Grupo Financiero Galicia S.A(NASDAQ:GGAL) 
Grupo Financiero Galicia S.A., a financial services holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, Regional Credit Cards, Insurance, and Other Businesses segments. The company's products and services co...
Website: http://www.gfgsa.com
Founded: 1905
Full Time Employees: 9,408
Sector: Financial Services
Industry: Banks-Regional
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-06-10 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2023-12-31 | 2018-09-28 | 2017-12-31 |
|---|---|---|---|---|---|---|---|
interest income | -108,036,949,000 | 8,244,240,000,000 | 6,296,175,000,000 | 9,583,749,000,000 | |||
interest expense | 41,204,335,000 | ||||||
net income from interest | -66,832,614,000 | 5,149,813,000,000 | 4,019,543,000,000 | 3,482,685,000,000 | |||
fee income | -10,215,900,000 | 1,271,266,000,000 | 819,890,000,000 | 1,102,123,000,000 | |||
fee related expenses | 928,471,000 | -179,402,000,000 | -121,934,000,000 | -151,808,000,000 | |||
net fee income | -9,287,429,000 | 1,091,865,000,000 | 697,956,000,000 | 950,315,000,000 | |||
net income from financial instruments measured at fair value through profit or loss | -43,929,052,000 | 534,430,000,000 | |||||
income from derecognition of assets measured at amortized cost | -3,297,901,000 | 205,335,000,000 | 167,682,000,000 | 84,880,000,000 | |||
exchange rate differences on foreign currency | -1,991,115,000 | 154,842,000,000 | 129,123,000,000 | 1,234,831,000,000 | |||
other operating income | -14,999,623,000 | 488,419,000,000 | 316,032,000,000 | 769,557,000,000 | |||
insurance business result | -1,272,384,000 | 16,029,000,000 | 57,375,000,000 | 73,261,000,000 | |||
impairment charge | 70,116,238,000 | -862,799,000,000 | -458,718,000,000 | -384,380,000,000 | |||
net operating income | -71,493,880,000 | 7,110,464,000,000 | 5,463,422,000,000 | 6,763,274,000,000 | |||
personnel expenses | 221,882,967,000 | -1,031,479,000,000 | -512,388,000,000 | -708,476,000,000 | |||
administrative expenses | 15,878,837,000 | -754,026,000,000 | -508,618,000,000 | -595,116,000,000 | |||
depreciation expenses | 24,793,010,000 | -188,067,000,000 | -114,169,000,000 | -169,890,000,000 | |||
other operating expenses | 36,989,356,000 | -1,260,007,000,000 | -883,999,000,000 | -1,140,074,000,000 | |||
loss on net monetary position | 42,782,235,000 | -2,384,891,000,000 | -1,976,508,000,000 | -3,061,020,000,000 | |||
operating income | 270,832,525,000 | 1,491,993,000,000 | 1,467,740,000,000 | 1,088,699,000,000 | |||
yoy | -75.12% | ||||||
qoq | 1.65% | 34.82% | |||||
share of profit from associates and joint ventures | 607,076,000 | 719,230,000,000 | -3,592,000,000 | 5,906,000,000 | |||
income before taxes from continuing operations | 271,439,601,000 | ||||||
income tax from continuing operations | -99,968,574,000 | -586,614,000,000 | -507,987,000,000 | -414,935,000,000 | |||
net income from continuing operations | 171,471,027,000 | ||||||
net income for the year | 171,471,027,000 | 1,624,610,000,000 | 956,162,000,000 | 679,670,000,000 | |||
net income for the year attributable to parent company’s owners | 171,194,168,000 | ||||||
earnings per share | |||||||
net income attributable to parent company´s owners – basic and diluted | 1,962,270,742 | ||||||
weighted-average of ordinary shares outstanding for the year – basic and diluted | 1,606,254 | ||||||
earnings per share – basic and diluted | 1,221.64 | ||||||
consolidated income statement | |||||||
interest expenses | -3,094,428,000,000 | -2,276,632,000,000 | -6,101,063,000,000 | ||||
net income from financial instruments | 866,961,000,000 | 552,126,000,000 | |||||
income before taxes | 2,211,223,000,000 | ||||||
net income for the year attributable to parent company’s owner | 1,624,745,000,000 | 956,270,000,000 | 679,675,000,000 | ||||
net income for the year attributable to non-controlling interests | -135,000,000 | -109,000,000 | |||||
other comprehensive income | 14,640,000,000 | 17,185,000,000 | 3,110,000,000 | ||||
