BBVA Argentina 1Q20 Corporate Presentation June 2020 Corporate - - PowerPoint PPT Presentation

BBVA Argentina

1Q20 Corporate Presentation

June 2020

1 Corporate Presentation 1Q20

Safe Harbour 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

• nly 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 Comision 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.

2 Corporate Presentation 1Q20

Information

This corporate presentation 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.”), with the transitory exceptions: (i) the record of a prevision for contingencies referred to uncertain fiscal positions required by the B.C.R.A., (ii) the adjustment in valuation established by the B.C.R.A. applied to the valuation of the remaining investment the Bank keeps of Prisma Medios de Pago S.A. (“Prisma”), and (iii) the temporary exclusion of the application of the IFRS 9 impairment model for non-financial public sector debt instruments. As of 1Q20, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2019 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to March 31, 2020. 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., Consolidar AFJP-undergoing liquidation proceeding, and as of July 1, 2019, PSA Finance Argentina Compañía Financiera S.A. (“PSA”) and Volkswagen Financial Services Compañía Financiera S.A (“VWFS”). BBVA Consolidar Seguros 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”) 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 and VWFS, financial statements were prepared considering the B.C.R.A. accounting framework for institutions belonging to “Group B”, without considering the model established by the IFRS 9 5.5. “Impairment” section for periods starting as of January 1, 2021. The information published by the BBVA Group for Argentina is prepared according to IFRS, without considering the temporary exceptions established by BCRA.

Employees**

6,233

Branches

246

AR$1.9 bn

Net Fee Income

2.78%

NPL ratio

186.12%

Coverage ratio

AR$512.7 bn Total assets AR$225.5 bn Loans to the private sector AR$328.0 bn Total Deposits

TOTAL ACTIVE CUSTOMERS

MARCH 2020

PRV3

58.7%

RETAIL

+2.5 m

• 1. Digital Customers: 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
• 2. Mobile Customers: Customers who have been active in online banking at least once in the last three months using a mobile device
• 3. PRV: Product Relative Value as a proxy of a better economic representation of units sold

*Operating expenses: includes administration, personnel benefits, depreciations and other expenses. **corresponds to total effective employees, net of temporary contract employees

ATMs

878

ATSs

850

AR$16.4 bn

Net Interest Income

47.4%

Efficiency ratio

AR$3.1 bn

Net Income

AR$12.0 bn

• Op. Expenses*

2.5%

ROA

14.5%

ROE

DIGITAL SALES

SMEs CIB

+50 k +700

Digital Customers1

+1.7 m

Mobile Customers2

+1.4 m

BBVA Argentina 1Q20 Highlights

In-company branches

15

Customer service booths

2

As of 1Q20, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2019 have been updated according to IAS 29 reporting to reflect the accumulated effect of inflation adjustment for each period up to March 31, 2020.

4 Corporate Presentation 1Q20

Main Variables

69.67

$/US$

ARS/USD rate +58.7% YoY

43.1

U$S Bn

INTERNATIONAL RESERVES

• 33.4% YoY

43.4%

May’20

INFLATION YoY 44.4% REM Consensus

• Dec. 2020

38.0%

Monetary Policy Rate

• 2.866 bp YoY
• The National Government extended the mandatory lockdown until late June for the metropolitan area and main urban centers.

Only some activities are returning in CABA, mainly small shops that had remained closed.

• April recorded a 1.5% MoM change in inflation (45.6% YoY), below the REM estimate (2.3% MoM), in line with a context of FX

controls, freezed tariffs and further recession.

• The EMAE indicator (GDP proxy) contracted 11.5% YoY in March El EMAE (proxy PIB) resulting in a -4.8% fall in 1Q20. This

fall was above expected due to the mandatory lockdown started in late March. Effects of the lockdown were remarkable on industry and construction during April. Industrial production fell 33.5% YoY (-18.3% MoM w/o seasonal effect, and -13.5% YoY accumulated), affecting all sectors substantially. Construction fell 75.6% YoY (-51.5% MoM w/o seasonal effect, and - 40.2% YoY accumulated)

• The Government extended until June 19 the period to reach an agreement with bondholders. In this context, the BCRA

implemented restrictive measures (related to imports and capital payments of foreign currency denominated private debt) to cut the fall in international reserves.

Macro View

As of June 16, 2020

INFLATION ACTIVITY SOVEREIGN DEBT POLITICS

• The mandatory lockdown put pressure on tax collection in May. Although in nominal terms tax collection increased 12.4%

YoY, estimated inflation for the same period was 45.1%. The VAT tax fell 27% YoY in real terms, denoting the deterioration in economic conditions in May. Income tax collection fell 24% YoY in real terms.

FISCAL POLICY

Our Response to COVID-19 Crisis

Protect the health and safety of our employees, clients and the community Continue to provide an essential service in the current local scenario Offer financial support to our clients and the community

Customer comes first We think big We are one team

Our Purpose and Values, more relevant than ever

We Face this Crisis from a Strong Position

Sound capital position and proven capacity to generate capital Comfortable liquidity position Digital edge as a competitive advantage

7 Corporate Presentation 1Q20

Donations & Human Capital

The Bank joined this campaign promoting the use of digital media channels to make clients aware of the benefits of

• perating in an agile and

self-serviced way without moving from their homes

AR$10 million

Argentina nos necesita

Initiative that aims to strengthen the capacity of the Argentine public and private health service systems in

• rder to better respond to the

Covid-19 pandemic, in coordination with the Argentine Ministry of Health. Voluntary initiative with the Red Cross, in which more than $500,000 were collected, reaching more than $1 million when added to the funds doubled by the Bank.

More than 90% of employees at central offices are working remotely. All branches remain open and operational, and many are working up to 100% capacity due to high demand in appointments.

