Net interest income growth has decelerated sharply to 33.5% YoY in 2026Q2, while the net interest margin remains highly volatile, swinging from 13.0% in 2024Q1 to 2.9% currently, indicating extreme sensitivity to macroeconomic policy shifts.
Grupo Supervielle S.A. (SUPV) annual income statement — 13-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Net Interest Income | 717.64B | 941.31B | 774.46B | 728.39B | 586.78B | 260.57B | 106.21B | 21.17B | 27.74B | 21.7B | 6.25B | 3.51B | 2.46B | 1.8B |
| NII Growth % | 27.55% | 21.54% | 6.32% | 24.13% | 125.19% | 145.34% | 401.68% | -23.68% | 27.82% | 247.45% | 78.04% | 42.59% | 36.82% | - |
| Net Interest Margin % | 8.16% | 12.09% | 17.19% | 16.25% | 27.09% | 34.26% | 28.23% | 10.46% | 12.72% | 16.05% | 6.24% | 10.62% | 10.59% | 10.32% |
| Interest Income | 1.42T | 2.04T | 1.66T | 2.53T | 1.71T | 629.19B | 190.23B | 92.91B | 64.21B | 34.48B | 10.41B | 6.46B | 4.63B | 2.87B |
| Interest Expense | 703.18B | 1.1T | 889.93B | 1.8T | 1.13T | 368.62B | 84.03B | 71.74B | 36.47B | 12.78B | 4.17B | 2.95B | 2.17B | 1.07B |
| Loan Loss Provision | 242.67B | 303.63B | -4.61B | -11.98B | -22.05B | 43.77B | 23.65B | 14.87B | 10.18B | 5.74B | 1B | 507.51M | 299.23M | 344.03M |
| Non-Interest Income | 284.01B | 280.37B | 380.43B | 490.13B | 251B | 164.69B | 52.12B | 62.1B | 30.81B | 17.02B | 3.57B | 2.61B | 1.73B | 1.51B |
| Non-Interest Income % | 28.35% | 22.95% | 32.94% | 40.22% | 29.96% | 38.73% | 32.92% | 74.58% | 52.62% | 43.96% | 36.36% | 42.67% | 41.28% | 45.58% |
| Total Net Revenue | 1T | 1.22T | 1.15T | 1.22T | 837.78B | 425.26B | 158.33B | 83.27B | 58.54B | 38.72B | 9.81B | 6.12B | 4.19B | 3.3B |
| Revenue Growth % | 8.28% | 5.78% | -5.22% | 45.45% | 97% | 168.59% | 90.13% | 42.24% | 51.19% | 294.53% | 60.41% | 46.04% | 26.82% | - |
| Non-Interest Expense | 799.64B | 1.03T | 1.02T | 1.04T | 918.27B | 390.32B | 122.41B | 72.48B | 52.65B | 32.34B | 6.98B | 4.67B | 3.31B | 2.48B |
| Efficiency Ratio | 79.83% | 84.37% | 88.03% | 85.54% | 109.61% | 91.78% | 77.32% | 87.04% | 89.93% | 83.53% | 71.09% | 76.39% | 79.12% | 75.02% |
| Operating Income | -40.67B | -112.72B | 142.87B | 188.13B | -58.44B | -8.83B | 12.27B | -4.08B | -4.28B | 641.03M | 1.83B | 937.35M | 575.71M | 481.31M |
| Operating Margin % | -4.06% | -9.23% | 12.37% | 15.44% | -6.98% | -2.08% | 7.75% | -4.9% | -7.32% | 1.66% | 18.69% | 15.32% | 13.74% | 14.57% |
| Operating Income Growth % | - | -178.9% | -24.06% | 421.93% | -561.46% | -172.01% | 400.77% | 4.8% | -768.36% | -65.05% | 95.67% | 62.82% | 19.61% | - |
| Pretax Income | -40.67B | -112.72B | 142.87B | 188.13B | -58.44B | -8.83B | 12.27B | -4.08B | -4.28B | 641.03M | 1.83B | 937.35M | 575.71M | 481.31M |