total comprehensive income | 1,639,251,000,000 | 973,347,000,000 | 682,779,000,000 | ||||
total comprehensive income attributable to parent company’s owners | 1,639,387,000,000 | 973,455,000,000 | 682,785,000,000 | ||||
total comprehensive income loss attributable to non-controlling interests | -136,000,000 | -109,000,000 | |||||
ratios | |||||||
return on assets | 5,000,000 | 4,160,000 | 3,300,000 | ||||
return on shareholders’ equity | 26,790,000 | 21,540,000 | 16,710,000 | ||||
basic earnings per share | 1,095.51 | 648.45 | 460.8 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2021-12-31 | 2020-12-31 | 2020-08-27 | 2020-06-10 | 2020-03-10 | 2019-08-14 | 2019-05-16 | 2019-02-21 | 2018-03-08 | 2017-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
price indices | ||||||||||||||||
wpi | 51,340,000 | |||||||||||||||
cpi | 50,940,000 | |||||||||||||||
adjustment indices | ||||||||||||||||
cer | 38,640,000 | |||||||||||||||
uva | 97,510,000 | |||||||||||||||
assets | ||||||||||||||||
in pesos, unadjusted | 1,377,859,000,000 | |||||||||||||||
in pesos, adjusted by the cer/uva | 39,589,000,000 | |||||||||||||||
in foreign currency | 260,595,000,000 | |||||||||||||||
total assets | 1,678,043,000,000 | 1,055,279,000 | 823,500,000,000 | 781,497,000,000 | 1,057,950,000,000 | 622,519,000,000 | 622,519,000,000 | 664,125,000,000 | 517,801,000,000 | 8,981,400,000 | 7,270,100 | 7,162,100 | 7,244,900 | 7,699,700 | 8,456,400 | |
liabilities and shareholders’ equity | ||||||||||||||||
in pesos, unadjusted, including shareholders’ equity | 1,399,109,000,000 | |||||||||||||||
total liabilities and shareholders’ equity | 1,678,043,000,000 | |||||||||||||||
consolidated statement of financial position in accordance with ifrs | ||||||||||||||||
cash and due from banks | 175,423,000 | 195,569,000,000 | 185,594,000,000 | 175,423,000,000 | 131,824,000,000 | 131,824,000,000 | 130,819,000,000 | 116,815,000,000 | 1,420,000,000 | 973,600 | 985,900 | 939,400 | 747,600 | 343,500 | ||
debt securities at fair value through profit or loss | 155,420,000 | |||||||||||||||
loans and other financing | 526,434,000 | |||||||||||||||
deposits | 676,396,000 | 505,383,000,000 | 479,606,000,000 | 676,396,000,000 | 407,769,000,000 | 407,769,000,000 | 393,906,000,000 | 320,052,000,000 | 5,589,500,000 | 4,488,000 | 4,069,900 | 4,178,200 | 3,511,800 | 2,778,100 | ||
other liabilities | 97,472,000 | 44,094,000,000 | 41,845,000,000 | 51,605,000,000 | 20,251,000,000 | 20,251,000,000 | 31,673,000,000 | 17,011,000,000 | ||||||||
shareholders’ equity attributable to gfg | 182,334,000 | 133,554,000,000 | 126,742,000,000 | 179,860,000,000 | 63,709,000,000 | 94,635,000,000 | 50,439,000,000 | |||||||||
percentage of period-end balance sheet items denominated in dollars: | ||||||||||||||||
total liabilities | 9,000 | 686,435,000,000 | 651,423,000,000 | 878,090,000,000 | 556,912,000,000 | 556,912,000,000 | 566,709,000,000 | 465,637,000,000 | 23,010,000 | 27,730 | 32,470 | 32,840 | 30,390 | 7,282,700 | ||
in millions of pesos, except otherwise noted | 1,000,000 | 1,000,000 | 4,000,000 | 1,000,000 | 1,000,000 | 4,000,000 | 3,000,000 | |||||||||
debt securities | 97,056,000,000 | 92,106,000,000 | 155,420,000,000 | 108,810,000,000 | 108,810,000,000 | 65,690,000,000 | 22,563,000,000 | |||||||||
net loans and other financing | 411,825,000,000 | 390,820,000,000 | 531,581,000,000 | 301,477,000,000 | 301,477,000,000 | 362,865,000,000 | 293,940,000,000 | |||||||||
other financial assets | 59,046,000,000 | 56,034,000,000 | 117,216,000,000 | 57,680,000,000 | 57,681,000,000 | 72,810,000,000 | 65,817,000,000 | |||||||||
equity investments in subsidiaries, associates and joint businesses | ||||||||||||||||
property, bank premises, equipment | 37,122,000,000 | 35,228,000,000 | 43,731,000,000 | 14,048,000,000 | 14,048,000,000 | 14,088,000,000 | 10,522,000,000 | |||||||||
intangible assets | 10,402,000,000 | 9,871,000,000 | 14,469,000,000 | 4,254,000,000 | 4,254,000,000 | 5,506,000,000 | 1,112,000,000 | |||||||||
