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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bbva Banco Frances S.A. | NYSE:BFR | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.06 | 0.00 | 01:00:00 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February 2015
Commission File Number: 001-12568
BBVA French Bank S.A.
(Translation of registrants name into English)
Reconquista 199, 1006
Buenos Aires, Argentina
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes ¨ No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
BBVA Banco Francés S.A.
TABLE OF CONTENTS
Item |
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1. | Press release entitled BBVA Francés reports consolidated fourth quarter earnings for fiscal year 2014. |
Buenos Aires, February 10, 2015 - BBVA Francés (NYSE: BFR.N; BCBA: FRA.BA;
LATIBEX: BFR.LA) reports consolidated fourth quarter earnings for fiscal year 2014.
Annual Highlights
| BBVA Francés net income reached AR$ 3,204.5 million as of December 31, 2014, achieving a return on equity (ROE) of 36.6% and a return on assets (ROA) of 4.9%. |
| In terms of activity, the private sector loan portfolio totaled AR$ 41.4 billion at the end of 2014, an increase of 13.6% in the last twelve months. The Bank maintained its market share at 6.5%. Such increase was driven mainly by growth in consumer loans, which increased 25.2% in the last year, in line with the Banks strategy positioning itself as one of the most important players in this segment. |
| In 2012, the Central Bank of Argentina (BCRA) established that certain financial institutions should allocate a minimum portion of total deposits to finance investment projects. Such requirement has been renewed every six months since then. BBVA Francés has successfully complied with each renewal quota. In December, 2014, the BCRA extended this requirement to 2015 and increased the percentage to 6.5% of deposits, with a fixed interest rate of 19%, exclusively for micro-businesses and small and medium-sized companies. |
| The quality of its asset portfolio continues to be one of the pillars of BBVA Francés strategy. The Bank has been able to maintain good ratios, despite some evidence of deterioration of the environment. The non-performing loan ratio reached 0.99% as of December 31, 2014, with a coverage ratio of 244.2% |
| Total deposits reached AR$ 51.4 billion; growing 17.5% in the last twelve months. During the same period, current accounts registered a good performance, growing 26.8%, while time deposits also increased but at a lower rate of 5.5%. Transactional deposits represent 59% of the Banks total deposits. |
| During 2014, BBVA Francés placed six issuances of Negotiable Obligations under its Global Bond Program (USD 750 million). Series 8 and 9 in February, for a total amount of AR$ 404 million, Series 10 and 11 in July for AR$ 399.7 million and Series 12 and 13 in November for AR$ 237.8 million. All of these bonds bear an interest rate equal to the Badlar rate plus a margin, for a period of 18 to 36 months. |
| BBVA Francés, once again, maintained high levels of liquidity and solvency. As of December 31, 2014 total shareholders equity reached AR$ 10.3 billion, while the excess of capital over the BCRA minimum regulatory requirements, reached AR$ 5.2 billion, or 49.9% of the Banks total stockholders equity. The capital ratio reached 16.3% of weighted risk assets. |
| As of December 31, 2014, liquid assets (Cash and due from banks plus BCRA bills and notes) represented 41.2% of the Banks total deposits. |
| On December 23, 2014, the BCRA issued Communication A 5685, which determined that all increases or re-pricing of fees charged by financial entities must have prior authorization from the BCRA. Previously, the regulation was applied only to those financial products or services considered as basic. Authorized fee increases that are lower than costs incurred by the Bank to support its business structure could adversely affect the financial results in future periods. |
Condensed Income Statement (1) | ||||||||||||
in thousands of pesos except income per share, income per ADS and percentages |
FY 2014 | FY 2013 | % Change | |||||||||
Net Financial Income |
7.608.730 | 4.978.427 | 52,8 | % | ||||||||
Provision for loan losses |
(574.663 | ) | (453.264 | ) | 26,8 | % | ||||||
Net income from services |
3.349.448 | 2.498.521 | 34,1 | % | ||||||||
Administrative expenses |
(5.594.157 | ) | (3.881.972 | ) | 44,1 | % | ||||||
Operating income |
4.789.358 | 3.141.712 | 52,4 | % | ||||||||
Income (loss) from equity investments |
189.623 | 95.985 | 97,6 | % | ||||||||
Income (Loss) from Minority interest |
(106.813 | ) | (55.013 | ) | 94,2 | % | ||||||
Other Income/Expenses |
2.306 | (38.022 | ) | -106,1 | % | |||||||
Income tax |
(1.669.978 | ) | (1.120.418 | ) | 49,0 | % | ||||||
Net income for the period |
3.204.496 | 2.024.244 | 58,3 | % | ||||||||
Net income per share (2) |
6,0 | 3,8 | 58,3 | % | ||||||||
Net income per ADS (3) |
17,9 | 11,3 | 58,3 | % |
(1) | Exchange rate: AR$ 8,5520 Ps = 1USD |
(2) | Assumes 536,877,850 ordinary shares |
