Group 1: Banco Bilbao Viscaya Argentaria (BBVA) - The company is engaged in a wide variety of banking, financial, and related activities in Spain [1] - The Zacks Consensus Estimate for its current year earnings has increased by 6.1% over the last 60 days [1] - The company has a Zacks Rank of 1 (Strong Buy) and a dividend yield of 5.2%, compared to the industry average of 4.1% [1] Group 2: United Microelectronics (UMC) - The company specializes in providing foundry services for high-performance semiconductor applications [1] - The Zacks Consensus Estimate for its current year earnings has increased nearly 3.1% over the last 60 days [1] - The company has a Zacks Rank of 1 and a dividend yield of 4.5%, compared to the industry average of 0.0% [1] Group 3: Jackson Financial (JXN) - The company is a U.S. retirement services provider supported by a diverse portfolio of differentiated products [2] - The Zacks Consensus Estimate for its current year earnings has increased nearly 1.6% over the last 60 days [2] - The company has a Zacks Rank of 1 and a dividend yield of 2.8%, compared to the industry average of 0.0% [2]

Core Insights - The report titled "Enterprise Tech Ecosystem Series: BBVA 2024" provides a comprehensive overview of BBVA's technology activities, focusing on digital transformation strategies, innovation programs, and technology initiatives [1][2]. Group 1: Digital Transformation and Innovation - BBVA's digital transformation strategies and innovation programs are highlighted, showcasing the bank's commitment to enhancing its technological capabilities [2][3]. - The report details various technology initiatives, including partnerships, product launches, investments, and acquisitions, aimed at driving BBVA's tech evolution [2][4]. Group 2: Technology Initiatives and Budget - Insights into each technology initiative are provided, covering themes, objectives, and benefits associated with BBVA's tech focus [2][4]. - The report includes details on estimated ICT budgets and major ICT contracts, which are crucial for understanding BBVA's financial commitment to technology [2][4]. Group 3: Key Executives and Network - The profile outlines key executives involved in BBVA's technology strategy, emphasizing leadership in driving innovation [4]. - A partnership, investment, and acquisition network map is included, illustrating BBVA's collaborative approach in the tech ecosystem [4].

Core Insights - The report titled "Mexico Cards and Payments: Opportunities and Risks to 2028" provides a comprehensive analysis of the Mexico cards and payments industry, including current and forecast values for debit, credit, and charge cards [1][2] - It highlights the impact of fintech companies and digital-only banks on competition and debit card adoption in Mexico [3] - The report also discusses the recovery of the credit card market from high inflation and the collaboration between scheme service providers and mobile wallet platforms to increase credit card penetration [4] Market Overview - The report includes detailed analysis of market trends, key performance indicators, and the competitive landscape of the Mexico cards and payments industry [2][6] - It covers the number of cards in circulation, transaction values, and volumes during the review period (2020-2024) and forecast period (2024-2028) [2] Payment Instruments - The report provides insights into various payment instruments including cash, cards, credit transfers, direct debits, and cheques, along with an overview of alternative payment instruments in Mexico [1][6] - It emphasizes the growth of contactless payments, particularly in public transportation systems like the Mexico City Metrobus [5] Consumer Insights - The report analyzes consumer attitudes and buying preferences for cards, providing a comprehensive understanding of market dynamics [7] - It highlights promotional strategies used by companies to drive card adoption, such as the DiDi Card promotion [5] Competitive Landscape - The report offers a detailed competitor analysis, including market shares of leading card issuers and schemes in Mexico [2][7] - It identifies key players in the market, including BBVA, Citibank, Nubank, Visa, and Mastercard [9] Regulatory Environment - The report discusses regulatory policies and recent changes in the regulatory structure affecting the Mexico cards and payments industry [2][4] - It provides insights into the implications of these regulations for market participants [8]

Core Thesis - BBVA Argentina's stock has returned 57% since April 2024, driven by Argentina's improving economy and inflation trends, with an updated price target of $14 indicating further upside potential [1] Earnings Performance - In Q2 2024, BBVA Argentina reported an inflation-adjusted net income of $112.9 billion, a 178.8% increase from Q1 2024 and a slight increase from Q2 2023 [2] - The bank achieved an inflation-adjusted average return on assets of 4.7% and an average return on equity of 19.5% in Q2 2024 [2] - The non-performing loan (NPL) ratio stood at 1.18% with a coverage ratio of 165.5%, indicating strong risk management [2] Operational Efficiency - The efficiency ratio improved to 55.3% in Q2 2024, a decrease of approximately 10% quarter-over-quarter, reflecting operational improvements amid declining inflation [3] - Allowances for loan losses increased by 30.4% in Q2 2024 due to growth in the loan portfolio, demonstrating prudent risk management [3] Consumer Confidence and Digital Growth - Retail digital sales and active digital clients are increasing, contributing to BBVA Argentina's reputation as a trustworthy bank [4] - The bank's loan portfolio grew significantly, with retail loans up 41.1%, commercial loans up 50.1%, and total loans up 45.8% in Q2 2024 [4] - Deposits increased by 2.6% quarter-over-quarter, driven by a 36% rise in time deposits, indicating improving consumer confidence [4] Privatization and Economic Reforms - Economic reforms under Milei have led to the privatization of state-owned assets, enhancing lending confidence in the private sector [5][6] - Private credit in pesos grew by 176% year-over-year, with BBVA Argentina's private loan portfolio increasing by 230% [5] Valuation and Future Outlook - The bank's earnings estimates suggest a forward P/E ratio of 3-4x is too low, indicating potential for significant upside through earnings growth and multiple expansion [7] - Assuming conservative EPS of $1.50 and a P/E multiple of 9, the fair value is estimated at $14 per share, reaffirming a bullish outlook [8]

