Management View - Grupo Supervielle S.A. reported results in line with guidance for Q4 2025, indicating a strong positioning of the balance sheet for industry recovery [2] - CEO Julio Patricio Supervielle highlighted that the fourth quarter was characterized by elevated system-wide performance, suggesting a positive outlook for the banking sector [2] Loan Growth Target - The company has set a loan growth target of 25%-30% for 2026, reflecting confidence in recovering margins and strengthening capital [2]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported an attributable net loss of ARS 19.5 billion, significantly narrowing from a loss of ARS 55 billion in Q3 2025, reflecting margin recovery and strict cost control despite elevated cost of risk [3][10] - Total loans grew 8% sequentially and 37% year-over-year, with commercial lending expanding 25% quarter-over-quarter, now representing 63% of the portfolio [2][11] - The NPL ratio increased to 5% from 3.9% in the prior quarter, consistent with industry trends amid elevated credit stress [3][12] - Cost of risk reached 10.4% in Q4, with a full-year cost of risk at 6.2% [12] Business Line Data and Key Metrics Changes - Retail loan balances declined 4% sequentially but increased 8% year-over-year, reflecting stricter underwriting standards [11] - Core transactional balances remained resilient, with US dollar deposits increasing 42% year-over-year [3][12] - Net financial income reached ARS 246 billion in Q4, up 82% sequentially, driven by lower funding costs and improved yields [13][14] Market Data and Key Metrics Changes - The company gained 60 basis points of market share in US dollar deposits, indicating a strong competitive position in the market [3] - The broader environment showed signs of recovery post-midterm elections, with declining interest rates and improving liquidity [4][5] Company Strategy and Development Direction - The company continues to execute a roadmap focused on profitable growth, targeted segments, and ecosystem integration, emphasizing a customer-centric and technology-enabled model [6][8] - The strategic focus includes enhancing the App Supervielle as a financial hub, integrating various financial services into a unified experience [6][7] - The company aims to capture growth opportunities in Argentina's domestic capital market, particularly among affluent clients and corporations [8][9] Management's Comments on Operating Environment and Future Outlook - Management noted that Q4 marked the peak of a tight monetary policy, with expectations for gradual normalization and economic recovery in 2026 [4][5] - The company anticipates real loan growth between 25% and 30% in 2026, led by corporate lending, with retail credit expected to regain momentum as economic conditions improve [15][16] - Management expressed confidence in the company's ability to navigate the evolving economic landscape, emphasizing disciplined risk management and a strong capital base [9][10] Other Important Information - The CET1 ratio strengthened to 15.4%, up 220 basis points quarter-over-quarter, providing flexibility for growth in 2026 [4][10] - The company expects net fee income to expand around 5% in real terms, driven by banking and brokerage activities [15][16] Q&A Session Summary Question: Capital levels and dividend policy - Analysts inquired about the sustainability of the CET1 ratio above 15% and the company's dividend policy following a negative result in 2025. Management indicated that the capital ratio would normalize between 11% and 13% in 2026, with no dividends expected until 2027 [19][22] Question: Market sentiment and catalysts for growth - Questions were raised regarding potential catalysts for improving market sentiment in the banking sector. Management highlighted the government's reform agenda and the importance of fiscal discipline and monetary policy normalization [24][26] Question: Loan growth outlook and NPLs - Analysts sought clarification on the company's loan growth outlook amid rising NPLs. Management noted improvements in collection trends and expressed confidence that Q4 marked the peak in provisions [31][33] Question: Retail credit portfolio and fintech competition - Questions were posed about the retail credit portfolio's contraction and the competitive landscape with fintechs. Management acknowledged the need for improved economic conditions to resume growth in retail lending [70][76] Question: Deposit growth and monetary policy - Analysts asked about deposit growth and the impact of monetary policy on the banking system's profitability. Management indicated that improving economic conditions and declining interest rate volatility would support deposit growth [62][68]