| Pretax Margin % | -4.06% | -9.23% | 12.37% | 15.44% | -6.98% | -2.08% | 7.75% | -4.9% | -7.32% | 1.66% | 18.69% | 15.32% | 13.74% | 14.57% |
| Income Tax | -16.63B | -55.99B | 38.3B | 75.64B | -24.31B | 1.7B | 1.97B | 346.66M | 2.12B | 1.8B | 500.6M | 247.16M | 199.08M | 97.77M |
| Effective Tax Rate % | 40.88% | 49.67% | 26.81% | 40.21% | 41.6% | -19.22% | 16.1% | -8.5% | -49.41% | 281.24% | 27.29% | 26.37% | 34.58% | 20.31% |
| Net Income | -23.97B | -56.6B | 104.49B | 112.4B | -34.09B | -10.52B | 10.29B | -4.42B | -6.34B | -1.16B | 1.31B | 674.11M | 362.92M | 372.99M |
| Net Margin % | -2.39% | -4.63% | 9.05% | 9.22% | -4.07% | -2.47% | 6.5% | -5.31% | -10.83% | -3% | 13.36% | 11.02% | 8.66% | 11.29% |
| Net Income Growth % | -153.14% | -154.17% | -7.03% | 429.71% | -224% | -202.25% | 332.74% | 30.28% | -446.46% | -188.5% | 94.52% | 85.75% | -2.7% | - |
| Net Income (Continuing) | -24.04B | -56.73B | 104.57B | 112.49B | -34.13B | -10.53B | 10.29B | -4.43B | -6.4B | -1.16B | 1.33B | 690.19M | 376.63M | 383.55M |
| EPS (Diluted) | -273.79 | -652.95 | 1423.60 | 582.95 | -172.30 | -9.40 | 57.85 | -48.40 | -69.40 | -14.75 | 20.50 | 22.20 | 18.80 | 7.60 |
| EPS Growth % | -213.68% | -145.87% | 144.21% | 438.33% | -1732.98% | -116.25% | 219.52% | 30.26% | -370.51% | -171.95% | -7.66% | 18.09% | 147.37% | - |
| EPS (Basic) | - | -652.95 | 1423.60 | 582.95 | -172.30 | -9.40 | 57.85 | -48.40 | -69.40 | -14.75 | 20.35 | 13.45 | 18.80 | 7.45 |
| Diluted Shares Outstanding | 87.55M | 87.54M | 87.93M | 88.55M | 90.85M | 91.34M | 91.34M | 91.34M | 91.34M | 78.57M | 64.46M | 30.37M | 24.77M | 49.15M |
Quick answers to the most common questions about buying SUPV stock.
For fiscal year 2025, Grupo Supervielle S.A. (SUPV) reported total revenue of $1.22T. This represents a 36878.8% increase compared to $3.30B in 2013.
Grupo Supervielle S.A. (SUPV) reported a net loss of $56.60B for the fiscal year ending 2025.
Grupo Supervielle S.A. (SUPV) reported an operating income of $-112717.4M, resulting in an operating profit margin of -9.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Grupo Supervielle S.A. (SUPV) generated $918.05B in gross profit for the year, representing a gross profit margin of 75.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Hyperinflationary accounting obscuring real performance
NII Growth Decelerates Amid Volatility
Net interest income growth decelerated sharply to 33.5% YoY in 2026Q2, down from 49.7% in 2025Q4, suggesting the bank's core spread-based earnings momentum is fading as the Argentine macro environment remains challenging.
