SUPV Contact+
Investor Relations Contacts:
Ana Bartesaghi
Treasurer and Investor Relations Officer
5411-4324-8132
Ana.BARTESAGHI@supervielle.com.ar
Gustavo Tewel
5411-4324-8158
Gustavo.TEWEL@supervielle.com.ar
Nahila Schianmarella
5411-4324-8135
Nahila.SCHIANMARELLA@supervielle.com.ar
Valeria Kohan
5411-4340-3013
Valeria.KOHAN@supervielle.com.ar
For information about Grupo Supervielle, visit:
www.gruposupervielle.com.
mailto:Ana.BARTESAGHI@supervielle.com.armailto:Gustavo.TEWEL@supervielle.com.armailto:Nahila.SCHIANMARELLA@supervielle.com.armailto:Valeria.KOHAN@supervielle.com.arhttp://www.gruposupervielle.com./
Highlights
Highlights
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) % Change
INCOME STATEMENT 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY FY20 FY19 % Chg.
Net Interest Income 8,147.1 9,339.7 9,710.7 8,878.3 6,265.2 -12.8% 30.0% 36,075.8 13,452.2 168.2%
NIFFI & Exchange Rate Differences 1,188.1 1,667.5 1,207.4 518.2 4,715.7 -28.8% -74.8% 4,581.2 28,095.2 -83.7%
Net Financial Income 9,335.2 11,007.2 10,918.1 9,396.6 10,980.9 -15.2% -15.0% 40,657.0 41,547.4 -2.1%
LELIQ Result from exposure to changes in the purchasing power of the currency -4,267.6 -4,874.0 -2,690.4 0.0 0.0 -12.4% - - 11,832.0 - 0
Net Service Fee Income (excluding income from insurance activities) 1,865.4 1,937.7 1,948.4 2,194.4 1,966.7 -3.7% -5.2% 7,945.9 8,652.6 -8.2%
Income from Insurance activities 432.8 364.1 466.2 408.4 395.6 18.9% 9.4% 1,671.5 1,667.3 0.3%
RECPPC 3,176.2 3,928.8 2,028.8 -1,097.9 -1,613.6 -19.2% - 8,035.8 - 7,891.9
Loan Loss Provisions -1,011.4 -3,031.8 -2,715.8 -1,996.1 -1,541.8 -66.6% -34.4% - 8,755.2 - 10,524.4 -16.8%
Personnel & Administrative Expenses 7,359.1 7,124.2 7,202.0 6,795.0 8,289.1 3.3% -11.2% 28,480.3 29,594.0 -3.8%
Profit before income tax 753.6 970.3 1,418.9 1,006.5 -778.3 -22.3% - 4,149.4 - 3,746.7 -
Attributable Net income 657.4 957.0 1,225.1 572.6 -703.7 -31.3% - 3,412.1 - 3,993.5 -
Attributable Comprehensive income 981.1 846.8 1,597.7 511.7 -582.9 15.9% - 3,937.4 - 3,875.8 -
Earnings per Share (AR$) 2.1 1.9 3.5 1.1 -1.3 8.6 (8.5)
Earnings per ADRs (AR$) 10.7 9.3 17.5 5.6 -6.4 43.1 (42.4)
Average Outstanding Shares (in millions) 456.7 456.7 456.7 456.7 456.7 456.7 456.7
BALANCE SHEET dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Total Assets 249,918.9 262,941.4 271,518.8 248,758.2 203,428.0 -5.0% 22.9%
Average Assets1 251,314.9 268,640.8 250,358.3 233,111.9 221,602.3 -6.4% 13.4%
Total Loans & Leasing2 110,364.4 114,430.2 120,185.4 116,478.8 125,460.2 -3.6% -12.0%
Total Deposits 178,641.6 189,544.5 194,789.4 174,291.0 121,176.3 -5.8% 47.4%
Attributable Shareholders' Equity 36,338.5 35,367.9 34,521.1 33,442.9 32,931.2 2.7% 10.3%
Average Attributable Shareholders' Equity1 35,622.0 34,938.8 34,149.2 30,669.2 29,212.0 2.0% 21.9%
KEY INDICATORS 4Q20 3Q20 2Q20 1Q20 4Q19 FY20 FY19
Profitability & Efficiency
ROAE 7.4% 11.0% 14.4% 7.5% -9.6% 9.9% -12.6%
ROAA 1.0% 1.4% 2.0% 1.0% -1.3% 1.3% -1.5%
Net Interest Margin (NIM) 19.5% 21.2% 23.5% 22.8% 29.0% 21.3% 21.0%
Net Fee Income Ratio 20.6% 17.1% 17.8% 21.4% 17.5% 19.1% 19.6%
Cost / Assets 12.7% 11.5% 12.5% 12.6% 16.8% 12.0% 11.8%
Efficiency Ratio 72.8% 61.2% 62.1% 64.5% 79.9% 64.9% 69.0%
Liquidity & Capital
Total Loans to Total Deposits 61.8% 60.4% 61.7% 66.8% 103.5%
AR$ Loans to AR$ Deposits 62.0% 57.4% 57.2% 62.3% 107.7%
US$ Loans to US$ Deposits 60.4% 80.0% 89.6% 88.3% 91.9%
Liquidity Coverage Ratio (LCR)3 111.4% 123.6% 126.1% 130.2% 150.3%
Total Equity / Total Assets 14.5% 13.5% 12.7% 13.4% 16.2%
Capital / Risk weighted assets 4 14.4% 14.7% 14.2% 14.0% 12.1%
Tier1 Capital / Risk weighted assets 5 13.8% 14.0% 13.4% 13.3% 11.8%
Risk Weighted Assets / Total Assets 70.0% 69.0% 68.2% 69.8% 89.2%
Asset Quality
NPL Ratio 3.7% 4.5% 6.1% 6.7% 7.4%
Allowances as a % of Total Loans 7.0% 8.1% 7.7% 6.6% 6.3%
Coverage Ratio 191.5% 181.3% 127.1% 99.6% 83.0%
Cost of Risk 3.1% 11.2% 10.1% 7.2% 5.1% 7.8% 8.1%
MACROECONOMIC RATIOS
Retail Price Index (%)6 11.3% 7.7% 5.4% 7.8% 11.7%
Avg. Retail Price Index (%) 36.4% 39.3% 43.9% 50.5% 52.1%
UVA (var) 9.9% 6.3% 6.7% 9.5% 14.3%
Pesos/US$ Exchange Rate 84.15 76.18 70.46 64.47 59.90
Badlar Interest Rate (eop) 34.3% 29.7% 29.7% 27.6% 39.4%
Badlar Interest Rate (avg) 32.5% 29.6% 24.4% 33.2% 48.1%
Monetary Policy Rate (eop) 38.0% 38.0% 38.0% 38.0% 55.0%
Monetary Policy Rate (avg) 37.3% 38.0% 38.0% 45.6% 65.3%
OPERATING DATA
Active Customers (in millions)7 1.9 1.9 1.9 1.8 1.8
Bank Branches 198 198 198 198 198
Other Acces Points 104 104 104 118 118
Employees8 4,943 5,005 4,976 4,960 5,019
Highlights - Non-restated
(In millions of Argentine Ps.) % Change
INCOME STATEMENT 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY FY20 FY19 % Chg.
Net Interest Income 7,453.9 8,397.7 8,109.2 6,840.0 4,412.3 -11.2% 68.9% 30,800.9 8,525.0 261.3%
NIFFI & Exchange Rate Differences 1,812.3 1,290.8 941.8 397.4 3,245.5 40.4% -44.2% 4,442.4 16,448.9 -73.0%
Net Financial Income 9,266.2 9,688.6 9,051.1 7,237.5 7,657.8 -4.4% 21.0% 35,243.3 24,973.9 41.1%
Net Service Fee Income (excluding income from insurance activities) 1,776.7 1,685.3 1,583.2 1,692.5 1,348.7 5.4% 31.7% 6,737.7 5,166.6 30.4%
Income from Insurance activities 777.8 293.9 355.4 289.6 266.8 164.7% 191.5% 1,716.7 946.1 81.4%
Loan Loss Provisions -974.8 -2,650.7 -2,205.3 -1,541.8 -1,368.1 -63.2% -28.7% - 7,372.7 - 6,479.3 13.8%
Personnel & Administrative Expenses 7,095.3 6,223.1 5,884.0 5,231.1 5,690.4 14.0% 24.7% 24,433.5 17,949.3 36.1%
Profit before income tax 4,219.9 1,962.6 1,992.0 1,780.4 1,029.8 115.0% 309.8% 9,954.9 3,228.0 208.4%
Attributable Net income 3,946.6 1,930.3 1,923.5 1,465.7 1,466.2 104.5% 169.2% 9,266.0 4,257.9 117.6%
Attributable Comprehensive income 5,133.4 2,223.8 1,875.0 1,417.2 1,570.3 130.8% 226.9% 10,649.4 4,827.1 120.6%
Earnings per Share (AR$) 11.2 4.9 4.1 3.1 3.4
Earnings per ADRs (AR$) 56.2 24.3 20.5 15.5 17.2
Average Outstanding Shares (in millions) 456.7 456.7 456.7 456.7 456.7
BALANCE SHEET dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Total Assets 245,369.1 231,155.9 222,401.1 192,679.5 146,493.1 6.1% 67.5%
Average Assets1 238,262.5 226,778.5 207,540.3 169,586.3 156,563.6 5.1% 52.2%
Total Loans & Leasing 110,364.4 102,787.4 100,280.6 92,230.8 92,154.9 7.4% 19.8%
Total Deposits 178,641.6 170,259.1 158,604.2 135,795.5 89,008.2 4.9% 100.7%
Attributable Shareholders' Equity 31,903.4 26,770.0 24,876.9 22,685.2 21,680.0 19.2% 47.2%
Average Attributable Shareholders' Equity1 29,336.7 25,823.5 23,781.1 22,182.6 20,638.5 13.6% 42.1%
PROFITABILITY 4Q20 3Q20 2Q20 1Q20 4Q19 FY20 FY19
ROAE 53.8% 29.9% 32.4% 26.4% 28.4% 34.2% 22.6%
ROAA 6.6% 3.4% 3.7% 3.5% 3.7% 4.1% 2.7%
Net Income
Income Statement % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY FY20 FY19 % YoY
Consolidated Income Statement Data IFRS:
Interest income 16,304.5 16,551.0 15,299.0 16,495.4 15,744.1 -1.5% 3.6% 64,649.9 60,983.6 6.0%
Interest expenses -8,157.5 -7,211.3 -5,588.3 -7,617.1 -9,478.9 13.1% -13.9% -28,574.1 -47,531.4 -39.9%
Net interest income 8,147.1 9,339.7 9,710.7 8,878.3 6,265.2 -12.8% 30.0% 36,075.8 13,452.2 168.2%
Net income from financial instruments at fair value through profit or loss 958.1 1,188.8 783.7 385.0 4,026.0 -19.4% -76.2% 3,315.6 28,536.4 -88.4%
Result from recognition of assets measured at amortized cost -67.0 188.3 65.1 14.7 0.0 - - 201.1 0.0 -
Exchange rate difference on gold and foreign currency 297.0 290.4 358.6 118.5 689.7 2.3% -56.9% 1,064.5 -441.2 -
NIFFI & Exchange Rate Differences 1,188.1 1,667.5 1,207.4 518.2 4,715.7 -28.8% -74.8% 4,581.2 28,095.2 -83.7%
Net Financial Income 9,335.2 11,007.2 10,918.1 9,396.6 10,980.9 -15.2% -15.0% 40,657.0 41,547.4 -2.1%
LELIQ Result from exposure to changes in the purchasing power of the currency -4,267.6 -4,874.0 -2,690.4 0.0 0.0 -12.4% - -11,832.0 0.0 -
Fee income 2,868.4 2,844.5 2,741.2 3,039.8 2,792.9 0.8% 2.7% 11,493.8 11,707.6 -1.8%
Fee expenses -1,002.9 -906.8 -792.7 -845.4 -826.2 10.6% 21.4% -3,547.9 -3,055.0 16.1%
