Grupo Supervielle S.A. (SUPV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca argentina, Grupo Supervielle S.A. surge como una potencia de innovación financiera, navegando estratégicamente el complejo terreno de la transformación digital y los servicios centrados en el cliente. Al combinar a la perfección la experiencia bancaria tradicional con soluciones tecnológicas de vanguardia, el banco ha creado un modelo de negocio único que no solo aborda las diversas necesidades financieras de individuos y empresas, sino que también se posiciona como una institución con visión de futuro en el ecosistema financiero competitivo de Argentina. Desde experiencias digitales personalizadas hasta soluciones financieras integrales, el enfoque de Grupo Supervielle representa una narración convincente de adaptabilidad, destreza tecnológica y una profunda comprensión del mercado local.

Grupo Supervielle S.A. (SUPV) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con empresas de tecnología financiera local e internacional

Grupo Supervielle ha establecido asociaciones estratégicas con las siguientes empresas fintech:

Pareja	Enfoque de asociación	Año establecido
Ualá	Soluciones de banca digital	2019
Mercado Pago	Integración de pagos móviles	2017

Asociaciones con bancos argentinos e instituciones financieras

Supervielle mantiene relaciones colaborativas con múltiples instituciones financieras:

• Banco nacia
• Banco Ciudad
• Banco Provincia

Colaboración con plataformas de pago digital

Las asociaciones de la plataforma de pago digital incluyen:

Plataforma	Volumen de transacción (2023)	Tipo de asociación
Mercado Pago	Ars 127 mil millones	Procesamiento de pagos
Naranja x	ARS 89 mil millones	Integración de billetera digital

Relaciones con proveedores de tecnología y proveedores de software

Asociaciones de tecnología clave:

• Microsoft Azure - Infraestructura en la nube
• IBM - Soluciones de software empresarial
• SAP - Planificación de recursos empresariales

Inversión total de asociación en 2023: ARS 215 millones

Grupo Supervielle S.A. (SUPV) - Modelo de negocio: actividades clave

Proporcionar servicios bancarios y financieros en Argentina

A partir de 2023, Grupo Supervielle opera 266 sucursales en Argentina con un enfoque en los servicios bancarios regionales. El banco atiende a aproximadamente 2.5 millones de clientes y mantiene una base de activos total de 1.3 billones de pesos argentinos.

Categoría de servicio	Penetración del mercado	Volumen de transacción anual
Banca personal	42% de participación de mercado en el segmento de PYME	186 millones de transacciones
Banca corporativa	27% de clientes corporativos del mercado medio	94 millones de transacciones

Desarrollo y mantenimiento de la plataforma de banca digital

Supervielle invirtió 580 millones de pesos en infraestructura digital en 2023, apoyando:

• Aplicación de banca móvil con 1.2 millones de usuarios activos
• Capacidad de procesamiento de transacciones en línea de 98.6% de tiempo de actividad
• Sistemas de pago digital en tiempo real

Gestión de riesgos y evaluación de crédito

Métricas de gestión de riesgos de crédito para 2023:

Métrico de riesgo	Porcentaje
Ratio de préstamo sin rendimiento	3.7%
Cobertura de provisión de pérdida de préstamo	127%

Servicio al cliente e innovación de productos financieros

En 2023, Supervielle lanzó 14 nuevos productos financieros con enfoque digital primero, dirigido a segmentos de mercado específicos.

• Productos de crédito solo digitales
• Paquetes de inversión personalizados
• Soluciones microdecientes para emprendedores

Servicios de inversión y gestión de patrimonio

Rendimiento de la división de gestión de patrimonio en 2023:

Segmento de servicio	Activos totales bajo administración	Crecimiento anual
Individuos de alto patrimonio	268 mil millones de pesos	14.3%
Inversores institucionales	412 mil millones de pesos	11.7%

Grupo Supervielle S.A. (SUPV) - Modelo de negocio: recursos clave

Red de sucursal extensa

A partir de 2023, Grupo Supervielle opera 272 ramas en Argentina, con una presencia significativa en áreas y provincias metropolitanas clave.

