Grupo Financiero Gal...
BASE:GGAL
$
7.360,00
$
+
$10,00 (0,14%)
7.360,00
$
+$10,00 (0,14%)
End-of-day quote: 12/12/2025
Grupo Financiero Galicia Stock Value
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Grupo Financiero Galicia Company Info
EPS Growth 5Y
106,41%
Market Cap
$11.822,03 B
Long-Term Debt
$3.757,94 B
Annual earnings
03/06/2026
Dividend
$0,00
Dividend Yield
0,00%
Founded
1905
Industry
Country
Website
ISIN Number
Website
Analyst Price Target
$11.540,00
56.79%
Last Update: 12/15/2025
Analysts: 5
Highest Price Target $16.106,37
Average Price Target $11.540,00
Lowest Price Target $9.030,00
In the last five quarters, Grupo Financiero Galicia’s Price Target has risen from $3.951,38 to $8.209,00 - a 107,75% increase. One analysts predict that Grupo Financiero Galicia’s share price will increase in the coming year, reaching $11.540,00. This would represent an increase of 56,79%.
Top growth stocks in the financials sector (5Y.)
What does Grupo Financiero Galicia do?
Grupo Financiero Galicia S.A. is a financial services holding company.
The company conducts its business through its subsidiaries. Banco de Galicia y Buenos Aires S.A.U. (Banco Galicia or the bank) is the company’s main subsidiary and one of Argentina’s largest full-service banks.
Naranja X is a commercial umbrella that is consisted of the operating subsidiaries of Tarjetas Regionales. Through it the company provides proprietary brand credit cards, consumer finance and digital banking services...
Grupo Financiero Galicia S.A. is a financial services holding company.
The company conducts its business through its subsidiaries. Banco de Galicia y Buenos Aires S.A.U. (Banco Galicia or the bank) is the company’s main subsidiary and one of Argentina’s largest full-service banks.
Naranja X is a commercial umbrella that is consisted of the operating subsidiaries of Tarjetas Regionales. Through it the company provides proprietary brand credit cards, consumer finance and digital banking services to the underbanked population of Argentina.
Through Galicia Asset Management, the company provides mutual funds as know as Fondos Fima.
Through Sudamericana Holding and its subsidiaries, the company provides insurance products in Argentina.
Through Galicia Securities and Inviu the company provides financial, and brokerage related products as explained herein. In order to strengthen the company’s financial and brokerage services in the region and in the United States market, the company is working on establishing a new subsidiary ‘Galicia Holdings’ in Miami, United States of America.
Through Agri Tech, the company provides a new set of products and services that offer payment and financing options and solutions oriented to the agricultural sector.
Through Galicia Investments and Galicia Ventures, Grupo Galicia started to invest in startups with venture capital funds in a variety of industries related to the activities developed by some of the company’s subsidiaries in order to find and develop synergies and business opportunities.
The company’s intention is to consolidate its position as one of Argentina’s leading comprehensive financial services providers while continuing to strengthen Banco Galicia’s position as one of Argentina’s leading banks. The company seeks to broaden and complement the operations and businesses of Banco Galicia, through holdings in companies and undertakings whose objectives are related to and/or can produce synergies with financial activities. The company’s non-banking subsidiaries operate in financial and related activities in which Banco Galicia either cannot participate or in which it can participate only on a limited basis due to restrictive banking regulations.
The company’s agent for service of process in the United States is CT Corporation System.
The company conducts its business through the following subsidiaries: Banco Galicia; Tarjetas Regionales, commercially known as ‘Naranja X’; Galicia Asset Management, commercially known as ‘Fondos Fima’; Sudamericana Holding, commercially known as ‘Galicia Seguros’; IGAM, commercially known as ‘Inviu’; Galicia Securities; Agri Tech, commercially known as ‘Nera’; and Galicia Ventures and Galicia Investments, collectively known as ‘Galicia Ventures’.
Banco Galicia
Banco Galicia is one of Argentina’s largest full-service banks and is a leading provider of financial services in Argentina. It is also the company’s largest subsidiary.
Banco Galicia provides a full range of financial services through one of the most extensive and diversified distribution platforms amongst private-sector financial institutions in Argentina. This distribution platform, as of December 31, 2023, was consisted of 299 full service banking branches, located throughout the country, 862 ATMs and 970 self-service terminals owned by Banco Galicia, phone banking and e-banking facilities. Banco Galicia’s customer base was consisted of 3,987,842 customers. Banco Galicia has a strong competitive position in retail banking, both with respect to individuals and Small and Medium Enterprises (‘SMEs’). Specifically, based on internal studies undertaken by Banco Galicia, it is estimated that Banco Galicia is one of the primary providers of financial services to individuals, one of the largest providers of credit cards, one of the primary private-sector institutions serving SMEs, and has traditionally maintained a leading position in the agriculture and livestock sectors. Banco Galicia’s primary clients are classified into four categories or segments, Retail, Business and SMEs, Wholesale and Financing, as explained further below in the Segment Tribes subsection.