(3) | Each ADS represents three ordinary shares |
Income Statement PROFORMA | ||||||||||||
in thousands of pesos |
Recurring Income | Non recurring Income |
Total Income | |||||||||
Net Financial Income |
7,563,837 | 44,893 | 7,608,730 | |||||||||
Provision for loan losses |
(574,663 | ) | | (574,663 | ) | |||||||
Net income from services |
3,349,448 | | 3,349,448 | |||||||||
Administrative expenses |
(5,594,157 | ) | | (5,594,157 | ) | |||||||
Operating income |
4,744,465 | 44,893 | 4,789,358 | |||||||||
Income (loss) from equity investments |
189,623 | | 189,623 | |||||||||
Income (Loss) from Minority interest |
(106,813 | ) | | (106,813 | ) | |||||||
Other Income/Expenses |
2,306 | | 2,306 | |||||||||
Income tax and Minimum Presumed Tax |
(1,624,720 | ) | (45,258 | ) | (1,669,978 | ) | ||||||
Net income for the period |
3,204,861 | (365 | ) | 3,204,496 |
- 2 -
Condensed Income Statement (1) | ||||||||||||
in thousands of pesos except income per share, income per ADS and percentages |
FY 2014 | FY 2012 | % Change | |||||||||
Net Financial Income |
7,563,837 | 5,064,564 | 49.3 | % | ||||||||
Provision for loan losses |
(574,663 | ) | (453,264 | ) | 26.8 | % | ||||||
Net income from services |
3,349,448 | 2,498,521 | 34.1 | % | ||||||||
Administrative expenses |
(5,594,157 | ) | (3,881,972 | ) | 44.1 | % | ||||||
Operating income |
4,744,465 | 3,227,849 | 47.0 | % | ||||||||
Income (loss) from equity investments |
189,623 | 95,985 | 97.6 | % | ||||||||
Income (Loss) from Minority interest |
(106,813 | ) | (55,013 | ) | 94.2 | % | ||||||
Other Income/Expenses |
2,306 | (38,022 | ) | -106.1 | % | |||||||
Income tax |
(1,624,720 | ) | (1,056,730 | ) | 53.7 | % | ||||||
Net income for the period |
3,204,861 | 2,174,069 | 47.4 | % | ||||||||
Net income per share (2) |
6.0 | 4.0 | 47.4 | % | ||||||||
Net income per ADS (3) |
17.9 | 12.1 | 47.4 | % |
(1) | Exchange rate: 8.5520 Ps. = 1US$ |
(2) | Assumes 536,877,850 average ordinary shares |
(3) | Each ADS represents three ordinary shares. |
Other Events
| On December 30, 2014, the Bank approved the issuance of Series 14 and 15 of its negotiable obligations (bonds) for a total amount of AR$ 500 million. The subscription period started on February 4, 2015 and the issuance date will be February 13, 2015. |
| On January 8, 2015, the BCRA established through its Communication A 5689 that financial entities must provision 100% of any administrative, disciplinary and criminal penalties implemented or initiated against them. They must also disclose in a note in their financial statements, any proceedings initiated by the BCRA from its inception, independent of the significance of the amounts involved or whether such amounts have been appropriately quantified. |
| Subsequently, Communication A 5693 was issued, which set aside the rule on Liquidity position, replacing it by new regulation on Liquidity coverage ratio, under which financial entities must have funds of high quality assets, free of restrictions in case of potential stress scenarios. BBVA Francés has internalized this metric and given the quality of its assets and its liquidity management, it far exceeds the Basel requirements. |
| The BCRA determined in January 2015, that BBVA Francés is considered for all purposes as a domestic systemically important bank (D-SIBs). |
| In this line, Communication A 5694 was issued, establishing a new capital requirement of 1% of risk-weighted assets, for entities considered as systemically important banks, to be implemented gradually from 2016 to 2019. However, it is immediately effective for purposes of income distribution. |
| Based on the results of the 2014 fiscal year, the Board of Directors has resolved to propose a cash dividend payment in the amount of AR$ 400 million at the annual Shareholders meeting. Such payment is subject to applicable regulatory and transaction authorizations. |
Quarterly Highlights
| BBVA Francés reached net income of AR$ 814.4 million in the fourth quarter of 2014, similar to the same quarter of 2013 and 29.5% above the results of the third quarter of 2014. |
- 3 -
| Net financial income grew 23.9% in the four quarter of 2014, compared to the same quarter of 2013 and 13% compared to the previous quarter, mainly due to the increase in the intermediation with private sector and to the gains resulting from the public bonds portfolio. |
| The private sector loan portfolio reached AR$ 41.4 billion, maintaining a similar level to that of the previous quarter. Consumer loans grew 11.4%, whereas financing to small and medium-sized companies did not register a significant variation during the period. Loans to corporations declined by 18.2% during the same period. |
| The Banks total deposits reached AR$ 51.4 million by the end of the year, increasing 3.4% during the last quarter of 2014. Sight deposits grew 4.2% during the same period, while time deposits grew by 1.8%. |
- 4 -
- 5 -
Financial Information
Condensed Income Statement (1) | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except income per share, ADS and percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Net Financial Income |