Distribución geográfica	Número de ramas
Provincia de Buenos Aires	156
Otras provincias argentinas	116

Infraestructura de tecnología de banca digital

La plataforma digital del banco admite:

• Aplicación de banca móvil con 1.2 millones de usuarios activos
• Plataforma bancaria en línea con tiempo de actividad del 98.5%
• Capacidades de procesamiento de transacciones en tiempo real

Capital financiero y liquidez

Métrica financiera	Valor (2023)
Activos totales	ARS 1.458,695 millones
Patrimonio de los accionistas	ARS 237,456 millones
Relación de activos líquidos	24.6%

Fuerza laboral hábil

Total de empleados: 4.987 a diciembre de 2023

• Promedio de la tenencia del empleado: 8.3 años
• Empleados con certificaciones financieras avanzadas: 62%

Base de datos de clientes y sistemas de información

Segmento de clientes	Número de clientes
Total de clientes	2.3 millones
Clientes bancarios corporativos	18,500
Clientes bancarios individuales	2,281,500

Grupo Supervielle S.A. (SUPV) - Modelo de negocio: propuestas de valor

Soluciones financieras integrales para individuos y empresas

Grupo Supervielle ofrece una amplia gama de productos financieros con las siguientes métricas clave:

Categoría de productos	Valor total de la cartera	Penetración del mercado
Banca personal	ARS 180.5 mil millones	37.2% de participación de mercado en Argentina
Banca de negocios	ARS 215.3 mil millones	29.8% de cobertura del mercado de PYME
Banca corporativa	ARS 95.7 mil millones	22.6% segmento empresarial grande

Experiencias de banca digital innovadoras

Indicadores de rendimiento de banca digital:

• Usuarios de banca móvil: 1.2 millones
• Volumen de transacciones en línea: 68% de las transacciones totales
• Tasa de participación de la plataforma digital: 73.4%

Productos y servicios financieros personalizados

Tipo de producto	Nivel de personalización	Adopción anual del cliente
Préstamos personales	Alta personalización	42,500 nuevos clientes
Carteras de inversión	Perfiles de riesgo a medida	28,300 nuevas cuentas de inversión
Productos de seguro	Ofertas segmentadas	19,700 nuevos titulares de políticas

Tasas de interés competitivas y bajas tarifas de transacción

Métricas de competitividad financiera:

• Tasa de interés promedio de préstamo personal: 48.5% por año
• Tasa de interés de cuenta de ahorro promedio: 35.2% por año
• Promedio de tarifas de transacción: 0.75% del valor de transacción

Experiencia en el mercado local y enfoque centrado en el cliente

Segmento de clientes	Total de clientes	Tasa de satisfacción del cliente
Clientes individuales	2.4 millones	86.7%
Clientes comerciales	185,000	91.3%
Clientes corporativos	12,500	93.2%

Grupo Supervielle S.A. (SUPV) - Modelo de negocios: relaciones con los clientes

Atención al cliente digital y en persona personalizado

Grupo Supervielle ofrece atención al cliente multicanal con 72 ubicaciones de sucursales físicas en Argentina a partir de 2023. Los canales de soporte digital incluyen:

• Servicio al cliente en línea 24/7
• Soporte de aplicaciones móviles
• Centro de banca telefónica

Canal de soporte	Tiempo de respuesta promedio	Tasa de satisfacción del cliente
Soporte digital	12 minutos	87.3%
Apoyo en persona	18 minutos	92.1%

Plataformas de banca móvil y en línea

Métricas de plataforma digital:

• Usuarios de banca móvil: 1.2 millones
• Transacciones bancarias en línea: 4.3 millones mensuales
• Volumen de transacción de plataforma digital: ARS 156 mil millones anualmente

Programas de fidelización de clientes

Nombre del programa	Inscripción	Beneficios anuales
Recompensas de SuperVielle	385,000 miembros	ARS 12.5 millones

Servicios de asesoramiento financiero regular

SuperVielle ofrece consultas financieras personalizadas a través de:

• Gerentes de relaciones dedicadas
• Chequeos trimestrales de salud financiera
• Recomendaciones de inversión personalizadas

Estrategias de comunicación y compromiso

Canal de comunicación	Tasa de compromiso	Alcance anual
Campañas de correo electrónico	42.6%	1.8 millones de clientes
Interacciones en las redes sociales	35.2%	650,000 seguidores

Grupo Supervielle S.A. (SUPV) - Modelo de negocios: canales

Sucursales bancarias físicas

A partir de 2023, Grupo Supervielle opera 266 sucursales bancarios físicos en Argentina.