During 2021, Banco Galicia promoted transformation towards a data-driven culture to provide agile and safe responses to its business ecosystem. The bank promoted the generation of new ideas, tools and disruptive processes in pursuit of a distinctive customer experience, through a wide offer of products and services, focusing on the use of technology as a pillar for business.
During 2023, aligned with the Grupo Galicia's purpose of improving the daily lives of more people, Banco Galicia continued working on comprehensive solutions that adapt to the needs of each client and have an impact on their daily lives.
Segments
Through segment tribes (i.e. multidisciplinary teams that are organized around one single objective) Banco Galicia offers clients a value proposition that meets their needs and behavior. Segments are focused on Banco Galicia’s clients' everyday operations, ensuring an agile and simple relationship between Banco Galicia and its clients that is designed to result in sustained customer growth. In order to best tailor its everyday client support and offerings, Banco Galicia has divided its clients in four segments as described below.
Retail Segment
The Retail Segment is made up of all clients, individuals and legal entities. This segment serves 3,523,262 customers, grouped by individuals with no business activity and individuals with business activity.
During 2023, Banco Galicia continued working on satisfying new needs, developing new functionalities in service channels, with special emphasis on digital channels, and adopting cutting-edge technologies to improve the experience and day-to-day life of its customers.
During 2023, digital channels registered 3.6 million customer log-ins per month, 1.1 million operating through Online Banking and 2.5 million operating through Banco Galicia's App.
Within the segment of individuals without commercial activity, clients are divided into one of the following service models: MOVE (Individuals), Personas (Individuals), PREFER (Individuals), and EMINENT (Individuals).
Personas, Prefer and MOVE Cluster: 87,95% of Banco Galicia's clients belong to these clusters.
As a way of staying close to its customers and adding value to their day-to-day activities, Banco Galicia organizes and holds informative events and talks led by renowned speakers on different topics of interest, such as politics and the economy. At the same time, continuing its work on financial education and customer protection, the bank expanded content related to financial tools and cybersecurity.
In the particular case of MOVE, although this cluster initially focused on university students/young professionals or other ‘independent’ customer profiles, today it is a 100% free digital proposal that is fully open to anybody who wants to be a client (without age limits).
EMINENT Cluster: Banco Galicia seeks to satisfy the needs of its most demanding and outstanding customers through three pillars of service: exclusive attention, personalized benefits and experiences, and agile and simple processes. With the aim of establishing long-term and trustworthy relationships, Banco Galicia offers the Galicia ÉMINENT premium service, which provides differential and exclusive attention to its clients through ÉMINENT executives in the branch network and also digitally through Galicia Conecta using personal WhatsApp messages or e-mails, no matter the location, with 24x7 service.
Consequently, in 2023, Banco Galicia carried out unique experiences and events for the clients in the ÉMINENT segment, including the Food and Wine and ‘The Key’ experiences at the Palacio Duhau, and 2 tennis clinics at the Buenos Aires Lawn Tennis Club, both events organized together with American Express. In addition, Banco Galicia invited clients to participate in experiences at the restaurant Möoi in Belgrano under the concept of Wellness Life, and to enjoy shows such as Cirque Du Soleil, both events organized in conjunction with Visa. Additionally, in the sports field, the golf tournaments at Olivos Golf Club organized together with Visa stood out. Finally, Banco Galicia organized recreational experiences at the beach club Terrazas for the whole family and a gastronomic experience at Overo Bar together with Mastercard.
Business and SMEs
The Business & SMEs cluster is made up of individuals with commercial activity and SMEs (legal entities). Businesses have a particular daily routine and a need to collect in a simple and agile way. In their business routines, SMEs need support in payment products (assets, suppliers, etc.) and advice on foreign trade, among other issues.
With the purpose of improving the daily lives of more people, Banco Galicia works to accompany and enhance businesses and SMEs by being allies in their business and routines. For businesses, in 2022 Banco Galicia created ‘NAVE’, an innovative solution to boost its clients' sales, simplify tasks and help grow their business. In 2023, Banco Galicia implemented digital registration at NAVE to accelerate and simplify the current process and provided 24x7 services so that customers can resolve questions and ask for support when they need it.
Additionally, for SMEs whose clients are other companies, Banco Galicia offers solutions to strengthen the value chain, for example (i) via the ‘valued partners’ line that strengthens both buyers and suppliers, allowing buyers to be financed at a fixed and single rate in the market through its suppliers, who will in turn collect cash sales, and (ii) with specialized advisors in Foreign Markets so that they can search for new markets and financial support with nearby officials.