Financial Data and Key Metrics Changes - Total loans grew 8% sequentially and 37% year-over-year, with corporate loans expanding 25% quarter-over-quarter, now representing 63% of the portfolio [2][11] - The NPL ratio increased to 5%, reflecting industry trends and rapid loan growth since 2024 [3][14] - The company reported an attributable net loss of ARS 19.5 billion, significantly narrowing from a loss of ARS 55 billion in the previous quarter [3][11] - NIM rebounded sequentially, supported by lower funding costs and improved investment portfolio yields, with net financial income reaching ARS 246 billion, up 82% sequentially [4][16] Business Line Data and Key Metrics Changes - Commercial lending drove loan growth, increasing 25% sequentially and 64% year-over-year, while retail loans declined 4% sequentially [12][14] - Core transactional balances increased significantly, with checking accounts up 39% and retail savings accounts rising 29% [15] - Loan loss provisions increased 75% sequentially, reflecting higher system-wide delinquency [13] Market Data and Key Metrics Changes - US dollar deposits increased 42% year-over-year, gaining 60 basis points of market share [3] - The company observed declining interest rates and improving liquidity following the October elections, which are expected to support economic recovery [6][10] Company Strategy and Development Direction - The company continues to execute a roadmap focused on profitable growth, targeted segments, and ecosystem integration, emphasizing a customer-centric and technology-enabled model [7][10] - The strategic focus includes enhancing the App Supervielle as a financial hub, integrating various financial services into a unified experience [8][10] - The company aims to capture growth in Argentina's domestic capital market, focusing on affluent clients and corporations to enhance revenue stability [9][10] Management's Comments on Operating Environment and Future Outlook - Management noted that the fourth quarter marked the peak of an exceptionally tight monetary policy, with early signs of normalization observed post-elections [4][6] - The company expects economic activity to recover gradually in 2026, creating a basis for renewed credit expansion [6][10] - Management remains cautious but optimistic about improving collection trends and stabilizing risk indicators [14][35] Other Important Information - The CET1 ratio strengthened to 15.4%, up 220 basis points quarter-over-quarter, preserving flexibility for growth in 2026 [4][11] - The company anticipates real loan growth between 25% and 30% in 2026, with deposits projected to expand between 20% and 25% [17][18] Q&A Session Summary Question: Capital buffer sustainability and dividend policy - Management indicated that the capital ratio increase is partly due to off-balance sheet losses and expects the ratio to remain between 11% and 13% in 2026, with no dividends planned for 2026 due to the negative result [21][24][25] Question: Market sentiment and catalysts for growth - Management highlighted the government's ambitious reform agenda and potential improvements in the job market as positive catalysts for the banking sector [28][30] Question: Loan growth outlook amid rising NPLs - Management acknowledged the peak in provisions and indicated that improved collection trends could stabilize NPLs moving forward [34][36] Question: ROE guidance and profitability outlook - Management expects sequential improvements in ROE throughout 2026, with a target of double-digit ROE by the end of the year [38][39] Question: Balance sheet deleveraging strategy - Management clarified that recent balance sheet adjustments were tactical and related to optimizing funding quality, with plans to expand when opportunities arise [41][42] Question: Retail credit portfolio recovery - Management noted that retail credit growth will depend on disinflation and improved consumer confidence, with fintech competition acknowledged [76][77]

Financial Data and Key Metrics Changes - Total loans grew 8% sequentially and 37% year-over-year, with corporate loans expanding 25% quarter-over-quarter, now representing 63% of the portfolio [2][12] - The NPL ratio increased to 5%, reflecting industry trends and rapid loan growth since 2024 [3][13] - The company reported an attributable net loss of ARS 19.5 billion, significantly narrowing from a loss of ARS 55 billion in the previous quarter [4][11] - NIM rebounded sequentially, supported by lower funding costs and better investment portfolio yields, with a significant increase in net financial income to ARS 246 billion, up 82% sequentially [4][16] Business Line Data and Key Metrics Changes - Commercial lending drove loan portfolio expansion, increasing 25% sequentially and 64% year-over-year, while retail loans declined 4% sequentially [12][13] - Core transactional balances remained resilient, with US dollar deposits increasing 42% year-over-year [3][15] - Loan loss provisions increased 75% sequentially, reflecting higher system-wide delinquency [11][12] Market Data and Key Metrics Changes - The fourth quarter marked the peak of an exceptionally tight monetary policy, with high real interest rates and elevated reserve requirements constraining liquidity [4][5] - Following the October elections, conditions began to improve, with declining interest rates and gradually improving liquidity [5][6] Company Strategy and Development Direction - The company continues to execute a roadmap focused on profitable growth, targeted segments, and ecosystem integration, emphasizing a customer-centric