Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2022 |
Entity File Number | 001-37777 |
Entity Registrant Name | GRUPO SUPERVIELLE S.A. |
Entity Incorporation, State or Country Code | C1 |
Entity Address, Address Line One | Bartolomé Mitre 434 |
Entity Address, City or Town | Buenos Aires |
Entity Address, Postal Zip Code | C1036AAH |
Entity Address, Country | AR |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0001517399 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Shell Company Report | false |
Document Transition Report | false |
Auditor Name | Price Waterhouse & Co. S.R.L. |
Auditor Firm ID | 1349 |
Auditor Location | Buenos Aires, Argentina |
Class B Shares | |
Document Information [Line Items] | |
Title of 12(b) Security | Class B shares of Grupo Supervielle S.A. |
Trading Symbol | SUPV |
Security Exchange Name | NYSE |
Entity Common Stock, Shares Outstanding | 382,673,523 |
Class A ordinary shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 61,738,188 |
American Depositary Shares | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares, each representing 5 Class B shares of Grupo Supervielle S.A. |
Trading Symbol | SUPV |
Security Exchange Name | NYSE |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | Bartolomé Mitre 434 |
Entity Address, City or Town | Buenos Aires |
Entity Address, Postal Zip Code | C1036AAH |
City Area Code | 11 |
Local Phone Number | 4340-3181 |
Entity Address, Country | AR |
Contact Personnel Name | Mariano Biglia |
Contact Personnel Email Address | mariano.biglia@supervielle.com.ar |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 48,399,468 | $ 63,452,161 |
Cash | 19,122,146 | 24,523,137 |
Financial institutions and correspondents | ||
Argentine Central Bank | 27,184,409 | 35,324,768 |
Other local financial institutions | 2,064,305 | 2,353,797 |
Others | 28,608 | 1,250,459 |
Debt Securities at fair value through profit or loss | 22,384,677 | 38,486,623 |
Derivatives | 295,555 | 432,164 |
Reverse Repo transactions | 21,581,438 | 83,468,057 |
Other financial assets | 8,107,119 | 27,120,979 |
Loans and other financing | 235,591,198 | 302,853,393 |
To the non-financial public sector | 277,702 | 44,292 |
To the financial sector | 644,533 | 149,663 |
To the Non-Financial Private Sector and Foreign residents | 234,668,963 | 302,659,438 |
Other debt securities | 269,735,051 | 153,750,726 |
Financial assets pledged as collateral | 14,468,665 | 16,635,209 |
Current income tax assets | 976,073 | 1,714,745 |
Inventories | 67,090 | 266,428 |
Investments in equity instruments | 502,560 | 514,799 |
Property, plant and equipment | 18,373,792 | 21,495,256 |
Investment Property | 16,903,052 | 16,943,351 |
Intangible assets | 22,275,852 | 22,249,482 |
Deferred income tax assets | 12,196,868 | 6,301,474 |
Other non-financial assets | 5,008,839 | 4,793,662 |
TOTAL ASSETS | 696,867,297 | 760,478,509 |
LIABILITIES | ||
Deposits | 547,516,935 | 561,896,707 |
Non-financial public sector | 27,843,116 | 22,352,551 |
Financial sector | 101,430 | 76,162 |
Non-financial private sector and foreign residents | 519,572,389 | 539,467,994 |
Liabilities at fair value through profit or loss | 2,139,170 | 3,999,525 |
Other financial liabilities | 18,105,482 | 46,322,290 |
Financing received from the Argentine Central Bank and other financial institutions | 5,529,676 | 12,179,537 |
Unsubordinated debt securities | 561,409 | 2,063,327 |
Provisions | 1,691,656 | 1,779,769 |
Deferred income tax liabilities | 181,543 | 120,258 |
Other non-financial liabilities | 28,795,393 | 31,700,398 |
TOTAL LIABILITIES | 604,521,264 | 660,061,811 |
SHAREHOLDERS' EQUITY | ||
Capital stock | 444,411 | 456,722 |
Paid in capital | 84,849,949 | 84,849,949 |
Inflation Adjustments of capital stock | 8,794,280 | 9,614,506 |
Treasury shares | 12,311 | |
Inflation adjustments of treasury shares | 820,226 | |
Cost of Treasury shares | (1,383,270) | |
Reserves | 6,200,416 | 9,029,804 |
Retained earnings | (5,122,316) | (4,075,101) |
Other comprehensive income | 2,685,921 | 3,839,887 |
Net loss for the year | (5,028,955) | (3,378,763) |
Shareholders' Equity attributable to owners of the parent company | 92,272,973 | 100,337,004 |
Shareholders' Equity attributable to non-controlling interests | 73,060 | 79,694 |
TOTAL SHAREHOLDERS' EQUITY | $ 92,346,033 | $ 100,416,698 |
Consolidated Income Statement
Consolidated Income Statement - ARS ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Consolidated Income Statement | |||
Interest income | $ 251,873,826 | $ 201,478,253 | $ 190,233,183 |
Interest expenses | (165,506,341) | (117,848,917) | (84,027,323) |
Net interest income | 86,367,485 | 83,629,336 | 106,205,860 |
Net income from financial instruments (NIFFI) at fair value through profit or loss | 18,246,719 | 17,316,082 | 9,748,608 |
Result from derecognition of assets measured at amortized cost | 491,837 | 495,139 | 1,931,793 |
Exchange rate differences on gold and foreign currency | 2,742,959 | 1,933,094 | 3,130,019 |
Net Income From Financial instruments And Exchange Rate Differences | 21,481,515 | 19,744,315 | 14,810,420 |
Net Financial Income | 107,849,000 | 103,373,651 | 121,016,280 |
Services Fee Income | 30,339,068 | 32,462,798 | 33,794,603 |
Services Fee Expense | (10,723,155) | (9,896,431) | (10,432,762) |
Income from insurance activities | 4,526,372 | 4,424,232 | 4,914,478 |
Net Service Fee Income | 24,142,285 | 26,990,599 | 28,276,319 |
Subtotal | 131,991,285 | 130,364,250 | 149,292,599 |
Results from exposure to changes in the purchasing power of money | (17,749,063) | (15,208,972) | (12,614,594) |
Other operating income | 10,491,417 | 10,473,784 | 11,112,493 |
Impairment losses on financial assets | (14,171,016) | (17,394,877) | (25,330,344) |
Net operating income | 110,562,623 | 108,234,185 | 122,460,154 |
Personnel expenses | 53,892,546 | 49,850,151 | 53,444,350 |
Administration expenses | 28,562,821 | 29,911,621 | 30,339,034 |
Depreciation and impairment of non-financial assets | 10,098,597 | 8,230,289 | 7,077,240 |
Other operating expenses | 26,629,090 | 23,079,185 | 19,331,429 |
(Loss)/ Income before taxes | (8,620,431) | (2,837,061) | 12,268,101 |
Income tax | 3,586,014 | (545,241) | (1,974,983) |
Net (Loss) / income for the year | (5,034,417) | (3,382,302) | 10,293,118 |
Net (Loss) / income for the year attributable to owners of the parent company | (5,028,955) | (3,378,763) | 10,290,495 |
Net (Loss) / income for the year attributable to non-controlling interests | (5,462) | (3,539) | 2,623 |
NUMERATOR | |||
Net (Loss) / income for the year attributable to owners of the parent company | (5,028,955) | (3,378,763) | 10,290,495 |
Net income attributable to owners of the parent company adjusted by dilution | $ (5,028,955) | $ (3,378,763) | $ 10,290,495 |
DENOMINATOR | |||
Weighted average of ordinary shares | 454,274 | 456,722 | 456,722 |
Weighted average of number of ordinary shares issued of the period adjusted by dilution effect | 454,274 | 456,722 | 456,722 |
Basic Income per share | $ (11.07) | $ (7.40) | $ 22.53 |
Diluted Income per share | $ (11.07) | $ (7.40) | $ 22.53 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Consolidated Statement of Comprehensive Income | |||
Net (loss) / income for the year | $ (5,034,417) | $ (3,382,302) | $ 10,293,118 |
Components of Other Comprehensive Income not to be reclassified to profit or loss | |||
Revaluation surplus of property, plant and equipment | (838,547) | 204,632 | 2,406,430 |
Income tax | 293,491 | (419,844) | (702,692) |
Net revaluation surplus of property, plant and equipment | (545,056) | (215,212) | 1,703,738 |
(loss) / income from equity instruments at fair value through other comprehensive income | (47,005) | 7,694 | |
Income tax | 16,452 | 1,196 | |
Net (loss) / income from equity instruments at fair value through other comprehensive income | (30,553) | 8,890 | |
Total Other Comprehensive Income not to be reclassified to profit or loss | (575,609) | (206,322) | 1,703,738 |
Components of Other Comprehensive Income to be reclassified to profit or loss | |||
Loss from financial instruments at fair value through other comprehensive income | (1,015,616) | 234,336 | 959,101 |
Income tax | 368,996 | (133,462) | (299,791) |
Net loss from financial instruments at fair value through other comprehensive income | (646,620) | 100,874 | 659,310 |
Foreign currency translation adjustment | 61,052 | 789 | |
Foreign currency translation adjustment for the fiscal year | 61,052 | 789 | |
Other Comprehensive Loss to be reclassified to profit or loss | (585,568) | 101,663 | 659,310 |
Other Comprehensive (loss) / income | (1,161,177) | (104,659) | 2,363,048 |
Other comprehensive (loss) / income attributable to parent company | (1,159,949) | (104,525) | 2,360,761 |
Other comprehensive (loss) / income attributable to non-controlling interest | (1,228) | (134) | 2,287 |
Comprehensive (loss) / income | (6,195,594) | (3,486,961) | 12,656,166 |
Comprehensive (loss) / income for the year attributable to owners of the parent company | (6,188,904) | (3,483,288) | 12,651,256 |
Comprehensive (loss) / income for the year attributable to non-controlling interest | $ (6,690) | $ (3,673) | $ 4,910 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity - ARS ($) $ in Thousands | Capital stock | Inflation adjustment of capital Stock | Paid-in capital | Treasury shares | Inflation adjustment of treasury shares | Cost of treasury shares | Inflation adjustment of cost of treasury shares | Legal reserve | Other reserves. | Retained earnings | Other comprehensive income. | Total shareholders' equity attributable to parent company [member] | Total Shareholders' equity attributable to non-controlling interests [member] | Total |
Beginning balance at Dec. 31, 2019 | $ 456,722 | $ 9,614,506 | $ 97,838,441 | $ 562,471 | $ 41,310,811 | $ (57,636,427) | $ 1,583,651 | $ 93,730,175 | $ 78,457 | $ 93,808,632 | ||||
Statement | ||||||||||||||
Absorption of negative retained earnings | (12,988,492) | (562,471) | (56,796,205) | 70,347,168 | ||||||||||
Distribution of retained earnings by the shareholders' meeting | ||||||||||||||
- Other reserves | 17,043,911 | (17,043,911) | ||||||||||||
- Dividend distribution | (1,558,517) | (1,558,517) | (1,558,517) | |||||||||||
Net (loss) / income for the year | 10,290,495 | 10,290,495 | 2,623 | 10,293,118 | ||||||||||
Other comprehensive (loss) / income for the year | 2,360,761 | 2,360,761 | 2,287 | 2,363,048 | ||||||||||
Ending balance at Dec. 31, 2020 | 456,722 | 9,614,506 | 84,849,949 | 5,957,325 | 3,944,412 | 104,822,914 | 83,367 | 104,906,281 | ||||||
Distribution of retained earnings by the shareholders' meeting | ||||||||||||||
- Other reserves | 1,035,976 | 7,993,828 | (9,029,804) | |||||||||||
- Dividend distribution | (1,002,622) | (1,002,622) | (1,002,622) | |||||||||||
Net (loss) / income for the year | (3,378,763) | (3,378,763) | (3,539) | (3,382,302) | ||||||||||
Other comprehensive (loss) / income for the year | (104,525) | (104,525) | (134) | (104,659) | ||||||||||
Ending balance at Dec. 31, 2021 | 456,722 | 9,614,506 | 84,849,949 | 1,035,976 | 7,993,828 | (7,453,864) | 3,839,887 | 100,337,004 | 79,694 | 100,416,698 | ||||
Distribution of retained earnings by the shareholders' meeting | ||||||||||||||
- Dividend distribution | (491,857) | (491,857) | (491,857) | |||||||||||
Other movements | (5,983) | 5,983 | ||||||||||||
Share premium in subsidiaries | 56 | 56 | ||||||||||||
Constitution of reserves | (2,337,531) | 2,337,531 | ||||||||||||
Acquisition of Treasury Shares | (12,311) | (820,226) | $ 12,311 | $ 820,226 | $ (123,776) | $ (1,259,494) | (1,383,270) | (1,383,270) | ||||||
Net (loss) / income for the year | (5,028,955) | (5,028,955) | (5,462) | (5,034,417) | ||||||||||
Other comprehensive (loss) / income for the year | (1,159,949) | (1,159,949) | (1,228) | (1,161,177) | ||||||||||
Ending balance at Dec. 31, 2022 | $ 444,411 | $ 8,794,280 | $ 84,849,949 | $ 12,311 | $ 820,226 | $ (123,776) | $ (1,259,494) | $ 1,035,976 | $ 5,164,440 | $ (10,151,271) | $ 2,685,921 | $ 92,272,973 | $ 73,060 | $ 92,346,033 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flow - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flow from operating activities | |||
Net (loss) / income for the year | $ (5,034,417) | $ (3,382,302) | $ 10,293,118 |
Adjustments to obtain flows from operating activities: | |||
Income tax | (3,586,014) | 545,241 | 1,974,983 |
Depreciation and Impairment of non-financial assets | 10,098,597 | 8,230,289 | 7,077,240 |
Impairment losses on financial assets | 14,171,016 | 17,394,877 | 25,330,344 |
Other adjustments: | |||
Exchange rate difference on gold and foreign currency | (2,742,959) | (1,933,094) | (3,130,019) |
Interest from loans and other financings | (251,873,826) | (201,478,253) | (190,233,183) |
Interest from deposits and financing received | 165,506,341 | 117,848,917 | 84,027,323 |
Net income from financial instruments at fair value through profit or loss | (18,246,719) | (17,316,082) | (9,748,608) |
Fair value measurement of investment properties | 803,858 | 859,077 | 271,846 |
Results from exposure to changes in the purchasing power of money | 17,749,063 | 15,208,972 | 12,614,594 |
Interest on liabilities for financial leases | 499,393 | 523,629 | 608,733 |
Provisions reversed | (3,252,298) | (3,338,184) | (1,683,229) |
Result from derecognition of financial assets measured at amortized cost | (491,837) | (495,139) | (1,931,793) |
(Increases) / decreases from operating assets: | |||
Debt securities at fair value through profit or loss | 19,200,104 | 23,366,025 | (10,892,117) |
Derivatives | 136,609 | (8,935) | 607,854 |
Reverse Repo transactions | 61,886,619 | (17,739,768) | (65,728,288) |
Loans and other financing | |||
To the non-financial public sector | (233,410) | 24,893 | 46,388 |
To the other financial entities | (494,870) | (114,198) | 222,808 |
To the non-financial sector and foreign residents | 308,492,953 | 194,544,626 | 205,411,764 |
Other debt securities | (115,984,325) | (33,612,588) | (78,274,000) |
Financial assets pledged as collateral | 2,166,544 | (2,213,523) | 6,928,384 |
Investments in equity instruments | (143,826) | ||
Other assets | 15,786,599 | (15,944,572) | (1,701,428) |
Increases / (decreases) from operating liabilities: | |||
Non-financial public sector | 5,490,565 | (908,439) | 1,364,635 |
Financial sector | 25,268 | (92,655) | 56,344 |
Private non-financial sector and foreign residents | (185,401,944) | (80,200,298) | 83,811,103 |
Derivatives | (5,865) | 5,865 | |
Repo transactions | (1,280,183) | ||
Liabilities at fair value through profit or loss | (1,860,355) | (1,886,851) | 5,127,617 |
Other liabilities | (30,305,350) | 21,807,155 | (11,161,243) |
Income Tax paid | (846,938) | (3,156,324) | (3,742,575) |
Net cash provided by operating activities (A) | 1,658,267 | 16,526,631 | 66,130,451 |
Payments related to: | |||
Purchase of PPE, intangible assets and other assets | (8,361,635) | (9,784,475) | (13,889,911) |
Purchase of liabilities and equity instruments issued by other entities | 12,239 | (172,768) | (139,850) |
Acquisition of subsidiaries, net of cash adquired | (21,441) | ||
Collections: | |||
Disposals related to PPE, intangible assets and other assets | 794,892 | 812,362 | 1,252,265 |
Net cash used in investing activities (B) | (7,554,504) | (9,144,881) | (12,798,937) |
Payments: | |||
Lease liabilities | (2,545,549) | (4,727,463) | (4,016,850) |
Unsubordinated debt securities | (1,501,918) | (14,751,259) | (19,951,590) |
Financing received from the Argentine Central Bank and other financial institutions | (174,581,930) | (68,045,139) | (62,620,406) |
Subordinated debt securities | (3,353,254) | (5,216,762) | |
Dividends distribution | (491,857) | (1,002,622) | (1,558,517) |
Acquisition of treasury shares | (1,383,270) | ||
Collections: | |||
Unsubordinated debt securities | 4,386,933 | 7,802,825 | |
Financing received from the Argentine Central Bank and other financial institutions | 167,932,069 | 63,017,533 | 43,731,367 |
Net cash used in financing activities (C) | (12,572,455) | (24,475,271) | (41,829,933) |
Effects of exchange rate changes | 3,117,142 | 21,522,543 | 30,506,182 |
Net (decrease)/ increase in cash and cash equivalents (A+B+C+D) | (15,351,550) | 4,429,022 | 42,007,763 |
Result from exposure to changes in the purchasing power of the currency of Cash and equivalents | (17,375,613) | (33,342,083) | (37,792,540) |
Cash and cash equivalents at the beginning of the year | 87,128,000 | 116,041,061 | 111,825,838 |
Cash and cash equivalents at the end of the year | $ 54,400,837 | $ 87,128,000 | $ 116,041,061 |
ACCOUNTING STANDARDS AND BASIS
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | 1. ACCOUNTING STANDARDS AND BASIS OF PREPARATION Grupo Supervielle S.A. (individually referred to as “Grupo Supervielle” or “the Company” and jointly with its subsidiaries as the “Group”), is a financial services holding company organized under the laws of Argentina that conducts its business through its subsidiaries, providing banking services, proprietary brand credit card services, personal loans, insurance and other services. Grupo Supervielle´s Consolidated Financial Statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020 include the assets, liabilities and results of the controlled companies detailed in Note 1.2. 1.1 Basis of preparation These Consolidated Financial Statements have been prepared in accordance with IFRS as adopted by the International Accounting Standards Board (“IASB”). The preparation of Financial Statements at a certain date requires Management to make estimations and evaluations affecting the amount of assets and liabilities recorded and contingent assets and liabilities disclosed at such date, as well as income and expenses recorded during the year. Actual results might differ from the estimates and evaluations made at the date of preparation of these Consolidated Financial Statements. The most significant judgments made by Management in applying Grupo Supervielle’s accounting policies and the major estimations and significant judgments are described in Note 2. These consolidated financial statements as of December 31, 2022, were approved by resolution of the Board of Directors' meeting held on April 26, 2023. 1.1.1 Going concern The consolidated financial statements as of December 31, 2022, 2021 and 2020 have been prepared on a going concern basis as there is a reasonable expectation that Grupo Supervielle will continue its operational activities in the foreseeable future (and in any event with a time horizon of more than twelve months from the end of the reporting period). 1.1.2 Measuring Unit – IAS 29 (Financial reporting in hyperinflationary economies) The Consolidated Financial Statements of the Entity are expressed in Argentine pesos which is the functional currency of the Group. IAS 29 establishes the conditions under which an entity shall restate its financial statements if it is located in an economic environment considered hyperinflationary. This Standard requires that the financial statements of an entity that reports in the currency of a highly inflationary economy shall be stated in terms of the measuring unit current at the closing date of the latest reporting period, regardless of whether they are based on a historical cost approach or a current cost approach. To this end, in general terms, the inflation rate must be computed in the non-monetary items as from the acquisition date or the revaluation date, as applicable. These requirements also comprise the comparative information of the financial statements. To determine the existence of a highly inflationary economy under the terms of IAS 29, the standard details a series of factors to consider, including a cumulative inflation rate over three years that is close to or exceeds 100%. It is important to highlight that the three-year accumulated inflation rate as of December 31, 2022 reached 300.3. Consequently, the Company has restated its consolidated financial statements in the terms of IAS 29 for the year ended December 31, 2022. Grupo Supervielle determined to use the Internal Wholesale Price Index (IWPI) to restate balances and transactions until the year 2016, for the months of November and December 2015 the average variation of the Consumer Price Index (CPI) of the City of Buenos Aires was used, due to the fact that during those two months there were no IWPI measurements at national level. Then, from January 2017 omwards, Grupo Supervielle used the National Consumer Price Index (National CPI). The tables below show the evolution of these indexes in the last three years and as of December 31, 2022 according to official statistics (INDEC): As of December 31, Variation in Prices 2020 2021 2022 Annual 36.1 % 50.9 % 94.8 % Accumulated 3 years 209.2 % 216.1 % 300.3 % As a consequence of the aforementioned, these Consolidated Financial Statements as of December 31, 2022 were restated in accordance with the provisions of IAS 29. Restatement of the Financial Position Grupo Supervielle restated all the non-monetary items in order to reflect the impact of inflation in terms of the measuring unit current as of December 31, 2022. Consequently, the main items restated were Property, Plant and Equipment, Intangible assets, Goodwill, Inventories and Equity. Each item must be restated since the date of the initial recognition in Grupo Supervielle's accounts or since the date of the last revaluation. Monetary items have not been restated because they are stated in terms of the measuring unit current as of December 31, 2022. Comparative figures must also be presented in the measuring unit current as of December 31, 2022. Therefore, comparative figures for the previous reporting periods have been restated by applying a general price index, so that the resulting comparative financial statements are presented in terms of the measuring unit current at the end of the reporting period. Restatement of the Income Statement and the Statement of Cash Flows In the Income Statement, items shall be restated from the dates when the items of income and expense were originally recorded. To this end, Grupo Supervielle applied the variations in the consumer price index. The effect of inflation on the net monetary position is included in the Income Statement under Results from exposure to changes in the purchasing power of money. The items of the Statement of Cash Flows must also be restated in terms of the measuring unit current at the closing date of the Statement of Financial Position. IAS 29 para 33 states that all items in the statement of cash flows are expressed in terms of the measuring unit current at the end of the reporting period. The loss arising from the restatement has an impact on the Income Statement and must be eliminated from the Statement of Cash Flows because it is not considered to be cash and cash equivalent. Restatement of the Statement of Changes in Shareholder’s Equity All components of the Statement of Changes in Shareholder’s Equity must be restated from the dates on which the items were contributed or otherwise arose. 1.1.3 Change in accounting policies and new accounting standards The Group has applied the following amendments for the first time for their annual reporting period commencing 1 January 2022: (a) Amendments to IFRS 3 “Business Combinations”, IAS 16 “Property, plant and equipment” and IAS 37 “Provisions, contingent liabilities and contingent assets” IAS 16, 'Property, plant and equipment (PPE) - income before intended use' IAS 16 requires that the cost of an asset includes any costs attributable to bringing the asset to the location and condition necessary for it to be able to operate in the manner intended by management. One of those costs is testing whether the asset is working properly. The amendment to IAS 16 prohibits an entity from deducting from the cost of an item of PP&E any proceeds received from selling items produced while the entity is preparing the asset for its intended use (for example, the proceeds from selling samples produced when testing a machine to see if it is working properly). The proceeds from selling such samples, together with the costs of producing them, are now recognized in profit or loss. An entity will use IAS 2, “Inventory”, to measure the cost of those items. Cost will not include depreciation of the asset being tested because it is not ready for its intended use. The amendment also clarifies that an entity is “testing whether the asset is working properly” when it assesses the technical and physical performance of the asset. The financial performance of the asset is not relevant to this assessment. Therefore, an asset may be able to operate as intended by management and subject to depreciation before it has achieved the level of operating performance expected by management. The amendment requires entities to separately disclose the amounts of proceeds and costs relating to items produced that are not an output of the entity’s regular activities. An entity shall also disclose the line item in the statement of comprehensive income where the proceeds are included. IAS 37 “Provisions, contingent liabilities and contingent assets - Onerous contracts – Cost of fulfilling a contract” lAS 37 defines an onerous contract as one in which the unavoidable costs of meeting the entity’s obligations exceed the economic benefits to be received under that contract. Unavoidable costs are the lower of the net cost of exiting the contract and the costs to fulfil the contract. The amendment clarifies the meaning of ‘costs to fulfil a contract’. The amendment explains that the direct cost of fulfilling a contract comprises: ● the incremental costs of fulfilling that contract (for example, direct labour and materials); and ● an allocation of other costs that relate directly to fulfilling contracts (for example, an allocation of the depreciation charge for an item of PP&E used to fulfil the contract). The amendment also clarifies that, before a separate provision for an onerous contract is established, an entity recognises any impairment loss that has occurred on assets used in fulfilling the contract, rather than on assets dedicated to that contract. The amendment could result in the recognition of more onerous contract provisions, because previously some entities only included incremental costs in the costs to fulfil a contract. IFRS 3, ‘Business combinations - Reference to the Conceptual Framework’ The Board has updated IFRS 3, 'Business combinations', to refer to the 2018 Conceptual Framework for Financial Reporting, in order to determine what constitutes an asset or a liability in a business combination. Prior to the amendment, IFRS 3 referred to the 2001 Conceptual Framework for Financial Reporting. In addition, the Board added a new exception in IFRS 3 for liabilities and contingent liabilities. The exception specifies that, for some types of liabilities and contingent liabilities, an entity applying IFRS 3 should instead refer to IAS 37, ‘Provisions, Contingent Liabilities and Contingent Assets’, or IFRIC 21, ‘Levies’, rather than the 2018 Conceptual Framework. Without this new exception, an entity would have recognised some liabilities in a business combination that it would not recognise under IAS 37. Therefore, immediately after the acquisition, the entity would have had to derecognise such liabilities and recognise a gain that did not depict an economic gain. The adoption of this new standard did not have a significant impact in the consolidated financial statements. (b) Annual Improvements 2018-2020 Fees included in the 10% test for derecognition of financial liabilities The amendment to IFRS 9 establishes which fees should be included in the 10% test for derecognition of financial liabilities. Costs or fees could be paid to either third parties or the lender. Under the amendment, costs or fees paid to third parties will not be included in the 10% test. Illustrative examples accompanying IFRS 16 Leases Illustrative Example 13 accompanying IFRS 16 is amended to remove the illustration of payments from lessor relating to lease improvements. The reason for the amendment is to remove any potential confusion about the treatment of lease incentives. Subsidiaries as First-time adopters of IFRS IFRS 1 grants an exemption to subsidiaries that become a first-time adopter of IFRS after their parent. The subsidiary may measure the carrying amounts of its assets and liabilities that would have been included in the consolidated financial statements of its parent, based on the transition date to IFRS of the parent if no adjustments were made for reasons of consolidation and for the purposes of the business combination by which the parent acquired the subsidiary. IFRS 1 was amended to allow entities that have taken this IFRS 1 exemption to also measure cumulative translation differences using the amounts reported by the parent, based on the transition date to IFRS of the parent. The amendment to IFRS 1 extends the above-mentioned exemption to cumulative translation differences in order to reduce costs for first-time adopters of IFRS. The amendment will also apply to associates and joint ventures that have taken the same exemption from IFRS 1. Taxation in fair value measurements The Board has removed the requirement for entities to exclude cash flows for taxation when measuring fair value under IAS 41, ‘Agriculture’. This amendment is intended to align with the requirement in the standard to discount cash flows on a post-tax basis. The adoption of this new standard did not have an significant impact in the consolidated financial statements. Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for 31 December 2022 reporting periods and have not been early adopted by the Group: (a) IFRS 17 “Insurance contracts” On May 18, 2017, IASB issued IFRS 17 “Insurance contracts” which provides a comprehensive framework based on principles for measurement and presentation of all insurance contracts. The new rule will supersede IFRS 4 Insurance contracts and requires that insurance contracts be measured using cash flows of existing enforcement and that income be recognized as the service is rendered during the coverage period. The standard will come into force for the fiscal years beginning as from January 1, 2023. The adoption of this Standard is not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions (b) Amendments to IAS 1 “Presentation of Financial Statements”, IFRS Practice Statement 2 and IAS 8 “Accounting Policies, changes in accounting estimates and errors” The IASB amended IAS 1, “Presentation of Financial Statements”, to require companies to disclose material accounting policy information rather than significant accounting policy information. The amendment also clarifies that accounting policy information is expected to be material or of relative importance if, without it, users of the financial statements would be unable to understand other material information, or of relative importance, in the financial statements concerning significant accounting standards. To support this amendment, the Board also amended IFRS Practice State 2, “Making Materiality Judgments”, to provide guidance on how to apply the concept of materiality to accounting policy disclosures. The amendment to IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors”, helps to distinguish between changes in accounting policies from changes in accounting estimates. This distinction is important because changes in accounting estimates are applied prospectively to future transactions and other future events, but changes in accounting policies are generally applied retrospectively to past transactions and other past events as well as to those of the current period. These amendments are applicable to annual periods beginning on or after January 1, 2023. Early application is allowed. Changes shall be applied prospectively. The adoption of this Standard is not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. (c) Amendments to IAS 12 Deferred tax related to assets and liabilities arising from a single transaction The IASB has amended IAS 12, 'Income taxes', to require companies to recognise deferred tax on particular transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. The proposed amendments will typically apply to transactions such as leases for the lessee and decommissioning obligations. Paragraphs 15 and 24 of IAS 12 were amended to include an additional condition where the initial recognition exemption is not applied. According to the amended guidance, a temporary difference that arises on initial recognition of an asset or liability is not subject to the initial recognition exemption if that transaction gave rise to equal amounts of taxable and deductible temporary differences. Paragraph 22A has been added to provide further clarification of this principle. Paragraphs 22(b) and 22(c) of IAS 12 have also been amended. In addition, the Illustrative Examples accompanying IAS 12 have been amended to include Example 8 – Leases, to illustrate the new guidance. Finally, there have been some consequential amendments to IFRS 1, ‘First-time Adoption of International Financial Reporting Standards’. Deferred tax related to assets and liabilities arising from a single transaction has been added to the list of the exceptions to the retrospective application of other IFRSs. These amendments should be applied for annual periods beginning on or after 1 January 2023. Earlier application is permitted. The Group evaluated that there will be no impact from the application of this standard. (d) Amendments to IAS 16 – Leases These amendments include requirements for sale and leaseback transactions in IFRS 16 to explain how an entity accounts for a sale and leaseback after the transaction date. Sale and leaseback transactions where some or all of the lease payments are variable lease payments that do not depend on an index or rate are most likely to be impacted. The amendments will be effective for the annual periods beginning on or after January 1, 2024. Grupo Supervielle is currently evaluating the impact that this amendment may have on its consolidated financial statements. (e) Amendments to IAS 1 – Non-current assets with covenants. These amendments clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The amendments will be effective for the annual periods beginning on or after January 1, 2024. Grupo Supervielle is currently evaluating the impact that this amendment may have on its consolidated financial statements. 1.2. Consolidation A subsidiary is an entity (or subsidiary), including structured entities, in which Grupo Supervielle has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. The existence and the effect of the substantive rights, including substantive rights of potential vote, are considered when evaluating whether Grupo Supervielle has power over the other entity. For a right to be substantive, the right holder must have the practical ability to exercise such right whenever it is necessary to make decisions to direct the activities of the entity Grupo Supervielle can have control over an entity, even when it has less voting powers than those required for the majority. Accordingly, the protective rights of other investors, as well as those related to substantive changes in the subsidiary´ activities or applicable only in unusual circumstances, do not prevent Grupo Supervielle from having power over a subsidiary. The subsidiaries are consolidated from the date on which control is transferred to Grupo Supervielle. They are deconsolidated from the date that control ceases. The following chart details the subsidiaries included in the consolidation process: Percentage of direct or indirect investment in capital stock Company Main Activity 12/31/2022 12/31/2021 12/31/2020 Banco Supervielle S.A. Commercial Bank 99.90 % (1) 99.90 % (1) 99.90 % (1) IUDÚ Compañia Financiera S.A Financial Company 99.90 % 99.90 % 99.90 % Tarjeta Automática S.A. Credit Card 99.91 % 99.99 % 99.99 % Supervielle Asset Asset Management 100.00 % 100.00 % 100.00 % Sofital S.A.F. e I.I. Real State 100.00 % 100.00 % 100.00 % Espacio Cordial de Servicios S.A. Retail Services 100.00 % 100.00 % 100.00 % Supervielle Seguros S.A. Insurance 100.00 % 100.00 % 100.00 % Micro Lending S.A.U. Financial Company 100.00 % 100.00 % 100.00 % InvertirOnline S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Portal Integral de Inversiones S.A.U. Representations 100.00 % 100.00 % 100.00 % IOL Holding S.A. Financial Company 100.00 % 100.00 % — % Agente de Valores S.A. Financial Company 100.00 % 100.00 % — % Supervielle Productores Asesores de Seguros S.A. Insurance Broker 100.00 % 100.00 % 100.00 % Bolsillo Digital S.A.U. Fintech 100.00 % 100.00 % 100.00 % Supervielle Agente de Negociación S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Dólar IOL S.A.U. Financial Company 100.00 % 100.00 % 100.00 % (1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.87% , as of 12/31/2022, 12/31/2021 and 12/31/2020 respectively. For consolidation purposes, financial statements corresponding to the year ended December 31, 2022 were used, which cover the same period of time with respect to Grupo Supervielle's financial statements. Inter-company transactions, balances and unrealised gains on transactions between Grupo Supervielle companies are eliminated. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively. In accordance with the provisions of IFRS 3, the acquisition method is the one used to account for the acquisition of subsidiaries. The identifiable assets acquired and the liabilities and contingent liabilities assumed in a business combination are measured at their fair values on the date of acquisition. The excess of the: (i)consideration transferred, (ii) amount of any non-controlling interest in the acquired entity, and (iii) acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. The consideration transferred for the acquisition of a subsidiary comprises the: (i) fair values of the assets transferred, (ii) liabilities incurred to the former owners of the acquired business, (iii) equity interests issued by the group, (iv) fair value of any asset or liability resulting from a contingent consideration arrangement, and (v) fair value of any pre-existing equity interest in the subsidiary. 1.3. Transactions with non-controlling interest Grupo Supervielle treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of Grupo Supervielle. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized in a separate reserve within equity attributable to owners of Grupo Supervielle. 1.4. Segment Reporting An operating segment is defined as a component of an entity or a Group that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity), and whose financial information is evaluated on a regular basis by the chief operating decision maker. Operating segments are reported in a manner consistent with the internal reporting provided to: (i) Key personnel of the senior management who account for the main authority in operating decision-making processes and is responsible for allocating resources and assessing the performance of operating segments; and (ii) The Board, who is in charge of making strategic decisions of Grupo Supervielle. 1.5. Foreign currency translation (a) Functional and presentation currency Figures included in the Consolidated Financial Statements of each of Grupo Supervielle’s entities are measured using the functional currency, that is, the currency of the primary economic environment in which the entity operates. Consolidated Financial Statements are presented in Argentine pesos, which is the functional and presentation currency of Grupo Supervielle. Conversion of subsidiaries Participations in subsidiary companies, whose functional currency is different from the Argentine peso, are converted, first, to the functional currency of Grupo Supervielle, and then adjusted for inflation (see note 1.1.2). The results and financial position of the subsidiaries with a functional currency other than the Argentine peso are translated into Grupo Supervielle's functional currency in accordance with the provisions of IAS 21 "Effects of changes in foreign currency exchange rates", as follows: • • Subsequently, the converted balances were adjusted for inflation in order to present them in the measuring unit current at the end of the reporting period. All the differences resulting from the translation were recognized in the caption "Foreign currency translation adjustment " of the consolidated statement of other comprehensive income. In the case of sale or disposal of any of the subsidiaries, the accumulated conversion differences must be recognized in the Statement of Comprehensive Income as part of the gain or loss from the sale or disposal. (b) Transactions and balances Transactions in foreign currency are translated into the functional currency using the exchange rates published by the Argentine Central Bank at the dates of the transactions. Gains and losses in foreign currency resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currency at year end exchange rates, are recognized in the income statement, under "Exchange rate differences on gold and foreign currency". As of December 31, 2022 and 2021, the balances in U.S. dollars were converted at the reference exchange rate determined by the Argentine Central Bank. In the case of foreign currencies other than U.S. dollars, they have been converted to this currency using the exchange rates derived from repo transactions reported by the Argentine Central Bank. 1.6. Cash and due from banks Cash and due from Banks includes available cash and unrestricted deposits held in Banks, which are short-term liquid instruments and have original maturities of less than three months. Assets disclosed under cash and due from Banks are measured at amortized cost which is close to its fair value. Cash and Cash equivalents include cash and highly liquid short-term securities with an original maturity of less than three-months according to the following detail: Item 12/31/2022 12/31/2021 12/31/2020 Cash and due from banks 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss 5,610,509 20,265,790 5,494,141 Money Market Funds 390,860 3,410,049 2,713,997 Cash and cash equivalents 54,400,837 87,128,000 116,041,061 Reconciliation between balances as appearing on the Statement of Financial Position and the items in the Statement of Cash Flow: Items 12/31/2022 12/31/2021 12/31/2020 Cash and due from Banks As per Statement of Financial Position 48,399,468 63,452,161 107,832,923 As per the Statement of Cash Flow 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss As per Statement of Financial Position 22,384,677 38,486,623 29,025,766 Securities not considered a cash equivalents (16,774,168) (18,220,833) (23,531,625) As per the Statement of Cash Flow 5,610,509 20,265,790 5,494,141 Money Market Funds As per Statement of Financial Position – Other financial assets 8,107,119 27,120,979 12,599,580 Other financial assets not considered a cash equivalents (7,716,259) (23,710,930) (9,885,583) As per the Statement of Cash Flow 390,860 3,410,049 2,713,997 Reconciliation of liabilities from financing activities at December 31, 2022, 2021 and 2020 is as follows: Cash Flows Other non-cash Items 12/31/2021 Inflows Outflows movements 12/31/2022 Unsubordinated debt securities 2,063,327 — (1,501,918) — 561,409 Financing received from the Argentine Central Bank and other financial institutions 12,179,537 167,932,069 (174,581,930) — 5,529,676 Lease Liabilities 2,645,808 — (2,545,549) 1,468,203 1,568,462 Total 16,888,672 167,932,069 (178,629,397) 1,468,203 7,659,547 Cash Flows Other non-cash Items 12/31/2020 Inflows Outflows movements 12/31/2021 Unsubordinated debt securities 12,427,653 4,386,933 (14,751,259) — 2,063,327 Subordinated debt securities 3,353,254 — (3,353,254) — — Financing received from the Argentine Central Bank and other financial institutions 17,207,143 63,017,533 (68,045,139) — 12,179,537 Lease Liabilities 3,474,475 — (4,727,463) 3,898,796 2,645,808 Total 36,462,525 67,404,466 (90,877,115) 3,898,796 16,888,672 Cash Flows Other non-cash Items 12/31/2019 Inflows Outflows movements 12/31/2020 Unsubordinated debt securities 24,363,308 7,802,825 (19,951,590) 213,110 12,427,653 Subordinated debt securities 8,485,616 — (5,216,762) 84,400 3,353,254 Financing received from the Argentine Central Bank and other financial institutions 36,096,182 43,731,367 (62,620,406) — 17,207,143 Lease Liabilities 3,788,265 — (4,016,850) 3,703,060 3,474,475 Total 72,733,371 51,534,192 (91,805,608) 4,000,570 36,462,525 1.7. Associates Associates are entities over which Grupo Supervielle has significant influence (directly or indirectly), but not control, generally accompanying a stake of between 20 and 50 percent of the voting rights. Investments in associates are accounted for using the equity method, and are initially recognized at cost. The book value of the associates includes the goodwill identified in the acquisition less accumulated impairment losses, if applicable. Dividends received from associates reduce the book value of the investment. Other changes subsequent to the acquisition in Grupo Supervielle's participation in the net assets of an associate are recognized as follows: (i) Grupo Supervielle's participation in the gains or losses of associates is recorded in the income statement as profit or loss by associates and joint ventures and (ii) Grupo Supervielle's share in other comprehensive income is recognized in the statement of other comprehensive income and is presented separately. However, when Grupo Supervielle's share of losses in an associate equals or exceeds its interest in the associate, Grupo Supervielle will cease to recognize its share of additional losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized gains on transactions between Grupo Supervielle and its associates are eliminated to the extent of Grupo Supervielle's participation in the associates; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. 1.8. Financial Instruments Initial Recognition and measurement Financial assets and financial liabilities are recognized when the entity becomes a party to the contractual provisions of the instrument. Purchases and sales of financial assets are recognized on trade-date, the date on which Grupo Supervielle commits to purchase or sell the asset. At initial recognition, Grupo Supervielle measures financial assets or liabilities at fair value, plus or less, for instruments not recognized at fair value through profit or loss, transaction costs that are directly attributable to the acquisition, such as fees and commissions. When the fair value of financial assets and liabilities differs from the transaction price on initial recognition, Grupo Supervielle recognizes the difference as follows: ● When the fair value is evidenced by a quoted price in an active market for an identical asset or liability or based on a valuation technique that only uses data from observable markets, the difference is recognized as a gain or loss. ● In all other cases, the difference is deferred and the timing of recognition of deferred day one profit or loss is determined individually. It is either amortized over the life of the instrument until its fair value can be determined using market observable in |
CRITICAL ACCOUNTING POLICIES AN
CRITICAL ACCOUNTING POLICIES AND ESTIMATES | 12 Months Ended |
Dec. 31, 2022 | |
CRITICAL ACCOUNTING POLICIES AND ESTIMATES | |
CRITICAL ACCOUNTING POLICIES AND ESTIMATES | 2. CRITICAL ACCOUNTING POLICIES AND ESTIMATES The preparation of these Consolidated Financial Statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires Senior Management to make judgements in applying the accounting standards to define Grupo Supervielle’s accounting policies. Grupo Supervielle has identified the following areas which involve a higher degree of judgement or complexity, or areas where assumptions and estimates are material for these Consolidated Financial Statements which are essential to understand the underlying accounting/financial reporting risks: a- Fair value of financial instruments that do not have an active market The fair value of financial instruments not listed in active markets is determined by using valuation techniques. Such techniques are regulary validated and reviewed by qualified personnel independent from the area which developed them. All models are assessed and adjusted before being used in order to ensure that results reflect current information and comparable market prices. As long as possible, models rely on observable inputs only; however, certain factors such as implicit rates in the last available tender for similar securities and spot rate curves, require the use of estimates. Changes in the assumptions of these factors may affect the reported fair value of financial instruments. b- Allowances for loan losses The Group recognizes the allowance for loan losses under the expected credit loss method included in IFRS 9. The most significant judgements of the model relate to defining what is considered to be a significant increase in credit risk and in making assumptions and estimates to incorporate relevant information about past events, current conditions and forecasts of economic conditions. The impact of the forecasts of economic conditions are determined based on the weighted average of three internally developed macroeconomic scenarios that take into consideration Grupo Supervielle’s economic outlook as derived through forecast macroeconomic variables, which include inflation rate, monthly economic activity estimator, exchange rate, interest rate, loans growth, quantity of private sector employment and private sector wage. A high degree of uncertainty is involved in making estimations using assumptions that are highly subjective. Note 1.11 provides more detail of how the expected credit loss allowance is calculated . c- Impairment of Non-Financial Assets Intangible assets with definite useful life and property, plant and equipment are amortized or depreciated on a straight-line basis during their estimated useful life. Grupo Supervielle monitors the conditions associated with these assets to determine whether the events and circumstances require a review of the remaining amortization or depreciation term and whether there are impairment indicators. Grupo Supervielle has applied judgment in the identification of impairment indicators for property, plant and equipment and intangible assets. The evaluation process for potential impairment of an asset of indefinite useful life is subject to and require a significant judgment in many points over the course of the analysis, including the identification of its cash-generating unit, the identification and allocation of assets and liabilities to a cash-generating unit and the definition of their recoverable value. The recoverable value is compared with the carrying value in order to determine the impairment. When calculating the recoverable value of the cash-generating unit in virtue of the assessment of annual or regular impairment, Grupo Supervielle uses estimates and significant judgments on future cash flows of the cash-generating unit. Its cash flow forecasts are based on assumptions that account for the best use of its cash-generating unit. Although Grupo Supervielle believes that assumptions and forecasts used are suitable in virtue of the information available, changes in assumptions or circumstances may require changes in the assessment. Negative changes in assumptions utilized in an impairment tests of indefinite useful life intangible assets may result in the reduction or removal of the excess of fair value over the book value, which would result in the potential recognition of impairment. d- Income tax and deferred tax A significant judgment is required to determine liabilities and assets from current and deferred taxes. The current tax is measured at the amount expected to be paid to the taxation authority using the tax rates that have been enacted or substantially enacted by the end of the reporting period. The deferred tax is measured over temporary differences between tax basis of assets and liabilities and book values at the tax rates that are impairment indicators . Assets from deferred tax are recognized upon the possibility of relying on future taxable earnings against which temporary differences can be used, based on the Senior Management´s assumptions regarding amounts and opportunities of future taxable earnings. Later, it is necessary to determine whether assets from deferred tax are likely to be used and set off future taxable earnings. Real results may differ from estimates, such as changes in tax legislation or the result of the final review of affidavits issued by tax authorities and tax courts. Likely future tax earnings and the number of tax benefits are based on a medium term business plan prepared by the administration. Such plan is based on reasonable expectations. |
SEGMENT REPORTING
SEGMENT REPORTING | 12 Months Ended |
Dec. 31, 2022 | |
SEGMENT REPORTING | |
SEGMENT REPORTING | 3. SEGMENT REPORTING Grupo Supervielle determines operating segments based on performance reports which are updated upon changes and reviewed by the Board and key personnel of Senior Management. Grupo Supervielle´s clients receive the following services: ● Personal and Business Banking Segment: - Small companies, individuals and companies that record annual sales of up to 3,000,000 - "Small and medium size companies", companies that record annual sales of over 3,000,000 up to 5,000,000 ● Corporate Baking Segment: - Megras that record annual sales over 5,000,000 up to 7,000,000 - Big companies. Big companies that record annual sales of over 7,000,000 Grupo Supervielle analyses the bussiness taking into account the different type of services and products offered: a- Personal and Business Banking– Includes a wide range of financial products and services targeted to small companies, included in Entrepreneurs & SMSs, and high income people identified with so-called Identité proposal. Likewise, the Bank offers services and products targeted to retirees and pensioners. b- Corporate Banking – Includes advisory services at a corporate and financial level, as well as the administration of assets and loans targeted to corporate clients. c- Bank Treasury – This segment is in charge of the assignment of liquidity of the Entity in accordance with the different commercial areas´ needs and its own needs, Treasury implements financial risk administration policies of the Bank, manages trading desk operations, distributes financial products, such as negotiable securities and develops business with the financial sector clients and whole sale non-financial sector clients. d- Consumer Finance– Includes loans and other credit products targeted to middle and low-middle income sectors and non-financial products and services. e- Insurance: Includes insurance products, with a focus on life insurance, to targeted customers segments f- Asset Management and Other Services – Includes MFs administered by Grupo Supervielle. Includes also assets, liabilities and results of InvertirOnline.Com Argentina S.A.U. (renamed as “Portal Integral de Inversiones S.A.U.” with registration pending) and InvertirOnline S.A.U., IOL Holding S.A., Supervielle Asset Management S.A., Dólar IOL S.A. and Bolsillo Digital S.A.U. Operating results of the different operating segments of Grupo Supervielle are reviewed individually with the purpose of taking decisions over the allocation of resources and the performance analysis of each segment. The performance of such segments will be evaluated based on operating income and is measured consistently with operating income/(expenses) of the consolidated income statement. When a transaction is carried out between operating segments, they are made as an arm´s length transaction. Later, income, expenses and results from transfers between operating segments are for consolidation purposes. Grupo Supervielle does not present information by geographical segments because there are no operating segments in economic environments with risks and rewards that are significantly different. The following chart includes information by segment measured in accordance with IAS 29, as of December 31, 2022, 2021 and 2020: Personal and Asset Business Corporate Bank Consumer Management and Total as of Asset by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Cash and due from banks 18,640,425 764,338 28,448,336 220,055 2,026 373,036 (48,748) 48,399,468 Debt securities at fair value through profit or loss 72,941 1,617,976 19,876,879 788,425 — 28,456 — 22,384,677 Loans and other financing 143,638,954 82,383,817 8,442,170 623,026 1,760,652 183,291 (1,440,712) 235,591,198 Other Assets 15,972,688 5,171,074 337,729,730 13,734,555 3,307,334 2,308,776 12,267,797 390,491,954 Total Assets 178,325,008 89,937,205 394,497,115 15,366,061 5,070,012 2,893,559 10,778,337 696,867,297 Personal and Asset Businesses Corporate Bank Consumer Management and Total as of Liabilities by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Deposits 245,102,232 63,585,543 235,204,847 3,974,142 — 69,842 (419,671) 547,516,935 Financing received from the Argentine Central Bank and others 35,406 88 5,494,188 607,575 — 124,706 (732,287) 5,529,676 Unsubordinated Debt Securities 12,874 4,373 544,162 — — — — 561,409 Other liabilities 18,799,427 3,879,023 5,374,177 1,394,727 2,125,228 1,035,730 18,304,932 50,913,244 Total Liabilities 263,949,939 67,469,027 246,617,374 5,976,444 2,125,228 1,230,278 17,152,974 604,521,264 Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Interests income 68,595,988 35,920,437 139,048,123 11,576,426 4,659 28,549 (3,300,356) 251,873,826 Interest Expense (50,693,775) (10,624,629) (100,741,944) (8,055,352) — — 4,609,359 (165,506,341) Distribution of results by the Treasury 16,496,028 (10,976,718) (5,519,310) — — — — — Net interest income 34,398,241 14,319,090 32,786,869 3,521,074 4,659 28,549 1,309,003 86,367,485 Net income from financial instruments at fair value through profit or loss — — 13,918,206 1,061,264 1,430,703 1,291,700 544,846 18,246,719 Result from derecognition of assets measured at amortized cost — — 497,884 — — — (6,047) 491,837 Exchange rate differences on gold and foreign currency 632,202 146,828 1,481,454 (33,944) 20 91,281 425,118 2,742,959 NIFFI And Exchange Rate Differences 632,202 146,828 15,897,544 1,027,320 1,430,723 1,382,981 963,917 21,481,515 Net Financial Income 35,030,443 14,465,918 48,684,413 4,548,394 1,435,382 1,411,530 2,272,920 107,849,000 Services Fee Income 20,028,687 2,213,741 174,848 4,127,207 — 4,107,451 (312,866) 30,339,068 Services Fee Expenses (7,491,247) (600,059) (345,765) (2,734,783) — (192,404) 641,103 (10,723,155) Income from insurance activities — — — — 4,034,853 — 491,519 4,526,372 Net Service Fee Income 12,537,440 1,613,682 (170,917) 1,392,424 4,034,853 3,915,047 819,756 24,142,285 Subtotal 47,567,883 16,079,600 48,513,496 5,940,818 5,470,235 5,326,577 3,092,676 131,991,285 Result from exposure to changes in the purchasing power of money 12,477,842 (5,988,253) (19,419,563) 771,200 (1,931,871) (1,083,665) (2,574,753) (17,749,063) Other operating income 3,843,533 3,531,800 1,464,910 2,645,420 24,084 277,354 (1,295,684) 10,491,417 Loan loss provisions (9,801,914) (495,474) (417,613) (3,432,836) (11,988) (1,414) (9,777) (14,171,016) Net operating income 54,087,344 13,127,673 30,141,230 5,924,602 3,550,460 4,518,852 (787,538) 110,562,623 Personnel expenses (36,872,521) (5,481,914) (2,846,491) (5,302,630) (1,156,099) (2,185,140) (47,751) (53,892,546) Administrative expenses (20,593,305) (1,768,577) (1,370,603) (3,447,004) (811,520) (926,849) 355,037 (28,562,821) Depreciations and impairment of non-financial assets (7,512,248) (1,021,736) (448,352) (1,253,319) (108,499) (70,452) 316,009 (10,098,597) Other operating expenses (11,041,216) (3,340,741) (8,467,679) (3,383,143) (467) (405,623) 9,779 (26,629,090) Operating income (21,931,946) 1,514,705 17,008,105 (7,461,494) 1,473,875 930,788 (154,464) (8,620,431) Income from associates and joint ventures — — — (10,673) — — 10,673 — Result before taxes (21,931,946) 1,514,705 17,008,105 (7,472,167) 1,473,875 930,788 (143,791) (8,620,431) Income tax 7,579,721 (98,749) (6,282,238) 3,290,139 (614,072) (449,040) 160,253 3,586,014 Net (loss) / income (14,352,225) 1,415,956 10,725,867 (4,182,028) 859,803 481,748 16,462 (5,034,417) Net (loss) / income for the year attributable to owners of the parent company (14,352,225) 1,415,956 10,725,867 (4,182,028) 859,803 481,748 21,924 (5,028,955) Net (loss) / income for the year attributable to non-controlling interest — — — — — — (5,462) (5,462) Other comprehensive (loss)/income (137,100) (48,338) (1,013,981) — 16,184 61,052 (38,994) (1,161,177) Other comprehensive (loss) / income attributable to owners of the parent company (137,100) (48,338) (1,013,981) — 16,184 61,052 (37,766) (1,159,949) Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — (1,228) (1,228) Comprehensive (loss) / income for the year (14,489,325) 1,367,618 9,711,886 (4,182,028) 875,987 542,800 (22,532) (6,195,594) Comprehensive (loss) / income attributable to owners of the parent company (14,489,325) 1,367,618 9,711,886 (4,182,028) 875,987 542,800 (15,842) (6,188,904) Comprehensive (loss) / income attributable to non-controlling interest — — — — — — (6,690) (6,690) Personal and Asset Business Corporate Bank Consumer Management and Total as of Asset by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Cash and due from banks 23,591,677 1,075,554 36,471,307 1,426,096 8,221 510,409 368,897 63,452,161 Debt securities at fair value through profit or loss — — 36,896,690 1,585,480 — 4,453 — 38,486,623 Loans and other financing 148,658,868 121,086,352 20,186,470 21,821,056 1,683,684 198,082 (10,781,119) 302,853,393 Other Assets 12,875,007 6,715,094 272,683,855 10,012,771 4,538,529 2,842,845 46,018,231 355,686,332 Total Assets 185,125,552 128,877,000 366,238,322 34,845,403 6,230,434 3,555,789 35,606,009 760,478,509 Personal and Asset Businesses Corporate Bank Consumer Management and Total as of Liabilities by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Deposits 270,137,000 60,528,871 219,175,414 13,096,133 — 147,603 (1,188,314) 561,896,707 Financing received from the Argentine Central Bank and others 29,895 — 11,417,648 10,334,832 — — (9,602,838) 12,179,537 Unsubordinated Debt Securities 26,287 16,289 2,020,750 — — — 1 2,063,327 Other liabilities 27,698,342 8,389,824 20,723,982 7,196,198 3,101,869 1,393,130 15,418,895 83,922,240 Total Liabilities 297,891,524 68,934,984 253,337,794 30,627,163 3,101,869 1,540,733 4,627,744 660,061,811 Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Interests income 59,843,799 37,890,661 91,405,063 15,443,759 2,770 14,985 (3,122,784) 201,478,253 Interest Expense (31,627,176) (5,920,482) (75,986,668) (7,468,616) — — 3,154,025 (117,848,917) Distribution of results by the Treasury 10,001,101 (17,873,258) 7,872,157 — — — — — Net interest income 38,217,724 14,096,921 23,290,552 7,975,143 2,770 14,985 31,241 83,629,336 Net income from financial instruments at fair value through profit or loss — — 14,369,613 713,660 1,119,260 831,953 281,596 17,316,082 Result from derecognition of assets measured at amortized cost — — 541,174 — — — (46,035) 495,139 Exchange rate differences on gold and foreign currency 616,744 168,636 782,484 27,957 1,270 158,622 177,381 1,933,094 NIFFI And Exchange Rate Differences 616,744 168,636 15,693,271 741,617 1,120,530 990,575 412,942 19,744,315 Net Financial Income 38,834,468 14,265,557 38,983,823 8,716,760 1,123,300 1,005,560 444,183 103,373,651 Services Fee Income 20,509,780 2,022,791 120,104 5,255,006 — 5,225,610 (670,493) 32,462,798 Services Fee Expenses (6,710,658) (662,829) (331,413) (2,233,900) — (269,870) 312,239 (9,896,431) Income from insurance activities — — — — 3,848,954 — 575,278 4,424,232 Net Service Fee Income 13,799,122 1,359,962 (211,309) 3,021,106 3,848,954 4,955,740 217,024 26,990,599 Subtotal 52,633,590 15,625,519 38,772,514 11,737,866 4,972,254 5,961,300 661,207 130,364,250 Result from exposure to changes in the purchasing power of money 5,798,882 (3,614,993) (12,530,796) (1,362,331) (1,394,082) (881,379) (1,224,273) (15,208,972) Other operating income 2,543,257 2,649,074 4,035,567 1,510,787 29,252 158,088 (452,241) 10,473,784 Loan loss provisions (8,080,660) (1,608,512) (61,599) (7,644,106) — — — (17,394,877) Net operating income 52,895,069 13,051,088 30,215,686 4,242,216 3,607,424 5,238,009 (1,015,307) 108,234,185 Personnel expenses (35,503,440) (3,736,681) (2,147,250) (5,104,614) (1,102,816) (2,184,424) (70,926) (49,850,151) Administrative expenses (21,573,090) (1,561,632) (1,521,346) (3,426,780) (958,441) (1,249,978) 379,646 (29,911,621) Depreciations and impairment of non-financial assets (6,446,388) (612,169) (410,667) (398,446) (92,870) (87,129) (182,620) (8,230,289) Other operating expenses (10,177,556) (4,193,085) (6,107,245) (2,089,710) (31,796) (401,740) (78,053) (23,079,185) Operating income (20,805,405) 2,947,521 20,029,178 (6,777,334) 1,421,501 1,314,738 (967,260) (2,837,061) Income from associates and joint ventures — — — 10,544 — — (10,544) — Result before taxes (20,805,405) 2,947,521 20,029,178 (6,766,790) 1,421,501 1,314,738 (977,804) (2,837,061) Income tax 7,248,314 (989,201) (6,488,444) 657,020 (369,795) (480,309) (122,826) (545,241) Net (loss) / income (13,557,091) 1,958,320 13,540,734 (6,109,770) 1,051,706 834,429 (1,100,630) (3,382,302) Net (loss) / income for the year attributable to owners of the parent company (13,557,091) 1,958,320 13,540,734 (6,109,770) 1,051,706 834,429 (1,097,091) (3,378,763) Net (loss) / income for the year attributable to non-controlling interest — — — — — — (3,539) (3,539) Other comprehensive (loss)/income (45,245) (28,031) (56,433) — (2,279) 789 26,540 (104,659) Other comprehensive (loss) / income attributable to owners of the parent company (45,245) (28,031) (56,433) — (2,279) 789 26,674 (104,525) Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — (134) (134) Comprehensive (loss)/income for the year (13,602,336) 1,930,289 13,484,301 (6,109,770) 1,049,427 835,218 (1,074,090) (3,486,961) Comprehensive (loss) / income attributable to owners of the parent company (13,602,336) 1,930,289 13,484,301 (6,109,770) 1,049,427 835,218 (1,070,417) (3,483,288) Comprehensive (loss) / income attributable to non-controlling interest — — — — — — (3,673) (3,673) Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2020 Interests income 64,781,126 38,167,889 75,243,701 13,034,272 — 124,683 (1,118,488) 190,233,183 Interest Expense (24,056,798) (3,156,957) (54,086,014) (4,020,358) — (78,172) 1,370,976 (84,027,323) Distribution of results by the Treasury 10,025,101 (18,788,017) 8,762,916 — — — — — Net interest income 50,749,429 16,222,915 29,920,603 9,013,914 — 46,511 252,488 106,205,860 Net income from financial instruments at fair value through profit or loss — — 6,806,796 421,821 1,039,413 478,422 1,002,156 9,748,608 Result from derecognition of assets measured at amortized cost — — 2,025,216 — — — (93,423) 1,931,793 Exchange rate differences on gold and foreign currency 1,115,162 154,672 1,244,489 111,055 (288) 215,104 289,825 3,130,019 NIFFI And Exchange Rate Differences 1,115,162 154,672 10,076,501 532,876 1,039,125 693,526 1,198,558 14,810,420 Net Financial Income 51,864,591 16,377,587 39,997,104 9,546,790 1,039,125 740,037 1,451,046 121,016,280 Services Fee Income 21,947,149 1,976,670 175,339 6,272,126 — 4,658,234 (1,234,915) 33,794,603 Services Fee Expenses (7,213,591) (565,596) (175,705) (2,241,384) — (149,229) (87,257) (10,432,762) Income from insurance activities — — — — 4,275,708 — 638,770 4,914,478 Net Service Fee Income 14,733,558 1,411,074 (366) 4,030,742 4,275,708 4,509,005 (683,402) 28,276,319 Subtotal 66,598,149 17,788,661 39,996,738 13,577,532 5,314,833 5,249,042 767,644 149,292,599 Result from exposure to changes in the purchasing power of money 4,277,047 (2,666,286) (9,319,586) (2,608,388) (1,120,423) (744,879) (432,079) (12,614,594) Other operating income 4,503,007 4,465,178 744,698 1,071,797 30,867 687,147 (390,201) 11,112,493 Loan loss provisions (12,835,377) (9,908,962) (12,046) (2,607,981) — 34,022 — (25,330,344) Net operating income 62,542,826 9,678,591 31,409,804 9,432,960 4,225,277 5,225,332 (54,636) 122,460,154 Personnel expenses (39,060,155) (3,737,283) (2,736,205) (5,039,007) (934,435) (1,590,087) (347,178) (53,444,350) Administrative expenses (21,849,322) (1,496,356) (1,359,438) (4,301,762) (776,477) (1,347,098) 791,419 (30,339,034) Depreciations and impairment of non-financial assets (5,658,084) (423,852) (319,011) (399,351) (61,042) (30,863) (185,037) (7,077,240) Other operating expenses (11,274,663) (3,691,407) (2,165,681) (1,771,245) (5,369) (305,395) (117,669) (19,331,429) Operating income (15,299,398) 329,693 24,829,469 (2,078,405) 2,447,954 1,951,889 86,899 12,268,101 Income from associates and joint ventures — — — 18,983 — — (18,983) — Result before taxes (15,299,398) 329,693 24,829,469 (2,059,422) 2,447,954 1,951,889 67,916 12,268,101 Income tax 4,059,222 221,470 (6,527,266) 361,314 (865,969) (772,750) 1,548,996 (1,974,983) Net (loss) / income (11,240,176) 551,163 18,302,203 (1,698,108) 1,581,985 1,179,139 1,616,912 10,293,118 Net (loss) / income for the year attributable to owners of the parent company (11,240,174) 551,163 18,302,203 (1,698,108) 1,581,986 1,179,136 1,614,289 10,290,495 Net (loss) / income for the year attributable to non-controlling interest — — — — — — 2,623 2,623 Other comprehensive (loss)/income 647,294 340,978 1,408,984 — — — (34,208) 2,363,048 Other comprehensive (loss) / income attributable to owners of the parent company 647,294 340,978 1,408,984 — — — (36,495) 2,360,761 Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — 2,287 2,287 Comprehensive (loss)/income for the year (10,592,882) 892,141 19,711,187 (1,698,108) 1,581,985 1,179,139 1,582,704 12,656,166 Comprehensive (loss) / income attributable to owners of the parent company (10,592,880) 892,141 19,711,187 (1,698,108) 1,581,986 1,179,136 1,577,794 12,651,256 Comprehensive (loss) / income attributable to non-controlling interest — — — — — — 4,910 4,910 |