Income from insurance activities 432.8 364.1 466.2 408.4 395.6 18.9% 9.4% 1,671.5 1,667.3 0.3%
Net Service Fee Income 2,298.2 2,301.8 2,414.7 2,602.7 2,362.3 -0.2% -2.7% 9,617.3 10,319.9 -6.8%
Subtotal 7,365.8 8,435.0 10,642.3 11,999.3 13,343.2 -12.7% -44.8% 38,442.3 51,867.3 -25.9%
Result from exposure to changes in the purchasing power of the currency 3,176.2 3,928.8 2,028.8 -1,097.9 -1,613.6 -19.2% - 8,035.8 -7,891.9 -
Other operating income 806.8 1,001.5 1,043.3 1,034.5 994.4 -19.4% -18.9% 3,886.2 3,742.3 3.8%
Loan loss provisions -1,011.4 -3,031.8 -2,715.8 -1,996.1 -1,541.8 -66.6% -34.4% -8,755.2 -10,524.4 -16.8%
Net Operating Income 10,337.4 10,333.5 10,998.7 9,939.7 11,182.3 0.0% -7.6% 41,609.2 37,193.4 11.9%
Personnel expenses 4,564.4 4,638.9 4,466.1 4,498.4 5,509.2 -1.6% -17.1% 18,167.8 19,283.3 -5.8%
Administration expenses 2,794.6 2,485.3 2,735.9 2,296.7 2,779.9 12.4% 0.5% 10,312.5 10,310.7 0.0%
Depreciations and impairment of assets 635.0 610.7 590.7 570.7 1,010.5 4.0% -37.2% 2,407.0 2,691.2 -10.6%
Turnover tax 965.1 958.6 977.3 1,049.5 1,162.4 0.7% -17.0% 3,950.5 5,104.6 -22.6%
Other operating expenses 624.5 669.7 809.8 517.9 1,498.6 -6.7% -58.3% 2,621.9 3,550.3 -26.1%
Operating income 753.6 970.3 1,418.9 1,006.5 -778.3 -22.3% - 4,149.4 -3,746.7 -
Profit before income tax 753.6 970.3 1,418.9 1,006.5 -778.3 -22.3% - 4,149.4 -3,746.7 -
Income tax 95.8 12.8 193.0 433.5 -74.0 649.3% - 735.0 250.4 193.6%
Net income for the year 657.9 957.6 1,225.9 573.1 -704.3 -31.3% - 3,414.4 -3,997.1 -
Net income for the year attributable to parent company 657.4 957.0 1,225.1 572.6 -703.7 -31.3% - 3,412.1 -3,993.5 -
Net income for the year attributable to non-controlling interest 0.5 0.6 0.8 0.5 -0.6 -19.5% -172.5% 2.3 -3.6 -
Other Comprehensive Income, net of tax 324.1 -110.3 373.0 -60.9 120.8 - 168.3% 525.8 117.7 -
Comprehensive income 981.9 847.3 1,598.9 512.1 -583.6 15.9% - 3,940.2 -3,879.4 .
Attributable to owners of the parent company 981.1 846.8 1,597.7 511.7 -582.9 15.9% - 3,937.4 -3,875.8 -
Attributable to non-controlling interests 0.8 0.5 1.1 0.4 -0.6 76.0% - 2.8 -3.6 -
ROAE 7.4% 11.0% 14.4% 7.5% -9.6% 9.9% -12.6%
ROAA 1.0% 1.4% 2.0% 1.0% -1.3% 1.3% -1.5%
Income Statement - Non-restated Figures % Change
(In millions of Argentine Ps.) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY FY20 FY19 YoY
Argentine Banking GAAP:
Interest income 15,346.3 14,704.1 12,672.8 12,712.3 11,009.3 4.4% 39.4% 55,435.4 36,729.5 50.9%
Interest expenses (7,892.4) (6,306.3) (4,563.5) (5,872.3) (6,597.0) 25.2% 19.6% (24,634.5) (28,204.5) -12.7%
Net interest income 7,453.9 8,397.7 8,109.2 6,840.0 4,412.3 -11.2% 68.9% 30,800.9 8,525.0 261.3%
Net income from financial instruments at fair value through profit or loss 1,527.1 1,039.3 648.0 306.8 2,788.5 46.9% -45.2% 600.9 16,653.8 -96.4%
Exchange rate differences on gold and foreign currency 285.2 251.5 293.9 90.6 457.1 13.4% -37.6% 921.2 (204.9) -549.6%
NIFFI & Exchange Rate Differences 1,812.3 1,290.8 941.8 397.4 3,245.5 40.4% -44.2% 1,522.1 16,448.9 -90.7%
Net Financial Income 9,266.2 9,688.6 9,051.1 7,237.5 7,657.8 -4.4% 21.0% 32,323.0 24,973.9 29.4%
Fee income 2,739.2 2,482.1 2,230.2 2,345.1 1,898.7 10.4% 44.3% 9,796.5 7,016.6 39.6%
Fee expenses (962.5) (796.8) (646.9) (652.6) (550.1) 20.8% 75.0% (3,058.8) (1,850.0) 65.3%
Income from insurance activities 777.8 293.9 355.4 289.6 266.8 164.7% 191.5% 1,716.7 946.1 81.4%
Net Service Fee Income 2,554.5 1,979.2 1,938.6 1,982.1 1,615.5 29.1% 58.1% 8,454.3 6,112.7 38.3%
Other operating income 2,402.3 892.3 843.9 795.7 875.5 169.2% 174.4% 4,934.3 2,652.3 86.0%
Loan loss provisions (974.8) (2,650.7) (2,205.3) (1,541.8) (1,368.1) -63.2% -28.7% (7,372.7) (6,479.3) 13.8%
Net Operating Income 13,248.2 9,909.4 9,628.3 8,473.4 8,780.7 33.7% 50.9% 38,338.9 27,259.7 40.6%
Personnel expenses 4,393.0 4,048.0 3,647.3 3,459.1 3,821.9 8.5% 14.9% 15,547.4 11,707.9 32.8%
Administrative expenses 2,702.3 2,175.1 2,236.6 1,772.0 1,868.4 24.2% 44.6% 8,886.0 6,241.4 42.4%
Depreciation & Amortization 388.9 329.1 290.8 257.3 253.8 18.1% 53.2% 1,266.2 894.2 41.6%
Turnover Tax 958.0 868.4 804.1 845.3 895.3 10.3% 7.0% 3,475.7 3,068.3 13.3%
Other expenses 586.1 526.1 657.4 359.3 911.4 11.4% -35.7% 2,129.0 2,119.9 0.4%
Operating income 4,219.9 1,962.6 1,992.0 1,780.4 1,029.8 115.0% 309.8% 7,034.6 3,228.0 -
Profit before income tax 4,219.9 1,962.6 1,992.0 1,780.4 1,029.8 115.0% 309.8% 9,954.9 3,228.0 208.4%
Profit from continuing operations 4,219.9 1,962.6 1,992.0 1,780.4 1,029.8 115.0% 309.8% 9,954.9 3,228.0 208.4%
Income tax expense 270.0 30.3 67.4 313.5 (437.5) 790.4% - 681.1 (1,033.4) -165.9%
Net income 3,949.9 1,932.3 1,924.6 1,466.9 1,467.3 104.4% 169.2% 9,273.8 4,261.4 117.6%
Attributable to owners of the parent company 3,946.6 1,930.3 1,923.5 1,465.7 1,466.2 104.5% 169.2% 9,266.0 4,257.9 117.6%
Attributable to non-controlling interests 3.3 1.6 1.7 1.2 1.1 108.3% 199.7% 7.8 3.5 125.2%
Other comprehensive income, net of tax 1,188.0 293.9 (48.5) (48.5) 104.2 304.3% 1040.5% 1,188.2 569.6 108.6%
Comprehensive income 5,137.9 2,226.2 1,876.1 1,418.4 1,571.5 130.8% 226.9% 10,658.6 4,831.0 120.6%
Attributable to owners of the parent company 5,133.4 2,223.8 1,875.0 1,417.2 1,570.3 130.8% 226.9% 10,649.4 4,827.1 120.6%
Attributable to non-controlling interests 4.5 1.9 1.6 1.2 1.2 134.8% 282.8% 9.2 3.9 134.5%
ROAE 53.8% 29.9% 32.4% 26.4% 28.4% 34.2% 22.6%
ROAA 6.6% 3.4% 3.7% 3.5% 3.7% 4.1% 2.7%
Balance Sheet
Consolidated Balance Sheet Data dec 20 sep 20 jun 20 mar 20 dec 19
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period)
Assets
Cash and due from banks 36,674.9 31,138.3 37,998.2 45,146.2 35,945.3
Secuities at fair value through profit or loss 9,871.9 4,956.7 4,324.1 615.2 774.0
Derivatives 143.9 124.8 79.1 181.1 350.7
Repo transactions 22,354.7 24,558.6 5,553.0 100.0 - 0
Other financial assets 4,284.3 7,386.8 3,658.5 3,423.7 2,854.7
Loans and other financings 105,975.0 109,313.2 114,708.9 112,125.6 121,028.7
Other securities 41,264.1 56,923.6 77,242.8 58,923.3 14,528.3
Financial assets in guarantee 4,904.9 5,751.1 5,695.2 7,353.2 7,261.3
Current Income tax assets - 0 - 0 - 0 59.7 139.5
Investments in equity instruments 116.3 97.5 52.7 11.1 19.8
Investments in subsidiaries, associates and joint ventures - 0 - 0 - 0 - 0 - 0
Property, plant and equipment 7,103.6 6,066.6 6,306.2 5,947.3 5,448.5
Property investments 5,997.9 4,771.6 4,775.9 4,779.5 5,520.1
Intangible Assets 6,782.5 6,074.7 5,928.0 5,839.7 5,952.8
Deferred tax assets 3,020.8 3,043.3 2,591.0 1,667.2 1,781.7
Other non-financial assets 1,423.8 2,734.6 2,605.3 2,585.5 1,822.7
Total assets 249,918.9 262,941.4 271,518.8 248,758.2 203,428.0
Liabilities and shareholders' equity
Deposits: 178,641.6 189,544.5 194,789.4 174,291.0 121,176.3
Non‑financial public sector 7,911.3 9,033.1 6,150.4 7,032.1 7,447.1
Financial sector 57.4 15.1 22.4 21.2 38.3
Non‑financial private sector and foreign residents 170,672.9 180,496.3 188,616.7 167,237.6 113,690.9
Liabilities at a fair value through profit or loss 2,002.0 210.5 135.5 461.9 258.1
Derivatives 2.0 - 0 - 0 - 0 - 0
Repo transactions - 0 - 0 772.0 340.9 435.4
Other financial liabilities 7,529.7 9,302.1 7,926.2 9,693.1 12,411.4
Financing received from Central Bank and others 5,851.4 8,513.9 9,583.7 10,620.6 12,276.6
Medium Term Notes 4,226.7 4,712.4 7,050.4 5,193.3 8,286.2
Current Income tax liabilities 1,288.3 1,231.3 817.5 - 0 - 0
Subordinated Loan and Negotiable Obligations 1,140.5 1,169.5 2,983.9 2,414.0 2,886.0
Provisions 681.1 833.9 873.7 689.3 921.7
Deferred tax liabilities 42.0 183.4 370.3 632.7 643.4
Other non-financial liabilities 12,146.1 11,843.9 11,667.4 10,951.9 11,175.7
Total liabilities 213,551.4 227,545.3 236,970.0 215,288.7 170,470.6
Attributable Shareholders' equity 36,338.5 35,367.9 34,521.1 33,442.9 32,931.2
Non Controlling Interest 29.0 28.2 27.8 26.6 26.2
Total liabilities and shareholders' equity 249,918.9 262,941.4 271,518.8 248,758.2 203,428.0
Consolidated Balance Sheet Data - Non Restated Figures dec 20 sep 20 jun 20 mar 20 dec 19
(In millions of Argentine Ps.)