and technology-enabled model [6][7] - The integration of the App Supervielle as a financial hub is central to the strategy, with over 70% of transactions being digital [7][8] - The company aims to capture growth in Argentina's domestic capital market, focusing on affluent clients and corporations to enhance revenue stability [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the foundation for financial recovery in 2026, with expectations for gradual economic activity recovery and renewed credit expansion [5][10] - The company anticipates real loan growth between 25% and 30% in 2026, with a focus on corporate lending and a gradual recovery in retail credit [17][18] Other Important Information - The CET1 ratio strengthened to 15.4%, providing flexibility for growth in 2026 [4][11] - The company expects net fee income to expand around 5% in real terms, driven by banking and brokerage activity [18] Q&A Session Summary Question: Capital structure and dividend policy - The company confirmed that the CET1 ratio will be maintained between 11% and 13% in 2026, with no dividends expected due to the negative result in 2025 [20][24] Question: Market sentiment and catalysts for growth - Management highlighted the government's ambitious reform agenda as a positive catalyst for market sentiment and the banking sector [26][28] Question: Loan growth outlook amid rising NPLs - Management acknowledged the increase in NPLs but noted improvements in collection trends and expected stabilization in credit costs [32][34] Question: Retail credit portfolio and competition from fintechs - The company plans to gradually grow the retail portfolio in 2026, focusing on improved credit models and collections [71][75] Question: Deposit growth and monetary policy - Management indicated that deposit growth is expected to continue, with a focus on CASA deposits to improve funding quality [46][65]

IR-GrupoSupervielle@gruposupervielle,com,ar Ciudad de Buenos Aires, Argentina 4Q25 Earnings Presentation March 2026 Disclaimer This presentation contains certain forward-looking statements that reflect the current views and/or expectations of Grupo Supervielle and its management with respect to its performance, business and future events, We use words such as "believe," "anticipate," "plan," "expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "seek," "future," "should" a ...

Core Insights - Grupo Supervielle S.A. reported a net loss of AR$19.5 billion in Q4 2025, showing significant improvement from a loss of AR$54.2 billion in Q3 2025, and a net income of AR$37.1 billion in Q4 2024, indicating a recovery in financial conditions [6][7][12] - The company anticipates a supportive environment for credit expansion and sustainable profitability as macroeconomic conditions normalize and reforms advance [5][8] Financial Performance - The attributable net loss for FY 2025 was AR$48.6 billion, compared to a net income of AR$164.7 billion in FY 2024, primarily due to extraordinary monetary tightening and regulatory conditions [7][13] - The net financial margin increased to AR$245.7 billion in Q4 2025, up 82.2% QoQ, driven by lower funding costs and improved investment portfolio yields [19][14] - Loan loss provisions rose to AR$108.3 billion in Q4 2025, up 72.2% QoQ and 408.3% YoY, reflecting weaker asset quality amid a challenging macroeconomic environment [25][26] Operational Highlights - Total loans reached AR$3,982.9 billion as of December 31, 2025, increasing 172.1% since March 31, 2024, with a quarterly growth of 8.4% [37][38] - The efficiency ratio improved to 60.6% in Q4 2025, down from 63.8% in Q4 2024, reflecting a 67.1% increase in revenues and a 5.6% reduction in personnel expenses [27][28] - The company added 114,000 payroll customers in 2025, enhancing its funding base and client engagement [4] Market Position and Strategy - The company maintained a strong CET1 ratio of 15.4% as of December 31, 2025, reflecting balance sheet strength and flexibility [39] - The NPL ratio increased to 5.0% in Q4 2025, up from 3.9% in Q3 2025, indicating higher delinquency levels in the retail portfolio [24] - The company executed over 70% of transactions through its mobile app, highlighting a shift towards digital engagement [4]

Financial Data and Key Metrics Changes - The company reported a net loss of ARS 50.3 billion in Q3 2025, significantly impacted by high real interest rates and tight monetary policy [3][4] - Net financial income declined by 43% sequentially, with the NIM for pesos falling to 11.7% and total NIM to 10.8%, down 1,100 and 1,000 basis points respectively [6][7] - The CET1 ratio reached 13.2% at the end of the quarter and improved to 14.5% in October [5] Business Line Data and Key Metrics Changes - Loan growth was solid, up 8% in real terms, primarily driven by corporate lending, while retail lending slightly declined due to tightened origination standards [4] - The NPL ratio rose to 3.9%, mainly due to retail loans, but the NPL share of individuals remains below the retail loan share [4][5] - Deposit growth was strong, increasing by 15% quarter-on-quarter and over 40% year-on-year, with