Edgar Filing: BBVA BANCO FRANCES SA

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Form 6-K

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of February 2013

Commission File Number: 001-12568

BBVA French Bank S.A.

(Translation of registrant’s name into English)

Reconquista 199, 1006

Buenos Aires, Argentina

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ¨ No x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ¨ No x

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

BBVA Banco Francés S.A.

TABLE OF CONTENTS


Item

1.		Press release entitled “BBVA Francés” reports consolidated fourth quarter earnings for fiscal year 2012”.

LOGO

Buenos Aires, February 8, 2013 - BBVA Francés (NYSE: BFR.N; BCBA: FRA.BA;

LATIBEX: BFR.LA) reports consolidated fourth quarter earnings for fiscal year 2012.

Annual Highlights

•

BBVA Francés’ net income reached AR$ 1,263.7 million as of December 31, 2012, registering an increase of 25.7% compared to the gain reached in 2011.

•

The Bank’s recurring net financial income for the period reached 1,257.6 million, representing a growth of 13.8% during the year. Such increase reflects BBVA Francés’ continuing capacity to generate gains based mainly on its core business intermediation with the private sector.

•

The private sector loan portfolio totaled AR$ 28,432.1 million at December 31, 2012, an increase of 24.5% in the last twelve months. Both, consumer loans and loans to small and medium-size companies showed an excellent performance during the year, growing 31.5% and 22.4%, respectively. Loans to large corporations decreased 9.3% mainly as a consequence of the fall in loans to finance for foreign trade transactions.

•

In July 2012, the Argentine Central Bank (BCRA) issued a regulation (Communication “A” 5319), which requires certain financial institutions to allocate a minimum amount equal to 5% of total deposits to finance investment projects. At least 50% of such amount must be lent to micro, small and medium-size companies, at an annual interest rate of 15.01% with a minimum term of 36 months. The Bank complied with the amount established, demonstrating flexible retail management and deep business relationships linking it to its customers. By the end of 2012, this line of credit was renewed trough the BCRA Communication “A” 5380, extending the quota to 2013, at an interest rate of 15.25% with the minimum term of 36 months.

•

BBVA Francés maintained excellent asset quality ratios, despite the increase of the non-performing loan portfolio during the period. The non-performing loan ratio reached 0.65% as of December 31, 2012, with a coverage ratio of 278.8%

•

Regarding liabilities, total deposits grew 16.8% in annual terms, reaching AR$ 34,136.8 million. Both, current accounts and term deposits registered significant increases during the period. Deposits in pesos grew 28% in the last twelve months, whereas deposits denominated in foreign currency fell 33.6% in the same period.

•

In addition, during January 2012, BBVA Francés placed the second issuance of its Series 2 Negotiable Obligations, which achieved a high level of demand and allowed the expansion of the initially planned issued amount of AR$ 125 million to AR$ 148.9 million.

•

BBVA Francés, once again, maintained high levels of liquidity and solvency during 2012. As of December 31, 2012 total stockholder’s equity reached AR$ 5,131.9 million, while the excess of capital over the BCRA minimum regulatory requirements, reached AR$ 1,592.6 million, or 31.0% of the Bank’s total stockholder’s equity. The capital ratio reached 17.5% of weighted risk assets.

•

As of December 31, 2012, liquid assets (Cash and due from banks plus BCRA bills and notes) represented 31.6% of the Bank’s total deposits.

•

On September, 2012, the BCRA issued a new regulation, through its Communication“A” 5356, eliminating the possibility of integrating reserves with cash balances. The new regulation is applied in three stages, starting in October; banks were only allowed to deduct 75% of March cash balances, 25% in December and 0% in March. In addition, this effect will be partially offset by reduction of reserves according to branch location and the assignment of loans to micro-companies and small and medium-sized companies (SMEs).

•

During December 2012, a new Law was issued, which foresees significant changes in the regulation of listed entities and securities. This law shall be enforced from January 28, 2013, and the Argentine Securities Commission (CNV) will have until the first half of 2013 to issue the corresponding regulations in order implemented said law. On January 21, 2013, the CNV issued General Resolution N° 165 establishing that entities, markets, stock exchanges and agents will continue to perform their activities in the same way, until the replacement of the regulations.

•

It is important to note that the above mentioned law has clear and specific goals, such as (i) to promote the involvement in the capital markets of small investors, trade unions, associations and chambers of commerce, professional organizations and all public savings institutions; (ii) to strengthen protection mechanisms and prevention of abuses against small investors; (iii) to promote access to capital markets of medium-sized companies; and (iv) to promote the creation of a federally integrated capital market and to simplify trading settlement for users.

•

On January 27, 2012, the BCRA increased the capital requirements for financial institutions operating in Argentina, effective as of February 1, 2012. “Communication A 5272”, requires an increase of capital related to the operational risk and “Communication A 5273” requires an additional buffer equivalent to 75% of the total capital requirement solely for the purpose of distributing profits. As a consequence of the above mentioned resolutions, BBVA Francés will not distribute dividends for this period.


Condensed Income Statement (1)
in thousands of pesos except income per share, income per ADS and percentages	FY 2012			FY 2011			% Change
Net Financial Income		3,644,062			2,455,555			48.4	%
Provision for loan losses		(256,259	)		(132,663	)		93.2	%
Net income from services		1,846,467			1,437,954			28.4	%
Administrative expenses		(3,039,731	)		(2,288,031	)		32.9	%
Operating income		2,194,539			1,472,815			49.0	%
Income (loss) from equity investments		69,818			100,320			-30.4	%
Income (Loss) from Minority interest		(37,874	)		(17,995	)		110.5	%
Other Income/Expenses		(98,179	)		429			—
Income tax		(864,625	)		(549,992	)		57.2	%
Net income for the period		1,263,679			1,005,577			25.7	%
Net income per share (2)		2.4			1.9			25.7	%
Net income per ADS (3)		7.1			5.6			25.7	%

As of December 31, 2012, BBVA Francés registered a net income of AR$ 1,263.7 million, such gain includes non- recurring effects, during the year of:

•

A gain of AR$ 40.3 million as a consequence of the variations in public bond valuations.

•

A gain of AR$ 36.6 million from the sale of the Bank’s stake in the building located at Independencia Street 169 in the city of Buenos Aires.

•

A gain of AR$ 2.7 million from the sale of Consolidar ART.

•

An increase in the effective income tax rate, mainly due to the increase in the fiscal valuation of the BOGAR 2020, as well as due to the tax impact of the Consolidar ART and the building sales.