#StayAtHome

#YoMeQuedoEnCasa

AR$1 million

Tu donación vale el doble

AR$10 million

Seamos Uno

Initiative involving religious, social and business institutions working closely with the Argentine government to help 4 million people during the pandemic, with food boxes and hygiene products.

1st Sustainable Loan

BBVA Argentina granted the first sustainable loan under the Sustainable Transactional Banking framework, connected to the UN Sustainable Development Goals

8 Corporate Presentation 1Q20

Main Measures taken (including Regulatory Changes)

Automatic re-financing of unpaid credit card balances due on April 30. Modification in the calculation of credit card minimum payments to make them more accessible. Penalties on unpaid current account charges, and closure and disabling of accounts, were suspended until April 30. Fines and fees for returned checks were also suspended. The Bank credited cash withdrawal costs at its own and other banks’ ATMs until September 30, and incremented daily withdrawal limits. Value of mortgage and pledge loan payments were freezed from April 1 to September 30. Unpaid instalments will be paid as of October. The Bank launched the “Ayuda Covid-19” credit line, aimed at clients with credit cards, personal loans and current accounts with a high probability of default: loans of 60 month maturity, first payment due at 120 days, to enable the sorting out of debt.

Retail Segment

Plan Sueldo clients that do not have debit cards can withdraw cash through the Cash Express service. Granted credit to more than 8,000 SMEs, to be allocated in payroll payments, discounted instruments and working capital, at a 24% nominal annual rate. This also included loans to the Health sector. The Bank has granted a special credit line for payroll payments for SMEs, which includes a 24% nominal annual rate, backed by the Fondo de Garantías Argentino (FoGAr) warrants. 92% of credits were granted through BBVA Net Cash, the online banking for companies. Currently, the Bank is working on credit lines for self-employed individuals at a 0% rate, promoted by the National Government. Credit lines for high reciprocity clients, with a 15 month maturity and first instalment payment in 90 days

Commercial Segment

9 Corporate Presentation 1Q20

Main Regulatory Changes

Borders closed and nation-wide early mandatory lockdown on March 19, initially for a period of 15 days and extended up to- date. Ban on wrongful dismissals and layoffs for 60 days as of May 18, 2020 (previously set on March 19). Mortgage and pledge loan payments freezed and suspension of mortgage foreclosures until September 30, 2020. Deferral of payments on Argentine law sovereign debt in U.S. dollars. FoGAr fund to back financing from banks to SMEs. Suspension of bank account closure until September 30, 2020.

Argentine Government

Easing of reserve requirements. Limits on LELIQ position by banks to enable liquidity for subsidized loans. Time deposit mínimum rate. Easing

• n

debtor classification until September 30, 2020. Additional 60 day grace period for each stage. Postponement of personal and credit card loan payments. Fees on ATM transactions suspended, and suspension of new fees and fee increments. Credit card loans rate cap at 43% from 55%. Postponement of dividend distribution until December 31, 2020. Restrictions on FX and foreign currency securities market. Easing on capital requirements.

Argentine Central Bank

10 Corporate Presentation 1Q20

x24

DIGITAL LOANS

x16

ISSUED ECHEQS

Reorienting our clients to remote and digital channels

In this context, our digital capacities are a competitive advantage

60%

WIRE TRANSFERS

33%

APP AND DESKTOP LOGINS

x3

INTERACTIONS THROUGH VIRTUAL ASSISTANT*

All indicators correspond to the period February-May 2020 *MoM as of April 2020

Financial System

01

12 Corporate Presentation 1Q20

Adequate systemic levels of liquidity and solvency

Source: “Informe sobre bancos”, BCRA, as of March, 2020. Values as of January 2020 are not comparable to previous periods due to inflation adjustments.

CAPITAL (%)

Capital/RWA according to BCRA regulation

LIQUIDITY (%)

Cash + net repos with BCRA+ BCRA bills/Total Deposits

NPL (%)

Irregular non-financial private sector portfolio/Financing to the non-financial private sector 16.7% 15.6% 16.0% 17.6% 21.8% 49.0% 42.6% 56.6% 60.1% 64.6% 1.8% 1.8% 3.1% 5.7% 5.3% 137% 139% 121% 96% 100%

2016 2017 2018 2019 1Q20

BBVA LIQUIDITY 68.7% BBVA CAPITAL 21.8% BBVA NPL 2.78%

COVERAGE (%)

Allowances /Irregular non-financial private sector portfolio BBVA COVERAGE 186.12%

13 Corporate Presentation 1Q20 29.4% 26.6% 35.6% 59.2% 17.8% 39.4% 24.8% 47.6% 53.8% 29.6% 23.4% 36.1% 44.4% 13.5%

2016 2017 2018 2019 1Q20

ROE Private BanKs YoY Inflation ROE System

Positive nominal and real profitability for private banks

ROE (ACCUMULATED ANNUALIZED) AND INFLATION

Source: BCRA and IPC CABA (from Jan-13 to Apr-16) – IPC GBA INDEC (from May -16 to May -17) – IPC Nacional INDEC (from June -17) ROE: “Informe sobre Bancos” BCRA as of March, 2020. Values as of January 2020 are not comparable to previous periods due to inflation adjustments.

BBVA ROE 14.5% Inflation adjusted figures

14 Corporate Presentation 1Q20

A small financial system with good infrastructure, ready for potential growth

LATAM PRIVATE LOANS AND TOTAL DEPOSITS (% of GDP) BRANCHES AND ATMs/100,000 ADULT POPULATION

(Branches and ATMs / 100,000 adult population)

Source: IMF and BBVA Research as of 2018 for Credit and Deposits as % of GDP, and as of 2017 for Branches and ATMs. Last information available..