1,977,228 | 1,749,510 | 1,595,988 | 13.0 | % | 23.9 | % | |||||||||||||
Provision for loan losses |
(152,323 | ) | (151,867 | ) | (141,743 | ) | 0.3 | % | 7.5 | % | ||||||||||
Net income from services |
918,875 | 887,922 | 667,451 | 3.5 | % | 37.7 | % | |||||||||||||
Administrative expenses |
(1,478,751 | ) | (1,582,636 | ) | (993,270 | ) | -6.6 | % | 48.9 | % | ||||||||||
Operating income |
1,265,029 | 902,929 | 1,128,426 | 40.1 | % | 12.1 | % | |||||||||||||
Income (Loss) from equity investments |
32,560 | 85,365 | 17,841 | -61.9 | % | 82.5 | % | |||||||||||||
Income (Loss) from Minority interest |
(30,130 | ) | (28,677 | ) | (15,261 | ) | 5.1 | % | 97.4 | % | ||||||||||
Other Income/Expenses |
(32,123 | ) | 14,453 | 5,859 | -322.3 | % | -648.3 | % | ||||||||||||
Income tax and Minimum Presumed Tax |
(420,979 | ) | (345,100 | ) | (272,934 | ) | 22.0 | % | 54.2 | % | ||||||||||
Net income for the period |
814,357 | 628,970 | 863,931 | 29.5 | % | -5.7 | % | |||||||||||||
Net income per share (2) |
1.52 | 1.17 | 1.61 | 29.5 | % | -5.7 | % | |||||||||||||
Net income per ADS (3) |
4.55 | 3.51 | 4.83 | 29.5 | % | -5.7 | % |
(1) | Exchange rate: AR$ 8,5520 Ps = 1USD |
(2) | Assumes 536,877,850 ordinary shares |
(3) | Each ADS represents three ordinary shares |
- 6 -
Condensed Income Statement PROFORMA 12-31-14 | ||||||||||||
in thousands of pesos |
Recurring results | Non recurring Income |
Total results | |||||||||
Net Financial Income |
1,975,578 | 1,650 | 1,977,228 | |||||||||
Provision for loan losses |
(152,323 | ) | | (152,323 | ) | |||||||
Net income from services |
918,875 | | 918,875 | |||||||||
Administrative expenses |
(1,478,751 | ) | | (1,478,751 | ) | |||||||
Operating income |
1,263,379 | 1,650 | 1,265,029 | |||||||||
Income (loss) from equity investments |
32,560 | | 32,560 | |||||||||
Income (Loss) from Minority interest |
(30,130 | ) | | (30,130 | ) | |||||||
Other Income/Expenses |
(32,123 | ) | | (32,123 | ) | |||||||
Income tax and Minimum Presumed Tax |
(429,436 | ) | (8,457 | ) | (420,979 | ) | ||||||
Net income for the period |
804,250 | (6,807 | ) | 814,357 |
D% quarter ended 12-31-14 | ||||||||||||||||||||
Condensed Income Statement PROFORMA | Quarter ended | vs quarter ended | ||||||||||||||||||
in thousands of pesos |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Net Financial Income |
1,975,578 | 1,802,983 | 1,662,202 | 9.6 | % | 18.9 | % | |||||||||||||
Provision for loan losses |
(152,323 | ) | (151,867 | ) | (141,743 | ) | 0.3 | % | 7.5 | % | ||||||||||
Net income from services |
918,875 | 887,922 | 667,451 | 3.5 | % | 37.7 | % | |||||||||||||
Administrative expenses |
(1,478,751 | ) | (1,582,636 | ) | (993,270 | ) | -6.6 | % | 48.9 | % | ||||||||||
Operating income |
1,263,379 | 956,402 | 1,194,640 | 32.1 | % | 5.8 | % | |||||||||||||
Income (Loss) from equity investments |
32,560 | 85,365 | 17,841 | -61.9 | % | 82.5 | % | |||||||||||||
Income (Loss) from Minority interest |
(30,130 | ) | (28,677 | ) | (15,261 | ) | 5.1 | % | 97.4 | % | ||||||||||
Other Income/Expenses |
(32,123 | ) | 14,453 | 5,859 | -322.3 | % | -648.3 | % | ||||||||||||
Income tax and Minimum Presumed Tax |
(429,436 | ) | (346,973 | ) | (284,115 | ) | 23.8 | % | 51.1 | % | ||||||||||
Net income for the period |
804,250 | 680,570 | 918,964 | 18.2 | % | -12.5 | % |
- 7 -
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Main figures | Quarter ended | quarter ended | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Return on Average Assets (1) |
4.4 | % | 3.5 | % | 6.1 | % | 24.3 | % | -28.4 | % | ||||||||||
Return on Average Shareholders Equity |
32.8 | % | 27.3 | % | 51.4 | % | 20.1 | % | -36.1 | % | ||||||||||
Net fee Income as a % of Recurrent Operating Income |
31.7 | % | 33.0 | % | 28.7 | % | -3.8 | % | 10.8 | % | ||||||||||
Net fee Income as a % of Administrative Expenses |
62.1 | % | 56.1 | % | 67.2 | % | 10.8 | % | -7.5 | % | ||||||||||
Adm. Expenses as a % of Recurrent Operating Income (2) |
51.1 | % | 58.8 | % | 42.6 | % | -13.1 | % | 19.8 | % |
(1) | Annualized. |
(2) | Adm. Expenses / (Net financial income + Net income from services) |
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Net financial income | Quarter ended | quarter ended | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Net financial income |
1,977,228 | 1,749,510 | 1,595,988 | 13.0 | % | 23.9 | % | |||||||||||||
Net income from financial intermediation |
1,242,723 | 1,100,566 | 890,319 | 12.9 | % | 39.6 | % | |||||||||||||
CER adjustment |
54,919 | 59,037 | 33,168 | -7.0 | % | 65.6 | % | |||||||||||||
Income from securities and short term investments |
520,786 | 430,292 | 29,253 | 21.0 | % | n/a | ||||||||||||||
Interest on Government guaranteed loans |
3,727 | 3,739 | 2,287 | -0.3 | % | 63.0 | % | |||||||||||||
Foreign exchange difference |
95,913 | 109,718 | 316,975 | -12.6 | % | -69.7 | % | |||||||||||||
Others |
59,160 | 46,158 | 323,986 | 28.2 | % | -81.7 | % |
