GRUPO SUPERIELLE S.A. (SUPV): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico do setor bancário argentino, o Grupo Superelle S.A. surge como uma potência de inovação financeira, navegando estrategicamente no complexo terreno de transformação digital e serviços centrados no cliente. Ao misturar perfeitamente a experiência bancária tradicional com soluções tecnológicas de ponta, o banco criou um modelo de negócios exclusivo que não apenas atende às diversas necessidades financeiras de indivíduos e empresas, mas também se posiciona como uma instituição de visão de futuro no ecossistema financeiro competitivo da Argentina. De experiências digitais personalizadas a soluções financeiras abrangentes, a abordagem do Grupo Superelle representa uma narrativa atraente de adaptabilidade, proezas tecnológicas e profundo entendimento do mercado local.

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com empresas de tecnologia financeira local e internacional

O Grupo Superrielle estabeleceu parcerias estratégicas com as seguintes empresas de fintech:

Parceiro	Foco em parceria	Ano estabelecido
Ualá	Soluções bancárias digitais	2019
Mercado Pago	Integração de pagamento móvel	2017

Parcerias com bancos argentinos e instituições financeiras

Superelle mantém relações colaborativas com várias instituições financeiras:

• Banco Nación
• Banco Ciudad
• Banco Provincia

Colaboração com plataformas de pagamento digital

As parcerias da plataforma de pagamento digital incluem:

Plataforma	Volume da transação (2023)	Tipo de parceria
Mercado Pago	Ars 127 bilhões	Processamento de pagamento
Naranja x	Ars 89 bilhões	Integração da carteira digital

Relacionamentos com fornecedores de tecnologia e provedores de software

Principais parcerias de tecnologia:

• Microsoft Azure - Infraestrutura em nuvem
• IBM - Enterprise Software Solutions
• SAP - Planejamento de recursos corporativos

Investimento total de parceria em 2023: ARS 215 milhões

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: Atividades -chave

Fornecendo serviços bancários e financeiros na Argentina

A partir de 2023, o Grupo Superelle opera 266 filiais em toda a Argentina, com foco nos serviços bancários regionais. O banco atende a aproximadamente 2,5 milhões de clientes e mantém uma base total de ativos de 1,3 trilhão de pesos argentinos.

Categoria de serviço	Penetração de mercado	Volume anual de transações
Bancos pessoais	42% de participação de mercado no segmento de PME	186 milhões de transações
Banco corporativo	27% de clientes corporativos do mercado intermediário	94 milhões de transações

Desenvolvimento e manutenção da plataforma bancária digital

A Superrielle investiu 580 milhões de pesos em infraestrutura digital em 2023, apoiando:

• Aplicativo bancário móvel com 1,2 milhão de usuários ativos
• Capacidade de processamento de transações on -line de 98,6% de tempo de atividade
• Sistemas de pagamento digital em tempo real

Gerenciamento de riscos e avaliação de crédito

Métricas de gerenciamento de risco de crédito para 2023:

Métrica de risco	Percentagem
Taxa de empréstimo sem desempenho	3.7%
Cobertura de provisão de perda de empréstimo	127%

Atendimento ao cliente e inovação de produtos financeiros

Em 2023, a Superrielle lançou 14 novos produtos financeiros com Abordagem digital primeiro, direcionando segmentos de mercado específicos.

• Produtos de crédito somente digital
• Pacotes de investimento personalizados
• Soluções de micro empréstimo para empreendedores

Serviços de investimento e gerenciamento de patrimônio

Desempenho da divisão de gerenciamento de patrimônio em 2023:

Segmento de serviço	Total de ativos sob gestão	Crescimento anual
Indivíduos de alto patrimônio líquido	268 bilhões de pesos	14.3%
Investidores institucionais	412 bilhões de pesos	11.7%

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: Recursos -chave

Extensa rede de filiais

A partir de 2023, o Grupo Superelle opera 272 filiais na Argentina, com uma presença significativa nas principais áreas e províncias metropolitanas.

Distribuição geográfica	Número de ramificações
Província de Buenos Aires	156
Outras províncias argentinas	116

Infraestrutura de tecnologia bancária digital

A plataforma digital do banco suporta:

• Aplicativo bancário móvel com 1,2 milhão de usuários ativos
• Plataforma bancária online com 98,5% de tempo de atividade
• Recursos de processamento de transações em tempo real

Capital financeiro e liquidez

Métrica financeira	Valor (2023)
Total de ativos	ARS 1.458.695 milhões
Equidade dos acionistas	ARS 237.456 milhões
Razão de ativos líquidos	24.6%

Força de trabalho qualificada

Total de funcionários: 4.987 em dezembro de 2023

• Posse média dos funcionários: 8,3 anos
• Funcionários com certificações financeiras avançadas: 62%

