reserved. B. Capitalization and indebtedness Not applicable. C. Reasons for the offer and use of proceeds Not applicable. D.

Risk Factors

Risk Factors The following summarizes some, but not all, of the risks provided below. Please carefully consider all of the information discussed in this Item 3.D. "Risk Factors" in this annual report for a more thorough description of these and other risks: Risks Relating to Argentina economic and political instability in Argentina; current levels of inflation; high levels of public spending; the Argentine economy could be adversely affected by economic events in other markets; a decline in international prices for or in the amount of Argentina's principal commodity exports; exchange controls and restrictions on capital inflows and outflows; the insufficiency of the measures adopted to resolve the crisis in the energy sector; any failure to adequately address actual and perceived risks of institutional deterioration and corruption; fluctuations in the value of the peso; the inability of the Republic to obtain financing on satisfactory terms; salary increases or additional employments benefits as a result of government measures or pressure from union sectors; government intervention in the Argentine economy; amendments to the Central Bank's Charter and the Convertibility Law; and the outbreak and spread of a pandemic and other large-scale public health events. Risks Relating to the Argentine Financial System and to BBVA Argentina the short-term structure of the deposit base of the Argentine financial system, including the deposit base of the Bank, could lead to a reduction in liquidity levels and limit the long-term expansion of financial intermediation; reduced spreads between interest rates received on loans and those paid on deposits; volatility in interest rates; a mismatch between UVA ("Unidad de Valor Adquisitivo", in Spanish) loans and UVA deposits; 4 Table of Contents the inaccuracy and/or insufficiency of our estimates and established reserves for credit risk and potential credit losses; exposure to public se

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View this 20-F filing on SEC EDGAR