Banco BBVA Argentina S.A. (NYSE:BBAR) Q2 2024 Earnings Conference Call August 22, 2024 11:00 AM ET

Company Participants

Belen Fourcade - Investor Relations
Carmen Morillo Arroyo - CFO
Ines Lanusse - IRO

Operator

Good morning, ladies and gentlemen, and thank you for waiting. At this time, we would like to welcome everyone to BBVA Argentina's Second Quarter 2024 Results Conference Call. We would like to inform you that, this event is being recorded, and all participants will in listen-only mode during the company presentation. After the company remarks are completed, there will be a question-and-answer section. [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 1933 under U.S. 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 20F for the fiscal year 2023, filed with the U.S. 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 second quarter 2024 result conference call. Today's webinar will be supported by a slide presentation available on our Investor Relations website on the 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 2023 and 2024 figures have been restated to reflect the accumulated effect of the inflation adjustment for each period through June 30, 2024.

Now let me turn the call over to Ines.

Ines Lanusse

Thank you, Belen and thank you all for joining us today. In the second quarter of 2024, the significant fiscal consolidation, the relative FX rate stability and the sharp contraction in economic activity have led to a gradual moderation of inflation in recent months. Despite the uncertainty and related risks, according to BBVA Research, it is likely that these ongoing adjustments, eventually complemented by additional measures, could set the basis for an inflation slowdown along the year.