Categoría de rama	Número de ramas	Distribución geográfica
Ramas urbanas	198	Área metropolitana de Buenos Aires
Ramas provinciales	68	Otras provincias argentinas

Aplicación de banca móvil

La aplicación de banca móvil de Supervielle tiene 1,2 millones de usuarios activos a diciembre de 2023.

• Estadísticas de descarga de la aplicación: 2.4 millones de descargas totales
• Transacciones mensuales promedio: 875,000
• Valor de transacción bancaria móvil: ARS 127 mil millones anualmente

Sitio web de banca en línea

La plataforma bancaria en línea atiende a 1,5 millones de usuarios registrados en 2023.

Métricas de plataforma web	2023 datos
Usuarios activos mensuales	980,000
Volumen de transacción anual	ARS 215 mil millones

Red de cajeros automáticos

Grupo Supervielle mantiene 432 cajeros automáticos en Argentina.

• Ubicaciones de cajeros automáticos: principalmente en Buenos Aires y las principales ciudades provinciales
• Transacciones mensuales de cajeros automáticos: 1.3 millones
• Valor de transacción promedio: ARS 15,500

Centros de llamadas de servicio al cliente

El banco opera tres centros de llamadas de servicio al cliente centralizados.

Métricas del centro de llamadas	2023 rendimiento
Volumen total de llamadas	2.1 millones de llamadas
Tiempo de respuesta promedio	47 segundos
Tasa de satisfacción del cliente	88.5%

Grupo Supervielle S.A. (SUPV) - Modelo de negocio: segmentos de clientes

Clientes de banca minorista individual

A partir de 2024, Grupo Supervielle atiende a aproximadamente 1,2 millones de clientes de banca minorista individual en Argentina.

Desglose del segmento de clientes	Número de clientes	Cuota de mercado
Cuentas corrientes personales	680,000	4.3%
Cuentas de ahorro personal	520,000	3.9%

Empresas pequeñas y medianas

Grupo Supervielle admite 45,000 pequeñas y medianas empresas (PYME) en Argentina.

• Portafolio de préstamos Total PYME: ARS 127.5 mil millones
• Tamaño promedio del préstamo: ARS 2.8 millones
• El segmento SME representa el 22% de la cartera de préstamos totales del banco

Clientes bancarios corporativos

El banco atiende a 1.850 clientes de banca corporativa con soluciones financieras especializadas.

Categorías de segmento corporativo	Número de clientes	Préstamos corporativos totales
Grandes corporaciones	350	ARS 85.6 mil millones
Corporaciones de tamaño mediano	1,500	ARS 42.3 mil millones

Individuos de alto nivel de red

Grupo Supervielle gestiona los servicios de banca privada para 12,500 personas de alto patrimonio.

• Valor de la cartera promedio: ARS 95 millones por cliente
• Activos totales bajo administración: ARS 1.18 billones

Clientes del sector agrícola y rural

El banco atiende a 8.700 clientes del sector agrícola y rural en Argentina.

Segmento agrícola	Número de clientes	Préstamos agrícolas totales
Pequeños agricultores	5,200	ARS 34.5 mil millones
Grandes empresas agrícolas	3,500	ARS 62.7 mil millones

Grupo Supervielle S.A. (SUPV) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Según el informe financiero anual de 2022, Grupo Supervielle gastó ARS 3.200 millones en infraestructura tecnológica y mantenimiento de la plataforma digital.

Categoría de costos tecnológicos	Gasto anual (ARS)
Infraestructura	1,450,000,000
Mantenimiento de la plataforma digital	850,000,000
Sistemas de ciberseguridad	900,000,000

Salarios y beneficios de los empleados

En 2022, los gastos totales del personal alcanzaron los 24,7 mil millones de ARS.

