BUENOS AIRES, Argentina–(BUSINESS WIRE)–Grupo Supervielle S.A. (NYSE: SUPV) (“the Company”) announced that on April 30, 2020, the Company filed its annual report on Form 20-F for the year ended December 31, 2019 with the U.S. Securities and Exchange Commission (the “SEC”).
It is worth noting that Company’s financial statements from fiscal year 2019 are issued under the International Financial Reporting Standards (“IFRS”) as adopted by the Central Bank of the Republic of Argentina (the “BCRA”), i.e. excluding paragraph 5.5 Impairment of IFRS 9 Financial Instruments, and IAS 29 Financial Reporting in Hyperinflationary Economies.
Notwithstanding the foregoing, in our Annual Report 20-F filed with the SEC, the financial statements have been presented under IFRS without exceptions, given that no partial adoption is admitted. These financial statements present significant differences with those issued under the BCRA’s presentation standards, since they include the expected loss model of IFRS 9 and the adjustment for inflation set forth by IAS 29.
In compliance with the New York Stock Exchange rules, the Form 20-F and also an explanation of the methodology for calculating the adjustment for inflation and a reconciliation between the balance sheet and income statement for the year ended December 31, 2019 under BCRA presentation rules and under Full IFRS used in the Annual Report 20F are available on the Company’s website at http://www.gruposupervielle.com. In addition, all shareholders of the Company may request, free of charge, a hard copy of the Company’s complete audited financial statements filed with the SEC. To request a hard copy of the Company’s audited financial statements, or for any other inquiry in respect of this press release, please contact the Investor Relations Department of the Company at (5411) 4324-8158.
About Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV)
Grupo Supervielle S.A. (“Supervielle”) is a universal financial services group located in Argentina that owns the eleventh largest bank in terms of loans. Headquartered in Buenos Aires, Supervielle offers retail and corporate banking, treasury, consumer finance, insurance, asset management and other products and services nationwide to a broad customer base including: individuals, small and medium-sized enterprises and medium to large-sized companies. With origins dating back to 1887, Supervielle operates through a multi-brand and multi-channel platform with a strategic national footprint. As of December 31, 2019, Supervielle had total assets of AR$146.5 billion under Argentine Banking GAAP. As of the date of this report Supervielle had 316 access points and 1.8 million active customers. As of December 31, 2019, Grupo Supervielle had 456,722,322 shares outstanding and a free float of 64.9%.
For further information access http://www.gruposupervielle.com.
Phone 54 11 4324 8132