The following “pro forma” table presents the non-recurring earnings

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Income Statement PROFORMA	Recurring			Non recurring
in thousands of pesos	Income			Income			Total Income
Net Financial Income		3,603,959			40,103			3,644,062
Provision for loan losses		(256,259	)		—			(256,259	)
Net income from services		1,846,467			—			1,846,467
Administrative expenses		(3,039,731	)		—			(3,039,731	)
Operating income		2,154,436			40,103			2,194,539
Income (loss) from equity investments		67,055			2,763			69,818
Income (Loss) from Minority interest		(37,874	)		—			(37,874	)
Other Income/Expenses		(134,798	)		36,619			(98,179	)
Income tax and Minimum Presumed Tax		(793,984	)		(70,641	)		(864,625	)
Net income for the period		1,254,835			8,844			1,263,679


Condensed Income Statement (1)
in thousands of pesos except income per share, income per ADS and percentages	FY 2012			FY 2011			% Change
Net Financial Income		3,603,959			2,580,552			39.7	%
Provision for loan losses		(256,259	)		(132,663	)		93.2	%
Net income from services		1,846,467			1,437,954			28.4	%
Administrative expenses		(3,039,731	)		(2,288,031	)		32.9	%
Operating income		2,154,436			1,597,812			34.8	%
Income (loss) from equity investments		67,055			100,320			-33.2	%
Income (Loss) from Minority interest		(37,874	)		(17,995	)		110.5	%
Other Income/Expenses		(134,798	)		429			—
Income tax		(793,984	)		(575,406	)		38.0	%
Net income for the period		1,254,835			1,105,160			13.5	%
Net income per share (2)		2.3			2.1			13.5	%
Net income per ADS (3)		7.0			6.2			13.5	%

Quarterly Highlights

•

BBVA Francés reached a net income during the fourth quarter of AR$ 274.9 million; such gain includes the public bonds valuations adjustment, which did not register a significant variation during the quarter. Net income for the quarter decreased by 44.8% and 34.1%, respectively compared to the same quarter of 2011 and to the previous quarter, mainly due to the performance of the securities portfolio.

•

Recurring income during the quarter showed a decrease of 8.3% and 25.0% compared to the same quarter of 2011 and to the previous quarter, respectively.

•

Net financial income from private sector’ lending grew 65.9% compared to the same quarter of 2011 and 12.1% in the last twelve months, such increases show a significant expansion in the business’ volume as well as BBVA Francés ability to adapt to the changing market conditions.

•

The private sector loan portfolio increased 11.2% in the last quarter of the year, accelerating the pace of growth. The total portfolio totaled AR$ 28,432.1 million. Loans to small and medium-sized companies grew 18.4% during the quarter, whereas consumer loans increased 11.6% and loans to large corporation did not register any variation compared to the previous quarter.

•

The Bank’s total deposits reached AR$ 34,164.3 million by the end of the year, increasing 9.9% during the last quarter. Sight deposits grew 10.4% and time deposits 5.0% during the same period.

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Economic Environment

Economic activity continued showing signs of recovery in the fourth quarter of 2012, as the Monthly Estimator of Economic Activity (EMAE seasonally adjusted;), which is a monthly proxy for GDP, increased in October by 1.8% compared to the same period of 2011, and the Industrial Production Index (EMI) rose in October-November by 2.7% compared to the previous quarter and 0.6% compared to the same two months of 2011. The Synthetic Index of Construction Activity (ISAC.), on the other hand, is continues to show contractive behavior in the construction sector, as it fell in October-November 0.5% with respect to third quarter of 2012 and decreased 0.1% with respect to the same two months of 2011; however the rate of decline has slowed in comparison with the 4.6% decrease un the third quarter of 2012.

Inflation, as measured by the official Consumer Price Index for Greater Buenos Aires (which is used to calculate the CER adjustment for some sovereign bonds) increased by 2.8% in the fourth quarter of 2012, slightly above the 2.6% growth of third quarter, and 10.8% in annual terms.

The primary fiscal deficit of the national public sector was AR$ 62 million during the months of October-November 2012 compared to the surplus of AR$ 872 million during the same period in the previous year.

The 29.1% annual increase in primary public sector spending was higher than the increase in public sector revenues of 27.6%. The total fiscal deficit reached AR$ 6,324 million (+108.9%) mainly due to the 60.6% increase in interest payments.

The items that most contributed to the increase in fiscal spending in the period were Social Security Benefits, which grew 32.8% y/y, public sector salaries which grew 38.9 % y/y, and current expenditures which grew 71 % y/y. Capital expenditures and Transfers to private sector showed a deceleration of 16.1 % y/y and 9.8 % y/y respectively. On the revenues side, Social Security Contributions grew 31.3% y/y while tax collections increased by only 26.0% y/y in the same period.

In the external sector, the accumulated trade surplus in the fourth quarter of 2012 reached USD 1,748 million, 5.7% lower than that recorded in the fourth quarter of 2011. The performance of the trade balance is the result of total exports in the fourth quarter of 2012 of USD 19.353 million (-5.0% y/y) and total imports of USD 17.605 million (-4.9% y/y).

In the FX market, the exchange rate (BCRA reference rate) closed at AR$ 4.9170 per U.S. dollar on December 31, 2012, increasing 4.8% compared to the AR$ 4.6942 rate at September 30, 2012. In the fourth quarter of

2012, the stock of international reserves of the Central Bank decreased by USD 1.720 million to USD 43.290 million on 31 December, 2012. During the third quarter of 2012, the Central Bank bought USD 1264 million in the FX market, above the USD 574 million it bought in the third quarter of 2012.

The Badlar interest rate for private banks increased 139 basis points on the fourth quarter of 2012 averaging 15.2% compared to the 13.8% average in the third quarter of 2012. Private sector loans in pesos rose 11.9% in the fourth quarter of 2012 compared to the third quarter of 2012, while private sector loans in dollars fell by 11 % in the same period. Total deposits in pesos in the financial system increased by 8.9%, and private sector deposits, also in pesos, grew 11.6% in the fourth quarter of 2012. In contrast, Private sector deposits in USD decreased by 0.9% in the last quarter of 2012.

The Bank

BBVA Francés, a bank with over 125 year history, has vast experience in the market, offering the best products and services through its wide distribution network throughout Argentina. Its strength, commitment and flexibility allow it to retain existing clients and attract new clients’ day to day, achieving a place as one of the main financial institutions in the Argentine financial system.

During the fourth quarter of 2012, BBVA Francés continued to work at strengthening its relationship with clients and, employees, offering the best products and providing the best quality of service experience. To that end, the various projects listed below were implemented.

In the retail segment, the Bank introduced new tools in its web page and Francés Net. A new page view allowing for easier and faster web navigation was created an a innovative tool (“simulador de préstamos”) developed that allow clients to simply and quickly simulate various personal loans and corresponding details, based on each client’s profile.

Through these improvements, BBVA Francés strengthened the use of alternative channels, providing better service to its clients. In Addition, on December 20, 2012, installation of BBVA Francés VIP Spaces began in the Bank’s branches: These spaces are specially designed to achieve an exclusive environment with the privacy and personalized attention that the clients deserve, as well as maximizing the interaction between clients and their bank officer.

In the commercial segment, BBVA Francés continued to work to improve service’ quality and in achieve a closer relationship with its clients. It created “Help

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Desk”, a new telephone platform that allows to optimize customer service, provides greater identification security while at the same time reduces internal management and attention to client time, thus promoting business growth.