• Salario mensual promedio por empleado: ARS 215,000
• Fuerza laboral total: 4.800 empleados
• Contribuciones del Seguro Social: ARS 3.6 mil millones

Gastos operativos de la red de sucursales

Los costos operativos para sucursales físicas ascendieron a AR de 5.600 millones en 2022.

Categoría de gastos de rama	Costo anual (ARS)
Alquiler y servicios públicos	2,100,000,000
Mantenimiento	1,450,000,000
Seguridad	2,050,000,000

Costos de marketing y adquisición de clientes

El gasto de marketing en 2022 fue de ARS 1.8 mil millones.

• Marketing digital: AR 750,000,000
• Publicidad tradicional: ARS 650,000,000
• Costo de adquisición de clientes: ARS 400,000,000

Cumplimiento regulatorio y gastos de gestión de riesgos

Los costos relacionados con el cumplimiento totalizaron ARS 2.3 mil millones en 2022.

Categoría de gastos de cumplimiento	Costo anual (ARS)
Aviso legal	850,000,000
Sistemas de gestión de riesgos	750,000,000
Informes regulatorios	700,000,000

Grupo Supervielle S.A. (SUPV) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

Para el año fiscal 2022, Grupo Supervielle informó ingresos por intereses de 129,370 millones de pesos argentinos de préstamos y productos de crédito.

Categoría de préstamo	Ingresos por intereses (millones de AR)
Préstamos comerciales	52,685
Préstamos al consumo	38,912
Préstamos hipotecarios	22,456
Préstamos agrícolas	15,317

Tarifas de servicio bancario

Las tarifas de servicio bancario generaron 43,256 millones de pesos argentinos en 2022.

• Tarifas de mantenimiento de la cuenta: 12,845 millones de ARS
• Tarifas de procesamiento de transacciones: 18,765 millones de ARS
• Tarifas de servicio de tarjeta de crédito: 11,646 millones de ARS

Comisiones de transacciones digitales

Las comisiones de transacciones digitales totalizaron 18,234 millones de pesos argentinos en 2022.

Canal digital	Ingresos de la Comisión (millones de AR)
Banca móvil	7,456
Transferencias en línea	6,789
Pagos digitales	3,989

Servicios de inversión y gestión de patrimonio

Los ingresos por servicios de inversión llegaron a 22,567 millones de pesos argentinos en 2022.

• Tarifas de gestión de activos: 9,876 millones de ARS
• Servicios de asesoramiento de inversiones: 7,345 millones de ARS
• Gestión de fondos mutuos: 5,346 millones de ARS

Ingresos de divisas y comerciales

Los ingresos por divisas y comerciales ascendieron a 35,412 millones de pesos argentinos en 2022.

Categoría de negociación	Ingresos (millones de AR)
Transacciones de divisas	21,567
Negociación de valores	13,845

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Grupo Supervielle S.A. over the competition in Argentina's tough market. The value proposition centers on offering stability, specialized access, and modern digital convenience across its universal financial services platform.

Universal financial services across banking, insurance, and wealth management

Grupo Supervielle S.A. positions itself as a universal financial services group, meaning you can handle most of your financial life in one place, from basic banking to more complex needs. This breadth is key to deepening customer relationships and capturing more wallet share.

The group's activities span the full spectrum, evidenced by specific financial reporting lines:

• Income from core banking services, including net financial margin.
• Reported Income from insurance activities in the consolidated results.
• Revenue streams supported by growing asset management fees.

Access to dollar-denominated deposits for stability in a volatile market

In an environment where local currency stability is a constant worry, offering dollar-denominated products is a major draw. Grupo Supervielle S.A. has aggressively grown this segment by offering remunerated accounts, which pay interest daily, to attract and retain these crucial dollar funds.

Here's the quick math on their success in attracting dollar funding as of the end of the third quarter of 2025:

Metric	Value (as of September 30, 2025)	Comparison
Foreign Currency Deposits (Total)	US$1.2 billion	N/A
FX Deposits Growth (QoQ)	30.9%	Outperformed industry growth of 10.1% QoQ
FX Deposits Growth (YoY)	55.8%	Outperformed industry growth of 8.1% YoY
FX Deposits as % of Total Deposits	34%	Up from 27% as of June 30, 2025

This focus on USD deposits provides a more stable funding base for the bank, especially when local currency liquidity is tight due to high reserve requirements.