Assets
Cash and due from banks 36,606.2 27,970.1 31,705.0 35,753.0 26,403.1
Securities at fair value through profit or loss 10,015.7 4,452.4 3,607.9 487.1 568.5
Derivatives 141.9 112.1 66.0 143.4 257.6
Repo transactions 22,354.7 22,059.9 4,633.4 79.1 - 0
Other financial assets 4,143.1 6,637.2 2,952.3 2,749.5 2,092.8
Loans and other financings 105,975.0 98,191.1 95,711.1 88,759.0 88,922.2
Other securities 41,264.2 51,131.9 64,539.4 46,657.0 10,671.6
Financial assets in guarantee 4,904.9 5,165.9 4,752.0 5,822.5 5,333.7
Current Income tax assets - 0 - 0 - 0 46.1 120.7
Investments in equity instruments 116.3 87.6 44.0 8.8 14.6
Investments in subsidiaries, associates and joint ventures - 0 - 0 - 0 - 0 - 0
Property, plant and equipment 5,834.8 3,892.6 3,959.4 3,543.4 3,074.8
Property investments 5,971.1 3,784.5 3,784.5 3,784.5 3,877.6
Intangible Assets 3,408.6 2,593.4 2,392.3 2,275.0 2,308.4
Deferred tax assets 3,585.7 3,576.8 2,943.0 1,370.3 1,841.1
Other non-financial assets 1,046.9 1,500.5 1,310.9 1,200.8 1,006.5
Total assets 245,369.1 231,155.9 222,401.1 192,679.5 146,493.1
Liabilities and shareholders' equity
Deposits: 178,641.6 170,259.1 158,604.2 135,795.5 89,008.2
Non‑financial public sector 7,911.3 8,114.0 5,131.8 5,568.2 5,470.2
Financial sector 57.4 13.6 18.7 16.8 28.1
Non‑financial private sector and foreign residents 170,672.9 162,131.5 153,453.8 130,210.5 83,509.9
Liabilities at a fair value through profit or loss 2,002.0 189.1 113.0 365.7 189.6
Derivatives - 0 - 0 - 0 - 0 - 0
Repo transactions - 0 - 0 644.1 269.9 319.8
Other financial liabilities 7,461.0 8,355.7 10,538.2 9,871.9 9,171.2
Financing received from Central Bank and others 5,851.4 7,647.6 7,996.5 8,411.0 9,017.6
Medium Term Notes 4,226.7 4,232.9 5,878.3 4,112.2 6,086.5
Current Income tax liabilities 1,287.9 1,105.7 681.7 - 0 - 0
Subordinated Loan and Negotiable Obligations 1,140.5 1,050.5 2,489.7 1,911.5 2,119.9
Provisions 681.1 774.7 729.0 545.8 677.0
Deferred tax liabilities - 0 - 0 3.0 (37.0) 2.0
Other non-financial liabilities 12,146.1 10,747.9 9,825.5 8,729.0 8,202.7
Total liabilities 213,438.3 204,363.3 197,503.2 169,975.6 124,794.5
Attributable Shareholders' equity 31,903.4 26,770.0 24,876.9 22,685.2 21,680.0
Non Controlling Interest 27.3 22.6 21.0 18.6 18.6
Total liabilities and shareholders' equity 245,369.1 231,155.9 222,401.1 192,679.5 146,493.1
Net Financial Income
Interest Income % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Interest on/from:
- Cash and Due from banks 2.8 0.3 1.7 0.8 12.5 906.4% -77.5%
- Loans to the financial sector 0.8 20.5 30.1 3.6 107.4 -95.9% -99.2%
- Overdrafts 419.1 480.2 793.1 986.1 1,367.7 -12.7% -69.4%
- Promissory notes 2,355.0 1,753.0 1,204.8 1,670.8 1,845.1 34.3% 27.6%
- Mortgage loans 1,172.1 826.4 904.9 1,091.3 1,566.9 41.8% -25.2%
- Automobile and other secured loans 204.9 166.5 175.1 192.0 222.2 23.1% -7.8%
- Personal loans 3,444.8 3,442.1 3,577.5 3,709.2 3,983.0 0.1% -13.5%
- Corporate unsecured loans 651.5 1,147.6 1,426.6 1,998.8 2,557.6 -43.2% -74.5%
- Credit cards loans 851.6 1,056.6 683.3 1,227.2 1,418.9 -19.4% -40.0%
- Foreign trade loans & US loans 267.2 349.2 413.9 422.9 463.9 -23.5% -42.4%
- Leases 170.3 157.7 182.5 193.9 281.4 7.9% -39.5%
- Other (1) 6,764.5 7,151.0 5,905.5 4,998.8 1,917.6 -5.4% 252.8%
Total 16,304.5 16,551.0 15,299.0 16,495.4 15,744.1 -1.5% 3.6%
Interest Expenses % Change
4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Interest on:
- Checking and Savings Accounts -3.5 11.2 13.9 20.0 116.4 -131.6% -103.0%
- Special Checking Accounts 3,118.6 984.5 1,071.0 1,151.0 1,004.5 216.8% 210.5%
- Time Deposits 4,676.0 5,730.6 3,894.1 5,274.4 5,797.2 -18.4% -19.3%
- Other Liabilities from Financial Transactions 332.1 427.2 472.4 1,054.4 2,152.1 -22.3% -84.6%
- Financing from the Financial Sector 13.0 17.4 64.0 6.4 64.4 -25.3% -79.8%
- Subordinated Loans and Negotiable Obligations 19.9 39.8 32.9 49.4 36.4 -49.9% -45.3%
- Other 1.4 0.6 40.0 61.5 307.9 122.1% -99.5%
Total 8,157.5 7,211.3 5,588.3 7,617.1 9,478.9 13.1% -13.9%
NIFFI & Exchange rate differences on gold and foreign currency % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Income from:
- Government and corporate securities 835.1 1,111.9 757.0 295.9 2,301.5 -24.9% -63.7%
- Term Operations 90.7 27.3 12.9 49.3 112.7 232.2% -19.5%
- Securities issued by the Central Bank 32.3 49.6 13.9 39.8 1,611.8 -34.9% -98.0%
Subtotal 958.1 1,188.8 783.7 385.0 4,026.0 -19.4% -76.2%
Result from recognition of assets measured at amortized cost -67.0 188.3 65.1 14.7 0.0 -135.6% -
Exchange rate differences on gold and foreign currency 297.0 290.4 358.6 118.5 689.7 2.3% -56.9%
Total 1,188.1 1,667.5 1,207.4 518.2 4,715.7 -28.8% -74.8%
Net Financial Income % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Net Interest Income 8,147.1 9,339.7 9,710.7 8,878.3 6,265.2 -12.8% 30.0%
NIFFI & Exchange rate differences 1,188.1 1,667.5 1,207.4 518.2 4,715.7 -28.8% -74.8%
Net Financial Income 9,335.2 11,007.2 10,918.1 9,396.6 10,980.9 -15.2% -15.0%
Net Income from US$ / US$ linked denominated operations and Securities % Chg.
