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    Mario Estracea

    Vice President and Equity Research Analyst at Itaú BBA

    Mario Estracea is a Vice President and Equity Research Analyst at Itaú BBA, specializing in coverage of the utilities and infrastructure sectors across Latin America. He is responsible for analyzing and providing recommendations on major companies such as Engie Brasil, CPFL Energia, Eletrobras, and Equatorial Energia, and has contributed to key sector reports that guide institutional investment decisions in the region. Since joining Itaú BBA in 2020, Estracea has been recognized for his in-depth research and timely market insights, supporting the bank's top-ranked research team, though specific performance metrics and rankings are not publicly available. Previously, he held analytical positions in financial services, and he holds the CFA designation as well as relevant securities licenses.

    Mario Estracea's questions to Banco BBVA Argentina (BBAR) leadership

    Mario Estracea's questions to Banco BBVA Argentina (BBAR) leadership • Q2 2025

    Question

    Mario Estracea from Itaú BBA inquired about the drivers of high real interest rates, their impact on loan demand, and followed up on the recent decline in fee income and its future outlook.

    Answer

    Head of IR Diego Cesarini attributed high rates to the government's anti-inflation strategy, viewing the situation as transitory and noting it affects commercial loan demand, though the bank remains on track for its 50% growth target. CFO Carmen Arroyo clarified that the quarterly fee income drop was due to a non-recurrent item in Q1, while year-over-year growth remains strong at 20%, and improving fee income is a key strategic focus.

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    Mario Estracea's questions to Banco BBVA Argentina (BBAR) leadership • Q2 2025

    Question

    Mario Estracea of Itaú BBA asked about the drivers behind the high real interest rates in treasury auctions and their resulting impact on loan demand. He also followed up on the quarterly decline in fee income and its future outlook.

    Answer

    Head of IR Diego Cesarini explained that high rates are a transitory government policy to fight inflation and stabilize the currency, which is affecting commercial loan demand. CFO Carmen Arroyo clarified that the quarterly drop in fee income was due to non-recurrent items in Q1, while year-over-year growth is strong at 20%, and fees remain a key strategic lever for performance improvement.

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    Mario Estracea's questions to Banco BBVA Argentina (BBAR) leadership • Q2 2025

    Question

    Mario Estracea from Itaú BBA asked about the drivers behind banks demanding higher premiums in treasury auctions, the impact of high real interest rates on loan demand, and the reasons for the quarterly drop in fee income.

    Answer

    Head of IR Diego Cesarini clarified that the government is raising rates to stabilize the FX rate and control inflation, rather than banks demanding higher yields. He acknowledged this temporarily affects loan demand but sees it as transitory. CFO Carmen Arroyo explained the fee income drop was due to non-recurrent positive impacts in Q1, highlighting the 20% year-over-year growth and the bank's strategic plan to improve fee income as a key performance lever.

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    Mario Estracea's questions to Banco BBVA Argentina (BBAR) leadership • Q2 2025

    Question

    Mario Estracea of Itaú BBA questioned the drivers for banks demanding higher premiums in treasury auctions, the impact of high real rates on loan demand, and the reasons for the quarterly dip in fee income.

    Answer

    Head of IR Diego Cesarini explained that higher rates are driven by the government's policy to control inflation and stabilize the FX rate, not by banks demanding higher yields. He acknowledged a transitory negative impact on loan demand. CFO Carmen Arroyo clarified that the quarterly fee income drop was due to a non-recurrent positive impact in Q1, while year-over-year growth remains strong at 20%, and the bank has a strategic plan to grow this line.

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