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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2023
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | 14. INTANGIBLE ASSETS Intangible assets of Grupo Supervielle for fiscal years ended on December 31, 2023 and 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross carrying amount | ​ | Depreciation | ​ |
​ | ​ | At the | ​ | ​ | ​ | Additions | ​ | ​ | ​ | ​ | ​ | At the | ​ | At the | ​ | ​ | ​ | ​ | ​ | ​ | ​ | At the | ​ | Net carrying
​ | ​ | beginning | ​ | ​ | ​ | by business | ​ | ​ | ​ | ​ | ​ | End of the | ​ | beginning | ​ | ​ | ​ | By business | ​ | ​ | ​ | End of the | ​ | amount at
Item |  | of the year |  | Additions |  | combinations |  | Impairment |  | Disposals |  | year |  | of the year |  | Disposals |  | combinations |  | Of the year |  | year |  | 12/31/2023
Measurement at cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Goodwill | ​ | 31,027,144 | ​ | — | ​ | — | ​ | (4,000,000) | ​ | — | ​ | 27,027,144 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 27,027,144
Brands |  | 1,831,210 |  | — | ​ | — | ​ | — | ​ | — | ​ | 1,831,210 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,831,210
Other intangible assets(*) |  | 88,245,470 | ​ | 16,916,944 | ​ | — | ​ | — | ​ | (756,231) | ​ | 104,406,183 |  | (51,735,118) | ​ | 93,369 | ​ | — | ​ | (13,988,733) | ​ | (65,630,482) | ​ | 38,775,701
TOTAL |  | 121,103,824 | ​ | 16,916,944 | ​ | — | ​ | (4,000,000) | ​ | (756,231) | ​ | 133,264,537 |  | (51,735,118) | ​ | 93,369 | ​ | — | ​ | (13,988,733) | ​ | (65,630,482) | ​ | 67,634,055
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross carrying amount | ​ | Depreciation | ​ |
​ | ​ | At the | ​ | ​ | ​ | Additions | ​ | ​ | ​ | ​ | ​ | At the | ​ | At the | ​ | ​ | ​ | ​ | ​ | ​ | ​ | At the | ​ | Net carrying
​ | ​ | beginning | ​ | ​ | ​ | by business | ​ | ​ | ​ | ​ | ​ | End of the | ​ | beginning | ​ | ​ | ​ | By business | ​ | ​ | ​ | End of the | ​ | amount at
Item |  | of the year |  | Additions |  | combinations |  | Impairment |  | Disposals |  | year |  | of the year |  | Disposals |  | combinations |  | Of the year |  | year |  | 12/31/2022
Measurement at cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Goodwill | ​ | 33,327,743 | ​ | — | ​ | — | ​ | (2,300,599) | ​ | — | ​ | 31,027,144 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 31,027,144
Brands |  | 1,831,210 |  | — | ​ | — | ​ | — | ​ | — | ​ | 1,831,210 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,831,210
Other intangible assets(*) |  | 71,107,364 | ​ | 17,707,912 | ​ | — | ​ | — | ​ | (569,806) | ​ | 88,245,470 |  | (36,979,731) | ​ | 485,868 | ​ | — | ​ | (15,241,255) | ​ | (51,735,118) | ​ | 36,510,352
TOTAL |  | 106,266,317 |  | 17,707,912 |  | — |  | (2,300,599) |  | (569,806) |  | 121,103,824 |  | (36,979,731) |  | 485,868 |  | — |  | (15,241,255) |  | (51,735,118) |  | 69,368,706
(*)mainly include systems and programs. ​ 14.1 Goodwill impairment Goodwill is assigned to Grupo Supervielle’s cash generating units on the basis of the operating segments. ​
​ | ​ | ​ | ​ | ​
​ |  | 12/31/2023 |  | 12/31/2022
Supervielle Seguros S.A. | ​ | 88,686 |  | 88,686
Banco Regional de Cuyo S.A. | ​ | 464,982 |  | 464,982
InvertirOnline S.A.U. / Portal Integral de Inversiones S.A.U. | ​ | 16,902,605 |  | 16,902,605
Micro Lending S.A.U. | ​ | 9,308,612 |  | 13,308,612
Supervielle Agente de Negoación S.A.U. | ​ | 46,943 | ​ | 46,943
Others | ​ | 215,316 |  | 215,316
TOTAL | ​ | 27,027,144 |  | 31,027,144