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ
Financial Income from US$ Operations 666.6 251.3 217.4 165.5 1,158.9 165.3%
NIFFI 345.4 250.6 152.9 121.4 1,158.9 37.8%
US$ Government Securities3 254.7 223.3 140.0 72.1 1,046.2 14.1%
Term Operations 90.7 27.3 12.9 49.3 112.7 232.2%
Interest Income 321.3 0.7 64.5 44.1 0.0 -
US$ / US$ linked Government Securities2 321.3 0.7 64.5 44.1 0.0 44802.2%
Exchange rate differences on gold and foreign currency 297.0 290.4 358.6 118.5 689.7 2.3%
Total Income from US$ Operations1 963.6 541.7 576.0 284.0 1,848.6 77.9%
NIM
NIM Analysis 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ (bps) YoY (bps)
Total NIM 19.5% 21.2% 23.5% 22.8% 29.0% (173) (953)
AR$ NIM 19.1% 22.2% 25.4% 26.5% 36.7% (310) (1,753)
US$ NIM 22.2% 12.9% 12.6% 5.7% 3.6% 925 1,853
Loan Portfolio 19.9% 20.8% 22.8% 23.8% 23.3% (86) (339)
AR$ NIM 22.5% 24.9% 28.2% 30.0% 30.4% (238) (791)
US$ NIM 5.6% 4.2% 4.6% 4.2% 3.9% 145 167
Investment Portfolio 18.6% 23.8% 25.6% 19.7% 48.6% (520) (3,002)
AR$ NIM 15.9% 23.1% 25.1% 19.9% 42.3% (723) (2,645)
US$ NIM 45.5% 81.4% 44.1% 15.9% 115.6% (3,595) (7,014)
Average Assets 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ (bps) YoY (bps)
Total Interest Earning Assets (IEA) 100.0% 100.0% 100.0% 100.0% 100.0%
AR$ (as % of IEA) 89.1% 88.8% 85.3% 82.3% 76.8% 23 1,227
US$ (as % of IEA) 10.9% 11.2% 14.7% 17.7% 23.2% (23) (1,227)
Loan Portfolio (as % of IEA) 55.0% 53.9% 59.8% 68.0% 80.1% 105 (2,517)
AR$ (as % of Loan Portfolio) 84.7% 80.2% 77.0% 76.2% 73.2% 451 1,152
US$ (as % of Loan Portfolio) 15.3% 19.8% 23.0% 23.8% 26.8% (451) (1,152)
Investment Portfolio (as % of IEA) 45.0% 46.1% 40.2% 32.0% 19.9% (105) 2,517
AR$ (as % of Investment Portfolio) 94.4% 98.8% 97.7% 95.3% 91.4% (434) 301
US$ (as % of Investment Portfolio) 5.6% 1.2% 2.3% 4.7% 8.6% 434 (301)
Average Liabilities 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ (bps) YoY (bps)
Total Interest Bearing Deposits & Low & Non-Interest Bearing Deposits 100.0% 100.0% 100.0% 100.0% 100.0%
AR$ 82.9% 80.7% 79.8% 74.6% 68.1% 221 1,475
US$ 17.1% 19.3% 20.2% 25.4% 31.9% (221) (1,475)
Total Interest‑Bearing Liabilities 67.9% 65.8% 63.8% 65.2% 61.5% 209 637
AR$ 83.4% 80.6% 79.2% 74.6% 67.4% 283 1,605
US$ 16.6% 19.4% 20.8% 25.4% 32.6% (283) (1,605)
Low & Non Interest Bearing Deposits 32.1% 34.2% 36.2% 34.8% 38.5% (209) (637)
AR$ 81.7% 80.8% 80.9% 74.7% 69.3% 91 1,239
US$ 18.3% 19.2% 19.1% 25.3% 30.7% (91) (1,239)
Interest Rates 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ (bps) YoY (bps)
Interest earned on Loans 36.2% 33.6% 33.9% 41.0% 45.5% 261 (930)
AR$ 41.3% 40.1% 41.8% 51.6% 59.8% 118 (1,847)
US$ 7.9% 7.1% 7.3% 7.2% 6.7% 79 117
Yield on Investment Porfolio 37.0% 39.1% 39.1% 39.4% 43.0% (207) (600)
AR$ 34.7% 38.4% 38.7% 41.5% 71.7% (367) (3,701)
US$ 59.5% 95.5% 53.6% -2.5% -261.4% (3,601) 32,088
Cost of Funds 16.8% 14.1% 11.7% 17.6% 21.5% 271 (468)
AR$ 20.0% 17.1% 14.2% 22.9% 30.7% 292 (1,070)
US$ 1.4% 1.7% 1.9% 2.0% 1.9% (29) (47)
Market Interest Rates 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ (bps) YoY (bps)
Monetary Policy Rate (eop) 38.0% 38.0% 38.0% 38.0% 55.0% - 0 (1,700)
Monetary Policy Rate (avg) 37.3% 38.0% 38.0% 45.6% 65.3% (74) (2,801)
Badlar Interest Rate (eop) 34.3% 29.7% 29.7% 27.6% 39.4% 460 (514)
Badlar Interest Rate (avg) 32.5% 29.6% 24.4% 33.2% 48.1% 290 (1,556)
TM20 (eop) 34.3% 29.3% 29.8% 27.0% 40.5% 501 (619)
TM20 (avg) 32.3% 29.3% 23.4% 33.8% 49.2% 300 (1,689)
Investment Portfolio
Securities Breakdown1
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) dec 20 sep 20 jun 20 mar 20 dec 19
Held for trading 8,965.8 4,302.6 4,153.2 615.2 774.0
Government Securities 8,467.8 3,891.2 3,722.9 234.9 642.7
Securities Issued by the Central Bank - 0 - 0 - 0 - 0 - 0
Corporate Securities 498.0 411.4 430.3 380.2 131.3
Held to maturity 5,945.3 7,116.0 6,492.5 6,338.3 4,765.5
Government Securities2 5,941.8 7,112.3 6,488.3 6,326.0 4,758.0
Securities Issued by the Central Bank - 0 - 0 - 0 - 0 - 0
Corporate Securities 3.6 3.7 4.2 12.3 7.5
Available for sale 36,341.2 50,559.2 70,973.9 52,596.1 9,782.7
Government Securities 7,534.0 1,608.5 1,826.2 459.6 - 0
Securities Issued by the Central Bank 28,787.2 48,940.8 69,137.2 52,125.4 9,762.8
Corporate Securities 20.0 10.0 10.4 11.1 19.8
Total 51,252.3 61,977.8 81,619.6 59,549.6 15,322.1
Securities Issued by the Central Bank in Guarantee (Held to maturity) - 0 - 0 5,345.4 - 0 - 0
AR$ Gov Sec, in Guarantee3 458.3 1,112.9 - 0 - 0 - 0
US$ Gov Sec, in Guarantee - 0 - 0 393.9 1,789.0 1,680.1
AR$ Gov Sec.in Time Deposits - 0 - 0 - 0 - 0 78.9
Total (incl. US$ Gov Sec. in Guarantee) 51,710.6 63,090.7 87,358.9 61,338.6 17,081.1
Investment Portfolio
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) dec 20 sep 20 jun 20 mar 20 dec 19
Securities Issued by the Central Bank 28,787.2 48,940.8 69,137.2 52,125.4 9,762.8
AR$ Leliq 28,787.2 48,940.8 69,137.2 52,125.4 9,762.8
Government Securities 21,943.6 12,611.9 12,037.5 7,020.5 5,400.7
AR$ 14,293.7 12,487.7 12,037.5 7,020.5 4,877.8
US$ Linked/US$ 7,649.9 124.3 - 0 0.0 522.9
Corporate Securities 521.6 425.1 444.9 403.7 158.6
AR$ 521.6 425.1 444.9 403.7 158.6
US$ - 0 - 0 - 0 - 0 - 0
Securities Issued by the Central Bank in Guarantee (Held to maturity) - 0 - 0 5,345.4 - 0 - 0
AR$ - 0 - 0 - 0 - 0 - 0
Gov Sec. in Guarantee 458.3 1,112.9 393.9 1,789.0 1,680.1
AR$ 458.3 1,112.9 - 0 - 0 - 0
US$ - 0 - 0 393.9 1,789.0 1,680.1
AR$ Gov Sec in Time Deposits (Held to maturity) - 0 - 0 - 0 - 0 78.9
AR$ - 0 - 0 - 0 - 0 79.0
Total 51,710.7 63,090.7 87,358.9 61,338.6 17,002.2
AR$ 43,602.5 61,853.6 86,965.0 61,338.6 15,052.9
US$ Linked/US$ 7,649.9 124.3 393.9 0.0 2,028.2
0.0 -0 -0 -0 - 78.9
Goverment Securities breakdown
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) dec 20 sep 20
Treasury Bonds 2020/2022 (Reserve Requirements) 5,837.6 7,070.4
Boncer 2,512.3 2,465.0
Boncer in Guarantee 458.3 1,112.9
Lecer 2,811.9 869.4
Treasury Bonds (Badlar) 1,280.1 882.8
U$S Linked Govt. Securities 7,649.9 - 0
Lebad - 0 41.9
Others 1,851.8 1,282.4
Total 22,401.9 13,724.8
Earning assets
Interest Earning Assets 4Q20 3Q20 2Q20 1Q20 4Q19
Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate
Investment Portfolio
Government and Corporate Securities 20,876.1 34.4% 16,682.8 50.2% 12,523.6 48.5% 9,674.5 25.1% 9,564.3 66.1%
Securities Issued by the Central Bank 30,979.3 38.8% 62,547.2 36.1% 52,871.0 36.8% 40,650.8 42.8% 20,157.0 32.0%
Total Investment Portfolio 51,855.3 37.0% 79,230.0 39.1% 65,394.6 39.1% 50,325.3 39.4% 29,721.3 43.0%
Loans
Loans to the Financial Sector 15.9 21.1% 207.5 39.5% 330.4 36.5% 304.8 4.8% 497.2 86.4%
Overdrafts 4,107.6 40.8% 6,235.9 30.8% 8,538.6 37.2% 7,485.2 52.7% 8,861.5 61.7%
Promissory Notes 17,275.5 54.5% 16,307.3 43.0% 12,068.2 39.9% 11,559.9 57.8% 11,094.6 66.5%
Mortgage loans 10,015.5 46.8% 10,396.8 31.8% 10,525.1 34.4% 10,732.6 40.7% 10,572.5 59.3%
Automobile and Other Secured Loans 1,690.0 48.5% 1,490.2 44.7% 1,437.7 48.7% 1,586.2 48.4% 1,861.2 47.7%
Personal & Business Banking Personal Loans 16,627.3 57.6% 16,940.2 61.9% 16,885.9 66.5% 18,610.4 63.7% 19,423.8 64.3%
Consumer Finance Personal Loans 3,323.1 126.6% 3,248.8 101.3% 3,680.6 83.5% 3,837.1 77.6% 4,706.6 73.2%
Corporate Unsecured Loans 18,419.3 14.1% 18,178.9 25.3% 16,563.1 34.5% 14,659.7 54.5% 15,466.5 66.1%
Retail Banking Credit Card Loans 13,604.6 17.4% 12,895.7 24.0% 11,617.7 15.9% 12,940.2 29.0% 12,589.5 34.6%
Consumer Finance Credit Card Loans 3,039.4 34.2% 2,767.9 40.7% 2,774.6 31.9% 3,033.6 38.3% 3,346.7 39.5%
Receivables from Financial Leases 3,193.9 21.3% 3,494.6 18.1% 3,711.5 19.7% 4,041.1 19.2% 4,880.5 23.1%
Total Loans excl. Foreign trade and US$ loans1 91,312.1 40.6% 92,163.7 39.3% 88,133.3 40.7% 88,790.7 49.9% 93,300.7 57.2%
Foreign Trade Loans & US$ loans 14,075.4 7.6% 19,784.5 7.1% 22,805.6 7.3% 23,255.0 7.3% 28,053.1 6.6%