9.9% 15.9% 94.7% 60.1% 45.5% 40.7% 34.7% 32.2%

Credit (%GDP) Deposits (%GDP)

Argentina Chile Colombia Peru

13.5 58.9 14.0 49.9 14.9 42.3 73.6 11.5

Branches ATMs

Argentina Chile Colombia Peru

15 Corporate Presentation 1Q20

Financial System Private Nominal Growth Rates

RETAIL & COMMERCIAL LOANS GROWTH (AR$ billions, YTD % as of 1Q20)

Var YoY% 2017 2018 2019 1Q20 YTD System Commercial Loans 52% 36% 15% 6% System Retail Loans 51% 30% 16% 2% System Total Private Loans 52% 33% 16% 4% BBVA Total Private Loans 66% 39% 2% 12%

DEMAND & TIME DEPOSITS GROWTH (AR$ billions, YTD % as of 1Q20)

Sources: BCRA as of March, 2020

500 1,000 1,500 2,000 2,500 3,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

System Retail loans System total private loans System Commercial loans BBVA Total Private Loans +4% +6% +2% +12%

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

System Time Deposits System Total Private Deposits System Sight Deposits BBVA Total Private Deposits +17% +20% +11% +12%

Var YoY% 2017 2018 2019 1Q20 YTD System Sight Deposits 34% 52% 30% 20% System Time Deposits 23% 79% 19% 11% System Total Private Deposits 30% 62% 26% 17% BBVA Total Private Deposits 37% 67% 13% 12%

BBVA Argentina

02

17 Corporate Presentation 1Q20

A leading bank…

Source: “Informe de entidades financieras”, BCRA, as of December 2019. Last information available.

1,325 596 621 548 431 425 299 250 232 225 1,780 6,732 19.7% 8.9% 9.2% 8.1% 6.4% 6.3% 4.4% 3.7% 3.4% 3.3% 26.4%

Nación Galicia Santander Provincia BBVA Macro HSBC Ciudad Credicoop ICBC Rest of the System Financial System

Assets (AR$ bn - % Market Share)

120 90 78 64 64 54 36 37 33 30 291 897 13.3% 10.0% 8.7% 7.2% 7.2% 6.0% 4.0% 4.1% 3.7% 3.3% 32.4%

Nacion Macro Galicia BBVA Santander Provincia Citi ICBC Patagonia Credicoop Rest of the System Financial System

Equity (AR$ bn - % Market Share)

Public Banks Private Banks 40.8 35.2 31.0 25.6 22.7 17.6 14.8 13.5 12.3 7.6 135.9 316.2 12.9% 11.1% 9.8% 8.1% 7.2% 5.6% 4.7% 4.3% 3.9% 2.4% 43.0%

Macro Galicia BBVA CITI Santander Patagonia Credicoop ICBC HSBC Provincia Rest of the System Financial System

Earnings (AR$ bn - % Market Share)

1,206 557 518 494 368 336 268 220 203 187 1,480 5,836 20.7% 9.5% 8.9% 8.5% 6.3% 5.7% 4.6% 3.8% 3.5% 3.2% 25.4%

Nacion Santander Galicia Provincia BBVA Macro HSBC Ciudad Credicoop ICBC Rest of the System Financial System

Liabilities (AR$ bn - % Market Share)

18 Corporate Presentation 1Q20

*Includes PSA + Volkswagen+Rombo. Source: “Informe de entidades financieras”, BCRA, as of December 2019. Last information available..

…in a fragmented financial system…

393 301 274 240 209 182 109 109 93 78 652 2,642 14.9% 11.4% 10.4% 9.1% 7.9% 6.9% 4.1% 4.1% 3.5% 3.0% 24.7%

Nacion Galicia Santander Provincia Macro BBVA HSBC Ciudad ICBC Patagonia Rest of the System Financial System

Total Private Loans (AR$ bn - % Market Share)

1,115 475 449 398 293 262 219 193 185 128 1,119 4,837 23.1% 9.8% 9.3% 8.2% 6.1% 5.4% 4.5% 4.0% 3.8% 2.7% 23.1%

Nacion Santander Provincia Galicia BBVA Macro HSBC Ciudad Credicoop ICBC Rest of the System Financial System

Total Private Deposits (AR$ bn - % Market Share)

7.3%* Public Banks Private Banks

19 Corporate Presentation 1Q20

…with a diversified business model

Physical Structure

 Branches  ATM/ATS  Call center  Customer service booth  POS*  In-Company banks

MULTICHANNEL STRUCTURE

Digital Channels

 Web  Mobile

Exclusive Partnerships

JVs ALLIANCES

*POS: Includes points of sale in supermarkets and shopping centers

1Q20 Financial Results

03

21 Corporate Presentation 1Q20

1Q20 Highlights – In Real Terms

01

Net Income

02 Net Interest Income 05

Risk indicators

06 Strong capital position

07 Focus on shareholder value AR$ 16.4 bn NPL ratio 2.78% Capital Ratio 21.8% TIER I 21.2% AR$ 3.1 bn

03 Net Fee Income

Coverage ratio 186.12% ROE 14.5% ROA 2.5%

04

Operating expenses

• 36.2% YoY

+9.3% YoY AR$ 1.9 bn

• 18.5% YoY

AR$ 12.0 bn +8.7% YoY

22 Corporate Presentation 1Q20

Balance Sheet Structure

Total Loans/Total Deposits 67%

ASSETS (AR$ billions, INFLATION ADJUSTED) LIABILITIES & EQUITY (AR$ billions, INFLATION ADJUSTED)

67% 66% 67%

LOANS /DEPOSITS

26% 34% 29% 16% 11% 15% 46% 43% 43% 12% 12% 14%

593 490 513

1Q19 4Q19 1Q20

Cash and Deposits in banks Private and Public Debt securities Loans and other financing Other assets

70% 65% 64% 13% 17% 17%

593 490 513 1Q19 4Q19 1Q20

Total Equity Other liabilities Financing received from other financial inst Corporate bonds issued Deposits

