BUENOS AIRES, Argentina--(BUSINESS WIRE)--
Grupo Supervielle S.A. (NYSE: SUPV) (BYMA: SUPV), (“Supervielle”
or the “Company”) a universal financial services group headquartered in
Argentina with a nationwide presence, announced today that with the
objective of further integrating the management of its operations, Jorge
Ramirez, Chief Executive Officer of Grupo Supervielle will also assume
the position of CEO of Banco Supervielle replacing Nerio Peitiado who is
leaving to pursue other opportunities. This appointment is subject to
customary Central Bank approval.
"Grupo Supervielle has been executing a growth strategy focused on
delivering customer centric cost-effective value propositions. This
requires an agile and flexible management structure to continue driving
cross selling across the Company. The change we are announcing is a
further step in that direction. Jorge's experience in leading similar
transformational processes will be key to ensure successful execution of
our strategy. I would also like to thank Nerio Peitiado for his
contributions to Banco Supervielle and wish him well in his new
endeavors,” noted Patricio Supervielle, Chairman of Grupo
Supervielle.
“I am pleased to report preliminary comprehensive net income in line
with our full year 2018 guidance and coverage reaching 100% one year in
advance of our original goal. As we enter 2019, we remain fully focused
on closely monitoring our asset quality, positioning the business for
growth and maintaining tight control on costs. At the same time, we are
continuously evaluating opportunities to support growth as we take Grupo
Supervielle forward in this new business environment. We remain
optimistic about the long-term potential of the banking industry in
Argentina, the strength of our Company and our ability to adapt our
business model to a rapidly changing environment,” commented Jorge
Ramirez, CEO of Grupo Supervielle.
About Grupo Supervielle S.A.
(NYSE: SUPV; BYMA: SUPV)
Grupo Supervielle S.A. (“Supervielle”) is a holding company with a
long-standing presence in the Argentine financial system and a
competitive leadership position in certain attractive market segments.
It was founded by the Supervielle family, which took its first steps in
the banking sector in 1887 and is now controlled by Patricio
Supervielle. Its shares are listed in BYMA and NYSE since May 2016.
Grupo Supervielle has developed a multi-brand business model to
differentiate financial products and services offered to a broad
spectrum of individuals, small and medium-sized enterprises and large
companies in Argentina. To date, it is made up of Banco Supervielle,
Cordial Compañía Financiera, Tarjeta Automática, Supervielle Seguros,
Espacio Cordial de Servicios, Supervielle Asset Management, Mila,
InvertirOn-Line and Sofital.
Safe Harbor Statement
This press release contains certain forward-looking statements that
reflect the current views and/or expectations of Grupo Supervielle and
its management with respect to its performance, business and future
events. We use words such as “believe,” “anticipate,” “plan,” “expect,”
“intend,” “target,” “estimate,” “project,” “predict,” “forecast,”
“guideline,” “seek,” “future,” “should” and other similar expressions to
identify forward-looking statements, but they are not the only way we
identify such statements. Such statements are subject to a number of
risks, uncertainties and assumptions. We caution you that a number of
important factors could cause actual results to differ materially from
the plans, objectives, expectations, estimates and intentions expressed
in this release. Actual results, performance or events may differ
materially from those in such statements due to, without limitation, (i)
changes in general economic, financial, business, political, legal,
social or other conditions in Argentina or elsewhere in Latin America or
changes in either developed or emerging markets, (ii) changes in
regional, national and international business and economic conditions,
including inflation, (iii) changes in interest rates and the cost of
deposits, which may, among other things, affect margins, (iv)
unanticipated increases in financing or other costs or the inability to
obtain additional debt or equity financing on attractive terms, which
may limit our ability to fund existing operations and to finance new
activities, (v) changes in government regulation, including tax and
banking regulations, (vi) changes in the policies of Argentine
authorities, (vii) adverse legal or regulatory disputes or proceedings,
(viii) competition in banking and financial services, (ix) changes in
the financial condition, creditworthiness or solvency of the customers,
debtors or counterparties of Grupo Supervielle, (x) increase in the
allowances for loan losses, (xi) technological changes or an inability
to implement new technologies, (xii) changes in consumer spending and
saving habits, (xiii) the ability to implement our business strategy and
(xiv) fluctuations in the exchange rate of the Peso. The matters
discussed herein may also be affected by risks and uncertainties
described from time to time in Grupo Supervielle’s filings with the U.S.
Securities and Exchange Commission (SEC) and Comisión Nacional de
Valores (CNV). Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as the date of this
document. Grupo Supervielle is under no obligation and expressly
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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Investor Relations Contacts:
Ana Bartesaghi
5411-4324-8132
Ana.BARTESAGHI@supervielle.com.ar
Gustavo Tewel
5411-4324-8158
Gustavo.TEWEL@supervielle.com.ar
Nahila Schianmarella
5411-4324-8135
Nahila.SCHIANMARELLA@supervielle.com.ar
Valeria Kohan
5411-4340-3013
Valeria.KOHAN@supervielle.com.ar
Source: Grupo Supervielle S.A.