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ACCOUNTING STANDARDS AND BASIS OF PREPARATION (Tables)

12 Months Ended

Dec. 31, 2020

ACCOUNTING STANDARDS AND BASIS OF PREPARATION

Summary of Effects of Variation in Prices of Price Index

The tables below show the evolution of these indexes in the last three years and as of December 31, 2020 according to official statistics (INDEC):

		As of December 31,
		2018		2019		2020
Variation in Prices
Annual		47.6	%	53.8	%	36.1	%
Accumulated 3 years		148.0	%	183.4	%	209.2	%

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		12/31/2020		12/31/2019		12/31/2018
Banco Supervielle S.A.		Commercial Bank		99.90	% (1)	99.90	% (1)	99.89	% (1)
Cordial Compañía Financiera S.A.		Financial Company		99.90	%	99.90	%	99.90	%
Tarjeta Automática  S.A.		Credit Card		99.99	%	99.99	%	99.99	%
Supervielle Asset Management S.A.		Asset Management and Other Services		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	%
InvertirOnline.Com Argentina S.A.U.		Representations		100.00	%	100.00	%	100.00	%
Supervielle Productores Asesores de Seguros S.A.		Insurance Broker		100.00	%	100.00	%	—
Bolsillo Digital S.A.U.		Fintech		100.00	%	100.00	%	—
Futuros del Sur S.A.		Financial Broker		100.00	%	100.00	%	—
Easy Cambio S.A.		Financial Company		100.00	%	—		—

(1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.87%, as of 12/31/2020, 12/31/2019 and 12/31/2018 respectively.

Summary of Assets and Liabilities of Structured Entities

The following chart details the assets and liabilities of Structured Entities that have been consolidated by the Group as of December 31, 2020 and 2019:

		12/31/2020(i)		12/31/2019
Assets
Loans		—		2,170,985
Financial assets		—		148,174
Other assets		—		397,110
Total Assets		—		2,716,269
Liabilities
Financial liabilities		—		1,939,295
Other liabilities		—		56,675
Total Liabilities		—		1,995,970

(i) Structured entities outstanding as of December 31, 2020 are in the process of being liquidated so they were not consolidated.

Summary of Cash and Cash Equivalents Include Cash and Highly Liquid Short-term Securities Maturities

Item		12/31/2020		12/31/2019		12/31/2018
Cash and due from banks		36,674,869		35,945,335		70,551,283
Debt securities at fair value through profit or loss		1,868,604		773,961		26,458,009
Money Market Funds(*)		923,053		1,313,597		1,372,931
Cash and cash equivalents		39,466,526		38,032,893		98,382,223

(*) Included within the "other financial assets" line in the statement of financial position

Summary of Reconciliation Between Balances on Statement of Financial Position and Statement of Cash Flow

Items		12/31/2020		12/31/2019		12/31/2018
Cash and due from Banks
As per Statement of Financial Position		36,674,869		35,945,335		70,551,283
As per the Statement of Cash Flows		36,674,869		35,945,335		70,551,283
Debt securities at fair value through profit or loss
As per Statement of Financial Position		9,871,903		773,961		31,649,050
Securities not considered as cash equivalents		(8,003,299)		—		(5,191,041)
As per the Statement of Cash Flows		1,868,604		773,961		26,458,009
Money Market Funds
As per Statement of Financial Position – Other financial assets		4,285,221		2,854,686		3,556,206
Other financial assets not considered as cash equivalents		(3,362,168)		(1,541,089)		(2,183,275)
As per the Statement of Cash Flow		923,053		1,313,597		1,372,931

Summary of reconciliation of financing activities

Reconciliation of liabilities from financing activities at December 31, 2020, 2019 and 2018 is as follows:

				Cash Flows				Other non-cash
Items		12/31/2019		Inflows		Outflows		movements		12/31/2020
Unsubordinated debt securities		8,286,163		2,653,805		(6,785,701)		72,481		4,226,748
Subordinated debt securities		2,886,028		—		(1,774,264)		28,705		1,140,469
Financing received from the Argentine Central Bank and other financial institutions		12,276,610		14,873,400		(21,297,718)		—		5,852,292
Lease Liabilities		1,288,420		—		(1,366,164)		1,259,442		1,181,698
Total		24,737,221		17,527,205		(31,223,847)		1,360,628		12,401,207

				Cash Flows				Other non-cash
Items		12/31/2018		Inflows		Outflows		movements		12/31/2019
Unsubordinated debt securities		19,491,854		11,452,532		(23,641,629)		983,406		8,286,163
Subordinated debt securities		2,898,105		—		(1,147,619)		1,135,542		2,886,028
Financing received from the Argentine Central Bank and other financial institutions		16,823,037		150,529,472		(155,072,118)		(3,781)		12,276,610
Lease Liabilities		—		—		(1,703,937)		2,992,357		1,288,420
Total		39,212,996		161,982,004		(181,565,303)		5,107,524		24,737,221

				Cash Flows				Other non-cash
Items		12/31/2017		Inflows		Outflows		movements		12/31/2018
Unsubordinated debt securities		26,558,104		6,429,136		(11,619,542)		(1,875,844)		19,491,854
Subordinated debt securities		2,120,799		—		(19,976)		797,282		2,898,105
Financing received from the Argentine Central Bank and other financial institutions		10,902,349		109,529,169		(105,180,217)		1,571,736		16,823,037
Total		39,581,252		115,958,305		(116,819,735)		493,174		39,212,996

