Grupo Supervielle S.A.

Good morning, everyone, and welcome to Grupo Superviel's third quarter 2024 earnings call. I'm Ana Bartizaghi, pressure and IRO. Today's conference call is being recorded. As a reminder, all participants will be in listen-only mode. To ask questions during the Q&A session, ensure your first and last name appear on the Zoom platform. Questions can be asked by voice or through the Q&A box. Speaking today, we'll be participating our chairman and CEO, Gustavo Paco Manrique, Banco Superviel's recently appointed CEO, and Mariano Biglia, our chief financial officer. Also joining us for Q&A, Diego Pizzulli, CEO of Impacted Online. 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 statement section in our earnings release and recent SEC file. Patricio, please go ahead.

Thank you, Anna. Good morning, everyone, and thank you for joining us today. Turning to slide three. Earlier this year, we began an heightened effort to drive targeted credit expansion. And today we are pleased to report that sustained loan growth momentum continued in the third quarter and into the fourth quarter today. Our loan book expanded 15% sequentially and 60% year-to-date in real terms, gaining 60 basis points in market share since the beginning of the year. Furthermore, higher margin retail loans, including personal and auto, gained share of our total portfolio. Total deposits were up in the high teens, mainly driven by U.S. deposits, which stand at a record high following the tax amnesty. Year-to-date, deposits gained 60 basis points in market share. Fee income also showed strong growth sequential. brokerage platforms. Asset quality remains strong with the non-performing loans ratio steady at a historic low. At the same time, net interest margin normalized reflecting lower inflation and the evolving interest rate environment. Now moving to an update of our business highlights. First, mobile transactions represented 56% of total transactions, cementing it as our leading channel and reflecting strong customer adoption. On the retail side, our loan book delivered exceptional growth, expanding 44% quarter over quarter. Car loans stood out, doubling in volume and reinforcing our position as the number two lender in this segment. also grew 42 and 41% respectively. These achievements highlight our commitment to delivering tailored financial solutions that meet the evolving needs of our customers, supported by a seamless digital experience. Second, our corporate loan book remains stable in real terms quarter over quarter and up 54% to date. Encouragingly, we observed a significant uptick in demand for US dollar-denominated loans in October, underscoring the momentum in key export-oriented sectors, particularly oil and gas, where we're offering attractive, tailored financial solutions. Third, Invertir Online continues to strengthen its position as the leading online brokerage platform in the country, contributing 21% of our total fee income in this quarter. we are pleased to report that our active clients reached a record 580,000, representing a 14% sequential increase with transaction volumes up 21% during the same period. This good performance reflects the strong appeal of our integrated digital services. Noteworthy, Invitee Online is playing a key role complementing Banco Superville in channeling channeling corporate debt issuances to its retail customer base. Moreover, assets under custody reached a record of $1.2 billion. Lastly, we continued to expand our insurance operation, achieving a 36% quarterly growth in car insurance. A key milestone this quarter was the launch of our digital insurance solutions for corporate clients through our virtual hub. which enhances our ability to meet the evolving needs of businesses while streamlining accessibility and services. Looking ahead, while profitability bottomed out in the third quarter as anticipated on our prior earnings goal, we are seeing a rebound in the fourth quarter and are on track to meet our full year guidance of 15% return on equity. Longer term, we see significant opportunities further deepen market penetration. Credit remains underutilized in Argentina, representing just 6% of GDP. At the same time, our ongoing focus on digital innovation and operational efficiency equips us to serve our clients more effectively and drive shareholder value. Our strategic initiatives, combined with our strong capital base, position us well to support Argentina's ongoing recovery. Before Mariano discusses the financial details of the quarter, I want to take a moment to formally introduce and welcome Gustavo Baco Manriquez, the new CEO of Banco Superviel, as well introduce Diego Pizzulli, who has been leading Inverti Online since July 2022 and will be available in the Q&A session. Banco Superviel is the largest operation We are pleased to welcome Paco, who assumed the CEO position in the bank on October 1st. As CEO, Paco brings over a decade of experience leading one of the leading private banks in Argentina, as well as a broad international experience. We have accomplished a lot over the past few years in positioning the bank to meet the evolving and changing customer banking needs. Paco will now steer the bank through its next growth phase. We are excited about the prospects ahead for the bank and look forward to working with Paco as we realize these opportunities. With that, let me turn the call over to Paco so that he can introduce himself and say a few words.

Thank you, Patricio, for that warm welcome. Good morning for all of you. It's a pleasure to be participating in my first earning call at Superbill. It's an exciting time for the banking sector in Argentina as the country continues its economic recovery. Here at Banco Superviil, we are well positioned to be a significant participant in the recovery. And I'm impressed with the high level of technology and human capital that we have here in the bank, which combined, which is strong capitalizations, plays the bank well to maximize the potential in Argentina. and I look forward to leading the bank through its next growth phase. While it's very early days, I just assumed my new position on October 1st, my near-term and long-term priorities will be focused basically pursuing growth initiatives while improving profitability. I have found very attractive opportunities to further expand our business leveraging our geographic footprint and position in key business segments. I expect to share a little bit more of my perspective when we present the four-quarter results, basically the next quarter results. Over the coming months, I look forward to meet you, our institutional shareholders, another member of the investment community, both here in Argentina and abroad. Now, let me turn call over Mariano to a review of all our financial performances.