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ACCOUNTING STANDARDS AND BASIS OF PREPARATION (Tables)

12 Months Ended

Dec. 31, 2023

ACCOUNTING STANDARDS AND BASIS OF PREPARATION

Summary of Effects of Variation in Prices of Price Index

​

​	​	​	​	​	​	​	​
​	​	As of December 31,					​
Variation in Prices		2021		2022		2023
Annual		50.9	%	94.8	%	211.4	%
Accumulated 3 years		216.1	%	300.3	%	815.6	%

Summary of effect of insurance contracts initially recognized

​

​	​	​	​	​	​	​
​	​	January 1, 2022
​	​	Insurance contracts under IFRS 4	​	Re-measured	​	Insurance contracts under IFRS 17
Assets	​	5,229,639	​	(4,843,303)	​	386,336
Liabilities	​	(4,958,210)	​	4,808,718	​	(149,492)
Total	​	271,429	​	(34,585)	​	236,844

Summary of Subsidiaries Included in Consolidation Process

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	Percentage of direct or indirect investment in capital stock
Company		Main Activity		12/31/2023		12/31/2022		12/31/2021
Banco Supervielle S.A.		Commercial Bank		99.90	% (1)	99.90	% (1)	99.90	% (1)
IUDÚ Compañia Financiera S.A		Financial Company		—	% (2)	99.90	%	99.90	%
Tarjeta Automática S.A.		Credit Card		—	% (2)	99.91	%	99.99	%
Supervielle Asset Management S.A.		Asset Management and Other Services		100.00	%	100.00	%	100.00	%
Sofital S.A.U.F.e.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	%
Portal Integral de Inversiones S.A.U.		Representations		100.00	%	100.00	%	100.00	%
IOL Holding S.A.	​	Financial Company	​	100.00	%	100.00	%	100.00	%
Supervielle Productores Asesores de Seguros S.A.		Insurance Broker		100.00	%	100.00	%	100.00	%
Bolsillo Digital S.A.U.		Fintech		100.00	%	100.00	%	100.00	%
Supervielle Agente de Negociación S.A.U.		Financial Broker		100.00	%	100.00	%	100.00	%
Dólar IOL S.A.U.		Financial Company		100.00	%	100.00	%	100.00	%

(1) Grupo Supervielle S.A.’s direct and indirect interest in Banco Supervielle S.A votes amounts to 99.87%, as of 12/31/2023, 12/31/2022 and 12/31/2021 respectively.

(2) On June 8, 2023, a definitive merger commitment between Banco Supervielle S.A. IUDÚ Compañía Financiera S.A. and Tarjeta Automática S.A.was signed. Refer to note 33 of the consolidated financial statements for more detail on the agreement.

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

​

​	​	​	​	​	​	​
Item		12/31/2023		12/31/2022		12/31/2021
Cash and due from banks		229,098,272		150,719,643		197,594,880
Debt securities at fair value through profit or loss		20,598,059		17,471,554		63,109,218
Money Market Funds		3,020,560		1,217,168		10,619,154
Cash and cash equivalents		252,716,891		169,408,365		271,323,252

​

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

​

​	​	​	​	​	​	​
Items		12/31/2023		12/31/2022		12/31/2021
Cash and due from Banks
As per Statement of Financial Position		229,098,272		150,719,643		197,594,880
As per the Statement of Cash Flow		229,098,272		150,719,643		197,594,880
Debt securities at fair value through profit or loss						​
As per Statement of Financial Position		46,415,822		69,707,595		119,850,286
Securities not considered a cash equivalents		(25,817,763)		(52,236,041)		(56,741,068)
As per the Statement of Cash Flow		20,598,059		17,471,554		63,109,218
Money Market Funds
As per Statement of Financial Position – Other financial assets		46,499,784		25,246,191		84,456,802
Other financial assets not considered a cash equivalents		(43,479,224)		(24,029,023)		(73,837,648)
As per the Statement of Cash Flow		3,020,560		1,217,168		10,619,154

Summary of reconciliation of financing activities

Reconciliation of liabilities from financing activities at December 31, 2023, 2022 and 2021 is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items		12/31/2022		Inflows		Outflows		movements		12/31/2023
Unsubordinated debt securities		1,748,271		34,552		(1,782,823)		—		—
Financing received from the Argentine Central Bank and other financial institutions		17,219,834		137,801,435		(152,329,300)		—		2,691,969
Lease Liabilities		4,884,311		—		(5,004,160)		2,977,354		2,857,505
Total		23,852,416		137,835,987		(159,116,283)		2,977,354		5,549,474

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items	​	12/31/2021	​	Inflows	​	Outflows		movements	​	12/31/2022
Unsubordinated debt securities		6,425,358		—		(4,677,087)		—		1,748,271
Financing received from the Argentine Central Bank and other financial institutions		37,928,009		522,953,299		(543,661,474)		—		17,219,834
Lease Liabilities		8,239,249		—		(7,927,034)		4,572,096		4,884,311
Total		52,592,616		522,953,299		(556,265,595)		4,572,096		23,852,416