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Income from securities and short-term investments | Quarter ended | quarter ended | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Income from securities and short-term investments |
520,786 | 430,292 | 29,253 | 21.0 | % | n/a | ||||||||||||||
Holdings booked at fair value |
91,695 | 15,418 | (39,529 | ) | 494.7 | % | n/a | |||||||||||||
Bills and Notes from the Central Bank |
423,760 | 409,772 | 73,197 | 3.4 | % | 478.9 | % | |||||||||||||
Other fixed income securities |
5,331 | 5,102 | (4,415 | ) | 4.5 | % | n/a | |||||||||||||
CER adjustment |
54,932 | 59,060 | 33,193 | -7.0 | % | 65.5 | % |
- 8 -
Net income from services | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30 -14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Net income from services |
918,875 | 887,922 | 667,451 | 3.5 | % | 37.7 | % | |||||||||||||
Service charge income |
1,323,476 | 1,201,798 | 940,046 | 10.1 | % | 40.8 | % | |||||||||||||
Service charges on deposits accounts |
251,511 | 241,341 | 187,753 | 4.2 | % | 34.0 | % | |||||||||||||
Credit cards and operations |
562,421 | 466,375 | 380,759 | 20.6 | % | 47.7 | % | |||||||||||||
Insurance |
135,610 | 130,791 | 99,528 | 3.7 | % | 36.3 | % | |||||||||||||
Capital markets and securities activities |
9,592 | 12,633 | 5,062 | -24.1 | % | 89.5 | % | |||||||||||||
Fees related to foreign trade |
35,551 | 36,407 | 26,723 | -2.3 | % | 33.0 | % | |||||||||||||
Other fees |
328,792 | 314,252 | 240,220 | 4.6 | % | 36.9 | % | |||||||||||||
Services Charge expense |
(404,600 | ) | (313,877 | ) | (272,595 | ) | 28.9 | % | 48.4 | % |
- 9 -
Administrative expenses | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30 -14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Administrative expenses |
(1,478,751 | ) | (1,582,636 | ) | (993,270 | ) | -6.6 | % | 48.9 | % | ||||||||||
Personnel expenses |
(812,890 | ) | (971,291 | ) | (564,864 | ) | -16.3 | % | 43.9 | % | ||||||||||
Electricity and Communications |
(26,424 | ) | (25,417 | ) | (18,061 | ) | 4.0 | % | 46.3 | % | ||||||||||
Advertising and Promotion |
(68,349 | ) | (61,708 | ) | (36,055 | ) | 10.8 | % | 89.6 | % | ||||||||||
Fees and external administrative services |
(23,625 | ) | (14,845 | ) | (18,570 | ) | 59.1 | % | 27.2 | % | ||||||||||
Taxes |
(139,787 | ) | (126,591 | ) | (87,550 | ) | 10.4 | % | 59.7 | % | ||||||||||
Organization and development expenses |
(15,444 | ) | (15,369 | ) | (13,175 | ) | 0.5 | % | 17.2 | % | ||||||||||
Amortizations |
(41,616 | ) | (35,161 | ) | (27,879 | ) | 18.4 | % | 49.3 | % | ||||||||||
Other |
(350,616 | ) | (332,254 | ) | (227,116 | ) | 5.5 | % | 54.4 | % |
Balance and activity
Exposure to the Public Sector | Quarter ended | D% quarter ended 12-31-14 vs | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Public Sector - National Government |
3,099,243 | 2,695,885 | 2,243,504 | 15.0 | % | 38.1 | % | |||||||||||||
Public Sector Loans |
54,459 | 51,945 | 40,915 | 4.8 | % | 33.1 | % | |||||||||||||
Total bond portfolio |
2,809,999 | 2,509,642 | 2,022,878 | 12.0 | % | 38.9 | % | |||||||||||||
Holdings book at fair value |
2,706,879 | 2,428,434 | 1,976,935 | 11.5 | % | 36.9 | % | |||||||||||||
Holdings book at amortized cost |
164 | 164 | 164 | 0.0 | % | 0.0 | % | |||||||||||||
Unlisted |
102,956 | 81,044 | 45,779 | 27.0 | % | 124.9 | % | |||||||||||||
Trustees |
| | 174,804 | n/a | -100.0 | % | ||||||||||||||
Allowances |
(201 | ) | (204 | ) | (196 | ) | -1.5 | % | 2.6 | % | ||||||||||
Reverse repo |
234,986 | 134,502 | 5,103 | 74.7 | % | 4504.9 | % | |||||||||||||
Public Sector - National Government own portfolio |
2,864,257 | 2,561,383 | 2,238,401 | 11.8 | % | 28.0 | % | |||||||||||||
Bills and Notes from Central Bank |
8,630,056 | 7,031,106 | 1,408,487 | 22.7 | % | 512.7 | % | |||||||||||||
Own portfolio |
7,953,062 | 5,270,496 | 1,233,210 | 50.9 | % | 544.9 | % | |||||||||||||
Reverse repo w/ Central Bank |
(676,994 | ) | (1,760,610 | ) | (175,277 | ) | -61.5 | % | 286.2 | % | ||||||||||
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Total exposure to the Public Sector |
11,729,299 | 9,726,991 | 3,651,991 | 20.6 | % | 221.2 | % | |||||||||||||
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Total exposure to the Public Sector without repos |
10,817,318 | 7,831,879 | 3,471,611 | 38.1 | % | 211.6 | % | |||||||||||||
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- 10 -
Net loans | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12 31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Private & Financial sector loans |
41,388,381 | 40,512,571 | 36,427,279 | 2.2 | % | 13.6 | % | |||||||||||||
Advances |
6,861,786 | 7,311,296 | 6,552,258 | -6.1 | % | 4.7 | % | |||||||||||||
Discounted and purchased notes |
6,035,048 | 6,303,691 | 5,476,961 | -4.3 | % | 10.2 | % | |||||||||||||
Consumer Mortgages |
1,466,346 | 1,387,004 | 1,243,900 | 5.7 | % | 17.9 | % | |||||||||||||
Car secured loans |
3,695,487 | 3,641,853 | 3,479,820 | 1.5 | % | 6.2 | % | |||||||||||||
Personal loans |
6,091,937 | 5,977,116 | 5,998,744 | 1.9 | % | 1.6 | % | |||||||||||||
Credit cards |
11,465,609 | 9,383,445 | 7,429,187 | 22.2 | % | 54.3 | % | |||||||||||||