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
		Financial Area
		Secured loans
		Unsecured loans
Consumer Finance	Probability of Default	Credit cards loans
		Refinancing
		Cash loans
		Cash consumptions and directed loans
		CCF Automobile Loans
		Tarjeta Automatica Personal loans
	Loss Given Default	Credit cards
		Personal loans
		Refinancing
		CCF Automobile Loans

⁽¹⁾ For credit cards and personal loans, the Group 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 cityzens 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		Inflation Rate		46.8	%	41.3	%	52.4	%
						Private Sector Wage		50.7	%	55.7	%	45.6	%
		Personal and Business Banking		Income Payroll		Quantity of Private Sector Employment		5,924		5,928		5,921
						Private Sector Real Wage		2.7	%	10.2	%	(4.5)	%
				Senior Citizens		Inflation Rate		46.8	%	41.3	%	52.4	%
Probability of Default						Monthly Economic Activity Estimator		138		140		136
		Corporate Banking		All		Interest Rate		(4.6)	%	(3.8)	%	(5.5)	%
						Monthly Economic Activity Estimator		138		140		136
				CCF		Private Sector Wage		50.7	%	55.7	%	45.6	%
		Consumer Finance				Monthly Economic Activity Estimator		138		140		136
				CCF  Automobile secured		Private Sector Wage		50.7	%	55.7	%	45.6	%
						Inflation Rate		46.8	%	41.3	%	52.4	%
		Supervielle Bank		All		Private Sector Wage		50.7	%	55.7	%	45.6	%
Loss Given Default				CCF		Private Sector Wage		50.7	%	55.7	%	45.6	%
		Consumer Finance		CCF  Automobile secured		Private Sector Loans		64.1	%	70.5	%	57.7	%
						Private Sector Wage		50.7	%	55.7	%	45.6	%

Summary of Scenario Probabilities

Scenario 1		80	%
Scenario 2		10	%
Scenario 3		10	%

Summary of ECL Allowance Sensitivity to Future Macro economic Conditions

December 31, 2020
Reported ECL Allowance		8,424,714
Gross carrying amount		113,819,900
Reported Loss rate		7.40	%
ECL amount by scenarios
Favorable scenario		6,927,295
Unfavorable scenario		8,142,498
Loss Rate by scenarios
Favorable scenario		6.09	%
Unfavorable scenario		7.15	%

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
Others		5 Years

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

Summary of Financial Trust

The structured entity in which the Group was the trustor as of December 31, 2020 are set out below:

Due of

Financial

principal

Securitized

Issued Securities

Issuers

Trust

Set-up on

obligation

Amount

Type

Amount

Type

Amount

Micro Lending S.A.U.

III

06/08/2011

10/12/2016

$

39,779

VDF TV A VDF B

VN$31,823

CP

VN$1,592

Micro Lending S.A.U.

IV

09/01/2011

06/29/2017

$

40,652

VDF TV A VDF B

VN$32,522

CP

VN$1,626

The structured entity in which the Group was the trustor as of December 31, 2019 are set out below:

Due of

Financial

principal

Securitized

Issued Securities

Issuers

Trust

Set-up on

obligation

Amount

Type

Cantidad

Tipo

Cantidad

Banco Supervielle S.A.

Serie 97

27/03/2018

20/03/2020

$

750,000

VDF TV A

VN$712,500

CP

VN$37,500

Cordial Compañía Financiera S.A.

20

08/04/2019

15/01/2022

$

600,000

VDF

VN$480,000

CP

VN$120,000

Cordial Compañía Financiera S.A.

21

24/06/2019

15/06/2022

$

1,000,000

VDF

VN$780,000

CP

VN$220,000

Cordial Compañía Financiera S.A.

22

13/11/2019

15/01/2021

$

571,560

VDF

VN$469,260

CP

VN$102,300

Micro Lending S.A.U.

III

08/06/2011

12/10/2016

$

39,779

VDF TV A VDF B

VN$31,823

CP

VN$1,592

Micro Lending S.A.U.

IV

01/09/2011

29/06/2017

$

40,652

VDF TV A VDF B

VN$32,522

CP

VN$1,626

Micro Lending S.A.U.

XVIII

01/12/2017

15/10/2022

$

119,335

VDF TV A VDF TV B

VN $89,501

CP

VN$22,543

Summary of significant increase in risk

This additional definition of a significant increase in credit risk has been applied for the SME and E&P segments, for the very high and high risk activities (only for the Single Firm portfolio):

Very high risk		High risk
Construction		Machinery & equipment
Tourism & Gastronomy		Iron and steel industry
Real estate		Home appliances
Entertainmet		Sports
Passenger transport		Textile
Professional services

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)		(Impaired credit)
12 months ECL		Lifetime ECL

Summary of movement in investment properties

		12/31/2020		13/31/2019
Income derived from rents (rents charged)		9,719		14,998
Direct operating expenses of properties that generated income derived from rents		(6,637)		(13,168)
Fair value remeasurement		(92,457)		(173,076)

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