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Press Release from Grupo Supervielle
6 February 2019.
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.