Grupo Supervielle S.A. - SUPV STOCK NEWS

Grupo Supervielle S.A. (NYSE: SUPV) has announced the appointment of Gustavo Manriquez as CEO of Banco Supervielle, effective October 1, 2024. Manriquez, who previously served as CEO and General Manager of Banco Macro since 2016, brings over 30 years of experience in the Argentine financial industry. He succeeds Alejandro Stengel, who is stepping down after four years as CEO.

Manriquez holds a bachelor's degree in business administration, a postgraduate degree in Finance, and an MBA. He has a strong track record in developing digital strategies and driving growth through strategic partnerships. Upon his appointment, Manriquez expressed his commitment to continuing innovation and growth at Banco Supervielle.

Patricio Supervielle, Chairman and CEO of Grupo Supervielle, expressed confidence in Manriquez's ability to guide the bank through its next growth stage and contribute to Argentina's economic transformation. The appointment is subject to customary regulatory procedures.

Grupo Supervielle S.A. (NYSE: SUPV) reported solid performance in 2Q24, with net income of AR$17.1 billion and ROAE at 10.4%. The company's loan portfolio expanded 36% sequentially and 13% year-on-year in real terms. Key highlights include:

- NIM reached 36.3% amid declining policy rates
- Market share in loans increased by 30 bps in the quarter and 70 bps year-to-date
- NPL ratio decreased to a historic low of 0.8%
- Digital retail client base expanded to 65% of total retail customers
- IOL, the company's online brokerage platform, exceeded 500,000 active clients

The company's strategic initiatives and exposure to high-potential export-oriented industries position it well for growth as the economy recovers.

Grupo Supervielle (NYSE: SUPV; BYMA: SUPV), an Argentinian financial services group, reported significant profitability in Q1 2024 with a net income of AR$46.5 billion, up significantly from AR$2.2 billion in the same quarter last year. The company's Return on Average Equity (ROAE) reached a record 33.8%, driven by a high Net Interest Margin (NIM) of 62% and improved efficiencies.

Loan demand showed signs of recovery, with a 2.6% sequential increase in the loan book and a 40 bps gain in market share. Corporate and car loans also gained market share. The Non-Performing Loan (NPL) ratio hit a historic low of 1.1%, and the coverage ratio improved to 264%.

Supervielle expanded its digital client base, now accounting for 64% of total clients, and improved its efficiency ratio to 34%. The company launched new 30-year mortgage loans and grew its online brokerage and crypto offerings. Total assets decreased by 17.8% QoQ, but loans expanded by 55.5% QoQ in nominal terms. Common Equity Tier 1 Ratio improved to 24.7%.

Grupo Supervielle S.A. (NYSE: SUPV) announced the filing of its 2023 Annual Report on Form 20-F with the SEC, showcasing financial statements under IFRS with exceptions. Shareholders can access the report online or request a hard copy for free.

Grupo Supervielle S.A. reports improved profitability in 4Q23 and FY23, with ROE at 26.9% and 16.7% respectively. The company highlights a strong quarter, record high ROAE, NIM spike, and NPL ratio improvement. They emphasize digital transformation, branch network consolidation, and increased customer engagement. Noteworthy achievements include retail digital customer expansion, digital loan originations, and strong adoption of digital wallet services. The company also showcases success in the corporate segment, ranking first in trade finance and becoming the leading online retail broker in Argentina. Looking ahead, Grupo Supervielle remains confident in its ability to navigate challenges and drive expansion, with a solid Tier 1 capital ratio and a commitment to sustainability.

Grupo Supervielle S.A. (SUPV) reported improved profitability with ROE at 18.5% in 3Q23 and 12.9% in 9M23. The NPL ratio reached a historic low of 1.7%, and the company achieved an 8% decline in personnel and administrative expenses. Attributable Net Income was AR$9.5 billion in 3Q23, compared to a net loss of AR$1.3 billion in 3Q22. The efficiency ratio improved to 51.7% in 3Q23 from 73.1% in 3Q22.

Grupo Supervielle reported positive 2Q23 results with a ROAE of 17.6% in real terms. NIM reached 26.6% driven by a 20.4% sequential increase in net financial income. The NPL ratio declined to a low of 2.5% this quarter. Attributable Net Income was AR$6.3 billion in 2Q23 compared to a net loss of AR$3.8 billion in 2Q22. Total Deposits expanded 39.8% QoQ and 89.4% YoY in nominal terms.

Grupo Supervielle S.A. (NYSE: SUPV) filed its annual report on Form 20-F for the year ended December 31, 2022, with the SEC on April 26, 2023. The financial statements, prepared under International Financial Reporting Standards (IFRS), reflect significant differences compared to those issued under the regulations of the Central Bank of the Republic of Argentina (BCRA). Notably, IFRS adopted without exceptions means no partial adoption is allowed. Investors can access the Form 20-F on the Company's website or request a hard copy of the audited financial statements for free. Grupo Supervielle, with over 130 years in Argentina, offers diverse financial services through multiple platforms and brands, serving 1.8 million active clients.