Loans to financial sector |
910,437 | 952,622 | 1,641,846 | -4.4 | % | -44.5 | % | |||||||||||||
Other loans |
5,025,304 | 5,708,632 | 4,647,736 | -12.0 | % | 8.1 | % | |||||||||||||
Unaccrued interest |
(133,912 | ) | (131,173 | ) | (132,213 | ) | 2.1 | % | 1.3 | % | ||||||||||
Adjustment and accrued interest & exchange difference |
908,133 | 854,708 | 811,502 | 6.3 | % | 11.9 | % | |||||||||||||
Less: Allowance for loan losses |
(937,794 | ) | (876,623 | ) | (722,462 | ) | 7.0 | % | 29.8 | % | ||||||||||
Loans to public sector |
54,459 | 51,945 | 40,915 | 4.8 | % | 33.1 | % | |||||||||||||
Loans to public sector |
8,756 | 9,184 | 8,770 | -4.7 | % | -0.2 | % | |||||||||||||
Adjustment and accrued interest & exchange difference |
45,703 | 42,761 | 32,145 | 6.9 | % | 42.2 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net total loans |
41,442,840 | 40,564,516 | 36,468,194 | 2.2 | % | 13.6 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
- 11 -
Asset quality ratios | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Non-performing loans (1) |
418,283 | 388,080 | 284,254 | 7.8 | % | 47.2 | % | |||||||||||||
Allowance for loan losses |
(937,794 | ) | (876,623 | ) | (722,462 | ) | 7.0 | % | 29.8 | % | ||||||||||
Non-performing loans/net total loans |
0.99 | % | 0.94 | % | 0.76 | % | 5.4 | % | 29.1 | % | ||||||||||
Non-performing private loans/net private loans |
0.99 | % | 0.94 | % | 0.77 | % | 5.4 | % | 29.2 | % | ||||||||||
Allowance for loan losses/non-performing loans |
224.20 | % | 225.89 | % | 254.16 | % | -0.7 | % | -11.8 | % | ||||||||||
Allowance for loan losses/net total loans |
2.21 | % | 2.12 | % | 1.94 | % | 4.6 | % | 13.9 | % |
(1) | Non-performing loans include: all loans to borrowers classified as Problem, Deficient Servicing, High Insolvency Risk, Difficult Recovery, Irrecoverable and Irrecoverable for Technical Decision according to the new Central Bank debtor classification system. |
Evolution of provisions | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12 3114 | 09 30 14 | 12 3113 | 09 30 14 | 12 3113 | |||||||||||||||
Balance at the beginning of the quarter |
882,212 | 828,912 | 660,287 | 6.4 | % | 33.6 | % | |||||||||||||
Increase / decrease |
152,323 | 151,867 | 141,743 | 0.3 | % | 7.5 | % | |||||||||||||
Provision increase / decrease - Exchange rate difference |
329 | 1,173 | 2,962 | -72.0 | % | 88.9 | % | |||||||||||||
Decrease |
(91,803 | ) | (99,740 | ) | (77,486 | ) | -8.0 | % | 18.5 | % | ||||||||||
Balance at the end of the quarter |
943,061 | 882,212 | 727,506 | 6.9 | % | 29.6 | % |
- 12 -
Total deposits | Quarter ended |
D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Total deposits |
51,440,933 | 49,734,513 | 43,777,815 | 3.4 | % | 17.5 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Current accounts |
15,360,083 | 16,514,883 | 12,040,888 | -7.0 | % | 27.6 | % | |||||||||||||
Peso denominated |
15,023,449 | 15,921,325 | 11,209,849 | -5.6 | % | 34.0 | % | |||||||||||||
Foreign currency |
336,634 | 593,558 | 831,039 | -43.3 | % | -59.5 | % | |||||||||||||
Saving accounts |
14,996,005 | 12,624,715 | 11,902,663 | 18.8 | % | 26.0 | % | |||||||||||||
Peso denominated |
11,639,748 | 9,835,098 | 9,424,224 | 18.3 | % | 23.5 | % | |||||||||||||
Foreign currency |
3,356,257 | 2,789,617 | 2,478,439 | 20.3 | % | 35.4 | % | |||||||||||||
Time deposits |
19,950,392 | 19,607,251 | 18,914,838 | 1.8 | % | 5.5 | % | |||||||||||||
Peso denominated |
18,363,312 | 18,114,087 | 17,669,881 | 1.4 | % | 3.9 | % | |||||||||||||
CER adjusted time deposits |
303 | 410 | 904 | -26.1 | % | -66.5 | % | |||||||||||||
Foreign currency |
1,586,777 | 1,492,754 | 1,244,053 | 6.3 | % | 27.5 | % | |||||||||||||
Investment Accounts |
483 | 677 | 4,027 | -28.7 | % | -88.0 | % | |||||||||||||
Peso denominated |
483 | 677 | 4,027 | -28.7 | % | -88.0 | % | |||||||||||||
Other |
1,133,970 | 986,987 | 915,399 | 14.9 | % | 23.9 | % | |||||||||||||
Peso denominated |
925,521 | 757,089 | 748,042 | 22.2 | % | 23.7 | % | |||||||||||||
Foreign currency |
208,449 | 229,898 | 167,357 | -9.3 | % | 24.6 | % | |||||||||||||
Rescheduled deposits + CEDROS |
2,234 | 2,234 | 5,885 | 0.0 | % | -62.0 | % | |||||||||||||
Peso denominated |
2,234 | 2,234 | 5,885 | 0.0 | % | -62.0 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total deposits + Rescheduled deposits & CEDROS |
51,443,167 | 49,736,747 | 43,783,700 | 3.4 | % | 17.5 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
(*) | In August 2005, the payments of rescheduled deposits were finalized, only those deposits that have a pending court case remain outstanding. |
Other funding sources | Quarter ended | D% quarter ended 12-31-14 vs quarter ended |
||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Lines from other banks |
553,320 | 779,068 | 579,911 | -29.0 | % | -4.6 | % | |||||||||||||
Senior Bonds |
1,941,148 | 1,834,664 | 1,235,599 | 5.8 | % | 57.1 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total other funding sources |
2,494,468 | 2,613,732 | 1,815,510 | -4.6 | % | 37.4 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