23 Corporate Presentation 1Q20

Loans – Prudential Reduction of USD Loans

NET PRIVATE LOANS STRUCTURE

Personal Loans

22.4%

Mortgages

12.0%

Car Loans

15.5% PRIVATE SECTOR LOANS MARKET SHARE %*

1Q19 4Q19 1Q20

Bank 7.72% 6.93% 7.50% Consolidated** 8.59% 7.71% 8.35%

*Based on daily information from BCRA. Capital balance as of last day of each quarter. **Consolidates PSA, VWFS and Rombo

*Corporate credit cards included

+15%

61% 82% 82% 39% 18% 18%

273 217 225

1Q19 4Q19 1Q20

ARS USD

• 60.9%

+ 10.8%

TOTAL PRIVATE LOAN PORTFOLIO (AR$ billions, INFLATION ADJUSTED)

Public + Financial Sector 2% Corporate 20% SMEs 26% Retail* 52%

Financial Sector 2% Agricultural and Livestock 4% Mining products 10% Other manufacturing 14% Electricity, oil,water and sanitary services 1% Wholesale and retail trade 6% Transport 1% Services 1% Others 12% Construction 1% Consumer 49%

NET TOTAL LOANS BY ECONOMIC ACTIVITY

24 Corporate Presentation 1Q20

Loans by Segment

BBVA ARGENTINA (% over total private loans AR$ billions, inflation adjusted)

12% 12% 9% 6% 7% 7% 13% 12% 11% 4% 7% 13% 25% 36% 31% 4% 4% 29% 9% 12% 9% 12% 13%

273 217 225

1Q19 4Q19 1Q20

Discounted instruments Mortgage Loans Consumer loans Overdrafts Credit Cards Receivables from financial leases Pledge Loans Loans for the prefinancing and financing of exports Other loans

Mortgage Loans 13% Pledge Loans 7% Consumer loans 20% Credit Cards 60%

AR$ 118 bn

RETAIL (%) 52% OF PRIVATE LOANS

Overdrafts 27% Discounted instruments 19% Financial Leases 2% Prefinancing and financing of exports 25% Other loans 26%

AR$ 108 bn

* Other loans includes: PIV

COMMERCIAL (%) 48% OF PRIVATE LOANS

25 Corporate Presentation 1Q20

Retail Loan Portfolio

5.30% 5.00% 4.82%

CONSUMER LOANS MARKET SHARE*

*Based on daily information from BCRA. Capital balance as of last day of every quarter.

• 34%

*Credit cards: Consumption market share. Based on information provided by Visa and Mastercard

• administrators. Spending is considered as of the end of the last month of the quarter.

CREDIT CARD MARKET SHARE %*

1Q19 4Q19 1Q20 Financing 11.18% 12.19% 11.56% Consumption 14.77% 15.35% 14.44% 36.2 25.4 23.8

1Q19 4Q19 1Q20

67.6 77.7 70.4 2,085 2,248 2,252

62.00 64.00 66.00 68.00 70.00 72.00 74.00 76.00 78.00 80.00

1Q19 4Q19 1Q20

Credit Cards Credit card stock (in thousands)

+4%

CONSUMER LOANS (AR$ billions, INFLATION ADJUSTED) CREDIT CARDS (AR$ billions, INFLATION ADJUSTED)

26 Corporate Presentation 1Q20

Retail Loan Portfolio

14.12% 13.35% 15.00%

PLEDGE LOANS MARKET SHARE**

**Consolidated market share. Based on daily information from BCRA. Capital balance as of last day of every quarter.. *Based on daily information from BCRA. Capital balance as of last day of every quarter.

3.39% 3.15% 3.09%

MORTGAGE LOANS MARKET SHARE*

247%

16.4 15.3 15.1

1Q19 4Q19 1Q20

• 8%

PLEDGE LOANS (CONSOLIDATED) (AR$ billions, INFLATION ADJUSTED) MORTGAGE LOANS (AR$ billions, INFLATION ADJUSTED)

2.4 1.7 1.3 7.6 7.2

2.4 9.3 8.51

1Q19 4Q19 1Q20

Bank JVs

27 Corporate Presentation 1Q20

• 16%

Commercial Banking Loan Portfolio

COMMERCIAL LOANS BY CURRENCY (%)

*Based on daily information from BCRA. Capital values as of last day of every quarter.

COMMERCIAL LOANS (AR$ billions, INFLATION ADJUSTED)

**Other financing: 59% in pesos - 41% in foreign currency

COMMERCIAL LOANS MKT SHARE%*

1Q19 4Q19 1Q20 Loans in $ 7.49% 7.55% 8.97% Loans in USD 10.55% 5.74% 7.58%

8% 17% 27% 22% 29% 19% 2% 2% 2% 52% 22% 25% 16% 30% 26%

150 89 108

1Q19 4Q19 1Q20

Other loans Prefinancing and financing of exports Receivables from financial leases Discounted instruments Overdrafts

• 61% USD

+41% ARS

ARS 62.5% USD 37.5%

28 Corporate Presentation 1Q20

Deposits

PRIVATE DEPOSITS STRUCTURE

7.75% 7.14% 6.79%

PRIVATE DEPOSITS MARKET SHARE*

*Based on daily information from BCRA. Capital balance as of last day of every quarter.