INCOME TAX
INCOME TAX | 12 Months Ended |
Dec. 31, 2022 | |
INCOME TAX | |
INCOME TAX | 4. INCOME TAX Tax inflation adjustment Law 27,430 introduced a modification in which it established that the subjects referred to in subparagraphs a) to e) of article 53 of the current Income Tax Law, for the purpose of determining the net taxable income, should deduct or incorporate to the tax result of the year the adjustment for tax inflation. Said adjustment would be applicable in the fiscal year in which the accumulated 3 year inflation rate determined using the consumer price index is greater than 100%. The positive or negative inflation adjustment, as the case may be, that must be calculated, would be allocated as follows: the first and second fiscal years beginning on or after January 1, 2019, a sixth ( 1/6 Since January 1, 2021, the allocation of the inflation adjustment will be made in its entirety (100%), without any deferral. In this sense, in the current fiscal period the Group has computed the entire inflation adjustment calculated for this year. Grupo Supervielle, considering the jurisprudence on this matter evaluated by the legal and tax advisors, submitted to the Federal Administration of Public Revenues (AFIP) its annual income tax return for the fiscal period 2020 considering the total effect of the inflation adjustment. Tax rate On June 16, 2021, Law 27,630 was enacted, which establishes for capital companies a new structure of staggered rates for income tax with three segments in relation to the level of accumulated net taxable profit, applicable to fiscal years beginning on or after January 1, 2021, inclusive. The new Tax rates are: • Up to $5,000,000 of the accumulated taxable net profit: they will pay a tax of 25%; • More than $5,000,000 and up to $50,000,000 of accumulated taxable net income: they will pay a fixed amount of $1,250,000 plus a tax 30% rate on the excess of $5,000,000. • More than $50,000,000 of accumulated taxable net income: they will pay a fixed amount of $14,750,000 plus a tax 35% rate on the excess of $50,000,000. The amounts provided above will be adjusted annually as of January 1, 2022, based on the annual variation of the Consumer Price Index (CPI) provided by the National Institute of Statistics and Censuses (INDEC), corresponding to the month of October year prior to the adjustment, with respect to the same month of the previous year. Dividend tax: it is established that dividends or profits distributed to individuals, undivided estates or foreign beneficiaries will be taxed at the rate of 7%. The following is a reconciliation between the income tax charged to income as of December 31, 2022, 2021 and 2020 and that which would result from applying the current tax rate on the accounting profit 12/31/2022 12/31/2021 12/31/2020 Income before taxes (8,620,431) (2,837,061) 12,268,101 Tax rate 34 % 28 % 30 % Income for the year at tax rate (2,967,601) (780,253) 3,680,430 Permanent differences at tax rate: Contribution SGR (Mutual Guarantee Societies) (187,991) (562,465) (955,901) Tax inflation adjustment (2,187,304) 218,198 (42,460) Income tax return 34,862 51,612 (50,359) Effect of tax rate change on deferred tax 1,712,213 1,483,722 (1,675,998) Non-deductible results 9,807 134,427 1,019,271 Income tax (3,586,014) 545,241 1,974,983 4.1 The net position of the deferred tax is as follows: 12/31/2022 12/31/2021 Deferred tax assets 12,196,868 6,301,474 Deferred tax liability (181,543) (120,258) Net assets by deferred tax 12,015,325 6,181,216 Deferred taxes to be recovered in more than 12 months 9,993,005 3,129,388 Deferred taxes to be recovered in 12 months 2,203,863 3,172,086 Subtotal – Deferred tax assets 12,196,868 6,301,474 Deferred taxes to be paid in more than 12 months (810,164) (165,323) Deferred taxes to be paid in 12 months 628,621 45,065 Subtotal – Deferred tax liabilities (181,543) (120,258) Total Net Assets by deferred Tax 12,015,325 6,181,216 According to the analysis carried out by Grupo Supervielle, it is considered that the assets detailed above meet the requirements to consider them recoverable. Deferred tax assets / (liabilities) are summarized as follows: Balance at (Charge)/Credit Balance at 12/31/2021 to Income/OCI 12/31/2022 Intangible assets (2,837,272) 63,842 (2,773,430) Loan Loss Reserves 2,945,323 (994,337) 1,950,986 Property, plant and equipment (7,770,156) 5,174,798 (2,595,358) Foreign Currency (101,579) — (101,579) Tax Loss Carry Forward 7,678,038 4,422,707 12,100,745 Inflation adjustment credit 3,839,317 (1,020,424) 2,818,893 Provisions 592,442 (57,395) 535,047 Others 1,835,103 (1,755,082) 80,021 Total 6,181,216 5,834,109 12,015,325 Balance at (Charge)/Credit Balance at 12/31/2020 to Income 12/31/2021 Intangible assets (2,869,705) 32,433 (2,837,272) Retirement plans 340,596 (340,596) - Loan Loss Reserves 6,403,000 (3,457,677) 2,945,323 Property, plant and equipment (3,462,205) (4,307,951) (7,770,156) Foreign Currency (126,072) 24,493 (101,579) Tax Loss Carry Forward 660,569 7,017,469 7,678,038 Repo transactions 7,418,431 (3,579,114) 3,839,317 Provisions 415,102 177,340 592,442 Others 846,278 988,825 1,835,103 Total 9,625,994 (3,444,778) 6,181,216 12/31/2022 Year of generation Amount Year Due Deferred Tax Assets 2019 9,601 2024 3,360 2020 2,338 2025 818 2021 15,715,468 2026 5,500,414 2022 18,846,152 2027 6,596,153 Total 34,573,558 12,100,745 |
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2022 | |
FINANCIAL INSTRUMENTS | |
FINANCIAL INSTRUMENTS | 5. FINANCIAL INSTRUMENTS Financial instruments held by Grupo Supervielle as of December 31, 2022 and 2021: Fair value Fair value through through Financial Instruments as of 12/31/2022 profit or loss Amortized Cost OCI Total Assets - Cash and due from banks — 48,399,468 — 48,399,468 - Debt securities at fair value through profit or loss 22,384,677 — — 22,384,677 - Derivatives 295,555 — — 295,555 - Reverse Repo transactions — 21,581,438 — 21,581,438 - Other financial assets 5,962,142 2,144,977 — 8,107,119 - Loans and other financing — 235,591,198 — 235,591,198 - Other debt securities — 59,999,337 209,735,714 269,735,051 - Financial assets pledged as collateral 14,381,760 86,905 — 14,468,665 - Investments in Equity Instruments 268,960 — 233,600 502,560 Total Assets 43,293,094 367,803,323 209,969,314 621,065,731 Liabilities - Deposits — 547,516,935 — 547,516,935 - Liabilities at fair value through profit or loss 2,139,170 — — 2,139,170 - Other financial liabilities 17,813,339 292,143 — 18,105,482 - Financing received from the Argentine Central Bank and other financial institutions — 5,529,676 — 5,529,676 - Unsubordinated debt securities — 561,409 — 561,409 Total Liabilities 19,952,509 553,900,163 — 573,852,672 Fair value Fair value through through Financial Instruments as of 12/31/2021 profit or loss Amortized Cost OCI Total Assets - Cash and due from banks — 63,452,161 — 63,452,161 - Debt securities at fair value through profit or loss 38,486,623 — — 38,486,623 - Derivatives 432,164 — — 432,164 - Reverse Repo transactions — 83,468,057 — 83,468,057 - Other financial assets 24,112,684 3,008,295 — 27,120,979 - Loans and other financing — 302,853,393 — 302,853,393 - Other debt securities — 16,044,300 137,706,426 153,750,726 - Financial assets pledged as collateral 15,749,311 885,898 — 16,635,209 - Investments in Equity Instruments 305,851 — 208,948 514,799 Total Assets 79,086,633 469,712,104 137,915,374 686,714,111 Liabilities - Deposits — 561,896,707 — 561,896,707 - Liabilities at fair value through profit or loss 3,999,525 — — 3,999,525 - Other financial liabilities 44,823,532 1,498,758 — 46,322,290 - Financing received from the Argentine Central Bank and other financial institutions — 12,179,537 — 12,179,537 - Unsubordinated debt securities — 2,063,327 — 2,063,327 Total Liabilities 48,823,057 577,638,329 — 626,461,386 |
FAIR VALUES
FAIR VALUES | 12 Months Ended |
Dec. 31, 2022 | |
FAIR VALUES | |
FAIR VALUES | 6. FAIR VALUES 6.1 Fair Value of Financial Instruments Fair value is defined as the amount by which an asset may be exchanged or a liability may be settled, in an arm’s length orderly transaction between knowledgeable principal market participants (or more advantageous) at the date of measurement of the current market conditions regardless of whether such price is directly observable or estimated utilizing a valuation technique under the assumption that Grupo Supervielle is a going concern. When a financial instrument is sold in a liquid and active market, its settled price in the market in a real transaction provides the best evidence of its fair value. When a stipulated price is not settled in the market or when it cannot be an indicator of a fair value of the instrument, in order to determine such fair value, another similar instrument’s fair value may be used, as well as the analysis of discounted flows or other applicable techniques. Such techniques are significantly affected by the assumptions used.Grupo Supervielle classifies fair values of financial instruments in a three level hierarchy according to the reliability of the inputs used to determine them. Fair Value level 1: The fair value of financial instruments traded in active markets (such as publicly-traded derivatives, debt securities or available for sale) is based on market quoted prices as of the date of the reporting period. If the quoted price is available and there is an active market for the instrument, it will be included in Level 1. Otherwise, it will be included in Level 2. Fair Value level 2: The fair value of financial instruments which are not traded in active markets, such as over-the-counter derivatives, is determined using valuation techniques that maximize the use of observable market data and rely the least possible on Grupo Supervielle’s specific estimates. If all significant inputs required to determine fair value a financial instrument are observable, such instrument is included in level 2. If the inputs used to determine the price are not observable, the instrument will be included in Level 3. Fair Value level 3: If one or more significant inputs are not based on observable market data, the instrument is included in Level 3. Grupo Supervielle’s financial instruments measured at fair value as of December 31, 2022 and 2021 are detailed below: Financial Instruments as of 12/31/2022 FV level 1 FV level 2 FV level 3 Total Assets - Debt securities at fair value through profit or loss 22,381,002 3,675 — 22,384,677 - Derivatives 295,555 — — 295,555 - Other financial assets 5,962,142 — — 5,962,142 - Other debt securities 7,375,294 202,360,420 — 209,735,714 - Financial assets pledged as collateral 14,381,760 — — 14,381,760 - Investments in Equity Instruments 268,960 — 233,600 502,560 Total Assets 50,664,713 202,364,095 233,600 253,262,408 Liabilities - Liabilities at fair value through profit or loss 2,139,170 — — 2,139,170 - Other financial liabilities 17,813,339 — — 17,813,339 Total Liabilities 19,952,509 — — 19,952,509 Financial Instruments as of 12/31/2021 FV level 1 FV level 2 FV level 3 Total Assets - Debt securities at fair value through profit or loss 37,879,808 606,815 — 38,486,623 - Derivatives 432,164 — — 432,164 - Other financial assets 24,112,684 — — 24,112,684 - Other debt securities 26,112,213 111,594,213 — 137,706,426 - Financial assets pledged as collateral 15,749,311 — — 15,749,311 - Investments in Equity Instruments 305,851 — 208,948 514,799 Total Assets 104,592,031 112,201,028 208,948 217,002,007 Liabilities - Liabilities at fair value through profit or loss 3,999,525 — — 3,999,525 - Other financial liabilities 44,823,532 — — 44,823,532 Total Liabilities 48,823,057 — — 48,823,057 Below is shown the reconciliation of the financial instruments classiffied as Fair Value Level 3: FV level 3 12/31/2021 Transfers Additions Disposals P/L 12/31/2022 Assets - Investments in equity instruments 208,948 — 86,273 (14,645) (46,976) 233,600 Grupo Supervielle’s policy is to recognize transfers between fair value levels only at end of period. Valuation Techniques Valuation techniques to determine fair values Level 2 and Level 3 include the following: ● Market or quoted prices for similar instruments. ● The estimated present value of instruments. The valuation technique to determine fair value Level 2 is based on inputs other than the quoted price included in Level 1 that are readily observable for the asset or liability (i.e., prices). For Level 2 and 3, Grupo Supervielle uses valuation techniques through spot rate curves which calculate the yield upon market prices. These valuation techniques are detailed below: ● Interpolation model: It consists of the determination of the value of financial instruments that do not have a market price at the closing date, based on quoted prices for similar assets (both in terms of issue, currency, and duration) in active markets ( MAE, Bolsar or secondary) through the linear interpolation of them. This technique has been used by the Entity to determine the fair value of the instruments issued by the Central Bank and Treasury Bills without quotation at the end of this period. ● Performance Curve Model under Nelson Siegel: This model proposes a continuous function to model the trajectory of the instant forward interest rate considering as a domain the term comprised until the next interest and / or capital payment. It consists in the determination of the instrument's price estimating volatility through market curves. The Entity has used this model to estimate prices in debt securities or financial instruments with variable interest rate that are not quoted in an active market. The principal inputs and method considered by Grupo Supervielle for its determination of fair values under the linear interpolation model are: ● Instrument prices that were quoted between the date the curve is estimated and the settlement date of the latest payment available. ● Implicit rates in the last available tender. ● Only instruments that have been traded with a 24-hour settlement are considered. ● If the same instrument has been listed on MAE (“Mercado Abierto Electrónico”) and Bolsar, only the market price that has been traded in the market with higher volume is considered ● The yield curve is standardized based on a set of nodes, each of which has an associated expiration date. ● Instruments denominated in U.S. dollars are converted at the exchange rate on the date the instrument is negotiated. Likewise, for the determination of fair values under the Nelson Siegel model, the main data and aspects considered by the Entity were: ● The Spot rate curves in pesos + BADLAR and the Spot rate curve in U.S. dollars are established based on bonds predefined by Financial Risk Management. ● The main source of prices for Bonds is MAE, without considering those corresponding to operations for own portfolio. ● The portfolio of bonds used as input is changed with every issuance. Grupo Supervielle periodically evaluates the performance of the models based on indicators which have defined tolerance thresholds. Under IFRS, the estimated residual value of an instrument at inception is generally the transaction price. In the event that the transaction price differs from the determined fair value, if the fair value is not level 1, the difference will be recognized in the income statement proportionally for the duration of the instrument. 6.2 Fair Value of other Financial Instruments The following describes the methodologies and assumptions used to determine the fair values of financial instruments not recorded at fair value in these consolidated financial statements: ● Assets whose fair value is similar to book value: For financial assets and liabilities that are liquid or have short-term maturities (less than three months), the book value is considered to be similar to fair value. ● Fixe d rate financial instruments: The fair value of financial assets was determined by discounting future cash flows at the current market rates offered, for each year, for financial instruments with similar characteristics. The estimated fair value of deposits with a fixed interest rate was determined by discounting future cash flows through the use of market interest rates for deposits with maturities similar to those of Grupo Supervielle’s portfolio. ● For listed assets and the quoted debt, fair value was determined based on market prices. Below is the difference between the carrying amount and the fair value of the main assets and liabilities recorded at amortized cost as of December 31, 2022 and 2021, respectively: Other Financial Instruments as of 12/31/2022 Book value Fair value FV Level 1 FV Level 2 FV Level 3 Financial Assets - Cash and due from Banks 48,399,468 48,399,468 48,399,468 — — - Other financial assets 2,144,977 2,144,977 2,144,977 — — - Loans and other financing 235,591,198 236,377,924 — — 236,377,924 - Reverse Repo transactions 21,581,438 21,581,438 21,581,438 — — - Other Debt Securities 59,999,337 62,210,455 32,701,755 29,508,700 — - Financial assets Pledged as collateral 86,905 86,905 86,905 — — 367,803,323 370,801,167 104,914,543 29,508,700 236,377,924 Financial Liabilities - Deposits 547,516,935 562,018,078 — — 562,018,078 - Other financial liabilities 292,143 292,143 292,143 — — - Financing received from the Central Bank and other financial institutions 5,529,676 8,681,274 — — 8,681,274 - Unsubordinated Debt securities 561,409 561,409 561,409 — — - Subordinated Debt securities — — — — — 553,900,163 571,552,904 853,552 — 570,699,352 Other Financial Instruments as of 12/31/2021 Book value Fair value FV Level 1 FV Level 2 FV Level 3 Financial Assets - Cash and due from Banks 63,452,161 63,452,161 63,452,161 — — - Other financial assets 3,008,295 3,008,294 3,008,294 — — - Loans and other financing 302,853,393 328,871,032 — — 328,871,032 - Reverse Repo transactions 83,468,057 83,468,057 83,468,057 — — - Other Debt Securities 16,044,300 16,044,301 16,044,301 — — - Financial assets Pledged as collateral 885,898 885,898 885,898 — — 469,712,104 495,729,743 166,858,711 — 328,871,032 Financial Liabilities - Deposits 561,896,707 564,592,298 — — 564,592,298 - Other financial liabilities 1,498,758 1,498,758 1,498,758 — — - Financing received from the Central Bank and other financial institutions 12,179,537 12,895,022 — — 12,895,022 - Unsubordinated Debt securities 2,063,327 2,063,327 2,063,327 — — - Subordinated Debt securities — — — — — 577,638,329 581,049,405 3,562,085 — 577,487,320 6.3 Fair Value of Equity instruments The following are the equity instruments measured at Fair Value through profit or loss as of December 31, 2022 and 2021: 12/31/2022 12/31/2021 Grupo Financiero Galicia S.A. 5,026 31,699 Pampa Holding S.A 46,530 48,116 Loma Negra S.A. 33,016 31,334 YPF SA 45,593 18,755 Ternium Argentina S.A. 13,738 65,160 Aluar S.A 54,284 35,337 Transener S.A. 5,564 14,200 Others 65,209 61,250 Total 268,960 305,851 The following are the equity instruments measured at Fair Value through Other Comprehensive Income as of December 31, 2022 and 2021: FV at Income FV at Detail 12/31/2021 through OCI Disposals Additions 12/31/2022 Mercado Abierto Electrónico S.A. 89,112 3,384 - - 92,496 Play Digital S.A. 71,989 (55,626) (14,645) 86,272 87,990 Seguro de Depósitos S.A 13,701 (3,057) - - 10,644 Compensador Electrónica S.A. 22,072 10,616 - - 32,688 Provincanje S.A. 8,627 (1,373) - - 7,254 Cuyo Aval Sociedad de Garantía Recíproca 2,715 (842) - - 1,873 Argencontrol S.A. 306 18 - - 324 IEBA S.A. 119 (58) - - 61 Otras Sociedades de Garantía Recíproca 307 (37) - - 270 Total 208,948 (46,975) (14,645) 86,272 233,600 FV at Income FV at Detail 12/31/2020 through OCI Disposals Additions 12/31/2021 Mercado Abierto Electrónico S.A. 13,554 75,558 — — 89,112 Play Digital S.A. 58,670 (102,057) — 115,376 71,989 Seguro de Depósitos S.A 4,745 8,956 — — 13,701 Compensador Electrónica S.A. 2,704 19,368 — — 22,072 Provincanje S.A. 802 7,825 — — 8,627 Cuyo Aval Sociedad de Garantía Recíproca 4,223 (1,508) — — 2,715 Argencontrol S.A. 368 (62) — — 306 Los Grobo Sociedad de Garantía Recíproca 214 (214) — — — IEBA S.A. 179 (60) — — 119 Otras Sociedades de Garantía Recíproca 391 (84) — — 307 Total 85,850 7,722 — 115,376 208,948 |
FINANCE LEASES
FINANCE LEASES | 12 Months Ended |
Dec. 31, 2022 | |
FINANCE LEASES | |
FINANCE LEASES | 7. FINANCE LEASES 7.1 The Group as lessee (i) The following table shows the carrying amount in the statement of financial position: 12/31/2022 12/31/2021 Right-of-use asset Land and buildings 5,424,368 6,163,928 Lease liability Current 960,674 1,604,291 Non-current 607,788 1,041,516 Total 1,568,462 2,645,807 (ii) The following table shows the amounts charged in the income statement: Items 12/31/2022 Right-of-use assets – Depreciation 1,914,585 Interest expenses on lease liabilities (Other operating expenses) 499,393 (iii) Lease activities: Grupo Supervielle leases several branches. Rental agreements are generally made for fixed periods of 1 to 3 years, but may have extension options as described in (iv) below. Contracts may contain lease components or not. Grupo Supervielle assigns consideration in the contract to the lease and non-lease components based on their independent relative prices. However, for the leases of real estate for which Grupo Supervielle is a lessee, it has chosen not to separate the lease components and those that are not, and instead counts them as a single lease component. Lease terms are negotiated individually and contain a wide range of different terms and conditions. Lease agreements do not impose other obligations to do or not do, other than the leased assets owned by the lessor. Leased assets cannot be used as collateral for obtaining loans. The leases are recognized as a right-of-use asset by registering a liability as a counterparty on the date on which the leased asset is available for use by the Entity. Assets and liabilities arising from leases are initially measured based on the present value. Lease liabilities include the net present value of the following lease payments: ● fixed payments (including fixed payments in substance), less any incentives receivable; ● variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; ● amounts expected to be payable by Grupo Supervielle under residual value guarantees; ● the exercise price of a purchase option if Grupo Supervielle is reasonably certain to exercise that option, and ● payments of penalties for terminating the lease, if the lease term reflects Grupo Supervielle exercising an option to terminate the lease. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. Lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be easily determined, which is generally the case with leases in Grupo Supervielle, the lessee’s incremental borrowing rate is used, which is the rate that the individual lessee would have to pay to borrow the necessary funds to obtain an asset of similar value to the asset by right of use in a similar economic environment with similar terms, security and conditions. To determine the incremental interest rate, Grupo Supervielle: ● whenever possible, uses the external financing recently received as a starting point, adjusted to reflect changes in financing conditions since the external financing was received. ● uses a rate determination approach that begins with a risk-free interest rate adjusted for credit risk for leases that the Entity already has for those cases in which it does not have recent third-party financing, and ● makes specific adjustments for the lease, for example, term, currency and guarantee. Grupo Supervielle is exposed to possible future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they become effective. When adjustments to lease payments based on an index or rate become effective, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between capital and financial cost. The financial cost is charged to profit or loss during the lease period to produce a constant periodic interest rate on the remaining balance of the liability for each period. The right-of-use assets are measured at cost comprising the following: ● the amount of the initial measurement of the lease liability; ● any lease payment made at or before the commencement date, less any lease incentives received; ● any initial direct costs, and ● an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. The right-of-use assets are generally depreciated during the shortest useful life of the asset and the lease term in a linear fashion. Payments associated with short-term leases of equipment and all leases of low-value assets are recognized linearly as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less and that does not contains a purchase option. Low-value assets include computer equipment and small items of office furniture. (iv) Extension and termination options Extension and termination options are included in several property leases. These are used to maximize operational flexibility in terms of managing the assets used in operations. Most of the extension and termination options maintained are exercisable only by Grupo Supervielle and not by the respective lessor. 7.2 The Group as lessor The following is a breakdown of the maturities of Grupo Supervielle’s financial and operating leases receivables and of the current values as of December 31, 2022 and 2021: Financial Lease Receivables 12/31/2022 12/31/2021 Up to 1 year 7,670,806 6,856,845 More than a year up to two years 6,865,284 5,763,027 From two to three years 4,676,715 4,381,479 From three to five years 2,805,005 2,656,452 More than five years 204,987 28,987 Total 22,222,797 19,686,790 Unearned financial income (11,533,816) (8,005,394) Net investment in the lease 10,688,981 11,681,396 The balance of allowance for loan losses related to finance leases amounts to 90,056 and 314,852 as of December 31, 2022 and 2021: Operating Lease Receivables 12/31/2022 12/31/2021 Up to 1 year 55,908 27,151 More than a year up to two years 74,929 17,925 From two to three years 27,138 - Total 157,975 45,076 |
REPO AND REVERSE REPO TRANSACTI
REPO AND REVERSE REPO TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
REPO AND REVERSE REPO TRANSACTIONS | |
REPO AND REVERSE REPO TRANSACTIONS | 8. REPO AND REVERSE REPO TRANSACTIONS Grupo Supervielle carries out repo transactions in which it performs the spot sale of a security with the related forward purchase thereof, thus substantially retaining all the risks and rewards associated with the instruments and recognizing them in " Repo Transactions " at year-end, as the provisions set out in point 3.4.2 (Derecognition of Assets) of IFRS 9 "Financial Instruments") are not met. The residual values of assets transferred under reverse repo transactions as of December 31, 2022 and 2021 are detailed below: Reverse Repo Transactions: Book Value December 31, 2022 21,581,438 December 31, 2021 83,468,057 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 12 Months Ended |
Dec. 31, 2022 | |
DERIVATIVE FINANCIAL INSTRUMENTS | |
DERIVATIVE FINANCIAL INSTRUMENTS | 9. DERIVATIVE FINANCIAL INSTRUMENTS In the normal course of business, Grupo Supervielle enters into a variety of transactions principally in the foreign exchange stock markets. Most counterparties in the derivative transactions are banks and other financial institutions. These instruments include: ● Forwards and futures: they are agreements to deliver or take delivery at a specified rate, price or index applied against the underlying asset or financial instrument, at a specific date. Futures are exchange traded at standardized amounts of the underlying asset or financial instrument. Forwards contracts are OTC agreements and are principally dealt in by Grupo Supervielle in foreign exchange as forward agreements. ● Swaps: they are agreements between two parties with the intention to exchange cash flows and risks at specific date and for a period in the future. ● Options: they confer the right to the buyer, but no obligation, to receive or pay a specific quantity of an asset or financial instrument for a specified price at or before a specified date. As of December 31, 2022 and 2021, the following amounts were recorded for operations related to derivatives: 12/31/2022 12/31/2021 Amounts receivable for spot and forward transactions pending settlement 203,748 417,814 Amounts payable for spot and forward transactions pending settlement 58,758 14,350 Put option taken 33,049 — 295,555 432,164 The following table shows, the notional value of options and outstanding forward and futures contracts as of December 31, 2022 and 2021: 12/31/2022 12/31/2021 Forward sales of foreign exchange without delivery of underlying assets 13,516,700 7,561,427 Forward purchases of foreign exchange without delivery of underlying assets 4,009,654 3,465,396 The incomes/(expenses) generated by derivative financial instruments during the years ended December 31, 2022, 2021 and 2020 amounted to 663,196, 3,086,983 and 529,541 respectively. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2022 | |
EARNINGS PER SHARE | |
EARNINGS PER SHARE | 10. EARNINGS PER SHARE Earnings per share are calculated by dividing income attributable to Grupo Supervielle´s shareholders by the weighted average number of outstanding common shares during the period. As Grupo Supervielle does not have preferred shares or debt convertible into shares, basic earnings are equal to diluted earnings per share. 12/31/2022 12/31/2021 12/31/2020 Income attributable to shareholders of the group (5,028,955) (3,378,763) 10,290,495 Weighted average of ordinary shares (thousands) 454,274 456,722 456,722 Income per share (11.07) (7.40) 22.53 |
SPECIAL TERMINATION ARRANGEMENT
SPECIAL TERMINATION ARRANGEMENTS | 12 Months Ended |
Dec. 31, 2022 | |
SPECIAL TERMINATION ARRANGEMENTS | |
SPECIAL TERMINATION ARRANGEMENTS | 11. SPECIAL TERMINATION ARRANGEMENTS As of December 31, 2022 and 2021, special termination arrangements amounted to Ps. 2,383,462 and Ps. 3,057,602, respectively. The amounts charged to profit or loss regarding these benefits as of December 31, 2022 and 2021 were Ps. 1,672,716 and Ps. 972,190, respectively including in Other non-financial liabilities. The evolution during each period is detailed below: 12/31/2022 12/31/2021 Balances at the beginning 3,057,602 3,371,032 Additions to profit or loss 1,672,716 972,190 Benefits paid to participants (2,346,856) (1,285,620) Balances at closing 2,383,462 3,057,602 |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2022 | |
PROPERTY, PLANT AND EQUIPMENT | |
PROPERTY, PLANT AND EQUIPMENT | 12. PROPERTY, PLANT AND EQUIPMENT Changes in property, plant and equipment for financial years ended on December 31, 2022 and 2021 are as follows: Gross carrying amount Depreciation At the Net beginning Additions by At the At the Additions by carrying of the Useful business end of beginning business Of the Other At the end amount Item year Life Revaluation Additions combinations Disposals the year of the year Disposals combinations Year Movements of the year 12/31/2022 Cost model Furniture and facilities 4,373,754 10 — 144,217 — — 4,517,971 (3,476,022) 58,292 — (301,972) — (3,719,702) 798,269 Machinery and equipment 16,013,931 5 — 340,487 — (227,007) 16,127,411 (13,454,550) 211,837 — (1,116,499) — (14,359,212) 1,768,199 Vehicles 799,959 5 — 247,011 — (295,481) 751,489 (364,862) 182,719 — (147,336) — (329,479) 422,010 Right of use assets 6,163,928 3 — 1,141,638 — (1,881,198) 5,424,368 (3,008,407) 1,817,423 — (1,914,585) — (3,105,569) 2,318,799 Construction in progress 2,709,633 0 — 1,112,246 — (1,412,578) 2,409,301 — — — — — — 2,409,301 Revaluation model Land and Buildings 12,184,688 50 (838,547) 2,733 — (9,133) 11,339,741 (446,796) — — (235,731) — (682,527) 10,657,214 Total 42,245,893 — (838,547) 2,988,332 — (3,825,397) 40,570,281 (20,750,637) 2,270,271 — (3,716,123) — (22,196,489) 18,373,792 Gross carrying amount Depreciation At the Net beginning Additions by At the At the Additions by carrying of the Useful business end of beginning business Of the Other At the end amount Item year Life Revaluation Additions combinations Disposals the year of the year Disposals combinations Year Movements of the year 12/31/2021 Cost model Furniture and facilities 4,176,818 10 — 287,552 — (90,616) 4,373,754 (3,336,482) 134,836 — (274,376) — (3,476,022) 897,732 Machinery and equipment 15,250,202 5 — 1,133,404 — (369,675) 16,013,931 (12,843,400) 318,508 — (929,658) — (13,454,550) 2,559,381 Vehicles 766,998 5 — 193,116 — (160,155) 799,959 (353,158) 139,341 — (151,045) — (364,862) 435,097 Right of use assets 6,312,483 3 — 2,347,367 — (2,495,922) 6,163,928 (2,783,748) 1,839,911 — (2,064,570) — (3,008,407) 3,155,521 Construction in progress 1,877,037 0 — 1,687,251 — (854,655) 2,709,633 — — — — — — 2,709,633 Revaluation model Land and Buildings 12,357,041 50 204,632 8,997 — (385,982) 12,184,688 (537,390) 357,036 — (266,442) — (446,796) 11,737,892 Total 40,740,579 — 204,632 5,657,687 — (4,357,005) 42,245,893 (19,854,178) 2,789,632 — (3,686,091) — (20,750,637) 21,495,256 12.1 Revaluation of Property, Plant and Equipment Grupo Supervielle´s properties, plant and equipment measured at revaluation model were valued at each reporting date by an independent expert. The frequency of revaluations ensures fair value of the revalued asset does not differ materially from its carrying amount. The last revaluation was made on December 31, 2022. The following are the book values that would have been recognized if the assets had been accounted under the cost model: Residual Value according to Revaluation Revalued the cost Class date amount model Difference Land and buildings 12/31/2022 10,657,214 7,089,416 3,567,798 Land and buildings 12/31/2021 11,737,892 7,332,405 4,405,487 |
INVESTMENT PROPERTIES
INVESTMENT PROPERTIES | 12 Months Ended |
Dec. 31, 2022 | |
INVESTMENT PROPERTIES | |
INVESTMENT PROPERTIES | 13. The movements in investment properties for the years ended December 31, 2022 and 2021 were as follows: At the P/L for Beginning Total useful changes As of Item of the year life Additions in the FV Additions Disposals of the year 12/31/2022 Cost model Rented properties 273,697 5 — — 62,801 (29,163) (44,947) 262,388 Measurement at fair value Rented properties 16,669,654 50 (803,858) 774,868 — — 16,640,664 TOTAL INVESTMENT PROPERTIES 16,943,351 — (803,858) 837,669 (29,163) (44,947) 16,903,052 At the P/L for Beginning Total useful changes As of Item of the year life Additions in the FV Additions Disposals of the year 12/31/2021 Cost model Rented properties 106,668 5 — — 182,496 — (15,467) 273,697 Measurement at fair value Rented properties 17,528,731 50 (859,077) — — — 16,669,654 TOTAL INVESTMENT PROPERTIES 17,635,399 — — (859,077) 182,496 — (15,467) 16,943,351 Investment properties are measured at fair value which is determined by an independent expert. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2022 | |
INTANGIBLE ASSETS | |
INTANGIBLE ASSETS | 14. INTANGIBLE ASSETS Intangible assets of Grupo Supervielle for fiscal years ended on December 31, 2022 and 2021 are as follows: Gross carrying amount Depreciation At the Additions At the At the At the Net carrying beginning by business End of the beginning By business End of the amount at Item of the year Additions combinations Impairment Disposals year of the year Disposals combinations Of the year year 12/31/2022 Measurement at cost Goodwill 10,702,288 — — (738,774) — 9,963,514 — — — — — 9,963,514 Brands 588,043 — — — — 588,043 — — — — — 588,043 Other intangible assets(*) 22,834,174 5,686,409 — — (182,978) 28,337,605 (11,875,023) 156,023 — (4,894,310) (16,613,310) 11,724,295 TOTAL 34,124,505 5,686,409 — (738,774) (182,978) 38,889,162 (11,875,023) 156,023 — (4,894,310) (16,613,310) 22,275,852 Gross carrying amount Depreciation At the Additions At the At the At the Net carrying beginning by business End of the beginning By business End of the amount at Item of the year Additions combinations Impairment Disposals year of the year Disposals combinations Of the year year 12/31/2021 Measurement at cost Goodwill 10,702,288 — — — — 10,702,288 — — — — — 10,702,288 Brands 588,043 — — — — 588,043 — — — — — 588,043 Other intangible assets(*) 16,580,162 6,288,154 — — (34,142) 22,834,174 (7,928,203) 11,393 — (3,958,213) (11,875,023) 10,959,151 TOTAL 27,870,493 6,288,154 — — (34,142) 34,124,505 (7,928,203) 11,393 — (3,958,213) (11,875,023) 22,249,482 (*)mainly include systems and programs. 14.1 Goodwill impairment Goodwill is assigned to Grupo Supervielle’s cash generating units on the basis of the operating segments. 12/31/2022 12/31/2021 Supervielle Seguros S.A. 28,479 28,479 IUDÚ Compañia Financiera S.A — 717,333 Banco Regional de Cuyo S.A. 149,316 149,316 InvertirOnline S.A.U. / Portal Integral de Inversiones S.A.U. 5,427,807 5,427,807 Micro Lending S.A.U. 4,273,695 4,273,695 Supervielle Agente de Negoación S.A.U. 15,075 15,075 DolarIOL S.A.U. — 21,441 Others 69,142 69,142 TOTAL 9,963,514 10,702,288 The recoverable amount of a cash generating unit is determined on the basis of its value in use. These method uses cash flow projections based on approved financial budgets covering a period of zero years The key assumptions are related to marginal contribution margins. These were determined on the basis of historic performances, other external sources of information and the expectations of market development. The discount rates used were 15% and are the respective average cost of capital (“WACC”), which is considered a good indicator of the cost of capital. For each cash generating unit, where the assets are assigned, a specific WACC was determined considering the industry and the size of the business. The main macroeconomic premises used are detailed below: Real Forecast Forecast Forecast Forecast Forecast 2022 2023 2024 2025 2026 2027 Inflation (end of period) 95.0 % 91.0 % 60.6 % 41.1 % 35.6 % 35.6 % Inflation (average) 72.4 % 93.0 % 73.3 % 48.1 % 37.6 % 35.6 % Cost of funding (average) 53.2 % 73.4 % 52.4 % 37.8 % 33.2 % 33.2 % Loan’s interest rate (average) 58.5 % 87.7 % 72.8 % 52.8 % 47.9 % 47.9 % The goodwill values recorded as of December 31, 2022 and 2021, have been tested as for impairment as of the date of the financial statements. As of December 31, 2022, an impairment was identified in in the goodwill of IUDU Compañía Financiera S.A. and Dollar IOL S.A. The sensitivity analysis for the cash-generating unit to which the Goodwill was allocated was based on a 1% increase in the weighted average cost of capital. Grupo Supervielle concluded that no additional impairment loss would need to be recognized on the Goodwill in the segment under these conditions. |
COMPOSITION OF THE MAIN ITEMS O
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | 12 Months Ended |
Dec. 31, 2022 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | 15.1 Debt securities at fair value through profit or loss 12/31/2022 12/31/2021 Government securities 15,745,113 37,147,434 Corporate securities 6,639,564 606,816 Securities issued by the Central Bank — 732,373 22,384,677 38,486,623 15. 2 Derivatives 12/31/2022 12/31/2021 Debtor balances related to forward operations in foreign currency to be settled in pesos 203,748 417,814 Debtor balances related to forward operations in foreign currency 58,758 14,350 Put option taken 33,049 — 295,555 432,164 15.3 Other financial assets 12/31/2022 12/31/2021 Participation Certificates in Financial Trusts 158,401 167,559 Investments in Asset Management and Other Services 2,164,184 4,019,951 Other investments 1,030,662 1,010,815 Receivable from spot sales pending settlement 2,395,315 19,210,706 Several debtors 2,191,456 1,357,424 Miscellaneous debtors for credit card operations 167,101 1,257,067 Miscellaneous debtors for collections — 97,457 8,107,119 27,120,979 15.4 Other debt securities 12/31/2022 12/31/2021 Debt securities 5,658,969 429,369 Government securities 36,917,618 42,167,720 Securities issued by the Central Bank 227,158,416 111,153,464 Others 48 173 269,735,051 153,750,726 15.5 Financial assets pledged as collateral 12/31/2022 12/31/2021 Special guarantees accounts in the Argentine Central Bank 10,294,615 12,691,876 Deposits in guarantee 4,174,050 3,943,333 14,468,665 16,635,209 15.6 Inventories 12/31/2022 12/31/2021 Electronics 67,090 271,602 Obsolescence Reserve — (5,174) 67,090 266,428 15.7 Other non-financial assets 12/31/2022 12/31/2021 Other Miscellaneous assets 2,470,942 2,443,232 Loans to employees 860,120 451,903 Payments in advance 1,333,131 1,539,540 Other non-financial assets 137,373 128,184 Retirement Plan 124,568 135,709 Works of art and collector's pieces 82,705 95,094 5,008,839 4,793,662 15.8 Deposits 12/31/2022 12/31/2021 Non-financial sector 27,843,116 22,352,551 Financial sector 101,430 76,162 Current accounts 50,574,131 61,528,491 Savings accounts 271,188,474 305,671,184 Time deposits and investments accounts 150,744,921 163,834,532 Others 47,064,863 8,433,787 547,516,935 561,896,707 15.9 Liabilities at fair value through profit or loss 12/31/2022 12/31/2021 Liabilities for transactions in local currency 1,270,093 2,657,571 Liabilities for transactions in foreign currency 869,077 1,341,954 2,139,170 3,999,525 15.10 Other financial liabilities 12/31/2022 12/31/2021 Amounts payable for spot transactions pending settlement 2,062,722 25,036,289 Collections and other operations on behalf of third parties 14,386,907 17,519,227 Fees accrued to pay 3,680 13,304 Financial guarantee contracts 24,402 27,661 Liabilities associated with the transfer of financial assets not derecognized — 1,074,393 Lease liability 1,568,462 2,645,807 Others 59,309 5,609 18,105,482 46,322,290 15.11 Financing received from the Argentine Central Bank and other financial institutions 12/31/2022 12/31/2021 Financing received from local financial institutions 3,819,232 2,017,925 Financing received from international institutions 1,710,444 10,161,612 5,529,676 12,179,537 15.12 Provisions 12/31/2022 12/31/2021 Eventual commitments 87,249 116,256 Unused Balances of Credit Cards 455,424 404,901 Other contingencies 1,148,983 1,258,612 1,691,656 1,779,769 15.13 Other non-financial liabilities 12/31/2022 12/31/2021 Payroll and social securities 11,318,832 12,182,997 Sundry creditors 9,206,832 11,513,613 Revenue from contracts with customers (1) 328,012 357,894 Tax payable 7,085,989 6,739,675 Social security payment orders pending settlement 748,064 785,876 Other 107,664 120,343 28,795,393 31,700,398 (1) Deferred income resulting from contracts with customers includes the liability for the customers’ loyalty program. Grupo Supervielle estimates the value of the points granted to customers through the application of a mathematical model that considers assumptions about redemption rates, the fair value of points redeemed based on the combination of available products, and customer preferences, as well as the expiration of un-redeemed points. 15.14 Interest Income 12/31/2022 12/31/2021 12/31/2020 Interest on overdrafts 7,537,097 6,103,081 7,875,342 Interest on promissory notes 20,561,099 21,806,715 18,307,059 Interest on personal loans 29,590,308 37,793,670 41,673,623 Interest on corporate unsecured loans 16,284,814 13,476,675 17,587,964 Interest on credit card loans 14,730,148 11,546,621 11,227,684 Interest on mortgage loans 18,113,794 13,757,962 11,745,104 Interest on automobile and other secured loan 4,213,953 3,016,404 2,171,083 Interest on foreign trade loans 1,287,776 2,422,345 4,272,549 Interest on financial leases 4,580,097 3,080,043 2,071,129 Interest on public and private securities measured at amortized cost 124,280,620 53,904,404 60,345,952 Others 10,694,120 34,570,333 12,955,694 Total 251,873,826 201,478,253 190,233,183 15.15 Interest Expenses 12/31/2022 12/31/2021 12/31/2020 Interest on current accounts deposits 67,816,547 41,178,718 18,597,380 Interest on time deposits 94,781,418 73,231,650 57,555,195 Interest on other financial liabilities 1,274,421 2,693,801 6,721,267 Interest from financing from financial sector 1,077,969 356,084 296,475 Others 555,986 388,664 857,006 Total 165,506,341 117,848,917 84,027,323 15.16 Net income from financial instruments at fair value through profit or loss 12/31/2022 12/31/2021 12/31/2020 Income from corporate and government securities 16,522,687 13,548,213 8,820,689 Income from securities issued by the Argentine Central Bank 1,060,836 680,886 398,377 Derivatives 663,196 3,086,983 529,542 Total 18,246,719 17,316,082 9,748,608 15.17 Service fee income 12/31/2022 12/31/2021 12/31/2020 Commissions from deposits accounts 12,250,189 12,655,098 13,605,729 Commissions from credit and debit cards 9,546,677 9,714,194 10,036,236 Commissions from loans operations 305,141 308,447 484,704 Others Commissions 8,237,061 9,785,059 9,667,934 Total 30,339,068 32,462,798 33,794,603 15.18 Service fee expenses 12/31/2022 12/31/2021 12/31/2020 Commissions paid 10,470,112 9,657,854 10,202,182 Export and foreign currency operations 253,043 238,577 230,580 Total 10,723,155 9,896,431 10,432,762 15.19 Income from insurance activities 12/31/2022 12/31/2021 12/31/2020 Accrued premiums 6,420,960 6,957,274 6,765,070 Accrued losses (1,017,709) (1,357,796) (907,941) Production expenses (876,879) (1,175,246) (942,651) Total 4,526,372 4,424,232 4,914,478 15.20 Other operating income 12/31/2022 12/31/2021 12/31/2020 Loans recovered and allowances reversed 3,252,298 3,338,184 1,683,227 Insurance commissions — 493 151,497 Rental from safety boxes 762,668 748,974 1,000,573 Returns of risk funds 1,562,986 2,416,374 3,574,582 Commissions from trust services 81,322 86,860 28,339 Adjustment of various credits 437,737 333,772 626,057 Sale of fixed assets 28,614 17,444 393,942 Others 4,365,792 3,531,683 3,654,276 Total 10,491,417 10,473,784 11,112,493 15.21 Personnel expenses 12/31/2022 12/31/2021 12/31/2020 Payroll and social securities 49,541,757 46,179,965 49,051,781 Others expenses 4,350,789 3,670,186 4,392,569 Total 53,892,546 49,850,151 53,444,350 15.22 Administrative expenses 12/31/2022 12/31/2021 12/31/2020 Directors´ and statutory auditors’fees 797,886 792,637 1,004,188 Professional fees 8,305,036 8,755,543 8,949,970 Advertising and publicity 2,213,501 2,237,122 2,024,957 Taxes 6,451,913 6,586,781 5,462,877 Maintenance, security and services 6,923,964 8,019,296 8,301,300 Rent 78,955 152,868 211,843 Others 3,791,566 3,367,374 4,383,899 Total 28,562,821 29,911,621 30,339,034 15.23 Depreciation and impairment of non-financial assets 12/31/2022 12/31/2021 12/31/2020 Depreciation of property, plant and equipment 1,801,538 1,621,521 1,538,369 Depreciation of other non-financial assets 749,390 585,375 688,436 Depreciation of intangible assets 4,894,310 3,958,213 2,555,881 Depreciation of right-of-use assets 1,914,585 2,064,570 2,294,554 Impairment of other non-financial assets — 610 — Impairment of goodwill 738,774 — — Total 10,098,597 8,230,289 7,077,240 15.24 Other operating expenses 12/31/2022 12/31/2021 12/31/2020 Promotions related with credit cards 1,734,064 1,771,342 1,544,669 Turnover tax 17,218,668 15,858,707 11,615,533 Fair value on initial recognition of loans 154,086 383,330 574,696 Contributions made to deposit insurance system 895,057 957,301 852,123 Others 6,627,215 4,108,505 4,744,408 Total 26,629,090 23,079,185 19,331,429 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2022 | |
COMMITMENTS AND CONTINGENCIES | |
COMMITMENTS AND CONTINGENCIES | 16. COMMITMENTS AND CONTINGENCIES The provisions recorded are detailed below: 12/31/2022 12/31/2021 Legal issues 197,158 141,755 Labor lawsuits 580,669 624,610 Tax 181,830 277,032 Unused Balances of Credit Cards 455,424 404,901 Charges to be paid to National Social Security Administration 135,676 105,301 Judicial Deposits 47,448 53,373 Eventual commitments 87,249 116,256 Others 6,202 56,541 Total 1,691,656 1,779,769 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | 17. RELATED PARTY TRANSACTIONS Related parties are those entities that directly, or indirectly through other entities, have control over another, are under the same controlling party or may have significant influence on another entity’s financial or operating decisions. Grupo Supervielle controls another entity when it has power over other entities’ financial and operating decisions and also receives benefits from such entity. The subsidiaries that Grupo Supervielle has control are detailed in Note 1.2. On the other hand, Grupo Supervielle considers that it has joint control when there is an agreement to share control of an entity and decisions about relevant activities require unanimous consent of the parties sharing control. Finally, those cases in which Grupo Supervielle has significant influence is due to the power to influence the financial and operating decisions of another entity but not being able to exercise control over them. To determine these situations, not only the legal aspects are observed, but also the nature and substantiation of the relationship. Furthermore, the key personnel of Grupo Supervielle’s Management (Board of Directors members and Managers of Grupo Supervielle and its subsidiaries) are considered as related parties. Controlling Interest Mr. Julio Patricio Supervielle is the main shareholder of Grupo Supervielle. Julio Patricio Supervielle´s interest in share capital and votes of Grupo Supervielle as of December 31, 2022 2021 Remuneration of key personnel The remuneration received by the key personnel of Grupo Supervielle as of December 31, 2022 and 2021 amounts to 1.279.0 million and 1.373.5 million respectively. Transactions with related parties The financings, including those that were restructured, were granted in the normal course of business and on substantially the same terms, including interest rates and guarantees, as those in force at the time to grant credit to non-related parties. Likewise, they did not imply a risk of bad debts greater than normal nor did they present any other type of unfavorable conditions. The following table presents the aggregate amounts of total consolidated financial exposure of the Bank to related parties, the number of recipients, the average amounts and the single largest exposures as of December 31, 2022 and 2021: As of As of December 31, 2022 December 31, 2021 Aggregate total financial exposure 673,747 476,728 Number of recipient related parties 80 79 (a) Individuals 70 69 (b) Companies 10 10 Average total financial exposure 8,422 6,035 Single largest exposure 358,255 446,417 |
INSURANCE
INSURANCE | 12 Months Ended |
Dec. 31, 2022 | |
INSURANCE | |
INSURANCE | 18. INSURANCE a. Assets and liabilities related to insurances activities 12/31/2022 12/31/2021 Assets related to insurance contracts ( (i) included withinLoans and other financing) Commissions receivables 1,754,250 1,673,423 Receivables premiums 2,089 5,931 Total 1,756,339 1,679,354 Liabilities related to insurance contracts ( (ii) included withinOther non-financial liabilities) Debt with insured 304,775 380,369 Debt with reinsurers 64,079 51,505 Debt with producers 334,779 484,538 Technical commitments 746,211 677,896 Outstanding claims paid by re-insurance companies (1,621) (2,734) commissions to pay 4,217 6,910 Total 1,452,440 1,598,484 Debt with insured Property insurance Direct administrative insurance 79,020 73,772 Direct insurance in mediation - 49 Claims settled to pay 140 273 Direct insurance in judgments 2,664 5,141 Claims occurred and not reported - IBNR 551 13,986 Life insurance Direct administrative insurance 119,722 160,973 Direct insurance in judgments 2,041 2,823 Direct insurance in mediation 383 793 Claims settled to pay 20,884 32,396 Claims occurred and not reported - IBNR 79,370 90,163 Total 304,775 380,369 Debt with producers Producers current account 37,480 45,063 Commissions for premiums receivable 297,299 439,475 Total 334,779 484,538 Technical commitments Course and similar risk Premiums and surcharges 746,115 667,367 Premium insufficiency 96 10,529 Total 746,211 677,896 b. Income from insurances activities The composition of the item “Result for insurance activities” as of December 31, 2022 and 2021 is disclosed in Note 15.19. |
ASSET MANAGEMENT AND OTHER SERV
ASSET MANAGEMENT AND OTHER SERVICES | 12 Months Ended |
Dec. 31, 2022 | |
ASSET MANAGEMENT AND OTHER SERVICES | |
ASSET MANAGEMENT AND OTHER SERVICES | 19. ASSET MANAGEMENT AND OTHER SERVICES As of December 31, 2022 and 2021 , Banco Supervielle S.A. is the depository of the Asset managed by Supervielle Asset Management S.A. Portfolio Net Worth Number of Units Asset Management and Other Service 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Premier Renta C.P. Pesos 101,661,606 98,135,716 101,528,063 97,995,350 16,191,115,975 11,713,447,317 Premier Renta Plus en Pesos 671,186 580,351 669,226 576,890 21,721,110 15,706,691 Premier Renta Fija Ahorro 12,905,041 17,957,707 12,775,831 17,840,745 712,483,562 2,136,780,683 Premier Renta Fija Crecimiento 205,918 222,501 205,377 221,883 4,920,585 4,571,392 Premier Renta Variable 599,412 798,301 584,246 792,070 5,946,886 8,944,577 Premier FCI Abierto Pymes 1,282,598 2,028,648 1,236,395 2,024,425 75,458,259 99,988,028 Premier Commodities 1,048,467 582,665 804,068 439,031 24,979,798 15,200,277 Premier Capital 6,688,744 2,801,114 6,650,992 2,768,095 476,377,885 180,998,028 Premier Inversión 1,264,380 2,563,981 1,263,772 2,562,732 1,052,023,732 1,965,594,347 Premier Balanceado 1,689,536 2,343,765 1,370,786 2,341,934 102,340,389 169,137,724 Premier Renta Mixta 3,805,353 7,166,782 3,796,118 6,390,810 616,247,881 850,150,799 Premier Renta Mixta en USD 283,405 262,797 237,883 261,196 2,569,639 2,122,092 Premier Performance en USD 542,190 1,016,561 537,053 1,009,157 4,468,523 6,455,272 Premier Global USD 66,246 517,589 65,360 516,588 321,553 2,430,000 Premier Estratégico 1,465,984 — 1,464,690 — 832,710,848 — |
CONTRIBUTION TO THE DEPOSIT INS
CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM | 12 Months Ended |
Dec. 31, 2022 | |
CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM | |
CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM | 20. CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM Law No. 24485 and Decree No. 540/95 established the creation of the Deposit Insurance System to cover the risk attached to bank deposits, in addition to the system of privileges and safeguards envisaged in the Financial Institutions Law. The National Executive Branch through Decree No. 1127/98 dated September 24, 1998 established the maximum amount for this insurance system to demand deposits and time deposits denominated either in Pesos and/or in foreign currency. Such limit was set at $1,000 as from March 1, 2019 and increased to 1,500 as of May 1, 2020. This regime does not include deposits made by other financial institutions (including time deposit certificates acquired through a secondary transaction), deposits made by persons directly or indirectly related to the entity, deposits of securities, acceptances or guarantees, and those set up after July 1, 1995 at an interest rate higher than that periodically set forth by the Argentine Central Bank on the basis of the daily survey carried out by that agency (*). Excluded from the regime are also the deposits whose ownership was acquired through endorsement and placements offering incentives additional to the interest rate. The system has been implemented through the creation of the so-called “Deposit Guarantee Fund" (F,G,D,), which is managed by the company Seguros de Depósitos S.A. (SEDESA) and whose shareholders are the Central Bank and the financial institutions in the proportion determined for each of them by that agency on the basis of contributions made to such fund. (*) Enforced on January 20, 2019, pursuant to provision “A” 6435, such exclusions are as follows: Sight deposits with agreed-upon rates exceeding reference rates and term deposits and investments exceeding 1,3 times such rate. Reference rates are released on a regular basis by the Argentine Central Bank in accordance with a mobile average of the last five banking business days of passive rates that may arise for term deposits of up to 100 (or its equivalent in other currencies) from the survey to be carried out by said institution. |
RESTRICTED ASSETS
RESTRICTED ASSETS | 12 Months Ended |
Dec. 31, 2022 | |
RESTRICTED ASSETS | |
RESTRICTED ASSETS | 21. RESTRICTED ASSETS As of December 31, 2022 and 2021, the following Grupo Supervielle’s assets are restricted: Item 12/31/2022 12/31/2021 Financial assets in guarantee Special guarantee accounts in the Argentine Central Bank 10,294,615 12,691,876 Guarantee deposits for currency forward transactions 2,703,808 2,544,378 Guarantee deposits for credit cards transactions 998,480 1,298,832 Other guarantee deposits 471,762 100,123 14,468,665 16,635,209 |
FINANCIAL TRUSTS
FINANCIAL TRUSTS | 12 Months Ended |
Dec. 31, 2022 | |
FINANCIAL TRUSTS | |
FINANCIAL TRUSTS | 22. FINANCIAL TRUSTS The detail of the financial trusts in which Grupo Supervielle acts as Trustee or as a Settler is summarized below: As Trustee: Banco Supervielle S.A. Below is a detail of financial trusts: Below is a detail of the Guarantee Management trust where the Bank acts as a trustee as of December 31, 2022: Financial trust Indenture executed on Due of principal obligation Original principal amount Principal balance Beneficiaries Settlers Fideicomiso de Administración Interconexión 500 KV ET Nueva San Juan - ET Rodeo Iglesia 09/12/2018 The Term of this Trust Fund Contract will be in force over 24 months from 09/12/2018, or until the expiration of liabilities through Disbursements (Termination Date”). 30 days (thirty days) after the maturity of this Trust Agreement without the parties’ having agreed upon an Extension Commission, the Trustor of the trust account shall receive USD 6,000 (six thousand US Dollars) at the exchange rate in force in Banco Supervielle as a fine. - - Those initially mentioned (DISERVEL S.R.L., INGENIAS S.R.L, GEOTECNIA (INV. CALVENTE), NEWEN INGENIERIA S.A., INGICIAP S.A., MERCADOS ENERGETICOS, DISERVEL S.R.L.) and providers of works, goods and services included in the Project to be assigned by the Trustee with prior consent of the Trustor Interconexion Electrica Rodeo S.A. As Settler Micro Lending Financial Trust The following are financial trusts where Micro Lending S.A.U acts as settler: Securitized Issued Securities Financial Trust Set-up on Amount Type Amount Type Amount Type Amount III 06/08/2011 $ 39,779 VDF TV A VN$31,823 VDF B VN $6,364 CP VN $1,592 Vto: 03/12/13 Vto: 11/12/13 Vto: 10/12/16 IV 09/01/2011 $ 40,652 VDF TV A VN$32,522 VDF B VN $6,504 CP VN $1,626 Vto: 06/20/13 Vto: 10/20/13 Vto: 06/29/17 |
ISSUANCE OF DEBT SECURITIES
ISSUANCE OF DEBT SECURITIES | 12 Months Ended |
Dec. 31, 2022 | |
ISSUANCE OF DEBT SECURITIES | |
ISSUANCE OF DEBT SECURITIES | 23. ISSUANCE OF DEBT SECURITIES Banco Supervielle S.A. Unsubordinated Debt Securities Global Program for the issuance of simple Negotiable Debt securities, not convertible into shares, for an amount of up to US $ 2,300,000,000 (or its equivalent in other currencies or units of value) As of December 31, 2022 and 2021, the amounts outstanding and the terms corresponding to outstanding unsubordinated debt securities were as follows: Class Issue Date Maturity Date Annual Interest Rate 12/31/2022 12/31/2021 Banco Supervielle Class E 02/14/2018 02/14/2023 Badlar + Spread 4.05 % 561,409 2,063,327 Total 561,409 2,063,327 In February 2023 the Debt Securities were canceled. Subordinated debt securities Program for the issuance of Debt Securities for up to N/V $ 750,000 (increased to N/V $ 2,000,000) of Banco Supervielle S.A. As of December 31, 2022 and 2021, Grupo Supervielle has no outstanding debt securities issued. |
RESTRICTIONS IMPOSED ON THE DIS
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | 12 Months Ended |
Dec. 31, 2022 | |
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | 24. RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS Pursuant to regulations set by the Argentine Central Bank, 20% of the profits for the year, net of possible prior year adjustments, were applicable, are to be allocated to the Legal Reserve. Pursuant to the amended text on distributions of dividends, financial entities shall comply with a series of requirements, as follows: i) They shall not be subject to the provisions of Sections 34 and 35 bis of the Financial Institutions Law; ii) No liquidity assistance loans shall have been granted to them; iii) they shall be in compliance with information regimes; iv) they shall not record shortfalls in the compiled minimum capital (without computing for such purposes the effects of the individual exemptions granted by the Superintendence of Financial and Foreign Exchange Institutions) or minimum cash, v) they shall have complied with additional capital margin when applicable. The entities not facing any of these situations may distribute dividends in accordance with provisions set forth in said amended text, provided the entity´s liquidity or solvency is not jeopardized. On March 9, 2023, through Communication “A” 7719, the Central Bank authorized financial entities to distribute results for up to 40% of the accumulated retained earnings until December 31, 2022. This distribution could be made from April 1, 2023, until December 31, 2023, prior Central Bank approval, in 6 equal, monthly and consecutive installments. Our shareholders' equity under the rules of the Argentine Central Bank comprise the following captions: 12/31/2022 Capital stock 444,411 Inflation adjustment of capital stock 8,794,281 Paid in capital 84,849,949 Treasury shares 12,311 Inflation adjustment of treasury shares 820,226 Cost of treasury shares (1,383,270) Legal reserve 1,035,973 Other reserves 5,164,443 Retained earnings (7,931,870) Other comprehensive Income 1,034,262 Total shareholders’ equity attributable to the owners of the parent under the rules of the Argentine Central Bank 92,840,716 |
LOANS AND OTHER FINANCING
LOANS AND OTHER FINANCING | 12 Months Ended |
Dec. 31, 2022 | |
