Grupo Supervielle Swings to Profit in 2Q26; Adjusted ROAE Reaches 12.4% as Turnaround Gains Momentum

summarizeSummary

Grupo Supervielle returned to profitability in Q2 2026 with net income of AR$12.8 billion, driven by expanding margins and improving asset quality. Adjusted ROAE reached 12.4%, and the NPL ratio fell to 5.5%, 210 bps below the industry.

check_boxKey Events · Earnings and Guidance · SUPV

• Return to Profitability

  Net income of AR$12.8 billion in 2Q26, reversing a loss of AR$18.2 billion in 1Q26. Adjusted net income (excluding severance) was AR$36.2 billion.

• Margin Expansion

  Net financial income rose 8.3% QoQ to AR$294.5 billion, with NIM expanding 253 bps to 20.3% as funding costs fell faster than asset yields.

• Asset Quality Improvement

  NPL ratio improved to 5.5% from 5.6% in 1Q26, 210 bps below the industry average. Net cost of risk eased to 5.6% from 6.0%.

• Cost Restructuring

  Headcount reduced 17% vs. year-end 2025, generating AR$42 billion in annualized personnel savings. Full run-rate benefit expected from 3Q26.

auto_awesomeAnalysis · SUPV · Finance

After a steep first-quarter loss, Grupo Supervielle rebounded to a net profit of AR$12.8 billion in Q2 2026, fueled by a sharp recovery in net financial income and lower loan loss provisions. Excluding one-time severance costs from a major headcount reduction, adjusted ROAE hit 12.4%, signaling that the underlying earnings engine is healing. Asset quality improved as the NPL ratio dropped to 5.5%—well below the industry average—and net cost of risk eased. The bank also announced new strategic partnerships and a leaner cost structure, positioning it to capture growth as Argentina's macro environment stabilizes. This report marks a clear inflection point after a challenging first half.