Total Loans 105,387.4 36.2% 111,948.2 33.6% 110,938.9 33.9% 112,045.8 41.0% 121,353.8 45.5%
Securities Issued by the Central Bank in Repo Transaction 34,462.2 33.8% 16,441.5 19.2% 9,166.7 16.8% 2,393.1 43.8% 336.9 67.0%
Total Interest‑Earning Assets 191,705.0 36.0% 207,619.8 34.5% 185,500.1 34.9% 164,764.2 40.6% 151,412.0 45.1%
Bearing Liabilities
Interest-Bearing Liabilities & Low & Non-Interest -Bearing Deposits 4Q20 3Q20 2Q20 1Q20 4Q19
Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate
Time Deposits 63,993.3 29.2% 90,163.2 25.4% 62,417.3 25.0% 62,053.4 34.0% 48,593.3 47.7%
AR$ Time Deposits 59,597.1 31.3% 84,543.3 27.0% 56,733.2 27.3% 56,531.8 37.2% 43,777.3 52.8%
FX Time Deposits 4,396.3 0.9% 5,619.9 1.4% 5,684.0 1.7% 5,521.6 1.7% 4,816.0 1.8%
Special Checking Accounts 54,440.3 22.9% 27,357.2 14.4% 41,061.1 10.4% 28,742.7 16.0% 22,800.3 17.6%
AR$ Special Checking Accounts 47,180.1 26.4% 19,322.9 20.3% 32,861.6 13.0% 18,439.1 24.8% 10,016.8 39.6%
FX Special Checking Accounts 7,260.2 0.2% 8,034.3 0.3% 8,199.5 0.3% 10,303.6 0.3% 12,783.6 0.4%
Borrowings from Other Fin. Inst. & Medium Term Notes 12,102.1 11.4% 15,020.9 11.8% 14,789.3 14.5% 18,542.0 22.9% 26,022.4 34.1%
Subordinated Loans and Negotiable Obligations 1,133.5 7.0% 1,948.9 8.2% 2,701.6 4.9% 2,726.4 7.2% 3,016.4 4.8%
Total Interest‑Bearing Liabilities 131,669.2 24.8% 134,490.1 21.4% 120,969.3 18.3% 112,064.4 26.9% 100,432.5 36.1%
Low & Non-Interest-Bearing Deposits
Savings Accounts 37,870.1 -0.0% 41,875.9 0.1% 39,202.9 0.1% 34,944.3 0.2% 35,507.9 -3.1%
AR$ Savings Accounts 27,867.5 -0.1% 29,932.9 0.1% 27,729.9 0.2% 22,670.6 0.3% 21,887.0 -5.0%
FX Savings Accounts 10,002.6 11,943.0 0.0% 11,473.1 12,273.7 13,620.9
Checking Accounts 24,407.6 28,038.6 29,570.9 24,870.8 27,322.3
AR$ Checking Accounts 23,033.2 26,574.7 27,890.8 22,000.9 21,681.5
FX Checking Accounts 1,374.5 1,463.9 1,680.1 2,869.8 5,640.9
Total Low & Non-Interest-Bearing Deposits 62,277.7 0.0% 69,914.5 0.0% 68,773.9 0.0% 59,815.0 0.0% 62,830.2 0.0%
Total Interest‑Bearing Liabilities & Low & Non-Interest-Bearing Deposits 193,947.0 16.8% 204,404.6 14.1% 189,743.1 11.7% 171,879.5 17.6% 163,262.7 21.5%
AR$ 160,751.0 20.0% 164,907.4 17.1% 151,394.2 14.2% 128,290.0 22.9% 111,242.5 30.7%
FX 33,196.0 1.4% 39,497.2 1.7% 38,349.0 1.9% 43,589.4 2.0% 52,020.2 1.9%
AR$ Liabilities. Avg. Balance 4Q20 3Q20 4Q19
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate
Interest‑Bearing Liabilities
Time Deposits 59,597.1 31.3% 84,543.3 27.0% 43,777.3 52.8%
Special Checking Accounts 47,180.1 26.4% 19,322.9 20.3% 10,016.8 39.6%
Borrowings from Other Fin. Inst. & Medium Term Notes 3,073.2 33.9% 4,533.7 30.1% 13,879.9 59.0%
Subordinated Loans and Negotiable Obligations
Total Interest‑Bearing Liabilities 109,850.3 29.3% 108,399.9 25.9% 67,674.0 52.1%
Low & Non-Interest-Bearing Deposits
Savings Accounts 27,867.5 29,932.9 21,887.0
Checking Accounts 23,033.2 26,574.7 21,681.5
Total Low & Non-Interest Bearing Deposits 50,900.6 56,507.5 43,568.5
Total Interest‑Bearing Liabilities & Low & Non-Interest Bearing Deposits 160,751.0 20.0% 164,907.4 17.1% 111,242.5 30.7%
US$ Liabilities. Average Balance 4Q20 3Q20 4Q19
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate
Interest‑Bearing Liabilities
Time Deposits 4,396.3 0.9% 5619.9380588229 1.4% 4816.043 1.8%
Special Checking Accounts 7,260.2 0.2% 8034.285506162 0.3% 12783.562 0.4%
Borrowings from Other Fin. Inst. & Medium Term Notes 9,028.9 3.7% 10487.1299291339 4.0% 12142.454 5.6%
Subordinated Loans and Negotiable Obligations 1,133.5 7.0% 1948.8594574037 8.2% 3016.42 4.8%
Total Interest‑Bearing Liabilities 21,818.9 2.2% 26,090.2 2.6% 32,758.5 2.9%
Low & Non-Interest Bearing Deposits
Savings Accounts 10,002.6 11943.0282479345 13620.859
Checking Accounts 1,374.5 1463.9438467561 5640.86
Total Low & Non-Interest Bearing Deposits 11,377.1 13,407.0 19,261.7
Total Interest‑Bearing Liabilities & Low & Non-Interest Bearing Deposits 33,196.0 1.4% 39,497.2 1.7% 52,020.2 1.9%
Result from exposure to Infl
Result from exposure to changes in the purchasing power of the currency % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Result from exposure to changes in the purchasing power of the currency 3,176.2 3,928.8 2,028.8 -1,097.9 -1,613.6 -19.2% -
LELIQ Result from exposure to changes in the purchasing power of the currency -4,267.6 -4,874.0 -2,690.4 0.0 0.0 -12.4% -
Total -1,091.4 -945.2 -661.6 -1,097.9 -1,613.6 15.5% -32.4%
Assets & Liabilities avg life
ASSETS dec 20 sep 20 jun 20 mar 20 dec 19
AR$ Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets
Total AR$ Assets 192 153 140 134 167
Cash 1 2% 1 0% 1 1% 1 3
Cash (without interest rate risk) 6% 6% 8% 16% 16%
Government & Corporate Securities 182 21% 129 29% 72 38% 39 31% 104 11%
Total AR$ Loans 280 240 38% 237 37% 215 40% 184 59%
Promissory Notes 86 8% 115 8% 145 7% 30 6% 50 9%
Corporate Unsecured Loans 286 6% 143 5% 157 5% 140 6% 100 10%
Mortgage 120 5% 30 5% 30 5% 30 6% 30 8%
Personal Loans 665 10% 608 9% 578 9% 538 11% 475 15%
Auto Loans 412 1% 367 1% 360 1% 367 1% 245 1%
Credit Cards 97 9% 98 8% 255 2% 121 8% 110 12%
Overdraft 19 1% 20 2% 98 7% 19 4% 18 5%
Other Loans 93 2% 84 2% 50 3% 75 2% 58 2%
Receivable From Financial Leases 348 1% 345 1% 369 1% 379 1% 371 1%
Other Assets (without interest rate risk) 12% 9% 9% 12% 9%
US$ Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets
Total US$ Assets 536 339 310 261 278
Cash 1 12% 1 12% 1 13% 1 15% 3 16%
Cash (without interest rate risk) 35% 0 31% 27% 20% 21%
Government & Corporate Securities 1,132 16% 7,559 1% 1% 1 0% 28 1%
Total US$ Loans 489 28% 339 42% 268 48% 322 51% 343 50%
Receivable From Financial Leases 514 4% 548 5% 544 4% 583 5% 599 5%
Other Assets (without interest rate risk) 1% 2% 2% 6% 5%
LIABILITIES
AR$ Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities
Total AR$ Liabilities 16 55 53 35 67
Deposits 12 89% 53 87% 51 87% 29 86% 42 78%
Private Sector Deposits 12 85% 55 83% 52 85% 29 83% 42 74%
Checking Accounts (without interest rate risk) 31% 29% 34% 34% 43%
Special Checking Accounts 1 29% 1 12% 1 15% 1 13% 2 1%
Time Deposits 23 25% 32 23% 35 22% 27 29% 31 25%
Pre Cabcelable Time Deposit 134 0% 114 19% 132 14% 93 7%
Public Sector Deposits 25 4% 27 4% 17 2% 34 3% 42 4%
Other Sources of funding 44 1% 74 5% 88 4% 90 6% 187 9%
Other Liabilities (without interest rate risk) 6% 5% 5% 5% 6%
US$ Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities
Total U$S Liabilities 77 97 70 66 75
Deposits 15 63% 20 63% 20 60% 20 66% 13 67%
Private Sector Deposits 15 63% 20 61% 20 57% 20 62% 13 61%
Checking Accounts (without interest rate risk) 31% 0 29% 0 27% 27% 29%
Special Checking Accounts 1 20% 1 18% 1 18% 1 22% 3 23%
Time Deposits 38 12% 43 14% 51 12% 53 13% 38 9%
Public Sector Deposits 2% 2% 34 3% 66 4% 22 6%
Other Sources of funding 2% 3% 27% 2% 2%
Subordinated Negotiable Obligations 323 3% 414 3% 221 7% 313 5% 404 6%
Net Fee Income
Net Service Fee Income % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Income from:
Deposit Accounts 1,001.8 1,115.2 1,194.9 1,315.5 1,122.8 -10.2% -10.8%
Loan Related 19.1 25.1 37.3 83.4 69.5 -23.8% -72.5%
Credit cards commissions 893.9 824.9 696.7 997.9 1,020.0 8.4% -12.4%
Leasing commissions 57.6 39.3 33.2 26.7 32.8 46.5% 75.5%
Other1 895.9 840.0 779.1 616.3 547.8 6.7% 63.5%
Total Fee Income 2,868.4 2,844.5 2,741.2 3,039.8 2,792.9 0.8% 2.7%
Expenses:
Commissions paid 970.4 880.1 782.2 836.8 816.4 10.3% 18.9%
Exports and foreign currency transactions 32.6 26.8 10.5 8.6 9.8 21.6% 231.9%
Total Fee Expenses 1,002.9 906.8 792.7 845.4 826.2 10.6% 21.4%
Net Services Fee Income 1,865.4 1,937.7 1,948.4 2,194.4 1,966.7 -3.7% -5.2%
Expenses
Personnel, Administrative Expenses & D&A % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Personnel Expenses 4,564.4 4,638.9 4,466.1 4,498.4 5,509.2 -1.6% -17.1%
Administrative expenses 2,794.6 2,485.3 2,735.9 2,296.7 2,779.9 12.4% 0.5%
