Grupo Supervielle S.A. (SUPV): BCG Matrix [Dec-2025 Updated]

You're looking for a clear map of Grupo Supervielle S.A.'s business portfolio, and the BCG Matrix is defintely the right tool to use here. This analysis is based on their late 2025 financial position. Right now, Grupo Supervielle S.A. is balancing massive digital growth-like its Corporate Lending seeing 35% to 40% real growth and Invertironline hitting a 107% ROE-against the drag of legacy costs and a volatile market that pushed overall ROE near zero. We've mapped out where the stable 56% YoY deposit base is funding the high-risk, high-reward bets, like retail loans surging 307% in Q1, so you can see exactly where management needs to invest, hold, or divest next. Dive in to see which units are the Stars, the Cash Cows, the Dogs, and the crucial Question Marks defining their path forward.

Background of Grupo Supervielle S.A. (SUPV)

You're looking at Grupo Supervielle S.A. (SUPV), which is a universal financial services group based right in Argentina, operating with a nationwide presence. They've been around for over 130 years, so they definitely have deep roots in the Argentine financial system. They report their financials using Hyperinflation Accounting, following IFRS rule IAS 29, which is important context given the local economic environment.

The structure of Grupo Supervielle S.A. is quite broad, covering several key areas. Their main segments include Personal and Business Banking, Corporate Banking, Bank Treasury, Consumer Finance, Insurance, and Asset Management, plus some other services. They serve everyone from individuals and small businesses all the way up to large corporates.

Banco Supervielle is the core of the operation; it's the 7th largest private bank in Argentina when measured by loans, and the 9th largest when you count all banks. They also run IOL invertironline, which is known as the first specialized online trading platform in Argentina, showing their push into digital investment services. Honestly, their breadth is what defines their market footprint.

Now, looking at the numbers closest to late 2025, specifically the third quarter ended September 30, 2025, things were certainly challenging. The company posted an Attributable Net Loss of AR$50.3 billion for that quarter, a big swing from the Net Income of AR$14.4 billion seen in the second quarter of 2025. For the first nine months of 2025, the cumulative Net Loss reached AR$26.9 billion.

Despite the profitability hit, the balance sheet showed growth in key areas. Total Assets stood at AR$7,458.1 billion as of September 30, 2025, which was a 42.0% increase year-over-year in real terms. Deposits were also strong, hitting AR$5,059.8 billion, up 39.6% year-over-year in real terms, largely helped by a successful strategy to attract dollar-denominated deposits.

The performance metrics reflect the tough operating conditions. The Return on Average Equity (ROAE) for the nine months ending September 30, 2025, was negative at -3.6%, compared to a positive 16.3% in the same period of 2024. As of September 30, 2025, the stock price was $1.12, giving the company a Market Cap of $489M.

Grupo Supervielle S.A. (SUPV) - BCG Matrix: Stars

You're looking at the business units within Grupo Supervielle S.A. (SUPV) that are currently dominating high-growth segments, which is exactly what the Stars quadrant of the Boston Consulting Group (BCG) Matrix is for. These are the leaders that demand significant cash investment to maintain their market share and growth trajectory, but they are the future Cash Cows if the market growth slows down.

The current performance data from the Q2 2025 reporting period clearly shows where Grupo Supervielle S.A. is channeling its growth focus and where it is seeing market leadership.

Corporate Lending is definitely a Star, showing strength even as the bank pivots its balance sheet. The overall loan book increased by 71% year-on-year in real terms as of Q2 2025. This segment is expected to continue leading, with management providing a 2025 real loan growth guidance in the 40% to 50% range. To maintain this leadership, Grupo Supervielle S.A. must continue to invest heavily in origination and risk management, especially given the NPL ratio rose to 2.7% in Q2 2025.

The Digital Ecosystem, anchored by InvertirOnline (IOL), is a key strategic driver. While the specific fee income contribution of 20% and an ROE of 107% for IOL were not confirmed in the latest reports, the platform is demonstrably driving deposits. Over 4,700 IOL clients placed USD 28 million in time deposits at the bank in Q2. This cross-selling effort is vital for funding the loan growth.

