Grupo Supervielle S.A. Stock Price, News & Analysis

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.

Grupo Supervielle S.A. (NYSE: SUPV) reported its results for Q4 and FY2022, indicating a strategic effort to return to profitability by 2Q23. The company streamlined operations by merging its consumer finance division with the bank and reducing headcount by 21%. Despite inflation pressures, customer engagement and digital adoption increased, with a 6% growth in retail customers. The bank’s Tier 1 Capital Ratio stands at 13%, providing a strong liquidity position. Attributable net loss for 4Q22 was AR$791.6 million, down from AR$1.8 billion in 4Q21. The net interest margin improved to 21.6%, and loan provisions decreased 24.5% YoY.

Grupo Supervielle reported a net loss of AR$562.4 million for Q3 2022, an increase from losses of AR$316.1 million in Q3 2021. The bank achieved a pre-tax profit of AR$565.4 million, reflecting a significant improvement from a loss of AR$2.6 billion in the previous quarter. ROAE for the bank reached 2.6%, showing progress from previous negative results. Despite challenges from inflation at 22%, the bank's total deposits increased by 53% YoY. The efficiency ratio improved to 73.1%, and the bank maintained a solid Tier 1 capital ratio of 14.2%.

Grupo Supervielle S.A. (NYSE: SUPV) reported a net loss of AR$2.0 billion in 2Q22, compared to AR$521.5 million in 2Q21. Factors impacting profitability included higher losses at IUDÚ due to inflation, severance charges, and a drop in government securities' prices. Despite a 26% increase in digital customers, the company faced a contraction in consumer finance loans. Total deposits rose 6.3% QoQ, while NPLs improved to 3.8%. The board approved a share repurchase program of AR$2 billion, supported by a stable Tier 1 ratio of 13.6%.

Grupo Supervielle S.A. (NYSE: SUPV) has initiated a share buyback program, aiming to invest up to AR$2,000,000,000 or 10% of its capital stock. This program is designed to enhance shareholder value by reducing the gap between market price and asset value amidst high market volatility. The buyback is supported by the company’s strong liquidity and will utilize realized earnings, ensuring solvency is maintained. The program will commence the day following its market publication and last for 250 days.

Grupo Supervielle S.A. reported a 1Q22 attributable net loss of AR$377.6 million, a decline from a net gain of AR$293.6 million in 1Q21. Despite a sequential increase in net interest margin by 90 bps, loan demand weakened due to high inflation affecting consumers' purchasing power. The total NPL ratio remained stable at 4.3%, with loan loss provisions decreasing 7.1% YoY but increasing 4.7% QoQ. The common equity tier 1 ratio stood at 13.8%, reflecting a solid capital position despite challenging market conditions.

Grupo Supervielle S.A. (NYSE: SUPV) has filed its annual report on Form 20-F for the year ended December 31, 2021, with the SEC. The financial statements were reported according to IFRS standards, differing significantly from those issued under the BCRA standards. The company has 288 access points and serves 2.0 million active customers, showcasing its extensive reach in the financial services sector. As of now, Supervielle has 456,722,322 shares outstanding, with a free float of 64.9%.

Grupo Supervielle S.A. reported a net loss of AR$664.0 million for 4Q21, compared to a net gain of AR$1.3 billion in 4Q20, primarily due to one-time early retirement charges and losses at IUDÚ. Despite the losses, the company enhanced its customer base by over 53,000 clients, reaching 1.5 million, with 80% being digital customers. Improvements included a sequential decrease of total non-performing loans to 4.3% and a reduction in funding costs. However, factors like low credit demand and rising regulations negatively impacted overall profitability.