This was a consequence of the financial margin and the extraordinary effect of the sale of the remaining 49% of the bank’s stake in Prisma Medios de Pago, registered in the first quarter of 2022.
Between January and September, net operating income totaled $232,954 million, representing a growth of 13% in real terms compared to the accumulated results for the same month of 2021, including the effect of the sale of the interest in Prisma.
For its part, the NPL ratio presented an improvement of 246 basis points, standing at 1.8% compared to 4.2% in September 2021.
With a portfolio of Ch$786,628 million in loans to the non-financial private sector, Santander reached a market share of 10.4%.
While, the balance of private sector deposits amounts to $1.616 trillion, placing the bank as the first private entity in terms of volume of deposits to the private sector in Argentina, with a market share of 10.4%.
On his side, he Galician Financial Group achieved a net result of $11,198 million in the quarter, which represented, on an annualized basis, a return on average assets of 1.65% and on average net worth of 9.01%.
This result is mainly composed of for the gain from the participation in Banco Galicia, of $9,478 million; Fima Funds, $1,409 million; Orange X, $934 million; and Galicia Seguros, $452 million.
In the third quarter, Banco Galicia registered a net result of $9,478 million, which was $3,088 million (25%) lower than that of the same quarter of the previous year.
Financing to the private sector reached $901,937 million, registering a decrease of 4% compared to the same period of the previous year.
This decrease is mainly due to a decrease in loans in pesos for $18,540 million (3%) and UVA loans for $13,119 million (21%).
The market share of total loans to the private sector reached 11.52%, which represents an increase of 25 basis points compared to the third quarter of 2021.
Meanwhile, the bank BBVA obtained a net result adjusted for inflation of $9,663 million in the quarter, which was 55.9% higher than the profit of $6,200 million in the same period of the previous yearbut 50.1% less than the $19,381 million in the second quarter of 2022.
Thus, in the first nine months of the year, the accumulated net result was $34,814 million, 27.9% higher than the accumulated result between January and September 2021, which was $27,227 million.
In terms of activity, total financing to the private sector consolidated in the third quarter totaled $582,386 million, falling 6.4% compared to 2021 in real terms.
The quarterly variation is mainly explained by a drop in credit cards, other loans, pre-financing and export financing, and personal loans of 8.8%, 18.2%, 22.4%, and 5.7%, respectively.
BBVA’s consolidated market share reached 8.47%, while total consolidated deposits totaled $1.063 trillion, falling 7.9% compared to 2021 in real terms. Thus, the consolidated market share of BBVA’s private deposits reached 6.68%.
Source: Ambito
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