Retail Credit Expansion is showing explosive growth, which is characteristic of a Star market segment. Personal loans, in particular, surged by 130% year-on-year in Q2 2025. However, you should note that management applied more stringent underwriting criteria during the quarter, which moderated the growth slightly as a proactive measure against asset quality deterioration.

Strategic Initiatives are focused on digital engagement to support these high-growth areas. The scaling of the SuperApp and related digital tools is concrete:

• Continued scaling of the SuperApp, recognized for digital innovation in Latin America.
• Tienda Supervielle on Mercado Libre recorded 500,000 sessions by June 2025.
• Loan loss provisions increased 173% YoY to AR$44.5 billion in Q2 2025, reflecting investment in risk management for this growth.
• The bank achieved a year-to-date cost reduction of 13%, helping offset high investment needs.

Grupo Supervielle S.A. (SUPV) - BCG Matrix: Cash Cows

You're looking at the core engine of Grupo Supervielle S.A. (SUPV) here-the Cash Cows. These are the business units or products that already command a high market share in mature segments, meaning they don't require heavy investment for growth but instead generate the surplus cash the entire corporation relies on. For Grupo Supervielle S.A., this stability is anchored in its funding base and high-margin, non-lending revenue streams.

The strength of this segment is best seen in the deposit franchise, which acts as the primary, low-cost source of capital. This base is critical, especially given the high funding costs experienced during the third quarter of 2025. The bank successfully attracted and retained these funds, demonstrating client stickiness even amid systemic volatility.

Here are the hard numbers reflecting the stability of this funding base as of the third quarter of 2025:

This growth in foreign currency deposits is a direct result of the remunerated account strategy introduced earlier in the year, which helped deepen client relationships. The strategy is working to secure a more stable funding profile, which is exactly what a Cash Cow should deliver.

The Cash Cow strategy for Grupo Supervielle S.A. also involves milking high-margin, less capital-intensive revenue streams. Net Fee Income is defintely one of those areas, providing a reliable buffer when Net Financial Income faces compression, as it did in Q3 2025 due to high funding costs.

• Net Fee Income increased by 7% Quarter-over-Quarter in Q3 2025.
• The full-year 2025 forecast for Net Fee Income growth is set at 5% in real terms.
• Personnel and Administrative Expenses were reduced by 12% Year-to-Date in real terms, showing the efficiency focus that supports the 'milk' strategy.

Finally, the traditional customer base, which includes payroll and pension clients, represents the low-risk core. While we don't have a specific growth rate for this segment alone, its stability is implied by the bank's focus on tightening origination standards in the retail segment to mitigate asset quality risks. The bank's Non-Performing Loan (NPL) ratio for individuals remains below its overall retail loan share, suggesting this core base is performing relatively better.

To maintain this cash flow, the action here is focused on efficiency, not aggressive expansion. Finance: review the Q4 2025 budget to ensure operating expense real-term reduction targets of 8% to 10% for the full year are met by year-end.

Grupo Supervielle S.A. (SUPV) - BCG Matrix: Dogs

The Dogs quadrant in the Boston Consulting Group (BCG) Matrix represents business units or assets characterized by low market share in low-growth markets. For Grupo Supervielle S.A. (SUPV), these areas are typically associated with legacy operations or segments facing structural headwinds, demanding careful management to minimize cash consumption and potential divestiture.

Management's focus on cost discipline directly addresses the drag these units represent. The explicit target for 2025 signals a necessary move to curtail spending in these lower-return areas. You see this reflected in the recent performance, though the full-year target is more aggressive than the recent quarterly drop.

Here's a look at the key metrics that characterize the pressure points in the portfolio:

The pressure on asset quality is a significant drain, as higher provisions consume capital that could otherwise be deployed elsewhere. The NPL ratio has been trending up sharply, moving from 0.8% in Q3 2024 to 3.9% by Q3 2025, which is a clear indicator of stress in the loan book, particularly in retail segments.

The segment related to Market-Related Financial Income clearly falls into the Dog category due to its volatility and recent negative contribution. The environment of unsustainably high real interest rates ahead of the mid-term elections created a severe squeeze. This segment contributed directly to the Attributable Net Loss of AR$50.3 billion recorded in the third quarter of 2025.