LOANS AND OTHER FINANCING | |
LOANS AND OTHER FINANCING | 25. LOANS AND OTHER FINANCING As of December 31, 2022 and 2021 the composition of the loan portfolio is as follows: Total as of Assets Before Allowances December 31, Stage 1 Stage 2 Stage 3 2022 Promissory notes 34,148,294 338,608 134,129 34,621,031 Unsecured corporate loans 39,685,295 350,203 1,325,496 41,360,994 Overdrafts 14,159,148 202,393 173,411 14,534,952 Mortgage loans 22,370,809 2,004,852 709,661 25,085,322 Automobile and other secured loans 6,272,346 1,266,879 405,197 7,944,422 Personal loans 29,555,460 6,148,950 2,583,516 38,287,926 Credit card loans 40,850,222 6,136,469 2,354,959 49,341,650 Foreign Trade Loans 12,897,902 1,849,831 1,480,395 16,228,128 Other financings 6,590,309 162,289 66,392 6,818,990 Other receivables from financial transactions 2,711,989 90,951 97,914 2,900,854 Receivables from financial leases 10,447,409 202,858 38,714 10,688,981 Subtotal 219,689,183 18,754,283 9,369,784 247,813,250 Allowances for loan losses (3,035,675) (2,926,254) (6,260,123) (12,222,052) Total 216,653,508 15,828,029 3,109,661 235,591,198 Total as of Assets Before Allowances December 31, Stage 1 Stage 2 Stage 3 2021 Promissory notes 72,323,806 1,309,431 337,670 73,970,907 Unsecured corporate loans 21,969,956 842,893 2,606,341 25,419,190 Overdrafts 9,625,551 272,572 228,013 10,126,136 Mortgage loans 27,924,803 2,360,621 624,902 30,910,326 Automobile and other secured loans 6,309,306 793,917 529,645 7,632,868 Personal loans 48,402,450 7,542,402 5,001,142 60,945,994 Credit card loans 52,516,363 5,207,835 2,782,584 60,506,782 Foreign Trade Loans 19,206,386 4,278,282 3,306,523 26,791,191 Other financings 7,015,741 472,294 161,916 7,649,951 Other receivables from financial transactions 5,958,063 78,529 220,716 6,257,308 Receivables from financial leases 11,323,929 801,549 89,728 12,215,206 Subtotal 282,576,354 23,960,325 15,889,180 322,425,859 Allowances for loan losses (3,555,515) (5,147,174) (10,869,777) (19,572,466) Total 279,020,839 18,813,151 5,019,403 302,853,393 Expected Credit Loss Allowance Expected credit loss allowance recognised in the period is affected by a range of factors as follows: ● Transfers between Stage 1 and Stage 2 or 3 due to financial instruments experiencing significant increases (or decreases) of credit risk or becoming credit-impaired in the period, and the consequent "step up" (or "step down") between 12 months and Lifetime; ● Additional allowances for new financial instruments recognized during the period, as well as releases for financial instruments de-recognized during the period; ● Impact on the measurement of ECL of changes in PDs, EADs and LGDs in the period, resulting from the regular updating of model inputs; ● Impact on the measurement of ECL as a result of changes in models and assumptions; ● Discount unwind within ECL due to passage of time, as ECL is measured on a present value basis; ● Foreign exchange retranslations for assets denominated in foreign currencies and other movements; and ● Financial assets derecognised during the period and write-offs of allowances related to assets that were written off during the period. The following charts explain changes in the provision for credit risk between the beginning and end of the period due to the following factors: An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as follows: Assets Before Allowances ECL Allowance Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Balance at the beginning of the year 282,576,354 23,960,325 15,889,180 322,425,859 3,555,515 5,147,174 10,869,777 19,572,466 Transfers 1 to 2 (4,339,851) 4,339,851 — — (122,595) 930,556 — 807,961 1 to 3 (674,849) — 674,849 — (24,667) — 1,271,329 1,246,662 2 to 3 — (530,731) 530,731 — — (179,202) 852,277 673,075 2 to 1 3,616,758 (3,616,758) — — (4,539) (1,293,359) — (1,297,898) 3 to 2 — 235,228 (235,228) — — (54,830) (183,335) (238,165) 3 to 1 210,929 — (210,929) — (58,052) — (144,059) (202,111) Additions 130,836,311 8,708,725 2,894,580 142,439,616 2,032,680 2,262,129 4,783,651 9,078,460 Disposals (70,170,490) (4,378,611) (2,388,699) (76,937,800) (824,470) (1,518,666) (3,229,038) (5,572,174) Net changes of financial assets (125,950,841) (8,211,017) 787,273 (133,374,585) (237,515) (508,239) 685,215 (60,539) Write-Offs (1,417,679) (1,955,244) (9,267,030) (12,639,953) (1,417,679) (1,955,244) (9,267,030) (12,639,953) Exchange Differences and Others 5,002,541 202,515 695,057 5,900,113 136,997 95,935 621,336 854,268 Gross carrying amount at December 31, 2022 219,689,183 18,754,283 9,369,784 247,813,250 3,035,675 2,926,254 6,260,123 12,222,052 Assets Before Allowances ECL Allowance Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Balance at the beginning of the year 283,660,430 28,956,778 22,040,628 334,657,836 5,457,993 5,847,347 13,465,342 24,770,682 Transfers 1 to 2 (5,272,473) 5,272,473 — — (280,039) 1,438,353 — 1,158,314 1 to 3 (3,251,536) — 3,251,536 — (415,455) — 4,850,154 4,434,699 2 to 3 — (673,799) 673,799 — — (418,256) 771,356 353,100 2 to 1 4,815,840 (4,815,840) — — 55,760 (724,016) — (668,256) 3 to 2 — 849,906 (849,906) — — 200,549 (833,305) (632,756) 3 to 1 1,069,850 — (1,069,850) — (1,556) — (564,155) (565,711) Net changes of financial assets 2,149,875 (4,301,164) 1,703,495 (447,794) 1,532,578 554,927 3,314,566 5,402,071 Write-Offs (2,844,265) (1,807,285) (10,163,515) (14,815,065) (2,844,265) (1,807,286) (10,163,515) (14,815,066) Exchange Differences and Others 2,248,633 479,256 302,993 3,030,882 50,499 55,556 29,334 135,389 Gross carrying amount at December 31, 2021 282,576,354 23,960,325 15,889,180 322,425,859 3,555,515 5,147,174 10,869,777 19,572,466 Collateral and other credit enhancements Collateral is an instrument pledged as security for repayment of a loan, to be forfeited in the event of default. The Entity accepts collateral as security before a potential breach on behalf of a debtor occurs. The Argentine Central Bank classifies these guarantees in three types: Preferred "A" (considered self-settleable), Preferred "B" (made up by mortgage or pledge loans) and remaining guarantees (mainly bank guarantees and fines). In virtue of the administration of collateral, Grupo Supervielle relies on a specific area devoted to the review of the legal compliance and suitable instrumentation of received collateral. In accordance with the type of collateral, the guarantors may be people or companies (in the case of mortgages, pledges, fines, guarantees and liquid funds) and international top level Financial Entities (for credit letters stand by). Grupo Supervielle monitors collateral held for financial assets considered to be credit-impaired as it becomes more likely that Grupo Supervielle will take possession of collateral to mitigate potential credit losses. Allowances Gross for loans Fair value of Credit Impaired loans exposure losses Book value collateral Overdrafts 173,411 129,221 44,190 — Financial Lease 38,714 14,775 23,939 32,809 Promissory Notes 134,129 69,054 65,075 106,568 Mortgage loans 709,661 399,025 310,636 221,767 Personal loans 2,583,516 2,263,733 319,783 — Pledge loans 405,197 292,372 112,825 112,825 Credit cards 2,354,959 2,175,042 179,917 — Other 2,970,197 916,900 2,053,297 2,053,295 Total 9,369,784 6,260,123 3,109,661 2,527,264 Write-off policy Grupo Supervielle writes off, in whole or in part, when it has exhausted all practical recovery efforts and has concluded there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include: (i) ceasing enforcement activity and (ii) where Grupo Supervielle´s recovery method is foreclosing on collateral and the value of the collateral is such that there is no reasonable expectation of recovering in full. Grupo Supervielle may write-off financial assets that are still subject to enforcement activity, The outstanding contractual amounts of such assets written off during the year ended on December 31, 2022 and 2021 amount to 7,865,755 and 15,387,785 respectively.Grupo Supervielle still seeks to recover amounts it is legally owed in full, but which have been partially written off due to no reasonable expectation of recovery. 12.31.2022 12.31.2021 Balance at the beginning of the year 15,387,785 21,164,081 Additions 12,639,953 14,815,066 Disposals (9,711,831) (6,320,836) Cash collection (1,924,172) (2,129,966) Portfolio sales (528,944) (1,040,168) Condonation (7,258,715) (3,150,702) Exchange differences and other movements (10,450,132) (14,270,525) Gross carrying amount 7,865,775 15,387,785 |
RISK MANAGEMENT POLICIES
RISK MANAGEMENT POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
RISK MANAGEMENT POLICIES | |
RISK MANAGEMENT POLICIES | 26. RISK MANAGEMENT POLICIES Financial risk factors Credit risk The Integral Risk Committee approves credit risk strategies and policies submitted in accordance with recommendations provided by the Integral Risk Corporate Department, the Credit Corporate Department and commercial sectors and in compliance with regulations set by the Argentine Central Bank. The credit strategy and policy is aimed at the development of commercial opportunities within the framework and conditions of Grupo Supervielle´s business plan, while keeping suitable caution levels in face of the risk. Policies and procedures enable the definition of accurate aspects aimed at the deployment of Grupo Supervielle´s Strategy related to the administration of credit risk; among them, Grupo Supervielle´s criteria to grant loans, credit benefits and powers, types of products and the way in which the structure is organized, among other aspects. Likewise, Grupo Supervielle relies on an integral risk policy where aspects related to general key risk governance as well as specific manuals and procedures that include, among others, all relevant regulations issued by the Argentine Central Bank. Grupo Supervielle´s credit risk management policies are applied to corporate and individuals. To such ends, a customer segmentation has been defined for Corporate Banking and Personal and Business Banking. Grupo Supervielle focuses on supporting companies belonging to sectors with potential, and successful in their activity. Within the range of credit products offered for the business segment, Grupo Supervielle aims to develop and lead the factoring and leasing market, as well as to be a benchmark in foreign trade. Within Corporate Banking, we seek a solid proposal for medium and large companies' market, seeking to maintain proximity with clients through service centers, agreements with clients throughout their value chain, and providing agile responses through existing credit processes. Regarding Personal and Business Banking, in addition to payroll and senior citizens segments, special focus is placed on Entrepreneurs and SMEs, SMEs as well as the Banks´s Identité segment. The area of Capital Markets and Structuring targets the trust business segment; placement of assets in the capital market through financial trusts and debt securities, own and of third parties; and for its part, the area of Treasury and Finance has the Trading Desk within its scope. Among traded products are: interbank call, REPO transactions, corporate call, securities from public sector and monetary policy instruments of the Central Bank, acquisition of consumer portfolios, third-party financial trusts, negotiation of financial derivatives (futures, rate swaps, etc.), among others. Grupo Supervielle is willing to carry out a strategy that enables it to address its contractual commitments, both under normal market conditions and adverse situations. Therefore, Grupo Supervielle relies on scoring and rating models to estimate probability of default (PD) for the different client portfolios. As for risk appetite framework, Grupo Supervielle relies on cut-offs for each risk-based segment that express the maximum risk to be assumed in terms of probability of default. In addition to PD parameters, Grupo Supervielle relies on estimates of exposure at default (EAD) and loss given default (LGD) parameters with the purpose of estimating Group’s allowance for loan losses and the necessary economic capital to face unexpected losses that may arise due to credit risk. Grupo Supervielle is aimed at keeping a diversified and atomized portfolio, in order to minimize risk concentration. To such ends, loan origination and client portfolio profiles are adjusted to each different circumstance. To this end, the entity has an indicators dashboard linked to the appetite for credit and concentration risk. The evolution of the NPL, Coverage and Cost of Risk indicators is monitored in relation to target limits established according to risk appetite and the strategy determined in the entity's business plan. Likewise, there is a portfolio limits scheme that measures balance concentration by debtor or economic group, the concentration of the main debtors, concentration by value chain, economic activities, portfolio by risk level based on the facility risk rating. and the exposure in foreign currency both at a total level and by product type. Credit Risk Measurement Models Grupo Supervielle relies on models aimed at estimating the distribution of potential credit losses in its credit portfolio, which depend on defaults by the counterparties (PD – Probability of Default), as well as the assumed exposure to such defaults (EAD –Exposure At Default) and the recoveries of each defaulted loan (LGD – Loss Given Default). Based on this, systems were developed at Grupo Supervielle that calculate statistical forecasts, economic capital and Risk-Adjusted Return (RAROC) models in order to optimize management and decision-making. Grupo Supervielle has deepened its work on the expected loss methodologies under IFRS 9, focusing on methodological improvements in the estimation of parameters (PD, EAD and LGD), aligning the definition of the parameters to the credit process. The forward looking model has been redesigned with the inclusion of a greater number of variables and openings, performing a periodic review of it in order to keep the expected loss model aligned with the macroeconomic vision. Calculation of statistical forecasts Based on the results of the PD (probability of default), EAD (exposure at default) and LGD (loss given default) estimates, the associated statistical forecast is calculated. The exercises for the estimation of statistical forecasts are studies that aim to analyze the Group's own portfolio information in order to estimate, in global terms, the average value of the loss distribution function for an annual time horizon in healthy operations, and for the entire life of credits in those operations that are considered impaired (provisions for expected loss). Economic Capital Calculation The economic capital for credit risk is the difference between the portfolio’s value at risk (according to the confidence level for individuals of 99.9% and for companies of 99%) and the expected credit losses. Grupo Supervielle relies on economic capital models for credit risk (one for individuals and another for companies). Such quantitative models include the exacerbation of capital by concentration risk and Securitization Risk. In the economic capital calculation models a one year holding period is used, except from factoring exposures where a six month holding period is used. Counterparty Risk Management Grupo Supervielle relies on a Counterparty’s Risk Map approved by the Credit Committee where the following limits are defined for each counterparty according to Grupo Supervielle’s risk appetite: credit exposure and settlement limits, foreign exchange settlement risk, securities settlement risk and Repo transactions settlement risk, among other. Regarding the economic capital for the counterparty’s risk, it is included in the Economic Capital Quantitative Model for Credit Risk. Loans written off Those credits classified as unrecoverable are eliminated from assets, recognizing them in off-balance sheet accounts. Their balance as of December 31, 2022 and 2021 amounts to 12,639,953 and 14,815,066 respectively. Maximum Credit Risk Exposure The following table contains an analysis of the maximum credit risk exposure: December 31, 2022 ECL Staging Stage 1 Stage 2 Stage 3 Loan Type 12-month ECL Lifetime ECL Lifetime ECL Total Promissory Notes 34,148,294 338,608 134,129 34,621,031 Unsecured Corporate Loans 39,685,295 350,203 1,325,496 41,360,994 Overdrafts 18,834,132 256,209 173,411 19,263,752 Mortgage Loans 22,370,809 2,004,852 709,661 25,085,322 Automobile and other secured loans 6,272,346 1,266,879 405,197 7,944,422 Personal Loans 29,555,460 6,148,950 2,583,516 38,287,926 Retail 29,555,460 6,148,950 2,583,516 38,287,926 Consumer Finance — — — — Credit Card Loans 100,611,395 9,616,296 2,354,959 112,582,650 Retail 100,611,395 9,616,296 2,354,959 112,582,650 Consumer Finance — — — — Receivables from Financial Leases 10,750,341 202,858 38,715 10,991,914 Foreign Trade Loans 12,897,902 1,849,831 1,480,395 16,228,128 Other Financings 13,094,711 162,372 66,393 13,323,476 Other Receivables from Financial Transactions 2,410,136 90,951 97,912 2,598,999 Total 290,630,821 22,288,009 9,369,784 322,288,614 December 31, 2021 ECL Staging Stage 1 Stage 2 Stage 3 Loan Type 12-month ECL Lifetime ECL Lifetime ECL Total Promissory Notes 72,323,806 1,309,431 337,670 73,970,907 Unsecured Corporate Loans 21,969,956 842,893 2,606,341 25,419,190 Overdrafts 25,885,935 545,292 228,014 26,659,241 Mortgage Loans 27,924,802 2,360,621 624,903 30,910,326 Automobile and other secured loans 6,309,306 793,917 529,645 7,632,868 Personal Loans 48,402,450 7,542,402 5,001,142 60,945,994 Retail 40,015,365 6,519,568 1,625,713 48,160,646 Consumer Finance 8,387,085 1,022,834 3,375,429 12,785,348 Credit Card Loans 118,056,758 8,296,881 2,782,582 129,136,221 Retail 98,621,271 7,336,223 742,201 106,699,695 Consumer Finance 19,435,487 960,658 2,040,381 22,436,526 Receivables from Financial Leases 11,323,930 801,549 89,728 12,215,207 Foreign Trade Loans 19,206,386 4,278,282 3,306,523 26,791,191 Other Financings 8,283,198 481,468 161,917 8,926,583 Other Receivables from Financial Transactions 5,959,301 78,529 220,716 6,258,546 Total 365,645,828 27,331,265 15,889,181 408,866,274 Financial Instruments to which the impairment requirements in IFRS 9 are not applied Financial assets measured at fair value through profit or loss are not subject to impairment The maximum exposure to credit risk is the corresponding fair value. Market risk Group defines Market Risk as the risk resulting from deviations in the trading portfolio value as a result of market fluctuations during the period required for the settlement of portfolio positions. The Risk Department’s measurement, control and follow-up perimeter covers those operations where certain loss risk in Grupo Supervielle ´s shareholders equity value is assumed, as a result of changes in market factors. Such risk results from the variation in risk factors under evaluation (interest rate, exchange rate, market price of equity instruments and options), as well as liquidity risk in the different products and markets where Grupo Supervielle operates. According to its business strategy, Banco Supervielle is the component of Grupo Supervielle with the greatest exposure to this risk. That is why market risk controls present a greater level of detail and emphasis on Banco Supervielle's trading portfolio. With the purpose of measuring the risk of positions homogeneously and therefore, setting a limit and threshold structure to support management and control schemes, Banco Supervielle uses the VaR model (Value at Risk), which defines the maximum expected loss to be recorded in a financial asset portfolio in normal market conditions, within a certain period of time and at a pre-established confidence level. Indicators obtained from this enable Grupo Supervielle to identify a potential market risk and take preventive measures. Market risk management is focused on the trading portfolio managed by the Trading desk, although there is also a broader control including managed positions with liquidity management objectives. For this reason, in terms of the broader trading portfolio, the controls are limited to the exposure to the assumed risk, measured using the VaR methodology, in relation to the regulatory capital (RC). In addition, a control is carried out on the VaR by group of assets, thus limiting the risk that the Entity can assume in each group of assets considered in isolation. The objective is to incorporate an element of alert to credit events or break in the correlations between groups of assets, events that may escape the consideration of a diversified VaR. Based on the falls observed in the sovereign debt market at the beginning of June and the consequent increase in price volatility, the Entity implemented more frequent monitoring and review of the already existing indicators of exposure to the National Treasury. The controls over the Trading desk are more exhaustive. Approved strategies and policies are reflected in what is known internally as a unified Risk Map document, where detailed operations enabled by the Trading desk can be explained in detail. In the same document the entire framework of controls that translate the risk appetite with which the Entity is willing to operate is exposed. In this way, limitations are established on the open position in certain financial instruments, VaR limit on the diversified portfolio, maximum allowable loss amount before executing the stop loss policy and conditions that could lead to the execution of a stop strategy gain. The entire control scheme is complemented by action plans that must be implemented once a violation occurs within the limits established therein. The exposure to Grupo Supervielle's exchange rate risk at the end of the year by currency type is detailed below: Balances as of 12/31/2022 Balances as of 12/31/2021 Monetary Monetary Monetary Monetary Financial Financial Net Financial Financial Net Currency Assets Liabilities Derivatives Position Assets Liabilities Derivatives Position US Dollar 67,887,912 60,791,253 55,699 7,152,358 80,251,834 70,947,953 14,350 9,318,231 Euro 1,432,907 1,098,753 — 334,154 1,798,095 1,666,068 — 132,027 Others 478,272 11,892 — 466,380 610,183 15,426 — 594,757 Total 69,799,091 61,901,898 55,699 7,952,892 82,660,112 72,629,447 14,350 10,045,015 Financial assets and liabilities are presented net of derivatives, which are disclosed separately. Derivative balances are shown at their Fair Value at the closing price of the respective currency. The table above includes only Monetary Assets and Liabilities, since investments in equity instruments and non-monetary instruments does not generate foreign exchange risk exposure. A sensitivity analysis was performed considering reasonably possible changes in foreign exchange rates in relation to Grupo Supervielle’s functional currency. The percentage of variation used in this analysis is the same Grupo Supervielle used in its Business Plan and Projections. 12/31/2022 12/31/2021 Currency Variation P/L Equity Variation P/L Equity US Dollar 85.70 % 6,132,508 6,132,508 52.50 % 4,888,105 4,888,105 (85.70) % (6,132,508) (6,132,508) (52.50) % (4,888,105) (4,888,105) Euro 85.70 % 286,507 286,507 52.50 % 69,259 69,259 (85.70) % (286,507) (286,507) (52.50) % (69,259) (69,259) Other 85.70 % 399,880 399,880 52.50 % 311,994 311,994 (85.70) % (399,880) (399,880) (52.50) % (311,994) (311,994) Total 85.70 % 6,818,895 6,818,895 52.50 % 5,269,358 5,269,358 (85.70) % (6,818,895) (6,818,895) (52.50) % (5,269,358) (5,269,358) Sensitivity Analysis Banco Supervielle also has a methodology for carrying out individual stress tests of market risks. These tests are performed on a daily basis, in conjunction with the calculation of the parametric VaR. The Stressed VaR indicator makes it possible to determine the risk that Grupo Supervielle would be assuming with the current composition of the trading portfolio, in the event of a repetition of the stress conditions that occurred in a given historical period. When using a diversified VaR methodology, it is important to provide information related to the contribution that each asset in the portfolio makes to the aggregate VaR measurement, and fundamentally if this asset generates risk diversification or not. That is why, within the variables included in the daily report, the VaR component of each asset is included, thus allowing a sensitivity analysis on the impact of each asset on the total risk. With the aim of improving the assumed risk analysis through the use of alternative measurement metrics, Grupo Supervielle recognizes the change in market conditions on exposure to risk through an adjustment to the volatilities used in the VaR calculation. According to the methodology used, the returns of assets registered in more recent dates have a greater incidence in the calculation of volatilities. In parallel, the Entity performs a measurement and monitoring of the assumed risk through the application of an expected shortfall methodology, analyzing the universe of unexpected losses located in the distribution queue beyond the critical point indicated by VaR. Economic capital calculation Banco Supervielle adopts the diversified Parametric VaR methodology for the calculation of market risk economic capital, both at a consolidated and individual level. It should be noted that in the case of IUDÚ, according to the provisions established by the Argentine Central Bank, its Board of Directors has chosen to quantify its needs for economic capital by applying a simplified methodology. According to this methodology, the aggregate economic capital arises from the following expression: EC = (1,05 x MC) + max [0; ΔEVE – 15 % x bS)] Where, EC: economic capital according to profile’s risk (ICAAP). MC: Minimum capital requirement in accordance with Argentine Central Bank regulations. ΔEVE (Economic Value): measure of interest rate risk calculated according to the Standardized Framework bS (Basic Shareholders’ equity) : Tier 1 capital. Interest Rate Risk Interest Rate Risk is the risk derived from the likelihood that changes in Grupo Supervielle’s financial condition occur as a result of market interest rate fluctuations, having effect on its financial income and economic value. The following are such risk factors: ✓ Different terms maturity and interest rate re-adjustment dates for assets, liabilities and off balance sheet items . ✓ Forecast, evolution and volatility of local interest rates and foreign interest rates. ✓ The basis risk that results from the unsuitable correlation in the adjustment of assets and liabilities interest rates for instruments that contain similar revaluation features ; ✓ The implicit options in certain assets, liabilities and off-balance sheet items of Grupo Supervielle. Grupo Supervielle’s interest rate risk management model, includes the analysis of interest rates gaps. Such analysis enables the basic explanation of the financial statement structure as well as the detection of interest rate risk concentration along the different terms. Special attention focuses on the accumulated gap during the first 90 days, as it is the holding period used when evaluating exposure to interest rate risk in each of the entities and due to its relevance when evaluating actions that may modify the structural balance positioning. The interest rate risk management is aimed at keeping Grupo Supervielle’s exposure within those levels of risk appetite profile validated by the Board of Directors upon changes in the market interest rates. To such ends, the interest rate risk management relies on the monitoring of two metrics: ✓ MVE – VaR Approach : measures the difference between the economic values estimated given the interest rate market curve and said value estimated given the interest rate curve resulting from the simulation of different stress scenarios. Grupo Supervielle uses this approach to calculate the economic capital for this risk. ✓ NIM – EaR Approach : measures changes in expected accruals over a certain period of time (12 months) upon an interest rate curve shift resulting from a different stress situation simulation practices. With the publication of Communication "A" 6397, the Argentine Central Bank presented the applicable guidelines for the treatment of interest rate risk in the investment portfolio. The regulation makes a distinction between the impact of fluctuations in interest rate levels on the underlying value of the entity's assets, liabilities and off-balance sheet items (economic value or MVE), and the alterations that such movements in the interest rate may have on sensitive income and expenses, affecting net interest income (NII). This same criterion had already been adopted by Banco Supervielle, so that the new regulations implied a readaptation of the management model to the suggested measurement methodology, maintaining some criteria and incorporating others. As established by the regulator, both Banco Supervielle and IUDÚ Compañia Financiera must use the Standardized Framework described in point 5.4. of the Communication "A" 6397 for the measurement of the impact on the economic value of the entities (ΔEVE) of six proposed disturbance scenarios. These scenarios include parallel movements in the curves of market interest rates upwards or downwards, flattening or steepening of the slope of these curves, as well as an increase or decrease in short-term interest rates. A base curve of market interest rates is considered for each of the significant currencies in the financial statement of each entity. According to the applicable regulation, Banco Supervielle has to use an internal measurement system (SIM) for measurement based on results (ΔNIM). This requirement is not applicable to IUDÚ Compañía Financiera. It is important to highlight that Banco Supervielle, which has not been qualified by the Argentine Central Bank as having a local systemic importance (D-SIB), is not legally bound to have its own internal measurement system (SIM) for the measurement based on economic value (ΔEVE). Beyond the regulatory provisions, it is important to note that both Banco Supervielle and IUDU Compañia Financiera have been working with internal measurement systems (SIM) to measure the impact of rate fluctuations, both on economic value (ΔEVE) and on results (ΔNIM). The development of these systems included the definition of assumptions for the determination of the maturity flow of different lines of assets and liabilities without defined maturity or with implicit or explicit options of behavior. Following good practices in risk management and with the aim of ensuring the reasonableness of fit of the internal models used, a backtesting methodology was developed applicable to the results obtained with the interest rate risk measurement tool (approach MVE-VaR). Specifically, an evaluation of the discount rates projected in the critical scenario is carried out. Improvements were made to the dynamic rate GAP measurement tool, allowing various sensitivity exercises to be carried out in a year characterized by a changing context and numerous regulations that altered financial margins. Economic Capital Calculation As a first step to calculate economic capital, Banco Supervielle calculates its exposure to interest rate risk from the MVE-EaR (economic value) approach of its internal measurement system (SIM), using a holding period of three months (90 days) and a confidence level of 99%. This quantitative model includes the exacerbation of capital by securitization risk. The result obtained is compared with the worst result of the alterations proposed in the six scenarios proposed by the Standardized Framework, with the resulting economic capital being the worst of both measurements (SIM and Standardized Framework). In the case of IUDÚ Compañía Financiera, as mentioned above, the Entity's Board of Directors has chosen to quantify its needs for economic capital by applying a simplified methodology. With regard to interest rate risk, Grupo Supervielle measures the impact of fluctuations in market interest rates on the economic value based on the application of the Standardized Framework. In the event that the worst ΔEVE of the six scenarios proposed by the regulation exceeds 15% of the basic net worth (capital level one) of the Entity, the sum of the economic capital calculated according to the simplified methodology would be increased by said excess. The exposure to interest rate risk is detailed in the table below. It presents the residual values and average rate of the assets and liabilities, categorized by date of renegotiation of interest or expiration date, the lowest. Term in days Assets and Liabilities Up to 30 From 30 to 90 from 90 to 180 from 180 to 365 More than 365 Total To 12/31/2022 Total Financial Assets 391,057,404 50,449,192 36,598,283 14,101,774 149,605,751 641,812,404 Total Financial Liabilities (294,395,625) (46,241,210) (34,316,868) (357,570) (165,494,258) (540,805,531) Net Amount 96,661,779 4,207,982 2,281,415 13,744,204 (15,888,507) 101,006,873 Term in days Assets and Liabilities Up to 30 From 30 to 90 from 90 to 180 from 180 to 365 More than 365 Total To 12/31/2021 Total Financial Assets 327,118,076 76,493,228 69,505,067 45,484,824 180,349,681 698,950,876 Total Financial Liabilities (332,718,871) (83,515,461) (15,815,948) (1,092,601) (205,378,261) (638,521,142) Net Amount (5,600,795) (7,022,233) 53,689,119 44,392,223 (25,028,580) 60,429,734 The table below shows the sensitivity to a reasonably possible additional variation in interest rates for the next year, taking into account the composition as of December 31, 2022. Variations in rates were determined considering the scenarios set by Communication "A" 6397 for the calculation of the Interest Rate Risk in the Investment Portfolio. The parameters taken as a base and or budgeted by the Bank for fiscal years 2022 and 2021 and the changes are considered reasonable possible based on the observation of market conditions: 12/31/2022 12/31/2021 Increase / (decrease) Increase / (decrease) Additional variation in in the income Additional variation in in the income Items the interest rate statement the interest rate statement Decrease in the interest rate 4% ARS; 2% USD 147,263 4% ARS; 2% USD 508,225 Increase in the interest rate 4% ARS; 2% USD 198,390 4% ARS; 2% USD (506,680) Liquidity Risk Grupo Supervielle defines Liquidity Risk as the risk of assuming additional financing expenses upon unexpected liquidity needs. Such risk results from the difference of sizes and maturities between Grupo Supervielle’s assets and liabilities. Such risks involve the following: ✓ Funding Liquidity Risk means the risk to obtain funds at normal market cost when needed, based on the market’s perception of Grupo Supervielle. ✓ Market Liquidity Risk means the risk resulting from Grupo Supervielle’s incapacity to offset an asset position at market price, as a consequence of the following two key factors: ● Assets are not liquid enough, ● Changes in the markets where those assets are traded. Liquidity and concentration indicators of funding sources are used to determine the tolerance to this risk, starting from the most restrictive definitions to the most comprehensive ones. The following are the main core metrics used for liquidity risk management: ✓ LCR (Liquidity Coverage Ratio) : measures the relation between high quality liquid assets and total net cash outflows over a 30-day period. Grupo Supervielle estimates this indicator on a daily basis, having met exceeded the year the minimum value established by law, as well as that established internally based on their risk appetite. ✓ Net Stable Funding Ratio (NSFR) : measures the ability of Grupo Supervielle to fund its activities with sufficiently stable sources to mitigate the risk of future stress situations arising from its funding. Grupo Supervielle calculates this indicator on a daily basis, having complied with the minimum value required by the regulator and that that established internally based on its risk appetite. ✓ Co verage of Remunerated Accounts and Pre-Payable Term Deposits : this indicator is aimed to reduce funding dependence of unstable sources in non-liquid scenarios. In addition, the Assets and Liabilities Committee performs a daily monitoring of some follow-up metrics. Such indicators are used to analyze the main components of LCR while assessing Grupo Supervielle’s liquidity condition and warning upon trend changes that may affect the guidelines set by the risk appetite policy. Additionally, within these monitoring indicators, Committee assess for the availability of liquid assets to respond to an eventual withdrawal of more volatile deposits, such us remunerated current accounts and deposits of the public sector in foreign currency. During 2022, strong growth was observed in interest-bearing current accounts, especially from institutional clients. The funds thus raised were applied to the acquisition of LELIQ or the arrangement of Repo Transactions with the BCRA, thus trying to minimize the mismatch of terms. Controls were implemented so that this exposure to the BCRA is maintained at reasonable levels measured against total assets, the entity's equity and in terms of market share. Liquidity in dollars remained at high levels, above 70% throughout the year. Economic capital calculation Grupo Supervielle relies on the following elements that ensure the suitable management of this type of risk: ✓ Broad liquidity indicators dashboard, to monitor liquidity levels. Each indicator relies on its relevant threshold and limit, which are monitored on a daily basis by the Risk Area (sending due warnings upon violation cases), on a byweekly basis by the Assets and Liabilities Committee (ALCO) and on a monthly basis by the Integral Risk Committee. Likewise, a weekly report is drawn up and sent to members of the Integral Risk Committee, ALCO and the Board. ✓ Indicators that measure the concentration of funding sources, establishing Grupo Supervielle’s risk appetite . ✓ Development and monitoring of new liquidity coverage and leverage indicators set by the Argentine Central Bank in compliance with Basel III route map. ✓ Different liquidity risk follow-up tools have been added, including a disaggregate assessment of contractual term mismatches and funding concentration reports, by counterparty, product and significant currency. The accuracy of the information required for such reports contributed to the improvement of our Risk Management Information System (MIS). ✓ The liquidity coverage ratio is used to assess Grupo Supervielle’s capacity to meet liquidity needs over a 30-day period within a stress scenario described by the Argentine Central Bank. The follow-up of this indicator is carried out on a daily basis, keeping Grupo Supervielle’s liquidity director and officials updated on its evolution. ✓ Permanent monitoring of limit and threshold compliance in virtue of the NSFR. ✓ Individual stress tests, carried out on a daily basis upon an eventual critical scenario of a sudden withdrawal of deposits and its impact on the minimum cash position and LCR. ✓ Intraday liquidity monitoring tools as indicated above. ✓ Regarding contingency plans, Grupo Supervielle follows a policy that ensures the application of its guidelines in stress tests, according to the decision taken by ALCO Committee and Integral Risk Committee. The Risk management framework described herein enables a suitable liquidity condition; therefore, Grupo Supervielle considers the economic capital estimation unnecessary to cover such risk, as long as Grupo Supervielle’s solvency should not be affected once the stress tests contingency plan have been implemented. Below is the concentration of loans and deposits as of December 31, 2022 and 2021 Loans and other financing 12/31/2022 12/31/2021 Number of Clients Balance % over total portfolio Balance % over total portfolio 10 largest customers 21,912,962 8.8% 25,625,797 7.9% 50 following largest customers 39,836,474 16.1% 41,425,451 12.8% 100 following largest customers 30,829,050 12.4% 33,701,260 10.5% Rest of customers 155,234,764 62.6% 221,673,351 68.8% TOTAL 247,813,250 100.0% 322,425,859 100.0% Deposits 12/31/2022 12/31/2021 Number of customers Balance % over total portfolio Balance % over total portfolio 10 largest customers 183,536,099 33.5% 185,592,666 33.0% 50 following largest customers 121,769,699 22.2% 94,391,684 16.8% 100 following largest customers 30,244,413 5.5% 29,423,744 5.2% Rest of customers 211,966,724 38.7% 252,488,613 44.9% TOTAL 547,516,935 100.0% 561,896,707 100.0% Below is an analysis of the assets and liabilities maturities, determined based on the remaining period as of |
INTERNATIONAL FINANCING PROGRAM
INTERNATIONAL FINANCING PROGRAMS | 12 Months Ended |
Dec. 31, 2022 | |
INTERNATIONAL FINANCING PROGRAMS | |
INTERNATIONAL FINANCING PROGRAMS | 27. INTERNATIONAL FINANCING PROGRAMS In December 2017, Banco Interamericano de Desarrollo (BID) granted Banco Supervielle S,A, a loan (tranche A) for USD 40,000,000, USD 35,000,000 of which are settled over a three-year and period the remaining USD 5,000,000 over a five-year term, In June 2018, the Bank was granted a loan (tranche B) for USD 93,500,000, USD 40,000,000 are settled over a year term and the remaining USD 53,500,000 are settled over two years Grupo Supervielle has been complying with financial covenants. |
ASSETS AND LIABILITIES IN FOREI
ASSETS AND LIABILITIES IN FOREIGN CURRENCY | 12 Months Ended |
Dec. 31, 2022 | |
ASSETS AND LIABILITIES IN FOREIGN CURRENCY | |
ASSETS AND LIABILITIES IN FOREIGN CURRENCY | 28. ASSETS AND LIABILITIES IN FOREIGN CURRENCY At At 12/31/2022 (per currency) At Items 12/31/2022 Dollar Euro Real Others 12/31/2021 ASSETS Cash and Due from Banks 38,704,310 36,794,745 1,431,855 18,686 459,024 41,833,675 Government and corporate securities at fair value with changes in results 1,429,718 1,429,718 - - - 1,514,433 Derivatives 55,699 55,699 - - - 14,350 Other financial assets 1,769,736 1,769,736 - - - 1,385,443 Loans and other financing 18,198,894 18,197,280 1,052 - 562 30,054,095 Other Debt Securities 9,724,230 9,724,230 - - - 7,270,268 Financial assets in guarantee 969,770 969,770 - - - 2,117,659 Other non-financial assets 133,368 133,368 - - - 236,308 TOTAL ASSETS 70,985,725 69,074,546 1,432,907 18,686 459,586 84,426,231 LIABILITIES Deposits 54,960,339 54,175,328 785,011 — — 56,145,338 Non-financial public sector 1,925,433 1,925,157 276 - - 2,170,078 Financial sector 1,528 1,528 - - - 430 Non-financial private sector and foreign residents 53,033,378 52,248,643 784,735 - - 53,974,830 Liabilities at fair value with changes in results 869,077 869,077 - - - 1,341,954 Other financial liabilities 4,269,550 3,943,918 313,742 27 11,863 5,029,575 Financing received from the Argentine Central Bank and other financial entities 1,710,444 1,710,444 - - - 10,003,199 Other non-financial liabilities 297,471 297,469 - - 2 720,077 TOTAL LIABILITIES 62,106,881 60,996,236 1,098,753 27 11,865 73,240,143 NET POSITION 8,878,844 8,078,310 334,154 18,659 447,721 11,186,088 |
CURRENT_NON-CURRENT DISTINCTION
CURRENT/NON-CURRENT DISTINCTION | 12 Months Ended |
Dec. 31, 2022 | |
CURRENT/NON-CURRENT DISTINCTION | |
CURRENT/NON-CURRENT DISTINCTION | 29. CURRENT/NON-CURRENT DISTINCTION Grupo Supervielle has adopted the presentation of all assets and liabilities in order of liquidity due to this presentation provides information that is reliable and more relevant, As of December 31, 2022 and 2021, the amount expected to be recovered or settled after more than twelve months for each asset and liability line item is as follows: 12/31/2022 12/31/2021 No more than No more than 12 months More than 12 12 months More than 12 after the months after after the months after reporting the reporting reporting the reporting ASSETS period period Total period period Total Cash and due from banks 48,399,468 — 48,399,468 63,452,161 — 63,452,161 Cash 19,122,146 — 19,122,146 24,523,137 — 24,523,137 Argentine Central Bank 27,184,409 — 27,184,409 35,324,768 — 35,324,768 Other local financial institutions 2,064,305 — 2,064,305 2,353,797 — 2,353,797 Others 28,608 — 28,608 1,250,459 — 1,250,459 Debt Securities at fair value through profit or loss 22,384,677 — 22,384,677 38,486,623 — 38,486,623 Derivatives 295,555 — 295,555 432,164 — 432,164 Reverse Repo transactions 21,581,438 — 21,581,438 83,468,057 — 83,468,057 Other financial assets 8,107,119 — 8,107,119 27,120,979 — 27,120,979 Loans and other financing 188,125,734 47,465,464 235,591,198 225,329,776 77,523,617 302,853,393 To the non-financial public sector 41,241 236,461 277,702 44,292 — 44,292 To the financial sector 599,994 44,539 644,533 23,689 125,974 149,663 To the Non-Financial Private Sector and Foreign residents 187,484,499 47,184,464 234,668,963 225,261,795 77,397,643 302,659,438 Other debt securities 245,157,911 24,577,140 269,735,051 142,602,508 11,148,218 153,750,726 Financial assets in guarantee 14,468,665 — 14,468,665 16,635,209 — 16,635,209 Current income tax assets 976,073 — 976,073 1,714,745 — 1,714,745 Inventories 67,090 — 67,090 266,428 — 266,428 Investments in equity instruments — 502,560 502,560 — 514,799 514,799 Property, plant and equipment — 18,373,792 18,373,792 — 21,495,256 21,495,256 Investment Property — 16,903,052 16,903,052 — 16,943,351 16,943,351 Intangible assets — 22,275,852 22,275,852 — 22,249,482 22,249,482 Deferred income tax assets 1,813,368 10,383,500 12,196,868 945,220 5,356,254 6,301,474 Other non-financial assets 2,388,102 2,620,737 5,008,839 2,212,722 2,580,940 4,793,662 TOTAL ASSETS 553,765,200 143,102,097 696,867,297 602,666,592 157,811,917 760,478,509 12/31/2022 12/31/2021 No more than No more than 12 months More than 12 12 months More than 12 after the months after after the months after reporting the reporting reporting the reporting LIABILITIES period period Total period period Total Deposits 547,516,823 112 547,516,935 561,891,112 5,595 561,896,707 Non-financial public sector 27,843,116 — 27,843,116 22,352,551 — 22,352,551 Financial sector 101,430 — 101,430 76,162 — 76,162 Non-financial private sector and foreign residents 519,572,277 112 519,572,389 539,462,399 5,595 539,467,994 Liabilities at fair value through profit or loss 2,139,170 — 2,139,170 3,999,525 — 3,999,525 Other financial liabilities 17,423,147 682,335 18,105,482 45,229,097 1,093,193 46,322,290 Financing received from the Argentine Central Bank and other financial institutions 4,000,796 1,528,880 5,529,676 11,401,927 777,610 12,179,537 Unsubordinated negotiable Obligations 561,409 — 561,409 665,458 1,397,869 2,063,327 Provisions 10,720 1,680,936 1,691,656 128,920 1,650,849 1,779,769 Deferred income tax liability 181,543 — 181,543 120,258 — 120,258 Other non-financial liabilities 28,795,393 — 28,795,393 31,700,398 — 31,700,398 TOTAL LIABILITIES 600,629,001 3,892,263 604,521,264 655,136,695 4,925,116 660,061,811 |
OFFSETTING OF FINANCIAL ASSET A
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES | 12 Months Ended |
Dec. 31, 2022 | |
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES | |
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES | 30. OFFSETTING OF FINANCIAL ASSET AND LIABILITIES A financial asset and a financial liability shall be offset and the net amount presented in the statement of financial position when, and only when, Grupo Supervielle fulfill with paragraph 42 of IAS 32, and currently has a legally enforceable right to set off the recognized amounts; and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously, In addition, Grupo Supervielle has master netting arrangement that Does not satisfy the offsetting criteria but creates a right of set-off that becomes enforceable and affects the realization or settlement of individual financial assets and financial liabilities only following a specified event of default or in other circumstances not expected to arise in the normal course of business, As of December 31, 2022 and 2021, the amount of assets and liabilities subject to a master netting arrangement not offset is as follows: Net in Financial Amounts subject to a master Gross Amount Statements netting arrangement not offset 12/31/2022 amount (a) offset (b) (c) = (a) – (b) Financial asset / (Financial liability) Collateral Net amount Debts with businesses for consumption by our customers with credit card - - — (308,168) (8,539,292) (8,847,460) Derivatives instruments 86,965 116,784 203,748 - - — Total 86,965 116,784 203,748 (308,168) (8,539,292) (8,847,460) Net in Financial Amounts subject to a master Gross Amount Statements netting arrangement not offset 12/31/2021 amount (a) offset (b) (c) = (a) – (b) Financial asset / (Financial liability) Collateral Net amount Credit cards transactions — — — (12,246,472) 1,715,975 (10,530,497) Derivatives instruments 308,708 109,106 417,814 — — — Total 308,708 109,106 417,814 (12,246,472) 1,715,975 (10,530,497) |
Purchase of loan portfolio
Purchase of loan portfolio | 12 Months Ended |
Dec. 31, 2022 | |
Purchase of loan portfolio | |
Purchase of loan portfolio | 31 . Purchase of loan portfolio IUDÚ Compañía Financiera transferred to Banco Supervielle S.A. its loan portfolio under the following terms: (a) sale without recourse of credit portfolio, pledge loans and credit card contracts, (b)sale of the contractual position held by IUDU and (c) assignment of IUDU's contractual position with different vendors. Sale of IUDÚ financial products and services include the transfer to Banco Supervielle S.A. of the commercial exploitation rights of the respective user clients of such financial products and services. Likewise, Tarjeta Automática S.A. sold its loan portfolio to the Bank under the following terms: (a) non-recourse sale of the loan portfolio originated by Tarjeta Automática S.A. in its line of business through personal loans granted and credit card contracts. sale of the financial products and services of Tarjeta Automática S.A. include the transfer to Banco Supervielle S.A. of the commercial exploitation rights of the respective clients, of such financial products and services. During the months of October, November and December 2022 IUDU Compañía Financiera S.A. transferred a gross loan portfolio for a total of $17,626,854, for which Banco Supervielle S.A. paid the sum of $13,035,864. In turn, Tarjeta Automática S.A. transfererd a gross loan portfolio for a total of $176,231, for which Banco Supervielle S.A. paid the sum of $12,998. |
Repurchase of treasury shares
Repurchase of treasury shares | 12 Months Ended |
Dec. 31, 2022 | |
Repurchase of treasury shares | |
Repurchase of treasury shares | 32. Repurchase of treasury shares On July 20, 2022, the Company's Board of Directors approve a repurchase of treasury shares with a maximum amount to be invested of 2,000,000 or the lesser amount resulting from the acquisition until reaching 10% of the capital stock. The price to be paid for the shares will be up to a maximum of US$2.20 per ADR on the New York Stock Exchange and up to a maximum of $138 per Class B share on Bolsas y Mercados Argentinos S.A. The Company will acquire shares for a term of 250 calendar days from the entry into force of the program, subject to any renewal or extension of the term that is approved by the Board of Directors. The approved share program does not imply an obligation on the behalf of Grupo Supervielle with respect to the acquisition of a certain number of shares. On September 13, 2022, the Board of Directors of Grupo Supervielle S.A. approved to modify point 5 of the terms and conditions of the own shares acquisition plan approved on July 20, 2022 as follows: “5. The price to be paid for the shares will be up to a maximum of US$2.70 per ADR on the New York Stock Exchange and up to a maximum of $155 per Class B share on Bolsas y Mercados Argentinos S.A." The remaining terms and conditions will remain in force as they were approved. Subsequently, on December 27, 2022, Supervielle approved to modify point 5 of the terms and conditions of the own shares acquisition program approved on July 20, 2022 as follows: “5. The price to be paid for the shares will be up to a maximum of US$2.70 per ADR on the New York Stock Exchange and up to a maximum of $200 per Class B share on Bolsas y Mercados Argentinos S.A.” The remaining terms and conditions remain in force as approved. In the statement of Changes in Shareholders´ Equity, the nominal value of the repurchased shares is disclosed as "Own shares in portfolio" and its restatement as " Inflation adjustment of treasury shares ". The consideration paid, including directly attributable incremental cost, is deducted from equity until the shares are canceled or reissued, and is disclosed as “Cost of own shares in portfolio”. As of December 31, 2022, Grupo Supervielle has acquired 9,353,691 Class B Shares in ByMA and 591,384 ADRs (equivalent to 2,956,920 shares) in NYSE, for a total of 12,310,611 shares. After the end of the fiscal year, it has acquired 1,739,881 Class B Shares in ByMA, having acquired as of the date of issuance of these financial statements, a total of 11,093,572 Class B Shares in ByMA and 591,384 ADRs in NYSE reaching an execution of 86.3% of the program and 3.076% of the capital stock. |
Prior commitment to merge IUDU
Prior commitment to merge IUDU Compania Financiera S.A. and Automatic Card S.A with Banco Supervielle S.A. | 12 Months Ended |
Dec. 31, 2022 | |
Prior commitment to merge IUDU Compania Financiera S.A. and Automatic Card S.A with Banco Supervielle S.A. | |
Prior commitment to merge IUDU Compania Financiera S.A. and Automatic Card S.A with Banco Supervielle S.A. | 33. Prior commitment to merge IUDÚ Compañía Financiera S.A. and Tarjeta Automática S.A with Banco Supervielle S.A . On December 14, 2022, the board of directors of Banco Supervielle S.A. accepted a merge commitment by absorption, as absorbing company, with IUDÚ Compañía Financiera S.A. and Tarjeta Automática S.A., as absorbed companies. The absorption of these two companies will make it possible to offer services to the consumer financing segment in a much more efficient manner, simplifying the corporate structure and completing the integration that began in September 2022 with the migration of clients and the IUDU financing portfolio to the Bank. Customers who have IUDU accounts will be able to maintain a 100% digital experience while having the rest of the Bank's service channels available. Said decision is subject to the definitive approval of the Shareholders meeting and the approval by the Central Bank of the Argentine Republic. |
MINIMUM CAPITAL REQUIREMENTS
MINIMUM CAPITAL REQUIREMENTS | 12 Months Ended |
Dec. 31, 2022 | |
MINIMUM CAPITAL REQUIREMENTS | |
MINIMUM CAPITAL REQUIREMENTS | 34 . MINIMUM CAPITAL REQUIREMENTS The Central Bank requires financial institutions to maintain minimum capital amounts measured as of each month's closing, The minimum capital is defined as the greater of (i) the basic minimum capital requirement, which is explained below, or (ii) the sum of the credit risk, operational risk and market risk, Financial institutions (including their domestic Argentine and international branches) must comply with the minimum capital requirements both on an individual and a consolidated basis. The following table sets forth information regarding excess capital and selected capital and liquidity ratios of the Bank, consolidated with IUDÚ: As stated above under "Presentation of Financial and Other Information", we have prepared our audited consolidated financial statements for 2022, 2021 and 2020 under IFRS, Minimum capital requirement has been prepared in accordance with the rules of the Argentine Central Bank, which is not comparable to data prepared under IFRS. Year ended December 31, (2) 2022 2021 2020 (in thousands of Pesos except percentages and ratios) Calculation of excess capital: Allocated to assets at risk 20,729,624 12,957,481 9,047,140 Allocated to Bank premises and equipment, intangible assets and equity investment assets 3,747,910 2,035,689 1,350,035 Market risk 1,693,962 965,159 551,765 Public sector and securities in investment account, 625,570 34,489 27,651 Operational risk 8,188,453 4,805,957 3,233,793 Required minimum capital under Central Bank rules 34,985,519 20,798,775 14,210,384 Basic net worth 77,619,877 42,938,440 30,242,263 Complementary net worth 2,600,170 1,564,272 1,090,865 Deductions (25,063,540) (11,770,286) (7,028,227) Total capital under Central Bank rules 55,156,507 32,732,426 24,304,901 Excess capital 20,170,988 11,933,651 10,094,517 Risk Weighted Assets (1) 428,238,464 254,513,436 173,834,352 Selected capital and liquidity ratios: Regulatory capital/risk weighted assets 12.9 % 12.9 % 14.0 % Average shareholders’ equity as a percentage of average total assets 12.2 % 12.5 % 11.2 % Total liabilities as a multiple of total shareholders’ equity 8.3x 7.5x 7.5x Cash as a percentage of total deposits 8.7 % 11.1 % 20.3 % Liquid assets as a percentage of total deposits (3) 46.0 % 49.2 % 49.7 % Tier 1 Capital / risk weighted assets 12.3 % 12.2 % 13.4 % (1) Risk Weighted Assets includes operational risk weighted assets, market risk weighted assets, and credit risk weighted assets, Operational risk weighted assets and market risk weighted assets are calculated by multiplying their respective required minimum capital under Central Bank rules by 12.5 , Credit Risk Weighted Assets is calculated by applying the respective credit risk weights to our assets, following Central Bank rules, (2) Nominal values without inflation adjustment, (3) Liquid assets include cash, securities issued by the Central Bank, and Repo transactions with the Central Bank. This ratio does not consider other government securities held by the Company to set Minimum Reserve Requirements. |
ECONOMIC CONTEXT ON GROUP'S OPE
ECONOMIC CONTEXT ON GROUP'S OPERATIONS | 12 Months Ended |
Dec. 31, 2022 | |
ECONOMIC CONTEXT ON GROUPS OPERATIONS | |
ECONOMIC CONTEXT ON GROUPS OPERATIONS | 35. ECONOMIC CONTEXT ON GROUP´S OPERATIONS Grupo Supervielle operates in an economic context marked by strong volatility, both nationally and internationally. In recent months, the behavior of international markets has been affected by the persistence of significant global inflationary pressures, and the geopolitical conflict between Russia and Ukraine, among other factors. Consequently, the global economic recovery continues to progress, but at a slower pace than previously forecasted growing 3.4% in 2022 compared to 6.2% in 2021, according to the IMF’s estimates, while GDP in developed countries and emerging countries increased 2.7% and 3.9% , respectively. The current global context appears to be converging towards a scenario of more moderate economic growth with tightening of financing conditions, to which are added additional inflationary pressures due to delays in production chains and the rise in the prices of some raw materials. The reappearance of high inflation globally observed in 2021 continued in 2022. The combination of monetary issue, especially to alleviate the consequences of the health crisis, higher international inflation expectations and the rebound in the cycle, led to the end of 2021 with an annual inflation rate of 50.9% in December 2021, in a context where the monetary base increased 40% annually, to global inflation accelerating to 6.4% . In addition, throughout the year some controls on access to the wholesale exchange market were increased. The official exchange rate depreciated 20.7% in the year, equivalent to 30.2 % less than inflation. During the year 2022, this trend continued, observing an accumulated depreciation of the exchange rate in the year the year of 72.4% , below the evolution of inflation in said period, which amounted to 94.8% . Likewise, in the last part of the year, preferential exchange rates were established for soybeans and derivatives to encourage greater currency settlement in the agricultural export sector, which implied agricultural settlements between September and December for USD 11,826 million. The start of the war conflict between Russia and Ukraine in February 2022, and the economic and financial sanctions imposed on Russia, add new impacts to the world economy and a significant change in the terms of trade, as a result of the increase in the price of raw materials, including food and gas. From the point of view of the trade balance, Argentina had a positive impact from higher agricultural prices, but this was partially offset by the negative impact from higher gas imports. In March 2022, the Government announced that it had reached an Agreement with the International Monetary Fund (IMF), which was approved by the Argentine National Congress on March 11. Said Agreement was implemented through an Extended Fund Facility, with a repayment term of more than 10 years , which sets fiscal, monetary and exchange guidelines with quarterly reviews. The program seeks to address persistent high inflation through policies that contribute to the reduction of monetary financing of the fiscal deficit, together with positive real interest rates that support domestic financing and targets for increasing net reserves. Under this local and international context, the inflationary dynamic continues to rise. Faced with this scenario, the monetary authority continued to try to normalize the different interest rates in the economy, which allow the value of investments made in instruments denominated in domestic currency to be safeguarded and to avoid pressure on the exchange market. As of the date of issuance of these financial statements, the BCRA raised the LELIQ interest rate, making consecutive increases that brought the rate from 38% at the end of 2021, to 75% per year; In the same sense, it raised the minimum interest rate on fixed terms for individuals, establishing a new floor of 75% per year, while for the rest of the sectors the minimum rate went to 66.5% . In the year 2022, and in line with the budget forecasts within the framework of the agreement with the IMF, the net financing of the National Treasury contemplated, in addition to the financing obtained in the tenders for market instruments, net transfers of $620 billion via temporary advances . Faced with the context of volatility in the public debt market, which became evident as of June, the BCRA began to offer financial entities a put option on the National Government securities awarded as of July of 2022 and that expire before December 31, 2023. This measure seeks to reduce the volatility of the prices of Treasury instruments and provide entities with new tools to manage their liquidity. Grupo Supervielle´s Exposure to Public Sector Central Bank of Argentina (including repo transactions) 248,636,378 Treasury Bills 28,559,125 Government Securities 33,482,394 Exposure to Government Securities and Treasury Bonds 310,677,897 Loans to Public Sector 277,702 Total exposure to Public Sector 310,955,599 Over Total Assets 44.62% Over Shareholder´s equity 336.73% For all of the above, Grupo Supervielle's Management permanently monitors the evolution of the situations mentioned in the international markets and at the local level, to identify possible impacts on its patrimonial and financial situation, and determine the possible actions to be adopted. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2022 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | 36. On March 1, 2023 Banco Supervielle S.A. and Dorinka S.R.L decided by mutual agreement to terminate the financial services contract that their consumer financing company, IUDU Compañía Financiera, had entered into with Dorinka on August 24, 2021, by which IUDU would offer its financial products and services through Dorinka points of sale. This decision is in line with the Bank's strategy of focusing on profitability and having less exposure to the consumer financing segment. |
ACCOUNTING STANDARDS AND BASI_2
ACCOUNTING STANDARDS AND BASIS OF PREPARATION (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
Basis of preparation | These Consolidated Financial Statements have been prepared in accordance with IFRS as adopted by the International Accounting Standards Board (“IASB”). The preparation of Financial Statements at a certain date requires Management to make estimations and evaluations affecting the amount of assets and liabilities recorded and contingent assets and liabilities disclosed at such date, as well as income and expenses recorded during the year. Actual results might differ from the estimates and evaluations made at the date of preparation of these Consolidated Financial Statements. The most significant judgments made by Management in applying Grupo Supervielle’s accounting policies and the major estimations and significant judgments are described in Note 2. These consolidated financial statements as of December 31, 2022, were approved by resolution of the Board of Directors' meeting held on April 26, 2023. |
Going concern | The consolidated financial statements as of December 31, 2022, 2021 and 2020 have been prepared on a going concern basis as there is a reasonable expectation that Grupo Supervielle will continue its operational activities in the foreseeable future (and in any event with a time horizon of more than twelve months from the end of the reporting period). |