At the same time a new branch was opened in Chivilcoy, in an area characterized by the agribusiness activity. This opening demonstrates the impetus that the Bank provides to the commercial enterprises, offering new lines of credit for productive investment, financial loans, leasing, and agreement with preferential interest rates, among others.

As part of the differentiated service’ plan, the Bank offers to its customers and as a an opportunity to approach new ones, during November, the “Comex”, (foreign trade operations) area, carried out “Foreign Trade workshops”, where more than 200 companies participated, including clients and others, to discuss current subjects, new regulations related to imports and exports and payment of services abroad.

As usual, the Bank presented its traditional prize, the 23rd, BBVA Francés Award to the Agricultural Entrepreneur, which has become a recognition and stimulus for entrepreneurs, farmers and professionals of the sector who have innovative in their business and improved profitability as a result This offers the possibility to be part of an important group, with wide opportunities for business, image, prestige, advertisement and the recognition of the authorities of the sector.

Finally, it is important to highlight the social role played by BBVA Francés. In April 2012, the “Compromiso Social BBVA Francés” (BBVA Francés Social Compromise) was presented, announcing an investment of over the AR$ 10 million. Such commitment defines three lines of work: the environmental preservation stimulus to entrepreneurs and BBVA Francés Scholarship Program (with three related programs; Artists for Education, Sportsmen for Education and Investigation and Analysis), which is present in 10 provinces and the Capital City de Buenos Aires, through alliances with 21 NGOs linked to 125 schools. During its 6 years of existence, the Program has directly benefited more than 4,300 pupils and indirectly more than 17,300 people.

Presentation of Financial Information

•

Foreign currency balances as of December 30, 2012 have been translated into pesos at the reference exchange rate published by the BCRA. ($ 4.9173/ US$).

•

This press release contains unaudited information that consolidates all of the banking activities of BBVA Banco Francés and its subsidiaries on a line-by-line basis. The Bank’s share interest in the Consolidar Group is shown as Investments in other companies (booked by the equity method) and the corresponding results are included in Income from equity investments.

•

Information contained in this press release may differ from the information published by BBVA Group for Argentina, which is prepared according to Spanish accounting standards for all BBVA Group affiliates.

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Financial Information


Condensed Income Statement (1)	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except income per share, ADS and percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Net Financial Income		966,652			982,776			975,824			-1.6	%		-0.9	%
Provision for loan losses		(100,226	)		(78,718	)		(40,197	)		27.3	%		149.3	%
Net income from services		516,632			474,675			402,072			8.8	%		28.5	%
Administrative expenses		(861,310	)		(770,844	)		(651,417	)		11.7	%		32.2	%
Operating income		521,748			607,889			686,282			-14.2	%		-24.0	%
Income (Loss) from equity investments		12,056			28,992			4,605			-58.4	%		161.8	%
Income (Loss) from Minority interest		(11,644	)		(9,521	)		(5,868	)		22.3	%		98.4	%
Other Income/Expenses		(51,456	)		(6,338	)		(10,476	)		711.9	%		391.2	%
Income tax and Minimum Presumed Tax		(195,770	)		(203,648	)		(176,161	)		-3.9	%		11.1	%
Net income for the period		274,934			417,374			498,382			-34.1	%		-44.8	%
Net income per share (2)		0.51			0.78			0.93			-34.1	%		-44.8	%
Net income per ADS (3)		1.54			2.33			2.78			-34.1	%		-44.8	%

(1)	Exchange rate: AR$ 4.9173 Ps = 1 USD

(2)	Assumes 536,877,850 ordinary shares

(3)	Each ADS represents three ordinary shares

During the fourth quarter of 2012, the Bank’s net income totaled a gain of AR$ 274.9 million.

As previously mentioned during the quarter, the impact in the variations of the public bonds valuations was not significant during the quarter.

The following “pro forma” table presents the non-recurring earnings.


Condensed Income Statement PROFORMA 12/31/212				Non recurring
in thousands of pesos	Recurring results			Income			Total results
Net Financial Income		968,301			(1,649	)		966,652
Provision for loan losses		(100,226	)		—			(100,226	)
Net income from services		516,632			—			516,632
Administrative expenses		(861,310	)		—			(861,310	)
Operating income		523,397			(1,649	)		521,748
Income (loss) from equity investments		12,056			—			12,056
Income (Loss) from Minority interest		(11,644	)		—			(11,644	)
Other Income/Expenses		(51,456	)		—			(51,456	)
Income tax and Minimum Presumed Tax		(198,457	)		2,687			(195,770	)
Net income for the period		273,896			1,038			274,934

In order to standardize the comparison with previous quarters; the analysis of the variations is made in terms of recurring results.

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Condensed Income Statement PROFORMA	Quarter ended									D% quarter ended 09/30/12 vs quarter ended
in thousands of pesos	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Net Financial Income		968,301			927,636			744,683			4.4	%		30.0	%
Provision for loan losses		(100,226	)		(78,718	)		(40,197	)		27.3	%		149.3	%
Net income from services		516,632			474,675			402,072			8.8	%		28.5	%
Administrative expenses		(861,310	)		(770,844	)		(651,417	)		11.7	%		32.2	%
Operating income		523,397			552,749			455,141			-5.3	%		15.0	%
Income (Loss) from equity investments		12,056			28,992			4,605			-58.4	%		161.8	%
Income (Loss) from Minority interest		(11,644	)		(9,521	)		(5,868	)		22.3	%		98.4	%
Other Income/Expenses		(51,456	)		(6,338	)		(10,476	)		711.9	%		391.2	%
Income tax and Minimum Presumed Tax		(198,457	)		(200,739	)		(144,721	)		-1.1	%		37.1	%
Net income for the period		273,896			365,143			298,681			-25.0	%		-8.3	%

BBVA Francés reached a net income of 273.9 million during the four quarter of 2012, registering a decrease compared to the same quarter of 2011 and to the previous quarter.

The growth in the volume of intermediation with the private sector resulted in an increase of net financial income of 30.0% and 4.4% compared to the quarters ended on December 31, 2011 and September 30, 2012, respectively.

Provisions for loan losses in the quarter grew 27.3% and 149.3% compared to the same quarter of 2011. The increase was mainly due to a higher loan portfolio and the increase in the non-performing loans.

Net income from services increased 28.5% compared to the last quarter of 2011 and 8.8% in the last twelve months. During both periods credit card fees and deposits services fees registered the most growth.

Administrative expenses increased 32.2% and 11.7% compared to the same quarter of 2011 and to the previous quarter, respectively.

Finally, other income/expenses registered a loss of AR$ 51.5 million, mainly due to higher provisions for other contingencies.


