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Fair Value Quantitative And Qualitative Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Statement [LineItems]

Summary of Fair Value Measurement of Asset and Liability

The following tables show the hierarchy in the Bank’s financial asset and liability fair value measurement, as of December 31, 2020 and 2019:

CATEGORIES OF FINANCIAL ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2020

Item		Amortized cost				Fair value with changes in other comprehensive income				Fair value with changes in P/L				Fair value hierarchy
														Level 1				Level 2				Level 3
FINANCIAL ASSETS
Cash and deposits in banks
Cash			25,422,664
Financial institutions and Correspondents			104,539,560
Other			5,262
Debt securities at fair value through profit or loss											54,982,465				54,604,015				6				378,444
Derivative instruments											989,478								7,232				982,246
Repo transactions
Central Bank of the Argentine Republic			39,421,705
Other financial assets			18,280,848								605,442				579,263								26,179
Loans and other financing
To the non-financial government Sector			3,614,614
Other financial institutions			1,824,600
To the non-financial private sector and foreign residents
Overdrafts			17,611,869
Documents			27,339,195
Mortgage loans			25,410,608
Pledge loans			3,325,554
Personal loans			70,258,760
Credit cards			64,266,490
Financial leases			118,562
Other (1)			43,650,943
Other debt securities			31,113,789				178,005,144								115,417,483				62,587,661
Financial assets delivered as guarantee			13,596,610				695,748								695,748
Equity Instruments at fair value through profit or loss											5,218,299				9,855								5,208,444
TOTAL FINANCIAL ASSETS			489,801,633				178,700,892				61,795,684				171,306,364				62,594,899				6,595,313
FINANCIAL LIABILITIES
Deposits
From the non-financial government sector			73,565,424
From the financial sector			696,415
From the non-financial private sector and foreign residents
Checking accounts			65,401,102
Savings accounts			138,844,482
Time deposits and Investment accounts			181,767,558
Other			28,466,382
Derivative instruments											230				230
Repo transactions
Other financial institutions			618,572
Other financial liabilities			49,215,887
Financing received from Central Bank and other financial entities			919,103
Issued corporate bonds			4,926,901
Subordinated corporate bonds			34,300,292
TOTAL FINANCIAL LIABILITIES			578,722,118								230				230

(1) Includes the total allowances to the non-financial private sector and foreign residents.

CATEGORIES OF FINANCIAL ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2019

Item		Amortized cost				Fair value with changes in other comprehensive income				Fair value with changes in P/L				Fair value hierarchy
														Level 1				Level 2				Level 3
FINANCIAL ASSETS
Cash and deposits in banks
Cash			26,563,255
Financial institutions and Correspondents			110,498,075
Other			5,100
Debt securities at fair value through profit or loss											7,725,991				6,543,684				72,681				1,109,626
Derivative instruments											838,493				43,012				25,991				769,490
Repo transactions
Other financial entities			1,481,096
Other financial assets			7,889,031								502,535				471,221								31,314
Loans and other financing
To the non-financial government Sector			8,781,948
Other financial institutions			5,380,555
To the non-financial private sector and foreign residents
Overdrafts			56,276,823
Documents			28,085,343
Mortgage loans			28,053,169
Pledge loans			5,536,821
Personal loans			77,326,738
Credit cards			57,392,877
Financial leases			312,495
Other (1)			33,584,820
Other debt securities			24,004,210				63,824,735								50,355,730				13,469,005
Financial assets delivered as guarantee			14,530,739
Equity Instruments at fair value through profit or loss											3,562,427				12,842								3,549,585
TOTAL FINANCIAL ASSETS			485,703,095				63,824,735				12,629,446				57,426,489				13,567,677				5,460,015
FINANCIAL LIABILITIES
Deposits
From the non-financial government sector			23,906,675
From the financial sector			427,702
From the non-financial private sector and foreign residents
Checking accounts			54,625,032
Savings accounts			123,517,591
Time deposits and Investment accounts			144,401,841
Other			10,987,601
Derivative instruments											1,046,556								1,046,556
Repo transactions
Other financial institutions			1,364,825
Other financial liabilities			30,181,836
Financing received from Central Bank and other financial entities			3,057,451
Issued corporate bonds			7,521,820
Subordinated corporate bonds			33,098,040
TOTAL FINANCIAL LIABILITIES			433,090,414								1,046,556								1,046,556

(1) Includes the total allowances to the non-financial private sector and foreign residents.

Summary of Financial Assets and Liabilities Recognized at Fair Value using the Valuation Technique

Below is the reconciliation between the amounts at the beginning and at the end of the fiscal year of the financial assets and liabilities recognized at fair value categorized as level 3:

		As of December 31, 2020
Description		Debt securities				Other financial assets				Equity instruments at fair value through profit or loss				Derivative financial instruments
Amount at the beginning			1,109,626				31,314				3,549,583				769,490
Transfers to Level 3
Transfers from Level 3
Profit and loss (1)			207,791				9,472				2,609,737				417,029
Recognition and derecognition			(791,555	)			(6,506	)			17,111
Monetary effects			(147,418	)			(8,101	)			(967,987	)			(204,273	)
Amount at end of the fiscal year			378,444				26,179				5,208,444				982,246

		As of December 31, 2019
Description		Debt securities				Other financial assets				Equity instruments at fair value through profit or loss				Derivative financial instruments
Amount at the beginning			2,703,786				190,929				95,095
Transfers to Level 3
Transfers from Level 3
Profit and loss (1)			885,411				18,737				328,662
Recognition and derecognition			(1,706,169	)			(143,266	)			4,372,702				769,490
Monetary effects			(773,402	)			(35,086	)			(1,246,876	)
Amount at end of the fiscal year			1,109,626				31,314				3,549,583				769,490

(1) Profit and loss are recorded in “Net gain from measurement of financial instruments at fair value”.