- 13 -
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Capitalization | Quarter ended | quarter ended | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Capital Stock |
536,878 | 536,878 | 536,878 | 0.0 | % | 0.0 | % | |||||||||||||
Issuance premiums |
182,511 | 182,511 | 182,511 | 0.0 | % | 0.0 | % | |||||||||||||
Adjustments to stockholders equity |
312,979 | 312,979 | 312,979 | 0.0 | % | 0.0 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Subtotal |
1,032,368 | 1,032,368 | 1,032,368 | 0.0 | % | 0.0 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Reserves on Profits |
6,095,012 | 6,095,012 | 4,099,568 | 0.0 | % | 48.7 | % | |||||||||||||
Unappropriated retained earnings |
3,204,496 | 2,390,139 | 2,024,244 | 34.1 | % | 58.3 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total stockholders equity |
10,331,876 | 9,517,519 | 7,156,180 | 8.6 | % | 44 .4 | % | |||||||||||||
|
|
|
|
|
|
|
|
|
|
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Central Bank Requirements | Quarter ended | quarter ended | ||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Central Bank Minimum Capital Requirements |
5,252,947 | 4,931,604 | 4,269,971 | 6.5 | % | 23.0 | % | |||||||||||||
Central Bank Minimum Capital Requirements (a, b) |
5,099,412 | 4,759,958 | 3,964,903 | 7.1 | % | 28.6 | % | |||||||||||||
Increase in capital requirements related to custody |
153,535 | 171,646 | 305,068 | -10.6 | % | -49.7 | % | |||||||||||||
a) Central Bank Minimum Capital Requirements |
5,099,412 | 4,759,958 | 3,964,904 | 7.1 | % | 28.6 | % | |||||||||||||
Allocated to Asset at Risk |
3,698,747 | 3,499,558 | 3,014,005 | 5.7 | % | 22.7 | % | |||||||||||||
DCR (derivative conterparter risk) |
22,369 | 11,942 | 7,377 | 87.3 | % | 203.2 | % | |||||||||||||
Market Risk |
144,086 | 109,918 | 84,243 | 31.1 | % | 71.0 | % | |||||||||||||
Operational Risk |
1,234,210 | 1,138,540 | 859,279 | 8.4 | % | 43.6 | % | |||||||||||||
b) Minimum capital required for the Guarantee Fund for the Sustainability of the Pas-as-you-go System maneged by the Argentine Republic and registrar of mortgage notes |
614,141 | 686,586 | 1,220,271 | -10.6 | % | -49.7 | % | |||||||||||||
5% of the securities in custody and book-entry notes |
614,141 | 686,586 | 1,220,271 | -10.6 | % | -49.7 | % | |||||||||||||
Bank Capital Calculated under Central Bank Rules |
10,406,607 | 9,656,270 | 7,080,154 | 7.8 | % | 47.0 | % | |||||||||||||
Ordinary Capital Level 1 |
10,001,585 | 9,283,586 | 6,786,792 | 7.7 | % | 47.4 | % | |||||||||||||
Dedusctions Ordinary Capital Level 1 |
(156,074 | ) | (158,196 | ) | (128,463 | ) | -1.3 | % | 21.5 | % | ||||||||||
Capital Level 2 |
561,096 | 530,880 | 421,825 | 5.7 | % | 33.0 | % | |||||||||||||
Excess over Required Capital |
5,153,660 | 4,724,666 | 2,810,183 | 9.1 | % | 83.4 | % | |||||||||||||
Capital Ratio (Central Bank rules) |
16.3 | % | 16.2 | % | 19.4 | % | 0.6 | % | -15.7 | % | ||||||||||
Excess over Required Capital as a % of Shareholders Equity |
49.9 | % | 49.6 | % | 39.3 | % | 0.5 | % | 27.0 | % |
D% quarter ended 12-31-14 vs | ||||||||||||||||||||
Quarter ended | quarter ended | |||||||||||||||||||
(in thousands of pesos except percentages) |
12-31-14 | 09-30-14 | 12-31-13 | 09-30-14 | 12-31-13 | |||||||||||||||
Exchange rate |
8.55 | 8.46 | 6.52 | 1.0 | % | 31.2 | % | |||||||||||||
Quarterly CER adjustment |
3.8 | % | 4.1 | % | 2.7 | % | -7.3 | % | 44.4 | % |
- 14 -
This press release contains or may contain certain forward-looking statements within the meaning of the United States Securities Litigation Reform Act of 1995, including, among other things, concerning the prospects of the Argentine economy, BBVA Francés earnings, business plans, cost-reduction plans, and capitalization plan, and trends affecting BBVA Francés financial condition or results of operations. Any forward-looking statements included in this press release are based on current expectations and estimates, but actual results and events may differ materially from anticipated future results and events. Certain factors which could cause the actual results and events to differ materially from the expected results or events include: (1) changes in domestic or international stock market prices, exchange rates or interest rates; (2) macroeconomic, regulatory, political or governmental changes; (3) changes in the markets for BBVA Francés products and services; (4) increased competition; (5) changes in technology; or (6) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of BBVA Francés. Additional factors that could cause the actual results or events to differ materially from the expected results or events are described in the reports filed by BBVA Francés with the United States Securities and Exchange Commission (SEC), including, but not limited to, BBVA Francés annual report on Form 20-F and exhibits thereto. BBVA Francés does not undertake to revise or update any of the information contained herein under any circumstances, including if at any moment following dissemination of such information it is no longer accurate or complete.