Directors' and Statutory Auditors' Fees 93.4 85.5 114.2 48.3 88.6 9.2% 5.5%
Other Professional Fees 368.3 249.4 431.0 245.4 353.0 47.7% 4.3%
Advertising and Publicity 209.2 185.7 149.2 144.6 175.5 12.6% 19.2%
Taxes 508.3 469.3 418.1 461.6 577.9 8.3% -12.0%
Third Parties Services 458.2 468.9 449.9 372.1 485.9 -2.3% -5.7%
Other 1,157.2 1,026.5 1,173.5 1,024.6 1,099.0 12.7% 5.3%
Total Personnel & Administrative Expenses ("P&A") 7,359.1 7,124.2 7,202.0 6,795.0 8,289.1 3.3% -11.2%
D&A 635.0 610.7 590.7 570.7 1,010.5 4.0% -37.2%
Total P&A and D&A 7,994.1 7,734.9 7,792.7 7,365.8 9,299.5 3.4% -14.0%
Total Employees1 4,943 5,005 4,976 4,960 5,019 -1.2% -1.5%
Bank Branches 198 198 198 198 198 0.0% 0.0%
Other Acces Points 104 104 104 118 118 0% -11.9%
Efficiency Ratio 72.8% 61.2% 62.1% 64.5% 79.9%
Other Income, Net % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 2Q20 1Q20 4Q19 QoQ YoY
Other Operating Income 806.8 1,001.5 1,043.3 1,034.5 994.4 -19.4% -18.9%
Other Expenses 624.5 669.7 809.8 517.9 1,498.6 -6.7% -58.3%
Subtotal 182.3 331.9 233.5 516.6 -504.2 -45.1% -
Turnover tax 965.1 958.6 977.3 1,049.5 1,162.4 0.7% -17.0%
Total -782.8 (626.7) (743.8) (533.0) (1,666.6) 24.9% -53.0%
Results excluding CFL
4Q20 3Q20 2Q20 1Q20
GS IUDÚ GS excl. IUDÚ GS IUDÚ GS excl. IUDÚ GS IUDÚ GS excl. IUDÚ GS IUDÚ GS excl. IUDÚ
Net Financial Income /Average Assets** 14.9% 30.3% 14.2% 16.4% 34.9% 15.7% 17.4% 32.1% 16.8% 15.7% 24.4% 15.3%
LLP / Avg. Assets** 1.6% 8.0% 1.3% 4.5% 12.6% 4.2% 4.3% 12.4% 4.0% 3.3% 8.5% 3.1%
ROA** 1.0% -9.0% 1.5% 1.4% -8.3% 1.8% 2.0% -5.8% 2.3% 1.0% -9.0% 1.5%
ROE** 7.4% -30.2% 11.0% 11.0% -24.2% 14.7% 14.4% -16.4% 17.9% 7.7% -29.6% 13.0%
Assets / Shareholders´equity 7.1 3.4 7.4 7.7 2.9 8.2 7.3 2.8 7.9 8.0 3.3 8.7
Assets
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period)
Assets Evolution % Change
dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Cash and due from banks 36,674.9 31,138.3 37,998.2 45,146.2 35,945.3 17.8% 2.0%
Securities Issued by the Central Bank 28,787.2 48,940.8 69,137.2 52,125.4 9,762.8 -41.2% 194.9%
Government Securities 21,943.6 12,611.9 12,037.5 7,020.5 5,400.7 74.0% 306.3%
Loans & Leasing 110,364.4 114,430.2 120,185.4 116,478.8 125,460.2 -3.6% -12.0%
Repo transactions with Central Bank 22,354.7 24,558.6 5,553.0 100.0 0.0 -9.0% na
Property, Plant & Equipments 7,103.6 6,066.6 6,306.2 5,947.3 5,448.5 17.1% 30.4%
Other & Intangible1 22,690.5 25,195.0 20,301.3 21,940.0 21,410.5 -9.9% 6.0%
Total Assets 249,918.9 262,941.4 271,518.8 248,758.2 203,428.0 -5.0% 22.9%
Loans
Loan & Financial Leases Portfolio % Change
dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
To the non‑financial public sector 23.5 130.2 240.3 77.3 39.3 -81.9% -40.1%
To the financial sector 12.1 19.7 358.4 107.4 104.3 -38.8% -88.4%
To the non‑financial private sector and foreign residents (before allowances): 107,184.7 110,868.5 115,889.4 112,326.4 120,866.6 -3.3% -11.3%
Overdrafts 2,426.6 3,702.4 6,247.9 6,931.2 7,355.8 -34.5% -67.0%
Promissory notes 35,106.5 34,885.9 33,255.4 24,207.9 29,658.7 0.6% 18.4%
Mortgage loans 10,359.1 10,321.8 10,751.1 10,769.7 10,749.5 0.4% -3.6%
Automobile and other secured loans 1,819.9 1,632.4 1,498.3 1,552.7 1,657.4 11.5% 9.8%
Personal loans 20,011.5 20,458.7 20,499.9 22,112.4 22,967.6 -2.2% -12.9%
Credit card loans 19,367.0 17,150.0 16,492.6 16,230.1 17,810.4 12.9% 8.7%
Foreign trade loans & US$ loans 12,688.0 17,001.6 21,198.8 23,740.6 24,710.5 -25.4% -48.7%
Others 5,406.1 5,715.8 5,945.4 6,781.8 5,956.7 -5.4% -9.2%
Less: allowances for loan losses -7,487.5 -8,777.4 -9,017.1 -7,331.4 -7,768.1 -14.7% -3.6%
Total Loans, net 99,732.8 102,241.1 107,471.0 105,179.7 113,242.0 -2.5% -11.9%
Receivables from financial leases 2,987.2 3,278.4 3,588.4 3,865.1 4,439.5 -8.9% -32.7%
Accrued interest and adjustments 156.8 133.3 108.9 102.7 10.6 17.6% 1379.5%
Less: allowances -253.0 -393.0 -218.5 -317.0 -111.7 -35.6% 126.5%
Total Loan & Financial Leases, net 102,623.9 105,259.8 110,949.8 108,830.4 117,580.4 -2.5% -12.7%
Total Loan & Financial Leases (before allowances) 110,364.4 114,430.2 120,185.4 116,478.8 125,460.2 -3.6% -12.0%
Loans by currency % Change
dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
AR$ Loans (in AR$) 95,146.9 94,717.3 95,859.1 89,657.2 96,257.0 0.5% -1.2%
Foreign Currency Loans (in US$) 180.8 232.5 288.1 329.4 358.1 -22.2% -49.5%
Risk Mg
Loan portfolio atomization
4Q20 3Q20 2Q20 1Q20 4Q19
%Top10 17% 18% 18% 16% 16%
%Top50 30% 33% 35% 33% 32%
%Top100 36% 38% 42% 39% 40%
Loan portfolio collateral
Entrepreneurs & Small Businesses SMEs & Middel Market Large Total
Collateralized Portfolio 50% 45% 42% 43%
Unsecured Portfolio 50% 55% 58% 57%
Asset quality
Asset Quality % Change
(In millions of Argentine Ps.) dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Commercial Portfolio 39,755.9 44,925.6 51,016.2 49,986.4 55,866.9 -11.5% -28.8%
Non-Performing 2,654.3 2,607.5 4,621.4 4,783.2 5,065.6 1.8% -47.6%
Consumer Lending Portfolio1 71,250.8 68,901.7 66,024.1 62,344.0 64,152.6 3.4% 11.1%
Non-Performing 1,551.3 2,714.6 2,954.8 3,234.1 4,511.1 -42.9% -65.6%
Total Performing Portfolio2 111,006.7 113,827.3 117,040.4 112,330.3 120,019.5 -2.5% -7.5%
Total Non-Performing 4,205.6 5,322.2 7,576.3 8,017.2 9,576.7 -21.0% -56.1%
Total Non-Performing / Total Portfolio 3.7% 4.5% 6.1% 6.7% 7.4%
Total Allowances 8,052.0 9,651.2 9,628.6 7,986.0 7,952.2 -16.6% 1.3%
Coverage Ratio 191.5% 181.3% 127.1% 99.6% 83.0%
Write-Off (in the quarter) 2,610.6 3,009.2 1,073.3 1,962.3 1,864.6 -13.2% 40.0%
NPL Ratio and Delinquency by Product & Segment dec 20 sep 20 jun 20 mar 20 dec 19
Corporate Segment NPL 6.7% 6.1% 9.2% 9.8% 9.2%
Personal and Business Segment NPL 1.8% 3.4% 3.5% 3.6% 3.8%
Personal Loans NPL 0.3% 3.2% 2.6% 2.1% 4.2%
Credit Card Loans NPL 0.7% 2.2% 1.9% 2.5% 3.8%
Mortgages NPL 4.7% 1.6% 1.5% 1.0% 1.3%
SMEs NPL1 7.8% 9.3% 9.9% 11.1% 6.9%
Consumer Finance Segment NPL 4.7% 5.5% 9.6% 10.0% 17.2%
Personal Loans NPL 6.1% 7.8% 9.6% 10.2% 25.1%
Credit Card Loans NPL 4.0% 3.5% 11.5% 13.1% 12.3%
Car Loans NPL 4.7% 7.8% 11.5% 10.8% 15.9%
Total NPL 3.7% 4.5% 6.1% 6.7% 7.4%
% Change
Loan Loss Provisions, net 4Q20 3Q20 2Q20 1Q20 QoQ
Corporate -654.9 1,753.5 1,529.6 635.0 -137.3%
LLP - 605.0 1,725.7 1,476.1 743.8 -135.1%
Other LLP - 49.9 27.8 53.5 - 108.8 -279.3%
Personal and Business 1,061.4 975.7 1,080.5 760.7 8.8%
LLP 1,380.6 997.0 971.6 977.9 38.5%
Other LLP - 319.2 - 21.4 109.0 - 217.2 1393.3%
Consumer Finance 179.3 273.2 289.5 229.6 -34.4%
LLP 208.4 307.1 313.5 254.0 -32.1%
Other LLP - 29.1 - 33.9 - 24.0 - 24.3 -14.2%
Other 28.5 0.0 -44.3 15.8 na
LLP 27.4 2.0 - 45.3 20.5 na
Other LLP 1.1 - 2.0 1.0 - 4.7 na
Deferral of Credit Cards balances AR$ million
As of December
Individuals 1,205
Commercial Loans - 0
Consumer Finance 600
Total 1,805
Deferral of Loan Installments As of December
% of total loans subject to deferral
Individuals 12%
Commercial Loans 15%
Consumer Finance 39%
Total 15%
Total amount rescheduled AR$10.4 bn
Allowances for Loan losse
Analysis of the Allowance for Loan Losses Lifetime ECL
Balance at the beginning of the period 12-month ECL Financial assets with significant increase in credit risk Credit-impaired financial assets Simplified approach (*) Result from exposure to changes in the purchasing power of the currency in Allowances Balance at the end of the period
Repo transactions - 0 - 0 - 0 - 0 - 0 - 0 - 0
Other Financial Assets 336.8 - 1.3 - 0 173.0 - 0 - 135.0 373.5
Loans and Other Financings - 0 - 0 - 0 - 0 - 0 - 0 - 0
Other Financial Entities 16.4 29.4 - 0 1.0 - 0 - 12.4 34.4
Non Financial Private Sector 7,624.6 154.6 1,408.6 932.1 - 0 - 2,710.2 7,409.7
Overdraft 2,008.5 - 94.7 21.9 - 1,141.6 - 0 - 210.8 583.3
Unsecured Corporate Loans 495.4 6.6 287.3 - 24.6 - 0 - 203.0 561.7
Mortgage Loans 628.0 - 2.4 98.6 - 333.2 - 0 - 103.8 287.2
Automobile and other secured loans 132.6 5.4 6.8 90.2 - 0 - 62.4 172.7
