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COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND CONSOLIDATED INCOME STATEMENT (Tables)

12 Months Ended

Dec. 31, 2019

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


		12/31/2019		12/31/2018
Government securities		564,833		5,741,430
Corporate securities		3,668		114,648
Securities issued by the BCRA		—		17,391,251
		568,501		23,247,329

Summary of other financial assets


		12/31/2019		12/31/2018
Participation Certificates in Financial Trusts		30,592		16,840
Investments in Mutual Funds		865,872		1,008,467
Other investments		59,608		12,211
Receivable from spot sales pending settlement		138,591		6,341
Several debtors		623,070		994,919
Miscellaneous debtors for credit card operations		379,133		573,379
		2,096,866		2,612,157

Summary of other debt securities


		12/31/2019		12/31/2018
Negotiable obligations		—		3,938
Debt securities from Financial trusts		—		1,863
Government securities		10,449,499		6,626,011
Others		9,057		49
		10,458,556		6,631,861

Summary of financial assets in guarantee


		12/31/2019		12/31/2018
Special guarantees accounts in the Argentine Central Bank		2,120,732		2,088,896
Deposits in guarantee		3,212,972		998,854
		5,333,704		3,087,750

Summary of inventories


		12/31/2019		12/31/2018
Electronics		21,752		92,429
Home and Health care		7,734		16,574
Tools and Workshop Equipment		16,249		365
Obsolescence Reserve		(1,280)		(1,811)
		44,455		107,557

Summary of non-financial assets


		12/31/2019		12/31/2018
Other Miscellaneous assets		831,142		912,352
Loans to employees		263,922		202,414
Payments in advance		13,570		48,568
Retirement Plan		151,171		196,799
Works of art and collector's pieces		34,546		6,896
		1,294,351		1,367,029

Summary of deposits


		12/31/2019		12/31/2018
Non-financial sector		5,470,177		17,083,822
Financial sector		28,098		38,821
Current accounts		10,885,298		10,287,013
Savings accounts		39,992,352		72,085,308
Time deposits and investments accounts		29,717,376		41,818,262
Others		2,914,876		4,682,975
		89,008,177		145,996,201

Summary of liabilities at fair value through profit or loss


		12/31/2019		12/31/2018
Liabilities for transactions in local currency		189,554		177,215
Liabilities for transactions in foreign currency		—		235,188
		189,554		412,403

Summary of other financial liabilities


		12/31/2019		12/31/2018
Amounts payable for spot transactions pending settlement		2,193,818		850,096
Collections and other operations on behalf of third parties		5,224,611		4,948,447
Fees accrued to pay		269		56,087
Financial guarantee contracts		15,268		56,260
Liabilities associated with the transfer of financial assets not derecognized		713,177		593,093
Lease liability		946,390		—
Others		22,032		60,413
		9,115,565		6,564,396

Summary of financing received from the Argentine Central Bank and other financial institutions


		12/31/2019		12/31/2018
Financing received from local financial institutions		939,136		1,918,696
Financing received from international institutions		8,078,461		10,438,410
		9,017,597		12,357,106

Summary of provisions


		12/31/2019		12/31/2018
Legal issues		33,049		47,176
Labor lawsuits		28,023		26,391
Tax		77,882		20,390
Restructuring Provision		500,000		—
Others		21,930		22,809
Judicial Deposits		15,767		15,097
Eventual commitments		367		1,840
		677,018		133,703

Summary of other non-financial liabilities


		12/31/2019		12/31/2018
Payroll and social securities		3,967,872		3,499,379
Sundry creditors		2,357,646		2,302,636
Revenue from contracts with customers (1)		192,499		191,378
Tax payable		1,396,223		1,751,473
Social security payment orders pending settlement		218,486		341,196
Other		76,188		228,577
		8,208,914		8,314,639

Schedule of estimated use of liability


		Maturity
		Up to 12		Up to 24		More than
Item		months		months		24 months		Total
Revenue from contracts with customers		93,466		47,952		51,081		192,499

Summary of interest income


		12/31/2019		12/31/2018		12/31/2017
Interest on overdrafts		4,566,729		5,000,550		2,901,607
Interest on promissory notes		5,878,441		6,272,282		3,767,219
Interest on personal loans		12,916,398		16,811,397		16,547,779
Interest on corporate unsecured loans		6,141,212		4,643,906		3,060,511
Interest on credit card loans		4,815,023		5,249,821		5,053,721
Interest on mortgage loans		3,781,641		3,028,718		263,172
Interest on automobile and other secured loan		693,000		757,191		75,662
Interest on foreign trade loans		1,730,633		1,798,461		899,192
Interest on financial leases		1,129,605		1,417,026		1,141,613
Others		3,141,913		1,810,684		540,048
Total		44,794,595		46,790,036		34,250,524