The sequential decline in NII growth from 49.7% in 2025Q4 to 33.5% in 2026Q2 indicates that the tailwinds from prior rate hikes and deposit repricing are diminishing. This deceleration, when viewed alongside the deeply negative operating income in several recent quarters, suggests the bank is struggling to translate nominal growth into sustainable real earnings. The volatility in NII, including the anomalous -99.9% drop in 2025Q3, points to significant instability in the core funding and lending franchise.
NIM Volatility Signals Structural Fragility
The net interest margin has been highly erratic, swinging from 13.0% in 2024Q1 to 0.0% in 2025Q3 and back to 2.9% in 2026Q2, indicating extreme sensitivity to the hyperinflationary environment and BCRA policy shifts.
The NIM's wild fluctuations are not indicative of normal business cycle dynamics but rather reflect the distorting effects of IAS 29 accounting and the bank's heavy reliance on government securities yields. The collapse to 0.0% in 2025Q3, followed by a partial recovery, suggests the bank's asset-liability management is under severe stress. Compared to peers like BBAR with a more stable margin profile, SUPV's NIM volatility represents a significant risk to earnings predictability.
Provision Volatility Undermines Earnings Stability
Loan loss provisions have been wildly inconsistent, ranging from a negative $87.8B in 2024Q4 to a peak of $109.4B in 2025Q4, indicating unpredictable credit quality cycles that make underlying profitability assessment extremely difficult.
The massive negative provision in 2024Q4, likely a reversal or accounting adjustment, followed by a sharp spike to $109.4B in 2025Q4, suggests the bank's credit loss modeling may be reactive rather than predictive. This volatility, especially when combined with the bank's focus on vulnerable SME and consumer segments, implies that asset quality risks are not being smoothly provisioned for over time. The provision expense in 2026Q2 of $68.0B remains elevated relative to operating income, continuing to pressure net results.
Efficiency Ratio Deteriorates Amid Cost Pressures
The efficiency ratio has worsened to 75.9% in 2026Q2 from 75.8% in 2024Q1, but the more concerning trend is the ratio's spike to 133.9% in 2024Q4 and 116.0% in 2025Q3, periods where non-interest expenses overwhelmed total revenue.
The bank's cost structure appears fundamentally misaligned with its revenue generation capacity in the current environment. The periods where the efficiency ratio exceeded 100% indicate the bank was spending more than it earned, a situation that is unsustainable without capital erosion. Even the 'improved' 75.9% ratio in 2026Q2 is significantly worse than peers like BMA (implied ~90% based on 10.2% op margin) and BBAR, suggesting SUPV's physical branch network and indexed labor costs are a structural drag on operating leverage.
2025Q3: The Quarter of Operational Collapse
The 2025Q3 quarter represents a critical inflection point where NII collapsed by 99.9% to just $116.5M, the efficiency ratio surged to 116.0%, and the bank posted a net loss of $37.8M, signaling a near-complete breakdown in core earnings generation.
This quarter's performance, with NII falling from $192.3B to $116.5M, appears to be a severe anomaly likely driven by extreme hyperinflationary accounting distortions or a specific regulatory event. However, the fact that the bank could not generate positive operating income even with a modest revenue base suggests deep operational vulnerabilities. This event may mark a point where the cumulative pressures of inflation, regulation, and cost structure overwhelmed the business model, and the subsequent recovery to profitability in 2026Q2 appears fragile.
Hyperinflationary Accounting Masks Real Value Erosion
The reported 13.71% revenue growth may represent a significant real contraction when adjusted for Argentina's prevailing inflation rate, suggesting the bank's nominal growth is failing to preserve economic value for shareholders.
Under IAS 29, the financial statements are restated for hyperinflation, but the reported growth figures still appear to lag the country's inflation rate. This implies that in real terms, the bank's earning assets and revenue streams are shrinking. The sustained negative net margins and ROE of -6.3% further support the view that the bank is not generating returns above its cost of capital in real terms. Investors should be cautious of headline growth figures and focus on real, inflation-adjusted performance metrics, which are not provided but appear to be negative based on the margin trends.