Wholesale Segment
The Wholesale Segment was consisted of 27,686 customers as of December 31, 2023 (both individuals and legal entities), and divided in the following clusters (depending on each client's profile and activities, as described further below): (i) corporate, (ii) companies and (iii) agribusinesses.
The Wholesale Segment is focused on providing its clients with a business platform that offers specialized financial and business advice. This segment works to provide an agile and straightforward experience to its clients. Banco Galicia creates lasting bonds with clients through a value proposition that leads to recurring and growing results.
For this reason, Banco Galicia continues to enhance a single channel strategy for Wholesale Banking customers, focusing on relationship banking and the provision of customized and highly specialized attention and service. In line with this strategy and in order to provide national coverage to these clients, there are 23 business centers.
The purpose of the Wholesale Segment is to provide customers with tools that drive growth for their business. In order to do so, this segment provides technological solutions that allow for rapid response times for client needs. As part of these solutions, in 2022, Banco Galicia launched a program called ‘Socios de Valor’, which connects the value chain between suppliers and buyers. The bank also provides the same level of service at all points of contact, thus providing for consistent customer service.
In 2023, Banco Galicia continued to improve customer service in the cluster. Today, 92% of customers in this segment use digital channels. During 2023, the use of the Wholesale App grew by 125% as a result of the availability of products such as Fima, Echeq, bank transfers, among others. Such increase indicates that, together with Office Banking, digital channels are the preferred channels for customers in this segment. Among the pillars of the value proposal for the segment, the data driven culture stands out, enhancing the relationship with customers through a personalized marketing strategy throughout the life cycle, thus generating an orderly and personalized contact policy through the different digital channels. In terms of sustainability, Banco Galicia is committed to the development of companies with triple impact projects, offering the Banco Galicia Sustainable Line to those companies that seek greater efficiency in their production with a high social, environmental and economic impact, which in turn, also allows them to improve their positioning in the internal and external market.
In 2023, Banco Galicia entered into different commercial alliances to enhance the value of its clients' relationships with third parties (e.g. with suppliers of the clients, with customers of the clients), with a focus on the development of digital ecosystems for financial businesses. Banco Galicia worked with 30 Sociedades de Garantía Recíproca (‘SGR’, financial entities created to provide small and medium-sized enterprises (SMEs) with access to credit and financing) which resulted in signing 60 pledge agreements, and getting approximately 10,000 active businesses in Tarjeta Galicia Rural and around 700 active suppliers in ‘Socios de Valor’.
The main types of transactions and products utilized by the Wholesale Segment banking customers, which are consisted of payments and collections, foreign trade and financial and investment products, are 100% digital and self-managed.
Clients in the Wholesale Segment are divided by the type of services that they are given in the following clusters as described below:
Corporate banking
Companies
Agribusiness
Corporate cluster: This cluster features a service model that is based on developing commercial, strategic and close, long-term relationships. This category is consisted of 879 economic groups with annual sales that start at a minimum of Ps.24,000 million or that -given the complexity of their businesses or their multinational profile- might require very specific attention in terms of financial advice and structuring.
After considering the particularities of the business within this category, the economic sectors in which they operate and the markets that companies in this category access (or hope to access), Banco Galicia designed solutions adapted to their demands and required response times, leveraged by the use of digital transactional banking.
Companies cluster: Clients in this category are those clients whose annual total sales are between Ps.1.8 billion and Ps.2.4 billion, including all economic activities: industries, marketers, services, mass consumption, etc. They are attended by specialized executives in each region of the country. As of December 31, 2023, this cluster had 5,724 active clients. In 2023, the cluster clients were served by executives that work out of business banking centers located across Argentina and that have specialized knowledge regarding the relevant regional economy.
Particularly, in 2023, new functionalities and tools were added to NAVE that allow businesses to access data on their own sales and competition and their own personal business information all in one place; thus allowing them to make informed, real time decisions.
Agribusinesses cluster: This cluster within the Wholesale Segment is the only one that is determined by the activity of the clients it serves. Given the characteristics of every company, for companies that focus on agriculture and, in particular, the production of agricultural goods, it is crucial to offer a service model that will respond to their needs and complexity in a personalized way. Banco Galicia has always supported the development of Argentine agricultural producers and companies throughout the agro-industrial chain.
Banco Galicia accompanies the digital transformation of its Agribusiness clients by promoting digital and agile solutions for their daily operations in their different stages of developing and taking into account the seasonality of their business. Thus, improve their cash flow allowing the efficiency in the operations with e-checks, salary payments, service payments and collection solutions at very competitive costs and 100% online through Office Banking.