dollar deposits reaching a record high, up 31% sequentially [4] Market Data and Key Metrics Changes - The company anticipates real loan growth of 35%-40% for the full year 2025, led by corporate lending, with retail gradually resuming growth as disposable income improves [7][8] - The forecast for deposits is a growth of 30%-35%, with further gains in U.S. dollar-denominated deposits [8] Company Strategy and Development Direction - The company is focused on enhancing customer engagement and expanding cross-sell opportunities, particularly through its super app and InvertirOnline [5] - Strategic initiatives are aimed at unlocking the full value of the franchise, with a commitment to return to profitability and sustained long-term value [2][5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about post-election stabilization, with improving confidence and declining interest rates [3][4] - The company expects a gradual improvement in asset quality and loan growth as macroeconomic conditions normalize [7][8] Other Important Information - The company is maintaining tight control on costs, which declined by 2% quarter-on-quarter and 12% year-to-date in real terms [5] - The management is preparing for potential strategic alliances and partnerships to enhance resilience and adapt to market changes [66][68] Q&A Session Summary Question: Long-term growth expectations and segment growth - Management indicated that loan growth is expected to come mainly from corporates and SMEs, with retail picking up later in 2026 as economic conditions improve [32][33] Question: ROE expectations for next year - Management anticipates a medium-term target ROE of high single digits to low double digits for 2026, depending on the pace of economic recovery [51][52] Question: Corporate vs. retail loan mix - The current loan mix is tilted towards corporate loans, but management expects a more balanced approach by the end of 2026 as retail demand increases [59][60] Question: Asset quality and NPL dynamics - Management believes that the NPL ratio may peak in Q4 2025, with expectations for gradual improvement as macro conditions normalize [76][77] Question: Liquidity conditions and potential constraints - Management noted that increasing money demand post-elections should support deposit growth, and they are prepared to tap international markets if conditions allow [86]

Financial Data and Key Metrics Changes - The company reported a net loss of ARS 50.3 billion in Q3 2025, significantly impacted by high real interest rates and tight monetary policy [3][4][6] - Net financial income declined by 43% sequentially due to increased funding costs and local market volatility [6] - The CET1 ratio was 13.2% at the end of the quarter, improving to 14.5% in October [5] Business Line Data and Key Metrics Changes - Loan growth was solid, up 8% in real terms, primarily driven by the corporate segment, while retail lending slightly declined [4] - The NPL ratio rose to 3.9%, mainly due to retail loans, but the NPL share of individuals remains below the retail loan share [4][5] - Deposit growth was strong, increasing by 15% quarter on quarter and over 40% year on year, with dollar deposits reaching a record high [4] Market Data and Key Metrics Changes - The company anticipates real loan growth of 35%-40% for the full year 2025, led by corporate lending [7] - NIM is projected to be between 15%-18% for the full year, reflecting the impact of high interest rates [8] - The company expects an NPL ratio between 4.7%-5.1% and a net cost of risk of 5.8%-6.3% for the full year [8] Company Strategy and Development Direction - The company is focused on enhancing customer engagement and expanding cross-sell opportunities, particularly through its super app and Invertir Online [5] - Strategic initiatives are aimed at unlocking the full value of the franchise and returning to profitability [2][5] - The company plans to tap into international markets for funding if conditions allow, indicating a strategy to increase leverage [82] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the post-election environment, noting early signs of stabilization and improving confidence [2][3] - The company is preparing for a gradual recovery in loan demand, particularly from corporates and SMEs, as economic conditions improve [31] - Management acknowledged the challenges faced in Q3 but emphasized a focus on controlling costs and investing in business growth [5][6] Other Important Information - The political landscape in Argentina is shifting, with significant changes expected in governance and economic reforms following the recent elections [10][11] - The company is open to strategic alliances and partnerships to adapt to the evolving market conditions [67][68] Q&A Session Summary Question: Long-term growth expectations and segment growth - Management indicated that loan growth is expected to be led by corporates and SMEs, with retail lending picking up later in 2026 as economic conditions improve [31][32] Question: ROE expectations for next year - Management expects ROE to be in the high single digits or low double digits for 2026, depending on the pace of economic recovery and regulatory changes [51][52] Question: Corporate vs. retail loan mix - The company aims for a balanced loan mix, with corporate loans currently exceeding 50% of the total, and expects retail loans to increase as consumer confidence improves [58][59] Question: Asset quality and NPL dynamics - Management anticipates that NPLs may peak in Q4 2025, with gradual improvement expected as macroeconomic conditions stabilize [76][77] Question: Liquidity conditions and growth constraints - Management noted that liquidity conditions are improving post-elections, with expectations for increased deposit growth and a focus on capturing stable deposits [86]