Measuring Unit - IAS 29 (Financial reporting in hyperinflationary economies) | The Consolidated Financial Statements of the Entity are expressed in Argentine pesos which is the functional currency of the Group. IAS 29 establishes the conditions under which an entity shall restate its financial statements if it is located in an economic environment considered hyperinflationary. This Standard requires that the financial statements of an entity that reports in the currency of a highly inflationary economy shall be stated in terms of the measuring unit current at the closing date of the latest reporting period, regardless of whether they are based on a historical cost approach or a current cost approach. To this end, in general terms, the inflation rate must be computed in the non-monetary items as from the acquisition date or the revaluation date, as applicable. These requirements also comprise the comparative information of the financial statements. To determine the existence of a highly inflationary economy under the terms of IAS 29, the standard details a series of factors to consider, including a cumulative inflation rate over three years that is close to or exceeds 100%. It is important to highlight that the three-year accumulated inflation rate as of December 31, 2022 reached 300.3. Consequently, the Company has restated its consolidated financial statements in the terms of IAS 29 for the year ended December 31, 2022. Grupo Supervielle determined to use the Internal Wholesale Price Index (IWPI) to restate balances and transactions until the year 2016, for the months of November and December 2015 the average variation of the Consumer Price Index (CPI) of the City of Buenos Aires was used, due to the fact that during those two months there were no IWPI measurements at national level. Then, from January 2017 omwards, Grupo Supervielle used the National Consumer Price Index (National CPI). The tables below show the evolution of these indexes in the last three years and as of December 31, 2022 according to official statistics (INDEC): As of December 31, Variation in Prices 2020 2021 2022 Annual 36.1 % 50.9 % 94.8 % Accumulated 3 years 209.2 % 216.1 % 300.3 % As a consequence of the aforementioned, these Consolidated Financial Statements as of December 31, 2022 were restated in accordance with the provisions of IAS 29. Restatement of the Financial Position Grupo Supervielle restated all the non-monetary items in order to reflect the impact of inflation in terms of the measuring unit current as of December 31, 2022. Consequently, the main items restated were Property, Plant and Equipment, Intangible assets, Goodwill, Inventories and Equity. Each item must be restated since the date of the initial recognition in Grupo Supervielle's accounts or since the date of the last revaluation. Monetary items have not been restated because they are stated in terms of the measuring unit current as of December 31, 2022. Comparative figures must also be presented in the measuring unit current as of December 31, 2022. Therefore, comparative figures for the previous reporting periods have been restated by applying a general price index, so that the resulting comparative financial statements are presented in terms of the measuring unit current at the end of the reporting period. Restatement of the Income Statement and the Statement of Cash Flows In the Income Statement, items shall be restated from the dates when the items of income and expense were originally recorded. To this end, Grupo Supervielle applied the variations in the consumer price index. The effect of inflation on the net monetary position is included in the Income Statement under Results from exposure to changes in the purchasing power of money. The items of the Statement of Cash Flows must also be restated in terms of the measuring unit current at the closing date of the Statement of Financial Position. IAS 29 para 33 states that all items in the statement of cash flows are expressed in terms of the measuring unit current at the end of the reporting period. The loss arising from the restatement has an impact on the Income Statement and must be eliminated from the Statement of Cash Flows because it is not considered to be cash and cash equivalent. Restatement of the Statement of Changes in Shareholder’s Equity All components of the Statement of Changes in Shareholder’s Equity must be restated from the dates on which the items were contributed or otherwise arose. |
Change in accounting policies and new accounting standards | The Group has applied the following amendments for the first time for their annual reporting period commencing 1 January 2022: (a) Amendments to IFRS 3 “Business Combinations”, IAS 16 “Property, plant and equipment” and IAS 37 “Provisions, contingent liabilities and contingent assets” IAS 16, 'Property, plant and equipment (PPE) - income before intended use' IAS 16 requires that the cost of an asset includes any costs attributable to bringing the asset to the location and condition necessary for it to be able to operate in the manner intended by management. One of those costs is testing whether the asset is working properly. The amendment to IAS 16 prohibits an entity from deducting from the cost of an item of PP&E any proceeds received from selling items produced while the entity is preparing the asset for its intended use (for example, the proceeds from selling samples produced when testing a machine to see if it is working properly). The proceeds from selling such samples, together with the costs of producing them, are now recognized in profit or loss. An entity will use IAS 2, “Inventory”, to measure the cost of those items. Cost will not include depreciation of the asset being tested because it is not ready for its intended use. The amendment also clarifies that an entity is “testing whether the asset is working properly” when it assesses the technical and physical performance of the asset. The financial performance of the asset is not relevant to this assessment. Therefore, an asset may be able to operate as intended by management and subject to depreciation before it has achieved the level of operating performance expected by management. The amendment requires entities to separately disclose the amounts of proceeds and costs relating to items produced that are not an output of the entity’s regular activities. An entity shall also disclose the line item in the statement of comprehensive income where the proceeds are included. IAS 37 “Provisions, contingent liabilities and contingent assets - Onerous contracts – Cost of fulfilling a contract” lAS 37 defines an onerous contract as one in which the unavoidable costs of meeting the entity’s obligations exceed the economic benefits to be received under that contract. Unavoidable costs are the lower of the net cost of exiting the contract and the costs to fulfil the contract. The amendment clarifies the meaning of ‘costs to fulfil a contract’. The amendment explains that the direct cost of fulfilling a contract comprises: ● the incremental costs of fulfilling that contract (for example, direct labour and materials); and ● an allocation of other costs that relate directly to fulfilling contracts (for example, an allocation of the depreciation charge for an item of PP&E used to fulfil the contract). The amendment also clarifies that, before a separate provision for an onerous contract is established, an entity recognises any impairment loss that has occurred on assets used in fulfilling the contract, rather than on assets dedicated to that contract. The amendment could result in the recognition of more onerous contract provisions, because previously some entities only included incremental costs in the costs to fulfil a contract. IFRS 3, ‘Business combinations - Reference to the Conceptual Framework’ The Board has updated IFRS 3, 'Business combinations', to refer to the 2018 Conceptual Framework for Financial Reporting, in order to determine what constitutes an asset or a liability in a business combination. Prior to the amendment, IFRS 3 referred to the 2001 Conceptual Framework for Financial Reporting. In addition, the Board added a new exception in IFRS 3 for liabilities and contingent liabilities. The exception specifies that, for some types of liabilities and contingent liabilities, an entity applying IFRS 3 should instead refer to IAS 37, ‘Provisions, Contingent Liabilities and Contingent Assets’, or IFRIC 21, ‘Levies’, rather than the 2018 Conceptual Framework. Without this new exception, an entity would have recognised some liabilities in a business combination that it would not recognise under IAS 37. Therefore, immediately after the acquisition, the entity would have had to derecognise such liabilities and recognise a gain that did not depict an economic gain. The adoption of this new standard did not have a significant impact in the consolidated financial statements. (b) Annual Improvements 2018-2020 Fees included in the 10% test for derecognition of financial liabilities The amendment to IFRS 9 establishes which fees should be included in the 10% test for derecognition of financial liabilities. Costs or fees could be paid to either third parties or the lender. Under the amendment, costs or fees paid to third parties will not be included in the 10% test. Illustrative examples accompanying IFRS 16 Leases Illustrative Example 13 accompanying IFRS 16 is amended to remove the illustration of payments from lessor relating to lease improvements. The reason for the amendment is to remove any potential confusion about the treatment of lease incentives. Subsidiaries as First-time adopters of IFRS IFRS 1 grants an exemption to subsidiaries that become a first-time adopter of IFRS after their parent. The subsidiary may measure the carrying amounts of its assets and liabilities that would have been included in the consolidated financial statements of its parent, based on the transition date to IFRS of the parent if no adjustments were made for reasons of consolidation and for the purposes of the business combination by which the parent acquired the subsidiary. IFRS 1 was amended to allow entities that have taken this IFRS 1 exemption to also measure cumulative translation differences using the amounts reported by the parent, based on the transition date to IFRS of the parent. The amendment to IFRS 1 extends the above-mentioned exemption to cumulative translation differences in order to reduce costs for first-time adopters of IFRS. The amendment will also apply to associates and joint ventures that have taken the same exemption from IFRS 1. Taxation in fair value measurements The Board has removed the requirement for entities to exclude cash flows for taxation when measuring fair value under IAS 41, ‘Agriculture’. This amendment is intended to align with the requirement in the standard to discount cash flows on a post-tax basis. The adoption of this new standard did not have an significant impact in the consolidated financial statements. Certain new accounting standards, amendments to accounting standards and interpretations have been published that are not mandatory for 31 December 2022 reporting periods and have not been early adopted by the Group: (a) IFRS 17 “Insurance contracts” On May 18, 2017, IASB issued IFRS 17 “Insurance contracts” which provides a comprehensive framework based on principles for measurement and presentation of all insurance contracts. The new rule will supersede IFRS 4 Insurance contracts and requires that insurance contracts be measured using cash flows of existing enforcement and that income be recognized as the service is rendered during the coverage period. The standard will come into force for the fiscal years beginning as from January 1, 2023. The adoption of this Standard is not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions (b) Amendments to IAS 1 “Presentation of Financial Statements”, IFRS Practice Statement 2 and IAS 8 “Accounting Policies, changes in accounting estimates and errors” The IASB amended IAS 1, “Presentation of Financial Statements”, to require companies to disclose material accounting policy information rather than significant accounting policy information. The amendment also clarifies that accounting policy information is expected to be material or of relative importance if, without it, users of the financial statements would be unable to understand other material information, or of relative importance, in the financial statements concerning significant accounting standards. To support this amendment, the Board also amended IFRS Practice State 2, “Making Materiality Judgments”, to provide guidance on how to apply the concept of materiality to accounting policy disclosures. The amendment to IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors”, helps to distinguish between changes in accounting policies from changes in accounting estimates. This distinction is important because changes in accounting estimates are applied prospectively to future transactions and other future events, but changes in accounting policies are generally applied retrospectively to past transactions and other past events as well as to those of the current period. These amendments are applicable to annual periods beginning on or after January 1, 2023. Early application is allowed. Changes shall be applied prospectively. The adoption of this Standard is not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. (c) Amendments to IAS 12 Deferred tax related to assets and liabilities arising from a single transaction The IASB has amended IAS 12, 'Income taxes', to require companies to recognise deferred tax on particular transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. The proposed amendments will typically apply to transactions such as leases for the lessee and decommissioning obligations. Paragraphs 15 and 24 of IAS 12 were amended to include an additional condition where the initial recognition exemption is not applied. According to the amended guidance, a temporary difference that arises on initial recognition of an asset or liability is not subject to the initial recognition exemption if that transaction gave rise to equal amounts of taxable and deductible temporary differences. Paragraph 22A has been added to provide further clarification of this principle. Paragraphs 22(b) and 22(c) of IAS 12 have also been amended. In addition, the Illustrative Examples accompanying IAS 12 have been amended to include Example 8 – Leases, to illustrate the new guidance. Finally, there have been some consequential amendments to IFRS 1, ‘First-time Adoption of International Financial Reporting Standards’. Deferred tax related to assets and liabilities arising from a single transaction has been added to the list of the exceptions to the retrospective application of other IFRSs. These amendments should be applied for annual periods beginning on or after 1 January 2023. Earlier application is permitted. The Group evaluated that there will be no impact from the application of this standard. (d) Amendments to IAS 16 – Leases These amendments include requirements for sale and leaseback transactions in IFRS 16 to explain how an entity accounts for a sale and leaseback after the transaction date. Sale and leaseback transactions where some or all of the lease payments are variable lease payments that do not depend on an index or rate are most likely to be impacted. The amendments will be effective for the annual periods beginning on or after January 1, 2024. Grupo Supervielle is currently evaluating the impact that this amendment may have on its consolidated financial statements. (e) Amendments to IAS 1 – Non-current assets with covenants. These amendments clarify how conditions with which an entity must comply within twelve months after the reporting period affect the classification of a liability. The amendments will be effective for the annual periods beginning on or after January 1, 2024. Grupo Supervielle is currently evaluating the impact that this amendment may have on its consolidated financial statements. |
Consolidation | A subsidiary is an entity (or subsidiary), including structured entities, in which Grupo Supervielle has control. The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. The existence and the effect of the substantive rights, including substantive rights of potential vote, are considered when evaluating whether Grupo Supervielle has power over the other entity. For a right to be substantive, the right holder must have the practical ability to exercise such right whenever it is necessary to make decisions to direct the activities of the entity Grupo Supervielle can have control over an entity, even when it has less voting powers than those required for the majority. Accordingly, the protective rights of other investors, as well as those related to substantive changes in the subsidiary´ activities or applicable only in unusual circumstances, do not prevent Grupo Supervielle from having power over a subsidiary. The subsidiaries are consolidated from the date on which control is transferred to Grupo Supervielle. They are deconsolidated from the date that control ceases. The following chart details the subsidiaries included in the consolidation process: Percentage of direct or indirect investment in capital stock Company Main Activity 12/31/2022 12/31/2021 12/31/2020 Banco Supervielle S.A. Commercial Bank 99.90 % (1) 99.90 % (1) 99.90 % (1) IUDÚ Compañia Financiera S.A Financial Company 99.90 % 99.90 % 99.90 % Tarjeta Automática S.A. Credit Card 99.91 % 99.99 % 99.99 % Supervielle Asset Asset Management 100.00 % 100.00 % 100.00 % Sofital S.A.F. e I.I. Real State 100.00 % 100.00 % 100.00 % Espacio Cordial de Servicios S.A. Retail Services 100.00 % 100.00 % 100.00 % Supervielle Seguros S.A. Insurance 100.00 % 100.00 % 100.00 % Micro Lending S.A.U. Financial Company 100.00 % 100.00 % 100.00 % InvertirOnline S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Portal Integral de Inversiones S.A.U. Representations 100.00 % 100.00 % 100.00 % IOL Holding S.A. Financial Company 100.00 % 100.00 % — % Agente de Valores S.A. Financial Company 100.00 % 100.00 % — % Supervielle Productores Asesores de Seguros S.A. Insurance Broker 100.00 % 100.00 % 100.00 % Bolsillo Digital S.A.U. Fintech 100.00 % 100.00 % 100.00 % Supervielle Agente de Negociación S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Dólar IOL S.A.U. Financial Company 100.00 % 100.00 % 100.00 % (1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.87% , as of 12/31/2022, 12/31/2021 and 12/31/2020 respectively. For consolidation purposes, financial statements corresponding to the year ended December 31, 2022 were used, which cover the same period of time with respect to Grupo Supervielle's financial statements. Inter-company transactions, balances and unrealised gains on transactions between Grupo Supervielle companies are eliminated. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, statement of comprehensive income, statement of changes in equity and balance sheet respectively. In accordance with the provisions of IFRS 3, the acquisition method is the one used to account for the acquisition of subsidiaries. The identifiable assets acquired and the liabilities and contingent liabilities assumed in a business combination are measured at their fair values on the date of acquisition. The excess of the: (i)consideration transferred, (ii) amount of any non-controlling interest in the acquired entity, and (iii) acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. The consideration transferred for the acquisition of a subsidiary comprises the: (i) fair values of the assets transferred, (ii) liabilities incurred to the former owners of the acquired business, (iii) equity interests issued by the group, (iv) fair value of any asset or liability resulting from a contingent consideration arrangement, and (v) fair value of any pre-existing equity interest in the subsidiary. |
Transactions with non-controlling interest | Grupo Supervielle treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of Grupo Supervielle. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized in a separate reserve within equity attributable to owners of Grupo Supervielle. |
Segment Reporting | An operating segment is defined as a component of an entity or a Group that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same entity), and whose financial information is evaluated on a regular basis by the chief operating decision maker. Operating segments are reported in a manner consistent with the internal reporting provided to: (i) Key personnel of the senior management who account for the main authority in operating decision-making processes and is responsible for allocating resources and assessing the performance of operating segments; and (ii) The Board, who is in charge of making strategic decisions of Grupo Supervielle. |
Foreign currency translation | (a) Functional and presentation currency Figures included in the Consolidated Financial Statements of each of Grupo Supervielle’s entities are measured using the functional currency, that is, the currency of the primary economic environment in which the entity operates. Consolidated Financial Statements are presented in Argentine pesos, which is the functional and presentation currency of Grupo Supervielle. Conversion of subsidiaries Participations in subsidiary companies, whose functional currency is different from the Argentine peso, are converted, first, to the functional currency of Grupo Supervielle, and then adjusted for inflation (see note 1.1.2). The results and financial position of the subsidiaries with a functional currency other than the Argentine peso are translated into Grupo Supervielle's functional currency in accordance with the provisions of IAS 21 "Effects of changes in foreign currency exchange rates", as follows: • • Subsequently, the converted balances were adjusted for inflation in order to present them in the measuring unit current at the end of the reporting period. All the differences resulting from the translation were recognized in the caption "Foreign currency translation adjustment " of the consolidated statement of other comprehensive income. In the case of sale or disposal of any of the subsidiaries, the accumulated conversion differences must be recognized in the Statement of Comprehensive Income as part of the gain or loss from the sale or disposal. (b) Transactions and balances Transactions in foreign currency are translated into the functional currency using the exchange rates published by the Argentine Central Bank at the dates of the transactions. Gains and losses in foreign currency resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currency at year end exchange rates, are recognized in the income statement, under "Exchange rate differences on gold and foreign currency". As of December 31, 2022 and 2021, the balances in U.S. dollars were converted at the reference exchange rate determined by the Argentine Central Bank. In the case of foreign currencies other than U.S. dollars, they have been converted to this currency using the exchange rates derived from repo transactions reported by the Argentine Central Bank. |
Cash and due from banks | Cash and due from Banks includes available cash and unrestricted deposits held in Banks, which are short-term liquid instruments and have original maturities of less than three months. Assets disclosed under cash and due from Banks are measured at amortized cost which is close to its fair value. Cash and Cash equivalents include cash and highly liquid short-term securities with an original maturity of less than three-months according to the following detail: Item 12/31/2022 12/31/2021 12/31/2020 Cash and due from banks 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss 5,610,509 20,265,790 5,494,141 Money Market Funds 390,860 3,410,049 2,713,997 Cash and cash equivalents 54,400,837 87,128,000 116,041,061 Reconciliation between balances as appearing on the Statement of Financial Position and the items in the Statement of Cash Flow: Items 12/31/2022 12/31/2021 12/31/2020 Cash and due from Banks As per Statement of Financial Position 48,399,468 63,452,161 107,832,923 As per the Statement of Cash Flow 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss As per Statement of Financial Position 22,384,677 38,486,623 29,025,766 Securities not considered a cash equivalents (16,774,168) (18,220,833) (23,531,625) As per the Statement of Cash Flow 5,610,509 20,265,790 5,494,141 Money Market Funds As per Statement of Financial Position – Other financial assets 8,107,119 27,120,979 12,599,580 Other financial assets not considered a cash equivalents (7,716,259) (23,710,930) (9,885,583) As per the Statement of Cash Flow 390,860 3,410,049 2,713,997 Reconciliation of liabilities from financing activities at December 31, 2022, 2021 and 2020 is as follows: Cash Flows Other non-cash Items 12/31/2021 Inflows Outflows movements 12/31/2022 Unsubordinated debt securities 2,063,327 — (1,501,918) — 561,409 Financing received from the Argentine Central Bank and other financial institutions 12,179,537 167,932,069 (174,581,930) — 5,529,676 Lease Liabilities 2,645,808 — (2,545,549) 1,468,203 1,568,462 Total 16,888,672 167,932,069 (178,629,397) 1,468,203 7,659,547 Cash Flows Other non-cash Items 12/31/2020 Inflows Outflows movements 12/31/2021 Unsubordinated debt securities 12,427,653 4,386,933 (14,751,259) — 2,063,327 Subordinated debt securities 3,353,254 — (3,353,254) — — Financing received from the Argentine Central Bank and other financial institutions 17,207,143 63,017,533 (68,045,139) — 12,179,537 Lease Liabilities 3,474,475 — (4,727,463) 3,898,796 2,645,808 Total 36,462,525 67,404,466 (90,877,115) 3,898,796 16,888,672 Cash Flows Other non-cash Items 12/31/2019 Inflows Outflows movements 12/31/2020 Unsubordinated debt securities 24,363,308 7,802,825 (19,951,590) 213,110 12,427,653 Subordinated debt securities 8,485,616 — (5,216,762) 84,400 3,353,254 Financing received from the Argentine Central Bank and other financial institutions 36,096,182 43,731,367 (62,620,406) — 17,207,143 Lease Liabilities 3,788,265 — (4,016,850) 3,703,060 3,474,475 Total 72,733,371 51,534,192 (91,805,608) 4,000,570 36,462,525 |
Associated | Associates are entities over which Grupo Supervielle has significant influence (directly or indirectly), but not control, generally accompanying a stake of between 20 and 50 percent of the voting rights. Investments in associates are accounted for using the equity method, and are initially recognized at cost. The book value of the associates includes the goodwill identified in the acquisition less accumulated impairment losses, if applicable. Dividends received from associates reduce the book value of the investment. Other changes subsequent to the acquisition in Grupo Supervielle's participation in the net assets of an associate are recognized as follows: (i) Grupo Supervielle's participation in the gains or losses of associates is recorded in the income statement as profit or loss by associates and joint ventures and (ii) Grupo Supervielle's share in other comprehensive income is recognized in the statement of other comprehensive income and is presented separately. However, when Grupo Supervielle's share of losses in an associate equals or exceeds its interest in the associate, Grupo Supervielle will cease to recognize its share of additional losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized gains on transactions between Grupo Supervielle and its associates are eliminated to the extent of Grupo Supervielle's participation in the associates; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. |
Financial Instruments | Initial Recognition and measurement Financial assets and financial liabilities are recognized when the entity becomes a party to the contractual provisions of the instrument. Purchases and sales of financial assets are recognized on trade-date, the date on which Grupo Supervielle commits to purchase or sell the asset. At initial recognition, Grupo Supervielle measures financial assets or liabilities at fair value, plus or less, for instruments not recognized at fair value through profit or loss, transaction costs that are directly attributable to the acquisition, such as fees and commissions. When the fair value of financial assets and liabilities differs from the transaction price on initial recognition, Grupo Supervielle recognizes the difference as follows: ● When the fair value is evidenced by a quoted price in an active market for an identical asset or liability or based on a valuation technique that only uses data from observable markets, the difference is recognized as a gain or loss. ● In all other cases, the difference is deferred and the timing of recognition of deferred day one profit or loss is determined individually. It is either amortized over the life of the instrument until its fair value can be determined using market observable inputs, or realized through settlement. Financial Assets a – Debt Instruments Debt instruments are those instruments that meet the definition of a financial liability from the issuer’s perspective, such as loans, government and corporate bonds and, accounts receivables purchased from clients in non-recourse factoring transactions. Classification Pursuant to IFRS 9, the Entity classifies financial assets depending on whether these are subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss, on the basis of: a) Grupo Supervielle’s business model for managing financial assets, and; b) the cash-flows characteristics of the financial asset Business Model The business model refers to the way in which Grupo Supervielle manages a set of financial assets to achieve a specific business objective. It represents the way in which Grupo Supervielle maintains the instruments for the generation of funds. The business models that Grupo Supervielle can follow are the following: - - - Grupo Supervielle determines its business model at the level that best reflects how it manages groups of financial assets to achieve a specific business objective. The business model of Grupo Supervielle does not depend on the management’s intentions for an individual instrument. Therefore, this business model is not evaluated instrument by instrument, but at a higher level of aggregated portfolios and is based on observable factors such as: ● How the business model’s return is evaluated and how financial assets held in that business model are evaluated and reported to Grupo Supervielle’s key personnel. ● The risks affecting the business model’s return (and financial assets held in that business model) and, particularly, the way these risks are managed. ● How Grupo Supervielle’s key personnel is compensated (for instance, if salaries are based on the fair value of the assets managed or on contractual cash flows collected) ● The expected frequency, the value, moment and reasons of sales are also important aspects. The evaluation of the business model is based on reasonably expected scenarios, irrespective of worst-case or stress case scenarios. If after the initial recognition cash flows are realized in a different manner from the original expectations, Grupo Supervielle will not change the classification of the remaining financial assets held in that business model, but it will consider such information for evaluating recent purchases or originations. An instrument’s reclassification is only made when, and only when, an entity changes its business model for managing financial assets. Contractual Cash Flow Characteristics Where the business model is to hold assets to collect contractual cash flows or to collect contractual cash flows and sell, Grupo Supervielle assesses whether the financial instruments’ cash flows represent solely payments of principal and interest. Where the contractual terms introduce exposure to risk or volatility that are inconsistent with a basic lending arrangement, the related financial asset shall be classified and measured at fair value through profit or loss. Based on the aforementioned, there are three different categories of Financial Assets: i) Financial assets shall be measured at amortized cost if both of the following conditions are met: (a) the financial asset is held for collection of contractual cash flows, and (b) the assets’s cash flows represent solely payments of principal and interest. The amortized cost is the amount at which it is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest rate method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any loss allowance. The effective interest rate is the rate that exactly discounts estimated future cash recepits through the expected life of the financial asset to the gross carrying amount of a financial asset (i.e. its amortised cost before any impairment allowance).When applying this method, Grupo Supervielle identifies the incremental direct costs as an integral part of the effective interest rate. ii) Financial assets shall be measured at fair value through other comprehensive income when: (a) the financial asset is held for collection of contractual cash flows and for selling financial assets and (b) the asset’s cash flows represent solely payments of principal and interest. These financial instruments are initially recognized at fair value plus incremental and directly attributable transaction costs, and are subsequently measured at fair value through other comprehensive income. Gains and losses arising from changes in fair value are included in other comprehensive income within a separate component of equity. Losses or reversals due to impairment, interest income and exchange rate gains and losses are recognized inprofit or loss. At the time of its sale or disposal, the accumulated gain or loss previously recognized in other comprehensive income is reclassified from equity to the consolidated income statement. iii) Financial assets at fair value through profit or loss comprise: ● Instruments held for trading ● Instruments specifically designated at fair value through profit or loss ● Instruments with contractual cash-flows that do not represent solely payments of principal and interest These financial instruments are initially recognized at fair value and any change in fair value measurement is charged to the income statement. Grupo Supervielle classifies a financial instrument as held for trading if such instrument is acquired or incurred for the main purpose of selling or repurchasing it in the short term, or it is part of a portfolio of financial instruments which are managed together and for which there is evidence of short-term profits or if it is a derivative financial instrument not designated as a hedging instrument. Derivatives and trading securities are classified as held for trading and are measured at fair value. The fair value of these instruments was calculated using the quotes in active markets at the end of each fiscal year. In the absence of an active market, valuation techniques were used that included the use of market operations carried out under conditions of mutual independence, between interested and duly informed parties, whenever available, as well as references to the current fair value of another instrument that is substantially similar, or discounted cash flow analysis. The estimation of fair values is explained in greater detail in the section “critical accounting policies and estimates”. In addition, financial assets may be valued (“designated”) at fair value through profit or loss when, by doing so, Grupo Supervielle eliminates or significantly reduces a measurement or recognition inconsistency. b – Equity Instruments Equity instruments are instruments that do not contain a contractual obligation to pay cash or any other financial asset and that evidence a residual interest in the issuer’s net assets. Such instruments are measured at fair value through profit and loss, except where Grupo Supervielle’s management has elected, at initial recognition, to irrevocably designate an equity investment at fair value through other comprehensive income. This option is available when instruments are not held for trading. The gains or losses of these instruments are recognized in other comprehensive income and are not subsequently reclassified to profit or loss, including on disposal. Dividends that result from such instrument will be charged to income when Grupo Supervielle’s right to receive payments is established. Derecognition of Financial Assets Grupo Supervielle derecognizes financial assets only when any of the following conditions are met: 1. The rights on the financial asset cash flows have expired; or 2. The financial asset is transferred pursuant to the requirements in 3.2.4 of IFRS 9. Grupo Supervielle derecognizes financial assets that have been transferred only when the following characteristics are met: 1. The contractual rights to receive the cashflows from the assets have expired or when they have been transferred and Grupo Supervielle transfers substantially all the risks and rewards of ownership. 2. The Entity retains the contractual rights to receive cash flows from assets but assumes a contractual obligation to pay those cash flows to other entities and transfers substantially all of the risks and rewards. These transactions result in derecognition if Grupo Supervielle: a. Has no obligation to make payments unless it collects amounts from the assets; b. Is prohibited from selling or pledging the financial assets; c. Has an obligation to remit any cash it collects from the assets without material delay. Write Off of Financial Assets Grupo Supervielle reduces the gross carrying amount of a financial asset when it has no reasonable expectations of recovering a financial asset in its entirety of a portion thereof. A write-off constitutes a derecognition event. Financial Liabilities Classification Grupo Supervielle classifies its financial liabilities as subsequently measured at amortized cost using the effective rate method, except for: ● Financial liabilities at fair value through profit or loss. ● Financial liabilities arising from the transfer of financial assets which did not qualify for derecognition. ● Financial guarantee contracts and loan commitments. ● Commitments to grant loans at rates below market rate Financial Liabilities measured at fair value through profit or loss ● Grupo Supervielle eliminates or substantially reduces an accounting mismatch in measurement or recognition inconsistency; or ● if financial assets and financial liabilities are managed and their performances assessed on a fair value basis according to an investment strategy or a documented risk management; or ● if a host contract contains one or more embedded derivatives and Grupo Supervielle has opted for designating the entire contract at fair value through profit or loss. Financial guarantee contract Financial guarantee contracts and loan commitments are initially measured at fair value and subsequently measured at the higher of the amount of the loss allowance and the unaccrued premium at year end. Derecognition of financial liabilities The Entity derecognizes financial liabilities when they are extinguished; this is, when the obligation specified in the contract is discharged, cancelled or expires. |
Derivatives | Derivatives are initially recognized at their fair value on the date on which the derivative contract is entered into and are subsequently remeasured at fair value. All derivative instruments are recognised as assets when their fair value is positive, and as liabilities when their fair value is negative. Any change in the fair value of derivative instruments is included in the income statement. Grupo Supervielle does not apply hedge accounting. |
Repo Transactions | Reverse Repo Transactions According to the derecognition principles set out in IFRS 9, these transactions are treated as secured loans since the risk has not been transferred to the counterparty. Loans granted in the form of reverse repo agreements are accounted for under "Reverse repo transactions ", classified by counterparty and also by the type of assets received as collateral. At the end of each month, accrued interest income is charged under "Reverse repo transactions " with its corresponding offsetting entry in "Interest Income." The assets received and sold by Grupo Supervielle are derecognized at the end of the repo transaction, and an in-kind liability is recorded to reflect the obligation to deliver the security disposed of. Repo Transactions Loans granted in the form of repo transactions are accounted for under "Repo Transactions", classified by counterparty and also by the type of asset pledged as collateral. In these transactions, when the recipient of the underlying asset becomes entitled to sell it or pledge it as collateral, it is reclassified to "Financial assets pledged as collateral". At the end of each month, these assets are measured according to the category they had before they were subject to the repo transaction, and results are charged against the applicable accounts, depending on the type of asset. At the end of each month, accrued interest expense is charged under "Repo Transactions" with its corresponding offsetting entry in "Interest-Expenses". |
Impairment of financial assets | Grupo Supervielle assesses on a forward-looking basis the expected credit losses (“ECL”) associated to its financial assets measured at amortized cost, debt instruments measured at fair value through other comprehensive income, loan commitments and financial guarantee contracts that are not measured at fair value. Grupo Supervielle measures ECL of financial instruments reflecting the following: (a) (b) (c) IFRS 9 outlines a “three stages” model for impairment based on changes in credit quality since initial recognition: • • • • • • The following diagram summarizes the impairment requirement under IFRS 9 (other than purchased or originated credit-impaired): Changes in the credit quality since initial recognition Stage 1 Stage 2 Stage 3 (initial recognition) (significant increase of credit risk since initial recognition) (credit-impaired assets) 12 month- ECL Lifetime ECL The following describes Grupo Supervielle´s key judgements and assumptions for ECL measurement: 1.11.2 Significant increase in credit risk Grupo Supervielle considers a financial instrument to have experienced a significant increase in credit risk when any of the following conditions exist: Personal and Business Banking ● Portfolios between 31 and 90 days past due ● Credit origination score has deteriorated by more than 30% with respect to the current behavioural score ● Internal Behavioral Score is less than cut off (1) (1) High Income Customers: Plan Sueldo segment (payrroll customers) >=400, Open Market Segment >=650 and Senior Citizens Segment>=600. Other customers: Plan Sueldo Segment (payrroll customers) >=500, Open Market Segment >=700 and Senior Citizens Segment >=600 Corporate Banking ● Portfolios between 31 and 90 days past due ● Maximum BCRA Situation equal to 2 . ● Have a behavioural score PD greater than 30% . ● Its credit rating deteriorated by more than two notes with respect to its credit approval rating. Consumer Finance: ● Portfolios between 31 and 90 days past due. Sectoral Analysis Considering that the internal impairment models are estimated using historical information, the risk of default of the corporate portfolio includes an additional sectoral analysis which is performed by grouping financial assets of the corporate portfolio by industry and analysing the risk associated to each industry in the current economic enviroment. Finally, the different industries that are part of the Grupo Supervielle's portfolio are classified into four types of risk. They are: ● Low risk ● Medium risk ● High risk ● Very high risk The risk rating matrix by industry is presented below, as of December 31, 2022 no high or very high risk industries have been identified: RISK RATING BY INDUSTRY Agriculture Low Utilities (Power generation) Medium Food and Drinks Low Utilities (Trans. And dist. of energy) Medium Financial Low Chemicals and plastics Medium Supermarkets Low Auto Parts/Dealers Medium Utilities (water and waste) Low Cargo transportation Medium Oil and mining Low Construction Medium Pharmaceutical Low Art.Home Medium IT/Communications Low Insurance Medium Cleaning Low Paper, cardboard, wood, glass Medium Oil Industry Low Dairy industry Medium Wine industry Low Private construction Medium Citrus Industry Low Iron and steel industry Medium Automotive terminals Low Machinery and equipment Medium SGR Low Professionals Medium Others Low Home Appliances (Product.) Medium Appliances (Commercial) Medium Health Medium Tourism and gastronomy Medium Passenger Transport Medium Refrigerators Medium Sugar Industry Medium RISK RATING BY INDUSTRY Public Construction Medium Textile Medium Real Etate Medium Sports Medium Entertaiment Medium In the case that high or very high risk industries are identified, the days past due associated to the financial assets included in the industry are exacerbated with a corresponding change in staging. 1.11.3 Individual and collective evaluation basis Expected credit losses are estimated both in a collective and individual basis. Grupo Supervielle´s individual estimation is aimed at calculating expected credit losses for significantly impaired loans. In these cases, the amount of credit losses is calculated as the difference between expected cash flows discounted at the instrument´s effective interest rate and the carrying value of the instrument. For expected credit loss provisions modelled on a collective basis, Grupo Supervielle has developed internal models. The grouping of exposures is performed on the basis of shared risk characteristics, such that risk exposures within group are homogeneous. In performing the grouping there must be sufficient information for the group to be statistically reliable . Grupo Supervielle has identified three groupings: Personal and Business, Corporate Banking and Consumer Finance, amongst these three segments Grupo Supervielle estimates parameters in a more granular way based on the shared risk characteristics. Credit risk features may consider the following factors, among others: Group Parameter Grouping Personal and Business Banking Probability of Default (PD) Personal loans (1) Credit card loans (1) Mortgage loans Refinancing Other financings Loss Given Default (LGD) Personal loans Credit card loans Overdrafts Mortgage loans Refinancing Other financings Corporate Banking Probability of Default (PD) (2) Small companies Medium companies Big companies Loss Given Default (LGD) Financial Area Secured loans Unsecured loans Consumer Finance Probability of Default Credit cards loans Refinancing Cash loans Cash consumptions and directed loans IUDU Automobile Loans Tarjeta Automatica Personal loans Loss Given Default Credit cards Personal loans Refinancing IUDU Automobile Loans (1) For credit cards and personal loans, Grupo Supervielle includes an additional layer of analysis: senior citizens, high income, open market, high income payroll, non- high income open market, non-high income payroll, Personal and Business Banking, former senior citizens and former payroll (2) Probability of default within Corporate Banking is calculated by grouping clients based on the client size for Stage 1 facilities. For Stage 2 and Stage 3, Probability of default is calculated including all segments of Corporate Banking due to the lack of materiality to form a larger group. The credit risk characteristics used to group the instruments are, among others: type of instrument, debtor's sector of activity, geographical area of activity, type of guarantee, aging of past due balances and any other factor relevant to estimating the future cash flows. Grouping of financial instruments is monitored and reviewed on a regular basis by the Credit Risk and Stress Test Area. 1.11.4 Definition of default and credit-impaired Grupo Supervielle defines a financial instrument as in default when such instrument meets one or more of the following criteria: Personal and Business Banking ● Financial instruments more than 90 days past due on its contractual payments. Corporate Banking ● Financial instruments more than 90 days past due. ● Financial instruments with B.C.R.A. situation greater than or equal to 3. ● C or D behavioural score. Consumer Finance ● Financial instruments more than 90 days past due. These criteria are applied in a consistent manner to all financial instruments and are aligned with the internal definition of default used for the administration of credit risk. Likewise, such definition is consistently applied to define PD ("Probability of Default"), Exposure at Default ("EAD") and Loss Given Default ( "LGD"). 1.11.5 Measurement of Expected Credit Loss – Explanation of inputs, assumptions and calculation techniques ECL is measured on a 12-month or lifetime basis, depending on whether a significant increase in credit risk has occurred since initial recognition or whether an asset is considered to be credit-impaired. ECL are the discounted product of the Probability of Default ("PD"), Exposure at default ("EAD") and Loss Given Default ("LGD"), defined as follows: ● The PD represents the likelihood of a borrower defaulting on its financial obligation (pursuant to the "Definition of default and credit impaired" set forth in Note 1.11.4), either over the next 12 months or over the remaining lifetime (lifetime PD) of the obligation. ● EAD is based on the amounts Grupo Supervielle expects to be owed at the time of default, over the next 12 months (12 months EAD) or over the remaining lifetime (lifetime EAD). For example, for a revolving commitment, Grupo Supervielle includes the current drawn balance plus any further amount that is expected to be drawn up to the current contractual limit by the time of default, should it occur. ● LGD represents Grupo Supervielle´s expectation of the extent of loss on a defaulted exposure. LGD varies by type of counterparty, seniority of claim, availability of collateral or other type of credit support. LGD is expressed as a percentage per unit of exposure at the time of default. LGD is calculated on a 12-month or lifetime basis, where 12 month LGD is the percentage of loss expected to be incurred if a default occurs in the next 12 months and lifetime LGD is the percentage of loss expected to be made if adefault occurs over the remaining expected life of the loan. ECL is determined by projecting PD, LGD and EAD for each future month and each individual exposure or collective segment. These three components are multiplied and adjusted for the likelihood of survival (that is, the exposure has not been prepaid or defaulted in an earlier month). This effectively calculates an ECL for each future month, which is then discounted back to the reporting date and add up. The discount rate used in the ECL calculation is the original effective interest rate or an approximation thereof. The Entity based its calculation of the ECL parameters on internal models that were adapted in order to be compliant with IFRS 9. Grupo Supervielle includes forward-looking information in its definition of PD, EAD and LGD. See Note 1.11.6 for the explanation of forward-looking information and its consideration in the calculation of ECL. 1.11.6 Forward-looking information considered in expected credit loss models The evaluation of significant increase in credit risk and the calculation of ECL includes forward-looking information. Grupo Supervielle has performed historical analysis and identified key economic variables that impact credit risk and expected credit losses for each portfolio. Forecasts of these economic variables ("base economic scenario") are provided by the Research team of Grupo Supervielle and provide the best estimate view of the economy over the next 12 months. The impact of these economic variables on PD and LGD has been determined by performing statistical regression analysis to understand the impact changes in these variables have had historically on default rates and LGD components. In addition to the base economic scenario, Grupo Supervielle's Research team also provides two possible scenarios together with scenario weightings. The number of other scenarios used is established based on the analysis of the main products to ensure that the effect of linearity between the future economic scenario and the associated expected credit losses is captured. The number of scenarios and their attributes are reassessed annually, unless a situation occurs in the macroeconomic environment that justifies a more frequent review. As of December 31, 2022 and 2021, as for its portfolios, Grupo Supervielle concluded that three scenarios have properly captured non-linearities. Scenario analysis are defined by means of a combination of statistic and expert judgement analysis, taking into account the range of potential results of which each scenario is representative. The assessment of significant increases in credit risk is performed using lifetime PD under each of the base and the other scenarios, multiplied by the associated scenario weighting, along with qualitative and backstop indicators (See Note 1.11.2). This determines if the financial instrument is in Stage 1, Stage 2 or Stage 3 and, hence, whether 12-month or Lifetime ECL should be recorded. As with any economic forecast, projections and probabilities of occurrence are subject to a high degree of inherent uncertainty, and therefore actual results may be significantly different than projected. Grupo Supervielle considers that these forecasts account for its best calculation of potential results and has analyzed the non-lineal and asymmetric impacts within the different portfolios of Grupo Supervielle to establish that chosen scenarios are representative of the range of possible scenarios. The most significant assumptions used to calculate ECL as of December 31, 2022 are as follows: Parameter Industry / Segment Macroeconomic Indicator Scenario 1 Scenario 2 Scenario 3 Open Market Exchange Rate 30.5 % 19.4 % 42.6 % Private Sector Wage 74 81 66 Income Payroll Exchange Rate 30.5 % 19.4 % 42.6 % Personal and Business Private Sector Wage (9.0) % 2.3 % (19.0) % Exchange Rate 30.5 % 19.4 % 42.6 % Probability of Default Senior Citizens Private Sector Wage 74.4 % 89.3 % 59.6 % Inflation Rate 91.0 % 79.3 % 103.4 % Corporate All Interest Rate 86.1 % 77.5 % 94.7 % Monthly Economic Activity Estimator 144 150 138 Private Sector Wage (9.0) % 2.3 % (19.0) % Quantity of Private Sector Employment 74 81 66 Consumer Finance Consumer Finance Loans 83 % 91 % 74 % Consumer Finance Automobile secured Monthly Economic Activity Estimator 144 150 138 Exchange Rate 30.5 % 91.0 % 74.0 % Supervielle Bank All Inflation Rate 91.0 % 79.3 % 103.4 % Loss Given Default Consumer Finance Inflation Rate 91.0 % 79.3 % 103.4 % Consumer Finance Interest Rate 86.1 % 77.5 % 94.7 % Consumer Finance Automobile secured Monthly Economic Activity Estimator 144.0 150.0 138.0 Inflation Rate 91.0 % 79.3 % 103.4 % The following are weightings assigned to each scenario as of December 31, 2022: Scenario 1 60 % Scenario 2 20 % Scenario 3 20 % Sensitivity analysis The chart below includes changes in ECL as of December 31, 2022 that would result from reasonably potential changes in the following parameters: December 31, 2022 Reported ECL Allowance 12,222,052 Gross carrying amount 247,813,250 Reported Loss rate 4.93 % ECL amount by scenarios Favorable scenario 11,814,479 Unfavorable scenario 12,984,448 Loss Rate by scenarios Favorable scenario 4.77 % Unfavorable scenario 5.24 % |
Leases | Group as lessor Operating leases Leases where the lessor retains a substantial portion of the risks and rewards of ownership are classified as operating leases. Payments made under operating leases (net of lease incentives) are recognized in profit or loss on a straight-line basis over the term of the lease. In addition, Grupo Supervielle recognizes the associated costs such as amortization and expenses. The historical cost includes expenditures that are directly attributable to the acquisition of these items and those expenses are charged to profit or loss during the lease term. The depreciation applied to the leased underlying assets is consistent with the one applied to similar assets’ group. In addition, Grupo Supervielle utilizes the criteria described in Note 1.18 to determine whether there is objective evidence that an impairment loss has occurred. Finance leases They have been recorded at the current value of the unearned amounts, calculated according to the conditions agreed in the respective contracts, based on the interest rate implicit in them. Initial measurement Grupo Supervielle uses the interest rate implicit in the lease to measure the net investment. This is defined in such a way that the initial direct costs are automatically included in the net investment of the lease. Initial direct costs, other than those incurred by manufacturers or concessionaires, are included in the initial measurement of the net investment of the lease and reduce the amount of income recognized over the term of the lease. The interest rate implicit in the lease is defined in such a way that initial direct costs are automatically included in the net investment in the lease; there is no need to add them separately. The difference between the gross amount receivable and the present value represents the finance income that is recognized over the term of the lease. Finance income from leases is recorded in profit or loss for the year. Impairment losses over the lease receivable are recognized in income for the year (see N See accounting policy related to those leases in which Grupo Supervielle acts as lessee in Note 7 to these consolidated financial statements. |
Property, plant and equipment | Property, plant and equipment is measured at historical cost less depreciation, except for land and buildings, where Grupo Supervielle adopted the revaluation model. The historical cost includes expenditure that is directly attributable to the acquisition or building of these items. All other property, plant and equipment were valued at acquisition or construction cost, net of accumulated depreciation and / or accumulated impairment losses, if any, except for real estate, for which Grupo Supervielle adopted the revaluation method. The cost includes the expenses that are directly attributable to the acquisition or construction of these items. Management updates the valuation of the fair value of land, buildings, facilities and machinery (classified as property, plant and equipment), taking into account independent valuations. Management determines the value of property, plant and equipment within a range of fair value estimates and considering the currency in which the market transactions are carried out. The revaluations are carried out with sufficient regularity, in order to ensure that the book value, at all times, does not differ significantly from the fair value of each asset subject to revaluation. The subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to Grupo Supervielle, and the cost of the item can be measured reliably. The carrying amount of an asset is derecognized when replaced. Repairs and maintenance expenses are charged to profit or loss when they are incurred. b) Depreciation methods used Depreciation is calculated using the straight-line method, applying annual rates sufficient to extinguish the values of assets at the end of their estimated useful lives. In those cases in which an asset includes significant components with different useful lives, such components are recognized and depreciated as separate items. The following chart presents the useful life for each item included in property, plant and equipment: Property, plant and equipment Estimated useful life Buildings 50 Years Furniture 10 Years Machines and equipment 5 Years Vehicles 5 Years Land Not depreciated Construction in progress Not depreciated The asset’s residual values and useful lives are reviewed and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amount. |
Investment properties | Investment properties are composed of buildings held for obtaining a rent or for capital appreciation or both, but is never occupied by Grupo Supervielle. Investment properties under the fair value approach, are measured at its fair value, and any gain or loss arising from a change in the fair value is recognized in profit or loss. Investment properties are never depreciated. The fair value is determined using sales comparison approach prepared by Grupo Supervielle's management considering a report of an independent valuation expert. The sale prices of comparable properties are adjusted considering the specific aspects of each property, the most relevant assumption being the price per square meter (Level 3). Investment properties under the cost approach reflect the amount that would be required to replace the service capacity of the asset. They were valued at acquisition or construction cost, net of accumulated depreciation and / or accumulated depreciation losses. The cost includes expenses that are directly attributable to the acquisition or construction of these items. Movements in investment properties for the year ended December 31, 2022 and 2021 were as follows: 12/31/2022 12/31/2021 Income derived from rents (rents charged) 73,402 33,795 Direct operating expenses of properties that generated income derived from rents (5,670) (14,262) Fair value remeasurement (803,858) (859,077) Total (736,126) (839,544) The net result generated by the investment property as of December 31, 2022 and 2021 amounts to a loss of 736,126 and an loss of 839,544 respectively, and is recognized under "Other operating income", "Administrative expenses" and "Other operating expenses". in the consolidated income statement. Gain and losses on disposals are determined by comparing proceeds with the carrying amount. |
Inventories | Inventories are valued at the lower of cost and net realizable value. Cost includes the acquisition costs (net of discounts, rebates and similar), as well as other costs that have been incurred to bring the inventories to their current location and conditions to be commercialized. The net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of sale. Grupo Supervielle evaluates the net realizable value of inventories at the end of each year, charging the corresponding value correction to results to the extent that the book value exceeds the net realizable value. When the circumstances that previously caused the value adjustment cease to exist, or when there is clear evidence of an increase in net value. |
Intangible Assets | (a) Goodwill Goodwill resulting from the acquisition of subsidiaries, associates or joint ventures account for the excess of: (i) the cost of an acquisition, which is measured as the sum of the consideration transferred, valued at fair value at the acquisition date plus the amount of non-controlling interest; and (ii) the fair value of the identifiable assets acquired and the liabilities assumed of the acquiree. Goodwill is included in the intangible assets item in the Consolidated statement of financial position. Goodwill is not subject to amortization, but it is annually tested for impairment. Impairment losses are not reverted once recorded. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Goodwill impairment is recognized when the carrying amount exceeds its recoverable amount which derives from the fair value of the cash-generating unit. The fair value of the reporting unit is estimated using discounted cash flows techniques. (b) Trademarks and licenses Trademarks and licenses acquired separately are initially valued at historical cost, while those acquired through a business combination are recognized at their estimated fair value at the acquisition date. Intangible assets with a finite useful life are subsequently carried at cost less accumulated depreciation and / impairment losses, if any. These assets are tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired. Trademarks acquired by Grupo Supervielle have been classified as intangible assets with an indefinite useful life. The main factors considered for this classification include the years in which they have been in service and their recognition among industry customers. Intangible assets with an indefinite useful life are those that arise from contracts or other legal rights that can be renewed without a significant cost and for which, based on an analysis of all the relevant factors, there is no foreseeable limit of the period over which the asset is expected to generate net cash flows for Grupo Supervielle. These intangible assets are not amortized, but are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired, either individually or at the level of the cash generating unit. The categorization of the indefinite useful life is reviewed annually to confirm if it is still applicable. Impairment losses are recognized when the book value exceeds its recoverable value. The recoverable value of the assets corresponds to the greater of the recoverable value of the asset or its value in use. For the purposes of the impairment test, assets are grouped at the lowest level at which they generate identifiable cash flows (cash generating units). The impairments of these non-financial assets - other than goodwill - are reviewed at each reporting date to verify possible reversals. (c) Software Costs related to software maintenance are recognized as an expense as incurred. Development, acquisition or implementation costs which are directly attributable to the design and testing of identifiable and unique software products controlled by Grupo Supervielle are recognized as intangible assets. The development, acquisition or implementation costs initially recognized as expenses for a period are not subsequently recognized as the cost of the intangible asset. The costs incurred in the development, acquisition or implementation of software, recognized as intangible assets, are amortized by applying the straight-line method over their estimated useful lives, in a term that does not exceed five years. |
Impairment of non-financial assets | Assets with an indefinite useful life are not subject to amortization but are tested annually for impairment or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or, at least, on an annual basis. Impairment losses are recognized when the carrying amount exceeds its recoverable amount. The recoverable amount of an asset is the higher of an asset’s fair value less costs of disposal and value in use. For purposes of assessing impairment, assets are grouped at the lowest level for which there are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or group of assets (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period. |
