XML 29 R12.htm IDEA: XBRL DOCUMENT v3.23.1
Financial assets at fair value through profit or loss
 12 Months Ended
Dec. 31, 2022
Financial assets at fair value through profit or loss [abstract]  
Financial assets at fair value through profit or loss
5. Financial assets at fair value through profit or loss
5.1. Debt securities
 
    
December 31,
2022
     
December 31,
2021
  
               
BCRA Liquidity Bills
(1)
      14,615,430        —    
Government securities
      10,904,532        2,719,594  
Private securities - Corporate bonds
      —          1,519  
    
 
 
     
 
 
  
TOTAL
   
 
25,519,962
 
   
 
2,721,113
 
    
 
 
     
 
 
  
 
(1)
Due 01-12-2023
5.2. Derivatives
The Group uses derivatives, not designated in a qualifying hedge relationship, to manage its exposure to foreign currency and interest rate risks. The instruments used include interest rate swaps and forward contracts (net settled in pesos) and options.
 
    
December 31,
2022
     
December 31,
2021
  
               
Foreign Currency Forwards
      2,189,239        5,480,278  
Put Options
(2)
      49,182        —    
Interest Rate Swaps
      29,780        6,035  
    
 
 
     
 
 
  
TOTAL
   
 
2,268,201
 
   
 
5,486,313
 
    
 
 
     
 
 
  
 
(
2
)
The Entity subscribed options according to Communication “A” 7546 issued by the B.C.R.A. The notional amounts of put options are 4,685,000 as of December 31, 2022.
The notional amounts of foreign currency forward transactions, stated in U.S. Dollars (US$) and in Euros, as the case may be, as well as the notional amounts of interest rate swaps are reported below:
 
 
    
December 31,
2022
     
December 31,
2021
  
               
Foreign Currency Forwards
                  
Foreign currency forward purchases - US$
      1,165,119        1,189,085  
Foreign currency forward sales - US$
      1,217,856        1,129,832  
Foreign currency forward sales - Euros
      1,825        11,432  
Interest rate swaps
                  
Fixed rate for floating rate
(1)
      1,500,000        180,000  
 
(1)
De
fin
itions
:
Floating rate: BADLAR (Buenos Aires Deposits of Large Amount Rate), is the interest rate for time deposits over 1 (one) million pesos, for 30 to 35 days.
5.3. Equity instruments
 
    
December 31,
2022
     
December 31,
2021
  
               
Investment
Funds
      3,926,704        3,710,885  
BYMA - Bolsas y Mercados Argentinos S.A.
      559,360        506,462  
Banco de Valores de Buenos Aires S.A.
      318,519        242,151  
Prisma Medios de Pago S.A. (1)
      —          8,013,626  
    
 
 
     
 
 
  
TOTAL
   
 
4,804,583
 
   
 
12,473,124
 
    
 
 
     
 
 
  
 
(1)
On October 1, 2021, the Bank, toge
ther
with the other Class B Shareholders, gave notice of the exercise of the put option and therefore initiated the procedure to sell 49% of the capital stock in the company Prisma Medios de Pago S.A.
On March 18, 2022, the transfer of all the remaining shareholding of the Bank in Prisma Medios de Pago S.A. was consummated for a price of US$
40,038,121.84.
Such amount was paid as follows: (i) 30% in Pesos adjustable by CER (UVA) at an annual nominal rate of 15% and (ii) 70% in US Dollars at an annual nominal rate of 10%, both within a term of six years.