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BBVA FrancésCorporate Presentation
1°Quarter 2016
2,1%
1,4%
1,7% 1,7%
2,0%
1,7%
Source: BCRA
Dec-13 Sep-14 Jun-15 Mar-16
An player with capacity to increase its participation
17,40
9,61
8,98
8,35
6,47
6,43
4,02
3,99
3,37
3,37
6.62%6.94%
25,12
9,51
8,66
7,62
5,60
5,20
4,01
3,80
3,68
2,96
Private share
00000
75,95
24,0510,18
13,86
ADRs
ORDs
Mkt Cap $ 53,151 MMUS$ 3,645 MM
P/E $ 11,4x
BV/ Share $ 27.72
Mkt data as of March 31, 2016Exchange rate: 14.58$/US$
Floating
Mkt Data
Av. Volume (3 mths) NYSE US$ 2.4 MMBCBA $ 8.1 MM
Indicators
ORDs
Since 1996
Fix SCR* Shares 1 Neutral
Negotiable Obligations Global Program (U$S 750 million) AAA(arg)
Subordinated Senior Debt AA+ (arg)Senior Debt Short Term A1+ (arg)Senior Debt Long Term AAA (arg)
S&P Institutional Rating Long Term raBBB Neutral
Institutional Rating Short Term raA-2
Negotiable Obligations Global Program (U$S 750 million) raBBB Neutral
*In November 2013, Fitch Argentina sold 70% of its capital stock to a local investor group and changed its name to Fix Scr. This new group will be responsible for the local credit rating.
45.8%
Key lever
Digital Sales
Distribution Model
DigitalCapabilities
InfraestructureDevelopment
Organization & Culture
UX
Figures in million pesos 1°Q-16 4°Q-15 1°Q-15 ∆ Y/Y
Net Financial Income 2,980 2,854.9 2,285 30.4%
Provision for Loan Losses (161.4) (197.5) (143.1) 12.8%
Net Income from Services 931.1 960.7 960.5 -3.1%
Administrative Expenses (2,095.8) (1,889.2) (1,581.3) 32.5%
Operating Income 1,653.9 1,728.9 1,521.1 8.7%(
Income tax (550.2) (554.8) (492.5) 11.7%
Net Income 1,165.1 1,188.3 930.9 25.2%
+39.8%adjusted
+7.5%adjusted
*
2.2852.855
2.980
Net financialincome
16,8%
15,0%15,5%
Private SpreadAverage spread
- 130 bp 50 bp
YoY QoQ
YoY
+30%
960 961931
9051.079
1.220
676810 876
7.5% -2.1%
YoY QoQ
48,7%49,5%
53,6%
60,7%50,9%
44,4%
490 pb 410 pb
YoY QoQ
- 1,630 pb - 650 pb
YoY QoQ
15,277
59,135
13,303
23,414
14,881
20.292
80,101
BCRA Notes
115,275 115,275
6.75x 73.8% 45.8%
43.084
56.497 59.135
Credit Cards31%
Personal Loans13%
Car Loans 8%Mortgages 3%
+37%YoY
AverageLending Rate 25.0%
Market Share (%) 6,43 6,47 6,62
5.764
7.493 7.510
6.1827.344 7.429
Market Share (%) 17.36 18.58 18.58
Market Share (%) 4.91 4.55 4.36
+ 20 % + 1 %
YoY QoQ
+ 30 % + 0 %
YoY QoQ
12,1% 12,0%
12,3%
52,5%
75,8%69,9%
Market Share (%) 9.73 9.61 11.05
Market Share (%) 13.88 11.08 12.36
10.174
13.884 14.979
8.946 9.23510.858
+ 47.2% +7.9%
YoY QoQ
+21.4% +17.6%
YoY QoQ
2.797 3.5314.359
10.014
11.087
12.321
1.22% 0.15% 0.00%
234,0%
300,6%
283,7%
0,92%
0,64%0,69%
0%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
Coverage NPL
1,71
0,59
0,9
1,60
1,52
55.358
76.866 80.101
30%
70%
TD < 1MM
TD > 1MM
9.5%
+45%YoY
+28%
Market share (%) 6,87 6,95 6,94
Fix Rating AAA (Arg)
34,50
36,20
32,60
ROE
4,804,70
4,10
ROA
* Annualized ratios
BBVA FrancésCorporate Presentation
1°Quarter 2016