Trust Assets | Assets held by Grupo Supervielle in its Trustee role, are not included in the Consolidated Financial Statements. Commissions and fees earned from trust activities are included in Service fee income. |
Offsetting | Financial assets and liabilities are offset and the net amount reported in the consolidated financial statement where Grupo Supervielle has a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liability simultaneously. |
Financing received from the Argentine Central Bank and other Financial Institutions | The amounts owed to other financial institutions are recorded at the time the bank disburses the proceeds to Grupo Supervielle. Non-derivative financial liabilities are measured at amortized cost. In the event that Grupo Supervielle repurchases its own debt, it is eliminated from the consolidated financial statements and the difference between the residual value of the financial liability and the amount paid is recognized as a financial income or expense. |
Provisions / Contingencies | A provision will be recognized when: ● an entity has a present obligation (legal or implicit) as a result of past event; ● it is probable that an outflow of resources embodying future economic benefits will be required to settle the obligation; and ● the amount can be reliably estimated. An Entity will be deemed to have an implicit obligation where (a) Grupo Supervielle has assumed certain responsibilities as a consequence of past practices or public policies and (b) as a result, Grupo Supervielle has created an expectation that it will discharge those responsibilities Grupo Supervielle recognizes the following provisions: For labor, civil and commercial lawsuits: provisions are calculated based on lawyers’ reports about the status of the proceedings and the estimate about the potential losses to be afforded by Grupo Supervielle, as well as on the basis of past experience in this type of claims. For miscellaneous risks: These provisions are set up to address contingencies that may trigger obligations for Grupo Supervielle. In estimating the provision amounts, Grupo Supervielle evaluates the likelihood of occurrence taking into consideration the opinion of its legal and professional advisors. Other contingent liabilities are: i) possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of uncertain future events not wholly within the control of Grupo Supervielle; or ii) present obligations that arise from past events but it is not probable that an outflow of resources will be required to its settlement; or whose amount cannot be measured with sufficient reliability. Other contingent liabilities are not recognized. Contingent liabilities, whose possibility of any outflow in settlement is remote, are not disclosed unless they involve guarantees, in which case the nature of the guarantee is disclosed. Grupo Supervielle does not account for positive contingencies, other than those arising from deferred taxes and those contingencies whose occurrence is virtually certain. As of the date of these consolidated financial statements, Grupo Supervielle’s management believes there are no elements leading to determine the existence of contingencies that might be materialized and have a negative impact on these consolidated financial statements other than those disclosed in Note 16. |
Other non-financial liabilities | Non-financial liabilities are accrued when the counterparty has fulfilled its contractual obligations and are measured at amortized cost. |
Employee benefits | Grupo Supervielle, make provisions related to early retirement plans. The liability related to these plans and benefits is not expected to be settled in the next 12 months. Therefore, they are measured at the present value of the future cash flows that are expected to be realized with respect to the services provided by the employees until the end of the year using the credit unit method. The level of salaries, experience and separations as well as the years of service are taken into account. Expected future payments are discounted using the market rate at the end of the year corresponding to sovereign bonds with terms and currency that coincide with the expected flows. Remeasurements as a result of experience and changes in actuarial premises are recognized in results. Provisions for short-term benefits are measured at the present value of the disbursements that are expected to be required to settle the obligation using a pre-tax interest rate that reflects current market conditions on the value of money and the specific risks for said obligation. The increase in the provision for the passage of time is recognized in the net financial results caption of the consolidated income statement. Termination benefits are payable when employment is terminated by Grupo Supervielle before the normal retirement date, or when an employee accepts voluntary redundancy in exchange for these benefits. Grupo Supervielle recognises termination benefits at the earlier of the following dates: (a) when Grupo Supervielle can no longer withdraw the offer of those benefits; and (b) when the entity recognises costs for a restructuring that is within the scope of IAS 37 and involves the payment of terminations benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than 12 months after the end of the reporting period are discounted to present value. Non-financial liabilities are accrued when the counterparty has complied with its obligations under the contract and are valued at amortized cost. |
Debt Securities | Subordinated and unsubordinated Debt Securities issued by Grupo Supervielle are measured at amortized cost. Where Grupo Supervielle buys back its own debt, such obligations will be derecognized from the Consolidated Financial Statements and the difference between the residual value of the financial liability and the amount paid will be recognized as financial income or expenses. The detail of the programs is described in Note 23. |
Assets and liabilities derived from insurance contracts | Grupo Supervielle applies IFRS 4 “Insurance Contracts” in order to recognize and measure the assets and liabilities derived from insurance contracts. Assets derived from insurance contracts An insurance contract is a contract under which Grupo Supervielle (the insurer) accepts significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event) adversely affects the policyholder. Once a contract has been classified as an insurance contract, it remains an insurance contract for the rest of its term, even if the insurance risk is significantly reduced during this period, unless all rights and obligations are extinguished or expired. The insurance contracts offered by Grupo Supervielle include property insurance that covers combined family insurance, theft and similar risks, property damage, personal accidents, among other risks. They also include temporary life insurance contracts. Total premiums are recognized on the date of issuance of the policy as an account receivable. At the same time, a reserve for unearned premiums representing premiums for risks that have not yet expired is recorded as a liability. Unearned premiums are recognized as income during the contract period, which is also the coverage and risk period. The book value of insurance accounts receivable is reviewed for impairment whenever events or circumstances indicate that the book value may not be recoverable. The impairment loss is recorded in the income statement. Liabilities derived from insurance contracts Debt with insured The insurance claims reserves represent debts with insured people for claims reported to the company and an estimate of the claims that have already been incurred but that have not yet been reported to the company (IBNR). The reported claims are adjusted on the basis of technical reports received from independent appraisers. Debts with reinsurers and co-insurers Grupo Supervielle mitigates the risk for some of its insurance businesses through co-insurance or reinsurance contracts in other companies. In the case of co-insurance, Grupo Supervielle associates with another company to cover a risk assuming only a percentage of it and also the premium. In reinsurance, the risk is transferred to another insurance company both proportionally (as a percentage of the risk) and not proportionally (excess loss is covered above a certain limit). The reinsurance agreements assigned do not exempt Grupo Supervielle from its obligations to the insured. Coinsurance and reinsurance liabilities represent balances owed under the same conditions and the amounts payable are estimated in a manner consistent with the contract that gave rise to them. Debts with producers They represent liabilities with insurance agents originated in the commissions for the insurance operations that they originate for Grupo Supervielle companies. The balances of the current accounts with these entities are also included. Technical commitments The current risk reserve regularizes the premiums to be collected based on the incurred but not reported risks. |
Capital Stock and Capital Adjustments | Accounts included in this item are expressed in terms of the measuring unit current as of December 31, 2022 as described in Note 1.1.2, except from the item “Capital Stock”, which has been held at nominal value. Common shares are recognized in shareholders´ equity and carried at nominal value. As indicated in note 32 to the consolidated financial statements, the Company's Board of Directors approved the repurchase of securities issued by the Company and established the terms and conditions for the acquisition of treasury shares issued by the Company. The cost of treasury shares is disclosed as part of the Capital within the Statement of Changes in Net Equity, after the Share capital stock, Inflation adjustment of capital stock and Paid in Capital. |
Reserves and Dividend distribution | Pursuant to provisions set by the Argentine Corporations law, Grupo Supervielle and its subsidiaries, other than Banco Supervielle and Cordial Compañía Financiera, are required to appropriate 5% of the net income for the fiscal year to the legal reserve until such reserve is equal to 20% of Capital stock, plus the balance of the Capital Adjustment account. As concerns Banco Supervielle and IUDU Compañía Financiera, according to the regulations set forth by the Argentine Central Bank, 20% of net income for the fiscal year, net of previous years’ adjustments, if any, is required to be appropriated to the legal reserve. Notwithstanding the aforementioned, in appropriating amounts to other reserves, Financial Institutions are required to comply with the provisions laid down by the Argentine Central Bank in the revised text on distribution of dividends described in Note 24. Given the repurchase of treasury shares carried out by Grupo Supervielle, described in Note 32, due to local regulations Grupo Supervielle has a restriction on the distribution of results and/or reversal of free reserves of $1,383,270 (figure expressed in thousands of $) equivalent to the cost of acquisition of own shares. The distribution of dividends to Grupo Supervielle’s shareholders is recognized as a liability in the consolidated financial statements for the fiscal year in which dividends are approved by Grupo Supervielle’s Shareholders. |
Revenue Recognition | Financial income and expense is recognized in respect of all debt instruments in accordance with the effective interest rate method, pursuant to which all gains and losses which are an integral part of the transaction effective interest rate are deferred. The results that are included within the effective interest rate include expenditures or income related to the creation or acquisition of a financial asset or liability, such as compensation received for the analysis of the client's financial condition, negotiation of the terms of the instrument, the preparation and processing of the documents necessary to conclude the transaction and the compensations received for the granting of credit agreements that are expected to be used by the client. Grupo Supervielle records all its non-derivative financial liabilities at amortized cost, except those included in the caption "Liabilities at fair value through profit or loss", which are measured at fair value. It should be noted that the commissions that Grupo Supervielle receives for the origination of syndicated loans are not part of the effective interest rate of the product, being these recognized in the Income Statement at the time the service is provided, as long as Grupo Supervielle does not withhold part of it or this is kept in the same conditions as the rest of the participants. The commissions received by Grupo Supervielle for the negotiations in the transactions of a third party are not part of the effective interest rate either, these being recognized at the time the services are provided. IFRS 15 establishes the principles that an entity must apply to account for income and cash flows from contracts for the sale of goods or services to its customers. The amount to be recognized will be that which reflects the payment to which it is expected to be entitled for the services rendered. Grupo Supervielle's income from services is recognized in the income statement as performance obligations are fulfilled, part of the consideration received is allocated to the customer loyalty programs described below. Consideration is allocated based on the relative standalone selling prices for services rendered and points granted. Below is a summary of the main commissions earned by the Group Supervielle: Commission Frecuency of revenue recognition Account maintenance Monthly Safe deposit boxes Semi-annual Issuing Bank Event driven Credit Card renewal Annual Check management Event driven Income from investment property rentals is recognized in the consolidated statement of comprehensive income based on the straight-line method over the term of the lease, in accordance with the provisions of note 1.14. |
Income tax | Income tax expense for the year includes current and deferred tax. Income tax is recognized in the consolidated income statements, except for items required to be recognized directly in other comprehensive income. In this case, the income tax liability related to such items is also recognized in such statement. Current income tax expense is calculated on the basis of the tax laws enacted or substantially enacted as of the date of the Statement of Financial Position in the countries where the Company and its subsidiaries operate and generate taxable income. Grupo Supervielle periodically assesses the position assumed in tax returns in connection with circumstances in which the tax regulation is subject to interpretation. Grupo Supervielle sets up provisions in respect of the amounts expected to be required to pay to the tax authorities. Deferred income tax is recognized, using the deferred tax liability method, on temporary differences arising from the carrying amount of assets and liabilities and their tax base. However, the deferred tax arising from the initial recognition of an asset or liability in a transaction other than a business combination which, at the time of the transaction does not affect income or loss for accounting or tax purposes, is not recorded. Deferred income tax is determined using tax rates (and laws) enacted as of the date of the consolidated financial statements and that are expected to be applicable when the deferred tax assets are realized or the deferred tax liabilities are settled. Deferred income tax assets are recognized only to the extent future tax benefits are likely to arise against which the temporary differences can be offset. Grupo Supervielle recognizes a deferred tax liability for taxable temporary differences related to investments in subsidiaries and affiliates, except that the following two conditions are met: ● Grupo Supervielle controls the timing on which temporary differences will be reversed; and ● such temporary differences are not likely to be reversed in the foreseeable future. Deferred income tax assets and liabilities are offset when a legal right exists to offset current tax assets against current tax liabilities and to the extent such balances are related to the same tax authority of Grupo Supervielle or its subsidiaries, where tax balances are intended to be, and may be, settled on a net basis. |
Earnings per share | Basic earnings per share are calculated by dividing net income attributable to Grupo Supervielle’s shareholders by the weighted average number of common shares outstanding during the year. Diluted earnings per share are calculated by dividing the net income for the year by the weighted average number of common shares issued and dilutive potential common shares at year end. Since the Company has no dilutive potential common shares outstanding, there are no dilutive earnings per share amounts . |
ACCOUNTING STANDARDS AND BASI_3
ACCOUNTING STANDARDS AND BASIS OF PREPARATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
Summary of Effects of Variation in Prices of Price Index | As of December 31, Variation in Prices 2020 2021 2022 Annual 36.1 % 50.9 % 94.8 % Accumulated 3 years 209.2 % 216.1 % 300.3 % |
Summary of Subsidiaries Included in Consolidation Process | The following chart details the subsidiaries included in the consolidation process: Percentage of direct or indirect investment in capital stock Company Main Activity 12/31/2022 12/31/2021 12/31/2020 Banco Supervielle S.A. Commercial Bank 99.90 % (1) 99.90 % (1) 99.90 % (1) IUDÚ Compañia Financiera S.A Financial Company 99.90 % 99.90 % 99.90 % Tarjeta Automática S.A. Credit Card 99.91 % 99.99 % 99.99 % Supervielle Asset Asset Management 100.00 % 100.00 % 100.00 % Sofital S.A.F. e I.I. Real State 100.00 % 100.00 % 100.00 % Espacio Cordial de Servicios S.A. Retail Services 100.00 % 100.00 % 100.00 % Supervielle Seguros S.A. Insurance 100.00 % 100.00 % 100.00 % Micro Lending S.A.U. Financial Company 100.00 % 100.00 % 100.00 % InvertirOnline S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Portal Integral de Inversiones S.A.U. Representations 100.00 % 100.00 % 100.00 % IOL Holding S.A. Financial Company 100.00 % 100.00 % — % Agente de Valores S.A. Financial Company 100.00 % 100.00 % — % Supervielle Productores Asesores de Seguros S.A. Insurance Broker 100.00 % 100.00 % 100.00 % Bolsillo Digital S.A.U. Fintech 100.00 % 100.00 % 100.00 % Supervielle Agente de Negociación S.A.U. Financial Broker 100.00 % 100.00 % 100.00 % Dólar IOL S.A.U. Financial Company 100.00 % 100.00 % 100.00 % (1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.87% , as of 12/31/2022, 12/31/2021 and 12/31/2020 respectively. |
Summary of Cash and Cash Equivalents Include Cash and Highly Liquid Short-term Securities Maturities | Item 12/31/2022 12/31/2021 12/31/2020 Cash and due from banks 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss 5,610,509 20,265,790 5,494,141 Money Market Funds 390,860 3,410,049 2,713,997 Cash and cash equivalents 54,400,837 87,128,000 116,041,061 |
Summary of Reconciliation Between Balances on Statement of Financial Position and Statement of Cash Flow | Items 12/31/2022 12/31/2021 12/31/2020 Cash and due from Banks As per Statement of Financial Position 48,399,468 63,452,161 107,832,923 As per the Statement of Cash Flow 48,399,468 63,452,161 107,832,923 Debt securities at fair value through profit or loss As per Statement of Financial Position 22,384,677 38,486,623 29,025,766 Securities not considered a cash equivalents (16,774,168) (18,220,833) (23,531,625) As per the Statement of Cash Flow 5,610,509 20,265,790 5,494,141 Money Market Funds As per Statement of Financial Position – Other financial assets 8,107,119 27,120,979 12,599,580 Other financial assets not considered a cash equivalents (7,716,259) (23,710,930) (9,885,583) As per the Statement of Cash Flow 390,860 3,410,049 2,713,997 |
Summary of reconciliation of financing activities | Reconciliation of liabilities from financing activities at December 31, 2022, 2021 and 2020 is as follows: Cash Flows Other non-cash Items 12/31/2021 Inflows Outflows movements 12/31/2022 Unsubordinated debt securities 2,063,327 — (1,501,918) — 561,409 Financing received from the Argentine Central Bank and other financial institutions 12,179,537 167,932,069 (174,581,930) — 5,529,676 Lease Liabilities 2,645,808 — (2,545,549) 1,468,203 1,568,462 Total 16,888,672 167,932,069 (178,629,397) 1,468,203 7,659,547 Cash Flows Other non-cash Items 12/31/2020 Inflows Outflows movements 12/31/2021 Unsubordinated debt securities 12,427,653 4,386,933 (14,751,259) — 2,063,327 Subordinated debt securities 3,353,254 — (3,353,254) — — Financing received from the Argentine Central Bank and other financial institutions 17,207,143 63,017,533 (68,045,139) — 12,179,537 Lease Liabilities 3,474,475 — (4,727,463) 3,898,796 2,645,808 Total 36,462,525 67,404,466 (90,877,115) 3,898,796 16,888,672 Cash Flows Other non-cash Items 12/31/2019 Inflows Outflows movements 12/31/2020 Unsubordinated debt securities 24,363,308 7,802,825 (19,951,590) 213,110 12,427,653 Subordinated debt securities 8,485,616 — (5,216,762) 84,400 3,353,254 Financing received from the Argentine Central Bank and other financial institutions 36,096,182 43,731,367 (62,620,406) — 17,207,143 Lease Liabilities 3,788,265 — (4,016,850) 3,703,060 3,474,475 Total 72,733,371 51,534,192 (91,805,608) 4,000,570 36,462,525 |
Summary of impairment requirements on financial assets | Changes in the credit quality since initial recognition Stage 1 Stage 2 Stage 3 (initial recognition) (significant increase of credit risk since initial recognition) (credit-impaired assets) 12 month- ECL Lifetime ECL |
Summary of risk rating matrix by industry | RISK RATING BY INDUSTRY Agriculture Low Utilities (Power generation) Medium Food and Drinks Low Utilities (Trans. And dist. of energy) Medium Financial Low Chemicals and plastics Medium Supermarkets Low Auto Parts/Dealers Medium Utilities (water and waste) Low Cargo transportation Medium Oil and mining Low Construction Medium Pharmaceutical Low Art.Home Medium IT/Communications Low Insurance Medium Cleaning Low Paper, cardboard, wood, glass Medium Oil Industry Low Dairy industry Medium Wine industry Low Private construction Medium Citrus Industry Low Iron and steel industry Medium Automotive terminals Low Machinery and equipment Medium SGR Low Professionals Medium Others Low Home Appliances (Product.) Medium Appliances (Commercial) Medium Health Medium Tourism and gastronomy Medium Passenger Transport Medium Refrigerators Medium Sugar Industry Medium RISK RATING BY INDUSTRY Public Construction Medium Textile Medium Real Etate Medium Sports Medium Entertaiment Medium |
Summary of groupings by shared risk characteristics | Group Parameter Grouping Personal and Business Banking Probability of Default (PD) Personal loans (1) Credit card loans (1) Mortgage loans Refinancing Other financings Loss Given Default (LGD) Personal loans Credit card loans Overdrafts Mortgage loans Refinancing Other financings Corporate Banking Probability of Default (PD) (2) Small companies Medium companies Big companies Loss Given Default (LGD) Financial Area Secured loans Unsecured loans Consumer Finance Probability of Default Credit cards loans Refinancing Cash loans Cash consumptions and directed loans IUDU Automobile Loans Tarjeta Automatica Personal loans Loss Given Default Credit cards Personal loans Refinancing IUDU Automobile Loans (1) For credit cards and personal loans, Grupo Supervielle includes an additional layer of analysis: senior citizens, high income, open market, high income payroll, non- high income open market, non-high income payroll, Personal and Business Banking, former senior citizens and former payroll (2) Probability of default within Corporate Banking is calculated by grouping clients based on the client size for Stage 1 facilities. For Stage 2 and Stage 3, Probability of default is calculated including all segments of Corporate Banking due to the lack of materiality to form a larger group. |
Summary of Projected Evolution for Next Year of Main Macroeconomic Indicators | Parameter Industry / Segment Macroeconomic Indicator Scenario 1 Scenario 2 Scenario 3 Open Market Exchange Rate 30.5 % 19.4 % 42.6 % Private Sector Wage 74 81 66 Income Payroll Exchange Rate 30.5 % 19.4 % 42.6 % Personal and Business Private Sector Wage (9.0) % 2.3 % (19.0) % Exchange Rate 30.5 % 19.4 % 42.6 % Probability of Default Senior Citizens Private Sector Wage 74.4 % 89.3 % 59.6 % Inflation Rate 91.0 % 79.3 % 103.4 % Corporate All Interest Rate 86.1 % 77.5 % 94.7 % Monthly Economic Activity Estimator 144 150 138 Private Sector Wage (9.0) % 2.3 % (19.0) % Quantity of Private Sector Employment 74 81 66 Consumer Finance Consumer Finance Loans 83 % 91 % 74 % Consumer Finance Automobile secured Monthly Economic Activity Estimator 144 150 138 Exchange Rate 30.5 % 91.0 % 74.0 % Supervielle Bank All Inflation Rate 91.0 % 79.3 % 103.4 % Loss Given Default Consumer Finance Inflation Rate 91.0 % 79.3 % 103.4 % Consumer Finance Interest Rate 86.1 % 77.5 % 94.7 % Consumer Finance Automobile secured Monthly Economic Activity Estimator 144.0 150.0 138.0 Inflation Rate 91.0 % 79.3 % 103.4 % |
Summary of Scenario Probabilities | Scenario 1 60 % Scenario 2 20 % Scenario 3 20 % |
Summary of ECL Allowance Sensitivity to Future Macro economic Conditions | December 31, 2022 Reported ECL Allowance 12,222,052 Gross carrying amount 247,813,250 Reported Loss rate 4.93 % ECL amount by scenarios Favorable scenario 11,814,479 Unfavorable scenario 12,984,448 Loss Rate by scenarios Favorable scenario 4.77 % Unfavorable scenario 5.24 % |
Summary of Useful Life of Property, Plant and Equipment | Property, plant and equipment Estimated useful life Buildings 50 Years Furniture 10 Years Machines and equipment 5 Years Vehicles 5 Years Land Not depreciated Construction in progress Not depreciated |
Summary of movement in investment properties | 12/31/2022 12/31/2021 Income derived from rents (rents charged) 73,402 33,795 Direct operating expenses of properties that generated income derived from rents (5,670) (14,262) Fair value remeasurement (803,858) (859,077) Total (736,126) (839,544) |
Summary of the main commissions earned | Commission Frecuency of revenue recognition Account maintenance Monthly Safe deposit boxes Semi-annual Issuing Bank Event driven Credit Card renewal Annual Check management Event driven |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
SEGMENT REPORTING | |
Summary of segment information | Personal and Asset Business Corporate Bank Consumer Management and Total as of Asset by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Cash and due from banks 18,640,425 764,338 28,448,336 220,055 2,026 373,036 (48,748) 48,399,468 Debt securities at fair value through profit or loss 72,941 1,617,976 19,876,879 788,425 — 28,456 — 22,384,677 Loans and other financing 143,638,954 82,383,817 8,442,170 623,026 1,760,652 183,291 (1,440,712) 235,591,198 Other Assets 15,972,688 5,171,074 337,729,730 13,734,555 3,307,334 2,308,776 12,267,797 390,491,954 Total Assets 178,325,008 89,937,205 394,497,115 15,366,061 5,070,012 2,893,559 10,778,337 696,867,297 Personal and Asset Businesses Corporate Bank Consumer Management and Total as of Liabilities by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Deposits 245,102,232 63,585,543 235,204,847 3,974,142 — 69,842 (419,671) 547,516,935 Financing received from the Argentine Central Bank and others 35,406 88 5,494,188 607,575 — 124,706 (732,287) 5,529,676 Unsubordinated Debt Securities 12,874 4,373 544,162 — — — — 561,409 Other liabilities 18,799,427 3,879,023 5,374,177 1,394,727 2,125,228 1,035,730 18,304,932 50,913,244 Total Liabilities 263,949,939 67,469,027 246,617,374 5,976,444 2,125,228 1,230,278 17,152,974 604,521,264 Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2022 Interests income 68,595,988 35,920,437 139,048,123 11,576,426 4,659 28,549 (3,300,356) 251,873,826 Interest Expense (50,693,775) (10,624,629) (100,741,944) (8,055,352) — — 4,609,359 (165,506,341) Distribution of results by the Treasury 16,496,028 (10,976,718) (5,519,310) — — — — — Net interest income 34,398,241 14,319,090 32,786,869 3,521,074 4,659 28,549 1,309,003 86,367,485 Net income from financial instruments at fair value through profit or loss — — 13,918,206 1,061,264 1,430,703 1,291,700 544,846 18,246,719 Result from derecognition of assets measured at amortized cost — — 497,884 — — — (6,047) 491,837 Exchange rate differences on gold and foreign currency 632,202 146,828 1,481,454 (33,944) 20 91,281 425,118 2,742,959 NIFFI And Exchange Rate Differences 632,202 146,828 15,897,544 1,027,320 1,430,723 1,382,981 963,917 21,481,515 Net Financial Income 35,030,443 14,465,918 48,684,413 4,548,394 1,435,382 1,411,530 2,272,920 107,849,000 Services Fee Income 20,028,687 2,213,741 174,848 4,127,207 — 4,107,451 (312,866) 30,339,068 Services Fee Expenses (7,491,247) (600,059) (345,765) (2,734,783) — (192,404) 641,103 (10,723,155) Income from insurance activities — — — — 4,034,853 — 491,519 4,526,372 Net Service Fee Income 12,537,440 1,613,682 (170,917) 1,392,424 4,034,853 3,915,047 819,756 24,142,285 Subtotal 47,567,883 16,079,600 48,513,496 5,940,818 5,470,235 5,326,577 3,092,676 131,991,285 Result from exposure to changes in the purchasing power of money 12,477,842 (5,988,253) (19,419,563) 771,200 (1,931,871) (1,083,665) (2,574,753) (17,749,063) Other operating income 3,843,533 3,531,800 1,464,910 2,645,420 24,084 277,354 (1,295,684) 10,491,417 Loan loss provisions (9,801,914) (495,474) (417,613) (3,432,836) (11,988) (1,414) (9,777) (14,171,016) Net operating income 54,087,344 13,127,673 30,141,230 5,924,602 3,550,460 4,518,852 (787,538) 110,562,623 Personnel expenses (36,872,521) (5,481,914) (2,846,491) (5,302,630) (1,156,099) (2,185,140) (47,751) (53,892,546) Administrative expenses (20,593,305) (1,768,577) (1,370,603) (3,447,004) (811,520) (926,849) 355,037 (28,562,821) Depreciations and impairment of non-financial assets (7,512,248) (1,021,736) (448,352) (1,253,319) (108,499) (70,452) 316,009 (10,098,597) Other operating expenses (11,041,216) (3,340,741) (8,467,679) (3,383,143) (467) (405,623) 9,779 (26,629,090) Operating income (21,931,946) 1,514,705 17,008,105 (7,461,494) 1,473,875 930,788 (154,464) (8,620,431) Income from associates and joint ventures — — — (10,673) — — 10,673 — Result before taxes (21,931,946) 1,514,705 17,008,105 (7,472,167) 1,473,875 930,788 (143,791) (8,620,431) Income tax 7,579,721 (98,749) (6,282,238) 3,290,139 (614,072) (449,040) 160,253 3,586,014 Net (loss) / income (14,352,225) 1,415,956 10,725,867 (4,182,028) 859,803 481,748 16,462 (5,034,417) Net (loss) / income for the year attributable to owners of the parent company (14,352,225) 1,415,956 10,725,867 (4,182,028) 859,803 481,748 21,924 (5,028,955) Net (loss) / income for the year attributable to non-controlling interest — — — — — — (5,462) (5,462) Other comprehensive (loss)/income (137,100) (48,338) (1,013,981) — 16,184 61,052 (38,994) (1,161,177) Other comprehensive (loss) / income attributable to owners of the parent company (137,100) (48,338) (1,013,981) — 16,184 61,052 (37,766) (1,159,949) Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — (1,228) (1,228) Comprehensive (loss) / income for the year (14,489,325) 1,367,618 9,711,886 (4,182,028) 875,987 542,800 (22,532) (6,195,594) Comprehensive (loss) / income attributable to owners of the parent company (14,489,325) 1,367,618 9,711,886 (4,182,028) 875,987 542,800 (15,842) (6,188,904) Comprehensive (loss) / income attributable to non-controlling interest — — — — — — (6,690) (6,690) Personal and Asset Business Corporate Bank Consumer Management and Total as of Asset by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Cash and due from banks 23,591,677 1,075,554 36,471,307 1,426,096 8,221 510,409 368,897 63,452,161 Debt securities at fair value through profit or loss — — 36,896,690 1,585,480 — 4,453 — 38,486,623 Loans and other financing 148,658,868 121,086,352 20,186,470 21,821,056 1,683,684 198,082 (10,781,119) 302,853,393 Other Assets 12,875,007 6,715,094 272,683,855 10,012,771 4,538,529 2,842,845 46,018,231 355,686,332 Total Assets 185,125,552 128,877,000 366,238,322 34,845,403 6,230,434 3,555,789 35,606,009 760,478,509 Personal and Asset Businesses Corporate Bank Consumer Management and Total as of Liabilities by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Deposits 270,137,000 60,528,871 219,175,414 13,096,133 — 147,603 (1,188,314) 561,896,707 Financing received from the Argentine Central Bank and others 29,895 — 11,417,648 10,334,832 — — (9,602,838) 12,179,537 Unsubordinated Debt Securities 26,287 16,289 2,020,750 — — — 1 2,063,327 Other liabilities 27,698,342 8,389,824 20,723,982 7,196,198 3,101,869 1,393,130 15,418,895 83,922,240 Total Liabilities 297,891,524 68,934,984 253,337,794 30,627,163 3,101,869 1,540,733 4,627,744 660,061,811 Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2021 Interests income 59,843,799 37,890,661 91,405,063 15,443,759 2,770 14,985 (3,122,784) 201,478,253 Interest Expense (31,627,176) (5,920,482) (75,986,668) (7,468,616) — — 3,154,025 (117,848,917) Distribution of results by the Treasury 10,001,101 (17,873,258) 7,872,157 — — — — — Net interest income 38,217,724 14,096,921 23,290,552 7,975,143 2,770 14,985 31,241 83,629,336 Net income from financial instruments at fair value through profit or loss — — 14,369,613 713,660 1,119,260 831,953 281,596 17,316,082 Result from derecognition of assets measured at amortized cost — — 541,174 — — — (46,035) 495,139 Exchange rate differences on gold and foreign currency 616,744 168,636 782,484 27,957 1,270 158,622 177,381 1,933,094 NIFFI And Exchange Rate Differences 616,744 168,636 15,693,271 741,617 1,120,530 990,575 412,942 19,744,315 Net Financial Income 38,834,468 14,265,557 38,983,823 8,716,760 1,123,300 1,005,560 444,183 103,373,651 Services Fee Income 20,509,780 2,022,791 120,104 5,255,006 — 5,225,610 (670,493) 32,462,798 Services Fee Expenses (6,710,658) (662,829) (331,413) (2,233,900) — (269,870) 312,239 (9,896,431) Income from insurance activities — — — — 3,848,954 — 575,278 4,424,232 Net Service Fee Income 13,799,122 1,359,962 (211,309) 3,021,106 3,848,954 4,955,740 217,024 26,990,599 Subtotal 52,633,590 15,625,519 38,772,514 11,737,866 4,972,254 5,961,300 661,207 130,364,250 Result from exposure to changes in the purchasing power of money 5,798,882 (3,614,993) (12,530,796) (1,362,331) (1,394,082) (881,379) (1,224,273) (15,208,972) Other operating income 2,543,257 2,649,074 4,035,567 1,510,787 29,252 158,088 (452,241) 10,473,784 Loan loss provisions (8,080,660) (1,608,512) (61,599) (7,644,106) — — — (17,394,877) Net operating income 52,895,069 13,051,088 30,215,686 4,242,216 3,607,424 5,238,009 (1,015,307) 108,234,185 Personnel expenses (35,503,440) (3,736,681) (2,147,250) (5,104,614) (1,102,816) (2,184,424) (70,926) (49,850,151) Administrative expenses (21,573,090) (1,561,632) (1,521,346) (3,426,780) (958,441) (1,249,978) 379,646 (29,911,621) Depreciations and impairment of non-financial assets (6,446,388) (612,169) (410,667) (398,446) (92,870) (87,129) (182,620) (8,230,289) Other operating expenses (10,177,556) (4,193,085) (6,107,245) (2,089,710) (31,796) (401,740) (78,053) (23,079,185) Operating income (20,805,405) 2,947,521 20,029,178 (6,777,334) 1,421,501 1,314,738 (967,260) (2,837,061) Income from associates and joint ventures — — — 10,544 — — (10,544) — Result before taxes (20,805,405) 2,947,521 20,029,178 (6,766,790) 1,421,501 1,314,738 (977,804) (2,837,061) Income tax 7,248,314 (989,201) (6,488,444) 657,020 (369,795) (480,309) (122,826) (545,241) Net (loss) / income (13,557,091) 1,958,320 13,540,734 (6,109,770) 1,051,706 834,429 (1,100,630) (3,382,302) Net (loss) / income for the year attributable to owners of the parent company (13,557,091) 1,958,320 13,540,734 (6,109,770) 1,051,706 834,429 (1,097,091) (3,378,763) Net (loss) / income for the year attributable to non-controlling interest — — — — — — (3,539) (3,539) Other comprehensive (loss)/income (45,245) (28,031) (56,433) — (2,279) 789 26,540 (104,659) Other comprehensive (loss) / income attributable to owners of the parent company (45,245) (28,031) (56,433) — (2,279) 789 26,674 (104,525) Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — (134) (134) Comprehensive (loss)/income for the year (13,602,336) 1,930,289 13,484,301 (6,109,770) 1,049,427 835,218 (1,074,090) (3,486,961) Comprehensive (loss) / income attributable to owners of the parent company (13,602,336) 1,930,289 13,484,301 (6,109,770) 1,049,427 835,218 (1,070,417) (3,483,288) Comprehensive (loss) / income attributable to non-controlling interest — — — — — — (3,673) (3,673) Personal and Asset For the year Business Corporate Bank Consumer Management and ended Result by segments Banking Banking Treasury Finance Insurance Other Services Adjustments 12.31.2020 Interests income 64,781,126 38,167,889 75,243,701 13,034,272 — 124,683 (1,118,488) 190,233,183 Interest Expense (24,056,798) (3,156,957) (54,086,014) (4,020,358) — (78,172) 1,370,976 (84,027,323) Distribution of results by the Treasury 10,025,101 (18,788,017) 8,762,916 — — — — — Net interest income 50,749,429 16,222,915 29,920,603 9,013,914 — 46,511 252,488 106,205,860 Net income from financial instruments at fair value through profit or loss — — 6,806,796 421,821 1,039,413 478,422 1,002,156 9,748,608 Result from derecognition of assets measured at amortized cost — — 2,025,216 — — — (93,423) 1,931,793 Exchange rate differences on gold and foreign currency 1,115,162 154,672 1,244,489 111,055 (288) 215,104 289,825 3,130,019 NIFFI And Exchange Rate Differences 1,115,162 154,672 10,076,501 532,876 1,039,125 693,526 1,198,558 14,810,420 Net Financial Income 51,864,591 16,377,587 39,997,104 9,546,790 1,039,125 740,037 1,451,046 121,016,280 Services Fee Income 21,947,149 1,976,670 175,339 6,272,126 — 4,658,234 (1,234,915) 33,794,603 Services Fee Expenses (7,213,591) (565,596) (175,705) (2,241,384) — (149,229) (87,257) (10,432,762) Income from insurance activities — — — — 4,275,708 — 638,770 4,914,478 Net Service Fee Income 14,733,558 1,411,074 (366) 4,030,742 4,275,708 4,509,005 (683,402) 28,276,319 Subtotal 66,598,149 17,788,661 39,996,738 13,577,532 5,314,833 5,249,042 767,644 149,292,599 Result from exposure to changes in the purchasing power of money 4,277,047 (2,666,286) (9,319,586) (2,608,388) (1,120,423) (744,879) (432,079) (12,614,594) Other operating income 4,503,007 4,465,178 744,698 1,071,797 30,867 687,147 (390,201) 11,112,493 Loan loss provisions (12,835,377) (9,908,962) (12,046) (2,607,981) — 34,022 — (25,330,344) Net operating income 62,542,826 9,678,591 31,409,804 9,432,960 4,225,277 5,225,332 (54,636) 122,460,154 Personnel expenses (39,060,155) (3,737,283) (2,736,205) (5,039,007) (934,435) (1,590,087) (347,178) (53,444,350) Administrative expenses (21,849,322) (1,496,356) (1,359,438) (4,301,762) (776,477) (1,347,098) 791,419 (30,339,034) Depreciations and impairment of non-financial assets (5,658,084) (423,852) (319,011) (399,351) (61,042) (30,863) (185,037) (7,077,240) Other operating expenses (11,274,663) (3,691,407) (2,165,681) (1,771,245) (5,369) (305,395) (117,669) (19,331,429) Operating income (15,299,398) 329,693 24,829,469 (2,078,405) 2,447,954 1,951,889 86,899 12,268,101 Income from associates and joint ventures — — — 18,983 — — (18,983) — Result before taxes (15,299,398) 329,693 24,829,469 (2,059,422) 2,447,954 1,951,889 67,916 12,268,101 Income tax 4,059,222 221,470 (6,527,266) 361,314 (865,969) (772,750) 1,548,996 (1,974,983) Net (loss) / income (11,240,176) 551,163 18,302,203 (1,698,108) 1,581,985 1,179,139 1,616,912 10,293,118 Net (loss) / income for the year attributable to owners of the parent company (11,240,174) 551,163 18,302,203 (1,698,108) 1,581,986 1,179,136 1,614,289 10,290,495 Net (loss) / income for the year attributable to non-controlling interest — — — — — — 2,623 2,623 Other comprehensive (loss)/income 647,294 340,978 1,408,984 — — — (34,208) 2,363,048 Other comprehensive (loss) / income attributable to owners of the parent company 647,294 340,978 1,408,984 — — — (36,495) 2,360,761 Other comprehensive (loss) / income attributable to non-controlling interest — — — — — — 2,287 2,287 Comprehensive (loss)/income for the year (10,592,882) 892,141 19,711,187 (1,698,108) 1,581,985 1,179,139 1,582,704 12,656,166 Comprehensive (loss) / income attributable to owners of the parent company (10,592,880) 892,141 19,711,187 (1,698,108) 1,581,986 1,179,136 1,577,794 12,651,256 Comprehensive (loss) / income attributable to non-controlling interest — — — — — — 4,910 4,910 |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INCOME TAX | |
Summary of reconciliation between the tax charge to income result from applying current tax rate | 12/31/2022 12/31/2021 12/31/2020 Income before taxes (8,620,431) (2,837,061) 12,268,101 Tax rate 34 % 28 % 30 % Income for the year at tax rate (2,967,601) (780,253) 3,680,430 Permanent differences at tax rate: Contribution SGR (Mutual Guarantee Societies) (187,991) (562,465) (955,901) Tax inflation adjustment (2,187,304) 218,198 (42,460) Income tax return 34,862 51,612 (50,359) Effect of tax rate change on deferred tax 1,712,213 1,483,722 (1,675,998) Non-deductible results 9,807 134,427 1,019,271 Income tax (3,586,014) 545,241 1,974,983 |
Summary of net position of deferred tax | 12/31/2022 12/31/2021 Deferred tax assets 12,196,868 6,301,474 Deferred tax liability (181,543) (120,258) Net assets by deferred tax 12,015,325 6,181,216 Deferred taxes to be recovered in more than 12 months 9,993,005 3,129,388 Deferred taxes to be recovered in 12 months 2,203,863 3,172,086 Subtotal – Deferred tax assets 12,196,868 6,301,474 Deferred taxes to be paid in more than 12 months (810,164) (165,323) Deferred taxes to be paid in 12 months 628,621 45,065 Subtotal – Deferred tax liabilities (181,543) (120,258) Total Net Assets by deferred Tax 12,015,325 6,181,216 |
Summary of deferred tax assets / (liabilities) | Balance at (Charge)/Credit Balance at 12/31/2021 to Income/OCI 12/31/2022 Intangible assets (2,837,272) 63,842 (2,773,430) Loan Loss Reserves 2,945,323 (994,337) 1,950,986 Property, plant and equipment (7,770,156) 5,174,798 (2,595,358) Foreign Currency (101,579) — (101,579) Tax Loss Carry Forward 7,678,038 4,422,707 12,100,745 Inflation adjustment credit 3,839,317 (1,020,424) 2,818,893 Provisions 592,442 (57,395) 535,047 Others 1,835,103 (1,755,082) 80,021 Total 6,181,216 5,834,109 12,015,325 Balance at (Charge)/Credit Balance at 12/31/2020 to Income 12/31/2021 Intangible assets (2,869,705) 32,433 (2,837,272) Retirement plans 340,596 (340,596) - Loan Loss Reserves 6,403,000 (3,457,677) 2,945,323 Property, plant and equipment (3,462,205) (4,307,951) (7,770,156) Foreign Currency (126,072) 24,493 (101,579) Tax Loss Carry Forward 660,569 7,017,469 7,678,038 Repo transactions 7,418,431 (3,579,114) 3,839,317 Provisions 415,102 177,340 592,442 Others 846,278 988,825 1,835,103 Total 9,625,994 (3,444,778) 6,181,216 |
Summary of loss carryforward | 12/31/2022 Year of generation Amount Year Due Deferred Tax Assets 2019 9,601 2024 3,360 2020 2,338 2025 818 2021 15,715,468 2026 5,500,414 2022 18,846,152 2027 6,596,153 Total 34,573,558 12,100,745 |
FINANCIAL INSTRUMENTS (Tables)
FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
FINANCIAL INSTRUMENTS | |
Summary of financial instruments held by the Group | Fair value Fair value through through Financial Instruments as of 12/31/2022 profit or loss Amortized Cost OCI Total Assets - Cash and due from banks — 48,399,468 — 48,399,468 - Debt securities at fair value through profit or loss 22,384,677 — — 22,384,677 - Derivatives 295,555 — — 295,555 - Reverse Repo transactions — 21,581,438 — 21,581,438 - Other financial assets 5,962,142 2,144,977 — 8,107,119 - Loans and other financing — 235,591,198 — 235,591,198 - Other debt securities — 59,999,337 209,735,714 269,735,051 - Financial assets pledged as collateral 14,381,760 86,905 — 14,468,665 - Investments in Equity Instruments 268,960 — 233,600 502,560 Total Assets 43,293,094 367,803,323 209,969,314 621,065,731 Liabilities - Deposits — 547,516,935 — 547,516,935 - Liabilities at fair value through profit or loss 2,139,170 — — 2,139,170 - Other financial liabilities 17,813,339 292,143 — 18,105,482 - Financing received from the Argentine Central Bank and other financial institutions — 5,529,676 — 5,529,676 - Unsubordinated debt securities — 561,409 — 561,409 Total Liabilities 19,952,509 553,900,163 — 573,852,672 Fair value Fair value through through Financial Instruments as of 12/31/2021 profit or loss Amortized Cost OCI Total Assets - Cash and due from banks — 63,452,161 — 63,452,161 - Debt securities at fair value through profit or loss 38,486,623 — — 38,486,623 - Derivatives 432,164 — — 432,164 - Reverse Repo transactions — 83,468,057 — 83,468,057 - Other financial assets 24,112,684 3,008,295 — 27,120,979 - Loans and other financing — 302,853,393 — 302,853,393 - Other debt securities — 16,044,300 137,706,426 153,750,726 - Financial assets pledged as collateral 15,749,311 885,898 — 16,635,209 - Investments in Equity Instruments 305,851 — 208,948 514,799 Total Assets 79,086,633 469,712,104 137,915,374 686,714,111 Liabilities - Deposits — 561,896,707 — 561,896,707 - Liabilities at fair value through profit or loss 3,999,525 — — 3,999,525 - Other financial liabilities 44,823,532 1,498,758 — 46,322,290 - Financing received from the Argentine Central Bank and other financial institutions — 12,179,537 — 12,179,537 - Unsubordinated debt securities — 2,063,327 — 2,063,327 Total Liabilities 48,823,057 577,638,329 — 626,461,386 |
FAIR VALUES (Tables)
FAIR VALUES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
FAIR VALUES | |
Summary of fair values of financial assets and financial liabilities | Financial Instruments as of 12/31/2022 FV level 1 FV level 2 FV level 3 Total Assets - Debt securities at fair value through profit or loss 22,381,002 3,675 — 22,384,677 - Derivatives 295,555 — — 295,555 - Other financial assets 5,962,142 — — 5,962,142 - Other debt securities 7,375,294 202,360,420 — 209,735,714 - Financial assets pledged as collateral 14,381,760 — — 14,381,760 - Investments in Equity Instruments 268,960 — 233,600 502,560 Total Assets 50,664,713 202,364,095 233,600 253,262,408 Liabilities - Liabilities at fair value through profit or loss 2,139,170 — — 2,139,170 - Other financial liabilities 17,813,339 — — 17,813,339 Total Liabilities 19,952,509 — — 19,952,509 Financial Instruments as of 12/31/2021 FV level 1 FV level 2 FV level 3 Total Assets - Debt securities at fair value through profit or loss 37,879,808 606,815 — 38,486,623 - Derivatives 432,164 — — 432,164 - Other financial assets 24,112,684 — — 24,112,684 - Other debt securities 26,112,213 111,594,213 — 137,706,426 - Financial assets pledged as collateral 15,749,311 — — 15,749,311 - Investments in Equity Instruments 305,851 — 208,948 514,799 Total Assets 104,592,031 112,201,028 208,948 217,002,007 Liabilities - Liabilities at fair value through profit or loss 3,999,525 — — 3,999,525 - Other financial liabilities 44,823,532 — — 44,823,532 Total Liabilities 48,823,057 — — 48,823,057 |
Summary of reconciliation of the financial instruments | FV level 3 12/31/2021 Transfers Additions Disposals P/L 12/31/2022 Assets - Investments in equity instruments 208,948 — 86,273 (14,645) (46,976) 233,600 |
Summary of difference between carrying amount and fair value of assets and liabilities | Other Financial Instruments as of 12/31/2022 Book value Fair value FV Level 1 FV Level 2 FV Level 3 Financial Assets - Cash and due from Banks 48,399,468 48,399,468 48,399,468 — — - Other financial assets 2,144,977 2,144,977 2,144,977 — — - Loans and other financing 235,591,198 236,377,924 — — 236,377,924 - Reverse Repo transactions 21,581,438 21,581,438 21,581,438 — — - Other Debt Securities 59,999,337 62,210,455 32,701,755 29,508,700 — - Financial assets Pledged as collateral 86,905 86,905 86,905 — — 367,803,323 370,801,167 104,914,543 29,508,700 236,377,924 Financial Liabilities - Deposits 547,516,935 562,018,078 — — 562,018,078 - Other financial liabilities 292,143 292,143 292,143 — — - Financing received from the Central Bank and other financial institutions 5,529,676 8,681,274 — — 8,681,274 - Unsubordinated Debt securities 561,409 561,409 561,409 — — - Subordinated Debt securities — — — — — 553,900,163 571,552,904 853,552 — 570,699,352 Other Financial Instruments as of 12/31/2021 Book value Fair value FV Level 1 FV Level 2 FV Level 3 Financial Assets - Cash and due from Banks 63,452,161 63,452,161 63,452,161 — — - Other financial assets 3,008,295 3,008,294 3,008,294 — — - Loans and other financing 302,853,393 328,871,032 — — 328,871,032 - Reverse Repo transactions 83,468,057 83,468,057 83,468,057 — — - Other Debt Securities 16,044,300 16,044,301 16,044,301 — — - Financial assets Pledged as collateral 885,898 885,898 885,898 — — 469,712,104 495,729,743 166,858,711 — 328,871,032 Financial Liabilities - Deposits 561,896,707 564,592,298 — — 564,592,298 - Other financial liabilities 1,498,758 1,498,758 1,498,758 — — - Financing received from the Central Bank and other financial institutions 12,179,537 12,895,022 — — 12,895,022 - Unsubordinated Debt securities 2,063,327 2,063,327 2,063,327 — — - Subordinated Debt securities — — — — — 577,638,329 581,049,405 3,562,085 — 577,487,320 |
Summary of equity instruments measured at fair value with changes in profit or loss | 12/31/2022 12/31/2021 Grupo Financiero Galicia S.A. 5,026 31,699 Pampa Holding S.A 46,530 48,116 Loma Negra S.A. 33,016 31,334 YPF SA 45,593 18,755 Ternium Argentina S.A. 13,738 65,160 Aluar S.A 54,284 35,337 Transener S.A. 5,564 14,200 Others 65,209 61,250 Total 268,960 305,851 |
Summary of equity instruments measured at fair value with changes in other comprehensive income | FV at Income FV at Detail 12/31/2021 through OCI Disposals Additions 12/31/2022 Mercado Abierto Electrónico S.A. 89,112 3,384 - - 92,496 Play Digital S.A. 71,989 (55,626) (14,645) 86,272 87,990 Seguro de Depósitos S.A 13,701 (3,057) - - 10,644 Compensador Electrónica S.A. 22,072 10,616 - - 32,688 Provincanje S.A. 8,627 (1,373) - - 7,254 Cuyo Aval Sociedad de Garantía Recíproca 2,715 (842) - - 1,873 Argencontrol S.A. 306 18 - - 324 IEBA S.A. 119 (58) - - 61 Otras Sociedades de Garantía Recíproca 307 (37) - - 270 Total 208,948 (46,975) (14,645) 86,272 233,600 FV at Income FV at Detail 12/31/2020 through OCI Disposals Additions 12/31/2021 Mercado Abierto Electrónico S.A. 13,554 75,558 — — 89,112 Play Digital S.A. 58,670 (102,057) — 115,376 71,989 Seguro de Depósitos S.A 4,745 8,956 — — 13,701 Compensador Electrónica S.A. 2,704 19,368 — — 22,072 Provincanje S.A. 802 7,825 — — 8,627 Cuyo Aval Sociedad de Garantía Recíproca 4,223 (1,508) — — 2,715 Argencontrol S.A. 368 (62) — — 306 Los Grobo Sociedad de Garantía Recíproca 214 (214) — — — IEBA S.A. 179 (60) — — 119 Otras Sociedades de Garantía Recíproca 391 (84) — — 307 Total 85,850 7,722 — 115,376 208,948 |
FINANCE LEASES (Tables)
FINANCE LEASES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
FINANCE LEASES | |
Summary of carrying amount in the financial position | 12/31/2022 12/31/2021 Right-of-use asset Land and buildings 5,424,368 6,163,928 Lease liability Current 960,674 1,604,291 Non-current 607,788 1,041,516 Total 1,568,462 2,645,807 |
Summary of amounts charged in the income statement | Items 12/31/2022 Right-of-use assets – Depreciation 1,914,585 Interest expenses on lease liabilities (Other operating expenses) 499,393 |
Summary of breakdown of financial lease receivables | Financial Lease Receivables 12/31/2022 12/31/2021 Up to 1 year 7,670,806 6,856,845 More than a year up to two years 6,865,284 5,763,027 From two to three years 4,676,715 4,381,479 From three to five years 2,805,005 2,656,452 More than five years 204,987 28,987 Total 22,222,797 19,686,790 Unearned financial income (11,533,816) (8,005,394) Net investment in the lease 10,688,981 11,681,396 |
Summary of breakdown of operating lease receivables | Operating Lease Receivables 12/31/2022 12/31/2021 Up to 1 year 55,908 27,151 More than a year up to two years 74,929 17,925 From two to three years 27,138 - Total 157,975 45,076 |
REPO AND REVERSE REPO TRANSAC_2
REPO AND REVERSE REPO TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
REPO AND REVERSE REPO TRANSACTIONS | |
Summary of residual values of assets | The residual values of assets transferred under reverse repo transactions as of December 31, 2022 and 2021 are detailed below: Reverse Repo Transactions: Book Value December 31, 2022 21,581,438 December 31, 2021 83,468,057 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
DERIVATIVE FINANCIAL INSTRUMENTS | |
Summary of operation related to derivatives | 12/31/2022 12/31/2021 Amounts receivable for spot and forward transactions pending settlement 203,748 417,814 Amounts payable for spot and forward transactions pending settlement 58,758 14,350 Put option taken 33,049 — 295,555 432,164 |
Summary of notional value of options and outstanding forward and futures contracts | 12/31/2022 12/31/2021 Forward sales of foreign exchange without delivery of underlying assets 13,516,700 7,561,427 Forward purchases of foreign exchange without delivery of underlying assets 4,009,654 3,465,396 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
EARNINGS PER SHARE | |
Summary of earnings per share | 12/31/2022 12/31/2021 12/31/2020 Income attributable to shareholders of the group (5,028,955) (3,378,763) 10,290,495 Weighted average of ordinary shares (thousands) 454,274 456,722 456,722 Income per share (11.07) (7.40) 22.53 |
SPECIAL TERMINATION ARRANGEME_2
SPECIAL TERMINATION ARRANGEMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
SPECIAL TERMINATION ARRANGEMENTS | |
Summary of evolution during each period | 12/31/2022 12/31/2021 Balances at the beginning 3,057,602 3,371,032 Additions to profit or loss 1,672,716 972,190 Benefits paid to participants (2,346,856) (1,285,620) Balances at closing 2,383,462 3,057,602 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
PROPERTY, PLANT AND EQUIPMENT | |
Summary of Property, Plant and Equipment | Gross carrying amount Depreciation At the Net beginning Additions by At the At the Additions by carrying of the Useful business end of beginning business Of the Other At the end amount Item year Life Revaluation Additions combinations Disposals the year of the year Disposals combinations Year Movements of the year 12/31/2022 Cost model Furniture and facilities 4,373,754 10 — 144,217 — — 4,517,971 (3,476,022) 58,292 — (301,972) — (3,719,702) 798,269 Machinery and equipment 16,013,931 5 — 340,487 — (227,007) 16,127,411 (13,454,550) 211,837 — (1,116,499) — (14,359,212) 1,768,199 Vehicles 799,959 5 — 247,011 — (295,481) 751,489 (364,862) 182,719 — (147,336) — (329,479) 422,010 Right of use assets 6,163,928 3 — 1,141,638 — (1,881,198) 5,424,368 (3,008,407) 1,817,423 — (1,914,585) — (3,105,569) 2,318,799 Construction in progress 2,709,633 0 — 1,112,246 — (1,412,578) 2,409,301 — — — — — — 2,409,301 Revaluation model Land and Buildings 12,184,688 50 (838,547) 2,733 — (9,133) 11,339,741 (446,796) — — (235,731) — (682,527) 10,657,214 Total 42,245,893 — (838,547) 2,988,332 — (3,825,397) 40,570,281 (20,750,637) 2,270,271 — (3,716,123) — (22,196,489) 18,373,792 Gross carrying amount Depreciation At the Net beginning Additions by At the At the Additions by carrying of the Useful business end of beginning business Of the Other At the end amount Item year Life Revaluation Additions combinations Disposals the year of the year Disposals combinations Year Movements of the year 12/31/2021 Cost model Furniture and facilities 4,176,818 10 — 287,552 — (90,616) 4,373,754 (3,336,482) 134,836 — (274,376) — (3,476,022) 897,732 Machinery and equipment 15,250,202 5 — 1,133,404 — (369,675) 16,013,931 (12,843,400) 318,508 — (929,658) — (13,454,550) 2,559,381 Vehicles 766,998 5 — 193,116 — (160,155) 799,959 (353,158) 139,341 — (151,045) — (364,862) 435,097 Right of use assets 6,312,483 3 — 2,347,367 — (2,495,922) 6,163,928 (2,783,748) 1,839,911 — (2,064,570) — (3,008,407) 3,155,521 Construction in progress 1,877,037 0 — 1,687,251 — (854,655) 2,709,633 — — — — — — 2,709,633 Revaluation model Land and Buildings 12,357,041 50 204,632 8,997 — (385,982) 12,184,688 (537,390) 357,036 — (266,442) — (446,796) 11,737,892 Total 40,740,579 — 204,632 5,657,687 — (4,357,005) 42,245,893 (19,854,178) 2,789,632 — (3,686,091) — (20,750,637) 21,495,256 |
Summary of Revaluation of Property Plant and Equipment | Residual Value according to Revaluation Revalued the cost Class date amount model Difference Land and buildings 12/31/2022 10,657,214 7,089,416 3,567,798 Land and buildings 12/31/2021 11,737,892 7,332,405 4,405,487 |
INVESTMENT PROPERTIES (Tables)
INVESTMENT PROPERTIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INVESTMENT PROPERTIES | |
Summary of movement in investment properties | At the P/L for Beginning Total useful changes As of Item of the year life Additions in the FV Additions Disposals of the year 12/31/2022 Cost model Rented properties 273,697 5 — — 62,801 (29,163) (44,947) 262,388 Measurement at fair value Rented properties 16,669,654 50 (803,858) 774,868 — — 16,640,664 TOTAL INVESTMENT PROPERTIES 16,943,351 — (803,858) 837,669 (29,163) (44,947) 16,903,052 At the P/L for Beginning Total useful changes As of Item of the year life Additions in the FV Additions Disposals of the year 12/31/2021 Cost model Rented properties 106,668 5 — — 182,496 — (15,467) 273,697 Measurement at fair value Rented properties 17,528,731 50 (859,077) — — — 16,669,654 TOTAL INVESTMENT PROPERTIES 17,635,399 — — (859,077) 182,496 — (15,467) 16,943,351 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INTANGIBLE ASSETS | |
Summary of intangible assets | Gross carrying amount Depreciation At the Additions At the At the At the Net carrying beginning by business End of the beginning By business End of the amount at Item of the year Additions combinations Impairment Disposals year of the year Disposals combinations Of the year year 12/31/2022 Measurement at cost Goodwill 10,702,288 — — (738,774) — 9,963,514 — — — — — 9,963,514 Brands 588,043 — — — — 588,043 — — — — — 588,043 Other intangible assets(*) 22,834,174 5,686,409 — — (182,978) 28,337,605 (11,875,023) 156,023 — (4,894,310) (16,613,310) 11,724,295 TOTAL 34,124,505 5,686,409 — (738,774) (182,978) 38,889,162 (11,875,023) 156,023 — (4,894,310) (16,613,310) 22,275,852 Gross carrying amount Depreciation At the Additions At the At the At the Net carrying beginning by business End of the beginning By business End of the amount at Item of the year Additions combinations Impairment Disposals year of the year Disposals combinations Of the year year 12/31/2021 Measurement at cost Goodwill 10,702,288 — — — — 10,702,288 — — — — — 10,702,288 Brands 588,043 — — — — 588,043 — — — — — 588,043 Other intangible assets(*) 16,580,162 6,288,154 — — (34,142) 22,834,174 (7,928,203) 11,393 — (3,958,213) (11,875,023) 10,959,151 TOTAL 27,870,493 6,288,154 — — (34,142) 34,124,505 (7,928,203) 11,393 — (3,958,213) (11,875,023) 22,249,482 (*)mainly include systems and programs. |
Summary of goodwill by cash generating units | 12/31/2022 12/31/2021 Supervielle Seguros S.A. 28,479 28,479 IUDÚ Compañia Financiera S.A — 717,333 Banco Regional de Cuyo S.A. 149,316 149,316 InvertirOnline S.A.U. / Portal Integral de Inversiones S.A.U. 5,427,807 5,427,807 Micro Lending S.A.U. 4,273,695 4,273,695 Supervielle Agente de Negoación S.A.U. 15,075 15,075 DolarIOL S.A.U. — 21,441 Others 69,142 69,142 TOTAL 9,963,514 10,702,288 |
Summary of assumptions used in goodwill impairment test | Real Forecast Forecast Forecast Forecast Forecast 2022 2023 2024 2025 2026 2027 Inflation (end of period) 95.0 % 91.0 % 60.6 % 41.1 % 35.6 % 35.6 % Inflation (average) 72.4 % 93.0 % 73.3 % 48.1 % 37.6 % 35.6 % Cost of funding (average) 53.2 % 73.4 % 52.4 % 37.8 % 33.2 % 33.2 % Loan’s interest rate (average) 58.5 % 87.7 % 72.8 % 52.8 % 47.9 % 47.9 % |
COMPOSITION OF THE MAIN ITEMS_2
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |
Summary of debt securities at fair value through profit or loss | 12/31/2022 12/31/2021 Government securities 15,745,113 37,147,434 Corporate securities 6,639,564 606,816 Securities issued by the Central Bank — 732,373 22,384,677 38,486,623 |
Schedule of derivatives | 12/31/2022 12/31/2021 Debtor balances related to forward operations in foreign currency to be settled in pesos 203,748 417,814 Debtor balances related to forward operations in foreign currency 58,758 14,350 Put option taken 33,049 — 295,555 432,164 |
Summary of other financial assets | 12/31/2022 12/31/2021 Participation Certificates in Financial Trusts 158,401 167,559 Investments in Asset Management and Other Services 2,164,184 4,019,951 Other investments 1,030,662 1,010,815 Receivable from spot sales pending settlement 2,395,315 19,210,706 Several debtors 2,191,456 1,357,424 Miscellaneous debtors for credit card operations 167,101 1,257,067 Miscellaneous debtors for collections — 97,457 8,107,119 27,120,979 |
Summary of other debt securities | 12/31/2022 12/31/2021 Debt securities 5,658,969 429,369 Government securities 36,917,618 42,167,720 Securities issued by the Central Bank 227,158,416 111,153,464 Others 48 173 269,735,051 153,750,726 |
Summary of financial assets in guarantee | 12/31/2022 12/31/2021 Special guarantees accounts in the Argentine Central Bank 10,294,615 12,691,876 Deposits in guarantee 4,174,050 3,943,333 14,468,665 16,635,209 |
Summary of inventories | 12/31/2022 12/31/2021 Electronics 67,090 271,602 Obsolescence Reserve — (5,174) 67,090 266,428 |
Summary of non-financial assets | 12/31/2022 12/31/2021 Other Miscellaneous assets 2,470,942 2,443,232 Loans to employees 860,120 451,903 Payments in advance 1,333,131 1,539,540 Other non-financial assets 137,373 128,184 Retirement Plan 124,568 135,709 Works of art and collector's pieces 82,705 95,094 5,008,839 4,793,662 |
Summary of deposits | 12/31/2022 12/31/2021 Non-financial sector 27,843,116 22,352,551 Financial sector 101,430 76,162 Current accounts 50,574,131 61,528,491 Savings accounts 271,188,474 305,671,184 Time deposits and investments accounts 150,744,921 163,834,532 Others 47,064,863 8,433,787 547,516,935 561,896,707 |
Summary of liabilities at fair value through profit or loss | 12/31/2022 12/31/2021 Liabilities for transactions in local currency 1,270,093 2,657,571 Liabilities for transactions in foreign currency 869,077 1,341,954 2,139,170 3,999,525 |
Summary of other financial liabilities | 12/31/2022 12/31/2021 Amounts payable for spot transactions pending settlement 2,062,722 25,036,289 Collections and other operations on behalf of third parties 14,386,907 17,519,227 Fees accrued to pay 3,680 13,304 Financial guarantee contracts 24,402 27,661 Liabilities associated with the transfer of financial assets not derecognized — 1,074,393 Lease liability 1,568,462 2,645,807 Others 59,309 5,609 18,105,482 46,322,290 |
Summary of financing received from the Argentine Central Bank and other financial institutions | 12/31/2022 12/31/2021 Financing received from local financial institutions 3,819,232 2,017,925 Financing received from international institutions 1,710,444 10,161,612 5,529,676 12,179,537 |
Summary of provisions | 12/31/2022 12/31/2021 Eventual commitments 87,249 116,256 Unused Balances of Credit Cards 455,424 404,901 Other contingencies 1,148,983 1,258,612 1,691,656 1,779,769 |
Summary of other non-financial liabilities | 12/31/2022 12/31/2021 Payroll and social securities 11,318,832 12,182,997 Sundry creditors 9,206,832 11,513,613 Revenue from contracts with customers (1) 328,012 357,894 Tax payable 7,085,989 6,739,675 Social security payment orders pending settlement 748,064 785,876 Other 107,664 120,343 28,795,393 31,700,398 (1) Deferred income resulting from contracts with customers includes the liability for the customers’ loyalty program. Grupo Supervielle estimates the value of the points granted to customers through the application of a mathematical model that considers assumptions about redemption rates, the fair value of points redeemed based on the combination of available products, and customer preferences, as well as the expiration of un-redeemed points. |
Summary of interest income | 12/31/2022 12/31/2021 12/31/2020 Interest on overdrafts 7,537,097 6,103,081 7,875,342 Interest on promissory notes 20,561,099 21,806,715 18,307,059 Interest on personal loans 29,590,308 37,793,670 41,673,623 Interest on corporate unsecured loans 16,284,814 13,476,675 17,587,964 Interest on credit card loans 14,730,148 11,546,621 11,227,684 Interest on mortgage loans 18,113,794 13,757,962 11,745,104 Interest on automobile and other secured loan 4,213,953 3,016,404 2,171,083 Interest on foreign trade loans 1,287,776 2,422,345 4,272,549 Interest on financial leases 4,580,097 3,080,043 2,071,129 Interest on public and private securities measured at amortized cost 124,280,620 53,904,404 60,345,952 Others 10,694,120 34,570,333 12,955,694 Total 251,873,826 201,478,253 190,233,183 |
Summary of interests expenses | 12/31/2022 12/31/2021 12/31/2020 Interest on current accounts deposits 67,816,547 41,178,718 18,597,380 Interest on time deposits 94,781,418 73,231,650 57,555,195 Interest on other financial liabilities 1,274,421 2,693,801 6,721,267 Interest from financing from financial sector 1,077,969 356,084 296,475 Others 555,986 388,664 857,006 Total 165,506,341 117,848,917 84,027,323 |
Summary of net income from financial instruments at fair value through profit or loss | 12/31/2022 12/31/2021 12/31/2020 Income from corporate and government securities 16,522,687 13,548,213 8,820,689 Income from securities issued by the Argentine Central Bank 1,060,836 680,886 398,377 Derivatives 663,196 3,086,983 529,542 Total 18,246,719 17,316,082 9,748,608 |