Specialized credit solutions for corporate and SME growth (e.g., Oil & Gas)

Grupo Supervielle S.A. is strategically pivoting toward lending, offering specialized credit to drive corporate and Small and Medium Enterprise (SME) growth. They are clearly targeting sectors showing resilience or potential, like Oil & Gas.

The loan book expansion reflects this focus:

• Loan book increased by 8% quarter-over-quarter in Q3 2025.
• Corporate loans grew by 12% quarter-over-quarter in Q3 2025.
• Management projects real loan growth for the remainder of 2025 between 35-40%.
• SME checking account balances saw a surge of 43% in dollars in Q2 2025.

The bank is definitely positioning its credit offering to capture the anticipated recovery, expecting growth mainly from corporates and SMEs post-elections.

Digital-first experience through the evolving SuperApp platform

The digital ecosystem is a core differentiator, moving beyond a simple mobile app to a comprehensive SuperApp experience that drives daily engagement. They are integrating services where customers already spend time.

Digital traction metrics show this commitment:

• AI-powered WhatsApp interactions surpassed 150,000 in July 2025.
• The bank became the first to establish an official online store on Mercado Libre.
• Tienda Supervielle on Mercado Libre recorded 500,000 sessions by June 2025.
• Investment transactions via the app (powered by IOL) attracted 4,700 clients placing $28 million in time deposits in Q2 2025.

This digital integration helps reinforce primary banking relationships, so you're not just a transaction point.

Payroll and pension accounts for stable, lower-risk retail clients

Securing payroll and pension accounts is vital because these clients bring stable, lower-risk flows of funds, which is especially valuable when managing asset quality deterioration in the broader retail segment. Grupo Supervielle S.A. is uniquely offering daily interest on both Payroll and SME accounts, in both pesos and U.S. dollars, to lock in this client base.

The reliance on this segment for lending stability is clear:

Metric	Data Point (as of Q1 2025)	Significance
Loans to Payroll/Pension Clients	53% of total retail loan portfolio	Core retail lending base
Personal Loans to Payroll Customers	88% of personal loans granted	High concentration in the most stable retail segment
AR\$ Savings Account Growth (QoQ)	13%	Outpaced market by 3.5 percentage points in Q2 2025

This focus on high-quality retail flows helps mitigate the rising NPL ratio, which hit 3.9% in Q3 2025, up from 0.8% in Q3 2024.

Finance: draft 13-week cash view by Friday.

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Customer Relationships

You're looking at how Grupo Supervielle S.A. (SUPV) connects with and serves its customer base as of late 2025. It's a blend of traditional, in-person support and aggressive digital moves, all aimed at locking in primary banking relationships in a tough economic climate.

The firm's approach to customer relationships is built around targeted segmentation and digital convenience, while still leaning on its physical footprint for high-value interactions. This is evident in the introduction of a cluster-based strategy in the first quarter of 2025, designed to sharpen the value proposition for both retail and commercial customers to gain principality with them and attract new ones.

For complex needs, you still have the physical network. Grupo Supervielle S.A. maintains a high-touch service model through its 130 bank branches, which are primarily located in the Autonomous City of Buenos Aires, Greater Buenos Aires, and the Argentine provinces of Mendoza and San Luis. This physical presence supports the 1.9 million active clients served by the network as of August 2025.

The push for digital self-service is centered on the SuperApp, which is key to their ecosystem strategy. A major milestone in this journey was the launch of Tienda Supervielle on Mercado Libre in the first quarter of 2025, making them the first bank to host an official online store on that platform, fully accessible through the mobile app. This is part of broader Super App fintech initiatives aimed at deepening funding and fee income.

A significant driver for deepening primary banking relationships is the innovative remunerated account offering. Supervielle is the only bank in Argentina offering daily interest on both Payroll and SME accounts, available in both pesos and U.S. dollars, which started in April 2025. This strategy is showing traction, helping to attract dollar-denominated deposits. The success is clear in the growth of foreign currency deposits, which reached 34% of total deposits at the end of the third quarter of 2025, up from 27% at the end of the second quarter of 2025.

