BBVA Banco Frances SA (NYSE: BBAR) experienced a sharp 6.15% decline in its stock price during the after-hours session on Wednesday, following the release of the company's fourth quarter and full-year 2024 financial results.
The bank reported a significant decrease in its net income for the fourth quarter of 2024, with a 39.6% drop compared to the previous quarter and a 38.9% decline compared to the same period in 2023. This disappointing performance was driven by a substantial reduction in operating income, which fell by 48.1% quarter-over-quarter and 84.2% year-over-year.
Furthermore, BBVA Argentina's efficiency ratio deteriorated in the fourth quarter, indicating higher expenses relative to revenue. Although the bank experienced positive loan and deposit growth, the non-performing loan ratio increased to 1.13%, potentially raising concerns about asset quality.
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