Q3 2024 Grupo Supervielle SA Earnings Call Transcript
Key Points
- Grupo Supervielle SA (SUPV) reported a 15% sequential and 60% year-to-date growth in its loan book, gaining 60 basis points in market share.
- The company achieved a record high in US deposits, driven by a tax amnesty, with total deposits up in the high teens year-to-date.
- Asset quality remains strong with a non-performing loans ratio at a historic low.
- Mobile transactions accounted for 56% of total transactions, indicating strong customer adoption of digital channels.
- Invertironline, the company's online brokerage platform, contributed 21% of total fee income, with active clients reaching a record 580,000.
- Grupo Supervielle SA (SUPV) reported a lower return on equity (ROE) of 5% in real terms for the quarter.
- Net financial income declined 29% sequentially due to a drop in inflation and yield on government securities and loans.
- Operating expenses increased by 2% quarter-on-quarter, impacted by severance charges.
- The company's CET1 ratio declined by 210 basis points sequentially to slightly over 19% at quarter-end.
- The Argentine macroeconomic environment remains challenging, with Central Bank net reserves still negative and FX restrictions in place.
Good morning, everyone, and welcome to Grupo Supervielle third quarter 2024 earnings call. I am Ana Bartesaghi, Treasurer and IRO. Today's conference call is being recorded. (Operator Instructions)
Speaking today, we have Patricio Supervielle, our Chairman and CEO; Gustavo Manriquez, Banco Supervielle's recently appointed CEO; and Mariano Biglia, our Chief Financial Officer. Also joining us for Q&A is Diego Pizzulli, CEO of invertironline. All will be available during the Q&A session.
Before we begin, I'd like to remind you that today's call may be -- may include forward-looking statements, which are based on management's current expectations and beliefs and subject to risks and uncertainties. For more details, refer to the forward-looking statements section in our earnings release and recent SEC filings. Patricio, please go ahead.
Thank you, Ana. Good morning,
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