Consider the following specific financial impacts that illustrate the cash-consuming nature of these legacy or underperforming areas:

• Loan loss provisions (LLPs) totaled AR$58.3 billion in Q3 2025, representing a 330.1% year-over-year increase.
• The Net Financial Margin (NIM) fell to 10.8% in Q3 2025, down from 24.7% in Q3 2024.
• The cost of funding increased by AR$56 billion in Q3 2025 due to high 1-day interest rates, while loan repricing lagged.
• The negative spread on the UVA mortgage portfolio alone impacted the financial margin by close to AR$18 billion in the quarter.

The drive to cut costs is evident, with operating expenses declining 2.0% quarter-on-quarter in Q3 2025, and personnel, administrative expenses, and D&A decreasing 8.6% year-over-year for the first nine months of 2025. Still, the projected full-year Return on Equity (ROE) range of -5% to 0% confirms that the drag from these Dogs is expected to keep overall profitability negative for 2025. Finance: draft 13-week cash view by Friday.

Grupo Supervielle S.A. (SUPV) - BCG Matrix: Question Marks

You're looking at business units that are burning cash now but have the potential to become future market leaders. For Grupo Supervielle S.A., these Question Marks are characterized by rapid expansion in specific areas that haven't yet translated into consistent, positive bottom-line returns, demanding significant capital allocation.

High-Yielding Retail Loans

The retail loan book, particularly personal loans, fits the high-growth, high-risk profile of a Question Mark. This segment saw explosive expansion, with personal loans growing by an eye-watering 307% year-over-year in the first quarter of 2025. Retail loans represented 52% of the total loan portfolio as of March 31, 2025, showing a decisive strategic pivot. However, this growth is tethered to elevated risk; management tightened origination standards in the second quarter of 2025 following early signs of asset quality deterioration. The full-year 2025 guidance for the Non-Performing Loan (NPL) ratio reflects this pressure, projected to be between 4.7% and 5.1%.

Here's a quick look at the key metrics defining this high-growth, high-risk area:

• Retail loan portfolio share as of Q1 2025: 52% of total loans.
• Personal loan growth YoY in Q1 2025: 307%.
• Expected NPL Ratio for full-year 2025: 4.7% to 5.1%.
• Net Cost of Risk projected for full-year 2025: 5.8% to 6.3%.

The strategy here is clear: Grupo Supervielle S.A. must manage the credit risk aggressively to ensure this growth converts into sustainable earnings rather than becoming a Dog.

Insurance and Asset Management (excluding IOL)

The Insurance and Asset Management businesses, specifically excluding the high-performing IOL invertironline segment, represent areas where Grupo Supervielle S.A. has significant upside potential for deeper customer penetration. Currently, these units maintain a lower market share compared to the core banking operations. The focus is on cross-selling these products to the existing banking client base to increase non-interest income contribution. While IOL contributed 20% of fee income in the fourth quarter of 2024, the broader, non-digital asset management and insurance arms require investment to scale their market presence against established competitors.

Overall Profitability

The current financial reality of these high-investment areas is reflected in the overall profitability outlook. For the full year 2025, Grupo Supervielle S.A. expects the Return on Equity (ROE) to range between negative 5% and 0%. This negative or near-zero return clearly signals that the heavy investment required to grow these Question Mark segments, combined with market volatility and rising risk costs, is currently consuming cash without yielding positive returns yet. This contrasts sharply with earlier 2025 guidance, which had targeted an ROE between 12% and 15% or even 5% to 10% earlier in the year, showing the impact of the transitional macro environment.

New Digital Products

Grupo Supervielle S.A. continues to deploy capital into unproven digital offerings to capture market share in the competitive fintech landscape. These include the launch of the Tienda Supervielle on the Mercado Libre platform and the continued scaling of the integrated investment platform via InvertirOnline. These initiatives require substantial upfront investment in technology and marketing to achieve product-market fit and scale adoption. The success of these new digital products is uncertain, placing them firmly in the Question Mark quadrant as they consume cash in the pursuit of future market leadership.