​ The recoverable amount of a cash generating unit is determined on the basis of its value in use. These method uses cash flow projections based on approved financial budgets covering a period of five years. The key assumptions are related to marginal contribution margins. These were determined on the basis of past performance, other external sources of information and the expectations of market development. The discount rates used were 15.6% and they were determined by using the average cost of capital (“WACC”), which is considered a good indicator of the cost of capital. For each cash generating unit, where the assets are assigned, a specific WACC was determined considering the industry and the size of the business. The main macroeconomic assumptionsused include the number of borrowings originated by MILA (“Micro Lending”) and IOL (“ InvertirOnline”) operating income: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Real | ​ | Forecast | ​ | Forecast | ​ | Forecast | ​ | Forecast | ​ | Forecast |
​ |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |
Inflation (end of period) |  | 211.4 | % | 205.6 | % | 80.4 | % | 49.8 | % | 23.7 | % | 8.5 | %
Inflation (average) |  | 133.5 | % | 249.1 | % | 104.9 | % | 62.0 | % | 34.4 | % | 13.4 | %
Cost of funding (average) |  | 63.0 | % | 70.0 | % | 45.3 | % | 31.6 | % | 17.8 | % | 9.4 | %
Loan’s interest rate (average) |  | 82.8 | % | 88.0 | % | 59.3 | % | 43.6 | % | 27.8 | % | 17.4 | %
Number of borrowings originated by Micro Lending | ​ | 5,798 | ​ | 7,080 | ​ | 9,996 | ​ | 12,504 | ​ | 14,004 | ​ | 14,004 | ​
InvertirOnline'Operating income | ​ | 7,326 | ​ | 21,213 | ​ | 51,990 | ​ | 88,474 | ​ | 118,939 | ​ | 134,834 | ​
​ As of December 31, 2023, political conditions negatively affected the Argentine economy in general, the main impacts are detailed below: • An inflationary acceleration and greater devaluation of the Argentine peso, with the accumulated inflation index being 211.4% during 2023 (CPI) and the variation in the BCRA exchange rate Com. “A” 3,500, for the same period, of 356.4%. • Exchange restrictions in order to contain the demand for dollars. • Reduction of the 1-day repo rate from 126% to 100% n.a. (171.5% e.a.). Thus, the interest rate on 1-day repos for private funds was 85% n.a. (133.7% n.a.), while the 1-day reverse repo interest rate remained at 160% n.a. (393.6% e.a.). To what was mentioned above we must add the following conditions that negatively affected the Micro Lending business: • During 2023, automobile loans have decreased their share of the product more than loans to the non-financial private sector as a whole. • The market share of automobile loans in the Argentinian financial system (BCRA) is at historic lows, representing 0.2% of GDP. • Both the patenting of 0KM units, and the percentage of these transactions that are carried out through financing, are in slight recovery but quite far from historical highs. • Financing of the purchase of used vehicles is relevant to MILA's operations. This business has not been immune to the forementioned market conditions, the amount of loans granted was in the order of 5,800 operations (1% below 2022), which is an historical low for the business. As a consequence of these macroeconomic conditions The Group recorded an impairment of $4,000,000 of the goodwill of Micro Lending S.A.U., as of December 31, 2023, which was recorded in depreciation and impairment of non-financial assets line of the Income Statement. The impairment was included in the “People and Business” segment. The value attributable to the cash-generating unit in which the goodwill was included was 10,477,611 as of December 31, 2023. No additional impairment was determined for the remaining goodwill recorded within Intangible Assets as of December 31, 2023. The sensitivity analysis of the cash generating units to which goodwill was assigned, excluding Micro Lending S.A.U., was based on a 1% increase in the weighted average cost of capital. The Group concluded that it would not be necessary to recognize any impairment losses on goodwill in the segment under these conditions.

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