Main figures	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Return on Average Assets (1)		2.6	%		4.1	%		5.3	%		-38.1	%		-51.7	%
Return on Average Shareholders’ Equity		22.0	%		35.9	%		55.1	%		-38.7	%		-60.0	%
Net fee Income as a % of Recurrent Operating Income		34.8	%		33.8	%		35.1	%		2.8	%		-0.8	%
Net fee Income as a % of Administrative Expenses		60.0	%		61.6	%		61.7	%		-2.6	%		-2.8	%
Adm. Expenses as a % of Recurrent Operating Income (2)		58.0	%		55.0	%		56.8	%		5.5	%		2.1	%

(1)	Annualized.

(2)	Adm.Expenses / (Net financial income + Net income from services)

The book value version of the income statement is considered in the line item analysis.

Net Financial Income

Net financial income did not registered a significant variation during the quarter, compared to the quarter ended December 31, 2011 and to the previous quarter.

However, net income from financial intermediation grew 65.9% and 12.1% in such periods. The increases reflect the significant expansion of the volume of business activity in maintaining the sustained growth trend of recent quarters.

As previously mentioned, the net financial income result includes the non-recurring income originated by variations in the valuation of public securities. Such results totaled gains of AR$ 231.1 million and AR$ 55.1 million, compared to quarters ended December 31, 2011 and September 30, 2012, respectively, whereas the last quarter of 2012 showed a no significant loss.

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Net financial income	Quarter ended						D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12		09-30-12		12-31-11		09-30-12			12-31-11
Net financial income		966,652		982,776		975,824		-1.6	%		-0.9	%
Net income from financial intermediation		714,358		637,438		430,551		12.1	%		65.9	%
CER adjustment		34,155		29,602		27,798		15.4	%		22.9	%
Income from securities and short term investments		127,312		202,599		381,062		-37.2	%		-66.6	%
Interest on Government guaranteed loans		1,969		1,807		6,218		9.0	%		-68.3	%
Foreign exchange difference		43,793		52,371		51,336		-16.4	%		-14.7	%
Others		45,065		58,959		78,859		-23.6	%		-42.9	%

Income from Public and Private Securities

The Bank has the discretion to mark-to market its total public bonds portfolio; because of that, such income includes the unrealized losses/gains from variations in the valuations of the portfolio.


Income from securities and short-term investments	Quarter ended							D % quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12		12-31-11		09-30-12			12-31-11
Income from securities and short-term investments		127,312			202,599		381,062		-37.2	%		-66.6	%
Holdings booked at fair value		51,464			103,290		294,896		-50.2	%		-82.5	%
Bills and Notes from the Central Bank		76,377			97,981		76,477		-22.0	%		-0.1	%
Other fixed income securities		(529	)		1,328		9,689		-139.8	%		-105.5	%
CER adjustment		34,189			29,635		27,837		15.4	%		22.8	%

Net Income from Services

The increase in net income from services also reflects the growth in the business activity level; such income grew 28.5% compared to the same quarter of 2011, and 8.8% compared to the previous quarter.

Higher consumption with credit cards, higher fees originated by deposits services and for insurance sales led the growth in the last twelve months.

Service charge expenses grew mainly due to the increase in benefits offered for credit card consumption.

Compared to the previous quarter, both service charge income and expenses were affected by credit card consumption, growing 13.6% and 27.8%, respectively.


Net income from services	Quarter ended									D % quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Net income from services		516,632			474,675			402,072			8.8	%		28.5	%
Service charge income		722,178			635,549			545,552			13.6	%		32.4	%
Service charges on deposits accounts		154,510			149,344			125,265			3.5	%		23.3	%
Credit cards and operations		284,224			234,010			204,404			21.5	%		39.1	%
Insurance		68,390			62,425			48,707			9.6	%		40.4	%
Capital markets and securities activities		10,037			3,307			10,020			203.5	%		0.2	%
Fees related to foreign trade		21,784			20,316			19,608			7.2	%		11.1	%
Other fees		183,234			166,147			137,549			10.3	%		33.2	%
Services Charge expense		(205,547	)		(160,874	)		(143,480	)		27.8	%		43.3	%

- 8 -

Administrative Expenses

Administrative expenses increased 32.2% compared to the same quarter of 2011, while compared to the previous quarter, the increase was 11.7%

Personnel expenses grew in the last twelve months mainly due to the increase in wages according to the agreement reached with the labor union and to a higher number of employees.

General expenses increased 31.8% during the same period, due to tax charges, amortizations, fees and all charges related directly to the business activity level and to price adjustments related to structural fixed costs, (cleaning, rent and security).

During the last quarter, personnel expenses increased 14.6%, such growth was mainly due to a fixed amount of AR$ 1,400 paid because of the “banker day”.

Compared to the previous quarter, general expenses grew 8.1% mainly due to higher charges in fees and taxes charges, partially offset by lower charges in advertising.

As of December 31, 2012, the Bank and its subsidiaries (except the Consolidar Group) had 5,158 employees. The branch’ office network totaled 273 offices, including 244 consumer branch offices and 29 branch offices specializing in the middle-market segment. Corporate banking included 7 business units grouped by industry. Complementing its distribution network, the Bank has 10 in-company branches and 2 point of sale outlets, 655 ATM’s and 700 quick deposit boxes (QDBs).


Administrative expenses	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Administrative expenses		(861,310	)		(770,844	)		(651,417	)		11.7	%		32.2	%
Personnel expenses		(491,455	)		(428,817	)		(370,730	)		14.6	%		32.6	%
Electricity and Communications		(16,741	)		(15,176	)		(10,936	)		10.3	%		53.1	%
Advertising and Promotion		(42,078	)		(50,401	)		(43,272	)		-16.5	%		-2.8	%
Honoraries		(14,711	)		(10,936	)		(9,016	)		34.5	%		63.2	%
Taxes		(62,667	)		(58,741	)		(45,271	)		6.7	%		38.4	%
Organization and development expenses		(11,851	)		(10,533	)		(8,013	)		12.5	%		47.9	%
Amortizations		(25,500	)		(23,402	)		(17,548	)		9.0	%		45.3	%
Other		(196,307	)		(172,838	)		(146,631	)		13.6	%		33.9	%

Other Income / Expenses

Other income/expenses totaled a loss of AR$ 51.5 million during the fourth quarter of 2012 mainly due to higher provisions for other contingencies recorded during the period.

Income from Equity Investments

Income from equity investments sets forth net income from related companies that are not consolidated. During the last quarter of 2012 a gain of AR$ 12.1 million was recorded, mainly due to BBVA Frances’ stake in the Rombo Compañia Financiera.

- 9 -

Balance and activity

Total Public Sector Exposure

Exposure to the public sector’s National treasury decreased 10.6% compared to the same quarter of 2011 mainly due to amortizations; sale of part of the portfolio. The portfolio did not register a significant variation compared to the previous quarter.

The Bank’s portfolio of BCRA bills and notes remained similar to the one held in the same quarter of 2011 and it decreased 19.7% compared to the previous quarter.