Banco de dados de clientes e sistemas de informação

Segmento de clientes	Número de clientes
Total de clientes	2,3 milhões
Clientes bancários corporativos	18,500
Clientes bancários individuais	2,281,500

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: proposições de valor

Soluções financeiras abrangentes para indivíduos e empresas

O Grupo Superrielle oferece uma gama diversificada de produtos financeiros com as seguintes métricas principais:

Categoria de produto	Valor total do portfólio	Penetração de mercado
Bancos pessoais	Ars 180,5 bilhões	37,2% de participação de mercado na Argentina
Banking de negócios	ARS 215,3 bilhões	29,8% de cobertura do mercado de PME
Banco corporativo	Ars 95,7 bilhões	22,6% de grande segmento corporativo

Experiências bancárias digitais inovadoras

Indicadores de desempenho bancário digital:

• Usuários bancários móveis: 1,2 milhão
• Volume de transações online: 68% do total de transações
• Taxa de engajamento da plataforma digital: 73,4%

Produtos e serviços financeiros personalizados

Tipo de produto	Nível de personalização	Adoção anual do cliente
Empréstimos pessoais	Alta personalização	42.500 novos clientes
Portfólios de investimento	Perfis de risco personalizados	28.300 novas contas de investimento
Produtos de seguro	Ofertas segmentadas	19.700 novos detentores de políticas

Taxas de juros competitivas e baixas taxas de transação

Métricas de competitividade financeira:

• Taxa média de juros de empréstimo pessoal: 48,5% ao ano
• Taxa de juros da conta média de poupança: 35,2% ao ano
• Taxa de transação Média: 0,75% do valor da transação

Experiência no mercado local e abordagem centrada no cliente

Segmento de clientes	Total de clientes	Taxa de satisfação do cliente
Clientes individuais	2,4 milhões	86.7%
Clientes comerciais	185,000	91.3%
Clientes corporativos	12,500	93.2%

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: Relacionamentos do cliente

Suporte de cliente digital e pessoal personalizado

O Grupo Superrielle oferece suporte ao cliente multicanal com 72 locais de filiais físicas na Argentina a partir de 2023. Os canais de suporte digital incluem:

• 24/7 de atendimento ao cliente online
• Suporte a aplicativos móveis
• Centro bancário telefônico

Canal de suporte	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte digital	12 minutos	87.3%
Apoio pessoal	18 minutos	92.1%

Plataformas bancárias móveis e online

Métricas de plataforma digital:

• Usuários bancários móveis: 1,2 milhão
• Transações bancárias online: 4,3 milhões mensais
• Volume da transação da plataforma digital: Ars 156 bilhões anualmente

Programas de fidelidade do cliente

Nome do programa	Inscrição	Benefícios anuais
SUPERIELLE RECONTES	385.000 membros	Ars 12,5 milhões

Serviços de Consultoria Financeira regular

Superelle fornece consultas financeiras personalizadas por meio de:

• Gerentes de relacionamento dedicados
• Exames de saúde financeira trimestrais
• Recomendações de investimento personalizado

Estratégias de comunicação e engajamento personalizadas

Canal de comunicação	Taxa de engajamento	Alcance anual
Campanhas de e -mail	42.6%	1,8 milhão de clientes
Interações de mídia social	35.2%	650.000 seguidores

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: canais

Agências bancárias físicas

A partir de 2023, o Grupo Superelle opera 266 agências bancárias físicas em toda a Argentina.

Categoria de ramificação	Número de ramificações	Distribuição geográfica
Ramos urbanos	198	Área Metropolitana de Buenos Aires
Ramos provinciais	68	Outras províncias argentinas

Aplicativo bancário móvel

O aplicativo Banking Mobile Banking da Superrielle tem 1,2 milhão de usuários ativos em dezembro de 2023.

• Estatísticas de download de aplicativos: 2,4 milhões de downloads totais
• Transações mensais médias: 875.000
• Valor da transação bancária móvel: Ars 127 bilhões anualmente

Site bancário online

A plataforma bancária on -line atende 1,5 milhão de usuários registrados em 2023.

Métricas da plataforma da web	2023 dados
Usuários ativos mensais	980,000
Volume anual de transações	ARS 215 bilhões

Rede ATM

O Grupo Superelle mantém 432 caixas eletrônicos em toda a Argentina.

• Locais ATM: principalmente em Buenos Aires e grandes cidades provinciais
• Transações mensais de atm: 1,3 milhão
• Valor médio da transação: ARS 15.500

Centros de atendimento ao cliente

O Banco opera três centros de atendimento ao cliente centralizado.

Métricas de call center	2023 desempenho
Volume total de chamadas	2,1 milhões de ligações
Tempo médio de resposta	47 segundos
Taxa de satisfação do cliente	88.5%

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: segmentos de clientes

Clientes bancários de varejo individuais

A partir de 2024, o Grupo Superelle atende a aproximadamente 1,2 milhão de clientes bancários de varejo individuais na Argentina.