Summary of Sensitivity Analysis Related to WACC

Prisma Medios de Pago SA equity (49%) + minority discount

(9.09%) – US$ millions

g (terminal value growth – annual)

						2.00%				3.00%				4.00%
			97.5	%			370.9				391.8				416.5
WACC			100	%			366.2				386.8				411.1
			102.5	%			361.7				381.9				405.9

Summary of Sensitivity Analysis Related to Put Option Per Share

Below is disclosed the sensitivity for the valuation of the put option per share, based on the level of implied volatility and the theoretical exercise price of the share price:

Sensibility - US$

Volatility

						10.0%				12.0%				15.0%
			95	%			1.08				1.16				1.26
EBITDA			100	%			1.26				1.31				1.42
			105	%			1.43				1.48				1.58

Summary of Valuation Techniques and Significant Unobservable Inputs Used in the Valuation

The following table provides quantitative information about the valuation techniques and significant unobservable inputs used in the valuation of the main of debt securities of financial trusts for which the Bank uses an internal model.

Fair value of

Range of inputs

Level 3 Assets

Valuation

Significant unobservable

12/31/2020

12/31/2020

Technique

inputs

Range of inputs

Low

High

Unit

Debt Securities of Financial Trusts Provisional

376,090

Income approach (discounted cash flow)

Discount rate in pesos

43.84

47.60

%

Fair value of

Range of inputs

Level 3 Assets

Valuation

Significant unobservable

12/31/2019

12/31/2019

Technique

inputs

Range of inputs

Debt Securities of Financial Trusts

259,482

Income approach (discounted cash flow)

Discount rate in pesos

48.50

74.06

%

Debt Securities of Financial Trusts Provisional

847,773

Income approach (discounted cash flow)

Discount rate in pesos

39.27

44.97

%

Summary of Effect of Changing the Significant Unobservable Inputs

The table below describes the effect of changing the significant unobservable inputs to reasonable possible alternatives. Sensitivity data were calculated using a number of techniques including analyzing price dispersion of different price sources, adjusting model inputs to analyze changes within the fair value methodology.

		12/31/2020								12/31/2019
		Favorable changes				Unfavorable changes				Favorable changes				Unfavorable changes
Debt Securities of Financial Trusts											5,654				(5,000	)
Debt Securities of Financial Trusts Provisional			450				(439	)			1,083				(1,057	)

Summary of Comparison between Fair Value and the Carrying Amount of Financial Instruments

The following table shows a comparison between the fair value and the carrying amount of financial instruments not measured at fair value as of December 31, 2020 and 2019:

		12/31/2020
		Carrying amount				Level 1				Level 2				Level 3				Fair Value
Financial assets
Cash and deposits in banks			129,967,486				129,967,486												129,967,486
Repo transactions			39,421,705				39,421,705												39,421,705
Other financial assets			18,280,848				18,280,848												18,280,848
Loans and other financing			257,421,195												239,959,333				239,959,333
Other debt securities			31,113,789				10,559,766				22,210,308				148,327				32,918,401
Financial assets delivered as guarantee			13,596,610				13,596,610												13,596,610
			489,801,633				211,826,415				22,210,308				240,107,660				474,144,383
Financial liabilities
Deposits			488,741,363				243,062,751								245,400,493				488,463,244
Repo transactions			618,572				618,572												618,572
Other financial liabilities			49,215,887				47,879,138				1,331,299								49,210,437
Financing received from the BCRA and other financial entities			919,103				323,872				585,643								909,515
Issued corporate bonds			4,926,901								4,120,798								4,120,798
Subordinated corporate bonds			34,300,292								29,103,736								29,103,736
			578,722,118				291,884,333				35,141,476				245,400,493				572,426,302

		12/31/2019
		Carrying amount				Level 1				Level 2				Level 3				Fair Value
Financial assets
Cash and deposits in banks			137,066,430				137,066,430												137,066,430
Repo transactions			1,481,096				1,481,096												1,481,096
Other financial assets			7,889,031				7,889,031												7,889,031
Loans and other financing			300,731,589				424,388								264,176,063				264,600,451
Other debt securities			24,004,210				2,127,361				22,652,005				1,660,974				26,440,340
Financial assets delivered as guarantee			14,530,739				13,064,394												13,064,394
			485,703,095				162,052,700				22,652,005				265,837,037				450,541,742

		12/31/2019
		Carrying amount				Level 1				Level 2				Level 3				Fair Value
Financial liabilities
Deposits			357,866,442				200,293,229								157,881,650				358,174,879
Repo transactions			1,364,825				1,364,825												1,364,825
Other financial liabilities			30,181,836				28,680,171				1,489,374								30,169,545
Financing received from the BCRA and other financial entities			3,057,451				2,501,414				481,284								2,982,698
Issued corporate bonds			7,521,820								1,878,785				3,619,745				5,498,530
Subordinated corporate bonds			33,098,040								24,967,325								24,967,325
			433,090,414				232,839,639				28,816,768				161,501,395				423,157,802

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