Banco BBVA Argentina S.A. Q4 FY2025 earnings call

• After midterm legislative elections, financial variables normalized. BBVA Argentina secured a $150 million credit line from IFC. • Closed acquisition of 50% of FCA Compañía Financiera on Dec 10, 2025 with ARS 1 billion impact in P&L. • Achieved personnel and administrative expenses decrease in 2025: 11% and 12.6% respectively. • Focus on growing market share in private sector loans and deposits. • Work on multiple fronts for deposit growth including retail, SMEs, and wholesale deposits.

BBVA Argentina's inflation adjusted net income in 2025 was ARS 267.4 billion, decreasing 43.2% versus 2024. Accumulated ROE was 7.3% and accumulated ROA was 1.1%. Net income in 4Q 2025 was ARS 59.3 billion, increasing 44.5% quarter-over-quarter. Net interest income in 4Q 2025 was ARS 758.9 billion, increasing 20.2% quarter-over-quarter. Loan loss allowances increased 31.3% in 4Q 2025 and 181.2% accumulated year-over-year. Private sector loans as of 4Q 2025 totaled ARS 14.8 trillion, increasing 7.6% in real terms quarter-over-quarter and 47.6% year-over-year. BBVA Argentina's consolidated market share of private sector loans reached 11.91% as of 4Q 2025. NPL ratio on private loans was 4.18% as of Dec 2025. Total private deposits reached ARS 16.7 trillion, increasing 3.1% quarter-over-quarter and 29.7% year-over-year. Market share of private deposits was 10.04% as of 4Q 2025. Capital ratio reached 18.3% as of 4Q 2025.

• Expect to grow loans between 25% and 30% in real terms in 2026. • Confident of achieving low to mid-teens ROE in 2026. • Research department expects inflation around 22%, GDP growth 3%, FX around 1,700 in 2026. • Dollar loans expected to grow a little above peso loans, with dollar loans potentially reaching 25%-27% of the book. • Efficiency ratio expected to be around 46% in 2026.

• Credit cycle uncertainty with potential delay in credit quality stabilization. • Competition for funding could lead to spike in cost of funding. • Regulatory changes in dollar lending to non-dollar producing clients could impact lending strategy. • Central Bank reserve requirements could affect lending growth if not flexible enough.

Q: On asset quality and loan growth for 2026, A: Carmen Morillo said first quarter will be tough but credit indicators should go downwards, guidance to grow loans 25%-30% in real terms and maintain.

Q: On deposits strategy and cost of funding, A: Diego Cesarini said working on multiple fronts for deposit growth and need to manage to prevent cost of funding spike.

Q: On dividend for 2025, dividend payments, taxes, and inflation accounting, A: Carmen Morillo said not sure on dividend payment details yet, taxes around 35%, inflation accounting likely to end in 2028.

Q: On cost, personnel and administrative expenses in 2026, A: Carmen Arroyo said trend of improving expenses to continue with efficiency ratio around 46%.

Q: On dollar lending to non-dollar producing clients and net interest margin guidance, A: Diego Cesarini said comfortable with current dollar lending under regulation, no formal net interest margin guidance but expecting similar situation as 2025.

Q: On consumer recovery catalysts and regulatory side help, A: Carmen Arroyo said interest rates need to be stable and lower, Diego Cesarini said need flexibility from Central Bank on reserve requirements.

Q: On reserve requirements and wallets/fintechs, A: Diego Cesarini said reserve requirements can be complied with bonds but need flexibility, wallets/fintechs like Mercado Pago may get banking license so need competitive products.