Quebra de segmento de clientes	Número de clientes	Quota de mercado
Contas de corrente pessoal	680,000	4.3%
Contas de poupança pessoal	520,000	3.9%

Pequenas e médias empresas

O Grupo Superelle suporta 45.000 empresas pequenas e médias (PMEs) em toda a Argentina.

• Portfólio total de empréstimos para PME: Ars 127,5 bilhões
• Tamanho médio do empréstimo: ARS 2,8 milhões
• O segmento de PME representa 22% da carteira total de empréstimos do banco

Clientes bancários corporativos

O banco atende 1.850 clientes bancários corporativos com soluções financeiras especializadas.

Categorias de segmento corporativo	Número de clientes	Empréstimos corporativos totais
Grandes corporações	350	Ars 85,6 bilhões
Corporações de tamanho médio	1,500	Ars 42,3 bilhões

Indivíduos de alta rede

O Grupo Superrielle gerencia serviços bancários privados para 12.500 indivíduos de alta rede.

• Valor médio do portfólio: ARS 95 milhões por cliente
• Total de ativos sob gestão: Ars 1,18 trilhão

Clientes do setor agrícola e rural

O banco atende a 8.700 clientes do setor agrícola e rural em toda a Argentina.

Segmento agrícola	Número de clientes	Empréstimos agrícolas totais
Pequenos agricultores	5,200	Ars 34,5 bilhões
Grandes empresas agrícolas	3,500	Ars 62,7 bilhões

Grupo Superelle S.A. (SUPV) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

De acordo com o Relatório Financeiro Anual de 2022, o Grupo Superelle gastou 3,2 bilhões de ARS em infraestrutura de tecnologia e manutenção da plataforma digital.

Categoria de custo de tecnologia	Despesas anuais (ARs)
Infraestrutura de TI	1,450,000,000
Manutenção da plataforma digital	850,000,000
Sistemas de segurança cibernética	900,000,000

Salários e benefícios dos funcionários

Em 2022, o total de despesas de pessoal atingiu o ARS 24,7 bilhões.

• Salário médio mensal por funcionário: ARS 215.000
• Força de trabalho total: 4.800 funcionários
• Contribuições do Seguro Social: Ars 3,6 bilhões

Despesas operacionais da rede de filiais

Os custos operacionais para filiais físicos totalizaram 5,6 bilhões de ARs em 2022.

Categoria de despesa de ramificação	Custo anual (ARS)
Aluguel e utilitários	2,100,000,000
Manutenção	1,450,000,000
Segurança	2,050,000,000

Custos de marketing e aquisição de clientes

As despesas de marketing em 2022 foram de 1,8 bilhão.

• Marketing Digital: ARS 750.000.000
• Publicidade tradicional: ARS 650.000.000
• Custo de aquisição de clientes: ARS 400.000.000

Conformidade regulatória e despesas de gerenciamento de riscos

Os custos relacionados à conformidade totalizaram o ARS 2,3 bilhões em 2022.

Categoria de despesa de conformidade	Custo anual (ARS)
Consultoria jurídica	850,000,000
Sistemas de gerenciamento de riscos	750,000,000
Relatórios regulatórios	700,000,000

GRUPO SUPERIELLE S.A. (SUPV) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

Para o ano fiscal de 2022, o Grupo Superelle relatou receita de juros de 129.370 milhões de pesos argentinos de empréstimos e produtos de crédito.

Categoria de empréstimo	Receita de juros (milhão de ARs)
Empréstimos comerciais	52,685
Empréstimos ao consumidor	38,912
Empréstimos hipotecários	22,456
Empréstimos agrícolas	15,317

Taxas de serviço bancário

As taxas de serviço bancário geraram 43.256 milhões de pesos argentinos em 2022.

• Taxas de manutenção de conta: 12.845 milhões de ARs
• Taxas de processamento de transações: 18.765 milhões de ARs
• Taxas de serviço do cartão de crédito: 11.646 milhões de ARs

Comissões de transações digitais

As comissões de transações digitais totalizaram 18.234 milhões de pesos argentinos em 2022.

Canal digital	Receita da Comissão (milhão de ARs)
Mobile Banking	7,456
Transferências online	6,789
Pagamentos digitais	3,989

Serviços de investimento e gerenciamento de patrimônio

A receita de serviços de investimento atingiu 22.567 milhões de pesos argentinos em 2022.

• Taxas de gerenciamento de ativos: 9.876 milhões de ARs
• Serviços de consultoria de investimento: 7.345 milhões de ARs
• Gerenciamento de fundos mútuos: 5.346 milhões de ARs

Câmbio e receita comercial

As receitas de câmbio e negociação foram de 35.412 milhões de pesos argentinos em 2022.

Categoria de negociação	Receita (milhão de ARs)
Transações de câmbio	21,567
Negociação de valores mobiliários	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.