As of December 31, 2012, public sector National treasure assets represented 4.7% of the Bank’s total assets. Total exposure to BCRA’s bills and notes net of holdings linked to reverse repo transactions, represented 4.9% of the Bank’s total assets.

Total exposure to the public sector includes public debt of the national treasury through public securities, guaranteed loans and trustees, as well as, the BCRA’s bills and notes.


Exposure to the Public Sector	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Public Sector - National Government		2,082,441			2,070,079			2,328,662			0.6	%		-10.6	%
Loans to the Federal government & Provinces		35,067			33,293			46,027			5.3	%		-23.8	%
Total bond portfolio		1,871,389			1,861,296			2,113,391			0.5	%		-11.5	%
Holdings book at fair value		1,829,927			1,834,263			2,081,053			-0.2	%		-12.1	%
Holdings book at amortized cost		164			164			164			0.0	%		0.0	%
Other government bonds		41,298			26,869			32,174			53.7	%		28.4	%
Trustees		176,173			175,677			169,428			0.3	%		4.0	%
Allowances		(188	)		(187	)		(184	)		0.5	%		2.2	%
Bills and Notes from Central Bank		2,201,676			3,343,434			3,447,972			-34.1	%		-36.1	%
Own portfolio		2,201,676			2,743,120			2,257,666			-19.7	%		-2.5	%
Reverse repo w /Central Bank		—			(600,314	)		(1,190,306	)		-100.0	%		-100.0	%
Total exposure to the Public Sector		4,284,117			5,413,513			5,776,634			-20.9	%		-25.8	%
Total exposure to the Public Sector without repos		4,284,117			4,813,199			4,586,328			-11.0	%		-6.6	%

Loan Portfolio

The private sector loan portfolio totaled AR$ 28,432.1 million as of December 31, 2012, growing 24.5% in the last twelve months and 11.2% during the last quarter. The pace of growth accelerated in the fourth quarter, with loans to SMEs and consumer loans driving the expansion.

During 2012, loans to small and medium-sized companies grew 22.4%, it is important to mention that the management of the line of credit for the productive investment for micro, small and medium-sized companies was instrumental in placing loans and leasing, reaching the target established, that was partially offset by a decrease in the financings for foreign trade transactions.

The retail segment registered an increase in the last twelve months of 31.5$, mainly due to credit cards, personal loans and card loans.

Finally loans to large corporations fell 9.3% during 2012, mainly due to the decline in foreign trade transactions, partially offset by increases in financial loans and advances.

Compared to the previous quarter, the increase was led by higher loans to small and medium-sized companies, which grew 18.4%, whereas the increase in the retail segment was 13.6% in the same period. Corporate banking maintained its portfolio at similar levels to the previous quarter.

- 10 -


Net loans	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Private & Financial sector loans		28,432,131			25,566,368			22,829,860			11.2	%		24.5	%
Advances		5,097,179			4,511,651			2,881,498			13.0	%		76.9	%
Discounted and purchased notes		4,240,993			3,971,924			3,412,091			6.8	%		24.3	%
Consumer Mortgages		877,775			757,937			915,156			15.8	%		-4.1	%
Car secured loans		2,479,398			2,185,459			1,651,776			13.4	%		50.1	%
Personal loans		4,772,798			4,451,673			3,761,698			7.2	%		26.9	%
Credit cards		4,729,243			3,921,214			3,448,437			20.6	%		37.1	%
Loans to financial sector		1,263,224			1,191,622			1,045,641			6.0	%		20.8	%
Other loans		4,921,690			4,568,756			5,829,606			7.7	%		-15.6	%
Unaccrued interest		(73,413	)		(63,665	)		(89,332	)		15.3	%		-17.8	%
Adjustment and accrued interest & exchange differences receivable		647,101			554,827			418,262			16.6	%		54.7	%
Less: Allowance for loan losses		(523,857	)		(485,030	)		(444,973	)		8.0	%		17.7	%
Loans to public sector		35,067			33,293			46,027			5.3	%		-23.8	%
Loans to public sector		8,956			8,587			25,045			4.3	%		-64.2	%
Adjustment and accrued interest & exchange differences receivable		26,111			24,706			20,982			5.7	%		24.4	%
Net total loans		28,467,198			25,599,661			22,875,887			11.2	%		24.4	%

Asset Quality

BBVA Francés has maintained excellent asset quality ratios, despite the increase in the non-performing loan portfolio.

The asset quality ratio (non-performing loans/total loans) was 0.65% as of December 31, 2012 whilst the coverage ratio (provisions/non-performing loans) reached 278.79%.


Asset quality ratios	Quarter ended									D % quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Non-performing loans (1)		187,903			184,103			105,409			2.1	%		78.3	%
Allowance for loan losses		(523,857	)		(485,030	)		(444,973	)		8.0	%		17.7	%
Non-performing loans/net total loans		0.65	%		0.71	%		0.45	%		-8.2	%		43.4	%
Non-performing private loans/net private loans		0.65	%		0.71	%		0.45	%		-8.2	%		43.3	%
Allowance for loan losses/non-performing loans		278.79	%		263.46	%		422.14	%		5.8	%		-34.0	%
Allowance for loan losses/net total loans		1.81	%		1.86	%		1.91	%		-2.8	%		-5.3	%

(1)	Non-performing loans include: all loans to borrow ers classified as “Problem”, “Deficient Servicing”, “High Insolvency Risk”, “Difficult Recovery”, “Irrecoverable” and “Irrecoverable for Technical Decision” according to the new Central Bank debtor classification system.

The following table shows the evolution of provisions for loan losses, including charges relating to

transactions recorded under “Other receivables” from financial intermediation.


Evolution of provisions	Quarter ended									D % quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			12-31-11
Balance at the beginning of the quarter		488,667			466,523			433,224			4.7	%		12.8	%
Increase / decrease		100,226			78,718			40,197			27.3	%		149.3	%
Provision increase / decrease - Exchange rate difference		1,456			1,174			1,180			24.0	%		-23.4	%
Decrease		(63,042	)		(57,748	)		(25,859	)		9.2	%		143.8	%
Balance at the end of the quarter		527,307			488,667			448,742			7.9	%		17.5	%

Deposits

Total deposits reached AR$ 34,136.8 million as of December 31, 2012, an increase of 16.8% and 9.9% compared to the same quarter of 2011 and to the previous quarter, respectively.

Both sight accounts as well as time deposits grew during the year, such increase was partially offset by the decrease in deposits denominated in foreign currency. Sight accounts and time deposits in pesos grew 37.6% and 18.5% respectively during 2012.

- 11 -

Deposits denominated in foreign currency decreased 33.6% in the last twelve months, this trend was reversed and in the fourth quarter when it grew 5.6%.

By the end of December 31, 2012 deposits denominated in foreign currency reached AR$ 3,514.3 million (equivalent to US$ 713.4 million), representing 10.3% of the Bank’s total deposits.