- 15 -
- 16 -
BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar: by the equity method)
BALANCE SHEET (in thousands of pesos)
12-31-14 | 09-30-14 | 06-30-14 | 12-31-13 | |||||||||||||
Cash and due from banks |
12,560,064 | 12,539,352 | 11,487,854 | 12,881,704 | ||||||||||||
Government and Private Securities |
11,626,187 | 9,634,649 | 10,196,131 | 3,432,871 | ||||||||||||
Holdings booked at fair value |
2,941,865 | 2,562,936 | 2,349,646 | 1,847,536 | ||||||||||||
Holdings booked at amortized cost |
164 | 164 | 164 | 164 | ||||||||||||
Reverse repo |
| | | 134,502 | ||||||||||||
Listed Private Securities |
54,303 | 40,647 | 114,237 | 42,378 | ||||||||||||
Bills and Notes from the Central Bank |
8,630,056 | 7,031,106 | 7,732,288 | 1,408,487 | ||||||||||||
Less: Allowances |
(201 | ) | (204 | ) | (204 | ) | (196 | ) | ||||||||
Loans |
41,442,840 | 40,564,516 | 37,959,114 | 36,468,194 | ||||||||||||
Loans to the private & financial sector |
41,388,381 | 40,512,571 | 37,910,090 | 36,427,279 | ||||||||||||
Advances |
6,861,786 | 7,311,296 | 6,894,271 | 6,552,258 | ||||||||||||
Discounted and purchased notes |
6,035,048 | 6,303,691 | 5,558,444 | 5,476,961 | ||||||||||||
Secured with mortgages |
1,466,346 | 1,387,004 | 1,311,435 | 1,243,900 | ||||||||||||
Car secured loans |
3,695,487 | 3,641,853 | 3,456,216 | 3,479,820 | ||||||||||||
Personal loans |
6,091,937 | 5,977,116 | 5,974,939 | 5,998,744 | ||||||||||||
Credit cards |
11,465,609 | 9,383,445 | 8,651,287 | 7,429,187 | ||||||||||||
Loans to financial sector |
910,437 | 952,622 | 1,114,563 | 1,641,846 | ||||||||||||
Other loans |
5,025,304 | 5,708,632 | 5,008,854 | 4,647,736 | ||||||||||||
Less: Unaccrued interest |
(133,912 | ) | (131,173 | ) | (125,691 | ) | (132,213 | ) | ||||||||
Plus: Interest & FX differences receivable |
908,133 | 854,708 | 889,249 | 811,502 | ||||||||||||
Less: Allowance for loan losses |
(937,794 | ) | (876,623 | ) | (823,477 | ) | (722,462 | ) | ||||||||
Public Sector loans |
54,459 | 51,945 | 49,024 | 40,915 | ||||||||||||
Principal |
8,756 | 9,184 | 9,247 | 8,770 | ||||||||||||
Plus: Interest & FX differences receivable |
45,703 | 42,761 | 39,777 | 32,145 | ||||||||||||
Other banking receivables |
2,612,371 | 6,633,040 | 3,506,347 | 1,168,491 | ||||||||||||
Repurchase agreements |
866,027 | 1,880,783 | 2,035,792 | 176,191 | ||||||||||||
Unlisted private securities |
48,653 | 40,397 | 36,207 | 3,401 | ||||||||||||
Other banking receivables |
1,702,958 | 4,717,449 | 1,439,783 | 993,943 | ||||||||||||
Less: provisions |
(5,267 | ) | (5,589 | ) | (5,435 | ) | (5,044 | ) | ||||||||
Investments in other companies |
327,580 | 295,057 | 270,984 | 218,929 | ||||||||||||
Intangible assets |
144,672 | 143,124 | 131,637 | 120,755 | ||||||||||||
Organization and development charges |
144,672 | 143,124 | 131,637 | 120,755 | ||||||||||||
Other assets |
5,530,060 | 5,074,026 | 4,735,064 | 4,167,180 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Assets |
74,243,774 | 74,883,764 | 68,287,131 | 58,458,124 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Deposits |
51,443,167 | 49,736,747 | 48,049,762 | 43,783,700 | ||||||||||||
Current accounts |
15,360,083 | 16,514,883 | 14,327,189 | 12,040,888 | ||||||||||||
Saving accounts |
14,996,005 | 12,624,715 | 12,567,766 | 11,902,663 | ||||||||||||
Time deposits |
19,950,392 | 19,607,251 | 20,187,951 | 18,914,838 | ||||||||||||
Investment Accounts |
483 | 677 | 1,176 | 4,027 | ||||||||||||
Rescheduled deposits CEDROS |
2,234 | 2,234 | 3,013 | 5,885 | ||||||||||||
Other deposits |
1,133,970 | 986,987 | 962,667 | 915,399 | ||||||||||||
Other banking Liabilities |
8,617,528 | 12,233,676 | 8,267,411 | 4,943,260 | ||||||||||||
Other provisions |
779,487 | 700,849 | 682,626 | 629,905 | ||||||||||||
Other contingencies |
778,910 | 700,276 | 682,061 | 629,366 | ||||||||||||
Guarantees |
577 | 573 | 565 | 539 | ||||||||||||
Other liabilities |
2,799,587 | 2,452,973 | 2,196,480 | 1,779,762 | ||||||||||||
Minority interest |
272,129 | 242,000 | 202,303 | 165,317 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Liabilities |
63,911,898 | 65,366,245 | 59,398,582 | 51,301,944 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Stockholders equity |
10,331,876 | 9,517,519 | 8,888,549 | 7,156,180 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total liabilities + stockholders equity |
74,243,774 | 74,883,764 | 68,287,131 | 58,458,124 | ||||||||||||
|
|
|
|
|
|
|
|
- 17 -
BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar: by the equity method)
INCOME STATEMENT (in thousands of pesos)
12-31-14 | 09-30-14 | 06-30-14 | 12-31-13 | |||||||||||||
Financial income |
3,371,699 | 3,131,111 | 2,930,115 | 2,645,402 | ||||||||||||
Interest on Cash and Due from Banks |
| | | | ||||||||||||
Interest on Loans Granted to the Financial Sector |
76,310 | 83,308 | 93,609 | 55,045 | ||||||||||||
Interest on Overdraft |
516,701 | 547,732 | 534,824 | 381,462 | ||||||||||||
Interest on Discounted and purchased notes |
336,753 | 311,344 | 289,864 | 249,355 | ||||||||||||
Interest on Mortgages |
63,269 | 61,058 | 56,176 | 49,351 | ||||||||||||
Interest on Car Secured Loans |
218,415 | 203,689 | 197,147 | 174,653 | ||||||||||||
Interest on Credit Card Loans |
602,087 | 490,350 | 487,367 | 320,787 | ||||||||||||
Interest on Financial Leases |
