Banco BBVA Argentina S.A. (NYSE:BBAR) Q3 2023 Earnings Call Transcript November 22, 2023 10:00 AM ET
Company Participants
Belen Fourcade - IR
Ines Lanusse - Investor Relations Officer
Conference Call Participants
Carlos Gomez - HSBC
Operator
Good morning, ladies and gentlemen, and thank you for waiting. At this time, we would like to welcome everyone to BBVA Argentina's Third Quarter 2023 Financial Year Results Conference Call. We would like to inform you that this event is being recorded and all participants will be in listen-only mode during the company presentation. After company remarks are completed, there will be a question-and-answer session. At that time, further instructions will be given. [Operator Instructions].
First of all, let me point out that some of the statements made during this conference call may be forward-looking statements within the meaning of the Safe Harbor provisions found in Section 27A of the Securities Act of 1993 under US Federal Securities Law. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Additional information concerning these factors is contained in BBVA Argentina's Annual Report on Form 20-F for the fiscal year of 2022, filed with the US Securities and Exchange Commission.
Today, with us, we have Ms. Carmen Morillo Arroyo, CFO; Ms. Ines Lanusse, IRO; and Ms. Belen Fourcade, Investor Relations. Ms. Fourcade, you may begin your conference.
Belen Fourcade
Good morning and welcome to BBVA Argentina's Third Quarter 2023 Fiscal Year Result Conference Call. Today's webinar will be supported by a slide presentation available on our investor relations website under Financial Information section. Speaking during today's call will be Ines Lanusse, our Investor Relations Officer; and Carmen Morillo Arroyo, our Chief Financial Officer, who will be available for the Q&A session.
Please note that starting January 1, 2020, as per Central Bank regulation, we have begun reporting results applying hyperinflation accounting pursuant to IFRS rule IAS 29. For ease of comparability, 2022 and 2023 figures have been restated to reflect the accumulated effect of inflation adjustment for each period through September 30, 2023.
Now, let me turn the call over to Ines.
Ines Lanusse
Thank you, Belen and thank you all for joining us today. As we are all aware, Argentina has ended its presidential election process, which started on August 13 with the PASO elections continued with the general elections on October 22 and ended with a second round or ballottage on November 19, where Javier Milei from La Libertad Avanza Party was elected President, changing the current ruling party. The presidential inauguration ceremony will take place on December 10. The unfavorable macroeconomic conditions have continued to deteriorate, increasing the risk of economic and financial turbulence in the high uncertainty context of the electoral scenario. BBVA research expects GDP to fall by around 3% this year, 50 basis points less than previously forecasted, mainly due to better unexpected activity data.