Summary of service fee income | 12/31/2022 12/31/2021 12/31/2020 Commissions from deposits accounts 12,250,189 12,655,098 13,605,729 Commissions from credit and debit cards 9,546,677 9,714,194 10,036,236 Commissions from loans operations 305,141 308,447 484,704 Others Commissions 8,237,061 9,785,059 9,667,934 Total 30,339,068 32,462,798 33,794,603 |
Summary of service fee expenses | 12/31/2022 12/31/2021 12/31/2020 Commissions paid 10,470,112 9,657,854 10,202,182 Export and foreign currency operations 253,043 238,577 230,580 Total 10,723,155 9,896,431 10,432,762 |
Summary of income from insurance activities | 12/31/2022 12/31/2021 12/31/2020 Accrued premiums 6,420,960 6,957,274 6,765,070 Accrued losses (1,017,709) (1,357,796) (907,941) Production expenses (876,879) (1,175,246) (942,651) Total 4,526,372 4,424,232 4,914,478 |
Summary of other operating incomes | 12/31/2022 12/31/2021 12/31/2020 Loans recovered and allowances reversed 3,252,298 3,338,184 1,683,227 Insurance commissions — 493 151,497 Rental from safety boxes 762,668 748,974 1,000,573 Returns of risk funds 1,562,986 2,416,374 3,574,582 Commissions from trust services 81,322 86,860 28,339 Adjustment of various credits 437,737 333,772 626,057 Sale of fixed assets 28,614 17,444 393,942 Others 4,365,792 3,531,683 3,654,276 Total 10,491,417 10,473,784 11,112,493 |
Summary of personnel expenses | 12/31/2022 12/31/2021 12/31/2020 Payroll and social securities 49,541,757 46,179,965 49,051,781 Others expenses 4,350,789 3,670,186 4,392,569 Total 53,892,546 49,850,151 53,444,350 |
Summary of administration expenses | 12/31/2022 12/31/2021 12/31/2020 Directors´ and statutory auditors’fees 797,886 792,637 1,004,188 Professional fees 8,305,036 8,755,543 8,949,970 Advertising and publicity 2,213,501 2,237,122 2,024,957 Taxes 6,451,913 6,586,781 5,462,877 Maintenance, security and services 6,923,964 8,019,296 8,301,300 Rent 78,955 152,868 211,843 Others 3,791,566 3,367,374 4,383,899 Total 28,562,821 29,911,621 30,339,034 |
Summary of depreciation and impairment of non-financial assets | 12/31/2022 12/31/2021 12/31/2020 Depreciation of property, plant and equipment 1,801,538 1,621,521 1,538,369 Depreciation of other non-financial assets 749,390 585,375 688,436 Depreciation of intangible assets 4,894,310 3,958,213 2,555,881 Depreciation of right-of-use assets 1,914,585 2,064,570 2,294,554 Impairment of other non-financial assets — 610 — Impairment of goodwill 738,774 — — Total 10,098,597 8,230,289 7,077,240 |
Summary of other operating expenses | 12/31/2022 12/31/2021 12/31/2020 Promotions related with credit cards 1,734,064 1,771,342 1,544,669 Turnover tax 17,218,668 15,858,707 11,615,533 Fair value on initial recognition of loans 154,086 383,330 574,696 Contributions made to deposit insurance system 895,057 957,301 852,123 Others 6,627,215 4,108,505 4,744,408 Total 26,629,090 23,079,185 19,331,429 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
COMMITMENTS AND CONTINGENCIES | |
Summary of provision | 12/31/2022 12/31/2021 Legal issues 197,158 141,755 Labor lawsuits 580,669 624,610 Tax 181,830 277,032 Unused Balances of Credit Cards 455,424 404,901 Charges to be paid to National Social Security Administration 135,676 105,301 Judicial Deposits 47,448 53,373 Eventual commitments 87,249 116,256 Others 6,202 56,541 Total 1,691,656 1,779,769 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
RELATED PARTY TRANSACTIONS | |
Summary of Aggregate Amounts to Related Parties | As of As of December 31, 2022 December 31, 2021 Aggregate total financial exposure 673,747 476,728 Number of recipient related parties 80 79 (a) Individuals 70 69 (b) Companies 10 10 Average total financial exposure 8,422 6,035 Single largest exposure 358,255 446,417 |
INSURANCE (Tables)
INSURANCE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
INSURANCE | |
Summary of assets and liabilities related to insurance activities | 12/31/2022 12/31/2021 Assets related to insurance contracts ( (i) included withinLoans and other financing) Commissions receivables 1,754,250 1,673,423 Receivables premiums 2,089 5,931 Total 1,756,339 1,679,354 Liabilities related to insurance contracts ( (ii) included withinOther non-financial liabilities) Debt with insured 304,775 380,369 Debt with reinsurers 64,079 51,505 Debt with producers 334,779 484,538 Technical commitments 746,211 677,896 Outstanding claims paid by re-insurance companies (1,621) (2,734) commissions to pay 4,217 6,910 Total 1,452,440 1,598,484 Debt with insured Property insurance Direct administrative insurance 79,020 73,772 Direct insurance in mediation - 49 Claims settled to pay 140 273 Direct insurance in judgments 2,664 5,141 Claims occurred and not reported - IBNR 551 13,986 Life insurance Direct administrative insurance 119,722 160,973 Direct insurance in judgments 2,041 2,823 Direct insurance in mediation 383 793 Claims settled to pay 20,884 32,396 Claims occurred and not reported - IBNR 79,370 90,163 Total 304,775 380,369 Debt with producers Producers current account 37,480 45,063 Commissions for premiums receivable 297,299 439,475 Total 334,779 484,538 Technical commitments Course and similar risk Premiums and surcharges 746,115 667,367 Premium insufficiency 96 10,529 Total 746,211 677,896 |
ASSET MANAGEMENT AND OTHER SE_2
ASSET MANAGEMENT AND OTHER SERVICES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
ASSET MANAGEMENT AND OTHER SERVICES | |
Schedule of asset management and other services | Portfolio Net Worth Number of Units Asset Management and Other Service 12/31/2022 12/31/2021 12/31/2022 12/31/2021 12/31/2022 12/31/2021 Premier Renta C.P. Pesos 101,661,606 98,135,716 101,528,063 97,995,350 16,191,115,975 11,713,447,317 Premier Renta Plus en Pesos 671,186 580,351 669,226 576,890 21,721,110 15,706,691 Premier Renta Fija Ahorro 12,905,041 17,957,707 12,775,831 17,840,745 712,483,562 2,136,780,683 Premier Renta Fija Crecimiento 205,918 222,501 205,377 221,883 4,920,585 4,571,392 Premier Renta Variable 599,412 798,301 584,246 792,070 5,946,886 8,944,577 Premier FCI Abierto Pymes 1,282,598 2,028,648 1,236,395 2,024,425 75,458,259 99,988,028 Premier Commodities 1,048,467 582,665 804,068 439,031 24,979,798 15,200,277 Premier Capital 6,688,744 2,801,114 6,650,992 2,768,095 476,377,885 180,998,028 Premier Inversión 1,264,380 2,563,981 1,263,772 2,562,732 1,052,023,732 1,965,594,347 Premier Balanceado 1,689,536 2,343,765 1,370,786 2,341,934 102,340,389 169,137,724 Premier Renta Mixta 3,805,353 7,166,782 3,796,118 6,390,810 616,247,881 850,150,799 Premier Renta Mixta en USD 283,405 262,797 237,883 261,196 2,569,639 2,122,092 Premier Performance en USD 542,190 1,016,561 537,053 1,009,157 4,468,523 6,455,272 Premier Global USD 66,246 517,589 65,360 516,588 321,553 2,430,000 Premier Estratégico 1,465,984 — 1,464,690 — 832,710,848 — |
RESTRICTED ASSETS (Tables)
RESTRICTED ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
RESTRICTED ASSETS | |
Summary of Restricted Assets | Item 12/31/2022 12/31/2021 Financial assets in guarantee Special guarantee accounts in the Argentine Central Bank 10,294,615 12,691,876 Guarantee deposits for currency forward transactions 2,703,808 2,544,378 Guarantee deposits for credit cards transactions 998,480 1,298,832 Other guarantee deposits 471,762 100,123 14,468,665 16,635,209 |
FINANCIAL TRUSTS (Tables)
FINANCIAL TRUSTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fideicomiso de Administracin Interconexin Financial Trust | |
Disclosure of financial trust [line items] | |
Summary of Financial Trust | Financial trust Indenture executed on Due of principal obligation Original principal amount Principal balance Beneficiaries Settlers Fideicomiso de Administración Interconexión 500 KV ET Nueva San Juan - ET Rodeo Iglesia 09/12/2018 The Term of this Trust Fund Contract will be in force over 24 months from 09/12/2018, or until the expiration of liabilities through Disbursements (Termination Date”). 30 days (thirty days) after the maturity of this Trust Agreement without the parties’ having agreed upon an Extension Commission, the Trustor of the trust account shall receive USD 6,000 (six thousand US Dollars) at the exchange rate in force in Banco Supervielle as a fine. - - Those initially mentioned (DISERVEL S.R.L., INGENIAS S.R.L, GEOTECNIA (INV. CALVENTE), NEWEN INGENIERIA S.A., INGICIAP S.A., MERCADOS ENERGETICOS, DISERVEL S.R.L.) and providers of works, goods and services included in the Project to be assigned by the Trustee with prior consent of the Trustor Interconexion Electrica Rodeo S.A. |
Micro Lending Financial Trust | |
Disclosure of financial trust [line items] | |
Summary of Financial Trust | Securitized Issued Securities Financial Trust Set-up on Amount Type Amount Type Amount Type Amount III 06/08/2011 $ 39,779 VDF TV A VN$31,823 VDF B VN $6,364 CP VN $1,592 Vto: 03/12/13 Vto: 11/12/13 Vto: 10/12/16 IV 09/01/2011 $ 40,652 VDF TV A VN$32,522 VDF B VN $6,504 CP VN $1,626 Vto: 06/20/13 Vto: 10/20/13 Vto: 06/29/17 |
ISSUANCE OF DEBT SECURITIES (Ta
ISSUANCE OF DEBT SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Banco Supervielle S.A. | |
ISSUANCE OF DEBT SECURITIES | |
Summary of Outstanding obligations | Class Issue Date Maturity Date Annual Interest Rate 12/31/2022 12/31/2021 Banco Supervielle Class E 02/14/2018 02/14/2023 Badlar + Spread 4.05 % 561,409 2,063,327 Total 561,409 2,063,327 |
RESTRICTIONS IMPOSED ON THE D_2
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |
Schedule of shareholders' equity under the rules of the Argentine Central Bank | 12/31/2022 Capital stock 444,411 Inflation adjustment of capital stock 8,794,281 Paid in capital 84,849,949 Treasury shares 12,311 Inflation adjustment of treasury shares 820,226 Cost of treasury shares (1,383,270) Legal reserve 1,035,973 Other reserves 5,164,443 Retained earnings (7,931,870) Other comprehensive Income 1,034,262 Total shareholders’ equity attributable to the owners of the parent under the rules of the Argentine Central Bank 92,840,716 |
LOANS AND OTHER FINANCING (Tabl
LOANS AND OTHER FINANCING (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
LOANS AND OTHER FINANCING | |
Summary of composition of loan portfolio | As of December 31, 2022 and 2021 the composition of the loan portfolio is as follows: Total as of Assets Before Allowances December 31, Stage 1 Stage 2 Stage 3 2022 Promissory notes 34,148,294 338,608 134,129 34,621,031 Unsecured corporate loans 39,685,295 350,203 1,325,496 41,360,994 Overdrafts 14,159,148 202,393 173,411 14,534,952 Mortgage loans 22,370,809 2,004,852 709,661 25,085,322 Automobile and other secured loans 6,272,346 1,266,879 405,197 7,944,422 Personal loans 29,555,460 6,148,950 2,583,516 38,287,926 Credit card loans 40,850,222 6,136,469 2,354,959 49,341,650 Foreign Trade Loans 12,897,902 1,849,831 1,480,395 16,228,128 Other financings 6,590,309 162,289 66,392 6,818,990 Other receivables from financial transactions 2,711,989 90,951 97,914 2,900,854 Receivables from financial leases 10,447,409 202,858 38,714 10,688,981 Subtotal 219,689,183 18,754,283 9,369,784 247,813,250 Allowances for loan losses (3,035,675) (2,926,254) (6,260,123) (12,222,052) Total 216,653,508 15,828,029 3,109,661 235,591,198 Total as of Assets Before Allowances December 31, Stage 1 Stage 2 Stage 3 2021 Promissory notes 72,323,806 1,309,431 337,670 73,970,907 Unsecured corporate loans 21,969,956 842,893 2,606,341 25,419,190 Overdrafts 9,625,551 272,572 228,013 10,126,136 Mortgage loans 27,924,803 2,360,621 624,902 30,910,326 Automobile and other secured loans 6,309,306 793,917 529,645 7,632,868 Personal loans 48,402,450 7,542,402 5,001,142 60,945,994 Credit card loans 52,516,363 5,207,835 2,782,584 60,506,782 Foreign Trade Loans 19,206,386 4,278,282 3,306,523 26,791,191 Other financings 7,015,741 472,294 161,916 7,649,951 Other receivables from financial transactions 5,958,063 78,529 220,716 6,257,308 Receivables from financial leases 11,323,929 801,549 89,728 12,215,206 Subtotal 282,576,354 23,960,325 15,889,180 322,425,859 Allowances for loan losses (3,555,515) (5,147,174) (10,869,777) (19,572,466) Total 279,020,839 18,813,151 5,019,403 302,853,393 |
Summary of changes in gross carrying amount and corresponding expected credit losses | Assets Before Allowances ECL Allowance Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Balance at the beginning of the year 282,576,354 23,960,325 15,889,180 322,425,859 3,555,515 5,147,174 10,869,777 19,572,466 Transfers 1 to 2 (4,339,851) 4,339,851 — — (122,595) 930,556 — 807,961 1 to 3 (674,849) — 674,849 — (24,667) — 1,271,329 1,246,662 2 to 3 — (530,731) 530,731 — — (179,202) 852,277 673,075 2 to 1 3,616,758 (3,616,758) — — (4,539) (1,293,359) — (1,297,898) 3 to 2 — 235,228 (235,228) — — (54,830) (183,335) (238,165) 3 to 1 210,929 — (210,929) — (58,052) — (144,059) (202,111) Additions 130,836,311 8,708,725 2,894,580 142,439,616 2,032,680 2,262,129 4,783,651 9,078,460 Disposals (70,170,490) (4,378,611) (2,388,699) (76,937,800) (824,470) (1,518,666) (3,229,038) (5,572,174) Net changes of financial assets (125,950,841) (8,211,017) 787,273 (133,374,585) (237,515) (508,239) 685,215 (60,539) Write-Offs (1,417,679) (1,955,244) (9,267,030) (12,639,953) (1,417,679) (1,955,244) (9,267,030) (12,639,953) Exchange Differences and Others 5,002,541 202,515 695,057 5,900,113 136,997 95,935 621,336 854,268 Gross carrying amount at December 31, 2022 219,689,183 18,754,283 9,369,784 247,813,250 3,035,675 2,926,254 6,260,123 12,222,052 Assets Before Allowances ECL Allowance Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Balance at the beginning of the year 283,660,430 28,956,778 22,040,628 334,657,836 5,457,993 5,847,347 13,465,342 24,770,682 Transfers 1 to 2 (5,272,473) 5,272,473 — — (280,039) 1,438,353 — 1,158,314 1 to 3 (3,251,536) — 3,251,536 — (415,455) — 4,850,154 4,434,699 2 to 3 — (673,799) 673,799 — — (418,256) 771,356 353,100 2 to 1 4,815,840 (4,815,840) — — 55,760 (724,016) — (668,256) 3 to 2 — 849,906 (849,906) — — 200,549 (833,305) (632,756) 3 to 1 1,069,850 — (1,069,850) — (1,556) — (564,155) (565,711) Net changes of financial assets 2,149,875 (4,301,164) 1,703,495 (447,794) 1,532,578 554,927 3,314,566 5,402,071 Write-Offs (2,844,265) (1,807,285) (10,163,515) (14,815,065) (2,844,265) (1,807,286) (10,163,515) (14,815,066) Exchange Differences and Others 2,248,633 479,256 302,993 3,030,882 50,499 55,556 29,334 135,389 Gross carrying amount at December 31, 2021 282,576,354 23,960,325 15,889,180 322,425,859 3,555,515 5,147,174 10,869,777 19,572,466 |
Summary of financial assets | Allowances Gross for loans Fair value of Credit Impaired loans exposure losses Book value collateral Overdrafts 173,411 129,221 44,190 — Financial Lease 38,714 14,775 23,939 32,809 Promissory Notes 134,129 69,054 65,075 106,568 Mortgage loans 709,661 399,025 310,636 221,767 Personal loans 2,583,516 2,263,733 319,783 — Pledge loans 405,197 292,372 112,825 112,825 Credit cards 2,354,959 2,175,042 179,917 — Other 2,970,197 916,900 2,053,297 2,053,295 Total 9,369,784 6,260,123 3,109,661 2,527,264 |
Summary of withdrawal financial assets from its balance sheet | 12.31.2022 12.31.2021 Balance at the beginning of the year 15,387,785 21,164,081 Additions 12,639,953 14,815,066 Disposals (9,711,831) (6,320,836) Cash collection (1,924,172) (2,129,966) Portfolio sales (528,944) (1,040,168) Condonation (7,258,715) (3,150,702) Exchange differences and other movements (10,450,132) (14,270,525) Gross carrying amount 7,865,775 15,387,785 |
RISK MANAGEMENT POLICIES (Table
RISK MANAGEMENT POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
RISK MANAGEMENT POLICIES | |
Summary of maximum credit risk exposure | December 31, 2022 ECL Staging Stage 1 Stage 2 Stage 3 Loan Type 12-month ECL Lifetime ECL Lifetime ECL Total Promissory Notes 34,148,294 338,608 134,129 34,621,031 Unsecured Corporate Loans 39,685,295 350,203 1,325,496 41,360,994 Overdrafts 18,834,132 256,209 173,411 19,263,752 Mortgage Loans 22,370,809 2,004,852 709,661 25,085,322 Automobile and other secured loans 6,272,346 1,266,879 405,197 7,944,422 Personal Loans 29,555,460 6,148,950 2,583,516 38,287,926 Retail 29,555,460 6,148,950 2,583,516 38,287,926 Consumer Finance — — — — Credit Card Loans 100,611,395 9,616,296 2,354,959 112,582,650 Retail 100,611,395 9,616,296 2,354,959 112,582,650 Consumer Finance — — — — Receivables from Financial Leases 10,750,341 202,858 38,715 10,991,914 Foreign Trade Loans 12,897,902 1,849,831 1,480,395 16,228,128 Other Financings 13,094,711 162,372 66,393 13,323,476 Other Receivables from Financial Transactions 2,410,136 90,951 97,912 2,598,999 Total 290,630,821 22,288,009 9,369,784 322,288,614 December 31, 2021 ECL Staging Stage 1 Stage 2 Stage 3 Loan Type 12-month ECL Lifetime ECL Lifetime ECL Total Promissory Notes 72,323,806 1,309,431 337,670 73,970,907 Unsecured Corporate Loans 21,969,956 842,893 2,606,341 25,419,190 Overdrafts 25,885,935 545,292 228,014 26,659,241 Mortgage Loans 27,924,802 2,360,621 624,903 30,910,326 Automobile and other secured loans 6,309,306 793,917 529,645 7,632,868 Personal Loans 48,402,450 7,542,402 5,001,142 60,945,994 Retail 40,015,365 6,519,568 1,625,713 48,160,646 Consumer Finance 8,387,085 1,022,834 3,375,429 12,785,348 Credit Card Loans 118,056,758 8,296,881 2,782,582 129,136,221 Retail 98,621,271 7,336,223 742,201 106,699,695 Consumer Finance 19,435,487 960,658 2,040,381 22,436,526 Receivables from Financial Leases 11,323,930 801,549 89,728 12,215,207 Foreign Trade Loans 19,206,386 4,278,282 3,306,523 26,791,191 Other Financings 8,283,198 481,468 161,917 8,926,583 Other Receivables from Financial Transactions 5,959,301 78,529 220,716 6,258,546 Total 365,645,828 27,331,265 15,889,181 408,866,274 |
Summary of exposure to the Group's exchange risk by currency type | Balances as of 12/31/2022 Balances as of 12/31/2021 Monetary Monetary Monetary Monetary Financial Financial Net Financial Financial Net Currency Assets Liabilities Derivatives Position Assets Liabilities Derivatives Position US Dollar 67,887,912 60,791,253 55,699 7,152,358 80,251,834 70,947,953 14,350 9,318,231 Euro 1,432,907 1,098,753 — 334,154 1,798,095 1,666,068 — 132,027 Others 478,272 11,892 — 466,380 610,183 15,426 — 594,757 Total 69,799,091 61,901,898 55,699 7,952,892 82,660,112 72,629,447 14,350 10,045,015 |
Summary of sensitivity analysis performed reasonably possible changes in foreign exchange rates | 12/31/2022 12/31/2021 Currency Variation P/L Equity Variation P/L Equity US Dollar 85.70 % 6,132,508 6,132,508 52.50 % 4,888,105 4,888,105 (85.70) % (6,132,508) (6,132,508) (52.50) % (4,888,105) (4,888,105) Euro 85.70 % 286,507 286,507 52.50 % 69,259 69,259 (85.70) % (286,507) (286,507) (52.50) % (69,259) (69,259) Other 85.70 % 399,880 399,880 52.50 % 311,994 311,994 (85.70) % (399,880) (399,880) (52.50) % (311,994) (311,994) Total 85.70 % 6,818,895 6,818,895 52.50 % 5,269,358 5,269,358 (85.70) % (6,818,895) (6,818,895) (52.50) % (5,269,358) (5,269,358) |
Summary of exposure to interest rate risk | Term in days Assets and Liabilities Up to 30 From 30 to 90 from 90 to 180 from 180 to 365 More than 365 Total To 12/31/2022 Total Financial Assets 391,057,404 50,449,192 36,598,283 14,101,774 149,605,751 641,812,404 Total Financial Liabilities (294,395,625) (46,241,210) (34,316,868) (357,570) (165,494,258) (540,805,531) Net Amount 96,661,779 4,207,982 2,281,415 13,744,204 (15,888,507) 101,006,873 Term in days Assets and Liabilities Up to 30 From 30 to 90 from 90 to 180 from 180 to 365 More than 365 Total To 12/31/2021 Total Financial Assets 327,118,076 76,493,228 69,505,067 45,484,824 180,349,681 698,950,876 Total Financial Liabilities (332,718,871) (83,515,461) (15,815,948) (1,092,601) (205,378,261) (638,521,142) Net Amount (5,600,795) (7,022,233) 53,689,119 44,392,223 (25,028,580) 60,429,734 |
Summary of sensitivity to reasonably possible additional variation in interest rates for next year | 12/31/2022 12/31/2021 Increase / (decrease) Increase / (decrease) Additional variation in in the income Additional variation in in the income Items the interest rate statement the interest rate statement Decrease in the interest rate 4% ARS; 2% USD 147,263 4% ARS; 2% USD 508,225 Increase in the interest rate 4% ARS; 2% USD 198,390 4% ARS; 2% USD (506,680) |
Schedule of concentration of loans and deposits | Loans and other financing 12/31/2022 12/31/2021 Number of Clients Balance % over total portfolio Balance % over total portfolio 10 largest customers 21,912,962 8.8% 25,625,797 7.9% 50 following largest customers 39,836,474 16.1% 41,425,451 12.8% 100 following largest customers 30,829,050 12.4% 33,701,260 10.5% Rest of customers 155,234,764 62.6% 221,673,351 68.8% TOTAL 247,813,250 100.0% 322,425,859 100.0% Deposits 12/31/2022 12/31/2021 Number of customers Balance % over total portfolio Balance % over total portfolio 10 largest customers 183,536,099 33.5% 185,592,666 33.0% 50 following largest customers 121,769,699 22.2% 94,391,684 16.8% 100 following largest customers 30,244,413 5.5% 29,423,744 5.2% Rest of customers 211,966,724 38.7% 252,488,613 44.9% TOTAL 547,516,935 100.0% 561,896,707 100.0% |
Summary of analysis of the assets and liabilities maturities | Less than From 1 to From 3 to From 6 months to From 1 to More than As of 12/31/2022 1 month 3 months 6months 1 years 2 years 2 years Total Loans and other financing 134,800,349 39,924,133 39,821,269 43,539,498 57,706,654 163,290,339 479,082,242 To the non-financial public sector 37,701 67,738 — 70,540 143,822 588,234 908,035 To the financial sector 568,717 9,524 19,826 29,434 54,312 — 681,813 To the Non-Financial Private Sector and Foreign residents 134,193,931 39,846,871 39,801,443 43,439,524 57,508,520 162,702,105 477,492,394 TOTAL ASSETS 134,800,349 39,924,133 39,821,269 43,539,498 57,706,654 163,290,339 479,082,242 Deposits 485,569,501 30,307,792 44,596,340 1,242,712 335 — 561,716,680 Non-financial public sector 26,076,337 2,057,362 — — — — 28,133,699 Financial sector 101,430 — — — — — 101,430 Non-financial private sector and foreign residents 459,391,734 28,250,430 44,596,340 1,242,712 335 — 533,481,551 Liabilities at fair value through profit or loss 2,139,170 — — — — — 2,139,170 Other financial liabilities 16,813,041 204,269 283,382 475,660 595,656 639,307 19,011,315 Financing received from the Argentine Central Bank and other financial institutions 2,263,340 852,999 697,528 1,213,618 1,201,893 856,451 7,085,829 Unsubordinated debt securities 293,278 829,167 — — — — 1,122,445 TOTAL LIABILITIES 507,078,330 32,194,227 45,577,250 2,931,990 1,797,884 1,495,758 591,075,439 |
ASSETS AND LIABILITIES IN FOR_2
ASSETS AND LIABILITIES IN FOREIGN CURRENCY (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
ASSETS AND LIABILITIES IN FOREIGN CURRENCY | |
Summary of Assets and Liabilities in Foreign Currency | At At 12/31/2022 (per currency) At Items 12/31/2022 Dollar Euro Real Others 12/31/2021 ASSETS Cash and Due from Banks 38,704,310 36,794,745 1,431,855 18,686 459,024 41,833,675 Government and corporate securities at fair value with changes in results 1,429,718 1,429,718 - - - 1,514,433 Derivatives 55,699 55,699 - - - 14,350 Other financial assets 1,769,736 1,769,736 - - - 1,385,443 Loans and other financing 18,198,894 18,197,280 1,052 - 562 30,054,095 Other Debt Securities 9,724,230 9,724,230 - - - 7,270,268 Financial assets in guarantee 969,770 969,770 - - - 2,117,659 Other non-financial assets 133,368 133,368 - - - 236,308 TOTAL ASSETS 70,985,725 69,074,546 1,432,907 18,686 459,586 84,426,231 LIABILITIES Deposits 54,960,339 54,175,328 785,011 — — 56,145,338 Non-financial public sector 1,925,433 1,925,157 276 - - 2,170,078 Financial sector 1,528 1,528 - - - 430 Non-financial private sector and foreign residents 53,033,378 52,248,643 784,735 - - 53,974,830 Liabilities at fair value with changes in results 869,077 869,077 - - - 1,341,954 Other financial liabilities 4,269,550 3,943,918 313,742 27 11,863 5,029,575 Financing received from the Argentine Central Bank and other financial entities 1,710,444 1,710,444 - - - 10,003,199 Other non-financial liabilities 297,471 297,469 - - 2 720,077 TOTAL LIABILITIES 62,106,881 60,996,236 1,098,753 27 11,865 73,240,143 NET POSITION 8,878,844 8,078,310 334,154 18,659 447,721 11,186,088 |
CURRENT_NON-CURRENT DISTINCTI_2
CURRENT/NON-CURRENT DISTINCTION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
CURRENT/NON-CURRENT DISTINCTION | |
Summary of Assets and Liability | 12/31/2022 12/31/2021 No more than No more than 12 months More than 12 12 months More than 12 after the months after after the months after reporting the reporting reporting the reporting ASSETS period period Total period period Total Cash and due from banks 48,399,468 — 48,399,468 63,452,161 — 63,452,161 Cash 19,122,146 — 19,122,146 24,523,137 — 24,523,137 Argentine Central Bank 27,184,409 — 27,184,409 35,324,768 — 35,324,768 Other local financial institutions 2,064,305 — 2,064,305 2,353,797 — 2,353,797 Others 28,608 — 28,608 1,250,459 — 1,250,459 Debt Securities at fair value through profit or loss 22,384,677 — 22,384,677 38,486,623 — 38,486,623 Derivatives 295,555 — 295,555 432,164 — 432,164 Reverse Repo transactions 21,581,438 — 21,581,438 83,468,057 — 83,468,057 Other financial assets 8,107,119 — 8,107,119 27,120,979 — 27,120,979 Loans and other financing 188,125,734 47,465,464 235,591,198 225,329,776 77,523,617 302,853,393 To the non-financial public sector 41,241 236,461 277,702 44,292 — 44,292 To the financial sector 599,994 44,539 644,533 23,689 125,974 149,663 To the Non-Financial Private Sector and Foreign residents 187,484,499 47,184,464 234,668,963 225,261,795 77,397,643 302,659,438 Other debt securities 245,157,911 24,577,140 269,735,051 142,602,508 11,148,218 153,750,726 Financial assets in guarantee 14,468,665 — 14,468,665 16,635,209 — 16,635,209 Current income tax assets 976,073 — 976,073 1,714,745 — 1,714,745 Inventories 67,090 — 67,090 266,428 — 266,428 Investments in equity instruments — 502,560 502,560 — 514,799 514,799 Property, plant and equipment — 18,373,792 18,373,792 — 21,495,256 21,495,256 Investment Property — 16,903,052 16,903,052 — 16,943,351 16,943,351 Intangible assets — 22,275,852 22,275,852 — 22,249,482 22,249,482 Deferred income tax assets 1,813,368 10,383,500 12,196,868 945,220 5,356,254 6,301,474 Other non-financial assets 2,388,102 2,620,737 5,008,839 2,212,722 2,580,940 4,793,662 TOTAL ASSETS 553,765,200 143,102,097 696,867,297 602,666,592 157,811,917 760,478,509 12/31/2022 12/31/2021 No more than No more than 12 months More than 12 12 months More than 12 after the months after after the months after reporting the reporting reporting the reporting LIABILITIES period period Total period period Total Deposits 547,516,823 112 547,516,935 561,891,112 5,595 561,896,707 Non-financial public sector 27,843,116 — 27,843,116 22,352,551 — 22,352,551 Financial sector 101,430 — 101,430 76,162 — 76,162 Non-financial private sector and foreign residents 519,572,277 112 519,572,389 539,462,399 5,595 539,467,994 Liabilities at fair value through profit or loss 2,139,170 — 2,139,170 3,999,525 — 3,999,525 Other financial liabilities 17,423,147 682,335 18,105,482 45,229,097 1,093,193 46,322,290 Financing received from the Argentine Central Bank and other financial institutions 4,000,796 1,528,880 5,529,676 11,401,927 777,610 12,179,537 Unsubordinated negotiable Obligations 561,409 — 561,409 665,458 1,397,869 2,063,327 Provisions 10,720 1,680,936 1,691,656 128,920 1,650,849 1,779,769 Deferred income tax liability 181,543 — 181,543 120,258 — 120,258 Other non-financial liabilities 28,795,393 — 28,795,393 31,700,398 — 31,700,398 TOTAL LIABILITIES 600,629,001 3,892,263 604,521,264 655,136,695 4,925,116 660,061,811 |
OFFSETTING OF FINANCIAL ASSET_2
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES | |
Summary of Assets and Liabilities Subject to a Master Netting Arrangement Not Offset | Net in Financial Amounts subject to a master Gross Amount Statements netting arrangement not offset 12/31/2022 amount (a) offset (b) (c) = (a) – (b) Financial asset / (Financial liability) Collateral Net amount Debts with businesses for consumption by our customers with credit card - - — (308,168) (8,539,292) (8,847,460) Derivatives instruments 86,965 116,784 203,748 - - — Total 86,965 116,784 203,748 (308,168) (8,539,292) (8,847,460) Net in Financial Amounts subject to a master Gross Amount Statements netting arrangement not offset 12/31/2021 amount (a) offset (b) (c) = (a) – (b) Financial asset / (Financial liability) Collateral Net amount Credit cards transactions — — — (12,246,472) 1,715,975 (10,530,497) Derivatives instruments 308,708 109,106 417,814 — — — Total 308,708 109,106 417,814 (12,246,472) 1,715,975 (10,530,497) |
MINIMUM CAPITAL REQUIREMENTS (T
MINIMUM CAPITAL REQUIREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
MINIMUM CAPITAL REQUIREMENTS | |
Schedule of minimum capital requirement in accordance with the rules of Agrentine Cental Bank | Year ended December 31, (2) 2022 2021 2020 (in thousands of Pesos except percentages and ratios) Calculation of excess capital: Allocated to assets at risk 20,729,624 12,957,481 9,047,140 Allocated to Bank premises and equipment, intangible assets and equity investment assets 3,747,910 2,035,689 1,350,035 Market risk 1,693,962 965,159 551,765 Public sector and securities in investment account, 625,570 34,489 27,651 Operational risk 8,188,453 4,805,957 3,233,793 Required minimum capital under Central Bank rules 34,985,519 20,798,775 14,210,384 Basic net worth 77,619,877 42,938,440 30,242,263 Complementary net worth 2,600,170 1,564,272 1,090,865 Deductions (25,063,540) (11,770,286) (7,028,227) Total capital under Central Bank rules 55,156,507 32,732,426 24,304,901 Excess capital 20,170,988 11,933,651 10,094,517 Risk Weighted Assets (1) 428,238,464 254,513,436 173,834,352 Selected capital and liquidity ratios: Regulatory capital/risk weighted assets 12.9 % 12.9 % 14.0 % Average shareholders’ equity as a percentage of average total assets 12.2 % 12.5 % 11.2 % Total liabilities as a multiple of total shareholders’ equity 8.3x 7.5x 7.5x Cash as a percentage of total deposits 8.7 % 11.1 % 20.3 % Liquid assets as a percentage of total deposits (3) 46.0 % 49.2 % 49.7 % Tier 1 Capital / risk weighted assets 12.3 % 12.2 % 13.4 % (1) Risk Weighted Assets includes operational risk weighted assets, market risk weighted assets, and credit risk weighted assets, Operational risk weighted assets and market risk weighted assets are calculated by multiplying their respective required minimum capital under Central Bank rules by 12.5 , Credit Risk Weighted Assets is calculated by applying the respective credit risk weights to our assets, following Central Bank rules, (2) Nominal values without inflation adjustment, (3) Liquid assets include cash, securities issued by the Central Bank, and Repo transactions with the Central Bank. This ratio does not consider other government securities held by the Company to set Minimum Reserve Requirements. |
ECONOMIC CONTEXT ON GROUP'S O_2
ECONOMIC CONTEXT ON GROUP'S OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
ECONOMIC CONTEXT ON GROUPS OPERATIONS | |
Schedule of group exposure to Argentine public sector | Grupo Supervielle´s Exposure to Public Sector Central Bank of Argentina (including repo transactions) 248,636,378 Treasury Bills 28,559,125 Government Securities 33,482,394 Exposure to Government Securities and Treasury Bonds 310,677,897 Loans to Public Sector 277,702 Total exposure to Public Sector 310,955,599 Over Total Assets 44.62% Over Shareholder´s equity 336.73% |
ACCOUNTING STANDARDS AND BASI_4
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - IAS 29 (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |||
Annual | 94.80% | 50.90% | 36.10% |
Accumulated 3 years | 300.30% | 216.10% | 209.20% |
ACCOUNTING STANDARDS AND BASI_5
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Subsidiaries (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Banco Supervielle S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 99.90% | 99.90% | 99.90% |
Proportion of voting rights held in subsidiary | 99.87% | 99.87% | 99.87% |
Cordial Compania Financiera S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 99.90% | 99.90% | 99.90% |
Tarjeta Automtica S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 99.91% | 99.99% | 99.99% |
Supervielle asset management S.A.[member] | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
SofitalS.A.F. e I.I. [member] | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Espacio Cordial Servicios S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Supervielle Seguros S.A. [member] | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Micro Lending S.A.U. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
InvertirOnline S.A.U. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Portal Integral de Inversiones S.A.U. {Member] | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
IOL Holding S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | |
Supervielle Productores Asesores de Seguros S.A | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Bolsillo Digital S.A.U. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Supervielle Agente de Negociacin S.A.U. [Member] | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
Easy Cambio S.A. | |||
Subsidiaries included in the consolidation | |||
Percentage of direct and indirect investment in capital stock | 100% | 100% | 100% |
ACCOUNTING STANDARDS AND BASI_6
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Cash and Cash Equivalents (Detail) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |||
Cash and due from banks | $ 48,399,468 | $ 63,452,161 | $ 107,832,923 |
Debt securities at fair value through profit or loss | 5,610,509 | 20,265,790 | 5,494,141 |
Money Market Funds | 390,860 | 3,410,049 | 2,713,997 |
Cash and cash equivalents | $ 54,400,837 | $ 87,128,000 | $ 116,041,061 |
ACCOUNTING STANDARDS AND BASI_7
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Reconciliation Of Statement of Financial Position and Statement of Cash Flow (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and due from Banks | |||
Cash and due from banks | $ 48,399,468 | $ 63,452,161 | $ 107,832,923 |
As per the Statement of Cash Flows | 48,399,468 | 63,452,161 | 107,832,923 |
Debt securities at fair value through profit or loss | |||
As per Statement of Financial Position | 22,384,677 | 38,486,623 | 29,025,766 |
Securities not considered as cash equivalents | (16,774,168) | (18,220,833) | (23,531,625) |
As per the Statement of Cash Flows | 5,610,509 | 20,265,790 | 5,494,141 |
Money Market Funds | |||
As per Statement of Financial Position - Other financial assets | 8,107,119 | 27,120,979 | 12,599,580 |
Other financial assets not considered as cash equivalents | (7,716,259) | (23,710,930) | (9,885,583) |
As per the Statement of Cash Flow | $ 390,860 | $ 3,410,049 | $ 2,713,997 |
ACCOUNTING STANDARDS AND BASI_8
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Financing Activities (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of financing activities | |||
Beginning of year | $ 16,888,672 | $ 36,462,525 | $ 72,733,371 |
Inflows | 167,932,069 | 67,404,466 | 51,534,192 |
Outflows | (178,629,397) | (90,877,115) | (91,805,608) |
Other non-cash movements | 1,468,203 | 3,898,796 | 4,000,570 |
End of year | 7,659,547 | 16,888,672 | 36,462,525 |
Unsubordinated debt securities | |||
Reconciliation of financing activities | |||
Beginning of year | 2,063,327 | 12,427,653 | 24,363,308 |
Inflows | 4,386,933 | 7,802,825 | |
Outflows | (1,501,918) | (14,751,259) | (19,951,590) |
Other non-cash movements | 213,110 | ||
End of year | 561,409 | 2,063,327 | 12,427,653 |
Subordinated debt securities | |||
Reconciliation of financing activities | |||
Beginning of year | 3,353,254 | 8,485,616 | |
Outflows | (3,353,254) | (5,216,762) | |
Other non-cash movements | 84,400 | ||
End of year | 3,353,254 | ||
Financing received from the Argentine Central Bank and other financial institutions | |||
Reconciliation of financing activities | |||
Beginning of year | 12,179,537 | 17,207,143 | 36,096,182 |
Inflows | 167,932,069 | 63,017,533 | 43,731,367 |
Outflows | (174,581,930) | (68,045,139) | (62,620,406) |
End of year | 5,529,676 | 12,179,537 | 17,207,143 |
Lease Liabilities | |||
Reconciliation of financing activities | |||
Beginning of year | 2,645,808 | 3,474,475 | 3,788,265 |
Outflows | (2,545,549) | (4,727,463) | (4,016,850) |
Other non-cash movements | 1,468,203 | 3,898,796 | 3,703,060 |
End of year | $ 1,568,462 | $ 2,645,808 | $ 3,474,475 |
ACCOUNTING STANDARDS AND BASI_9
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Allowance for Loan Losses (Details) | 12 Months Ended | |
Dec. 31, 2022 item segment | Dec. 31, 2021 item | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
BCRA threshold credit risk situation | 2 | |
Number of segments | segment | 3 | |
Number of scenarios considered to estimate credit losses captured non linealrities | 3 | 3 |
Minimum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Behavior rating probability of default | 30% | |
Minimum | Corporate Banking | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 31 days | |
Maximum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Number of notes | 2 | |
Maximum | Corporate Banking | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 90 days | |
Consumer [member] | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Period past for financial instruments in default and credit impaired | 90 days | |
Consumer [member] | Minimum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 31 years | |
Consumer [member] | Maximum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 90 days | |
Personal and Business Banking | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Probably of default that raises significant increase in credit risk | 30% | |
Period past for financial instruments in default and credit impaired | 90 days | |
Personal and Business Banking | Minimum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 31 days | |
Personal and Business Banking | Maximum | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Past due accounts that raises significant increase in credit risk | 90 days | |
Corporate Banking | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Period past for financial instruments in default and credit impaired | 90 days |
ACCOUNTING STANDARDS AND BAS_10
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Assumptions utilized to calculate ECL (Detail) | Dec. 31, 2022 |
Personal and Business Banking | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 30% |
Personal and Business Banking | Open Market | Private Sector Wage | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 74% |
Personal and Business Banking | Open Market | Private Sector Wage | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 81% |
Personal and Business Banking | Open Market | Private Sector Wage | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 66% |
Personal and Business Banking | Open Market | Exchange Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 30.50% |
Personal and Business Banking | Open Market | Exchange Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 19.40% |
Personal and Business Banking | Open Market | Exchange Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 42.60% |
Personal and Business Banking | Income Payroll | Private Sector Wage | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | (9.00%) |
Personal and Business Banking | Income Payroll | Private Sector Wage | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 2.30% |
Personal and Business Banking | Income Payroll | Private Sector Wage | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | (19.00%) |
Personal and Business Banking | Income Payroll | Exchange Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 30.50% |
Personal and Business Banking | Income Payroll | Exchange Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 19.40% |
Personal and Business Banking | Income Payroll | Exchange Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 42.60% |
Personal and Business Banking | Senior Citizens | Private Sector Wage | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 74.40% |
Personal and Business Banking | Senior Citizens | Private Sector Wage | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 89.30% |
Personal and Business Banking | Senior Citizens | Private Sector Wage | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 59.60% |
Corporate Banking | All | Inflation Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 91% |
Corporate Banking | All | Inflation Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 79.30% |
Corporate Banking | All | Inflation Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 103.40% |
Corporate Banking | All | Monthly Economic Activity Estimator | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 144% |
Corporate Banking | All | Monthly Economic Activity Estimator | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 150% |
Corporate Banking | All | Monthly Economic Activity Estimator | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 138% |
Corporate Banking | All | Interest Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 86.10% |
Corporate Banking | All | Interest Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 77.50% |
Corporate Banking | All | Interest Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 94.70% |
Consumer finance | Consumer Finance | Inflation Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 91% |
Consumer finance | Consumer Finance | Inflation Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 79.30% |
Consumer finance | Consumer Finance | Inflation Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 103.40% |
Consumer finance | Consumer Finance | Private Sector Wage | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | (9.00%) |
Consumer finance | Consumer Finance | Private Sector Wage | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 2.30% |
Consumer finance | Consumer Finance | Private Sector Wage | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | (19.00%) |
Consumer finance | Consumer Finance | Quantity of Private Sector Employment | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 74% |
Consumer finance | Consumer Finance | Quantity of Private Sector Employment | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 81% |
Consumer finance | Consumer Finance | Quantity of Private Sector Employment | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 66% |
Consumer finance | Consumer Finance | Interest Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 86.10% |
Consumer finance | Consumer Finance | Interest Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 77.50% |
Consumer finance | Consumer Finance | Interest Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 94.70% |
Consumer finance | Consumer Finance | Loans | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 83% |
Consumer finance | Consumer Finance | Loans | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 91% |
Consumer finance | Consumer Finance | Loans | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 74% |
Consumer finance | Consumer Finance Automobile secured | Inflation Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 91% |
Consumer finance | Consumer Finance Automobile secured | Inflation Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 79.30% |
Consumer finance | Consumer Finance Automobile secured | Inflation Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 103.40% |
Consumer finance | Consumer Finance Automobile secured | Monthly Economic Activity Estimator | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 144% |
Loss given default | 144% |
Consumer finance | Consumer Finance Automobile secured | Monthly Economic Activity Estimator | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 150% |
Loss given default | 150% |
Consumer finance | Consumer Finance Automobile secured | Monthly Economic Activity Estimator | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 138% |
Loss given default | 138% |
Consumer finance | Consumer Finance Automobile secured | Exchange Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 30.50% |
Consumer finance | Consumer Finance Automobile secured | Exchange Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 91% |
Consumer finance | Consumer Finance Automobile secured | Exchange Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probably of default | 74% |
Supervielle Bank | All | Inflation Rate | Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 91% |
Supervielle Bank | All | Inflation Rate | Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 79.30% |
Supervielle Bank | All | Inflation Rate | Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Loss given default | 103.40% |
ACCOUNTING STANDARDS AND BAS_11
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Probabilities (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Scenario one [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probability of occurrences | 60% |
Scenario Two [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probability of occurrences | 20% |
Scenario Three [member] | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | |
Probability of occurrences | 20% |
ACCOUNTING STANDARDS AND BAS_12
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - ECL Sensitivity (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Reported ECL allowance | $ 12,222,052 | |
Financial assets | $ 621,065,731 | $ 686,714,111 |
Reported Provision Ratio | 4.93% | |
Favorable [member] | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Reported ECL allowance | $ 11,814,479 | |
Reported Provision Ratio | 4.77% | |
Unfavorable [member] | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Reported ECL allowance | $ 12,984,448 | |
Reported Provision Ratio | 5.24% | |
Gross carrying amount | ||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||
Financial assets | $ 247,813,250 |
ACCOUNTING STANDARDS AND BAS_13
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Useful Life for Property, Plant and Equipment (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Estimated useful life | 50 years | |
Furnitures [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Estimated useful life | 10 years | |
Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Estimated useful life | 5 years | 5 years |
Vehicles [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Estimated useful life | 5 years | 5 years |
ACCOUNTING STANDARDS AND BAS_14
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Movement in investment properties (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | ||
Income derived from rents (rents charged) | $ 73,402 | $ 33,795 |
Direct operating expenses of properties that generated income derived from rents | (5,670) | (14,262) |
Fair value remeasurement | (803,858) | (859,077) |
Income or loss from investment property | $ (736,126) | $ (839,544) |
ACCOUNTING STANDARDS AND BAS_15
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Software (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Computer software [member] | Maximum | |
Software | |
Estimated useful life | 5 years |
ACCOUNTING STANDARDS AND BAS_16
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Reserves (Detail) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Current income required to be appropriate to legal reserve (as a percent) | 5% | |||
Required legal reserve, as percent to capital stock and capital adjustment | 20% | |||
Current year net income post previous years' adjustments to legal reserve (as a percent) | 20% | |||
Equity | $ 92,346,033 | $ 100,416,698 | $ 104,906,281 | $ 93,808,632 |
Argentine Central Bank [member] | ||||
Equity | 92,840,716 | |||
Cost of treasury shares | ||||
Equity | (123,776) | |||
Cost of treasury shares | Argentine Central Bank [member] | ||||
Equity | (1,383,270) | |||
Other reserves. | ||||
Equity | 5,164,440 | $ 7,993,828 | $ 41,310,811 | |
Other reserves. | Argentine Central Bank [member] | ||||
Equity | $ 5,164,443 |
ACCOUNTING STANDARDS AND BAS_17
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 ARS ($) | |
Minimum | |
Disclosure of financial trust [line items] | |
Proportion of ownership interest in associate | 20% |
Maximum | |
Disclosure of financial trust [line items] | |
Proportion of ownership interest in associate | 50% |
Micro Lending Trust Financial Trust, III | |
Disclosure of financial trust [line items] | |
Securitized Amount | $ 39,779 |
Micro Lending Financial Trusts, IV | |
Disclosure of financial trust [line items] | |
Securitized Amount | $ 40,652 |
ACCOUNTING STANDARDS AND BAS_18
ACCOUNTING STANDARDS AND BASIS OF PREPARATION - Earnings per share (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2022 shares | |
ACCOUNTING STANDARDS AND BASIS OF PREPARATION | |
Weighted average of number of ordinary shares issued with dilution effect | 0 |
CRITICAL ACCOUNTING POLICIES _2
CRITICAL ACCOUNTING POLICIES AND ESTIMATES (Details) | Dec. 31, 2022 item |
CRITICAL ACCOUNTING POLICIES AND ESTIMATES | |
Weighted average of number of scenarios considered for economic outlook | 3 |
SEGMENT REPORTING (Details)
SEGMENT REPORTING (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Cash and due from banks | $ 48,399,468 | $ 63,452,161 | $ 107,832,923 |
Debt Securities at fair value through profit or loss | 22,384,677 | 38,486,623 | 29,025,766 |
Loans and other financing | 235,591,198 | 302,853,393 | |
Other Assets | 390,491,954 | 355,686,332 | |
TOTAL ASSETS | 696,867,297 | 760,478,509 | |
Deposits | 547,516,935 | 561,896,707 | |
Financing received from the Argentine Central Bank and others | 5,529,676 | 12,179,537 | |
Negotiable obligations | 561,409 | 2,063,327 | |
Other liabilities | 50,913,244 | 83,922,240 | |
TOTAL LIABILITIES | 604,521,264 | 660,061,811 | |
Interest income | 251,873,826 | 201,478,253 | 190,233,183 |
Interest Expense | (165,506,341) | (117,848,917) | (84,027,323) |
Net interest income | 86,367,485 | 83,629,336 | 106,205,860 |
Net income from financial instruments at fair value through profit or loss | 18,246,719 | 17,316,082 | 9,748,608 |
Result from derecognition of assets measured at amortized cost | 491,837 | 495,139 | 1,931,793 |
Exchange rate differences on gold and foreign currency | 2,742,959 | 1,933,094 | 3,130,019 |
Net Income From Financial instruments And Exchange Rate Differences | 21,481,515 | 19,744,315 | 14,810,420 |
Net Financial Income | 107,849,000 | 103,373,651 | 121,016,280 |
Services Fee Income | 30,339,068 | 32,462,798 | 33,794,603 |
Services Fee Expenses | (10,723,155) | (9,896,431) | (10,432,762) |
Income from insurance activities | 4,526,372 | 4,424,232 | 4,914,478 |
Net Service Fee Income | 24,142,285 | 26,990,599 | 28,276,319 |
Subtotal | 131,991,285 | 130,364,250 | 149,292,599 |
Result from exposure to changes in the purchasing power of money | (17,749,063) | (15,208,972) | (12,614,594) |
Other operating income | 10,491,417 | 10,473,784 | 11,112,493 |
Loan loss provisions | (14,171,016) | (17,394,877) | (25,330,344) |
Net operating income | 110,562,623 | 108,234,185 | 122,460,154 |
Personnel expenses | (53,892,546) | (49,850,151) | (53,444,350) |
Administration expenses | (28,562,821) | (29,911,621) | (30,339,034) |
Depreciations and impairment non-financial assets | (10,098,597) | (8,230,289) | (7,077,240) |
Other operating expenses | (26,629,090) | (23,079,185) | (19,331,429) |
Operating income (loss) | (8,620,431) | (2,837,061) | 12,268,101 |
Result before taxes | (8,620,431) | (2,837,061) | 12,268,101 |
Income tax | 3,586,014 | (545,241) | (1,974,983) |
Net (loss) / income | (5,034,417) | (3,382,302) | 10,293,118 |
Net (loss) / income for the year attributable to owners of the parent | (5,028,955) | (3,378,763) | 10,290,495 |
Net (Loss) / income for the year attributable to non-controlling interests | (5,462) | (3,539) | 2,623 |
Other comprehensive (loss) / income | (1,161,177) | (104,659) | 2,363,048 |
Other comprehensive (loss) / income attributable to owners of the parent company | (1,159,949) | (104,525) | 2,360,761 |
Other comprehensive (loss) / income attributable to non-controlling interest | (1,228) | (134) | 2,287 |
Comprehensive (loss) / income for the year | (6,195,594) | (3,486,961) | 12,656,166 |
Comprehensive (loss) / income attributable to owners of the parent company | (6,188,904) | (3,483,288) | 12,651,256 |
Comprehensive income (loss) attributable to non-controlling interest | (6,690) | (3,673) | 4,910 |
Adjustments | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | (48,748) | 368,897 | |
Loans and other financing | (1,440,712) | (10,781,119) | |
Other Assets | 12,267,797 | 46,018,231 | |
TOTAL ASSETS | 10,778,337 | 35,606,009 | |
Deposits | (419,671) | (1,188,314) | |
Financing received from the Argentine Central Bank and others | (732,287) | (9,602,838) | |
Negotiable obligations | 1 | ||
Other liabilities | 18,304,932 | 15,418,895 | |
TOTAL LIABILITIES | 17,152,974 | 4,627,744 | |
Interest income | (3,300,356) | (3,122,784) | (1,118,488) |
Interest Expense | 4,609,359 | 3,154,025 | 1,370,976 |
Net interest income | 1,309,003 | 31,241 | 252,488 |
Net income from financial instruments at fair value through profit or loss | 544,846 | 281,596 | 1,002,156 |
Result from derecognition of assets measured at amortized cost | (6,047) | (46,035) | (93,423) |
Exchange rate differences on gold and foreign currency | 425,118 | 177,381 | 289,825 |
Net Income From Financial instruments And Exchange Rate Differences | 963,917 | 412,942 | 1,198,558 |
Net Financial Income | 2,272,920 | 444,183 | 1,451,046 |
Services Fee Income | (312,866) | (670,493) | (1,234,915) |
Services Fee Expenses | 641,103 | 312,239 | (87,257) |
Income from insurance activities | 491,519 | 575,278 | 638,770 |
Net Service Fee Income | 819,756 | 217,024 | (683,402) |
Subtotal | 3,092,676 | 661,207 | 767,644 |
Result from exposure to changes in the purchasing power of money | (2,574,753) | (1,224,273) | (432,079) |
Other operating income | (1,295,684) | (452,241) | (390,201) |
Loan loss provisions | (9,777) | ||
Net operating income | (787,538) | (1,015,307) | (54,636) |
Personnel expenses | (47,751) | (70,926) | (347,178) |
Administration expenses | 355,037 | 379,646 | 791,419 |
Depreciations and impairment non-financial assets | 316,009 | (182,620) | (185,037) |
Other operating expenses | 9,779 | (78,053) | (117,669) |
Operating income (loss) | (154,464) | (967,260) | 86,899 |
Income from associates and joint ventures | 10,673 | (10,544) | (18,983) |
Result before taxes | (143,791) | (977,804) | 67,916 |
Income tax | 160,253 | (122,826) | 1,548,996 |
Net (loss) / income | 16,462 | (1,100,630) | 1,616,912 |
Net (loss) / income for the year attributable to owners of the parent | 21,924 | (1,097,091) | 1,614,289 |
Net (Loss) / income for the year attributable to non-controlling interests | (5,462) | (3,539) | 2,623 |
Other comprehensive (loss) / income | (38,994) | 26,540 | (34,208) |
Other comprehensive (loss) / income attributable to owners of the parent company | (37,766) | 26,674 | (36,495) |
Other comprehensive (loss) / income attributable to non-controlling interest | (1,228) | (134) | 2,287 |
Comprehensive (loss) / income for the year | (22,532) | (1,074,090) | 1,582,704 |
Comprehensive (loss) / income attributable to owners of the parent company | (15,842) | (1,070,417) | 1,577,794 |
Comprehensive income (loss) attributable to non-controlling interest | (6,690) | (3,673) | 4,910 |
Personal and Business Banking | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 18,640,425 | 23,591,677 | |
Debt Securities at fair value through profit or loss | 72,941 | ||
Loans and other financing | 143,638,954 | 148,658,868 | |
Other Assets | 15,972,688 | 12,875,007 | |
TOTAL ASSETS | 178,325,008 | 185,125,552 | |
Deposits | 245,102,232 | 270,137,000 | |
Financing received from the Argentine Central Bank and others | 35,406 | 29,895 | |
Negotiable obligations | 12,874 | 26,287 | |
Other liabilities | 18,799,427 | 27,698,342 | |
TOTAL LIABILITIES | 263,949,939 | 297,891,524 | |
Interest income | 68,595,988 | 59,843,799 | 64,781,126 |
Interest Expense | (50,693,775) | (31,627,176) | (24,056,798) |
Distribution of results by Treasury | 16,496,028 | 10,001,101 | 10,025,101 |
Net interest income | 34,398,241 | 38,217,724 | 50,749,429 |
Exchange rate differences on gold and foreign currency | 632,202 | 616,744 | 1,115,162 |
Net Income From Financial instruments And Exchange Rate Differences | 632,202 | 616,744 | 1,115,162 |
Net Financial Income | 35,030,443 | 38,834,468 | 51,864,591 |
Services Fee Income | 20,028,687 | 20,509,780 | 21,947,149 |
Services Fee Expenses | (7,491,247) | (6,710,658) | (7,213,591) |
Net Service Fee Income | 12,537,440 | 13,799,122 | 14,733,558 |
Subtotal | 47,567,883 | 52,633,590 | 66,598,149 |
Result from exposure to changes in the purchasing power of money | 12,477,842 | 5,798,882 | 4,277,047 |
Other operating income | 3,843,533 | 2,543,257 | 4,503,007 |
Loan loss provisions | (9,801,914) | (8,080,660) | (12,835,377) |
Net operating income | 54,087,344 | 52,895,069 | 62,542,826 |
Personnel expenses | (36,872,521) | (35,503,440) | (39,060,155) |
Administration expenses | (20,593,305) | (21,573,090) | (21,849,322) |
Depreciations and impairment non-financial assets | (7,512,248) | (6,446,388) | (5,658,084) |
Other operating expenses | (11,041,216) | (10,177,556) | (11,274,663) |
Operating income (loss) | (21,931,946) | (20,805,405) | (15,299,398) |
Result before taxes | (21,931,946) | (20,805,405) | (15,299,398) |
Income tax | 7,579,721 | 7,248,314 | 4,059,222 |
Net (loss) / income | (14,352,225) | (13,557,091) | (11,240,176) |
Net (loss) / income for the year attributable to owners of the parent | (14,352,225) | (13,557,091) | (11,240,174) |
Other comprehensive (loss) / income | (137,100) | (45,245) | 647,294 |
Other comprehensive (loss) / income attributable to owners of the parent company | (137,100) | (45,245) | 647,294 |
Comprehensive (loss) / income for the year | (14,489,325) | (13,602,336) | (10,592,882) |
Comprehensive (loss) / income attributable to owners of the parent company | (14,489,325) | (13,602,336) | (10,592,880) |
Corporate Banking | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 764,338 | 1,075,554 | |
Debt Securities at fair value through profit or loss | 1,617,976 | ||
Loans and other financing | 82,383,817 | 121,086,352 | |
Other Assets | 5,171,074 | 6,715,094 | |
TOTAL ASSETS | 89,937,205 | 128,877,000 | |
Deposits | 63,585,543 | 60,528,871 | |
Financing received from the Argentine Central Bank and others | 88 | ||
Negotiable obligations | 4,373 | 16,289 | |
Other liabilities | 3,879,023 | 8,389,824 | |
TOTAL LIABILITIES | 67,469,027 | 68,934,984 | |
Interest income | 35,920,437 | 37,890,661 | 38,167,889 |
Interest Expense | (10,624,629) | (5,920,482) | (3,156,957) |
Distribution of results by Treasury | (10,976,718) | (17,873,258) | (18,788,017) |
Net interest income | 14,319,090 | 14,096,921 | 16,222,915 |
Exchange rate differences on gold and foreign currency | 146,828 | 168,636 | 154,672 |
Net Income From Financial instruments And Exchange Rate Differences | 146,828 | 168,636 | 154,672 |
Net Financial Income | 14,465,918 | 14,265,557 | 16,377,587 |
Services Fee Income | 2,213,741 | 2,022,791 | 1,976,670 |
Services Fee Expenses | (600,059) | (662,829) | (565,596) |
Net Service Fee Income | 1,613,682 | 1,359,962 | 1,411,074 |
Subtotal | 16,079,600 | 15,625,519 | 17,788,661 |
Result from exposure to changes in the purchasing power of money | (5,988,253) | (3,614,993) | (2,666,286) |
Other operating income | 3,531,800 | 2,649,074 | 4,465,178 |
Loan loss provisions | (495,474) | (1,608,512) | (9,908,962) |
Net operating income | 13,127,673 | 13,051,088 | 9,678,591 |
Personnel expenses | (5,481,914) | (3,736,681) | (3,737,283) |
Administration expenses | (1,768,577) | (1,561,632) | (1,496,356) |
Depreciations and impairment non-financial assets | (1,021,736) | (612,169) | (423,852) |
Other operating expenses | (3,340,741) | (4,193,085) | (3,691,407) |
Operating income (loss) | 1,514,705 | 2,947,521 | 329,693 |
Result before taxes | 1,514,705 | 2,947,521 | 329,693 |
Income tax | (98,749) | (989,201) | 221,470 |
Net (loss) / income | 1,415,956 | 1,958,320 | 551,163 |
Net (loss) / income for the year attributable to owners of the parent | 1,415,956 | 1,958,320 | 551,163 |
Other comprehensive (loss) / income | (48,338) | (28,031) | 340,978 |
Other comprehensive (loss) / income attributable to owners of the parent company | (48,338) | (28,031) | 340,978 |
Comprehensive (loss) / income for the year | 1,367,618 | 1,930,289 | 892,141 |
Comprehensive (loss) / income attributable to owners of the parent company | 1,367,618 | 1,930,289 | 892,141 |
Treasury [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 28,448,336 | 36,471,307 | |
Debt Securities at fair value through profit or loss | 19,876,879 | 36,896,690 | |
Loans and other financing | 8,442,170 | 20,186,470 | |
Other Assets | 337,729,730 | 272,683,855 | |
TOTAL ASSETS | 394,497,115 | 366,238,322 | |
Deposits | 235,204,847 | 219,175,414 | |
Financing received from the Argentine Central Bank and others | 5,494,188 | 11,417,648 | |
Negotiable obligations | 544,162 | 2,020,750 | |
Other liabilities | 5,374,177 | 20,723,982 | |
TOTAL LIABILITIES | 246,617,374 | 253,337,794 | |
Interest income | 139,048,123 | 91,405,063 | 75,243,701 |
Interest Expense | (100,741,944) | (75,986,668) | (54,086,014) |
Distribution of results by Treasury | (5,519,310) | 7,872,157 | 8,762,916 |
Net interest income | 32,786,869 | 23,290,552 | 29,920,603 |
Net income from financial instruments at fair value through profit or loss | 13,918,206 | 14,369,613 | 6,806,796 |
Result from derecognition of assets measured at amortized cost | 497,884 | 541,174 | 2,025,216 |
Exchange rate differences on gold and foreign currency | 1,481,454 | 782,484 | 1,244,489 |
Net Income From Financial instruments And Exchange Rate Differences | 15,897,544 | 15,693,271 | 10,076,501 |
Net Financial Income | 48,684,413 | 38,983,823 | 39,997,104 |
Services Fee Income | 174,848 | 120,104 | 175,339 |
Services Fee Expenses | (345,765) | (331,413) | (175,705) |
Net Service Fee Income | (170,917) | (211,309) | (366) |
Subtotal | 48,513,496 | 38,772,514 | 39,996,738 |
Result from exposure to changes in the purchasing power of money | (19,419,563) | (12,530,796) | (9,319,586) |
Other operating income | 1,464,910 | 4,035,567 | 744,698 |
Loan loss provisions | (417,613) | (61,599) | (12,046) |
Net operating income | 30,141,230 | 30,215,686 | 31,409,804 |
Personnel expenses | (2,846,491) | (2,147,250) | (2,736,205) |
Administration expenses | (1,370,603) | (1,521,346) | (1,359,438) |
Depreciations and impairment non-financial assets | (448,352) | (410,667) | (319,011) |
Other operating expenses | (8,467,679) | (6,107,245) | (2,165,681) |
Operating income (loss) | 17,008,105 | 20,029,178 | 24,829,469 |
Result before taxes | 17,008,105 | 20,029,178 | 24,829,469 |
Income tax | (6,282,238) | (6,488,444) | (6,527,266) |
Net (loss) / income | 10,725,867 | 13,540,734 | 18,302,203 |
Net (loss) / income for the year attributable to owners of the parent | 10,725,867 | 13,540,734 | 18,302,203 |
Other comprehensive (loss) / income | (1,013,981) | (56,433) | 1,408,984 |
Other comprehensive (loss) / income attributable to owners of the parent company | (1,013,981) | (56,433) | 1,408,984 |
Comprehensive (loss) / income for the year | 9,711,886 | 13,484,301 | 19,711,187 |
Comprehensive (loss) / income attributable to owners of the parent company | 9,711,886 | 13,484,301 | 19,711,187 |
Consumer finance | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 220,055 | 1,426,096 | |
Debt Securities at fair value through profit or loss | 788,425 | 1,585,480 | |
Loans and other financing | 623,026 | 21,821,056 | |
Other Assets | 13,734,555 | 10,012,771 | |
TOTAL ASSETS | 15,366,061 | 34,845,403 | |
Deposits | 3,974,142 | 13,096,133 | |
Financing received from the Argentine Central Bank and others | 607,575 | 10,334,832 | |
Other liabilities | 1,394,727 | 7,196,198 | |
TOTAL LIABILITIES | 5,976,444 | 30,627,163 | |
Interest income | 11,576,426 | 15,443,759 | 13,034,272 |
Interest Expense | (8,055,352) | (7,468,616) | (4,020,358) |
Net interest income | 3,521,074 | 7,975,143 | 9,013,914 |
Net income from financial instruments at fair value through profit or loss | 1,061,264 | 713,660 | 421,821 |
Exchange rate differences on gold and foreign currency | (33,944) | 27,957 | 111,055 |
Net Income From Financial instruments And Exchange Rate Differences | 1,027,320 | 741,617 | 532,876 |
Net Financial Income | 4,548,394 | 8,716,760 | 9,546,790 |
Services Fee Income | 4,127,207 | 5,255,006 | 6,272,126 |
Services Fee Expenses | (2,734,783) | (2,233,900) | (2,241,384) |
Net Service Fee Income | 1,392,424 | 3,021,106 | 4,030,742 |
Subtotal | 5,940,818 | 11,737,866 | 13,577,532 |
Result from exposure to changes in the purchasing power of money | 771,200 | (1,362,331) | (2,608,388) |
Other operating income | 2,645,420 | 1,510,787 | 1,071,797 |
Loan loss provisions | (3,432,836) | (7,644,106) | (2,607,981) |
Net operating income | 5,924,602 | 4,242,216 | 9,432,960 |
Personnel expenses | (5,302,630) | (5,104,614) | (5,039,007) |
Administration expenses | (3,447,004) | (3,426,780) | (4,301,762) |
Depreciations and impairment non-financial assets | (1,253,319) | (398,446) | (399,351) |
Other operating expenses | (3,383,143) | (2,089,710) | (1,771,245) |
Operating income (loss) | (7,461,494) | (6,777,334) | (2,078,405) |
Income from associates and joint ventures | (10,673) | 10,544 | 18,983 |
Result before taxes | (7,472,167) | (6,766,790) | (2,059,422) |
Income tax | 3,290,139 | 657,020 | 361,314 |
Net (loss) / income | (4,182,028) | (6,109,770) | (1,698,108) |
Net (loss) / income for the year attributable to owners of the parent | (4,182,028) | (6,109,770) | (1,698,108) |
Comprehensive (loss) / income for the year | (4,182,028) | (6,109,770) | (1,698,108) |
Comprehensive (loss) / income attributable to owners of the parent company | (4,182,028) | (6,109,770) | (1,698,108) |
Insurance [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 2,026 | 8,221 | |
