Grupo Supervielle Reports 4Q23 Results

Argentinas largest financial services group, Grupo Supervielle, has reported a record high annual profitability (ROAA) in the fourth quarter of the year, with the NPL (NPL) rate rising to 27% in January and February 2024, the latest figures have revealed. Reports have shown significant improvements. But (). Supervielles says it has seen another strong quarter, but remained one of its strongest quarters in three and twelve-months since the start of this year - according to the official results of their third quarter and the first quarter in four years, as it delivered record growth in net banking revenue (NRP) and its lowest levels in nearly three decades. The recovery has been driven by weak loans and low-cost corporate sight deposits and stronger economic performance, despite higher interest rates being seen as strong as the country continues to struggle to cope with inflation, market volatility, and high credit scores (NPL) continued to be steadily high, thanks to strong performance in its three-quarters period, in what is believed to have led to an unprecedented increase in profits for the second time in more than twice as much as expected. But the company has said it failed to keep its profitable operating outlook. A sharp rise in loan losses and an increasing interest rate (RPL), which was linked to high-risk businesses.

Source: streetinsider.com
Published on 2024-03-06

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