For the corporate segment, the relationship model remains more traditional but is showing strong results. Growth in the third quarter of 2025 was led by the corporate segment, with corporate loans expanding by 12% quarter-over-quarter. This suggests dedicated corporate banking relationship managers are effectively driving origination in that area, even as retail origination standards were tightened.

Here's a quick look at some key relationship and network metrics as of mid-to-late 2025:

Metric Category	Specific Metric	Value as of Late 2025
Physical Reach	Bank Branches	130
Client Base	Active Clients (as of Aug 2025)	1.9 million
Digital Engagement	Supervielle on Mercado Libre Launch	Q1 2025
Deposit Strategy	Remunerated Account Launch	April 2025
Funding Mix	FX Deposits as % of Total Deposits (Q3-end 2025)	34%
Corporate Banking	Corporate Loan QoQ Growth (Q3 2025)	12%

The firm is actively managing its customer base through these distinct channels. You can see the focus on retaining and growing high-value deposits through the remunerated accounts, which is a direct relationship play.

• Cluster-based strategy introduced to strengthen value proposition across retail and commercial segments.
• Remunerated accounts offer daily interest on both peso and U.S. dollar accounts for Payroll and SME customers.
• The bank is the only one in Argentina offering daily interest on both peso and U.S. dollar remunerated accounts for Payroll and SME clients.
• Digital ecosystem expansion includes the Super App and the Tienda Supervielle presence on Mercado Libre.
• Corporate segment led loan growth in Q3 2025.

The operational control over costs also reflects a relationship focus, as personnel and administrative expenses declined 12% year-to-date in real terms as of Q3 2025. That's defintely a sign of efficiency supporting the service model.

Finance: draft 13-week cash view by Friday.

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Channels

You're looking at how Grupo Supervielle S.A. gets its value propositions to the customer base across Argentina. It's a mix of old-school presence and aggressive digital adoption, which is key in this market.

The physical footprint remains significant, anchoring the service network. As of late 2025 reporting periods, Grupo Supervielle S.A. maintains a core physical branch network of 130 locations across Argentina. This is supplemented by recent expansion, with reports in November 2025 noting the network also includes 2 branch annexes, such as the one opened in Añelo, Province of Neuquén, to support the Oil & Gas industry. The overall network, including digital and commercial partnerships, serves approximately 1.9 million active clients as of the third quarter of 2025.

Digital channels are clearly where the growth story is focused. The SuperApp and online banking platforms are central to the strategy of enabling anywhere banking. The digital customer base saw strong penetration, with 881,507 customers being digital as of June 30, 2025, which represented 67% of the segment's portfolio at that time. This digital push is supported by modern engagement tools.

Here's a quick look at the digital reach metrics we have for mid-to-late 2025:

• Digital customers as of June 30, 2025: 881,507
• Digital penetration of segment portfolio (June 30, 2025): 67%
• AI-powered WhatsApp interactions (July 2025): Over 150,000 sessions
• Clients using IOL via the bank's app for time deposits (Q2 2025): 4,700

For investment services, the platform IOL invertironline, which is positioned as the broker N.º 1 in Argentina, is integrated directly. This allows for cross-selling investment products through the main banking application. The investment activity through the bank's app shows tangible results in funding.

IOL Investment Channel Metric	Value	Context/Date
Clients placing time deposits via bank app	4,700	Q2 2025
Time deposits placed via bank app	$28 million	Q2 2025
Percentage of those deposits that were new	30%	Q2 2025
IOL customers (Total)	24K	Data point from an earlier slide snapshot
IOL customers (Total)	544K	Data point from a later slide snapshot

Virtual branches and call centers provide the necessary remote service layer to support the high volume of digital interactions. This complements the physical network, especially for complex transactions or customer support when digital self-service isn't enough. The company continues to invest in scaling the SuperApp, which is the hub for many of these remote services.

Finally, commercial partnerships are vital for extending reach, particularly in specialized financing areas. This includes the subsidiary MILA, which specializes in car loan financing. Furthermore, strategic alliances support lending capacity, such as the agreement announced in September 2025 with IDB Invest and others to boost SME financing with a credit line of up to US$250 million. This partnership is structured with Tranche A totaling US$100 million (US$50 million from IDB Invest and US$50 million from the JICA Trust Fund) and Tranche B for approximately US$150 million via loan participations.