Loans and other financing | 1,760,652 | 1,683,684 | |
Other Assets | 3,307,334 | 4,538,529 | |
TOTAL ASSETS | 5,070,012 | 6,230,434 | |
Other liabilities | 2,125,228 | 3,101,869 | |
TOTAL LIABILITIES | 2,125,228 | 3,101,869 | |
Interest income | 4,659 | 2,770 | |
Net interest income | 4,659 | 2,770 | |
Net income from financial instruments at fair value through profit or loss | 1,430,703 | 1,119,260 | 1,039,413 |
Exchange rate differences on gold and foreign currency | 20 | 1,270 | (288) |
Net Income From Financial instruments And Exchange Rate Differences | 1,430,723 | 1,120,530 | 1,039,125 |
Net Financial Income | 1,435,382 | 1,123,300 | 1,039,125 |
Income from insurance activities | 4,034,853 | 3,848,954 | 4,275,708 |
Net Service Fee Income | 4,034,853 | 3,848,954 | 4,275,708 |
Subtotal | 5,470,235 | 4,972,254 | 5,314,833 |
Result from exposure to changes in the purchasing power of money | (1,931,871) | (1,394,082) | (1,120,423) |
Other operating income | 24,084 | 29,252 | 30,867 |
Loan loss provisions | (11,988) | ||
Net operating income | 3,550,460 | 3,607,424 | 4,225,277 |
Personnel expenses | (1,156,099) | (1,102,816) | (934,435) |
Administration expenses | (811,520) | (958,441) | (776,477) |
Depreciations and impairment non-financial assets | (108,499) | (92,870) | (61,042) |
Other operating expenses | (467) | (31,796) | (5,369) |
Operating income (loss) | 1,473,875 | 1,421,501 | 2,447,954 |
Result before taxes | 1,473,875 | 1,421,501 | 2,447,954 |
Income tax | (614,072) | (369,795) | (865,969) |
Net (loss) / income | 859,803 | 1,051,706 | 1,581,985 |
Net (loss) / income for the year attributable to owners of the parent | 859,803 | 1,051,706 | 1,581,986 |
Other comprehensive (loss) / income | 16,184 | (2,279) | |
Other comprehensive (loss) / income attributable to owners of the parent company | 16,184 | (2,279) | |
Comprehensive (loss) / income for the year | 875,987 | 1,049,427 | 1,581,985 |
Comprehensive (loss) / income attributable to owners of the parent company | 875,987 | 1,049,427 | 1,581,986 |
Asset Management and Other Services | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Cash and due from banks | 373,036 | 510,409 | |
Debt Securities at fair value through profit or loss | 28,456 | 4,453 | |
Loans and other financing | 183,291 | 198,082 | |
Other Assets | 2,308,776 | 2,842,845 | |
TOTAL ASSETS | 2,893,559 | 3,555,789 | |
Deposits | 69,842 | 147,603 | |
Financing received from the Argentine Central Bank and others | 124,706 | ||
Other liabilities | 1,035,730 | 1,393,130 | |
TOTAL LIABILITIES | 1,230,278 | 1,540,733 | |
Interest income | 28,549 | 14,985 | 124,683 |
Interest Expense | (78,172) | ||
Net interest income | 28,549 | 14,985 | 46,511 |
Net income from financial instruments at fair value through profit or loss | 1,291,700 | 831,953 | 478,422 |
Exchange rate differences on gold and foreign currency | 91,281 | 158,622 | 215,104 |
Net Income From Financial instruments And Exchange Rate Differences | 1,382,981 | 990,575 | 693,526 |
Net Financial Income | 1,411,530 | 1,005,560 | 740,037 |
Services Fee Income | 4,107,451 | 5,225,610 | 4,658,234 |
Services Fee Expenses | (192,404) | (269,870) | (149,229) |
Net Service Fee Income | 3,915,047 | 4,955,740 | 4,509,005 |
Subtotal | 5,326,577 | 5,961,300 | 5,249,042 |
Result from exposure to changes in the purchasing power of money | (1,083,665) | (881,379) | (744,879) |
Other operating income | 277,354 | 158,088 | 687,147 |
Loan loss provisions | (1,414) | 34,022 | |
Net operating income | 4,518,852 | 5,238,009 | 5,225,332 |
Personnel expenses | (2,185,140) | (2,184,424) | (1,590,087) |
Administration expenses | (926,849) | (1,249,978) | (1,347,098) |
Depreciations and impairment non-financial assets | (70,452) | (87,129) | (30,863) |
Other operating expenses | (405,623) | (401,740) | (305,395) |
Operating income (loss) | 930,788 | 1,314,738 | 1,951,889 |
Result before taxes | 930,788 | 1,314,738 | 1,951,889 |
Income tax | (449,040) | (480,309) | (772,750) |
Net (loss) / income | 481,748 | 834,429 | 1,179,139 |
Net (loss) / income for the year attributable to owners of the parent | 481,748 | 834,429 | 1,179,136 |
Other comprehensive (loss) / income | 61,052 | 789 | |
Other comprehensive (loss) / income attributable to owners of the parent company | 61,052 | 789 | |
Comprehensive (loss) / income for the year | 542,800 | 835,218 | 1,179,139 |
Comprehensive (loss) / income attributable to owners of the parent company | $ 542,800 | $ 835,218 | $ 1,179,136 |
SEGMENT REPORTING - Additional
SEGMENT REPORTING - Additional Information (Details) - ARS ($) | 12 Months Ended | |||
Jan. 01, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | ||||
Annual sales | $ 110,562,623,000 | $ 108,234,185,000 | $ 122,460,154,000 | |
Small companies, individuals and companies | Maximum | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | $ 3,000,000 | |||
Small and Medium Size Companies | Minimum | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | 3,000,000 | |||
Small and Medium Size Companies | Maximum | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | 5,000,000 | |||
Megras | Minimum | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | 5,000,000 | |||
Megras | Maximum | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | 7,000,000 | |||
Grandes companies | ||||
Disclosure of operating segments [line items] | ||||
Annual sales | $ 7,000,000 |
INCOME TAX - Paragraphs (Detail
INCOME TAX - Paragraphs (Details) $ in Thousands | 12 Months Ended | |||||
Jan. 01, 2019 | Dec. 31, 2022 USD ($) | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2022 ARS ($) | Jun. 16, 2021 item | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Inflation adjustment allocation | 100% | |||||
Inflation adjustment allocated to first year (as a percent) | 16.67% | |||||
Number of tiered tax structures | item | 3 | |||||
Applicable tax rate | 34% | 28% | 30% | |||
Dividend tax rate | 7% | |||||
Income Up To AR$5 Million [Member] | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Applicable tax rate | 25% | |||||
Tax Structure Staggered Rates, Maximum Taxable Net Profit | $ 5,000,000 | |||||
Income Up To AR$50 Million [Member] | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Applicable tax rate | 30% | |||||
More than $5,000,000 and up to $50,000,000 of Accumulated Taxable Net Income [Member] | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Tax Structure Staggered Rates, Maximum Taxable Net Profit | $ 50,000,000 | |||||
Tax Structure Staggered Rates, Fixed Amount, Minimum Taxable Net Profit | 5,000,000 | |||||
Tax Structure Staggered Rates, Fixed Amount, Threshold Taxable Net Income | $ 5,000,000 | |||||
Tax Structure Staggered Rates, Fixed Amount, Income Tax | $ 1,250 | |||||
More than $50,000,000 of Accumulated Taxable Net Income [Member] | ||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||
Applicable tax rate | 35% | |||||
Tax Structure Staggered Rates, Maximum Taxable Net Profit | $ 50,000,000 | |||||
Tax Structure Staggered Rates, Fixed Amount, Threshold Taxable Net Income | 50,000,000 | |||||
Tax Structure Staggered Rates, Fixed Amount, Income Tax | $ 14,750,000 |
INCOME TAX - Reconciliation bet
INCOME TAX - Reconciliation between the tax rate applied and relevant tax rate (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
INCOME TAX | |||
Income before taxes | $ (8,620,431) | $ (2,837,061) | $ 12,268,101 |
Tax rate | 34% | 28% | 30% |
Income for the year at tax rate | $ 2,967,601 | $ 780,253 | $ (3,680,430) |
Contribution SGR | (187,991) | (562,465) | (955,901) |
Tax inflation adjustment | (2,187,304) | 218,198 | (42,460) |
Income tax return FY 2019 | 34,862 | 51,612 | (50,359) |
Effect of tax rate change on deferred tax | 1,712,213 | 1,483,722 | (1,675,998) |
Non-deductible results | 9,807 | 134,427 | 1,019,271 |
Income tax | $ 3,586,014 | $ (545,241) | $ (1,974,983) |
INCOME TAX - Net position of de
INCOME TAX - Net position of deferred tax (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets / (liabilities) | |||
Deferred tax assets | $ 12,196,868 | $ 6,301,474 | |
Deferred tax liability | (181,543) | (120,258) | |
Deferred tax assets | 12,196,868 | 6,301,474 | |
Deferred tax liability | (181,543) | (120,258) | |
Total Net Assets by deferred Tax | 12,015,325 | 6,181,216 | $ 9,625,994 |
Later than one year [member] | |||
Deferred tax assets / (liabilities) | |||
Deferred tax assets | 10,383,500 | 5,356,254 | |
Deferred tax assets | 9,993,005 | 3,129,388 | |
Deferred tax liability | (810,164) | (165,323) | |
Up to 1 year [member] | |||
Deferred tax assets / (liabilities) | |||
Deferred tax assets | 1,813,368 | 945,220 | |
Deferred tax liability | (181,543) | (120,258) | |
Deferred tax assets | 2,203,863 | 3,172,086 | |
Deferred tax liability | $ 628,621 | $ 45,065 |
INCOME TAX - Deferred tax asset
INCOME TAX - Deferred tax assets (liabilities) (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred tax assets / (liabilities) | ||
Beginning Balance | $ 6,181,216 | $ 9,625,994 |
(Charge)/Credit to Income | 5,834,109 | (3,444,778) |
Ending Balance | 12,015,325 | 6,181,216 |
Intangible asset [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | (2,837,272) | (2,869,705) |
(Charge)/Credit to Income | 63,842 | 32,433 |
Ending Balance | (2,773,430) | (2,837,272) |
Retirement plan [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 340,596 | |
(Charge)/Credit to Income | (340,596) | |
Loan loss reserves [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 2,945,323 | 6,403,000 |
(Charge)/Credit to Income | (994,337) | (3,457,677) |
Ending Balance | 1,950,986 | 2,945,323 |
Property, plant and equipment [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | (7,770,156) | (3,462,205) |
(Charge)/Credit to Income | 5,174,798 | (4,307,951) |
Ending Balance | (2,595,358) | (7,770,156) |
Foreign currency [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | (101,579) | (126,072) |
(Charge)/Credit to Income | 24,493 | |
Ending Balance | (101,579) | (101,579) |
Loss carry forwards [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 7,678,038 | 660,569 |
(Charge)/Credit to Income | 4,422,707 | 7,017,469 |
Ending Balance | 12,100,745 | 7,678,038 |
Inflation Adjustment Credit [Member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 3,839,317 | 7,418,431 |
(Charge)/Credit to Income | (1,020,424) | (3,579,114) |
Ending Balance | 2,818,893 | 3,839,317 |
Other provisions [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 592,442 | 415,102 |
(Charge)/Credit to Income | (57,395) | 177,340 |
Ending Balance | 535,047 | 592,442 |
Other deferred tax assets and liabilities [member] | ||
Deferred tax assets / (liabilities) | ||
Beginning Balance | 1,835,103 | 846,278 |
(Charge)/Credit to Income | (1,755,082) | 988,825 |
Ending Balance | $ 80,021 | $ 1,835,103 |
INCOME TAX - Loss carryforward
INCOME TAX - Loss carryforward (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Loss carryforward | $ 34,573,558 | |
Deferred tax assets | 12,196,868 | $ 6,301,474 |
Unused tax losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 12,100,745 | |
2019 | 2024 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Loss carryforward | 9,601 | |
2019 | 2024 | Unused tax losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 3,360 | |
2020 | 2025 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Loss carryforward | 2,338 | |
2020 | 2025 | Unused tax losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 818 | |
2021 | 2026 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Loss carryforward | 15,715,468 | |
2021 | 2026 | Unused tax losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | 5,500,414 | |
2022 | 2027 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Loss carryforward | 18,846,152 | |
2022 | 2027 | Unused tax losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax assets | $ 6,596,153 |
FINANCIAL INSTRUMENTS (Details)
FINANCIAL INSTRUMENTS (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Total Assets | $ 621,065,731 | $ 686,714,111 |
Liabilities | ||
Financial liabilities | 573,852,672 | 626,461,386 |
Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 43,293,094 | 79,086,633 |
Financial assets at fair value through profit or loss | Financial liabilities at fair value through profit or loss | ||
Liabilities | ||
Financial liabilities | 19,952,509 | 48,823,057 |
Financial assets at amortized cost | ||
Assets | ||
Total Assets | 367,803,323 | 469,712,104 |
Financial assets at amortized cost | Financial liabilities at amortized cost | ||
Liabilities | ||
Financial liabilities | 553,900,163 | 577,638,329 |
Financial assets at fair value through other comprehensive income | ||
Assets | ||
Total Assets | 209,969,314 | 137,915,374 |
Deposits | ||
Liabilities | ||
Financial liabilities | 547,516,935 | 561,896,707 |
Deposits | Financial assets at amortized cost | Financial liabilities at amortized cost | ||
Liabilities | ||
Financial liabilities | 547,516,935 | 561,896,707 |
Liabilities at fair value through profit or loss | ||
Liabilities | ||
Financial liabilities | 2,139,170 | 3,999,525 |
Liabilities at fair value through profit or loss | Financial assets at fair value through profit or loss | Financial liabilities at fair value through profit or loss | ||
Liabilities | ||
Financial liabilities | 2,139,170 | 3,999,525 |
Other financial liabilities | ||
Liabilities | ||
Financial liabilities | 18,105,482 | 46,322,290 |
Other financial liabilities | Financial assets at fair value through profit or loss | Financial liabilities at fair value through profit or loss | ||
Liabilities | ||
Financial liabilities | 17,813,339 | 44,823,532 |
Other financial liabilities | Financial assets at amortized cost | Financial liabilities at amortized cost | ||
Liabilities | ||
Financial liabilities | 292,143 | 1,498,758 |
Financing received from the Argentine Central Bank and other financial institutions | ||
Liabilities | ||
Financial liabilities | 5,529,676 | 12,179,537 |
Financing received from the Argentine Central Bank and other financial institutions | Financial assets at amortized cost | Financial liabilities at amortized cost | ||
Liabilities | ||
Financial liabilities | 5,529,676 | 12,179,537 |
Unsubordinated Negotiable Obligations | ||
Liabilities | ||
Financial liabilities | 561,409 | 2,063,327 |
Unsubordinated Negotiable Obligations | Financial assets at amortized cost | Financial liabilities at amortized cost | ||
Liabilities | ||
Financial liabilities | 561,409 | 2,063,327 |
Cash and due from banks | ||
Assets | ||
Total Assets | 48,399,468 | 63,452,161 |
Cash and due from banks | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 48,399,468 | 63,452,161 |
Debt Securities At Fair Value Through Profit Or Loss | ||
Assets | ||
Total Assets | 22,384,677 | 38,486,623 |
Debt Securities At Fair Value Through Profit Or Loss | Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 22,384,677 | 38,486,623 |
Derivatives Assets | ||
Assets | ||
Total Assets | 295,555 | 432,164 |
Derivatives Assets | Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 295,555 | 432,164 |
Reverse Repo transactions | ||
Assets | ||
Total Assets | 21,581,438 | 83,468,057 |
Reverse Repo transactions | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 21,581,438 | 83,468,057 |
Other financial assets | ||
Assets | ||
Total Assets | 8,107,119 | 27,120,979 |
Other financial assets | Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 5,962,142 | 24,112,684 |
Other financial assets | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 2,144,977 | 3,008,295 |
Loans and other financing | ||
Assets | ||
Total Assets | 235,591,198 | 302,853,393 |
Loans and other financing | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 235,591,198 | 302,853,393 |
Other Debt Securities | ||
Assets | ||
Total Assets | 269,735,051 | 153,750,726 |
Other Debt Securities | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 59,999,337 | 16,044,300 |
Other Debt Securities | Financial assets at fair value through other comprehensive income | ||
Assets | ||
Total Assets | 209,735,714 | 137,706,426 |
Financial assets in guarantee | ||
Assets | ||
Total Assets | 14,468,665 | 16,635,209 |
Financial assets in guarantee | Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 14,381,760 | 15,749,311 |
Financial assets in guarantee | Financial assets at amortized cost | ||
Assets | ||
Total Assets | 86,905 | 885,898 |
Investments in Equity Instruments | ||
Assets | ||
Total Assets | 502,560 | 514,799 |
Investments in Equity Instruments | Financial assets at fair value through profit or loss | ||
Assets | ||
Total Assets | 268,960 | 305,851 |
Investments in Equity Instruments | Financial assets at fair value through other comprehensive income | ||
Assets | ||
Total Assets | $ 233,600 | $ 208,948 |
FAIR VALUES - Fair value of fin
FAIR VALUES - Fair value of financial instruments (Details) - Fair value [member] - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | $ 253,262,408 | $ 217,002,007 |
Financial liabilities | 19,952,509 | 48,823,057 |
Debt Securities At Fair Value Through Profit Or Loss | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 22,384,677 | 38,486,623 |
Derivatives | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 295,555 | 432,164 |
Other financial assets | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 5,962,142 | 24,112,684 |
Other Debt Securities | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 209,735,714 | 137,706,426 |
Financial assets in guarantee | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 14,381,760 | 15,749,311 |
Investments in Equity Instruments | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 502,560 | 514,799 |
Liabilities at fair value through profit or loss | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial liabilities | 2,139,170 | 3,999,525 |
Other financial liabilities | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial liabilities | 17,813,339 | 44,823,532 |
Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 50,664,713 | 104,592,031 |
Financial liabilities | 19,952,509 | 48,823,057 |
Level 1 of fair value hierarchy [member] | Debt Securities At Fair Value Through Profit Or Loss | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 22,381,002 | 37,879,808 |
Level 1 of fair value hierarchy [member] | Derivatives | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 295,555 | 432,164 |
Level 1 of fair value hierarchy [member] | Other financial assets | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 5,962,142 | 24,112,684 |
Level 1 of fair value hierarchy [member] | Other Debt Securities | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 7,375,294 | 26,112,213 |
Level 1 of fair value hierarchy [member] | Financial assets in guarantee | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 14,381,760 | 15,749,311 |
Level 1 of fair value hierarchy [member] | Investments in Equity Instruments | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 268,960 | 305,851 |
Level 1 of fair value hierarchy [member] | Liabilities at fair value through profit or loss | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial liabilities | 2,139,170 | 3,999,525 |
Level 1 of fair value hierarchy [member] | Other financial liabilities | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial liabilities | 17,813,339 | 44,823,532 |
Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 202,364,095 | 112,201,028 |
Level 2 of fair value hierarchy [member] | Debt Securities At Fair Value Through Profit Or Loss | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 3,675 | 606,815 |
Level 2 of fair value hierarchy [member] | Other Debt Securities | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 202,360,420 | 111,594,213 |
Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | 233,600 | 208,948 |
Level 3 of fair value hierarchy [member] | Investments in Equity Instruments | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Financial assets | $ 233,600 | $ 208,948 |
FAIR VALUES - Level 3 Reconcili
FAIR VALUES - Level 3 Reconciliation (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 ARS ($) | |
Reconciliation of the financial instruments | |
Assets at beginning of period | $ 760,478,509 |
Disposals | (14,645) |
Assets at end of period | 696,867,297 |
Level 3 of fair value hierarchy [member] | |
Reconciliation of the financial instruments | |
Assets at beginning of period | 208,948 |
Additions | 86,273 |
Disposals | (14,645) |
P/L | (46,976) |
Assets at end of period | $ 233,600 |
FAIR VALUES - Assets and Liabil
FAIR VALUES - Assets and Liabilities at Amortized Cost (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial Liabilities | ||
Financial liabilities at amortised cost | $ 561,409 | $ 2,063,327 |
Book value [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 367,803,323 | 469,712,104 |
Financial Liabilities | ||
Financial liabilities at amortised cost | 553,900,163 | 577,638,329 |
Book value [member] | Deposits | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 547,516,935 | 561,896,707 |
Book value [member] | Other financial liabilities | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 292,143 | 1,498,758 |
Book value [member] | Financing received from the Argentine Central Bank and other financial institutions | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 5,529,676 | 12,179,537 |
Book value [member] | Unsubordinated Negotiable Obligations | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 561,409 | 2,063,327 |
Book value [member] | Cash and due from banks | ||
Financial Assets | ||
Financial assets at amortised cost | 48,399,468 | 63,452,161 |
Book value [member] | Other financial assets | ||
Financial Assets | ||
Financial assets at amortised cost | 2,144,977 | 3,008,295 |
Book value [member] | Loans and other financing | ||
Financial Assets | ||
Financial assets at amortised cost | 235,591,198 | 302,853,393 |
Book value [member] | Reverse Repo transactions | ||
Financial Assets | ||
Financial assets at amortised cost | 21,581,438 | 83,468,057 |
Book value [member] | Other Debt Securities | ||
Financial Assets | ||
Financial assets at amortised cost | 59,999,337 | 16,044,300 |
Book value [member] | Financial assets in guarantee | ||
Financial Assets | ||
Financial assets at amortised cost | 86,905 | 885,898 |
Fair value [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 370,801,167 | 495,729,743 |
Financial Liabilities | ||
Financial liabilities at amortised cost | 571,552,904 | 581,049,405 |
Fair value [member] | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 104,914,543 | 166,858,711 |
Financial Liabilities | ||
Financial liabilities at amortised cost | 853,552 | 3,562,085 |
Fair value [member] | Level 2 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 29,508,700 | |
Fair value [member] | Level 3 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 236,377,924 | 328,871,032 |
Financial Liabilities | ||
Financial liabilities at amortised cost | 570,699,352 | 577,487,320 |
Fair value [member] | Deposits | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 562,018,078 | 564,592,298 |
Fair value [member] | Deposits | Level 3 of fair value hierarchy [member] | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 562,018,078 | 564,592,298 |
Fair value [member] | Other financial liabilities | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 292,143 | 1,498,758 |
Fair value [member] | Other financial liabilities | Level 1 of fair value hierarchy [member] | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 292,143 | 1,498,758 |
Fair value [member] | Financing received from the Argentine Central Bank and other financial institutions | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 8,681,274 | 12,895,022 |
Fair value [member] | Financing received from the Argentine Central Bank and other financial institutions | Level 3 of fair value hierarchy [member] | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 8,681,274 | 12,895,022 |
Fair value [member] | Unsubordinated Negotiable Obligations | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 561,409 | 2,063,327 |
Fair value [member] | Unsubordinated Negotiable Obligations | Level 1 of fair value hierarchy [member] | ||
Financial Liabilities | ||
Financial liabilities at amortised cost | 561,409 | 2,063,327 |
Fair value [member] | Cash and due from banks | ||
Financial Assets | ||
Financial assets at amortised cost | 48,399,468 | 63,452,161 |
Fair value [member] | Cash and due from banks | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 48,399,468 | 63,452,161 |
Fair value [member] | Other financial assets | ||
Financial Assets | ||
Financial assets at amortised cost | 2,144,977 | 3,008,294 |
Fair value [member] | Other financial assets | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 2,144,977 | 3,008,294 |
Fair value [member] | Loans and other financing | ||
Financial Assets | ||
Financial assets at amortised cost | 236,377,924 | 328,871,032 |
Fair value [member] | Loans and other financing | Level 3 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 236,377,924 | 328,871,032 |
Fair value [member] | Reverse Repo transactions | ||
Financial Assets | ||
Financial assets at amortised cost | 21,581,438 | 83,468,057 |
Fair value [member] | Reverse Repo transactions | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 21,581,438 | 83,468,057 |
Fair value [member] | Other Debt Securities | ||
Financial Assets | ||
Financial assets at amortised cost | 62,210,455 | 16,044,301 |
Fair value [member] | Other Debt Securities | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 32,701,755 | 16,044,301 |
Fair value [member] | Other Debt Securities | Level 2 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | 29,508,700 | |
Fair value [member] | Financial assets in guarantee | ||
Financial Assets | ||
Financial assets at amortised cost | 86,905 | 885,898 |
Fair value [member] | Financial assets in guarantee | Level 1 of fair value hierarchy [member] | ||
Financial Assets | ||
Financial assets at amortised cost | $ 86,905 | $ 885,898 |
FAIR VALUES - Fair Equity Instr
FAIR VALUES - Fair Equity Instruments (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Equity investments | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | $ 268,960 | $ 305,851 |
Grupo Financiero Galicia S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 5,026 | 31,699 |
Pampa Holding S.A | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 46,530 | 48,116 |
Loma Negra S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 33,016 | 31,334 |
YPF S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 45,593 | 18,755 |
Ternium Argentina S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 13,738 | 65,160 |
Aluar S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 54,284 | 35,337 |
Transener S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | 5,564 | 14,200 |
Others | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Equity instruments measured at Fair Value with changes in profit or loss | $ 65,209 | $ 61,250 |
FAIR VALUES - Fair value of equ
FAIR VALUES - Fair value of equity instruments changes in other comprehensive income (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | $ 208,948 | $ 85,850 |
Loss/Income through OCI | (46,975) | 7,722 |
Disposals | (14,645) | |
Additions | 86,272 | 115,376 |
Ending balance of fair value of equity instruments | 233,600 | 208,948 |
Mercado Abierto Electrnico S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 89,112 | 13,554 |
Loss/Income through OCI | 3,384 | 75,558 |
Ending balance of fair value of equity instruments | 92,496 | 89,112 |
Seguro de Depsitos S.A | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 13,701 | 4,745 |
Loss/Income through OCI | (3,057) | 8,956 |
Ending balance of fair value of equity instruments | 10,644 | 13,701 |
Compensador Electrnica S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 22,072 | 2,704 |
Loss/Income through OCI | 10,616 | 19,368 |
Ending balance of fair value of equity instruments | 32,688 | 22,072 |
Provincanje S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 8,627 | 802 |
Loss/Income through OCI | (1,373) | 7,825 |
Ending balance of fair value of equity instruments | 7,254 | 8,627 |
Cuyo Aval Sociedad de Garanta Recproca | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 2,715 | 4,223 |
Loss/Income through OCI | (842) | (1,508) |
Ending balance of fair value of equity instruments | 1,873 | 2,715 |
Argencontrol S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 306 | 368 |
Loss/Income through OCI | 18 | (62) |
Ending balance of fair value of equity instruments | 324 | 306 |
Los Grobo Sociedad de Garanta Recproca | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 214 | |
Loss/Income through OCI | (214) | |
IEBA S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 119 | 179 |
Loss/Income through OCI | (58) | (60) |
Ending balance of fair value of equity instruments | 61 | 119 |
Play Digital S.A. | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 71,989 | 58,670 |
Loss/Income through OCI | (55,626) | (102,057) |
Disposals | (14,645) | |
Additions | 86,272 | 115,376 |
Ending balance of fair value of equity instruments | 87,990 | 71,989 |
Otras Sociedades de Garanta Recproca | ||
Disclosure of fair value measurement of assets and liability [line items] | ||
Beginning balance of fair value of equity instruments | 307 | 391 |
Loss/Income through OCI | (37) | (84) |
Ending balance of fair value of equity instruments | $ 270 | $ 307 |
FINANCE LEASES -Financial posit
FINANCE LEASES -Financial position (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Leases | ||
Current | $ 960,674 | $ 1,604,291 |
Non-current | 607,788 | 1,041,516 |
Total | 1,568,462 | 2,645,807 |
Land and buildings [member] | ||
Leases | ||
Right-of-use assets | $ 5,424,368 | $ 6,163,928 |
FINANCE LEASES - Income stateme
FINANCE LEASES - Income statement (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 ARS ($) | |
Amounts charged to income statement | |
Interest expenses on lease liabilities (Other operating expenses) | $ 499,393 |
Land and buildings [member] | |
Amounts charged to income statement | |
Right-of-use assets - Depreciation | $ 1,914,585 |
FINANCE LEASES - Lease activiti
FINANCE LEASES - Lease activities (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Minimum | |
Leases | |
Rental agreement period | 1 year |
Maximum | |
Leases | |
Rental agreement period | 3 years |
FINANCE LEASES - Finance Lease
FINANCE LEASES - Finance Lease Receivables (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial Lease Receivables | ||
Finance lease receivable | $ 22,222,797 | $ 19,686,790 |
Unearned financial income | (11,533,816) | (8,005,394) |
Net investment in the lease | 10,688,981 | 11,681,396 |
Finance Lease Receivables | ||
Financial Lease Receivables | ||
Allowance for losses | 90,056 | 314,852 |
Up to 1 year [member] | ||
Financial Lease Receivables | ||
Finance lease receivable | 7,670,806 | 6,856,845 |
More than a year up to two years | ||
Financial Lease Receivables | ||
Finance lease receivable | 6,865,284 | 5,763,027 |
From two to three years | ||
Financial Lease Receivables | ||
Finance lease receivable | 4,676,715 | 4,381,479 |
From three to five years | ||
Financial Lease Receivables | ||
Finance lease receivable | 2,805,005 | 2,656,452 |
More than five years [member] | ||
Financial Lease Receivables | ||
Finance lease receivable | $ 204,987 | $ 28,987 |
FINANCE LEASES - Operating Leas
FINANCE LEASES - Operating Lease Receivables (Details) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Lease Receivables | ||
Operating lease receivables | $ 157,975 | $ 45,076 |
Up to 1 year [member] | ||
Financial Lease Receivables | ||
Operating lease receivables | 55,908 | 27,151 |
More than a year up to two years | ||
Financial Lease Receivables | ||
Operating lease receivables | 74,929 | $ 17,925 |
From two to three years | ||
Financial Lease Receivables | ||
Operating lease receivables | $ 27,138 |
REPO AND REVERSE REPO TRANSAC_3
REPO AND REVERSE REPO TRANSACTIONS - (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
REPO AND REVERSE REPO TRANSACTIONS | ||
Book Value | $ 21,581,438 | $ 83,468,057 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS - Operation Related to Derivatives (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative Financial Instruments | ||
Amounts receivable for spot and forward transactions pending settlement | $ 295,555 | $ 432,164 |
Net amount | 295,555 | 432,164 |
Spot and Forward Transactions Pending Settlement | ||
Derivative Financial Instruments | ||
Amounts receivable for spot and forward transactions pending settlement | 203,748 | 417,814 |
Amounts payable for spot and forward transactions pending settlement | 58,758 | $ 14,350 |
Put option taken | ||
Derivative Financial Instruments | ||
Amounts receivable for spot and forward transactions pending settlement | $ 33,049 |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS - Notional Values (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Forward sales of foreign exchange without delivery of underlying assets [member] | ||
DERIVATIVE FINANCIAL INSTRUMENTS | ||
Delivery of underlying assets | $ 13,516,700 | $ 7,561,427 |
Forward purchases of foreign exchange without delivery of underlying assets [member] | ||
DERIVATIVE FINANCIAL INSTRUMENTS | ||
Delivery of underlying assets | $ 4,009,654 | $ 3,465,396 |
DERIVATIVE FINANCIAL INSTRUME_5
DERIVATIVE FINANCIAL INSTRUMENTS - Expense (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
DERIVATIVE FINANCIAL INSTRUMENTS | |||
Expense generated by derivative financial instruments | $ 663,196 | $ 3,086,983 | $ 529,541 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - ARS ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
EARNINGS PER SHARE | |||
Income attributable to shareholders of the group | $ (5,028,955) | $ (3,378,763) | $ 10,290,495 |
Weighted average of ordinary shares (thousands) | 454,274 | 456,722 | 456,722 |
Income per share - basic | $ (11.07) | $ (7.40) | $ 22.53 |
Income per share - diluted | $ (11.07) | $ (7.40) | $ 22.53 |
SPECIAL TERMINATION ARRANGEME_3
SPECIAL TERMINATION ARRANGEMENTS - (Details) - Post Employment Benefits [Member] - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
SPECIAL TERMINATION ARRANGEMENTS | ||
Balances at the beginning | $ 3,057,602 | $ 3,371,032 |
Post-employment benefits | 2,383,462 | 3,057,602 |
Additions to profit or loss | 1,672,716 | 972,190 |
Charged to profit or loss | 1,672,716 | 972,190 |
Benefits paid to participants | (2,346,856) | (1,285,620) |
Balances at closing | $ 2,383,462 | $ 3,057,602 |
PROPERTY, PLANT AND EQUIPMENT -
PROPERTY, PLANT AND EQUIPMENT - Movements (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 21,495,256 | |
At the end of the year | 18,373,792 | $ 21,495,256 |
Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 42,245,893 | 40,740,579 |
Revaluation | (838,547) | 204,632 |
Additions | 2,988,332 | 5,657,687 |
Disposals | (3,825,397) | (4,357,005) |
At the end of the year | 40,570,281 | 42,245,893 |
Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (20,750,637) | (19,854,178) |
Disposals | 2,270,271 | 2,789,632 |
Of the Year | (3,716,123) | (3,686,091) |
At the end of the year | (22,196,489) | $ (20,750,637) |
Furniture and facilities [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 897,732 | |
Useful Life | 10 years | 10 years |
At the end of the year | $ 798,269 | $ 897,732 |
Furniture and facilities [member] | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 4,373,754 | 4,176,818 |
Additions | 144,217 | 287,552 |
Disposals | (90,616) | |
At the end of the year | 4,517,971 | 4,373,754 |
Furniture and facilities [member] | Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (3,476,022) | (3,336,482) |
Disposals | 58,292 | 134,836 |
Of the Year | (301,972) | (274,376) |
At the end of the year | (3,719,702) | $ (3,476,022) |
Machinery and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 2,559,381 | |
Useful Life | 5 years | 5 years |
At the end of the year | $ 1,768,199 | $ 2,559,381 |
Machinery and equipment [member] | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 16,013,931 | 15,250,202 |
Additions | 340,487 | 1,133,404 |
Disposals | (227,007) | (369,675) |
At the end of the year | 16,127,411 | 16,013,931 |
Machinery and equipment [member] | Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (13,454,550) | (12,843,400) |
Disposals | 211,837 | 318,508 |
Of the Year | (1,116,499) | (929,658) |
At the end of the year | (14,359,212) | $ (13,454,550) |
Vehicles [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 435,097 | |
Useful Life | 5 years | 5 years |
At the end of the year | $ 422,010 | $ 435,097 |
Vehicles [member] | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 799,959 | 766,998 |
Additions | 247,011 | 193,116 |
Disposals | (295,481) | (160,155) |
At the end of the year | 751,489 | 799,959 |
Vehicles [member] | Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (364,862) | (353,158) |
Disposals | 182,719 | 139,341 |
Of the Year | (147,336) | (151,045) |
At the end of the year | (329,479) | $ (364,862) |
Right of use assets | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 3,155,521 | |
Useful Life | 3 years | 3 years |
At the end of the year | $ 2,318,799 | $ 3,155,521 |
Right of use assets | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 6,163,928 | 6,312,483 |
Additions | 1,141,638 | 2,347,367 |
Disposals | (1,881,198) | (2,495,922) |
At the end of the year | 5,424,368 | 6,163,928 |
Right of use assets | Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (3,008,407) | (2,783,748) |
Disposals | 1,817,423 | 1,839,911 |
Of the Year | (1,914,585) | (2,064,570) |
At the end of the year | (3,105,569) | $ (3,008,407) |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 2,709,633 | |
Useful Life | 0 years | 0 years |
At the end of the year | $ 2,409,301 | $ 2,709,633 |
Construction in progress [member] | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 2,709,633 | 1,877,037 |
Additions | 1,112,246 | 1,687,251 |
Disposals | (1,412,578) | (854,655) |
At the end of the year | 2,409,301 | $ 2,709,633 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | $ 11,737,892 | |
Useful Life | 50 years | 50 years |
At the end of the year | $ 10,657,214 | $ 11,737,892 |
Land and buildings [member] | Gross carrying amount | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | 12,184,688 | 12,357,041 |
Revaluation | (838,547) | 204,632 |
Additions | 2,733 | 8,997 |
Disposals | (9,133) | (385,982) |
At the end of the year | 11,339,741 | 12,184,688 |
Land and buildings [member] | Depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At the beginning of the year | (446,796) | (537,390) |
Disposals | 357,036 | |
Of the Year | (235,731) | (266,442) |
At the end of the year | $ (682,527) | $ (446,796) |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT - Revaluation (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
PROPERTY, PLANT AND EQUIPMENT | ||
Revalued amount | $ 10,657,214 | $ 11,737,892 |
Residual Value according to the cost model | 7,089,416 | 7,332,405 |
Difference | $ 3,567,798 | $ 4,405,487 |
INVESTMENT PROPERTIES - Table (
INVESTMENT PROPERTIES - Table (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
INVESTMENT PROPERTIES | ||
Beginning balance | $ 16,943,351 | |
P/L for changes in the FV | (803,858) | $ (859,077) |
Ending balance | 16,903,052 | 16,943,351 |
Cost model | Rented property [member] | ||
INVESTMENT PROPERTIES | ||
Beginning balance | $ 273,697 | $ 106,668 |
Useful life | 5 days | 5 years |
Additions | $ 62,801 | $ 182,496 |
Disposals | (29,163) | |
of the year | (44,947) | (15,467) |
Ending balance | 262,388 | 273,697 |
Fair value [member] | ||
INVESTMENT PROPERTIES | ||
Beginning balance | 16,943,351 | 17,635,399 |
P/L for changes in the FV | (803,858) | (859,077) |
Additions | 837,669 | 182,496 |
Disposals | (29,163) | |
of the year | (44,947) | (15,467) |
Ending balance | 16,903,052 | 16,943,351 |
Fair value [member] | Rented property [member] | ||
INVESTMENT PROPERTIES | ||
Beginning balance | $ 16,669,654 | $ 17,528,731 |
Useful life | 50 days | 50 years |
P/L for changes in the FV | $ (803,858) | $ (859,077) |
Additions | 774,868 | |
Ending balance | $ 16,640,664 | $ 16,669,654 |
INTANGIBLE ASSETS - Summary (De
INTANGIBLE ASSETS - Summary (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 ARS ($) | Dec. 31, 2021 ARS ($) | |
INTANGIBLE ASSETS | ||
At the beginning of the year | $ 22,249,482 | |
At the End of the year | $ 22,275,852 | $ 22,249,482 |
Weighted average cost of capital, measurement input [member] | ||
INTANGIBLE ASSETS | ||
Average cost of capital (WACC) | 15 | |
Goodwill [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | $ 10,702,288 | |
At the End of the year | 9,963,514 | 10,702,288 |
Brand [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 588,043 | |
At the End of the year | 588,043 | 588,043 |
Other intangible assets [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 10,959,151 | |
At the End of the year | 11,724,295 | 10,959,151 |
Gross carrying amount | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 34,124,505 | 27,870,493 |
Additions | 5,686,409 | 6,288,154 |
Impairment | (738,774) | |
Disposals | (182,978) | (34,142) |
At the End of the year | 38,889,162 | 34,124,505 |
Gross carrying amount | Goodwill [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 10,702,288 | 10,702,288 |
Impairment | (738,774) | |
At the End of the year | 9,963,514 | 10,702,288 |
Gross carrying amount | Brand [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 588,043 | 588,043 |
At the End of the year | 588,043 | 588,043 |
Gross carrying amount | Other intangible assets [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | 22,834,174 | 16,580,162 |
Additions | 5,686,409 | 6,288,154 |
Disposals | (182,978) | (34,142) |
At the End of the year | 28,337,605 | 22,834,174 |
Accumulated depreciation and amortisation [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | (11,875,023) | (7,928,203) |
Disposals | 156,023 | 11,393 |
Of the year | (4,894,310) | (3,958,213) |
At the End of the year | (16,613,310) | (11,875,023) |
Accumulated depreciation and amortisation [member] | Other intangible assets [member] | ||
INTANGIBLE ASSETS | ||
At the beginning of the year | (11,875,023) | (7,928,203) |
Disposals | 156,023 | 11,393 |
Of the year | (4,894,310) | (3,958,213) |
At the End of the year | $ (16,613,310) | $ (11,875,023) |
INTANGIBLE ASSETS - Goodwill by
INTANGIBLE ASSETS - Goodwill by cash generating units (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Goodwill | ||
Goodwill | $ 9,963,514 | $ 10,702,288 |
Supervielle Seguros S.A. [member] | ||
Goodwill | ||
Goodwill | 28,479 | 28,479 |
Cordial Compania Financiera S.A. | ||
Goodwill | ||
Goodwill | 717,333 | |
Banco Regional de Cuyo S.A. [member] | ||
Goodwill | ||
Goodwill | 149,316 | 149,316 |
Invertir Online.Com Argentina S.A.U. [member] | ||
Goodwill | ||
Goodwill | 5,427,807 | 5,427,807 |
Micro Lending S.A.U. | ||
Goodwill | ||
Goodwill | 4,273,695 | 4,273,695 |
Supervielle Agente de Negoacin S.A.U. [member] | ||
Goodwill | ||
Goodwill | 15,075 | 15,075 |
DolarIOL S.A.U. | ||
Goodwill | ||
Goodwill | 21,441 | |
Others [member] | ||
Goodwill | ||
Goodwill | $ 69,142 | $ 69,142 |
INTANGIBLE ASSETS - Assumptions
INTANGIBLE ASSETS - Assumptions (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2022 | Dec. 31, 2027 | Dec. 31, 2026 | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||||||
Cash flow projections financial budget period | 0 years | |||||
Inflation (end of period) (as percent) | 95% | |||||
Inflation (average) (as a percent) | 72.40% | |||||
Cost of funding (average) (as a percent) | 53.20% | |||||
Loan's interest rate (average) | 58.50% | |||||
Goodwill impairment | $ 0 | |||||
Increase in weighted average cost of capital (as a percent) | 1% | |||||
Forecast | ||||||
Disclosure of reconciliation of changes in goodwill [line items] | ||||||
Inflation (end of period) (as percent) | 35.60% | 35.60% | 41.10% | 60.60% | 91% | |
Inflation (average) (as a percent) | 35.60% | 37.60% | 48.10% | 73.30% | 93% | |
Cost of funding (average) (as a percent) | 33.20% | 33.20% | 37.80% | 52.40% | 73.40% | |
Loan's interest rate (average) | 47.90% | 47.90% | 52.80% | 72.80% | 87.70% |
COMPOSITION OF THE MAIN ITEMS_3
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Debt securities at fair value through profit or loss (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | ||
Government securities | $ 15,745,113 | $ 37,147,434 |
Corporate securities | 6,639,564 | 606,816 |
Securities issued by the Central Bank | 732,373 | |
Debt securities | $ 22,384,677 | $ 38,486,623 |
COMPOSITION OF THE MAIN ITEMS_4
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Derivatives (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of debt securities [line items] | ||
Derivatives | $ 295,555 | $ 432,164 |
Debtor balances related to forward operations in foreign currency to be settled in pesos | ||
Disclosure of debt securities [line items] | ||
Derivatives | 203,748 | 417,814 |
Debtor balances related to forward operations in foreign currency | ||
Disclosure of debt securities [line items] | ||
Derivatives | 58,758 | $ 14,350 |
Put option taken | ||
Disclosure of debt securities [line items] | ||
Derivatives | $ 33,049 |
COMPOSITION OF THE MAIN ITEMS_5
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other financial assets (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other financial assets | ||
Other financial assets | $ 8,107,119 | $ 27,120,979 |
Participation certificate in financial trusts | ||
Other financial assets | ||
Other financial assets, Gross | 158,401 | 167,559 |
Investments in Asset Management and Other Services | ||
Other financial assets | ||
Other financial assets, Gross | 2,164,184 | 4,019,951 |
Other investments [member] | ||
Other financial assets | ||
Other financial assets, Gross | 1,030,662 | 1,010,815 |
Receivable from spot sales pending settlement [member] | ||
Other financial assets | ||
Other financial assets, Gross | 2,395,315 | 19,210,706 |
Several debtors [member] | ||
Other financial assets | ||
Other financial assets, Gross | 2,191,456 | 1,357,424 |
Miscellaneous debtors for credit card operations [member] | ||
Other financial assets | ||
Other financial assets, Gross | $ 167,101 | 1,257,067 |
Miscellaneous debtors for collections [member] | ||
Other financial assets | ||
Other financial assets, Gross | $ 97,457 |
COMPOSITION OF THE MAIN ITEMS_6
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other debt securities (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other debt securities | ||
Other debt instruments held | $ 269,735,051 | $ 153,750,726 |
Debt Securities [Member] | ||
Other debt securities | ||
Other debt instruments held, Gross | 5,658,969 | 429,369 |
Government Securities [member] | ||
Other debt securities | ||
Other debt instruments held, Gross | 36,917,618 | 42,167,720 |
Securities issued by the Central Bank [member] | ||
Other debt securities | ||
Other debt instruments held, Gross | 227,158,416 | 111,153,464 |
Others [member] | ||
Other debt securities | ||
Other debt instruments held, Gross | $ 48 | $ 173 |
COMPOSITION OF THE MAIN ITEMS_7
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Financial assets in guarantee (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financial assets in guarantee | ||
Financial assets pledged as collateral | $ 14,468,665 | $ 16,635,209 |
Special Guarantees Accounts Argentine Central Bank [Member] | ||
Financial assets in guarantee | ||
Financial assets pledged as collateral | 10,294,615 | 12,691,876 |
Deposits In Guarantee [Member] | ||
Financial assets in guarantee | ||
Financial assets pledged as collateral | $ 4,174,050 | $ 3,943,333 |
COMPOSITION OF THE MAIN ITEMS_8
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Inventories (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Inventories | ||
Inventories | $ 67,090 | $ 266,428 |
Gross carrying amount | ||
Inventories | ||
Electronics | $ 67,090 | 271,602 |
Obsolescence Reserve | ||
Inventories | ||
Inventories | $ (5,174) |
COMPOSITION OF THE MAIN ITEMS_9
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other non-financial assets (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | ||
Other Miscellaneous assets | $ 2,470,942 | $ 2,443,232 |
Loans to employees | 860,120 | 451,903 |
Payments in advance | 1,333,131 | 1,539,540 |
Other non-financial assets | 137,373 | 128,184 |
Retirement Plan | 124,568 | 135,709 |
Works of art and collector's pieces | 82,705 | 95,094 |
Non financial assets | $ 5,008,839 | $ 4,793,662 |
COMPOSITION OF THE MAIN ITEM_10
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Deposits (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | ||
Non-financial sector | $ 27,843,116 | $ 22,352,551 |
Financial sector | 101,430 | 76,162 |
Current accounts | 50,574,131 | 61,528,491 |
Savings accounts | 271,188,474 | 305,671,184 |
Time deposits and investments accounts | 150,744,921 | 163,834,532 |
Others | 47,064,863 | 8,433,787 |
Deposits | $ 547,516,935 | $ 561,896,707 |
COMPOSITION OF THE MAIN ITEM_11
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Liabilities at fair value through profit or loss (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Liabilities at fair value through profit or loss | ||
Liabilities at fair value through profit or loss | $ 2,139,170 | $ 3,999,525 |
Local currency [member] | ||
Liabilities at fair value through profit or loss | ||
Liabilities at fair value through profit or loss | 1,270,093 | 2,657,571 |
Foreign currency [member] | ||
Liabilities at fair value through profit or loss | ||
Liabilities at fair value through profit or loss | $ 869,077 | $ 1,341,954 |
COMPOSITION OF THE MAIN ITEM_12
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other financial liabilities (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other financial liabilities | ||
Other financial liabilities | $ 18,105,482 | $ 46,322,290 |
Amounts payable for spot transactions pending settlement [member] | ||
Other financial liabilities | ||
Other financial liabilities | 2,062,722 | 25,036,289 |
Collections and other operations on behalf of third parties [member] | ||
Other financial liabilities | ||
Other financial liabilities | 14,386,907 | 17,519,227 |
Fees accrued to pay [member] | ||
Other financial liabilities | ||
Other financial liabilities | 3,680 | 13,304 |
Financial guarantee contracts [member] | ||
Other financial liabilities | ||
Other financial liabilities | 24,402 | 27,661 |
Liabilities associated with the transfer of financial assets not derecognized [member] | ||
Other financial liabilities | ||
Other financial liabilities | 1,074,393 | |
Lease Liabilities | ||
Other financial liabilities | ||
Other financial liabilities | 1,568,462 | 2,645,807 |
Others [member] | ||
Other financial liabilities | ||
Other financial liabilities | $ 59,309 | $ 5,609 |
COMPOSITION OF THE MAIN ITEM_13
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Financing received from the Argentine Central Bank and other financial institutions (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | ||
Financing received from local financial institutions | $ 3,819,232 | $ 2,017,925 |
Financing received from international institutions | 1,710,444 | 10,161,612 |
Financing received from the Central Bank and other financial institutions | $ 5,529,676 | $ 12,179,537 |
COMPOSITION OF THE MAIN ITEM_14
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Provisions (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Provisions | ||
Provisions | $ 1,691,656 | $ 1,779,769 |
Eventual commitments | ||
Provisions | ||
Provisions | 87,249 | 116,256 |
Unused Balances Credit Cards | ||
Provisions | ||
Provisions | 455,424 | 404,901 |
Other contingencies | ||
Provisions | ||
Provisions | $ 1,148,983 | $ 1,258,612 |
COMPOSITION OF THE MAIN ITEM_15
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other non-financial liabilities (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other non-financial liabilities | ||
Non financial liabilities | $ 28,795,393 | $ 31,700,398 |
Payroll and social securities [member] | ||
Other non-financial liabilities | ||
Non financial liabilities | 11,318,832 | 12,182,997 |
Sundry Creditors [member] | ||
Other non-financial liabilities | ||
Non financial liabilities | 9,206,832 | 11,513,613 |
Revenue from contracts with customers [member] | ||
Other non-financial liabilities | ||
Non financial liabilities | 328,012 | 357,894 |
Tax | ||
Other non-financial liabilities | ||
Non financial liabilities | 7,085,989 | 6,739,675 |
Social security payment orders pending settlement [member] | ||
Other non-financial liabilities | ||
Non financial liabilities | 748,064 | 785,876 |
Other | ||
Other non-financial liabilities | ||
Non financial liabilities | $ 107,664 | $ 120,343 |
COMPOSITION OF THE MAIN ITEM_16
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Income from interests (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Interest on overdrafts | $ 7,537,097 | $ 6,103,081 | $ 7,875,342 |
Interest on promissory notes | 20,561,099 | 21,806,715 | 18,307,059 |
Interest on personal loans | 29,590,308 | 37,793,670 | 41,673,623 |
Interest on corporate unsecured loans | 16,284,814 | 13,476,675 | 17,587,964 |
Interest on credit card loans | 14,730,148 | 11,546,621 | 11,227,684 |
Interest on mortgage loans | 18,113,794 | 13,757,962 | 11,745,104 |
Interest on automobile and other secured loan | 4,213,953 | 3,016,404 | 2,171,083 |
Interest on foreign trade loans | 1,287,776 | 2,422,345 | 4,272,549 |
Interest on financial leases | 4,580,097 | 3,080,043 | 2,071,129 |
Interest on public and private securities measured at amortized cost | 124,280,620 | 53,904,404 | 60,345,952 |
Others | 10,694,120 | 34,570,333 | 12,955,694 |
Total | $ 251,873,826 | $ 201,478,253 | $ 190,233,183 |
COMPOSITION OF THE MAIN ITEM_17
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Interests expenses (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Interest on current accounts deposits | $ 67,816,547 | $ 41,178,718 | $ 18,597,380 |
Interest on time deposits | 94,781,418 | 73,231,650 | 57,555,195 |
Interest on other financial liabilities | 1,274,421 | 2,693,801 | 6,721,267 |
Interest from financing from financial sector | 1,077,969 | 356,084 | 296,475 |
Others | 555,986 | 388,664 | 857,006 |
Total | $ 165,506,341 | $ 117,848,917 | $ 84,027,323 |
COMPOSITION OF THE MAIN ITEM_18
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Net income from financial instruments at fair value through profit or loss (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Income from corporate and government securities | $ 16,522,687 | $ 13,548,213 | $ 8,820,689 |
Income from securities issued by the Argentine Central Bank | 1,060,836 | 680,886 | 398,377 |
Derivatives | 663,196 | 3,086,983 | 529,542 |
Total | $ 18,246,719 | $ 17,316,082 | $ 9,748,608 |
COMPOSITION OF THE MAIN ITEM_19
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Service fee income (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Commissions from deposits accounts | $ 12,250,189 | $ 12,655,098 | $ 13,605,729 |
Commissions from credit and debit cards | 9,546,677 | 9,714,194 | 10,036,236 |
Commissions from loans operations | 305,141 | 308,447 | 484,704 |
Others Commissions | 8,237,061 | 9,785,059 | 9,667,934 |
Total | $ 30,339,068 | $ 32,462,798 | $ 33,794,603 |
COMPOSITION OF THE MAIN ITEM_20
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Service fee expenses (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Commissions paid | $ 10,470,112 | $ 9,657,854 | $ 10,202,182 |
Export and foreign currency operations | 253,043 | 238,577 | 230,580 |
Total | $ 10,723,155 | $ 9,896,431 | $ 10,432,762 |
COMPOSITION OF THE MAIN ITEM_21
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Income from insurance activities (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Accrued premiums | $ 6,420,960 | $ 6,957,274 | $ 6,765,070 |
Accrued losses | (1,017,709) | (1,357,796) | (907,941) |
Production expenses | (876,879) | (1,175,246) | (942,651) |
Total | $ 4,526,372 | $ 4,424,232 | $ 4,914,478 |
COMPOSITION OF THE MAIN ITEM_22
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other operating incomes (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other operating income | |||
Total | $ 10,491,417 | $ 10,473,784 | $ 11,112,493 |
Loans recovered and allowances reversed [member] | |||
Other operating income | |||
Total | 3,252,298 | 3,338,184 | 1,683,227 |
Insurance commissions [member] | |||
Other operating income | |||
Total | 493 | 151,497 | |
Rental from safety boxes [member] | |||
Other operating income | |||
Total | 762,668 | 748,974 | 1,000,573 |
Commissions from trust services [member] | |||
Other operating income | |||
Total | 81,322 | 86,860 | 28,339 |
Adjustment of Various Credits [Member] | |||
Other operating income | |||
Total | 437,737 | 333,772 | 626,057 |
Sale of fixed assets [member] | |||
Other operating income | |||
Total | 28,614 | 17,444 | 393,942 |
Other | |||
Other operating income | |||
Total | $ 4,365,792 | $ 3,531,683 | $ 3,654,276 |
COMPOSITION OF THE MAIN ITEM_23
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Personnel expenses (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Payroll and social securities | $ 49,541,757 | $ 46,179,965 | $ 49,051,781 |
Others expenses | 4,350,789 | 3,670,186 | 4,392,569 |
Total | $ 53,892,546 | $ 49,850,151 | $ 53,444,350 |
COMPOSITION OF THE MAIN ITEM_24
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Administration expenses (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT | |||
Directors' and statutory auditors' fees | $ 797,886 | $ 792,637 | $ 1,004,188 |
Professional fees | 8,305,036 | 8,755,543 | 8,949,970 |
Advertising and publicity | 2,213,501 | 2,237,122 | 2,024,957 |
Taxes | 6,451,913 | 6,586,781 | 5,462,877 |
Maintenance, security and services | 6,923,964 | 8,019,296 | 8,301,300 |
Rent | 78,955 | 152,868 | 211,843 |
Others | 3,791,566 | 3,367,374 | 4,383,899 |
Total | $ 28,562,821 | $ 29,911,621 | $ 30,339,034 |
COMPOSITION OF THE MAIN ITEM_25
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Depreciation and impairment of non-financial assets (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation and impairment of non-financial assets | |||
Total | $ 10,098,597 | $ 8,230,289 | $ 7,077,240 |
Depreciation of property, plant and equipment [member] | |||
Depreciation and impairment of non-financial assets | |||
Total | 1,801,538 | 1,621,521 | 1,538,369 |
Depreciation of other non financial assets [member] | |||
Depreciation and impairment of non-financial assets | |||
Total | 749,390 | 585,375 | 688,436 |
Depreciation of intangible assets [member] | |||
Depreciation and impairment of non-financial assets | |||
Total | 4,894,310 | 3,958,213 | 2,555,881 |
Right of use assets | |||
Depreciation and impairment of non-financial assets | |||
Total | 1,914,585 | 2,064,570 | $ 2,294,554 |
Impairment of other non-financial assets [member] | |||
Depreciation and impairment of non-financial assets | |||
Total | $ 610 | ||
Impairment of goodwill [member] | |||
Depreciation and impairment of non-financial assets | |||
Total | $ 738,774 |
COMPOSITION OF THE MAIN ITEM_26
COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT - Other operating expenses (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other operating expenses | |||
Total | $ 26,629,090 | $ 23,079,185 | $ 19,331,429 |
Promotions related with credit cards [member] | |||
Other operating expenses | |||
Total | 1,734,064 | 1,771,342 | 1,544,669 |
Turnover tax [member] | |||
Other operating expenses | |||
Total | 17,218,668 | 15,858,707 | 11,615,533 |
Fair value on initial recognition of loans [member] | |||
Other operating expenses | |||
Total | 154,086 | 383,330 | 574,696 |
Contributions made to deposit insurance system [member] | |||
Other operating expenses | |||
Total | 895,057 | 957,301 | 852,123 |
Other operating expenses [member] | |||
Other operating expenses | |||
Total | $ 6,627,215 | $ 4,108,505 | $ 4,744,408 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of commitments and contingencies [line items] | ||
Provisions | $ 1,691,656 | $ 1,779,769 |
Legal issues | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 197,158 | 141,755 |
Labor lawsuits | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 580,669 | 624,610 |
Tax | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 181,830 | 277,032 |
Unused Balances Credit Cards | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 455,424 | 404,901 |
Charges to be paid to National Social Security Administration | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 135,676 | 105,301 |
Judicial Deposits | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 47,448 | 53,373 |
Eventual commitments | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | 87,249 | 116,256 |
Others. | ||
Disclosure of commitments and contingencies [line items] | ||
Provisions | $ 6,202 | $ 56,541 |
RELATED PARTY TRANSACTIONS - Fi
RELATED PARTY TRANSACTIONS - Financial Exposure (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 ARS ($) individual company Counterparty | Dec. 31, 2021 ARS ($) Counterparty individual company | |
Disclosure of transactions between related parties [line items] | ||
Aggregate total financial exposure | $ 673,747 | $ 476,728 |
Number of recipient related parties | Counterparty | 80 | 79 |
Average total financial exposure | $ 8,422 | $ 6,035 |
Single largest financial exposure | $ 358,255 | $ 446,417 |
Individuals [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of recipient related parties | individual | 70 | 69 |
Companies [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of recipient related parties | company | 10 | 10 |
RELATED PARTY TRANSACTIONS - Co
RELATED PARTY TRANSACTIONS - Controlling Interest (Details) - Julio Patricio Supervielle [member] | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transactions between related parties [line items] | ||
Capital interest | 35.12% | 35.12% |
Vote's interest | 35.12% | 35.12% |
INSURANCE - Assets and liabilit
INSURANCE - Assets and liabilities (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets related to insurance contracts ( (i) included within Loans and other financing) | ||
Receivable premiums | $ 2,089 | $ 5,931 |
Commissions receivables | 1,754,250 | 1,673,423 |
Total | 1,756,339 | 1,679,354 |
Liabilities related to insurance contracts ( (ii) included within Other non-financial liabilities) | ||
Debt with insured | 304,775 | 380,369 |
Debt with reinsurers | 64,079 | 51,505 |
Debt with producers | 334,779 | 484,538 |
Technical commitments | 746,211 | 677,896 |
Outstanding claims paid by re-insurance companies | (1,621) | (2,734) |
commissions to pay | 4,217 | 6,910 |
Total | $ 1,452,440 | $ 1,598,484 |
INSURANCE - Liabilities (Detail
INSURANCE - Liabilities (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Insurance | ||
Total | $ 304,775 | $ 380,369 |
Producers current account | 37,480 | 45,063 |
Commission for premium receivable | 297,299 | 439,475 |
Total | 334,779 | 484,538 |
Premiums and surcharges | 746,115 | 667,367 |
Premiums insufficiency | 96 | 10,529 |
Total | 746,211 | 677,896 |
Property insurance | ||
Insurance | ||
Direct administrative insurance | 79,020 | 73,772 |
Direct insurance in judgments | 2,664 | 5,141 |
Direct insurance in mediation | 49 | |
Claims settled to pay | 140 | 273 |
Claims occurred and not reported - IBNR | 551 | 13,986 |
Life insurance | ||
Insurance | ||
Direct administrative insurance | 119,722 | 160,973 |
Direct insurance in judgments | 2,041 | 2,823 |
Direct insurance in mediation | 383 | 793 |
Claims settled to pay | 20,884 | 32,396 |
Claims occurred and not reported - IBNR | $ 79,370 | $ 90,163 |
ASSET MANAGEMENT AND OTHER SE_3
ASSET MANAGEMENT AND OTHER SERVICES (Details) $ in Thousands | Dec. 31, 2022 ARS ($) instrument | Dec. 31, 2021 ARS ($) instrument |
Premier Renta C.P. Pesos | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 101,661,606 | $ 98,135,716 |
Mutual Funds, Net Worth | $ 101,528,063 | $ 97,995,350 |
Number of Units | instrument | 16,191,115,975 | 11,713,447,317 |
Premier Renta Plus en Pesos | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 671,186 | $ 580,351 |
Mutual Funds, Net Worth | $ 669,226 | $ 576,890 |
Number of Units | instrument | 21,721,110 | 15,706,691 |
Premier Renta Fija Ahorro | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 12,905,041 | $ 17,957,707 |
Mutual Funds, Net Worth | $ 12,775,831 | $ 17,840,745 |
Number of Units | instrument | 712,483,562 | 2,136,780,683 |
Premier Renta Fija Crecimiento | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 205,918 | $ 222,501 |
Mutual Funds, Net Worth | $ 205,377 | $ 221,883 |
Number of Units | instrument | 4,920,585 | 4,571,392 |
Premier Renta Variable | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 599,412 | $ 798,301 |
Mutual Funds, Net Worth | $ 584,246 | $ 792,070 |
Number of Units | instrument | 5,946,886 | 8,944,577 |
Premier FCI Abierto Pymes | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 1,282,598 | $ 2,028,648 |
Mutual Funds, Net Worth | $ 1,236,395 | $ 2,024,425 |
Number of Units | instrument | 75,458,259 | 99,988,028 |
Premier Commodities | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 1,048,467 | $ 582,665 |
Mutual Funds, Net Worth | $ 804,068 | $ 439,031 |
Number of Units | instrument | 24,979,798 | 15,200,277 |
Premier Capital | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 6,688,744 | $ 2,801,114 |
Mutual Funds, Net Worth | $ 6,650,992 | $ 2,768,095 |
Number of Units | instrument | 476,377,885 | 180,998,028 |
Premier Inversin | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 1,264,380 | $ 2,563,981 |
Mutual Funds, Net Worth | $ 1,263,772 | $ 2,562,732 |
Number of Units | instrument | 1,052,023,732 | 1,965,594,347 |
Premier Balanceado | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 1,689,536 | $ 2,343,765 |