Summary of interests expenses


		12/31/2019		12/31/2018		12/31/2017
Interest on current accounts deposits		6,010,413		7,890,452		1,564,612
Interest on time deposits		19,855,152		9,991,638		5,786,089
Interest on other financial liabilities		7,692,607		7,296,529		4,460,915
Interest from financing from financial sector		274,101		1,137,554		382,729
Others		1,081,178		471,217		588,612
Total		34,913,451		26,787,390		12,782,957

Summary of net income from financial instruments at fair value through profit or loss


		12/31/2019		12/31/2018		12/31/2017
Income from corporate and government securities		1,532,374		2,812,312		1,253,840
Income from securities issued by the Argentine Central Bank		18,714,976		9,500,772		4,366,999
Derivatives		713,616		(2,605,689)		(166,485)
Total		20,960,966		9,707,395		5,454,354

Summary of service fee income


		12/31/2019		12/31/2018		12/31/2017
Commissions from deposits accounts		3,509,557		3,398,652		3,591,081
Commissions from credit and debit cards		2,897,583		3,361,286		3,598,831
Commissions from loans operations		294,820		601,763		543,388
Others		1,897,647		1,757,005		1,594,665
Total		8,599,607		9,118,706		9,327,965

Summary of service fee expenses


		12/31/2019		12/31/2018		12/31/2017
Commissions paid		2,171,167		2,099,326		1,813,673
Export and foreign currency operations		72,803		82,294		63,739
Total		2,243,970		2,181,620		1,877,412

Summary of income from insurance activities


		12/31/2019		12/31/2018		12/31/2017
Accrued premiums		2,188,006		2,263,710		2,438,417
Accrued losses		(346,018)		(510,785)		(623,792)
Production expenses		(448,632)		(447,403)		(430,916)
Total		1,393,356		1,305,522		1,383,709

Summary of other operating incomes


		12/31/2019		12/31/2018		12/31/2017
Loans recovered and allowances reversed		498,599		488,878		466,741
Insurance commissions		68,287		610,942		544,225
Rental from safety boxes		286,881		368,093		358,390
Commissions from trust services		26,280		11,722		244,890
Returns of risk funds		172,684		431,480		164,515
Commissions from financial guarantees		627,845		723,954		45,557
Default interests		420,933		371,439		232,584
Others		653,758		798,626		770,574
Total		2,755,267		3,805,134		2,827,476

Summary of personnel expenses


		12/31/2019		12/31/2018		12/31/2017
Payroll and social securities		12,415,668		10,009,697		10,258,005
Others expenses		1,748,621		3,494,603		3,181,160
Total		14,164,289		13,504,300		13,439,165

Summary of administration expenses


		12/31/2019		12/31/2018		12/31/2017
Directors´ and statutory auditors’fees		280,833		251,527		199,248
Professional fees		1,017,618		2,541,276		1,690,134
Advertising and publicity		542,054		633,316		673,128
Taxes		1,469,457		1,648,448		1,672,778
Maintenance, security and services		1,727,446		846,858		804,156
Rent		51,745		715,107		621,264
Others		2,484,390		1,978,864		1,905,586
Total		7,573,543		8,615,396		7,566,294

Summary of depreciation and impairment of non-financial assets


		12/31/2019		12/31/2018		12/31/2017
Depreciation of property, plant and equipment		682,136		322,530		549,762
Depreciation of other non-financial assets		106,936		113,747		27,405
Depreciation of intangible assets		458,407		228,450		379,652
Depreciation of right-of-use assets		567,192		—		—
Impairment of other-non financial assets		—		427		—
Total		1,814,671		665,154		956,819

Summary of other operating expenses


		12/31/2019		12/31/2018		12/31/2017
Promotions related with credit cards		510,582		651,017		651,859
Turnover tax		3,749,503		4,311,436		3,459,409
Fair value on initial recognition of loans		200,899		594,275		656,807
Contributions made to deposit insurance system		243,959		237,870		207,594
Others		1,653,348		838,563		1,418,873
Total		6,358,291		6,633,161		6,394,542