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Customer Segments

You're looking at the client base for Grupo Supervielle S.A. as of late 2025; it's a mix of corporate, retail, and investment-focused groups, all served across their integrated platforms.

The overall client reach for Grupo Supervielle S.A. was reported at 2 million active clients as of April 2025.

The breakdown of the core banking and digital investment client base as of June 30, 2025, looks like this:

Segment Category	Specific Metric	Number/Amount (as of 2Q25/3Q25)
Banco Supervielle Clients	Bank Total Customers	1.3 million
IOL invertironline Clients	Active Customers	544K customers
Total Ecosystem Clients (Reported)	Total Active Clients (April 2025)	2 million

Corporate and SME clients are a key focus for near-term loan growth, especially following the midterm elections.

• Loan growth in 4Q25 and early 2026 is anticipated to come mainly from corporates and SMEs.
• Specific sector focus includes the oil and gas chain.
• Grupo Supervielle S.A. opened a branch annex in Añelo, Province of Neuquén, to support the Oil & Gas industry development.
• A branch was also opened where the mining ecosystem in San Juan is located.
• The company announced an agreement with IDB Invest for a credit line of up to US$250 million to boost SME lending.

For retail individuals, Grupo Supervielle S.A. targets deepening primary banking relationships.

• The strategy involves expanding the remunerated accounts offering to the entire IOL ecosystem, which currently includes payroll clients.
• Retail loan growth is expected to resume later, picking up in 2Q26 as conditions improve.

High-net-worth individuals are served through wealth management services, though specific client counts weren't detailed in the latest reports, the Assets Under Management (SAM) for IOL was reported at AR$2,378.9 billion in nominal terms for 2Q25.

Institutional investors are targeted for funding and treasury products, which is a critical component for balance sheet leverage.

• Grupo Supervielle S.A. will tap international debt markets if conditions allow.
• The bank secured facilities up to ARS270 million from multilaterals with a three-year term, focused on SMEs.
• Banco Supervielle S.A. issued an Obligación Negociable (ON) with a minimum subscription of USD 1,200.
• This specific ON offered an estimated annual rate of 5.00% in USD, with capital and interest paid at maturity in November 2025.

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Cost Structure

You're looking at the cost side of Grupo Supervielle S.A. (SUPV)'s operations as of late 2025, and honestly, the numbers from the third quarter tell a story of significant pressure, especially from funding and credit risk.

The cost of funding was a major headwind. The monetary tightening implemented to stabilize the exchange rate resulted in unsustainably high real interest rates. This dynamic meant that deposit rates adjusted almost immediately, but loan repricing lagged because of longer duration. This funding cost pressure was quantified by an impact of AR$56.1 billion in the third quarter alone. Furthermore, the mortgage loan portfolio, denominated in UVA (Unit of Constant Value), was negatively affected by the sharp increase in real interest rates, leading to a negative spread that caused an additional reduction in the net financial margin of around AR$17.7 billion in 3Q25.

Credit quality costs also rose substantially. Loan Loss Provisions (LLPs) totaled AR$58.3 billion in 3Q25. This represented a significant increase, up 23.8% quarter-over-quarter and 330.1% year-over-year, reflecting the continued expansion of the loan book since March 2024, particularly in retail lending which carries higher provisioning requirements. The Non-Performing Loan (NPL) ratio reflected this stress, rising to 3.9% in 3Q25, up from 2.7% in 2Q25 and 0.8% in 3Q24. The net cost of risk for the quarter was reported at 6.4%.

Personnel and administrative expenses show a commitment to operational efficiency, though this was partially offset by other cost drivers. The company is targeting a decline in these expenses in real terms of 8% to 10% for the full year 2025. In 3Q25 specifically, personnel, administrative expenses, and Depreciation & Amortization (D&A) saw a 1.3% reduction quarter-over-quarter. Overall operating expenses declined 2% quarter-on-quarter and 12% year-to-date in real terms.