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Cash Flows			​	Other non-cash	​	​
Items	​	12/31/2020	​	Inflows	​	Outflows		movements	​	12/31/2021
Unsubordinated debt securities		38,700,661		13,661,245		(45,936,548)		—		6,425,358
Subordinated debt securities		10,442,289		—		(10,442,289)		—		—
Financing received from the Argentine Central Bank and other financial institutions		53,584,358		196,241,415		(211,897,764)		—		37,928,009
Lease Liabilities		10,819,781		—		(14,721,681)		12,141,149		8,239,249
Total		113,547,089		209,902,660		(282,998,282)		12,141,149		52,592,616

​

Summary of risk rating matrix by industry

​

RISK RATING BY INDUSTRY
Agriculture	Low	Utilities (Power generation)	Medium
Food and Drinks	Low	Utilities (Trans. And dist. of energy)	Medium
Financial	Low	Chemicals and plastics	Medium
Supermarkets	Low	Auto Parts/Dealers	Medium
Utilities (water and waste)	Low	Cargo transportation	Medium
Oil and mining	Low	Construction	Medium
Pharmaceutical	Low	Art.Home	Medium
IT/Communications	Low	Insurance	Medium
Cleaning	Low	Paper, cardboard, wood, glass	Medium
Oil Industry	Low	Dairy industry	Medium
Wine industry	Low	Private construction	Medium
Citrus Industry	Low	Iron and steel industry	Medium
Automotive terminals	Low	Machinery and equipment	Medium

RISK RATING BY INDUSTRY
SGR	Low	Professionals	Medium
Others	Low	Home Appliances (Product.)	Medium
Sugar Industry	Medium	Appliances (Commercial)	Medium
Public Construction	High	Health	High
Textile	Medium	Tourism and gastronomy	Medium
Real Etate	Medium	Passenger Transport	Medium
Sports	Medium	Refrigerators	Medium
Entertaiment	Medium	​	​

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
				Automobile and other secured loans
				Refinancing
				Other financings
		Loss Given Default (LGD)	Personal loans (1)
				Credit card loans (1)
				Automobile and other secured loans
				Overdrafts
				Mortgage loans

Group	Parameter	Grouping
		Refinancing
				Other financings

​

Group	Parameter	Grouping
Corporate Banking	Probability of Default (PD) (2)	Medium companies
				Small companies
				Financial sector
		Severidad (LGD)	Secured loans
				Unsecured loans

​

(1) For credit cards and personal loans, Grupo Supervielle 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.

​

(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 Scenario Probabilities

The most significant assumptions used to calculate ECL as of December 31, 2023 are as follows:

​	​	​	​	​	​	​	​	​
Parameter	Industry / Segment	Macroeconomic Indicator	Scenario 1		Scenario 2		Scenario 3
​	Personal and Business Banking	Inflation Rate	205.6	%	173.9	%	301.7	%
Probability of Default	​	Private Sector Real Wage	(0.2)	%	2.9	%	(5.0)	%
​	Corporate Banking	Private Sector Real Wage	(0.2)	%	2.9	%	(5.0)	%
​	​	Monthly Economic Activity Estimator	145	​	150	​	141	​
​	Personal and Business Banking	Private Sector Real Wage	(0.2)	%	2.9	%	(5.0)	%
Loss Given Default	​	Monetary Policy Rate	105.0	%	94.5	%	154.1	%
​	Corporate Banking	Private Sector Real Loans	245.2	%	109.4	%	193.7	%
​	​	Exchange rate	2,011	​	1,857	​	3,374	​
​	​	​	​	​	​	​	​	​

Summary of Scenario Probabilities

​

​	​	​	​
Scenario 1		60	%
Scenario 2		20	%
Scenario 3		20	%

Summary of ECL Allowance Sensitivity to Future Macro economic Conditions

​

​	​	​	​
December 31, 2023
Reported ECL Allowance		17,448,828	​
Gross carrying amount		499,903,912	​
Reported Loss rate		3.49	%
Irregular Portfolio Coverage	​	236.48	%
ECL amount by scenarios			​
Favorable scenario (Allowances for loan losses)		15,715,368	​
Unfavorable scenario (Allowances for loan losses)		19,595,418	​
​	​	​	​
Loss Rate by scenarios	​	​	​
Favorable scenario	​	3.14	%
Unfavorable scenario	​	3.92	%
​	​	​	​
Coverage Ratio by Scenario	​	​	​
Favorable scenario	​	212.98	%
Unfavorable scenario	​	265.57	%

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
Land	​	Not depreciated
Construction in progress		Not depreciated

Summary of movement in investment properties

​

​	​	​	​	​
​		12/31/2023		12/31/2022
Income derived from rents (rents charged)		89,087		228,579
Direct operating expenses of properties that generated income derived from rents		(15,681)		(17,655)
Fair value remeasurement		(7,012,278)		(2,503,275)
Total		(6,938,872)		(2,292,351)

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