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• Loan Book Growth: Expanded 15% sequentially and 60% year-to-date in real terms.

• Market Share Gain: Loan book gained 60 basis points in market share since the beginning of the year.

• Total Deposits: Increased in the high teens, with US deposits at a record high.

• Non-Performing Loans Ratio: Remained steady at a historic low.

• Net Interest Margin: Normalized due to lower inflation and evolving interest rate environment.

• Retail Loan Growth: Expanded 44% quarter-over-quarter.

• Car Loans: Doubled in volume, reinforcing position as the number two lender in this segment.

• Corporate Loan Book: Stable quarter-over-quarter and up 54% year-to-date.

• Invertironline Contribution: Accounted for 21% of total fee income with active clients reaching 580,000.

• Insurance Operation Growth: Achieved 36% quarterly growth in car insurance.

• Return on Equity (ROE): Reported at 5% in real terms for the quarter.

• Net Financial Income: Declined 29% sequentially to ARS161 billion.

• Operating Expenses: Increased 2% quarter-on-quarter, impacted by severance charges.

• Net Fee Income: Increased 25%, driven by brokerage and asset management fees.

• Loan Loss Provisions: Contracted 22%, reflecting healthy growth.

• Total Deposits Growth: Grew 17% sequentially, with a 90% increase in US dollar deposits.

• Loan-to-Deposit Ratio: Stood at 58%.

• CET1 Ratio: Declined 210 basis points sequentially to slightly over 19%.

• ROE Guidance: Maintained at 15% for the full year.

• Peso Loans Growth Expectation: Expected to expand between 70% to 80% in real terms for 2024.

• NPL Ratio Expectation: Expected to remain below 1% for the year.

• CET1 Ratio Expectation: Anticipated to close the year between 16% to 18%.

• Warning! GuruFocus has detected 5 Warning Signs with SUPV.

Release Date: November 26, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Grupo Supervielle SA (NYSE:SUPV) reported a 15% sequential and 60% year-to-date growth in its loan book, gaining 60 basis points in market share.

• The company achieved a record high in US deposits, driven by a tax amnesty, with total deposits up in the high teens year-to-date.

• Asset quality remains strong with a non-performing loans ratio at a historic low.

• Mobile transactions accounted for 56% of total transactions, indicating strong customer adoption of digital channels.

• Invertironline, the company's online brokerage platform, contributed 21% of total fee income, with active clients reaching a record 580,000.

Negative Points

• Grupo Supervielle SA (NYSE:SUPV) reported a lower return on equity (ROE) of 5% in real terms for the quarter.

• Net financial income declined 29% sequentially due to a drop in inflation and yield on government securities and loans.

• Operating expenses increased by 2% quarter-on-quarter, impacted by severance charges.

• The company's CET1 ratio declined by 210 basis points sequentially to slightly over 19% at quarter-end.

• The Argentine macroeconomic environment remains challenging, with Central Bank net reserves still negative and FX restrictions in place.