90,231 | 85,493 | 81,487 | 71,016 | ||||||||||||
Interest on Other Loans |
731,139 | 706,045 | 669,546 | 625,199 | ||||||||||||
From Other Banking receivables |
44 | 25 | 17 | 11,346 | ||||||||||||
Interest on Government Guaranteed Loans Decree 1387/01 |
3,727 | 3,739 | 4,843 | 2,287 | ||||||||||||
Income from Securities and Short Term Investments |
520,786 | 430,292 | 326,522 | 29,253 | ||||||||||||
CER |
54,932 | 59,060 | 97,602 | 33,193 | ||||||||||||
Foreign exchange difference |
95,913 | 109,718 | 65,186 | 316,975 | ||||||||||||
Other |
61,392 | 39,258 | 25,925 | 325,480 | ||||||||||||
Financial expenses |
-1,394,471 | -1,381,601 | -1,494,065 | (1,049,414 | ) | |||||||||||
Interest on Current Account Deposits |
| | | |||||||||||||
Interest on Saving Account Deposits |
(4,591 | ) | (4,861 | ) | (4,793 | ) | (4,236 | ) | ||||||||
Interest on Time Deposits |
(987,272 | ) | (1,036,853 | ) | (1,142,425 | ) | (766,964 | ) | ||||||||
Interest on Other Banking Liabilities |
(133,732 | ) | (132,759 | ) | (140,647 | ) | (94,896 | ) | ||||||||
Other interests (includes Central Bank) |
(1,868 | ) | (1,992 | ) | (2,105 | ) | (2,734 | ) | ||||||||
CER |
(13 | ) | (23 | ) | (50 | ) | (25 | ) | ||||||||
Bank Deposit Guarantee Insurance system mandatory contributions |
(63,141 | ) | (20,329 | ) | (19,699 | ) | (17,149 | ) | ||||||||
Mandatory contributions and taxes on interest income |
(201,622 | ) | (191,684 | ) | (177,729 | ) | (161,916 | ) | ||||||||
Other |
(2,232 | ) | 6,900 | (6,617 | ) | (1,494 | ) | |||||||||
Net financial income |
1,977,228 | 1,749,510 | 1,436,050 | 1,595,988 | ||||||||||||
Provision for loan losses |
(152,323 | ) | (151,867 | ) | (151,729 | ) | (141,743 | ) | ||||||||
Income from services, net of other operating expenses |
918,875 | 887,922 | 813,890 | 667,451 | ||||||||||||
Administrative expenses |
(1,478,751 | ) | (1,582,636 | ) | (1,319,873 | ) | (993,270 | ) | ||||||||
Income (loss) from equity investments |
32,560 | 85,365 | 42,455 | 17,841 | ||||||||||||
Net Other income |
(32,123 | ) | 14,453 | (21,077 | ) | 5,859 | ||||||||||
Income (loss) from minority interest |
(30,130 | ) | (28,677 | ) | (27,218 | ) | (15,261 | ) | ||||||||
Income before tax |
1,235,336 | 974,070 | 772,498 | 1,136,865 | ||||||||||||
Income tax |
(420,979 | ) | (345,100 | ) | (373,447 | ) | (272,934 | ) | ||||||||
Net income |
814,357 | 628,970 | 399,051 | 863,931 |
- 18 -
BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar consolidated on a line by line basis)
12-31-14 | 09-30-14 | 06-30-14 | 12-31-13 | |||||||||||||
Cash and due from banks |
12,560,154 | 12,539,439 | 11,487,941 | 12,881,781 | ||||||||||||
Government Securities |
11,633,489 | 9,659,082 | 10,231,532 | 3,459,935 | ||||||||||||
Loans |
41,442,840 | 40,564,516 | 37,959,113 | 36,468,194 | ||||||||||||
Other Banking Receivables |
2,612,371 | 6,633,040 | 3,506,948 | 1,168,491 | ||||||||||||
Assets Subject to Financial Leasing |
2,073,242 | 1,995,881 | 1,948,824 | 1,777,778 | ||||||||||||
Investments in other companies |
322,990 | 289,446 | 266,812 | 210,657 | ||||||||||||
Other assets |
3,643,820 | 3,268,571 | 2,964,883 | 2,556,788 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Assets |
74,288,906 | 74,949,975 | 68,366,053 | 58,523,624 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Deposits |
51,442,877 | 49,736,593 | 48,049,643 | 43,759,465 | ||||||||||||
Other banking liabilities |
8,617,533 | 12,233,881 | 8,269,373 | 4,943,260 | ||||||||||||
Minority interest |
276,058 | 246,802 | 205,873 | 172,395 | ||||||||||||
Other liabilities |
3,620,562 | 3,215,180 | 2,952,615 | 2,492,324 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Liabilities |
63,957,030 | 65,432,456 | 59,477,504 | 51,367,444 | ||||||||||||
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|
|
|
|
|
|
|||||||||
Total Stockholders Equity |
10,331,876 | 9,517,519 | 8,888,549 | 7,156,180 | ||||||||||||
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|
|
|
|
|
|
|
|||||||||
Stockholders Equity + Liabilities |
74,288,906 | 74,949,975 | 68,366,053 | 58,523,624 | ||||||||||||
|
|
|
|
|
|
|
|
Net Income
12-31-14 | 09-30-14 | 06-30-14 | 12-31-13 | |||||||||||||
Net Financial Income |
1,978,226 | 1,751,263 | 1,438,503 | 1,598,762 | ||||||||||||
Provision for loan losses |
(152,323 | ) | (151,867 | ) | (151,729 | ) | (141,743 | ) | ||||||||
Net Income from Services |
918,875 | 887,922 | 813,890 | 667,451 | ||||||||||||
Administrative expenses |
(1,478,240 | ) | (1,580,779 | ) | (1,327,955 | ) | (995,759 | ) | ||||||||
Net Other Income |
(1,830 | ) | 97,650 | 24,830 | 24,462 | |||||||||||
Income Before Tax |
1,264,708 | 1,004,189 | 797,539 | 1,153,173 | ||||||||||||
Income Tax |
(421,095 | ) | (345,310 | ) | (373,628 | ) | (273,171 | ) | ||||||||
Net income |
843,613 | 658,879 | 423,911 | 880,002 | ||||||||||||
Minoritary Interest |
(29,256 | ) | (29,909 | ) | (24,860 | ) | (16,071 | ) | ||||||||
Net income for Quarter |
814,357 | 628,970 | 399,051 | 863,931 |
- 19 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BBVA Banco Francés S.A. | ||||||||
Date: February 10, 2015 | By: | /s/ Ignacio Sanz y Arcelus | ||||||
Name: | Ignacio Sanz y Arcelus | |||||||
Title: | Chief Financial Officer |
1 Year Bbva Banco Frances Chart |
1 Month Bbva Banco Frances Chart |
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