Banco Bbva Argentina SA (BBAR): Taurus’s case theory

We encountered a Saudi thesis On Banco Bbva Argentina SA on Jeremie Boyer’s Substack. In this article, we will summarize the bull thesis on BBAR. Banco Bbva Argentina SA has been traded at $ 16.36 as of July 30^Y. BBAR’s Through P/E 11.24 was according to Yahoo Finance.

The CEO of the retail bank stands in front of the company’s logo, pointing to the company’s future.

Argentina, which has long been afflicted with boom boom sessions, may enter a period of total economic normalization between 2025-27. With the spread of sovereignty that is likely to press more than 500 basis points within 18 months, banks appear as the most beneficiaries of direct shares due to the sensitivity of interest rates and leverage. With policy rates lower faster than deposit rate control, banks immediately control the NIM margin (NIM).

Their cost structures-which are placed in the Biso-based inventory-with inflation revenues, provide a powerful operational crane. Current assessments from price to book (P/B) already included the pessimism of extreme profits, which means revenues on stock (ROE) much less than the cost of stock (COE), which indicates besides the material if the total conditions stabilize.

Within this setting, Banco BBVA Argentina (BBAR) is highlighted. Even after assuming the NIM 120 BP haircut to reflect the mitigation rate forecast, the basic BBAR look remains convincing. It takes advantage of the cheap financing structurally, with 63 % of the deposits in the non -load -bearing vision accounts. The digital scale, with 63 % of mobile transactions, supports the target of the ambitious cost to income less than 50 % by 2027.

BBAR also causes credit quality with a loan rate of 1.8 % and coverage 140 %-the best among their peers. NIM shows flexibility, as it decreased by 40 basis points for every 100 points from the average policy of 100 basis points due to the re -postponement of the re -deposit. ROE by 17 % (up from 16 %) against COE by 24 % supports a 2.0 x P/B rating, which implicitly means a price range between 18 and 22 dollars per AdR. With Tailwinds, BBAR provides highly convex stocks to rejuvenate potential macro in Argentina.

Previously, we covered a Saudi thesis On Bancolombia SA (CIB) depending on the unemployed value in January 2025, which highlighted its prevailing share in the market, the Nequi digital bank, and the possibility of re -evaluation. The company’s share price has been approximately 18.51 % since our coverage with the start of the thesis. Jeremie Boyer shares a similar view but confirms the strongest Macro setting from BBAR and the operational lever.

Banco Bbva Argentina SA is not on our list from 30 shares more popular among hedge boxes. According to our database, 13 BBAR hedge boxes were held at the end of the first quarter, which was 12 in the previous quarter. While we acknowledge the BBAR capabilities as an investment, we believe that some artificial intelligence shares provide greater potential in the upward trend and carry less risks on the negative side. If you are looking for a stock of artificial intelligence with less than very apprecia The best inventory of artificial intelligence in the short term.