BBVA Banco Frances S.A (NYSE:BBAR) Q3 2020 Earnings Conference Call - Final Transcript

Nov 25, 2020 • 10:00 am ET


BBVA Banco Frances S.A (NYSE:BBAR) Q3 2020 Earnings Conference Call - Final Transcript


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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 2020 Results Conference Call. [Operator Instructions]

First of all let me stress 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 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 2019 filed with the US Securities and Exchange Commission.

Today with us we have Mr. Ernesto Gallardo, CFO; Ms. Ines Lanusse, IRO; and Mr. Javier Kelly, Investor Relations Manager. Mr. Kelly, you may begin your conference.

Javier Kelly Grinner

Hello, everyone, and welcome to the BBVA Argentina earnings conference call for a discussion of our third quarter 2020 results. Before we begin our formal remarks, allow me to remind you that certain statements made during the course of the discussion may constitute forward-looking statements which are based on management's current expectation and beliefs, and are subject to a number of risks and uncertainties that could cause actual results to materially differ, including factors that may be beyond the company's control. For a description of this risk, please refer to our filings with the SEC and our earnings release, which are available at our Investor Relations website

Speaking during today's call will be Ines Lanusse, also joining us today is Ernesto Gallardo, our Chief Financial Officer, who will be available for the Q&A session. Please note that that starting January 1, 2020 as per Central Bank's regulations, we have begun reporting results applying hyperinflation accounting in accordance with IFRS rule IAS 29, for ease of comparability, figures for all quarter of 2019 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2020.

Now let me turn the call over to Ines.

Ines Lanusse

Thank you, Javier, and thank you all of you for joining us on the third quarter 2020 earnings conference call. We hope you and your beloved ones are healthy and safe on these challenging times. From the beginning of the pandemic, BBVA Argentina has prioritized its clients and employees safety, both in central offices and in branch network. The Bank has provided its clients through its traditional and digital channels, not only it's wide range of products, but also all possible support that has surged through the health emergency regulation implemented by the Argentine government.

Regarding digital transformation, the penetration of digital clients reached 71% from 69% on the -- and the penetration of mobile clients reached 59% from 57% in the prior quarter. Moreover, digital branches have been launched in October '20 combining several features between human capital and structure facilities to promote client