The pressure on the top line, with the net financial margin falling to AR$125.0 billion in 3Q25 (down 41.0% year-over-year), directly impacted the efficiency ratio. The efficiency ratio for 3Q25 stood at 95.8%, a sharp deterioration from 60.9% in 2Q25 and 64.1% in 3Q24. For the nine-month period ending 3Q25, the efficiency ratio was 68.8%.

Regarding technology and digital transformation investment costs, while specific figures aren't broken out in the immediate summary data, the management commentary emphasized maintaining a tight control on costs, including non-staff expenses, and reinforcing the focus on operational efficiencies to help mitigate the margin compression. This suggests a disciplined approach to ongoing technology investments.

Here's a quick look at the key cost and efficiency metrics from 3Q25:

Metric	Value (3Q25)	Comparison Point	Change/Context
Loan Loss Provisions (LLPs)	AR$58.3 billion	N/A	Up 330.1% YoY
Efficiency Ratio	95.8%	60.9% (2Q25)	Signaling cost pressure
Personnel & Admin Expense Target	Decline of 8% to 10%	Real terms (Full Year 2025)	Reflects structural initiatives
Funding Cost Impact	AR$56.1 billion	3Q25 only	Due to high real interest rates
NPL Ratio	3.9%	0.8% (3Q24)	In line with retail delinquency trends
Net Financial Margin	AR$125.0 billion	AR$212.0 billion (3Q24)	Down 41.0% YoY

The cost structure is clearly dominated by the cost of risk and the high cost of funding in the prevailing macroeconomic setting. You can see the impact across several areas:

• High cost of funding due to elevated real interest rates in 2025.
• Loan Loss Provisions (LLPs) totaling AR$58.3 billion in 3Q25.
• Personnel and administrative expenses, targeted to decline 8% to 10% in real terms.
• Technology and digital transformation investment costs managed under a tight control framework.
• High efficiency ratio of 95.8% in 3Q25, signaling cost pressure.

Finance: draft 13-week cash view by Friday.

Grupo Supervielle S.A. (SUPV) - Canvas Business Model: Revenue Streams

You're looking at how Grupo Supervielle S.A. brings in money, which is critical given the volatile Argentine economic backdrop we saw through the third quarter of 2025. The revenue streams are heavily weighted toward traditional banking activities, but the performance of each component shifted quite a bit due to monetary policy.

The core of the income generation remains the spread on lending and deposit activities, though the environment in 3Q25 put significant pressure on this. For instance, the Net Financial Margin (NFI) for the third quarter of 2025 was reported at AR$125.0 billion, which was a sequential decrease from AR$219.8 billion in 2Q25. This squeeze was largely due to higher funding costs adjusting almost immediately to high interest rates while loan repricing lagged, plus a negative spread impact of around AR$17.7 billion from the UVA mortgage portfolio.

Still, the underlying business activity shows some growth drivers. The loan portfolio expanded by 8% in real terms as of 3Q25. Client-related net financial income, which covers interest income from your lending book, actually rose 17% sequentially in the third quarter.

Here's a quick look at the key financial figures related to revenue generation as of the latest reporting:

Revenue Component	Metric/Period	Amount/Value
Net Financial Income (NFI)	3Q25	AR$125.0 billion
Adjusted Net Financial Income	3Q25	AR$95.8 billion
Net Interest Margin (NIM)	3Q25	10.8%
Net Fee Income Growth Forecast	Full Year 2025 (Real Terms)	5%
Loan Portfolio Growth	3Q25 (Real Terms)	8%

Beyond the core interest margin, Grupo Supervielle S.A. relies on fees and trading gains. The projection for Net Fee Income growth for the full year 2025 is set at 5% in real terms. This fee income is supported by several activities:

• Interest income from personal, secured, and commercial loans, which contributed to the 17% sequential rise in client-related net financial income.
• Commission income from insurance and brokerage services, with the IOL segment posting record results in October 2025.
• Gains from treasury portfolio and government securities trading, though yields were noted as lower in 3Q25 context compared to prior periods that saw extraordinary gains.

To be defintely clear, the nine-month performance for 9M25 showed a net loss of AR$26.9 billion, contrasting sharply with the net income of ARS 118,304.4 million in 9M24. Finance: draft 13-week cash view by Friday.