• 21%

IN AR$ (%) IN USD (%)

52% 60% 65% 48% 40% 35%

411 314 324

1Q19 4Q19 1Q20

ARS USD

Checking Accounts 30% Savings Accounts 32% Time Deposits 34% Other 4%

AR$ 210 bn

Savings accounts 83% Time deposits 14% Other 3%

AR$ 114 bn

TOTAL PRIVATE DEPOSITS (AR$ billions, INFLATION ADJUSTED)

29 Corporate Presentation 1Q20

1Q20 Profitability Indicators

ROA(%, INFLATION ADJUSTED) ROE (%, INFLATION ADJUSTED) EFFICIENCY (%, INFLATION ADJUSTED)

+533 bps

• 104 bps

4.9 3.9 3.1

1Q19 4Q19 1Q20

• 36%

3.5% 3.2% 2.5%

1Q19 4Q19 1Q20

26.1% 19.4% 14.5%

1Q19 4Q19 1Q20

• 1,152bps

42.0% 46.3% 47.4%

1Q19 4Q19 1Q20 NET INCOME (AR$ billions, INFLATION ADJUSTED)

30 Corporate Presentation 1Q20

26% 25% 25% 33% 29% 31% 27% 31% 29% 11% 14% 13% 81% 78% 79% 11% 21% 18%

28 31 25

• 13
• 11
• 8

(20) (15) (10) (5)

• 5

10 15 20 25 30 35

• 2
• 1
• 1

1 1 2

1Q19 4Q19 1Q20

Net Interest Income

Interest Income Financial Sector Other Interest Income Commercial Retail From Private and Public Securities Interest Expense Time deposits Other Checking accounts

Savings accounts represent less than 1% of expenses

+9%

NII based on Increase in sight deposits and decrease in passive rates, despite the fall in activity and changes in BCRA monetary policy.

15 .0 19.2 16.4

NET INTEREST INCOME (IN AR$ BILLIONS)

NET INTEREST INCOME (AR$ billions, INFLATION ADJUSTED)

31 Corporate Presentation 1Q20

Net Fee Income and Operating Expenses

NET FEE INCOME (AR$ billions, INFLATION ADJUSTED) OPERATING EXPENSES (AR$ billions, INFLATION ADJUSTED)

5.9 5.8 5.4

• 3.6
• 4.0
• 3.5

2.3 1.8 1.9

1Q19 4Q19 1Q20

Fee Income Fee expenses Net Fee Income

• 19%

32% 27% 37% 24% 25% 30% 9% 11% 7% 34% 37% 26%

13.1 17.3 12.0

1Q19 4Q19 1Q20

Personnel benefits Adminsitrative expenses Depreciation and amortization Other operating expenses

• 9%

32 Corporate Presentation 1Q20

Sound Risk Indicators

NPL & COVERAGE (%, consolidated, INFLATION ADJUSTED) NPL PEER GROUP & FINANCIAL SYSTEM (%, INFLATION ADJUSTED)

5.30% 6.70% 3.63% 2.78% 1.36%

System SUPV GGAL BBAR BMA

Source: System: “Informe de Bancos”, BCRA, as of March 2020. Peers & BBVA : 1Q20 Earnings Releases.

Cost of Risk: calculated as Loan loss allowances / Total Loans and other financing

110.91% 154.46% 186.12% 2.23% 3.53% 2.78% 2.40% 5.10% 3.00%

1Q19 4Q19 1Q20

Coverage NPL Cost of Risk

33 Corporate Presentation 1Q20

Limited Public Sector Exposure

*Source: “Informe sobre bancos”, BCRA, as of March 2020. As of January 2020, System figures are inflation adjusted and not comparable to prior periods.

Provinces and Public Sector loans amount for 0.3% in 1Q20

BBVA BCRA EXPOSURE (AR$ billions, INFLATION ADJUSTED)

% PUBLIC SECTOR EXPOSURE (EXCL. BCRA) /TOTAL ASSETS

(INFLATION ADJUSTED)

BBVA PUBLIC SECTOR EXPOSURE (AR$ billions, INFLATION ADJUSTED)

6.6% 3.5% 3.6% 9.7% 9.90% 9.20%

1Q19 4Q19 1Q20

BBVA Financial System* 33% 54% 61% 18% 1% 1% 44% 38% 49%

39.4 17.4 18.3

1Q19 4Q19 1Q20

Public Debt in pesos Public Debt in US dollars Public Debt in pesos, US dollar-Linked Repo 79% 100% 95% 21% 5%

55.5 35.7 59.4

1Q19 4Q19 1Q20

Leliqs Loans to the B.C.R.A. Repo

34 Corporate Presentation 1Q20

Liquid Assets – Improvement in Mix Structure

TOTAL LIQUID ASSETS (%, INFLATION ADJUSTED)

61% 71% 69%

TOTAL LIQUID ASSETS/TOTAL DEPOSITS

• 12%

+13%

9% 23% 17% 48% 52% 47% 4% 2% 7% 8% 8% 18% 16% 25% 13%

261 229 230

1Q19 4Q19 1Q20

Cash B.C.R.A Other local and foreign financial institutions Government securities Liquidity bills of B. C. R. A. Net REPO transactions

10% 19% 20% 54% 51% 50% 2% 2% 3% 34% 29% 27%

411 314 324

1Q19 4Q19 1Q20

Current account Savings account Other Time deposits

LOW COST FUNDING

73%

PRIVATE DEPOSIT BASE (%, INFLATION ADJUSTED)

35 Corporate Presentation 1Q20

Strong Capital Position – In Real Terms

18.4% 20.4% 21.8% 17.7% 19.8% 21.2%

1Q19 4Q19 1Q20

Capital Ratio Tier I

Minimum Capital Requirement (8%) Additional buffer (+3,5%)

The increase in capital ratios are affected by the initial IAS 29 adjustment over non-monetary assets, and the change in BCRA regulation (Communication “A” 6938)

• ver provisions which allows banks to consider as Con1, the difference between loan loss allowances recorded by IFRS 9 and provisions recorded as of November 30,

2019 with previous methodology ($3.4 billion).