Financial Data and Key Metrics Changes - The company reported a net loss of ARS 50.3 billion in Q3 2025, significantly impacted by high real interest rates and tight monetary policy [4][5] - Net financial income declined by 43% sequentially, with the peso NIM falling to 11.7% and total NIM to 10.8%, down 1,100 and 1,000 basis points respectively [7][9] - The CET1 ratio reached 13.2% at quarter end and improved to 14.5% in October, supported by lower deferred asset tax deductions [6] Business Line Data and Key Metrics Changes - Loan growth was solid, up 8% in real terms, primarily driven by the corporate segment, while retail lending declined slightly due to tightened origination standards [5] - The NPL ratio rose to 3.9%, mainly due to the retail segment, although the NPL share of individuals remains below the retail loan share [5][56] - Deposit growth was strong, increasing by 15% quarter on quarter in real terms and over 40% year on year, with dollar deposits reaching a record high, up 31% sequentially [5] Market Data and Key Metrics Changes - The company anticipates real loan growth of 35%-40% for the full year 2025, led by corporate lending, with retail gradually resuming growth as disposable income improves [9] - Deposits are forecasted to grow 30%-35%, with further share gains in US dollar-denominated deposit balances [9] Company Strategy and Development Direction - The company is focused on controlling costs, with a 2% decline quarter on quarter and a 12% decline year to date in real terms [6] - Strategic initiatives include scaling the super app, enhancing customer engagement, and expanding cross-sell opportunities, particularly at Invertir Online [6] - The company is committed to returning to profitability and delivering long-term value, supported by the expected easing of monetary conditions [3][4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about post-election stabilization, with improving confidence and declining interest rates [4] - The company expects a gradual improvement in asset quality, with NPLs projected to peak in Q4 2025 [56] - Future ROE is anticipated to range between negative 5% and 0% for the full year, with expectations for improvement in 2026 as economic conditions normalize [10][41] Other Important Information - The political landscape in Argentina is changing, with a shift towards a more fragmented political environment, which may impact economic reforms [12][18] - The company is open to strategic alliances and partnerships to enhance its competitive position in the market [53] Q&A Session Summary Question: Long-term growth expectations and segment growth - The company guided for real loan growth of 35%-40% this year, with expectations for corporate lending to lead growth and retail to pick up later [30][31] Question: ROE expectations for next year - The company expects ROE to be in the high single digits or low double digits for next year, depending on the pace of economic recovery [41][42] Question: Balance between corporate and retail loans - The company aims for a balanced loan mix, with corporate loans currently exceeding 50% of the mix, expecting retail to catch up as conditions improve [44][46] Question: Asset quality dynamics and NPL expectations - The company anticipates that NPLs may peak in Q4 2025, with a coverage ratio expected to remain between 110-120% [55][57] Question: Liquidity conditions and growth constraints - The company sees a rebound in money demand post-elections, which should support deposit growth and mitigate liquidity constraints [62]

Business Performance - Loan book grew by 8% QoQ, outperforming the industry growth of 7.6%[8] - Total deposits increased by 15% QoQ and 40% YoY[8] - US$ deposits reached record levels, up 31% QoQ and 56% YoY[8] - Net fee income increased by 7% QoQ and 9% YTD[8] Profitability and Asset Quality - The company experienced a net loss of 50 billion in 3Q25 due to increased Cost of Risk (COR)[8] - Net Interest Margin (NIM) declined to 11%[8] - NPL ratio increased to 3.9%[8] - Net COR was 6.4% in 3Q25 and 5.2% YTD[8] Strategic Initiatives and Capital - CET1 ratio stood at 13.2% as of September 2025, increasing to 14.5% by October 2025[8, 18] - The company continued to evolve its SuperApp[8] - Cost reduction of 2% QoQ and 12% YTD was achieved[8] Macroeconomic Context - The Central Bank Market Expectations Survey as of October 2025 projected inflation of 30%, an Fx eop at 1,532, and GDP growth of 3.9% in 2025[15, 19]