Banco BBVA Argentina S.A.

High-ROA private bank with leading Argentine market share, but severe country/macro risk and a real-terms profit decline cap the grade.

Strengths

• Exceptional ROA (2.48%, 97th) and solid ROE (13.9%, ~68th), fully tangible book and gaining loan/deposit market share
• Second-largest private bank in Argentina with a strong deposit franchise and BBVA parent backing

Risks

• Acute Argentina macro risk — high inflation (IAS 29 reporting), peso devaluation, exchange controls and an unstable regulatory framework; net profit fell in real (peso) terms
• Short-term deposit base, sovereign-linked credit ratings and public-sector exposure

Notable findings

• No interest coverageInterest coverage 0.25 (cannot cover interest)
• Material weakness• Legal, Regulatory and Compliance Risks: • material weaknesses in our internal control over financial reporting; • our operations are conducted in a highly regulated environment; • the instabil
• Strong balance sheetStrong balance sheet — $2.0B cash & investments