BBVA Purpose

04

BBVA Defined a New Strategy in 2015: To Boost its Transformation

OUR PURPOSE STRATEGIC PRIORITIES

Better client experience Digital sales New business models Optimization of capital allocation Leading efficiency The best team

To bring the age of opportunity to everyone

Customer comes first We think big We are one team

OUR VALUES

38 Corporate Presentation 1Q20

BBVA Argentina Digital Client Strategy Approach

Client acquisition as a key corporate strategic asset for growth

Since 2017*, active clients increased 13% More than 290,000 clients Healthy NPL ratio With an approach in open market Payroll acquisition New clients, increasing payroll market share Loyalty Consistently leading in customer satisfaction indicator

NPS* #1

Successfully acquiring clients Without increasing the number of branches Ahead of curve in digital transformation Driving client acquisition and digital sales

*As of December 2019

39 Corporate Presentation 1Q20

2,085 2,248 2,252

1Q19 4Q19 1Q20

BBVA Argentina Active Clients

Active clients: holders of at least one active product. An active product is in most cases a product with at least “one movement” in the last 3 months, or a minimum balance. CIB does not include Mutual Fund clients. Source: active credit cards and credit card market share based on Visa and Mastercard information.

MORE active customers

In thousands

Since 1Q19, active clients increased 5%, more than 129,000

MORE active credit cards INCREASING credit card share

In thousands

+8%

2,435 2,598 2,562 47 53 50 0.75 0.75 0.76

2,483 2,652 2,613

1Q19 4Q19 1Q20

Total Retail Total SMEs Total CIB

+5%

10.5% 11.4% 11.4% 12.2% 12.5% 12.7% 10.5% 11.1% 11.0% 7.3% 7.9% 8.0%

1Q19 4Q19 1Q20

BBAR SAN GAL BMA

40 Corporate Presentation 1Q20

BBVA BMA SUPV GAL

Geographic Structure as of December 2019

*Annual variation in number of branches Source: “Informe de entidades financieras”, BCRA, as of December 2019. Last information available. Clients: from 2019 20-F for SUPV and GAL, 2019 Annual Report for BMA.

7% 15% 33% 22% 4% 16% 5%

CABA Prov Bs. As Litoral NOA Cuyo Centro Patagonia

33% 34% 10% 4% 6% 7% 7%

CABA Prov Bs. As Litoral NOA Cuyo Centro Patagonia

23% 39% 2% 1% 29% 6% 1%

CABA Prov Bs. As Litoral NOA Cuyo Centro Patagonia

32% 37% 10% 4% 5% 7% 6%

CABA Prov Bs. As Litoral NOA Cuyo Centro Patagonia

Successfully acquiring clients without increasing the number of branches Clients per branch increased 12% from 2017 to 2019

Total Branches 251 183 326 460 YoY Chg*

• 1

+ 4 + 4 +25 Clients Per Branch 10,565 9,836 8,282 8,043 Branch Mkt Share 5.43% 3.96% 7.05% 9.95%

41 Corporate Presentation 1Q20 1.19 1.43 1.47

1Q19 4Q19 1Q20

Ahead of Curve in Digital Transformation Based on Global Strategy

MOBILE ACTIVE CLIENTS MILLION, % GROWTH DIGITAL ACTIVE CLIENTS MILLION, % GROWTH

CUSTOMER PENETRATION RATE, %

67.8%

63.1% 66.5%

Digital customers: number of retail clients that have logged in any of the bank’s digital platforms at least once during each of the last 3 months. Mobile customers: number of retail clients that have logged in the bank’s mobile app at least once during each of the last 3 months. It is a sub-group of digital customers.

+13% +23%

Digital client acquisition strategy based on a variable-cost selling model, exclusive and attractive offers, and key partners

Payments

We have implemented NFC technology, after a successful pilot trial through employees in February.

Systemic player

Together with Santander and Banco Galicia, creation of Play Digital Company for the development of a payment solutions platform grouping all promotional offers that banks have for their clients.

Latest Digital Actions

1.57 1.76 1.77

1Q19 4Q19 1Q20

56.1%

47.9% 53.8%

42 Corporate Presentation 1Q20

Asset Quality Performance

Source: “Informe sobre bancos”, BCRA, as of March 2020. Striped periods not adjusted by inflation.

1.3% 1.9% 3.5% 2.8% 1.8% 3.1% 5.7% 5.3% 1.8% 3.1% 4.4% 3.9%

2017 2018 2019 1Q20

NPL as % of Total Lending

BBVA System Private Banks 262% 119% 154% 186% 151% 121% 92% 95% 132% 106% 117% 126%

2017 2018 2019 1Q20

Allowances as a % of NPLs

BBVA System Private Banks

43 Corporate Presentation 1Q20 9.59% 10.85% 10.95%

1Q19 4Q19 1Q20 1Q19 4Q19 1Q20

Payroll Acquisition

+10%

MORE payroll customers INCREASING payroll share

+201 bps

Source: Ministerio de Trabajo de la República Argentina; SIPA, as of March 2020.

New clients, increasing payroll market share, sight deposits and cross-sell opportunities

In thousands

Appendix

05

45 Corporate Presentation 1Q20

ANSES ByMA* NYSE

6.93% 8.78% 17.74% 66.55% BBVA Group

Free Float 26.51%

Equity Ownership

SUBSIDIARIES AND EQUITY PARTICIPATIONS

*As of July 1st 2019 the Bank reports the activity of PSA and VWFS on a consolidated basis with BBVA Argentina, the same as it has been done with BBVA Asset Management Argentina S.A. **As of October 1st, 2019, the merger between BBVA Argentina S.A. and BBVA Francés Valores S.A. was put into effect (merger by absorption process) As of October 9th, 50.441 shares have been issued related to the merger by absorption with BBVA Francés Valores S.A., totaling 612,710,079 shares. As of the release of these consolidated financial statements, the increase in capital and the merger by absoprtion are pending registry approval by the I.G.J.