Total deposits	Quarter ended						D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12		09-30-12		12-31-11		09-30-12			06-30-11
Total deposits		34,136,835		31,053,809		29,217,483		9.9	%		16.8	%
Current accounts		10,157,141		8,449,245		6,755,406		20.2	%		50.4	%
Peso denominated		10,150,710		8,446,068		6,749,253		20.2	%		50.4	%
Foreign currency		6,431		3,177		6,153		102.4	%		4.5	%
Saving accounts		9,803,893		8,939,251		9,489,761		9.7	%		3.3	%
Peso denominated		7,672,376		6,905,299		6,207,103		11.1	%		23.6	%
Foreign currency		2,131,517		2,033,952		3,282,658		4.8	%		-35.1	%
Time deposits		13,555,151		12,914,882		12,234,070		5.0	%		10.8	%
Peso denominated		12,368,502		11,822,639		10,436,257		4.6	%		18.5	%
CER adjusted time deposits		729		826		996		-11.7	%		-26.8	%
Foreign currency		1,185,920		1,091,417		1,796,817		8.7	%		-34.0	%
Investment Accounts		6,929		141,063		220,527		-95.1	%		-96.9	%
Peso denominated		6,929		141,063		220,527		-95.1	%		-96.9	%
Other		613,721		609,368		517,719		0.7	%		18.5	%
Peso denominated		423,254		410,675		308,411		3.1	%		37.2	%
Foreign currency		190,467		198,693		209,308		-4.1	%		-9.0	%
*Rescheduled deposits + CEDROS ()**		28,523		30,186		38,285		-5.5	%		-25.5	%
Peso denominated		28,523		30,186		38,285		-5.5	%		-25.5	%
Total deposits + Rescheduled deposits & CEDROS		34,165,358		31,083,995		29,255,768		9.9	%		16.8	%

(*)	In August 2005, the payments of rescheduled deposits were finalized, only those deposits that have a pending court case remain outstanding.

Other Funding Sources

Other funding sources totaled AR$ 1,276.5 million as of December 31, 2012, maintaining in similar levels to those recorded during the quarters ended December 31, 2010 and September 30, 2011.

In the last twelve months, the Bank and PSA Finance issued negotiable obligations, partially offset by the decrease in dollar funding lines.

In August 2011, PSA Finance issued its Series 3 Notes due August 2013 for AR$ 70 million. Then, it issued the Series 5 for AR$ 70 million at 18 months, the Series 6 for AR$ 30

million at 9 months, the Series 7 for AR$ 70 million and the Series 8 for AR$ 30 million, both at 9 months.

In November, two new series were issued, Series 9 for AR$ 80 million at 24 months and Series 10 for AR$ 13.4 million.

On January 2012, BBVA Francés placed the second issuance of its Series 2 of Negotiable Obligations, which achieved a high level of demand and allowed the expansion of the issue amount from the initially planned AR$ 125 million to AR$ 148.9 million.

20.8% of the balances shown in the table below were denominated in foreign-currency at the end of December 2012.


Other funding sources	Quarter ended						D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12		09-30-12		12-31-11		09-30-12			12-31-11
Lines from other banks		626,472		721,085		919,520		-13.1	%		-31.9	%
Senior Bonds		649,993		614,093		294,393		5.8	%		120.8	%
Total other funding sources		1,276,465		1,335,178		1,213,913		-4.4	%		5.2	%

- 12 -

Capitalization

As of December 31, 2012, the Bank’s total shareholder’s equity totaled AR$ 5,131.9 million; representing an

excess of AR$ 1,592.6 million over the BCRA capital requirements. On the same date, the capital ratio reached 17.5% of assets adjusted to risk.


Capitalization	Quarter ended						D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12		09-30-12		12-31-11		09-30-12			12-31-11
Capital Stock		536,878		536,878		536,878		0.0	%		0.0	%
Issuance premiums		182,511		182,511		182,511		0.0	%		0.0	%
Adjustments to stockholders equity		312,979		312,979		312,979		0.0	%		0.0	%
Subtotal		1,032,368		1,032,368		1,032,368		0.0	%		0.0	%
Reserves on Profits		2,835,889		2,835,889		1,042,021		0.0	%		172.2	%
Unappropriated retained earnings		1,263,679		988,745		1,793,868		27.8	%		-29.6	%
Total stockholders’ equity		5,131,936		4,857,002		3,868,257		5.7	%		32.7	%


Central Bank Requirements	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			06-30-11
Central Bank Minimum Capital Requirements		3,697,327			3,228,016			2,544,761			14.5	%		45.3	%
Central Bank Minimum Capital Requirements (a, b)		3,591,346			3,130,773			2,381,147			14.7	%		50.8	%
Market Risk		—			—			72,925			—			-100.0	%
Increase in capital requirements related to custody		105,981			97,243			90,689			9.0	%		16.9	%
a) Central Bank Minimum Capital Requirements		3,591,346			3,130,773			2,381,147			14.7	%		50.8	%
Allocated to Asset at Risk		2,197,282			1,975,783			1,788,018			11.2	%		22.9	%
Allocated to Immobilized Assets		187,326			159,669			145,887			17.3	%		28.4	%
Interest Rate Risk		430,744			386,342			373,642			11.5	%		15.3	%
Loans to Public Sector and Securities in Investment		73,005			72,406			73,600			0.8	%		-0.8	%
Market Risk		37,238			48,801			—			-23.7	%		—
Operational Risk		665,751			487,772			—			36.5	%		—
b) Minimum capital required for Pension Funds (AFJPs) to act as securities custodian and registrar of mortgage notes		423,923			400,000			400,000			6.0	%		6.0	%
5% of the securities in custody and book-entry notes		423,923			400,000			400,000			6.0	%		6.0	%
Bank Capital Calculated under Central Bank Rules		5,289,909			4,911,507			3,825,125			7.7	%		38.3	%
Core Capital		3,868,256			3,868,256			2,862,679			0.0	%		35.1	%
Minority Interest		263,887			228,866			164,209			15.3	%		60.7	%
Supplemental Capital		1,288,507			927,485			887,444			38.9	%		45.2	%
Deductions		(130,741	)		(113,100	)		(89,207	)		15.6	%		46.6	%
Excess over Required Capital		1,592,582			1,683,491			1,280,364			-5.4	%		24.4	%
Capital Ratio (Central Bank rules)		17.5	%		18.1	%		15.5	%		-3.2	%		13.0	%
Excess over Required Capital as a % of Shareholders’ Equity		31.0	%		34.7	%		33.1	%		-10.5	%		-6.2	%

Additional Information


	Quarter ended									D% quarter ended 12/31/12 vs quarter ended
(in thousands of pesos except percentages)	12-31-12			09-30-12			12-31-11			09-30-12			06-30-11
Exchange rate		4.92			4.69			4.30			4.8	%		14.3	%
Quarterly CER adjustment		2.68	%		2.41	%		2.12	%		11.2	%		26.2	%

- 13 -

This press release contains or may contain certain forward-looking statements within the meaning of the United States Securities Litigation Reform Act of 1995, including, among other things, concerning the prospects of the Argentine economy, BBVA Francés’ earnings, business plans, cost-reduction plans, and capitalization plan, and trends affecting BBVA Francés’ financial condition or results of operations. Any forward-looking statements included in this press release are based on current expectations and estimates, but actual results and events may differ materially from anticipated future results and events. Certain factors which could cause the actual results and events to differ materially from the expected results or events include: (1) changes in domestic or international stock market prices, exchange rates or interest rates; (2) macroeconomic, regulatory, political or governmental changes; (3) changes in the markets for BBVA Francés’ products and services; (4) increased competition; (5) changes in technology; or (6) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of BBVA Francés. Additional factors that could cause the actual results or events to differ materially from the expected results or events are described in the reports filed by BBVA Francés with the United States Securities and Exchange Commission (SEC), including, but not limited to, BBVA Francés’ annual report on Form 20-F and exhibits thereto. BBVA Francés does not undertake to revise or update any of the information contained herein under any circumstances, including if at any moment following dissemination of such information it is no longer accurate or complete.