Mutual Funds, Net Worth | $ 1,370,786 | $ 2,341,934 |
Number of Units | instrument | 102,340,389 | 169,137,724 |
Premier Renta Mixta | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 3,805,353 | $ 7,166,782 |
Mutual Funds, Net Worth | $ 3,796,118 | $ 6,390,810 |
Number of Units | instrument | 616,247,881 | 850,150,799 |
Premier Renta Mixta en USD | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 283,405 | $ 262,797 |
Mutual Funds, Net Worth | $ 237,883 | $ 261,196 |
Number of Units | instrument | 2,569,639 | 2,122,092 |
Premier Performance en USD | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 542,190 | $ 1,016,561 |
Mutual Funds, Net Worth | $ 537,053 | $ 1,009,157 |
Number of Units | instrument | 4,468,523 | 6,455,272 |
Premier Global USD | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 66,246 | $ 517,589 |
Mutual Funds, Net Worth | $ 65,360 | $ 516,588 |
Number of Units | instrument | 321,553 | 2,430,000 |
Premier Estratgico | ||
Disclosure of mutual funds portfolio [line items] | ||
Portfolio | $ 1,465,984 | |
Mutual Funds, Net Worth | $ 1,464,690 | |
Number of Units | instrument | 832,710,848 |
CONTRIBUTION TO THE DEPOSIT I_2
CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM - (Details) - ARS ($) $ in Thousands | May 01, 2020 | Mar. 31, 2019 |
CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM | ||
Insurance coverage of demand and time deposits | $ 1,500 | $ 1,000 |
RESTRICTED ASSETS (Details)
RESTRICTED ASSETS (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
RESTRICTED ASSETS | ||
Special guarantee accounts in the Argentine Central Bank | $ 10,294,615 | $ 12,691,876 |
Guarantee deposits for currency forward transactions | 2,703,808 | 2,544,378 |
Guarantee deposits for credit cards transactions | 998,480 | 1,298,832 |
Other guarantee deposits | 471,762 | 100,123 |
Financial assets in guarantee | $ 14,468,665 | $ 16,635,209 |
FINANCIAL TRUSTS - Summary of T
FINANCIAL TRUSTS - Summary of Trustee (Details) - Fideicomiso de Administracin Interconexin Financial Trust | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Financial Trust | |
Term of the trust fund | 24 months |
Period of expiration of liabilities through disbursements | 30 days |
Amount of fine at the exchange rate in force | $ 6,000 |
FINANCIAL TRUSTS - Micro Lendin
FINANCIAL TRUSTS - Micro Lending (Details) - Dec. 31, 2022 ₫ in Thousands, $ in Thousands | ARS ($) | VND (₫) |
Micro Lending Trust Financial Trust, III | ||
Financial Trust | ||
Securitized Amount | $ | $ 39,779 | |
Micro Lending Trust Financial Trust, III | VDF TV A vto 03/12/13 [member] | ||
Financial Trust | ||
Securities issued | ₫ 31,823 | |
Micro Lending Trust Financial Trust, III | VDF B Vto: 11/12/13 [member] | ||
Financial Trust | ||
Securities issued | 6,364 | |
Micro Lending Trust Financial Trust, III | CP Vto: 10/12/16 [member] | ||
Financial Trust | ||
Securities issued | 1,592 | |
Micro Lending Financial Trusts, IV | ||
Financial Trust | ||
Securitized Amount | $ | $ 40,652 | |
Micro Lending Financial Trusts, IV | VDF TV A Vto: 06/20/13, Vto: 01/15/19 | ||
Financial Trust | ||
Securities issued | 32,522 | |
Micro Lending Financial Trusts, IV | VDF B Vto: 10/20/13 [member] | ||
Financial Trust | ||
Securities issued | 6,504 | |
Micro Lending Financial Trusts, IV | CP Vto: 06/29/17 [member] | ||
Financial Trust | ||
Securities issued | ₫ 1,626 |
ISSUANCE OF DEBT SECURITIES (De
ISSUANCE OF DEBT SECURITIES (Details) - Banco Supervielle S.A. | Dec. 31, 2022 USD ($) | Dec. 31, 2022 ARS ($) | Dec. 31, 2021 ARS ($) | Apr. 25, 2016 ARS ($) | Mar. 25, 2013 ARS ($) |
Global Program for Issuance of Negotiable Obligations [member] | |||||
ISSUANCE OF DEBT SECURITIES | |||||
Maximum amount can be issued | $ 2,300,000,000 | ||||
Borrowings | $ 561,409,000 | $ 2,063,327,000 | |||
Subordinated Negotiable Obligations, Global Program for the Issuance of Negotiable Obligations | |||||
ISSUANCE OF DEBT SECURITIES | |||||
Maximum amount can be issued | $ 2,000,000 | $ 750,000 | |||
Borrowings | $ 0 | $ 0 |
ISSUANCE OF DEBT SECURITIES - O
ISSUANCE OF DEBT SECURITIES - Outstanding unsubordinated debt securities (Details) - Banco Supervielle S.A. - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Banco Supervielle Class E, 02/14/2018 | ||
ISSUANCE OF DEBT SECURITIES | ||
Borrowings | $ 561,409 | $ 2,063,327 |
Borrowings, adjustment to interest rate basis | 4.05% | |
Global Program for Issuance of Negotiable Obligations [member] | ||
ISSUANCE OF DEBT SECURITIES | ||
Borrowings | $ 561,409 | $ 2,063,327 |
RESTRICTIONS IMPOSED ON THE D_3
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS - Paragraphs (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||||
Mar. 09, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | $ 92,346,033 | $ 100,416,698 | $ 104,906,281 | $ 93,808,632 | |
Profit Distribution Rate | 40% | ||||
Capital Stock | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 444,411 | 456,722 | 456,722 | 456,722 | |
Inflation adjustment of capital Stock | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 8,794,280 | 9,614,506 | 9,614,506 | 9,614,506 | |
Paid in Capital | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 84,849,949 | 84,849,949 | 84,849,949 | 97,838,441 | |
Treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 12,311 | ||||
Inflation adjustment of treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 820,226 | ||||
Cost of treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | (123,776) | ||||
Legal Reserve | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 1,035,976 | 1,035,976 | 562,471 | ||
Other Reserves | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 5,164,440 | 7,993,828 | 41,310,811 | ||
Retained earnings | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | (10,151,271) | (7,453,864) | 5,957,325 | (57,636,427) | |
Other Comprehensive Income | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 2,685,921 | $ 3,839,887 | $ 3,944,412 | $ 1,583,651 | |
Argentine Central Bank [member] | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 92,840,716 | ||||
Argentine Central Bank [member] | Capital Stock | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 444,411 | ||||
Argentine Central Bank [member] | Inflation adjustment of capital Stock | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 8,794,281 | ||||
Argentine Central Bank [member] | Paid in Capital | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 84,849,949 | ||||
Argentine Central Bank [member] | Treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 12,311 | ||||
Argentine Central Bank [member] | Inflation adjustment of treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 820,226 | ||||
Argentine Central Bank [member] | Cost of treasury shares | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | (1,383,270) | ||||
Argentine Central Bank [member] | Legal Reserve | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 1,035,973 | ||||
Argentine Central Bank [member] | Other Reserves | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | 5,164,443 | ||||
Argentine Central Bank [member] | Retained earnings | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | (7,931,870) | ||||
Argentine Central Bank [member] | Other Comprehensive Income | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Total shareholders' equity attributable to the owners of the parent under the rules of the Argentine Central Bank | $ 1,034,262 | ||||
Banco Supervielle S.A. | |||||
RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF DIVIDENDS | |||||
Percentage of Profit shown In income Statement | 20% |
LOANS AND OTHER FINANCING - Com
LOANS AND OTHER FINANCING - Composition of loan portfolio (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
LOANS AND OTHER FINANCING | ||
Total | $ 235,591,198 | $ 302,853,393 |
Loans and other financing | ||
LOANS AND OTHER FINANCING | ||
Allowance for loan losses | (12,222,052) | (19,572,466) |
Promissory Notes [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 34,621,031 | 73,970,907 |
Unsecured corporate loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 41,360,994 | 25,419,190 |
Overdrafts | ||
LOANS AND OTHER FINANCING | ||
Total | 14,534,952 | 10,126,136 |
Mortgages [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 25,085,322 | 30,910,326 |
Automobile and other secured loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 7,944,422 | 7,632,868 |
Personal loans | ||
LOANS AND OTHER FINANCING | ||
Total | 38,287,926 | 60,945,994 |
Credit card loans | ||
LOANS AND OTHER FINANCING | ||
Total | 49,341,650 | 60,506,782 |
Foreign Trade Loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 16,228,128 | 26,791,191 |
Other financings [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 6,818,990 | 7,649,951 |
Other receivables from financial transactions [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 2,900,854 | 6,257,308 |
Receivables from financial leases [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 10,688,981 | 12,215,206 |
Sub Total [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 247,813,250 | 322,425,859 |
Stage 1 | ||
LOANS AND OTHER FINANCING | ||
Total | 216,653,508 | 279,020,839 |
Stage 1 | Loans and other financing | ||
LOANS AND OTHER FINANCING | ||
Allowance for loan losses | (3,035,675) | (3,555,515) |
Stage 1 | Promissory Notes [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 34,148,294 | 72,323,806 |
Stage 1 | Unsecured corporate loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 39,685,295 | 21,969,956 |
Stage 1 | Overdrafts | ||
LOANS AND OTHER FINANCING | ||
Total | 14,159,148 | 9,625,551 |
Stage 1 | Mortgages [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 22,370,809 | 27,924,803 |
Stage 1 | Automobile and other secured loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 6,272,346 | 6,309,306 |
Stage 1 | Personal loans | ||
LOANS AND OTHER FINANCING | ||
Total | 29,555,460 | 48,402,450 |
Stage 1 | Credit card loans | ||
LOANS AND OTHER FINANCING | ||
Total | 40,850,222 | 52,516,363 |
Stage 1 | Foreign Trade Loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 12,897,902 | 19,206,386 |
Stage 1 | Other financings [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 6,590,309 | 7,015,741 |
Stage 1 | Other receivables from financial transactions [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 2,711,989 | 5,958,063 |
Stage 1 | Receivables from financial leases [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 10,447,409 | 11,323,929 |
Stage 1 | Sub Total [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 219,689,183 | 282,576,354 |
Stage 2 | ||
LOANS AND OTHER FINANCING | ||
Total | 15,828,029 | 18,813,151 |
Stage 2 | Loans and other financing | ||
LOANS AND OTHER FINANCING | ||
Allowance for loan losses | (2,926,254) | (5,147,174) |
Stage 2 | Promissory Notes [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 338,608 | 1,309,431 |
Stage 2 | Unsecured corporate loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 350,203 | 842,893 |
Stage 2 | Overdrafts | ||
LOANS AND OTHER FINANCING | ||
Total | 202,393 | 272,572 |
Stage 2 | Mortgages [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 2,004,852 | 2,360,621 |
Stage 2 | Automobile and other secured loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 1,266,879 | 793,917 |
Stage 2 | Personal loans | ||
LOANS AND OTHER FINANCING | ||
Total | 6,148,950 | 7,542,402 |
Stage 2 | Credit card loans | ||
LOANS AND OTHER FINANCING | ||
Total | 6,136,469 | 5,207,835 |
Stage 2 | Foreign Trade Loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 1,849,831 | 4,278,282 |
Stage 2 | Other financings [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 162,289 | 472,294 |
Stage 2 | Other receivables from financial transactions [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 90,951 | 78,529 |
Stage 2 | Receivables from financial leases [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 202,858 | 801,549 |
Stage 2 | Sub Total [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 18,754,283 | 23,960,325 |
Stage 3 | ||
LOANS AND OTHER FINANCING | ||
Total | 3,109,661 | 5,019,403 |
Stage 3 | Loans and other financing | ||
LOANS AND OTHER FINANCING | ||
Allowance for loan losses | (6,260,123) | (10,869,777) |
Stage 3 | Promissory Notes [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 134,129 | 337,670 |
Stage 3 | Unsecured corporate loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 1,325,496 | 2,606,341 |
Stage 3 | Overdrafts | ||
LOANS AND OTHER FINANCING | ||
Total | 173,411 | 228,013 |
Stage 3 | Mortgages [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 709,661 | 624,902 |
Stage 3 | Automobile and other secured loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 405,197 | 529,645 |
Stage 3 | Personal loans | ||
LOANS AND OTHER FINANCING | ||
Total | 2,583,516 | 5,001,142 |
Stage 3 | Credit card loans | ||
LOANS AND OTHER FINANCING | ||
Total | 2,354,959 | 2,782,584 |
Stage 3 | Foreign Trade Loans [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 1,480,395 | 3,306,523 |
Stage 3 | Other financings [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 66,392 | 161,916 |
Stage 3 | Other receivables from financial transactions [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 97,914 | 220,716 |
Stage 3 | Receivables from financial leases [member] | ||
LOANS AND OTHER FINANCING | ||
Total | 38,714 | 89,728 |
Stage 3 | Sub Total [member] | ||
LOANS AND OTHER FINANCING | ||
Total | $ 9,369,784 | $ 15,889,180 |
LOANS AND OTHER FINANCING - Cha
LOANS AND OTHER FINANCING - Changes in gross carrying amount and corresponding expected credit losses (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | $ 302,853,393 | |
Balance at the end of the year | 235,591,198 | $ 302,853,393 |
Gross carrying amount | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 322,425,859 | 334,657,836 |
Additions | 142,439,616 | |
Disposals | (76,937,800) | |
Net changes of financial assets | (133,374,585) | (447,794) |
Write-offs | (12,639,953) | (14,815,065) |
Exchange Differences and Others | 5,900,113 | 3,030,882 |
Balance at the end of the year | 247,813,250 | 322,425,859 |
Stage 1 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 279,020,839 | |
Balance at the end of the year | 216,653,508 | 279,020,839 |
Stage 1 | Gross carrying amount | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 282,576,354 | 283,660,430 |
Transfers 1 to 2 | (4,339,851) | (5,272,473) |
1 to 3 | (674,849) | (3,251,536) |
2 to 1 | 3,616,758 | 4,815,840 |
3 to 1 | 210,929 | 1,069,850 |
Additions | 130,836,311 | |
Disposals | (70,170,490) | |
Net changes of financial assets | (125,950,841) | 2,149,875 |
Write-offs | (1,417,679) | (2,844,265) |
Exchange Differences and Others | 5,002,541 | 2,248,633 |
Balance at the end of the year | 219,689,183 | 282,576,354 |
Stage 2 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 18,813,151 | |
Balance at the end of the year | 15,828,029 | 18,813,151 |
Stage 2 | Gross carrying amount | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 23,960,325 | 28,956,778 |
Transfers 1 to 2 | 4,339,851 | 5,272,473 |
2 to 3 | (530,731) | (673,799) |
2 to 1 | (3,616,758) | (4,815,840) |
3 to 2 | 235,228 | 849,906 |
Additions | 8,708,725 | |
Disposals | (4,378,611) | |
Net changes of financial assets | (8,211,017) | (4,301,164) |
Write-offs | (1,955,244) | (1,807,285) |
Exchange Differences and Others | 202,515 | 479,256 |
Balance at the end of the year | 18,754,283 | 23,960,325 |
Stage 3 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 5,019,403 | |
Balance at the end of the year | 3,109,661 | 5,019,403 |
Stage 3 | Gross carrying amount | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 15,889,180 | 22,040,628 |
1 to 3 | 674,849 | 3,251,536 |
2 to 3 | 530,731 | 673,799 |
3 to 2 | (235,228) | (849,906) |
3 to 1 | (210,929) | (1,069,850) |
Additions | 2,894,580 | |
Disposals | (2,388,699) | |
Net changes of financial assets | 787,273 | 1,703,495 |
Write-offs | (9,267,030) | (10,163,515) |
Exchange Differences and Others | 695,057 | 302,993 |
Balance at the end of the year | 9,369,784 | 15,889,180 |
Expected credit losses [member] | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 19,572,466 | 24,770,682 |
Transfers 1 to 2 | 807,961 | 1,158,314 |
1 to 3 | 1,246,662 | 4,434,699 |
2 to 3 | 673,075 | 353,100 |
2 to 1 | (1,297,898) | (668,256) |
3 to 2 | (238,165) | (632,756) |
3 to 1 | (202,111) | (565,711) |
Additions | 9,078,460 | |
Disposals | (5,572,174) | |
Net changes of financial assets | (60,539) | 5,402,071 |
Write-offs | (12,639,953) | (14,815,066) |
Exchange Differences and Others | 854,268 | 135,389 |
Balance at the end of the year | 12,222,052 | 19,572,466 |
Expected credit losses [member] | Stage 1 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 3,555,515 | 5,457,993 |
Transfers 1 to 2 | (122,595) | (280,039) |
1 to 3 | (24,667) | (415,455) |
2 to 1 | (4,539) | 55,760 |
3 to 1 | (58,052) | (1,556) |
Additions | 2,032,680 | |
Disposals | (824,470) | |
Net changes of financial assets | (237,515) | 1,532,578 |
Write-offs | (1,417,679) | (2,844,265) |
Exchange Differences and Others | 136,997 | 50,499 |
Balance at the end of the year | 3,035,675 | 3,555,515 |
Expected credit losses [member] | Stage 2 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 5,147,174 | 5,847,347 |
Transfers 1 to 2 | 930,556 | 1,438,353 |
2 to 3 | (179,202) | (418,256) |
2 to 1 | (1,293,359) | (724,016) |
3 to 2 | (54,830) | 200,549 |
Additions | 2,262,129 | |
Disposals | (1,518,666) | |
Net changes of financial assets | (508,239) | 554,927 |
Write-offs | (1,955,244) | (1,807,286) |
Exchange Differences and Others | 95,935 | 55,556 |
Balance at the end of the year | 2,926,254 | 5,147,174 |
Expected credit losses [member] | Stage 3 | ||
LOANS AND OTHER FINANCING | ||
Balance at the beginning of the year | 10,869,777 | 13,465,342 |
1 to 3 | 1,271,329 | 4,850,154 |
2 to 3 | 852,277 | 771,356 |
3 to 2 | (183,335) | (833,305) |
3 to 1 | (144,059) | (564,155) |
Additions | 4,783,651 | |
Disposals | (3,229,038) | |
Net changes of financial assets | 685,215 | 3,314,566 |
Write-offs | (9,267,030) | (10,163,515) |
Exchange Differences and Others | 621,336 | 29,334 |
Balance at the end of the year | $ 6,260,123 | $ 10,869,777 |
LOANS AND OTHER FINANCING - Fin
LOANS AND OTHER FINANCING - Financial Assets (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | $ 621,065,731 | $ 686,714,111 |
Gross carrying amount | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 247,813,250 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 6,260,123 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Overdrafts | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 129,221 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Financial Lease | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 14,775 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Documents | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 69,054 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Mortgage loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 399,025 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Personal loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,263,733 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Pledge loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 292,372 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Credit card loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,175,042 | |
Guarantees Financials Assets Credit Impaired [Member] | Allowances for loans losses | Other | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 916,900 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 9,369,784 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Overdrafts | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 173,411 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Financial Lease | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 38,714 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Documents | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 134,129 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Mortgage loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 709,661 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Personal loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,583,516 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Pledge loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 405,197 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Credit card loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,354,959 | |
Guarantees Financials Assets Credit Impaired [Member] | Gross carrying amount | Other | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,970,197 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,527,264 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | Financial Lease | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 32,809 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | Documents | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 106,568 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | Mortgage loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 221,767 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | Pledge loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 112,825 | |
Guarantees Financials Assets Credit Impaired [Member] | Fair value [member] | Other | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 2,053,295 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 3,109,661 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Overdrafts | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 44,190 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Financial Lease | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 23,939 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Documents | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 65,075 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Mortgage loans [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 310,636 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Personal loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 319,783 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Pledge loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 112,825 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Credit card loans | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | 179,917 | |
Guarantees Financials Assets Credit Impaired [Member] | Book value | Other | ||
Disclosure of detailed information about borrowings [line items] | ||
Financial assets | $ 2,053,297 |
LOANS AND OTHER FINANCING - Wit
LOANS AND OTHER FINANCING - Withdrawal of financial assets from its balance sheet (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
LOANS AND OTHER FINANCING | ||
Contractual amounts pending of collection of such withdrawn assets | $ 7,865,755 | $ 15,387,785 |
Balance at the beginning of the year | 15,387,785 | 21,164,081 |
Additions | 12,639,953 | 14,815,066 |
Disposals | (9,711,831) | (6,320,836) |
Cash collection | (1,924,172) | (2,129,966) |
Portfolio sales | (528,944) | (1,040,168) |
Condonation | (7,258,715) | (3,150,702) |
Exchange differences and other movements | (10,450,132) | (14,270,525) |
Gross carrying amount | $ 7,865,775 | $ 15,387,785 |
RISK MANAGEMENT POLICIES - Maxi
RISK MANAGEMENT POLICIES - Maximum credit risk exposure (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | $ 322,288,614 | $ 408,866,274 |
Promissory Notes [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 34,621,031 | 73,970,907 |
Unsecured corporate loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 41,360,994 | 25,419,190 |
Overdrafts | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 19,263,752 | 26,659,241 |
Mortgage loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 25,085,322 | 30,910,326 |
Automobile and other secured loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 7,944,422 | 7,632,868 |
Receivables from financial leases [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 10,991,914 | 12,215,207 |
Foreign Trade Loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 16,228,128 | 26,791,191 |
Other financings [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 13,323,476 | 8,926,583 |
Other receivables from financial transactions [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,598,999 | 6,258,546 |
Personal loans | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 38,287,926 | 60,945,994 |
Personal loans | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 38,287,926 | 48,160,646 |
Personal loans | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 12,785,348 | |
Credit card loans | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 112,582,650 | 129,136,221 |
Credit card loans | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 112,582,650 | 106,699,695 |
Credit card loans | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 22,436,526 | |
Stage 1 | 12-month ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 290,630,821 | 365,645,828 |
Stage 1 | 12-month ECL [member] | Promissory Notes [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 34,148,294 | 72,323,806 |
Stage 1 | 12-month ECL [member] | Unsecured corporate loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 39,685,295 | 21,969,956 |
Stage 1 | 12-month ECL [member] | Overdrafts | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 18,834,132 | 25,885,935 |
Stage 1 | 12-month ECL [member] | Mortgage loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 22,370,809 | 27,924,802 |
Stage 1 | 12-month ECL [member] | Automobile and other secured loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 6,272,346 | 6,309,306 |
Stage 1 | 12-month ECL [member] | Receivables from financial leases [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 10,750,341 | 11,323,930 |
Stage 1 | 12-month ECL [member] | Foreign Trade Loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 12,897,902 | 19,206,386 |
Stage 1 | 12-month ECL [member] | Other financings [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 13,094,711 | 8,283,198 |
Stage 1 | 12-month ECL [member] | Other receivables from financial transactions [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,410,136 | 5,959,301 |
Stage 1 | Personal loans | 12-month ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 29,555,460 | 48,402,450 |
Stage 1 | Personal loans | 12-month ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 29,555,460 | 40,015,365 |
Stage 1 | Personal loans | 12-month ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 8,387,085 | |
Stage 1 | Credit card loans | 12-month ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 100,611,395 | 118,056,758 |
Stage 1 | Credit card loans | 12-month ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 100,611,395 | 98,621,271 |
Stage 1 | Credit card loans | 12-month ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 19,435,487 | |
Stage 2 | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 22,288,009 | 27,331,265 |
Stage 2 | Lifetime ECL [member] | Promissory Notes [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 338,608 | 1,309,431 |
Stage 2 | Lifetime ECL [member] | Unsecured corporate loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 350,203 | 842,893 |
Stage 2 | Lifetime ECL [member] | Overdrafts | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 256,209 | 545,292 |
Stage 2 | Lifetime ECL [member] | Mortgage loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,004,852 | 2,360,621 |
Stage 2 | Lifetime ECL [member] | Automobile and other secured loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 1,266,879 | 793,917 |
Stage 2 | Lifetime ECL [member] | Receivables from financial leases [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 202,858 | 801,549 |
Stage 2 | Lifetime ECL [member] | Foreign Trade Loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 1,849,831 | 4,278,282 |
Stage 2 | Lifetime ECL [member] | Other financings [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 162,372 | 481,468 |
Stage 2 | Lifetime ECL [member] | Other receivables from financial transactions [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 90,951 | 78,529 |
Stage 2 | Personal loans | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 6,148,950 | 7,542,402 |
Stage 2 | Personal loans | Lifetime ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 6,148,950 | 6,519,568 |
Stage 2 | Personal loans | Lifetime ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 1,022,834 | |
Stage 2 | Credit card loans | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 9,616,296 | 8,296,881 |
Stage 2 | Credit card loans | Lifetime ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 9,616,296 | 7,336,223 |
Stage 2 | Credit card loans | Lifetime ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 960,658 | |
Stage 3 | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 9,369,784 | 15,889,181 |
Stage 3 | Lifetime ECL [member] | Promissory Notes [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 134,129 | 337,670 |
Stage 3 | Lifetime ECL [member] | Unsecured corporate loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 1,325,496 | 2,606,341 |
Stage 3 | Lifetime ECL [member] | Overdrafts | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 173,411 | 228,014 |
Stage 3 | Lifetime ECL [member] | Mortgage loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 709,661 | 624,903 |
Stage 3 | Lifetime ECL [member] | Automobile and other secured loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 405,197 | 529,645 |
Stage 3 | Lifetime ECL [member] | Receivables from financial leases [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 38,715 | 89,728 |
Stage 3 | Lifetime ECL [member] | Foreign Trade Loans [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 1,480,395 | 3,306,523 |
Stage 3 | Lifetime ECL [member] | Other financings [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 66,393 | 161,917 |
Stage 3 | Lifetime ECL [member] | Other receivables from financial transactions [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 97,912 | 220,716 |
Stage 3 | Personal loans | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,583,516 | 5,001,142 |
Stage 3 | Personal loans | Lifetime ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,583,516 | 1,625,713 |
Stage 3 | Personal loans | Lifetime ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 3,375,429 | |
Stage 3 | Credit card loans | Lifetime ECL [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | 2,354,959 | 2,782,582 |
Stage 3 | Credit card loans | Lifetime ECL [member] | Retail [member] | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | $ 2,354,959 | 742,201 |
Stage 3 | Credit card loans | Lifetime ECL [member] | Consumer finance | ||
Maximum Credit Risk Exposure | ||
Maximum credit risk exposure | $ 2,040,381 |
RISK MANAGEMENT POLICIES - Expo
RISK MANAGEMENT POLICIES - Exposure to the Group's exchange risk by currency type (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Exchange rate risk | ||
Assets | $ 621,065,731 | $ 686,714,111 |
Liabilities | 573,852,672 | 626,461,386 |
Exchange rate risk [member] | ||
Exchange rate risk | ||
Assets | 69,799,091 | 82,660,112 |
Liabilities | 61,901,898 | 72,629,447 |
Derivatives | 55,699 | 14,350 |
Net position | 7,952,892 | 10,045,015 |
Exchange rate risk [member] | US Dollar [member] | ||
Exchange rate risk | ||
Assets | 67,887,912 | 80,251,834 |
Liabilities | 60,791,253 | 70,947,953 |
Derivatives | 55,699 | 14,350 |
Net position | 7,152,358 | 9,318,231 |
Exchange rate risk [member] | Euro [member] | ||
Exchange rate risk | ||
Assets | 1,432,907 | 1,798,095 |
Liabilities | 1,098,753 | 1,666,068 |
Net position | 334,154 | 132,027 |
Exchange rate risk [member] | Others | ||
Exchange rate risk | ||
Assets | 478,272 | 610,183 |
Liabilities | 11,892 | 15,426 |
Net position | $ 466,380 | $ 594,757 |
RISK MANAGEMENT POLICIES - Sens
RISK MANAGEMENT POLICIES - Sensitivity analysis performed reasonably possible changes in foreign exchange rates (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Foreign currency sensitivity analysis | ||
Exchange rate variation | 85.70% | 52.50% |
Exchange rate variation | (85.70%) | (52.50%) |
Increase in profit loss | $ 6,818,895 | $ 5,269,358 |
Decrease in profit loss | (6,818,895) | (5,269,358) |
Increase in equity | 6,818,895 | 5,269,358 |
Decrease in equity | $ (6,818,895) | $ (5,269,358) |
US Dollar [member] | ||
Foreign currency sensitivity analysis | ||
Exchange rate variation | 85.70% | 52.50% |
Exchange rate variation | (85.70%) | (52.50%) |
Increase in profit loss | $ 6,132,508 | $ 4,888,105 |
Decrease in profit loss | (6,132,508) | (4,888,105) |
Increase in equity | 6,132,508 | 4,888,105 |
Decrease in equity | $ (6,132,508) | $ (4,888,105) |
Euro [member] | ||
Foreign currency sensitivity analysis | ||
Exchange rate variation | 85.70% | 52.50% |
Exchange rate variation | (85.70%) | (52.50%) |
Increase in profit loss | $ 286,507 | $ 69,259 |
Decrease in profit loss | (286,507) | (69,259) |
Increase in equity | 286,507 | 69,259 |
Decrease in equity | $ (286,507) | $ (69,259) |
Other Currency [member] | ||
Foreign currency sensitivity analysis | ||
Exchange rate variation | 85.70% | 52.50% |
Exchange rate variation | (85.70%) | (52.50%) |
Increase in profit loss | $ 399,880 | $ 311,994 |
Decrease in profit loss | (399,880) | (311,994) |
Increase in equity | 399,880 | 311,994 |
Decrease in equity | $ (399,880) | $ (311,994) |
RISK MANAGEMENT POLICIES - Ex_2
RISK MANAGEMENT POLICIES - Exposure to interest rate risk (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Interest rate risk | ||
Total Financial Assets | $ 621,065,731 | $ 686,714,111 |
Total Financial Liabilities | 573,852,672 | 626,461,386 |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 641,812,404 | 698,950,876 |
Total Financial Liabilities | 540,805,531 | 638,521,142 |
Net Amount | 101,006,873 | 60,429,734 |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | Up to 30 [member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 391,057,404 | 327,118,076 |
Total Financial Liabilities | 294,395,625 | 332,718,871 |
Net Amount | 96,661,779 | (5,600,795) |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | From 30 to 90 [member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 50,449,192 | 76,493,228 |
Total Financial Liabilities | 46,241,210 | 83,515,461 |
Net Amount | 4,207,982 | (7,022,233) |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | From 90 to 180 [member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 36,598,283 | 69,505,067 |
Total Financial Liabilities | 34,316,868 | 15,815,948 |
Net Amount | 2,281,415 | 53,689,119 |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | From 180 to 385 [member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 14,101,774 | 45,484,824 |
Total Financial Liabilities | 357,570 | 1,092,601 |
Net Amount | 13,744,204 | 44,392,223 |
Banco Supervielle S A and Cordial Compania Financiera S A [Member] | More than 365 [member] | Interest rate risk [member] | ||
Interest rate risk | ||
Total Financial Assets | 149,605,751 | 180,349,681 |
Total Financial Liabilities | 165,494,258 | 205,378,261 |
Net Amount | $ (15,888,507) | $ (25,028,580) |
RISK MANAGEMENT POLICIES - Se_2
RISK MANAGEMENT POLICIES - Sensitivity to reasonably possible additional variation in interest rates for next year (Details) - Interest rate risk [member] - ARS ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest rate risk | ||
Decrease in the interest rate | $ 147,263,000 | $ 508,225,000 |
Increase in the interest rate | $ 198,390,000 | $ (506,680,000) |
Argentina, Pesos [member] | ||
Interest rate risk | ||
Decrease in the interest rate | 4% | 4% |
Increase in the interest rate | 4% | 4% |
US Dollar [member] | ||
Interest rate risk | ||
Decrease in the interest rate | 2% | 2% |
Increase in the interest rate | 2% | 2% |
RISK MANAGEMENT POLICIES - Conc
RISK MANAGEMENT POLICIES - Concentration of loans and deposits (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Interest rate risk | ||
Loan balance | $ 235,591,198 | $ 302,853,393 |
Deposit, Placement Balance | 547,516,935 | 561,896,707 |
Liquidity risk [member] | ||
Interest rate risk | ||
Loan balance | $ 247,813,250 | $ 322,425,859 |
Loan, percentage to total portfolio | 100% | 100% |
Deposit, Placement Balance | $ 547,516,935 | $ 561,896,707 |
Deposits, percentage to total portfolio | 100% | 100% |
Liquidity risk [member] | 10 Largest Customer [Member] | ||
Interest rate risk | ||
Loan balance | $ 21,912,962 | $ 25,625,797 |
Loan, percentage to total portfolio | 8.80% | 7.90% |
Deposit, Placement Balance | $ 183,536,099 | $ 185,592,666 |
Deposits, percentage to total portfolio | 33.50% | 33% |
Liquidity risk [member] | 50 Following Largest Customer [Member] | ||
Interest rate risk | ||
Loan balance | $ 39,836,474 | $ 41,425,451 |
Loan, percentage to total portfolio | 16.10% | 12.80% |
Deposit, Placement Balance | $ 121,769,699 | $ 94,391,684 |
Deposits, percentage to total portfolio | 22.20% | 16.80% |
Liquidity risk [member] | 100 Following Largest Customers [Member] | ||
Interest rate risk | ||
Loan balance | $ 30,829,050 | $ 33,701,260 |
Loan, percentage to total portfolio | 12.40% | 10.50% |
Deposit, Placement Balance | $ 30,244,413 | $ 29,423,744 |
Deposits, percentage to total portfolio | 5.50% | 5.20% |
Liquidity risk [member] | Rest of Customers [Member] | ||
Interest rate risk | ||
Loan balance | $ 155,234,764 | $ 221,673,351 |
Loan, percentage to total portfolio | 62.60% | 68.80% |
Deposit, Placement Balance | $ 211,966,724 | $ 252,488,613 |
Deposits, percentage to total portfolio | 38.70% | 44.90% |
RISK MANAGEMENT POLICIES - Asse
RISK MANAGEMENT POLICIES - Assets and Liabilities Cash Flows (Details) $ in Thousands | Dec. 31, 2022 ARS ($) |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | $ 479,082,242 |
Liabilities cashflows | 591,075,439 |
Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 134,800,349 |
Liabilities cashflows | 507,078,330 |
From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,924,133 |
Liabilities cashflows | 32,194,227 |
From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,821,269 |
Liabilities cashflows | 45,577,250 |
From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 43,539,498 |
Liabilities cashflows | 2,931,990 |
More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 57,706,654 |
Liabilities cashflows | 1,797,884 |
More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 163,290,339 |
Liabilities cashflows | 1,495,758 |
Deposits | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 561,716,680 |
Deposits | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 485,569,501 |
Deposits | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 30,307,792 |
Deposits | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 44,596,340 |
Deposits | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 1,242,712 |
Deposits | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 335 |
Non-financial public sector | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 28,133,699 |
Non-financial public sector | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 26,076,337 |
Non-financial public sector | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 2,057,362 |
Financial sector [member] | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 101,430 |
Financial sector [member] | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 101,430 |
Non-financial private sector and foreign residents | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 533,481,551 |
Non-financial private sector and foreign residents | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 459,391,734 |
Non-financial private sector and foreign residents | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 28,250,430 |
Non-financial private sector and foreign residents | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 44,596,340 |
Non-financial private sector and foreign residents | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 1,242,712 |
Non-financial private sector and foreign residents | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 335 |
Liabilities at fair value through profit or loss | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 2,139,170 |
Liabilities at fair value through profit or loss | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 2,139,170 |
Other financial liabilities [member] | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 19,011,315 |
Other financial liabilities [member] | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 16,813,041 |
Other financial liabilities [member] | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 204,269 |
Other financial liabilities [member] | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 283,382 |
Other financial liabilities [member] | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 475,660 |
Other financial liabilities [member] | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 595,656 |
Other financial liabilities [member] | More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 639,307 |
Financing received from the Argentine Central Bank and other financial entities [member] | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 7,085,829 |
Financing received from the Argentine Central Bank and other financial entities [member] | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 2,263,340 |
Financing received from the Argentine Central Bank and other financial entities [member] | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 852,999 |
Financing received from the Argentine Central Bank and other financial entities [member] | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 697,528 |
Financing received from the Argentine Central Bank and other financial entities [member] | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 1,213,618 |
Financing received from the Argentine Central Bank and other financial entities [member] | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 1,201,893 |
Financing received from the Argentine Central Bank and other financial entities [member] | More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 856,451 |
Unsubordinated debt securities | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 1,122,445 |
Unsubordinated debt securities | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 293,278 |
Unsubordinated debt securities | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Liabilities cashflows | 829,167 |
Loans and other financing | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 479,082,242 |
Loans and other financing | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 134,800,349 |
Loans and other financing | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,924,133 |
Loans and other financing | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,821,269 |
Loans and other financing | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 43,539,498 |
Loans and other financing | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 57,706,654 |
Loans and other financing | More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 163,290,339 |
To the non-financial public sector | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 908,035 |
To the non-financial public sector | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 37,701 |
To the non-financial public sector | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 67,738 |
To the non-financial public sector | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 70,540 |
To the non-financial public sector | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 143,822 |
To the non-financial public sector | More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 588,234 |
To the financial sector | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 681,813 |
To the financial sector | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 568,717 |
To the financial sector | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 9,524 |
To the financial sector | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 19,826 |
To the financial sector | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 29,434 |
To the financial sector | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 54,312 |
To the Non-Financial Private Sector and Foreign residents | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 477,492,394 |
To the Non-Financial Private Sector and Foreign residents | Less than 1 month | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 134,193,931 |
To the Non-Financial Private Sector and Foreign residents | From 1 to 3 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,846,871 |
To the Non-Financial Private Sector and Foreign residents | From 3 to 6 months | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 39,801,443 |
To the Non-Financial Private Sector and Foreign residents | From 6 months to 1 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 43,439,524 |
To the Non-Financial Private Sector and Foreign residents | More than a year up to two years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | 57,508,520 |
To the Non-Financial Private Sector and Foreign residents | More than 2 years | |
Maturity Analysis for Assets and Liabilities | |
Assets cashflows | $ 162,702,105 |
RISK MANAGEMENT POLICIES - Para
RISK MANAGEMENT POLICIES - Paragraphs (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 ARS ($) factor item | Dec. 31, 2021 ARS ($) | |
Disclosure of Risk Management [line items] | ||
Unrecoverable financial assets eliminated | $ | $ 12,639,953 | $ 14,815,066 |
Interest rate risk [member] | ||
Disclosure of Risk Management [line items] | ||
Number of proposed disturbance scenarios | item | 6 | |
Provision utilization holding period | 90 days | |
Percentage of interest rate confidence level | 99% | |
Alert threshold of basic net worth | 15% | |
Liquidity risk [member] | ||
Disclosure of Risk Management [line items] | ||
Percentage to total portfolio | 100% | 100% |
Number of key factors | factor | 2 | |
Liquidity stress level period | 30 days | |
Minimum liquidity percentage | 70% | |
Individuals [member] | Credit risk [member] | ||
Disclosure of Risk Management [line items] | ||
Percentage of credit risk confidence level | 99.90% | |
Company [member] | Credit risk [member] | ||
Disclosure of Risk Management [line items] | ||
Percentage of credit risk confidence level | 99% |
INTERNATIONAL FINANCING PROGR_2
INTERNATIONAL FINANCING PROGRAMS (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2020 | |
Disclosure of detailed information about financial instruments [line items] | |||
Term | 3 years | ||
Tranche A [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Tranche loan amount | $ 40,000,000 | $ 35,000,000 | |
Tranche A [member] | Three year term loan [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Tranche loan amount | $ 35,000,000 | ||
Tranche A [member] | Five year term loan [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Term | 5 years | ||
Tranche loan amount | $ 5,000,000 | ||
Tranche B [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Tranche loan amount | $ 93,500,000 | ||
Tranche B [member] | Year term loan [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Tranche loan amount | $ 40,000,000 | ||
Tranche B [member] | Two and half year term loan [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Term | 2 years 6 months | ||
Tranche loan amount | $ 53,500,000 |
ASSETS AND LIABILITIES IN FOR_3
ASSETS AND LIABILITIES IN FOREIGN CURRENCY (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | $ 8,878,844 | $ 11,186,088 |
Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 70,985,725 | 84,426,231 |
Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 62,106,881 | 73,240,143 |
US Dollar [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 8,078,310 | |
US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 69,074,546 | |
US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 60,996,236 | |
Euro [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 334,154 | |
Euro [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,432,907 | |
Euro [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,098,753 | |
Real | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 18,659 | |
Real | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 18,686 | |
Real | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 27 | |
Other Currency [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 447,721 | |
Other Currency [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 459,586 | |
Other Currency [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 11,865 | |
Deposits | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 54,960,339 | 56,145,338 |
Deposits | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 54,175,328 | |
Deposits | Euro [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 785,011 | |
Non-financial public sector [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,925,433 | 2,170,078 |
Non-financial public sector [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,925,157 | |
Non-financial public sector [member] | Euro [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 276 | |
Financial sector [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,528 | 430 |
Financial sector [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,528 | |
Non-financial private sector and foreign residents [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 53,033,378 | 53,974,830 |
Non-financial private sector and foreign residents [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 52,248,643 | |
Non-financial private sector and foreign residents [member] | Euro [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 784,735 | |
Liabilities at fair value with changes in results [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 869,077 | 1,341,954 |
Liabilities at fair value with changes in results [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 869,077 | |
Other financial liabilities [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 4,269,550 | 5,029,575 |
Other financial liabilities [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 3,943,918 | |
Other financial liabilities [member] | Euro [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 313,742 | |
Other financial liabilities [member] | Real | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 27 | |
Other financial liabilities [member] | Other Currency [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 11,863 | |
Financing received from the Argentine Central Bank and other financial entities [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,710,444 | 10,003,199 |
Financing received from the Argentine Central Bank and other financial entities [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,710,444 | |
Other non-financial liabilities [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 297,471 | 720,077 |
Other non-financial liabilities [member] | US Dollar [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 297,469 | |
Other non-financial liabilities [member] | Other Currency [member] | Liabilities [member] | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 2 | |
Cash and due from banks | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 38,704,310 | 41,833,675 |
Cash and due from banks | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 36,794,745 | |
Cash and due from banks | Euro [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,431,855 | |
Cash and due from banks | Real | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 18,686 | |
Cash and due from banks | Other Currency [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 459,024 | |
Government and corporate securities at fair value with changes in results [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,429,718 | 1,514,433 |
Government and corporate securities at fair value with changes in results [member] | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,429,718 | |
Derivatives | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 55,699 | 14,350 |
Derivatives | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 55,699 | |
Other Financial Assets [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,769,736 | 1,385,443 |
Other Financial Assets [member] | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,769,736 | |
Loans and other financing | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 18,198,894 | 30,054,095 |
Loans and other financing | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 18,197,280 | |
Loans and other financing | Euro [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 1,052 | |
Loans and other financing | Other Currency [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 562 | |
Other Debt Securities [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 9,724,230 | 7,270,268 |
Other Debt Securities [member] | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 9,724,230 | |
Financial assets in guarantee | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 969,770 | 2,117,659 |
Financial assets in guarantee | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 969,770 | |
Other Non Financial Assets [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | 133,368 | $ 236,308 |
Other Non Financial Assets [member] | US Dollar [member] | Assets | ||
Disclosure Of Effect Of Changes In Foreign Exchange Rates Explanatory [line items] | ||
Assets and (liabilities) in foreign currency | $ 133,368 |
CURRENT_NON-CURRENT DISTINCTI_3
CURRENT/NON-CURRENT DISTINCTION (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS | |||
Cash and due from banks | $ 48,399,468 | $ 63,452,161 | $ 107,832,923 |
Cash | 19,122,146 | 24,523,137 | |
Argentine Central Bank | 27,184,409 | 35,324,768 | |
Other local financial institutions | 2,064,305 | 2,353,797 | |
Others | 28,608 | 1,250,459 | |
Debt Securities at fair value through profit or loss | 22,384,677 | 38,486,623 | $ 29,025,766 |
Derivatives | 295,555 | 432,164 | |
Reverse Repo Transactions | 21,581,438 | 83,468,057 | |
Other financial assets | 8,107,119 | 27,120,979 | |
Loans and other financing | 235,591,198 | 302,853,393 | |
To the non-financial public sector | 277,702 | 44,292 | |
To the financial sector | 644,533 | 149,663 | |
To the Non-Financial Private Sector and Foreign residents | 234,668,963 | 302,659,438 | |
Other debt securities | 269,735,051 | 153,750,726 | |
Financial assets pledged as collateral | 14,468,665 | 16,635,209 | |
Current income tax assets | 976,073 | 1,714,745 | |
Inventories | 67,090 | 266,428 | |
Investments in equity instruments | 502,560 | 514,799 | |
Property, plant and equipment | 18,373,792 | 21,495,256 | |
Investment Property | 16,903,052 | 16,943,351 | |
Intangible assets | 22,275,852 | 22,249,482 | |
Deferred income tax assets | 12,196,868 | 6,301,474 | |
Other non-financial assets | 5,008,839 | 4,793,662 | |
Total Assets | 696,867,297 | 760,478,509 | |
LIABILITIES | |||
Deposits | 547,516,935 | 561,896,707 | |
Non-financial public sector | 27,843,116 | 22,352,551 | |
Financial sector | 101,430 | 76,162 | |
Non-financial private sector and foreign residents | 519,572,389 | 539,467,994 | |
Liabilities at fair value through profit or loss | 2,139,170 | 3,999,525 | |
Other financial liabilities | 18,105,482 | 46,322,290 | |
Financing received from the Argentine Central Bank and other financial institutions | 5,529,676 | 12,179,537 | |
Unsubordinated debt securities | 561,409 | 2,063,327 | |
Provisions | 1,691,656 | 1,779,769 | |
Deferred income tax liability | 181,543 | 120,258 | |
Other non-financial liabilities | 28,795,393 | 31,700,398 | |
TOTAL LIABILITIES | 604,521,264 | 660,061,811 | |
Up to 1 year [member] | |||
ASSETS | |||
Cash and due from banks | 48,399,468 | 63,452,161 | |
Cash | 19,122,146 | 24,523,137 | |
Argentine Central Bank | 27,184,409 | 35,324,768 | |
Other local financial institutions | 2,064,305 | 2,353,797 | |
Others | 28,608 | 1,250,459 | |
Debt Securities at fair value through profit or loss | 22,384,677 | 38,486,623 | |
Derivatives | 295,555 | 432,164 | |
Reverse Repo Transactions | 21,581,438 | 83,468,057 | |
Other financial assets | 8,107,119 | 27,120,979 | |
Loans and other financing | 188,125,734 | 225,329,776 | |
To the non-financial public sector | 41,241 | 44,292 | |
To the financial sector | 599,994 | 23,689 | |
To the Non-Financial Private Sector and Foreign residents | 187,484,499 | 225,261,795 | |
Other debt securities | 245,157,911 | 142,602,508 | |
Financial assets pledged as collateral | 14,468,665 | 16,635,209 | |
Current income tax assets | 976,073 | 1,714,745 | |
Inventories | 67,090 | 266,428 | |
Deferred income tax assets | 1,813,368 | 945,220 | |
Other non-financial assets | 2,388,102 | 2,212,722 | |
Total Assets | 553,765,200 | 602,666,592 | |
LIABILITIES | |||
Deposits | 547,516,823 | 561,891,112 | |
Non-financial public sector | 27,843,116 | 22,352,551 | |
Financial sector | 101,430 | 76,162 | |
Non-financial private sector and foreign residents | 519,572,277 | 539,462,399 | |
Liabilities at fair value through profit or loss | 2,139,170 | 3,999,525 | |
Other financial liabilities | 17,423,147 | 45,229,097 | |
Financing received from the Argentine Central Bank and other financial institutions | 4,000,796 | 11,401,927 | |
Unsubordinated debt securities | 561,409 | 665,458 | |
Provisions | 10,720 | 128,920 | |
Deferred income tax liability | 181,543 | 120,258 | |
Other non-financial liabilities | 28,795,393 | 31,700,398 | |
TOTAL LIABILITIES | 600,629,001 | 655,136,695 | |
Later than one year [member] | |||
ASSETS | |||
Loans and other financing | 47,465,464 | 77,523,617 | |
To the non-financial public sector | 236,461 | ||
To the financial sector | 44,539 | 125,974 | |
To the Non-Financial Private Sector and Foreign residents | 47,184,464 | 77,397,643 | |
Other debt securities | 24,577,140 | 11,148,218 | |
Investments in equity instruments | 502,560 | 514,799 | |
Property, plant and equipment | 18,373,792 | 21,495,256 | |
Investment Property | 16,903,052 | 16,943,351 | |
Intangible assets | 22,275,852 | 22,249,482 | |
Deferred income tax assets | 10,383,500 | 5,356,254 | |
Other non-financial assets | 2,620,737 | 2,580,940 | |
Total Assets | 143,102,097 | 157,811,917 | |
LIABILITIES | |||
Deposits | 112 | 5,595 | |
Non-financial private sector and foreign residents | 112 | 5,595 | |
Other financial liabilities | 682,335 | 1,093,193 | |
Financing received from the Argentine Central Bank and other financial institutions | 1,528,880 | 777,610 | |
Unsubordinated debt securities | 1,397,869 | ||
Provisions | 1,680,936 | 1,650,849 | |
TOTAL LIABILITIES | $ 3,892,263 | $ 4,925,116 |
OFFSETTING OF FINANCIAL ASSET_3
OFFSETTING OF FINANCIAL ASSET AND LIABILITIES (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Financial Assets And Liabilities [line items] | ||
Gross amount | $ 86,965 | $ 308,708 |
Amount offset | 116,784 | 109,106 |
Net in Financial Statements | 203,748 | 417,814 |
Amounts subject to a master netting arrangement not offset, Financial asset / (Financial liability) | (308,168) | (12,246,472) |
Collateral | 8,539,292 | 1,715,975 |
Net amount | (8,847,460) | (10,530,497) |
Debts with businesses for credit card customers | ||
Disclosure Of Financial Assets And Liabilities [line items] | ||
Amounts subject to a master netting arrangement not offset, Financial asset / (Financial liability) | (308,168) | |
Collateral | 8,539,292 | |
Net amount | (8,847,460) | |
Credit Card [member] | ||
Disclosure Of Financial Assets And Liabilities [line items] | ||
Amounts subject to a master netting arrangement not offset, Financial asset / (Financial liability) | (12,246,472) | |
Collateral | 1,715,975 | |
Net amount | (10,530,497) | |
Derivatives | ||
Disclosure Of Financial Assets And Liabilities [line items] | ||
Gross amount | 86,965 | 308,708 |
Amount offset | 116,784 | 109,106 |
Net in Financial Statements | $ 203,748 | $ 417,814 |
Purchase of loan portfolio (Det
Purchase of loan portfolio (Details) | 3 Months Ended |
Dec. 31, 2022 USD ($) | |
IUDU Compaa Financiera S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Purchase of loans receivable | $ 17,626,854 |
Payments to acquire loans receivable | 13,035,864 |
Tarjeta Automtica S.A. | |
Disclosure of detailed information about financial instruments [line items] | |
Purchase of loans receivable | 176,231 |
Payments to acquire loans receivable | $ 12,998 |
Repurchase of treasury shares (
Repurchase of treasury shares (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||||
Apr. 10, 2023 shares | Jan. 01, 2023 shares | Dec. 27, 2022 $ / shares | Dec. 27, 2022 $ / shares | Sep. 13, 2022 $ / shares | Sep. 13, 2022 $ / shares | Jul. 20, 2022 ARS ($) $ / shares | Jul. 20, 2022 ARS ($) $ / shares | Dec. 31, 2022 shares | |
Program for the acquisition of own shares | |||||||||
Amount of shares authorized to be repurchased | $ | $ 2,000,000 | $ 2,000,000 | |||||||
Shares authorized to be repurchased (as percent) | 10% | 10% | |||||||
Share repurchase term | 250 days | 250 days | |||||||
Shares repurchased (in shares) | 12,310,611 | ||||||||
Share repurchase execution (as percent) | 86.30% | ||||||||
Share repurchased (as percent) | 3.076% | ||||||||
American Depositary Shares | |||||||||
Program for the acquisition of own shares | |||||||||
Shares repurchased (in shares) | 591,384 | 591,384 | |||||||
American Depositary Shares | Maximum | |||||||||
Program for the acquisition of own shares | |||||||||
Share repurchase price per share (in per share) | $ / shares | $ 2.70 | $ 2.70 | $ 2.20 | ||||||
Class B Shares | |||||||||
Program for the acquisition of own shares | |||||||||
Shares repurchased (in shares) | 11,093,572 | 1,739,881 | 9,353,691 | ||||||
Shares repurchased in ADR equivalent (in shares) | 2,956,920 | ||||||||
Class B Shares | Maximum | |||||||||
Program for the acquisition of own shares | |||||||||
Share repurchase price per share (in per share) | $ / shares | $ 200 | $ 155 | $ 138 |
Prior commitment to merge IUD_2
Prior commitment to merge IUDU Compania Financiera S.A. and Automatic Card S.A with Banco Supervielle S.A (Details) | Dec. 14, 2022 company |
Prior commitment to merge IUDU Compania Financiera S.A. and Automatic Card S.A with Banco Supervielle S.A. | |
Number of companies to be merged | 2 |
MINIMUM CAPITAL REQUIREMENTS (D
MINIMUM CAPITAL REQUIREMENTS (Details) - ARS ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Calculation of excess capital: | |||
Allocated to assets at risk | $ 20,729,624 | $ 12,957,481 | $ 9,047,140 |
Allocated to Bank premises and equipment, intangible assets and equity investment assets | 3,747,910 | 2,035,689 | 1,350,035 |
Market risk | 1,693,962 | 965,159 | 551,765 |
Public sector and securities in investment account | 625,570 | 34,489 | 27,651 |
Operational risk | 8,188,453 | 4,805,957 | 3,233,793 |
Required minimum capital under Central Bank rules | 34,985,519 | 20,798,775 | 14,210,384 |
Basic net worth | 77,619,877 | 42,938,440 | 30,242,263 |
Complementary net worth | 2,600,170 | 1,564,272 | 1,090,865 |
Deductions | (25,063,540) | (11,770,286) | (7,028,227) |
Total capital under Central Bank rules | 55,156,507 | 32,732,426 | 24,304,901 |
Excess capital | 20,170,988 | 11,933,651 | 10,094,517 |
Risk Weighted Assets | $ 428,238,464 | $ 254,513,436 | $ 173,834,352 |
Selected capital and liquidity ratios: | |||
Regulatory capital/risk weighted assets | 12.90% | 12.90% | 14% |
Average shareholders' equity as a percentage of average total assets | 12.20% | 12.50% | 11.20% |
Total liabilities as a multiple of total shareholders' equity | 0.083 | 0.075 | 0.075 |
Cash as a percentage of total deposits. | 8.70% | 11.10% | 20.30% |
Liquid assets as a percentage of total deposits | 46% | 49.20% | 49.70% |
Tier 1 Capital / Risk weighted assets.. | 12.30% | 12.20% | 13.40% |
Multiple to calculate operational risk weighted assets and market risk weighted assets | 0.125 |
ECONOMIC CONTEXT ON GROUP'S O_3
ECONOMIC CONTEXT ON GROUP'S OPERATIONS - Paragraphs (Details) - USD ($) $ in Millions | 1 Months Ended | 4 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
ECONOMIC CONTEXT ON GROUPS OPERATIONS | |||||
Global economic recovery growth rate | 3.40% | 6.20% | |||
GDP growth rate in developed countries | 2.70% | ||||
GDP growth rate in emerging countries | 3.90% | ||||
Annual inflation rate | 50.90% | ||||
Annual monetary base increase rate | 40% | ||||
Global inflation accelerate rate | 6.40% | ||||
Depreciated official exchange rate | 20.70% | ||||
Exchange rate less than inflation rate | 30.20% | ||||
Accumulated depreciation percentage | 72.40% | ||||
Accumulated depreciation below the evolution of inflation percentage | 94.80% | ||||
Implied agricultural settlements | $ 11,826 | ||||
Debt term | 10 years | ||||
LELIQ interest rate | 75% | 38% | |||
Minimum interest rate on fixed terms for individuals | 75% | ||||
Minimum interest rate on fixed terms for other sectors | 66.50% | ||||
Net transfer | $ 620,000 |
ECONOMIC CONTEXT ON GROUP'S O_4
ECONOMIC CONTEXT ON GROUP'S OPERATIONS - Grupo exposure to public sector (Details) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 621,065,731 | $ 686,714,111 |
Loans to the Public Sector | 277,702 | $ 44,292 |
Public sector exposure | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Loans to the Public Sector | 277,702 | |
Total exposure to the public sector | $ 310,955,599 | |
Percentage of total assets (as percent) | 44.62% | |
Percentage of shareholders equity (as percent) | 336.73% | |
Public sector exposure | Debt instruments | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 310,677,897 | |
Public sector exposure | Repo transactions | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 248,636,378 | |
Public sector exposure | Treasury Bills | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | 28,559,125 | |
Public sector exposure | Other instruments issued by the provincial authorities | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Financial assets | $ 33,482,394 |