other assets | 12,433,000,000 | 11,799,000,000 | 19,992,000,000 | 4,220,000,000 | 4,219,000,000 | 12,308,000,000 | 6,788,000,000 | |||||||||
assets available for sale | 47,000,000 | 45,000,000 | 29,000,000 | 206,000,000 | 206,000,000 | 39,000,000 | 244,000,000 | |||||||||
liabilities | ||||||||||||||||
financing from financial entities | 25,082,000,000 | 23,802,000,000 | 13,833,000,000 | 14,627,000,000 | 14,627,000,000 | 22,724,000,000 | 26,457,000,000 | |||||||||
other financial liabilities | 66,328,000,000 | 62,945,000,000 | 97,528,000,000 | 67,700,000,000 | 67,701,000,000 | 73,666,000,000 | 64,966,000,000 | |||||||||
notes | 28,315,000,000 | 26,871,000,000 | 17,074,000,000 | 35,582,000,000 | 35,581,000,000 | 29,241,000,000 | 26,794,000,000 | |||||||||
subordinated notes | 17,233,000,000 | 16,354,000,000 | 21,654,000,000 | 10,983,000,000 | 10,983,000,000 | 15,499,000,000 | 10,357,000,000 | |||||||||
shareholders’ equity attributable to third parties | 3,511,000,000 | 3,332,000,000 | 1,898,000,000 | 1,898,000,000 | 2,781,000,000 | 1,725,000,000 | ||||||||||
total shareholder’s equity | 137,065,000,000 | 130,074,000,000 | 97,416,000,000 | |||||||||||||
equity investments in subsidiaries, associates, and joint businesses | 89,000,000 | |||||||||||||||
total shareholders’ equity | 179,860,000,000 | 621,100,000 | 540,600 | 534,400 | 525,100 | 524,000 | 536,600 | |||||||||
shareholders’ equity | 65,607,000,000 | 65,607,000,000 | 52,164,000,000 | 753,800,000 | 325,600 | -218,400 | 75,600 | 47,500 | -702,100 | |||||||
income statement | 2,019,000,000 | |||||||||||||||
net interest income | 4,209,000,000 | |||||||||||||||
interest income | 21,982,000,000 | |||||||||||||||
interest related expenses | -17,773,000,000 | |||||||||||||||
net fee income | 6,012,000,000 | |||||||||||||||
fee income | 6,761,000,000 | |||||||||||||||
fee related expenses | -749,000,000 | |||||||||||||||
net results from financial instruments | 15,719,000,000 | |||||||||||||||
gold and foreign currency quotation differences | -48,000,000 | |||||||||||||||
other operating income | 6,510,000,000 | |||||||||||||||
underwriting income from insurance business | 672,000,000 | |||||||||||||||
loan loss provisions | -7,561,000,000 | |||||||||||||||
net operating income | 25,513,000,000 | |||||||||||||||
personnel expenses | -4,063,000,000 | |||||||||||||||
administrative expenses | -4,065,000,000 | |||||||||||||||
depreciations and devaluations of assets | -569,000,000 | |||||||||||||||
other operating expenses | -4,260,000,000 | |||||||||||||||
operating income | 12,556,000,000 | |||||||||||||||
income tax | -3,341,000,000 | -65,000,000 | -41,100 | 14,700 | -30,700 | -6,400 | ||||||||||
net income | 9,215,000,000 | |||||||||||||||
net income attributable to third parties | 178,000,000 | |||||||||||||||
net income attributable to gfg | 9,037,000,000 | |||||||||||||||
other comprehensive income | -209,000,000 | |||||||||||||||
total comprehensive income | 9,006,000,000 | |||||||||||||||
comprehensive income attributable to third parties | 178,000,000 | |||||||||||||||
comprehensive income attributable to gfg | 8,828,000,000 | |||||||||||||||
shareholders’ equity attributable to grupo financiero galicia | 63,709,000,000 | |||||||||||||||
e. | ||||||||||||||||
f. | ||||||||||||||||
g. | ||||||||||||||||
h. | ||||||||||||||||
i. | ||||||||||||||||
j. | ||||||||||||||||
k. | 71,277,000 | |||||||||||||||
l. | 632,272,000 | |||||||||||||||
m. | ||||||||||||||||
n. | ||||||||||||||||
o. | ||||||||||||||||
p. | 713,208,000 | |||||||||||||||
q. | 4,828,018,000 | |||||||||||||||
r. | 55,673,000 | |||||||||||||||
s. | 815,875,000 | |||||||||||||||
t. | 1,935,139,000 | |||||||||||||||
consolidated income statement in accordance with argentine banking gaap | ||||||||||||||||
financial income | 909,500,000 | 791,600 | 347,900 | 733,000 | 791,200 | |||||||||||
financial expenses | 355,300,000 | 384,700 | -402,800 | 609,700 | 608,900 | |||||||||||