- 14 -

Conference Call

A conference call to discuss fourth quarter earnings will be held on Friday, February 8, 2013, at 12:00 PM New York time – 14.00 PM Buenos Aires time. If you are interested in participating, please dial (888) 428 9480 within the U.S. or +1 (719) 325 2494 outside the U.S. at least 5 minutes prior to our conference. Confirmation code: 3957134

Internet

This press release is also available at BBVA Francés web site:

www.bbvafrances.com.ar

Contacts

Vanesa Bories

Investor Relations

(5411) 4346-4000 ext. 11622

vbories@bbva.com

Cecilia Acuña

Investor Relations

(5411) 4341-5036

ceciliaviviana@bbva.com

Paula Bennati

Investor Relations

(5411) 4348-0000 ext. 25917

Paula.bennati@bbva.com

- 15 -

BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar: by the equity method)

BALANCE SHEET (in thousands of pesos)


	12-31-12			09-30-12			06-30-12			12-31-11
Cash and due from banks		8,614,801			6,429,900			6,363,409			6,353,392
Government and Private Securities		4,056,904			5,198,845			5,760,412			5,547,755
Holdings booked at fair value		1,829,927			1,834,263			1,744,902			2,081,053
Holdings booked at amortized cost		164			164			164			164
Reverse repo w/Central Bank		—			—			—			—
Listed Private Securities		25,325			21,171			20,555			18,750
Bills and Notes from the Central Bank		2,201,676			3,343,434			3,994,977			3,447,972
Less: Allowances		(188	)		(187	)		(186	)		(184	)
Loans		28,467,198			25,599,661			23,770,542			22,875,887
Loans to the private & financial sector		28,432,131			25,566,368			23,738,521			22,829,860
Advances		5,097,179			4,511,651			3,933,575			2,881,498
Discounted and purchased notes		4,240,993			3,971,924			3,540,496			3,412,091
Secured with mortgages		877,775			757,937			705,128			915,156
Car secured loans		2,479,398			2,185,459			1,964,630			1,651,776
Personal loans		4,772,798			4,451,673			4,177,846			3,761,698
Credit cards		4,729,243			3,921,214			3,773,470			3,448,437
Loans to financial sector		1,263,224			1,191,622			1,122,126			1,045,641
Other loans		4,921,690			4,568,756			4,536,017			5,829,606
Less: Unaccrued interest		(73,413	)		(63,665	)		(55,622	)		(89,332	)
Plus: Interest & FX differences receivable		647,101			554,827			503,844			418,262
Less: Allowance for loan losses		(523,857	)		(485,030	)		(462,989	)		(444,973	)
Public Sector loans		35,067			33,293			32,021			46,027
Principal		8,956			8,587			8,571			25,045
Plus: Interest & FX differences receivable		26,111			24,706			23,450			20,982
Other banking receivables		700,925			1,702,090			1,161,129			1,948,285
Repurchase agreements		—			600,758			400,769			1,077,218
Unlisted private securities		15,973			5,698			3,663			13,424
Unlisted Private securities :Trustees		—			—			—			—
Other banking receivables		688,402			1,099,271			760,231			861,412
Less: provisions		(3,450	)		(3,637	)		(3,534	)		(3,769	)
Investments in other companies		154,974			148,962			126,097			137,222
Intangible assets		117,331			103,021			95,619			80,978
Organization and development charges		177,331			103,021			95,619			80,978
Other assets		2,575,343			2,320,028			2,211,690			2,037,488
Total Assets		44,687,476			41,502,507			39,488,898			38,981,007
Deposits		34,165,358			31,083,995			30,049,537			29,255,768
Current accounts		10,157,141			8,449,245			8,369,667			6,755,406
Saving accounts		9,803,893			8,939,251			9,136,299			9,489,761
Time deposits		13,555,151			12,914,882			11,736,105			12,234,070
Investment Accounts		6,929			141,063			143,864			220,527
Rescheduled deposits CEDROS		28,523			30,186			31,665			38,285
Other deposits		613,721			609,368			631,937			517,719
Other banking Liabilities		3,285,123			3,863,242			3,483,361			4,268,328
Other provisions		558,605			511,491			489,715			395,000
Other contingencies		558,125			511,022			489,248			394,533
Guarantees		480			469			467			467
Other liabilities		1,436,150			1,086,165			935,564			1,120,901
Minority interest		110,304			100,612			91,093			72,753
Total Liabilities		39,555,540			36,645,505			35,049,270			35,112,750
Total Stockholders´ equity		5,131,936			4,857,002			4,439,628			3,868,257
Total liabilities + stockholders’ equity		44,687,476			41,502,507			39,488,898			38,981,007

- 16 -

BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar: by the equity method)

INCOME STATEMENT (in thousands of pesos)