Personal Loans 1,125.0 89.3 93.2 50.5 - 0 - 360.5 997.5
Credit Crads 736.7 66.1 477.8 - 44.3 - 0 - 328.2 908.1
Receivables from financial leases 189.1 55.1 - 9.4 - 23.5 - 0 - 56.1 155.2
Other 2,309.2 29.2 432.4 2,358.6 - 0 - 1,385.3 3,744.0
Other Securities 4.8 - 0.0 - 0 - 0 - 0 - 1.3 3.6
Other non-financial Assets - 0 - 0 - 0 - 0 - 0 - 0 - 0
Total Allowances 7,982.7 182.7 1,408.6 1,106.1 - 0 - 2,858.9 7,821.2
Exposure to UVA CER
4Q20 3Q20
Assets exposed to CER/UVA
Loans 11,056.3 13,381.5
Mortgage Loans 9,970.6 9,896.5
Car Loans 360.7 409.4
Personal Loans 23.0 28.5
Other Loans 586.7 2,919.0
Interest 115.3 128.0
Securities 5,782.5 4,447.2
BONCER/LECER 5,782.5 4,447.2
Total Assets 16,838.8 17,828.7
Liabilities exposed to CER/UVA
Deposits 270.4 413.9
Savings accounts on Construction industry unemployment fund 156.0 138.2
Interest 0.3 1.4
Total Liabilities 426.7 553.5
Total Exposure to CER/UVA, net 16,412.1 17,275.2
Funding
Funding & Other Liabilities % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Deposits
Non‑Financial Public Sector 7,911.3 9,033.1 6,150.4 7,032.1 7,447.1 -12.4% 6.2%
Financial Sector 57.4 15.1 22.4 21.2 38.3
Non‑Financial Private Sector and Foreign Residents
Checking Accounts 16,891.0 17,878.4 22,575.1 18,242.3 16,499.7 -5.5% 2.4%
Savings Accounts 43,414.1 42,511.1 48,488.8 46,920.3 40,009.4 2.1% 8.5%
Time Deposits 46,113.1 49,014.3 46,691.7 51,190.0 32,483.5 -5.9% 42.0%
Wholesale Funding 64,254.7 71,092.5 70,861.1 50,885.1 24,698.3 -9.6% 160.2%
Others 4,823.4 41,636.4 32,835.6 17,533.1 11,979.0 -88.4% -59.7%
Special Checking Accounts 59,431.3 29,456.0 38,025.5 33,351.9 12,719.2 101.8% 367.3%
Total Deposits 178,641.6 189,544.5 194,789.4 174,291.0 121,176.3 -5.8% 47.4%
Other Source of Funding
Liabilities at a fair value through profit or loss 2,002.0 210.5 135.5 461.9 258.1 851.1% 675.8%
Derivatives 2.0 0.0 0.0 0.0 0.0
Repo Transactions 0.0 0.0 772.0 340.9 435.4
Other financial liabilities 7,529.7 9,302.1 7,926.2 9,693.1 12,411.4 -19.1% -39.3%
Financing received from Central Bank and others 5,851.4 8,513.9 9,583.7 10,620.6 12,276.6 -31.3% -52.3%
Medium Term Notes 4,226.7 4,712.4 7,050.4 5,193.3 8,286.2 -10.3% -49.0%
Current Income tax liabilities 1,288.3 1,231.3 817.5 0.0 0.0 4.6%
Subordinated Loan and Negotiable Obligations 1,140.5 1,169.5 2,983.9 2,414.0 2,886.0 -2.5% -60.5%
Provisions 681.1 833.9 873.7 689.3 921.7 -18.3% -26.1%
Deferred tax liabilities 42.0 183.4 370.3 632.7 643.4 -77.1% -93.5%
Other non-financial liabilities 12,146.1 11,843.9 11,667.4 10,951.9 11,175.7 2.6% 8.7%
Total Other Source of Funding 34,909.8 38,000.8 42,180.6 40,997.7 49,294.4 -8.1% -29.2%
Attributable Shareholders' Equity 36,338.5 35,367.9 34,521.1 33,442.9 32,931.2 2.7% 10.3%
Total Funding 249,889.9 262,913.2 271,491.1 248,731.6 203,401.8 -5.0% 22.9%
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) % Change
AR$ Deposits dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Non‑Financial Public Sector 7,007.8 8,124.7 4,821.8 5,204.2 4,491.0 -13.7% 56.0%
Financial Sector 55.4 14.7 22.2 18.3 25.9 276.9% 113.6%
Non‑Financial Private Sector and Foreign Residents 146,392.1 156,765.3 162,793.2 138,709.2 84,886.5 -6.6% 72.5%
Checking Accounts 16,891.0 17,878.4 22,575.1 18,242.3 16,499.7 -5.5% 2.4%
Savings Accounts 31,744.3 31,694.0 36,887.0 34,849.9 26,201.1 0.2% 21.2%
Time Deposits 41,635.9 43,477.2 41,437.1 45,379.5 27,798.9 -4.2% 49.8%
Wholesale Funding 56,120.8 63,715.7 61,894.0 40,237.6 14,386.8 -11.9% 290.1%
Special Checking Accounts 51,727.2 22,605.5 29,691.8 23,190.3 3,033.0 128.8% 1605.5%
Others 4,393.6 41,110.2 32,202.2 17,047.2 11,353.8 -89.3% -61.3%
Total AR$ Deposits 153,455.2 164,904.7 167,637.2 143,931.6 89,403.4 -6.9% 71.6%
US$ Deposits % Change
(In millions of US$) dec 20 sep 20 jun 20 mar 20 dec 19 QoQ YoY
Total US$ Deposits 299.3 290.6 321.6 372.9 389.7 3.0% -23.2%
Liquidity
US$ Liquidity dec 20 sep 20 jun 20 mar 20 dec 19
(In US$ million)
Cash and due from banks 242.4 205.6 213.1 207.3 232.0
US$ Treasury Bonds - 0 - - 0 - 0 2.5
Liquid US$ Assets 242.4 213.1 213.1 207.3 234.5
Total US$ Deposits 299.3 290.6 321.6 372.9 389.7
Liquid US$ Assets / Total US$ Deposits 81.0% 73.3% 66.3% 55.6% 60.2%
AR$ Liquidity dec 20 sep 20 jun 20 mar 20 dec 19
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period)
Cash and due from banks 16,276.6 13,706.0 20,006.7 29,132.0 19,290.0
Securities Issued by the Central Bank (Leliq) 28,787.2 48,940.8 69,137.2 52,125.4 9,762.8
Treasury Bonds (Botes) 5,837.6 7,070.4 6,087.6 5,896.0 4,207.0
Repo with Central Bank 22,354.7 24,558.6 5,553.0 100.0 - 0
Liquid AR$ Assets 73,256.1 94,275.8 100,784.5 87,253.4 33,259.8
Total AR$ Deposits 153,455.2 164,904.7 167,637.2 143,931.6 89,403.4
Liquid AR$ Assets / Total AR$ Deposits 47.7% 57.2% 60.1% 60.6% 37.2%
Capital
Consolidated Capital
dec 20 sep 20 jun 20 mar 20 dec 19
Attributable Shareholders' Equity 36,338.5 35,367.9 34,521.1 33,442.9 32,931.2
Average Shareholders' Equity 34,400.8 33,993.8 32,397.6 30,669.2 31,791.7
Shareholders' Equity as a % of Total Assets 14.5% 13.5% 12.7% 13.4% 16.2%
Avg. Shareholders' Equity as a % of Avg. Total Assets 13.4% 13.4% 13.2% 13.2% 11.7%
Tang. Shareholders' Equity as a % of T. Tang. Assets 12.2% 11.4% 10.8% 11.4% 13.7%
Calculation of Excess Capital
dec 20 sep 20 jun 20 mar 20 dec 19
Allocated to Assets at Risk 9,047.1 9,477.0 9,020.6 7,291.7 7,164.8
Allocated to Bank Premises and Equipment, Intangible Assets and Equity Investment Assets 1,350.0 0.0 0.0 993.2 826.1
Market Risk 551.8 386.0 357.1 251.8 251.7
Public Sector and Securities in Investment Account 27.7 15.3 14.0 15.3 11.5
Operational Risk 3,233.8 3,072.4 2,909.0 2,602.8 2,350.0
Required Minimum Capital Under Central Bank Regulations 14,210.4 12,950.7 12,300.6 11,154.7 10,604.1
Basic Net Worth 30,242.3 27,557.0 24,670.0 21,203.8 16,991.1
Complementary Net Worth 1,090.9 1,190.1 1,148.1 1,046.8 1,033.7
Deductions -7,028.2 -5,856.7 -5,004.2 -3,598.4 -2,999.7
Total Capital Under Central Bank Regulations 24,304.9 22,890.4 20,813.9 18,652.1 15,025.1
Excess Capital 10,094.5 9,939.7 8,513.4 7,497.4 4,421.0
Credit Risk Weighted Assets 125,991.6 114,959.9 109,441.6 101,860.1 96,585.7
Risk Weighted Assets 173,834.4 158,427.3 150,468.2 137,535.9 129,638.2
Total Capital
dec 20 sep 20 jun 20 mar 20 dec 19
Tier 1 Capital
Paid in share capital common stock 829.6 829.6 829.6 829.6 829.6
Irrevocable capital contributions 0.0 0.0 0.0 0.0 0.0
Share premiums 6,898.6 6,898.6 6,898.6 6,898.6 6,898.6
Disclosed reserves and retained earnings -4,786.7 -4,299.7 -4,021.4 -3,816.3 5,351.4
Non‑controlling interests 346.7 363.1 387.8 407.3 126.0
Capital adjustments 22,680.7 19,586.7 17,671.9 16,376.4 0.0
IFRS Adjustments 366.2 187.4 111.8 -42.4 1,001.8
Expected Loss - Communication "A" 6938 item 10 2,210.1 2,917.2 2,351.7 639.0 0.0
100% of results 1,585.9 1,010.9 373.1 0.0 2,247.1
50% of positive results 312.7 287.5 318.9 186.6 536.6
Sub‑Total: Gross Tier I Capital 30,443.9 27,781.4 24,922.0 21,478.8 16,991.1
Deduct: 0.0 0.0 0.0 0.0 0.0
All Intangibles 2,548.9 1,651.8 1,419.7 1,268.2 754.2
Pending items 91.0 49.1 29.1 45.7 25.6
Other deductions 4,566.1 4,311.6 3,686.1 2,396.8 2,219.9
Total Deductions 7,206.0 6,012.5 5,134.9 3,710.6 2,999.7
Sub‑Total: Tier I Capital 23,237.9 21,768.8 19,787.2 17,768.1 13,991.4
Tier 2 Capital 0.0 0.0 0.0 0.0 0.0
General provisions/general loan‑loss reserves 50% 1,090.9 980.0 957.1 869.0 871.4
Subordinated term debt 0.0 210.1 191.0 177.8 162.3
Sub‑Total: Tier 2 Capital 1,090.9 1,190.1 1,148.1 1,046.8 1,033.7
Total Capital 24,328.8 22,958.9 20,935.3 18,814.9 15,025.1
Credit Risk weighted assets 126,312.3 115,285.7 109,783.9 101,860.1 96,585.7
Risk weighted assets 174,954.4 159,546.4 151,589.9 137,535.9 129,638.2
Tier 1 Capital / Risk weighted assets 13.3% 14.6% 13.1% 12.9% 10.8%
Regulatory Capital / Risk weighted assets 13.9% 14.4% 13.8% 13.7% 11.6%
Fx Position
