BUENOS AIRES, Argentina--(BUSINESS WIRE)--
Grupo Supervielle S.A. (SUPV) (“Supervielle”) announces the filing of its annual report on Form 20-F and the corresponding audited financial statements for the fiscal year ended December 31, 2018 with the Securities and Exchange Commission.
It is worth noting that Company's financial statements from fiscal year 2018 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. Hence, by presenting a balance sheet under full IFRS, reconciliation with US GAAP was discontinued. 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.
The 2018 Form 20-F and 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, 2018 under BCRA presentation rules and under Full IFRS used in the Annual Report 20F can be downloaded from Supervielle's website www.gruposupervielle.com under the SEC Filings section.
In addition, holders of Supervielle's securities and any other interested parties may request a hard copy of our 2018 Form 20-F by making a request through the Investor Relations website, writing to email@example.com or contacting the Investor Relations Department 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 March 31, 2019, Supervielle had total assets of Ps. 164.9 billion under Argentine Banking GAAP. As of the date of this report Supervielle had 325 access points and 1.8 million active customers. As of March 31, 2019, Grupo Supervielle had 456,722,322 shares outstanding and a free float of 64.6%. For information about Grupo Supervielle, visit www.gruposupervielle.com.
For further information access http://www.gruposupervielle.com