	12-31-12			09-30-12			06-30-12			03-31-12
Financial income		1,549,630			1,503,507			1,360,177			1,291,879
Interest on Cash and Due from Banks		—			—			—			—
Interest on Loans Granted to the Financial Sector		66,921			66,725			59,534			57,392
Interest on Overdraft		225,872			197,454			149,897			152,667
Interest on Discounted and purchased notes		159,626			134,708			114,702			134,566
Interest on Mortgages		32,655			28,487			28,404			30,337
Interest on Car Secured Loans		120,125			106,333			95,012			82,829
Interest on Credit Card Loans		177,725			150,475			156,795			140,697
Interest on Financial Leases		44,490			40,354			38,740			38,191
Interest on Other Loans		459,841			424,315			388,472			364,656
From Other Banking receivables		9,467			8,835			8,297			9,777
Interest on Government Guaranteed Loans Decree 1387/01		1,969			1,807			1,598			1,014
Income from Securities and Short Term Investments		127,312			202,599			158,648			148,582
Net Income from options		—			—			(766	)		1,021
CER		34,189			29,635			33,152			32,144
Foreign exchange difference		43,793			52,371			49,746			44,102
Other		45,645			59,409			77,946			53,904
Financial expenses		0			-520,731			-443,442			-513,980
Interest on Current Account Deposits		(426,816	)		—			—			—
Interest on Saving Account Deposits		(49,824	)		(2,602	)		(2,661	)		(2,866	)
Interest on Time Deposits		(1,238	)		(383,913	)		(321,882	)		(397,379	)
Interest on Other Banking Liabilities		(34	)		(43,384	)		(38,221	)		(38,377	)
Other interests (includes Central Bank)		(13,745	)		(884	)		(490	)		(3,273	)
CER		—			(33	)		(42	)		(48	)
Bank Deposit Guarantee Insurance system mandatory contributions		(87,722	)		(13,197	)		(13,003	)		(12,684	)
Mandatory contributions and taxes on interest income		966,652			(76,268	)		(66,826	)		(57,925	)
Other		(100,226	)		(450	)		(317	)		(1,428	)
Net financial income		516,632			982,776			916,735			777,899
Provision for loan losses		—			(78,718	)		(18,434	)		(58,881	)
Income from services, net of other operating expenses		(861,310	)		474,675			437,969			417,191
Administrative expenses		(930	)		(770,844	)		(720,297	)		(687,280	)
Income (loss) from equity investments		12,056			28,992			17,524			11,246
Net Other income		(51,456	)		(6,338	)		(82,885	)		42,500
Income (loss) from minority interest		(11,644	)		(9,521	)		(9,601	)		(7,108	)
Income before tax		470,704			621,022			541,011			495,567
Income tax		(195,770	)		(203,648	)		(210,158	)		(255,049	)
Net income		274,934			417,374			330,853			240,518

- 17 -

BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar: by the equity method)

INCOME STATEMENT (in thousands of pesos)


	12-31-12			09-30-12			06-30-12			12-31-11
Financial income		1,549,630			1,503,507			1,360,177			1,463,154
Interest on Cash and Due from Banks		—			—			—			—
Interest on Loans Granted to the Financial Sector		66,921			66,725			59,534			50,793
Interest on Overdraft		225,872			197,454			149,897			136,402
Interest on Discounted and purchased notes		159,626			134,708			114,702			118,987
Interest on Mortgages		32,655			28,487			28,404			34,447
Interest on Car Secured Loans		120,125			106,333			95,012			65,858
Interest on Credit Card Loans		177,725			150,475			156,795			111,347
Interest on Financial Leases		44,490			40,354			38,740			36,045
Interest on Other Loans		459,841			424,315			388,472			349,223
From Other Banking receivables		9,467			8,835			8,297			10,542
Interest on Government Guaranteed Loans Decree 1387/01		1,969			1,807			1,598			6,218
Income from Securities and Short Term Investments		127,312			202,599			158,648			381,062
Net Income from options		—			—			(766	)		454
CER		34,189			29,635			33,152			27,837
Foreign exchange difference		43,793			52,371			49,746			51,336
Other		45,645			59,409			77,946			82,603
Financial expenses		(582,978	)		(520,731	)		(443,442	)		-487,330
Interest on Current Account Deposits		—			—			—			—
Interest on Saving Account Deposits		(3,019	)		(2,602	)		(2,661	)		(2,755	)
Interest on Time Deposits		(426,816	)		(383,913	)		(321,882	)		(380,253	)
Interest on Other Banking Liabilities		(49,824	)		(43,384	)		(38,221	)		(32,707	)
Other interests (includes Central Bank)		(1,238	)		(884	)		(490	)		(2,480	)
CER		(34	)		(33	)		(42	)		(39	)
Bank Deposit Guarantee Insurance system mandatory contributions		(13,745	)		(13,197	)		(13,003	)		(12,410	)
Mandatory contributions and taxes on interest income		(87,722	)		(76,268	)		(66,826	)		(52,488	)
Other		(580	)		(450	)		(317	)		(4,198	)
Net financial income		966,652			982,776			916,735			975,824
Provision for loan losses		(100,226	)		(78,718	)		(18,434	)		(40,197	)
Income from services, net of other operating expenses		516,632			474,675			437,969			402,072
Administrative expenses		(861,310	)		(770,844	)		(720,297	)		(651,417	)
Income (loss) from equity investments		12,056			28,992			17,524			4,605
Net Other income		(51,456	)		(6,338	)		(82,885	)		(10,476	)
Income (loss) from minority interest		(11,644	)		(9,521	)		(9,601	)		(5,868	)
Income before tax		470,704			621,022			541,011			674,543
Income tax		(195,770	)		(203,648	)		(210,158	)		(176,161	)
Net income		274,934			417,374			330,853			498,382

- 18 -

BBVA Banco Francés S.A. and subsidiaries (Grupo Consolidar consolidated on a line by line basis)


	12-31-12		09-30-12		06-30-12		12-31-11
Cash and due from banks		8,614,889		6,429,982		6,363,464		6,353,428
Government Securities		4,101,846		5,204,688		5,800,575		5,565,029
Loans		28,493,431		25,651,259		23,812,541		22,875,885
Other Banking Receivables		700,925		1,702,139		1,161,129		1,948,285
Assets Subject to Financial Leasing		1,110,234		954,365		913,071		907,087
Investments in other companies		146,001		138,355		115,722		126,288
Other assets		1,617,253		1,503,384		1,426,097		1,229,643
Total Assets		44,784,579		41,584,172		39,592,599		39,005,645
Deposits		34,165,053		31,067,405		30,049,449		29,165,704
Other banking liabilities		3,285,123		3,863,348		3,484,725		4,268,519
Minority interest		117,981		109,689		99,970		82,109
Other liabilities		2,084,486		1,686,728		1,518,827		1,621,056
Total Liabilities		39,652,643		36,727,170		35,152,971		35,137,388
Total Stockholders’ Equity		5,131,936		4,857,002		4,439,628		3,868,257
Stockholders’ Equity + Liabilities		44,784,579		41,584,172		39,592,599		39,005,645

Net Income


	12-31-12			09-30-12			06-30-12			12-31-11
Net Financial Income		969,424			985,726			919,984			982,859
Provision for loan losses		(100,226	)		(78,718	)		(18,434	)		(40,197	)
Net Income from Services		516,632			474,675			437,969			402,072
Administrative expenses		(867,385	)		(775,263	)		(726,522	)		(666,116	)
Net Other Income		(37,446	)		24,323			(63,472	)		(1,279	)
Income Before Tax		480,999			630,743			549,525			677,339
Income Tax		(195,821	)		(203,648	)		(209,631	)		(176,337	)
Net income		285,178			427,095			339,894			501,002
Minoritary Interest		(10,244	)		(9,721	)		(9,041	)		(2,620	)
Net income for Quarter		274,934			417,374			330,853			498,382

- 19 -

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BBVA Banco Francés S.A.

Date: February 8, 2013

/s/ Ignacio Sanz y Arcelus

Ignacio Sanz y Arcelus

Chief Financial Officer