Financial Data and Key Metrics Changes - The net attributable profit for Q2 2024 reached EUR2,794 million, a 38% increase year-over-year and a 27% increase quarter-over-quarter [5] - Earnings per share grew to EUR0.47, reflecting a 28% quarter-over-quarter and 42% year-over-year growth [5] - The CET1 capital ratio decreased by 7 basis points to 12.75%, still above target ranges and regulatory requirements [6] - Return on tangible equity reached 20%, marking a significant milestone for the company [6][7] Business Line Data and Key Metrics Changes - Net interest income increased by 17% year-over-year and 1% quarter-over-quarter, driven by strong activity growth [10] - Net fees and commissions rose by 35% year-over-year and 4.4% quarter-over-quarter, primarily from payments and asset management [10] - The efficiency ratio improved to 39.3%, breaking the 40% barrier, indicating enhanced operational efficiency [14] Market Data and Key Metrics Changes - Gross income grew by 29% in Spain, 14% in Mexico, 47% in Turkey, and 16% in South America year-over-year [11] - Loan growth at the group level increased by 10.7% year-over-year, with notable growth in Spain (2.4%) and Mexico (12.6%) [12] - The cost of risk slightly increased to 142 basis points, influenced by growth in high-risk retail segments and emerging markets [15] Company Strategy and Development Direction - The company aims to grow its customer base, having acquired 5.6 million new customers in the first half of 2024, with 67% from digital channels [17] - Sustainability remains a key focus, with EUR46 billion channeled into sustainable business in the first half of 2024 [18] - The company is pursuing a takeover bid for Banco Sabadell, emphasizing synergies and value creation for both entities [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining profitability despite market challenges, with expectations for continued loan growth and stable revenues [12][24] - The outlook for NII growth in Spain has been revised to low-teens, reflecting strong activity and higher-than-expected rates [23] - Management remains optimistic about the competitive landscape, particularly in Mexico, where they continue to lead in market share [54] Other Important Information - The company reported a slight increase in the cost of risk, primarily due to growth in high-risk segments and expected normalization in Turkey [15][28] - The company has set decarbonization targets for 2030 in new sectors, reinforcing its commitment to sustainability [18] Q&A Session Summary Question: Decline in deposit costs in Spain - Management explained that the decline is due to a decrease in the curve affecting large corporate clients, leading to a reduction in the weighted average cost of deposits [41] Question: NII trajectory in Mexico - Management indicated that while NII was flat due to reliance on wholesale funding, they expect profitability to remain strong, with a focus on managing the funding gap [44][46] Question: Outlook for NII growth in Spain - Management expects NII to perform positively in 2025, compensating for spread declines through activity growth and improved asset quality [50] Question: Lending and deposit growth in Mexico - Management noted a small decline in deposit costs and expressed confidence in maintaining a competitive edge in both lending and deposits [52][54]

2Q24 Earnings July 31, 2024 2Q24 Earnings 2 Disclaimer This document is only provided for information purposes and is not intended to provide financial advice and, therefore, does not constitute, nor should it be interpreted as, an offer to sell, exchange or acquire, or an invitation for offers to acquire securities issued by any of the aforementioned companies, or to contract any financial product. Any decision to purchase or invest in securities or contract any financial product must be made solely and ex ...

Banco Bilbao (BBVA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.I ...

Spanish bank BBVA is reportedly considering opening a digital consumer bank in Germany.In this effort, the bank will use existing technology to lower the cost of expansion, Bloomberg reported Monday (June 17), citing unnamed sources.BBVA did not immediately reply to PYMNTS’ request for comment.The project is led by the head of BBVA’s digital bank in Italy, Javier Lipuzcoa, and the bank is preparing a feasibility study and putting together a team that would lead the new unit, according to the report.This eff ...

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors of ...

BUENOS AIRES, Argentina, May 22, 2024 /PRNewswire/ -- Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) ("BBVA Argentina" or "BBVA" or "the Bank") announced today its consolidated results for the first quarter (1Q24), ended on March 31, 2024. As of January 1, 2020, the Bank started to inform its inflation adjusted results pursuant to IAS 29 reporting. To facilitate comparison, figures of comparable quarters of 2023 and 2024 have been updated according to IAS 29 reporting to reflect the accumu ...