Consolidated Balance Sheet Data dec 20 sep 20 jun 20 mar 20 dec 19
(In thousands of US$)
Assets
Cash and due from banks 244,230 202,375 217,759 212,086 235,077
Secuities at fair value through profit or loss 87,460 9,716 15,153 7,867 13,121
Loans 145,495 229,919 248,374 295,016 316,093
Other Receivables from Financial Intermediation 4,201 2,580 3,006 11,941 9,176
Other Receivable from Financial Leases 20,432 23,229 25,115 25,645 29,252
Other Assets 7,434 13,214 13,787 34,468 37,215
Other non-financial assets 773 148 160 45 107
Total assets 510,025 481181.750533436 523,355 587,069 640,042
Liabilities and shareholders' equity
Deposits 299,142 297,489 284,813 331,883 389,627
Other financial liabilities 105,163 143,350 197,051 177,658 191,229
Other Liabilities 14,844 18,332 19,530 14,721 17,670
Subordinated Notes 13,554 32,684 35,338 28,863 35,393
Total liabilities 432,702 491,855 536,731 553,126 633,920
Net Position on Balance 77,323 -10,673 -13,376 33,943 6,123
Net Derivatives Position -18,234 16,850 30,901 -8,226 1,631
Global Net Position 59,089 6,176 17,525 25,718 7,754
Reserve Requirements
Minimum Cash Reserve Requirements on AR$ Deposits (Avg. Balance. AR$ Bn.) dec 20 sep 20 jun 20 mar 20 dec 19
Cash 7,556.2 11,013.4 11,540.2 20,013.5 13,830.7
Treasury Bond 5,137.9 6,087.5 4,688.1 4,557.1 3,090.2
Leliq 11,958.2 17,518.2 10,497.1 6,323.9 4,320.9
Special Deduction1 12,730.0 10,648.3 8,859.7 4,318.9 2,695.1
Total Cash Reserve Requirements 37,382.4 45,267.4 35,213.5 23,936.9 24,790.2
US$ Deposits (Avg. Balance. US$ MM.) dec 20 sep 20 jun 20 mar 20 dec 19
Cash 133.3 127.5 84.8 137.8 127.4
Total Cash Reserve Requirements 133.3 127.5 84.8 137.8 127.4
Segments
Personal & Business Segment - Highlights % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Income Statement
Net Interest Income 3,072.5 4,151.4 5,407.8 -26.0% -43.2%
NIIFI & Exchange rate differences 56.4 210.0 1,191.4 -73.2% -95.3%
Net Financial Income 3,128.8 4,361.4 6,599.3 -28.3% -52.6%
Net Service Fee Income 1,092.0 1,174.4 1,243.4 -7.0% -12.2%
Net Operating Revenue, before Loan Loss Provisions 5,081.9 6,455.2 6,231.1 -21.3% -18.4%
RECPPC 166.9 586.5 (318.3) -71.5%
Loan Loss Provisions -1,380.6 (997.0) (826.2) 38.5% 67.1%
Profit before Income Tax -2,889.5 (1,240.7) (1,260.8) 132.9% 129.2%
Attributable Net Income -2,133.4 (880.0) (1,292.2) 142.4% 65.1%
Balance Sheet
Loans (Net of LLP) 51,463.6 52,665.1 55,281.7 -2.3% -6.9%
Receivables from Financial Leases (Net of LLP 1,011.3 1,144.0 1,667.5 -11.6% -39.3%
Total Loan Portfolio (Net of LLP) 52,475.0 53,809.1 56,949.2 -2.5% -7.9%
Deposits 93,834.1 94,423.0 86,332.4 -0.6% 8.7%
Corporate Segment - Highlights % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Income Statement
Net Interest Income 1,506.4 1,505.1 1,424.6 0.1% 5.7%
NIIFI & Exchange rate differences 10.6 10.6 113.5 0.0% -90.7%
Net Financial Income 1,517.0 1,515.6 1,538.1 0.1% -1.4%
Net Service Fee Income 94.7 99.1 287.1 -4.4% -67.0%
Net Operating Revenue, before Loan Loss Provisions 1,141.2 -1,694.9 1,579.3 -27.7%
RECPPC -332.1 -343.9 -376.1 -3.5% -11.7%
Loan Loss Provisions 605.0 -1,725.7 -510.3 -218.6%
Profit before Income Tax 1,057.8 -802.0 -312.9
Attributable Net Income 781.0 -548.4 -336.9
Balance Sheet
Loans (Net of LLP) 40,415.2 43,215.6 49,720.0 -6.5% -18.7%
Receivables from Financial Leases (Net of LLP 1,825.2 1,837.5 2,658.8 -0.7% -31.4%
Total Loan Portfolio (Net of LLP) 42,240.4 45,053.1 52,378.8 -6.2% -19.4%
Deposits 16,184.8 15,596.7 14,481.6 3.8% 11.8%
Treasury Segment - Highlights % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Income Statement
Net Interest Income 2,759.5 2,880.7 -1,406.3 -4.2% -296.2%
NIIFI & Exchange rate differences 951.9 887.9 3,035.7 7.2% -68.6%
Results from Recognition of Financial Instruments at amortized cost -35.2 188.3 - 0 -118.7%
Net Financial Income 3,676.2 3,957.0 1,629.4 -7.1% 125.6%
Net Operating Revenue, before Loan Loss Provisions 3,497.7 3,342.7 1,762.4 4.6% 98.5%
LELIQ Result from exposure to changes in the purchasing power of the currency -4,267.6 -4,874.0 - 0 -12.4%
RECPPC 3,965.4 4,185.8 -79.4 -5.3%
Profit before Income Tax 2,657.8 2,852.9 1,265.8 -6.8% 110.0%
Attributable Net Income 1,982.6 2,144.2 1,228.7 -7.5% 61.4%
Consumer Finance Segment - Highlights
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Income Statement
Net Interest Income 748.9 799.3 665.6 -6.3% 12.5%
NIIFI & Exchange rate differences 55.4 64.6 36.1 -14.2% 53.4%
Net Financial Income 804.4 863.9 701.8 -6.9% 14.6%
Net Service Fee Income 569.9 216.1 314.9 163.8% 81.0%
Net Operating Revenue, before Loan Loss Provisions 1,168.3 867.0 868.5 34.8% 34.5%
RECPPC -321.5 -306.0 -415.1 5.1% -22.5%
Loan Loss Provisions -208.4 -307.1 -300.7 -32.1% -30.7%
Profit before Income Tax -50.5 -392.0 -685.8 -87.1% -92.6%
Attributable Net Income -49.5 -325.0 -369.0 -84.8% -86.6%
Balance Sheet
Loan Portfolio (Net of LLP) 7,387.5 6,398.9 7,898.5 -6.5% -6.5%
Consumer Finance Lending Business* 4Q20 3Q20 4Q19
Avg. Assets 10,488 9,732 12,239
Net Financial Income 795 850 674
Loan Loss Provisions 209 307 234
Personnel & Administrative Expenses 642 602 748
Attributable Net Income -236.0 -203.0 (313)
Net Financial Income / Average Assets** 30.3% 34.9% 22.0%
Loan Loss Provisions / Average Assets** 8.0% 12.6% 7.7%
Operating Expenses /Average Assets** 24.5% 24.7% 24.5%
ROAA** -9.0% -8.3% -10.2%
ROAE** -30.2% -24.2% -31.9%
Assets / Shareholders´Equity 3.4 2.9 3.1
Insurance Segment - Highlights % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Net Financial Income 71.2 84.9 194.0 -16.1% -63.3%
Net Service Fee Income 382.7 309.8 364.6 23.5% 5.0%
Net Operating Revenue, before Loan Loss Provisions 351.1 304.8 63.1 15.2% 456.8%
RECPPC -105.2 -92.5 -497.8 13.8% -24.5%
Profit before Income Tax 154.5 196.6 -139.4 -21.4% -171.4%
Attributable Net Income 91.2 131.9 -216.4 -30.8% -142.2%
Gross written premiums 573.3 532.8 575.3 7.6% -0.4%
Claims Paid 103.7 89.2 95.0 16.2% 9.2%
Combined Ratio 61.0% 66.4% 61.6%
Asset Management & Others Segment Highlights % Change
(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 4Q20 3Q20 4Q19 QoQ YoY
Net Interest Income 1.4 (2.2) 67.9 -165.2% -97.9%
NIIFI & Exchange rate differences 67.8 49.5 105.3 37.1% -35.6%
Net Financial Income 69.2 47.2 173.1 46.5% -60.0%
Net Service Fee Income 427.6 451.8 155.6 -5.4% 174.8%
Net Operating Revenue, before Loan Loss Provisions 452.9 507.0 156.7 -10.7% 189.0%
RECPPC -100.0 (69.2) -167.9 44.4% -40.5%
Profit before Income Tax 141.3 201.4 82.1 -29.8% 72.2%
Attributable Net Income 70.8 132.9 32.4 -46.7% 118.5%
Assets Under Management 38,836 46,089 22,874 -15.7% 69.8%
Market Share 2.1% 2.4% 2.1%
Avg. Consumer
Interest Earning Assets 4Q20 3Q20 4Q19
(In millions of Argentina Ps.) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate
Investment Portfolio
Government and Corporate Securities 397.5 36.1% 291.4 31.1% 190.8 60.0%
Securities Issued by the Central Bank 525.1 46.8% 272.8 54.3% 0.0 0.0%
Total Investment Portfolio 922.6 42.2% 564.2 42.4% 190.8 60.0%
Loans to the Financial Sector
Automobile and Other Secured Loans 968.4 69.8% 775.3 64.0% 696.2 62.1%
Consumer Finance Personal Loans 3,323.1 126.6% 3,248.8 101.3% 4,706.6 73.2%
Credit Card Loans 3,039.4 34.2% 2,767.9 40.7% 3,346.7 39.5%
Total Loans 7,330.9 80.8% 6,792.0 72.4% 8,749.6 59.4%
Repo Transactions 0.0 0.0% 0.0 0.0% 0.0 0.0%
Total Interest.Earning Assets 7,330.9 80.8% 6,792.0 72.4% 8,749.6 59.4%
Interest Bearing Liabilities
Special Checking Accounts 2,559.4 28.3% 2,471.4 18.2% 0.0 0.0%
Time Deposits 1,576.2 42.3% 1,563.7 35.7% 1,063.3 57.5%
Borrowings from Other Fin. Inst. & Unsub Negotiable Obligations 1,557.4 45.9% 800.3 31.7% 4,308.2 49.2%
Total Interest‑Bearing Liabilities 5,692.9 37.0% 4,835.5 26.1% 5,371.6 50.9%

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Grupo Supervielle SA published this content on 08 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2021 08:30:00 UTC.