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ACCOUNTING STANDARDS AND BASIS OF PREPARATION (Tables)

12 Months Ended

Dec. 31, 2021

ACCOUNTING STANDARDS AND BASIS OF PREPARATION

Summary of Effects of Variation in Prices of Price Index

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​	​	​	​	​	​	​	​
​	​	As of December 31,					​
​		2019		2020		2021
Variation in Prices
Annual		53.8	%	36.1	%	50.9	%
Accumulated 3 years		183.4	%	209.2	%	216.1	%

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		12/31/2021		12/31/2020		12/31/2019
Banco Supervielle S.A.		Commercial Bank		99.90	% (1)	99.90	% (1)	99.90	% (1)
IUDÚ Compañia 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. (renamed as “Portal Integral de Inversiones S.A.U.” with registration pending)		Representations		100.00	%	100.00	%	100.00	%
IOL Holding S.A.	​	Financial Company	​	100.00	%	—	%	—	%
Supervielle Productores Asesores de Seguros S.A.		Insurance Broker		100.00	%	100.00	%	100.00	%
Bolsillo Digital S.A.U.		Fintech		99.90	%	100.00	%	100.00	%
Supervielle Agente de Negociación S.A.U.		Financial Broker		100.00	%	100.00	%	100.00	%
Easy Cambio S.A.		Financial Company		100.00	%	100.00	%	—	%

(1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.89%, as of 12/31/2021, 12/31/2020 and 12/31/2019 respectively.

Summary of Financial Trust

The structured entity in which the Group was the trustor as of December 31, 2021 are set out below:

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Due of

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Financial

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principal

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Securitized

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Issued Securities

Issuers

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Trust

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Set-up on

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obligation

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Amount

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Type

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Amount

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Type

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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

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$

40,652

VDF TV A VDF B

VN$ 32,522

CP

VN$1,626

IUDÚ Compañia Financiera S.A

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24

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05/28/2021

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04/15/2022

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$

699,000

VDF

VN$ 559,200

CP

VN$ 139,800

IUDÚ Compañia Financiera S.A

25

10/01/2021

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09/15/2022

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$

703,600

VDF

VN$ 583,988

CP

VN$ 119,612

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

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Due of

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principal

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Securitized

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Issued Securities

Issuers

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Trust

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Set-up on

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obligation

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Amount

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Type

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Amount

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Type

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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

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$

40,652

VDF TV A VDF B

VN$32,522

CP

VN$1,626

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, 2021:

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​	​	​	​
​		12/31/2021
Assets
Loans		856,576
Financial assets		96,747
Other assets		7,805
Total Assets		961,128
Liabilities
Financial liabilities		542,110
Other liabilities		6,284
Total Liabilities		548,394

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

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​	​	​	​	​	​	​
Item		12/31/2021		12/31/2020		12/31/2019
Cash and due from banks		32,574,118		55,357,647		54,256,477
Debt securities at fair value through profit or loss		10,403,747		2,820,500		1,168,228
Money Market Funds		1,750,600		1,393,271		1,982,765
Cash and cash equivalents		44,728,465		59,571,418		57,407,470

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

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​	​	​	​	​	​	​
Items		12/31/2021		12/31/2020		12/31/2019
Cash and due from Banks
As per Statement of Financial Position		32,574,118		55,357,647		54,256,477
As per the Statement of Cash Flows		32,574,118		55,357,647		54,256,477
Debt securities at fair value through profit or loss						​
As per Statement of Financial Position		19,757,685		14,900,812		1,168,228
Securities not considered as cash equivalents		(9,353,938)		(12,080,312)		—
As per the Statement of Cash Flows		10,403,747		2,820,500		1,168,228
Money Market Funds
As per Statement of Financial Position – Other financial assets		13,922,961		6,468,183		4,308,910
Other financial assets not considered as cash equivalents		(12,172,361)		(5,074,912)		(2,326,145)
As per the Statement of Cash Flow		1,750,600		1,393,271		1,982,765

Summary of reconciliation of financing activities

Reconciliation of liabilities from financing activities at December 31, 2021, 2020 and 2019 is as follows:

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items		12/31/2020		Inflows		Outflows		movements		12/31/2021
Unsubordinated debt securities		6,379,922		2,252,098		(7,572,780)		—		1,059,240
Subordinated debt securities		1,721,443		-		(1,721,443)		—		—
Financing received from the Argentine Central Bank and other financial institutions		8,833,545		32,350,995		(34,931,992)		—		6,252,548
Lease Liabilities		1,783,674		—		(2,426,914)		2,001,505		1,358,265
Total		18,718,584		34,603,093		(46,653,129)		2,001,505		8,670,053

