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Financial assets at amortized cost

12 Months Ended

Dec. 31, 2023

Financial Assets at Amortised Cost [Abstract]

6. Financial assets at amortized cost

6.1. Loans and advances to financial institutions


	December 31, 2023			December 31, 2022
Loans and advances to financial institutions		16,432,085			13,903,746
Allowances for ECL		(980,641	)		(725,747	)

TOTAL		15,451,444			13,177,999

6.2. Loans and advances to customers


	December 31, 2023			December 31, 2022
Credit Cards		702,657,639			854,924,949
Notes		318,069,103			181,250,348
Overdrafts		176,515,811			196,021,914
Loans for the prefinancing and financing of exports		153,200,806			78,079,366
Consumer loans		151,819,857			222,107,654
Commercial papers		145,212,037			182,199,444
Real estate mortgage		79,404,563			119,922,367
Pledge loans		44,335,196			76,942,252
Receivables from financial leases		12,719,733			19,892,649
Loans to employees		10,268,564			15,016,004
Other financing		210,138,365			337,838,753
Allowances for ECL		(44,440,936	)		(64,326,062	)

TOTAL		1,959,900,738			2,219,869,638

Loans by Economic Activity

The tables below analyze our loan portfolio (broken down by performing and

non-performing)

according to the borrowers’ main economic activity as of December 31, 2023 and 2022. Where appropriate, loans to individuals are allocated to the economic activity of the borrower. Loans are stated before deduction of the allowance for loan losses and include loans and advances to all clients.


	December 31, 2023
	Loan portfolio (1)
	Performing		%			Non-performing		%			Total
	(in thousands of pesos, except percentages)
Consumer		925,263,748		46.59	%		28,993,504		82.36	%		954,257,252
Other manufacturing		231,659,985		11.67	%		3,093,299		8.79	%		234,753,284
Wholesale and retail trade		164,990,452		8.31	%		263,069		0.75	%		165,253,521
Mining products		148,237,570		7.47	%		89,202		0.25	%		148,326,772
Agricultural and livestock		98,606,896		4.97	%		601,678		1.71	%		99,208,574
Services		37,210,971		1.87	%		129,876		0.37	%		37,340,847
Transport		33,317,055		1.68	%		193,015		0.55	%		33,510,070
Financial sector		16,432,085		0.83	%		—		—			16,432,085
Construction		12,735,536		0.64	%		269,843		0.77	%		13,005,379
Electricity, oil,water and sanitary services		10,863,098		0.55	%		2,707		0.01	%		10,865,805
Government services		145,208		0.01	%		—		—			145,208
Others		306,249,181		15.41	%		1,570,989		4.44	%		307,820,170

		1,985,711,785		100.00	%		35,207,182		100.00	%		2,020,918,967


	December 31, 2022
	Loan portfolio (1)
	Performing		%			Non-performing		%			Total
	(in thousands of pesos, except percentages)
Consumer		1,185,453,460		52.48	%		30,139,056		76.93	%		1,215,592,516
Other manufacturing		240,886,440		10.66	%		518,422		1.32	%		241,404,862
Wholesale and retail trade		159,930,827		7.08	%		243,174		0.62	%		160,174,001
Agricultural and livestock		104,841,665		4.64	%		612,996		1.56	%		105,454,661
Mining products		77,640,679		3.44	%		3,149,898		8.04	%		80,790,577
Transport		36,846,913		1.63	%		157,381		0.40	%		37,004,294
Services		23,685,189		1.05	%		90,585		0.23	%		23,775,774
Construction		15,660,271		0.69	%		611,243		1.56	%		16,271,514
Financial sector		13,903,746		0.62	%		—		0.00	%		13,903,746
Electricity, oil, water and sanitary services		3,314,762		0.15	%		3,095		0.01	%		3,317,857
Central Bank		28,132		0.00	%		—		0.00	%		28,132
Government services		4,356		0.00	%		—		0.00	%		4,356
Others		396,758,173		17.56	%		3,651,471		9.33	%		400,409,644

		2,258,954,613		100.00	%		39,177,321		100.00	%		2,298,131,934

(1)	Performing: Stage 1 y Stage 2; Non Performing: Stage 3

The Group holds loans and other financing within a business model whose objective is collecting contractual cash flows.

Receivables from financial leases

The Group as lessor entered into finance lease agreements related to vehicles and machinery and equipment.

The following table shows the total gross investment of the finance leases (leasing) and the present value of the minimum collections to be received thereunder:


	December 31, 2023				December 31, 2022
	Total investment		Present value of minimum lease collections		Total investment		Present value of minimum lease collections
Term
Up to 1 year		8,990,725		2,599,587		10,222,440		4,322,410
From 1 to 2 years		9,274,940		3,653,345		10,002,205		5,118,434
From 2 to 3 years		6,786,874		3,081,354		7,917,097		4,797,536
From 3 to 4 years		3,661,321		2,194,714		4,666,061		3,306,834
From 4 to 5 years		1,307,994		1,190,733		2,433,073		2,347,435

TOTAL		30,021,854		12,719,733		35,240,876		19,892,649

Principal				12,073,883				19,343,628
Interest accrued				645,850				549,021

TOTAL				12,719,733				19,892,649

6.3. Reverse repurchase agreements


	December 31, 2023			December 31, 2022
BCRA repos		1,202,421,795			163,689,844
Allowances for ECL		(1,272,651	)		(285,229	)

TOTAL		1,201,149,144			163,404,615

The fair value of financial assets accepted as collateral that the Group was permitted to sell or repledge in the absence of default was 1,325,617,978 as of December 31, 2023 and 182,461,131 as of December 31, 2022. As of December 31, 2023 and 2022, BCRA repos ha

an expiration date of January 2, 2024 and January 2, 2023, respectively.

6.4. Debt securities


	December 31, 2023			December 31, 2022
Argentine Treasury Bond in pesos. Maturity 08-23-2025		49,502,692			—
Argentine Treasury Bond in pesos. Maturity 05-23-2027		32,406,871			100,997,240
Argentine Treasury Bond in pesos at 0.7% Badlar Private Rate. Maturity 11-23-2027		14,771,877			37,662,724
Allowances for ECL		(12,858,226	)		(20,893,248	)

TOTAL		83,823,214			117,766,716

6.5. Other financial assets


	December 31, 2023			December 31, 2022
Financial assets pledged as collateral (1)		80,840,899			91,851,261
Sundry debtors		49,392,813			42,857,988
Receivables from sale of ownership interest in Prisma Medios de Pago S.A. (2)		40,474,563			33,628,764
Receivable from financial institution for spot transactions pending settlement		921,900			14,228,177
Receivable from non-financial institution for spot transactions pending settlement		874,585			273,352
Others		127,093			186,183
Allowances for ECL		(1,418,944	)		(1,438,804	)

TOTAL		171,212,909			181,586,921

(1)

Special guarantee current accounts opened at the BCRA for transactions related to the automated clearing houses and other similar entities; deposits pledged as collateral for activities related to credit card transactions in the country and abroad and; leases and trust is composed of dollars in cash as collateral for activities related to the transactions on Mercados Argentinos SA (BYMA) and Mercado Abierto Electrónico S.A (MAE).

(2)

On October 1, 2021, the Bank, together 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$ 40,038,122. Such amount will be 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% within a term of six years.