*Includes 0.07% in LATIBEX

BBVA Asset Management Argentina 100% BBVA Francés Valores** 97% PSA Finance* 50% Volkswagen Financial Services* 51% Rombo Compañía Financiera 40% BBVA Seguros 12.22%

612.7 million shares

46 Corporate Presentation 1Q20

Responsible Banking and Sustainability 2019

“In 2019, BBVA Argentina joined the UN Principles of Responsible Banking and signed the Sustainable Finance Protocol. Both initiatives seek to foster a sustainable banking system, fair and accountable towards the community, and are meant to help fulfill theSustainableDevelopmentGoals(SDGs)andtheParisAgreementonClimateChange.”

María Isabel Goiri Lartitegui Chairman BBVA

AR$12.2 million

INVESTED IN ENVIRONMENTAL MANAGEMENT

+AR$25 million

INVESTED IN SOCIAL PROGRAMS

OF OUR SELF-SERVICE TERMINALS SUPPORT ENVELOPE-FREE TRANSACTIONS

100%

BBVA ARGENTINA WAS THE FIRST PRIVATE BANK TO LAUNCH A NEW LINE OF PERSONAL LOANS CALLED “ECO-LOANS” FOR THE PURCHASE OF SUSTAINABLE GOODS THAT CONTRIBUTE TO CARE FOR THE ENVIRONMENT AND SUPPORT SDG 7.

The Best Team

6,223

employees

47% Women 53% Men

>BBVA Volunteers

Global Volunteering Week at BBVA +730 employees 325 activities to contribute to the SDG Solidarity Project Contest $650,000 in prizes 21 dreams 4,800 direct beneficiaries

Discrimination cases detected HIGHLIGHTS

OF THE GLOBAL ECO- EFFICIENCY PLAN

2019

decline in YoY paper consumption per capita

40%

decline in year-on-year water consumption per capita

36.6%

reduction of CO2 emissions per capita

11.9%

• f customers with product bundles

are enrolled in e-statements

87.7%

• f VISA customers are

enrolled in e-statements

82.5%

• f MasterCard customers are

enrolled in e-statements

92.9%

> The Bank strived to achieve the goal of eliminating plastic from its buildings

Figures correspond to Bank only.

47 Corporate Presentation 1Q20

BBVA Argentina Outstanding Corporate Bond Debt

Series Issue Date Nominal Amount (thousands AR$) Maturity Coupon Coupon Frequency Rating (Fix SCR) Class 24 12/27/2017 546,500 12/27/2020 Floating +4.25% (Badlar - Private Banks) Quarterly AAA (Arg) Class 25 11/8/2018 784,334 11/08/2020 Floating + 9.50% (UVA) Quarterly AAA(arg) Class 27 2/28/2019 1,090,000 08/28/2020 Floating +6.25% (Badlar - Private Banks) Quarterly AAA(arg)

BADLAR- Private Banks rate : interest rate for fixed term deposits over 1 million pesos with a maturity of 30-to-35 days. UVA rate: unit measure that is daily adjusted to the CER index, according to the consumer price index. JVs corporate bonds not included.

48 Corporate Presentation 1Q20

Dividends

*The distribution is subject to BCRA prior authorization, which has not been granted yet. According to Communication "A" 6939 and 7035, the distribution of financial institutions' results is suspended until December 31, 2020.

Year Net Income (millions AR$) Dividends (millions AR$) Total shares (millions) Dividends per share (AR$) Dividends per ADS (AR$) Payout Ratio Payment date 2019 31,352 2,500 612.7 4.08 12.24 8% To be confirmed* 2018 9,705 2,407 612.7 3.93 11.79 25% 05/16/2019 2017 3,878 970 612.7 1.58 4.75 25% 05/09/2018 2016 3,644 911 612.7 1.49 4.46 25% 08/10/2017 2015 3,785 900 536.9 1.68 5.03 24% 07/24/2016 2014 3,204 400 536.9 0.75 2.24 12% 03/18/2016 2013 2,024 29 536.9 0.05 0.16 1% 07/08/2014 2012 1,264

• 536.9

49 Corporate Presentation 1Q20

BBVA Argentina P&L Breakdown

Income Statement

In millions $

1Q20 4Q19 1Q19 QoQ YoY

Interest income 24,613 30,518 28,417 (19.4%) (13.4%) 23,286 Interest expense (8,171) (11,279) (13,373) 27.6% 38.9% (7,547) Net interest income 16,441 19,239 15,044 (14.5%) 9.3% 15,738 Fee income 5,401 5,768 5,896 (6.4%) (8.4%) 5,400 Fee expenses (3,525) (3,997) (3,594) 11.8% 1.9% (3,502) Net fee income 1,876 1,771 2,302 5.9% (18.5%) 1,898 Net income from financial instruments at fair value 1,000 2,371 3,753 (57.8%) (73.3%) 1,000 Net loss from write-down of assets at amortized cost and fair value through OCI (127) (13) (6) n.m n.m (127) Foreign exchange and gold gains 1,237 3,100 1,976 (60.1%) (37.4%) 1,240 Other operating income 1,039 1,202 5,268 (13.5%) (80.3%) 1,064 Loan loss allowances (1,623) (2,685) (1,618) 39.5% (0.4%) (1,596) Net operating income 19,843 24,985 26,719 (20.6%) (25.7%) 19,217 Personnel benefits (4,439) (4,653) (4,202) 4.6% (5.6%) (4,371) Administrative expenses (3,590) (4,260) (3,160) 15.7% (13.6%) (3,532) Depreciation and amortization (823) (1,972) (1,229) 58.3% 33.1% (818) Other operating expenses (3,112) (6,416) (4,509) 51.5% 31.0% (2,974) Operating income 7,880 7,685 13,617 2.5% (42.1%) 7,522 Income from associates and joint ventures 27 680 (76) (96.0%) 135.6% 59 Income from net monetary position (2,624) (3,038) (5,022) 13.6% 47.8% (2,380) Income before income tax 5,283 5,328 8,519 (0.8%) (38.0%) 5,201 Income tax (2,176) (1,439) (3,649) (51.2%) 40.4% (2,124) Income for the period 3,107 3,889 4,870 (20.1%) (36.2%) 3,078 Income for the period attributable to: 2,472 7,693 Owners of the parent 2,444 7,788 4,870 (68.6%) (49.8%) 3,079 Non-controlling interests 28 (95) (0) 129.9% n.m (1) Other comprehensive income 1,154 2,604 2,238 (55.7%) (48.4%) 1,154 (1) Excludes consolidation with PSA and VWFS.