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​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items	​	12/31/2019	​	Inflows	​	Outflows		movements	​	12/31/2020
Unsubordinated debt securities		12,507,270		4,005,697		(10,242,448)		109,403		6,379,922
Subordinated debt securities		4,356,218		—		(2,678,103)		43,328		1,721,443
Financing received from the Argentine Central Bank and other financial institutions		18,530,516		22,450,153		(32,147,124)		—		8,833,545
Lease Liabilities		1,944,762		—		(2,062,110)		1,901,022		1,783,674
Total		37,338,766		26,455,850		(47,129,785)		2,053,753		18,718,584

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​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items	​	12/31/2018	​	Inflows	​	Outflows		movements	​	12/31/2019
Unsubordinated debt securities		29,421,323		17,286,639		(35,685,061)		1,484,369		12,507,270
Subordinated debt securities		4,374,447		—		(1,732,235)		1,714,006		4,356,218
Financing received from the Argentine Central Bank and other financial institutions		25,392,967		227,211,644		(234,068,388)		(5,707)		18,530,516
Lease Liabilities		—		—		(2,571,950)		4,516,712		1,944,762
Total		59,188,737		244,498,283		(274,057,634)		7,709,380		37,338,766

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Summary of impairment requirements on financial assets

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	​		​
Changes in the credit quality since initial recognition
Stage 1		Stage 2		Stage 3
(initial recognition)		(significant increase of credit risk since initial recognition)		(credit-impaired assets)
12 month- ECL	​	Lifetime ECL

Summary of significant increase in risk

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Very high risk	High risk
Entertainment	Construction
Real estate	Sports
​	Textile

Summary of groupings by shared risk characteristics

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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

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(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 citizens and former payroll

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(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

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​	​	​	​	​	​	​	​	​	​
Parameter	Industry / Segment		Macroeconomic Indicator	Scenario 1		Scenario 2		Scenario 3
​	​	Open Market	Monthly Economic Activity Estimator	143	​	149	​	137	​
​	​	​	Exchange Rate	173	​	165	​	181	​
​	​	Income Payroll	Inflation Rate	45.9	%	40.6	%	51.5	%
​	Personal and Business Banking	​	Exchange rate	173	​	165	​	181	​
​	​	​	Inflation Rate	45.9	%	40.6	%	51.5	%
Probability of Default	​	Senior Citizens	Monthly Economic Activity Estimator	143	​	149	​	137	​
​	Corporate Banking	​	Inflation Rate	46	%	41	%	51	%
​	​	All	Interest Rate	35.2	%	31.6	%	38.7	%
​	​	​	Private Sector Wage	45.4	%	49.9	%	40.9	%
​	Consumer Finance	IUDÚ	Quantity of Private Sector Employment	6,011	​	6,016	​	6,005	​
​	​	​	Exchange rate	173	​	165	​	181	​
​	​	IUDÚAutomobile secured	Monthly Economic Activity Estimator	143	​	149	​	137	​
​	Supervielle Bank	All	Private Sector Wage	45.9	%	40.6	%	51.5	%
Loss Given Default	​	IUDÚ	Monthly Economic Activity Estimator	143	​	149	​	137	​
​	Consumer Finance	​	Private Sector Wage	45.4	%	49.9	%	40.9	%
​	​	IUDÚ Automobile secured	Inflation Rate	45.9	%	40.6	%	51.5	%
​	​	​	Quantity of Private Sector Employment	6,011	​	6,016	​	6,005	​

Summary of Scenario Probabilities

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​	​	​	​
Scenario 1		60	%
Scenario 2		10	%
Scenario 3		30	%

Summary of ECL Allowance Sensitivity to Future Macro economic Conditions

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​	​	​	​
December 31, 2021
Reported ECL Allowance		10,047,819	​
Gross carrying amount		165,522,148	​
Reported Loss rate		6.07	%
ECL amount by scenarios			​
Favorable scenario		9,644,480	​
Unfavorable scenario		10,553,582	​
​	​	​	​
Loss Rate by scenarios	​	​	​
Favorable scenario	​	5.83	%
Unfavorable scenario	​	6.38	%

Summary of Useful Life of Property, Plant and Equipment

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​	​	​
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 movement in investment properties

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​	​	​	​	​
​		12/31/2021		12/31/2020
Income derived from rents (rents charged)		17,349		14,670
Direct operating expenses of properties that generated income derived from rents		(7,321)		(10,018)
Fair value remeasurement		(441,020)		(139,556)
Total		(430,992)		(134,904)

Summary of the main commissions earned

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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

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