net financial income | 554,200,000 | 407,000 | 123,300 | 182,300 | ||||||||||||
benefit from losses on loans and other receivables | 138,700,000 | 168,400 | -130,300 | 36,100 | 25,300 | |||||||||||
income before taxes | 167,800,000 | 101,500 | ||||||||||||||
net income / | 102,800,000 | 60,400 | -339,100 | 28 | ||||||||||||
earnings / | 83,000 | 49 | ||||||||||||||
cash dividends per share | ||||||||||||||||
stock dividends per share | ||||||||||||||||
book value per share | 500,000 | 435 | 432 | |||||||||||||
amounts in accordance with u.s. gaap | ||||||||||||||||
basic and diluted earnings / | 465,000 | 200 | -273 | |||||||||||||
book value / | 607,000 | 300 | -176 | -565 | ||||||||||||
net financial income / | 864,200,000 | 511,100 | -54,900 | 1,170,500 | 367,100 | |||||||||||
consolidated balance sheet in accordance with argentine banking gaap | ||||||||||||||||
government securities | 570,400,000 | 1,029,100 | 443,500 | 537,300 | 1,038,700 | 1,968,500 | ||||||||||
loans | 5,370,900,000 | 3,549,900 | 3,409,300 | 3,681,700 | 3,425,500 | 3,481,800 | ||||||||||
other funds | 2,770,800,000 | 2,241,600 | 2,557,800 | 2,541,600 | 3,663,900 | 5,141,700 | ||||||||||
average total assets | 7,323,900,000 | 6,501,800 | 6,779,000 | 6,770,000 | 8,019,100 | 7,995,400 | ||||||||||
loans, net of allowances | 14,530,000 | 17,780 | 16,970 | 15,130 | 16,680 | |||||||||||
trading securities | 679,200,000 | 529,900 | 286,500 | 151,100 | 67,800 | 251,500 | ||||||||||
available-for-sale securities | 599,900,000 | 1,031,700 | 593,600 | 1,179,700 | 1,698,800 | 1,526,400 | ||||||||||
income / (loss) before taxes | 24,500 | 41,800 | ||||||||||||||
net income / (loss) before the absorption | -6,200 | 35,400 | ||||||||||||||
absorption approved in the annual shareholders meeting | ||||||||||||||||
net income / (loss) after the absorption | -6,200 | 35,400 | ||||||||||||||
adjusted net income per share | 194 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | |
|---|---|
reconciliation of cash flows under argentine banking gaap and us gaap | |
cash flow from operating activities under argentine banking gaap | |
discontinued operations | |
net cash flow from operating activities under argentine banking gaap without discontinued operations | |
loans, available for sale securities, deposits at the argentine central bank and organization and development expenses reclassified to investing activities | |
deposits and repo transactions reclassified to financing activities | |
reverse repo transactions with the argentine central bank | |
interest paid on debt | |
financial trust consolidated under us gaap | |
cash flow from operating activities under us gaap | |
operations discontinued | |
net cash flow from operating activities under us gaap | |
cash flow (used in) investing activities under argentine banking gaap | |
net cash flow (used in) investing activities under argentine banking gaap without discontinued operations | |
net increase in loans, available for sale securities, deposits at the argentine central bank and organization and development expenses | |
financial trust consolidated under us gaap—corresponding to loans and securities | |
capital increase | |
net cash flow (used in) investing activities under us gaap | |
cash flow (used in) inveting activities under us gaap | |
cash flow from financing activities under argentine banking gaap | |
net cash flow from financing activities under argentine banking gaap without discontinued operations | |
deposits and repo transactions | |
interest paid on debt reclassified to operating activities | |
financial trust consolidated under us gaap—corresponding to debt | |
cash flow from financing activities under us gaap | |
net cash flow from financing activities under us gaap | |
effect of exchange rate changes on cash and cash equivalents | |
cash and cash equivalents at the beginning of the year under us gaap | |
cash and cash equivalents at the end of the year under us gaap | |
net increase in cash and cash equivalents under us gaap |