BBVA ARG consolidated Chg (%) Proforma (1) 1Q20

50 Corporate Presentation 1Q20

BBVA Argentina Balance Sheet

Balance Sheet

In millions $

1Q20 4Q19 1Q19 QoQ YoY

Assets Cash and deposits in banks 146,518 168,447 154,277 (13,0%) (5,0%) 146,371 Cash 37,326 50,368 22,405 (25,9%) 66,6% 37,326 Financial institutions and correspondents 109,192 118,079 131,872 (7,5%) (17,2%)

• B.C.R.A

104,800 115,886 121,649 (9,6%) (13,9%) 104,670 Other local and foreign financial institutions 4,392 2,193 10,223 100,2% (57,0%) 4,375 Debt securities at fair value through profit or loss 9,059 4,452 3,041 103,5% 197,9% 9,059 Derivatives 2,155 3,285 1,217 (34,4%) 77,0% 2,155 Repo transactions 3,202

• 31,785

N/A (89,9%) 3,202 Other financial assets 18,539 5,055 16,693 266,8% 11,1% 18,323 Loans and other financing 218,539 210,523 274,976 3,8% (20,5%) 209,142 Non-financial public sector 1 1 17,8% (10,9%) 1 B.C.R.A 11 19 2 (39,9%) 400,6% 11 Other financial institutions 5,026 5,472 9,403 (8,1%) (46,5%) 8,320 Non-financial private sector and residents abroad 213,501 205,032 265,570 4,1% (19,6%) 200,810 Other debt securities 64,756 48,702 60,148 33,0% 7,7% 64,756 Financial assets pledged as collateral 6,815 6,385 7,831 6,7% (13,0%) 6,815 Current income tax assets

• 23

1 8,0% n.m

• Investments in equity instruments

1,812 2,216 2,809 (18,2%) (35,5%) 1,812 Investments in subsidiaries and associates 1,126 1,117 2,796 0,9% (59,7%) 2,871 Property and equipment 27,332 28,105 32,295 (2,8%) (15,4%) 27,301 Intangible assets 919 841 934 9,3% (1,6%) 918 Deferred income tax assets 7,416 6,371 116 29,3% n.m 7,060 Other non-financial assets 4,285 4,610 3,479 (7,6%) 22,5% 4,056 Non-current assets held for sale 179 179 179 4,7% (13,5%) 179 Total Assets 512,654 490,310 592,577 4,7% (13.5%) 504,019

BBVA ARG Consolidated

(1) Excludes consolidation with PSA and VWFS.

Chg (%) Proforma (1) 1Q20

51 Corporate Presentation 1Q20

BBVA Argentina Balance Sheet

Balance Sheet

In millions $

1Q20 4Q19 1Q19 QoQ YoY

Liabilities Deposits 327,960 316,918 413,481 3,5% (20,7%) 327,329 Non-financial public sector 3,473 3,167 2,473 9,7% 40,4% 3,473 Financial sector 287 192 341 49,2% (16,0%) 539 Non-financial private sector and residents abroad 324,200 313,558 410,666 3,4% (21,1%) 323,317 Liabilities at fair value through profit or loss

• 626

2,921 (100,0%) 100,0%)

• Derivatives

332 3,313 2,391 (90,0%) (86,1%) 332 Repo transactions

• N/A

N/A

• Other financial liabilities

42,830 31,073 43,478 37,8% (1,5%) 42,476 Financing received from the B.C.R.A. and other financial institutions 3,627 6,628 8,901 45,3%) (59,3%) 998 Corporate bonds issued 7,499 7,890 6,273 (5,0%) 19,5% 4,900 Current income tax liabilities 11,578 8,699 8,593 33,1% 34,7% 11,438 Provisions 11,274 11,586 6,264 (2,7%) 80,0% 11,211 Deferred income tax liabilities

• 3,382

N/A (100,0%)

• Other non-financial liabilities

18,780 18,427 17,499 1,9% 7,3% 18,260 Total Liabilities 423,879 405,160 513,184 4,6% (17,4%) 416,944 Equity Share Capital 613 613 613

• 0,0%

613 Non-capitalized contributions 20,894 20,894 20,883

• 0,1%

20,894 Capital adjustments 14,633 14,633 14,633

• 0,0%

14,633 Reserves 47,242 47,242 28,896

• 63,5%

47,242 Retained earnings 11,095 (17,844) 7,221 158,6% 44,9% 11,095 Other accumulated comprehensive income (10,187) (11,026) 2,228 7,6% n.m. (9,871) Income for the period 2,759 28,940 4,870 (88,0%) (30,3%) 2,444 Equity attributable to owners of the Parent 87,049 83,450 79,343 5,1% 9,7% 87,049 Equity attributable to non-controlling interests 1,726 1,700 50 1,6% n.m. 27 Total Equity 88,775 85,150 79,393 5,0% 11,8% 87,076 Total Liabilities and Equity 512,654 490,310 592,577 4,7% (13,5%) 504,019

BBVA ARG Consolidated

(1) Excludes consolidation with PSA and VWFS.

Chg (%) Proforma (1) 1Q20 *Includes $2.1 billion loss from first implementation of IFRS9 adjustment

*

Investor Relations Contact

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