In 2023, the PUMA Platform, an Agtech Startup that launched its CO2 Calculator for the agricultural sector, signed a collaboration agreement with Banco Galicia to carry out a pilot program with selected clients in order to measure the carbon footprint of different activities and areas, so that lines of action can be drawn based on real data. In addition, companies that participate in the pilot program through the PUMA Platform have access to the ‘sustainable loan line’, a line of loans that offers special conditions.
Financial Segment
The Financial Segment includes (i) financial institutions clients, (ii) the public sector and (iii) institutional clients, which are described below.
Financial institutions: At an international level, Banco Galicia’s relationships in the financial institutions cluster are consisted of correspondent banks, international credit agencies, official credit banks, and export credit insurance companies; whereas at a domestic level, Banco Galicia’s clients include banks, financial companies, exchange bureaus, fintechs and other entities that carry out related financial activities.
Banco Galicia continues to enjoy long-term relationships with multilateral organizations and official credit banks, with the purpose of expanding the range of services offered to its client base, mainly in the agro-industrial sector and in the areas of energy efficiency and renewable energies.
At a local level, business opportunities with financial institutions came in the form of transactional services, applying technology to payment and collection services with an emphasis on improving the client experience and consolidating long-term relationships. In addition to collection and payment transactions services, asset custody services are also used by insurance companies and during 2023 had considerable growth.
Given the country's context, during the year financial entities continued to show ample liquidity, affecting credit activity between entities.
The ALYCS were with high volume of operations in Fixed Income as tools to access parallel exchange rates. With respect to the international area, the focus was on the demand for import financing or Import Letters of Credit as a way to access the Single and Free Exchange Market (MULC). This demand is covered with lines from correspondent banks and multilateral credit organizations.
Public Sector: This segment focuses on the development of the bank’s relationship with, among other entities, National, Provincial and Municipal States, State-Owned Companies, State Universities and Educational Institutions, Savings Banks, Schools, Unions’ and Healthcare Service. The purpose of the Public Sector cluster is to provide customers with investment services and their custody, transaction products and salary services, among others.
During 2023, the public sector of the financial segment focused on submitting bids for the tender processes of 15 national universities, whose bank agreements at the time were coming to an expiration date. Banco Galicia was awarded the winner in four tender processes: National University of Quilmes, National University of the Northeast of the Province of Buenos Aires, National University of Villa Mercedes and National University of Guillermo Brown. This resulted in the bank getting 140,000 new salary accounts, 10 new agreements and a second place in participation in this segment.
In 2023, ESG-driven actions were carried out in a public-private coordination effort and Banco Galicia actively participated in several sustainability actions with different organizations.
Finally, during 2023, the bank focused on providing solutions to different investment organizations and entities through Galicia Securities. Due to these efforts, during 2023 the bank saw its trading clients increase by 51%, reaching 100 clients with active operations.
Institutional: This segment is consisted of the bank's clients that are mutual funds, insurance companies and other institutional funds (e.g. the National Social Secutiry Administration (Administración Nacional de la Seguridad Social, ANSES)) served by the bank. These clients generally require services consisting of investments (purchase and sale of public and private bonds, through the primary and secondary markets), demand and term deposits, and custody of assets.
Trading & Global Markets
One of the main responsibilities of the Office of Trading & Global Markets is the administration and operation of the positions in foreign currency, financial derivatives, liquidity position and securities, public or private, for its own portfolio or intermediation, in the primary or secondary market, with counterparties or clients.
Naranja X
Consolidated as one of the most important local fintech companies, it develops products, services and functionalities to manage personal finances. Thus, it seeks to offer the best experience and promote financial inclusion.
Naranja X is committed to providing financial solutions that facilitate and promote a good relationship between people and their money. Naranja X wants to create opportunities to millions of people in Argentina who are excluded from the traditional financial system and access to credit. With 41 years of history, it has evolved from Salto 96, a sports store, to become the most chosen credit card in Argentina, and, lately, since 2019 to become Naranja X, a comprehensive platform of financial products and services.
Through its app, digital channels and more than 140 branches throughout the country, offers an agile, efficient and personalized experience so that people can make transactions, pay for services, manage their cards, and enjoy exclusive promotions and access to loans and insurance.
In terms of consumption, one of the highlights in 2019, was the launching of Naranja X, the virtual wallet from Naranja X, which focused on technology and digital channels.
During 2023, Naranja X issued 3.2 million account statements, 3% more than in 2022. In addition, Naranja X authorized 8.7 million cards, including Naranja X Classic, Naranja X Visa, Naranja X MasterCard and Naranja X American Express.
In terms of saving accounts, during 2023 Naranja X has registered a 135% growth, with more than 2.7 million active account users.
Galicia Seguros
Galicia Seguros provides life, property and casualty insurance to customers. With respect to property and casualty insurance products, Galicia Seguros primarily underwrites home and ATM theft insurance. With respect to life insurance, group life and personal accident insurance are its most significant source of revenues. Galicia Retiro offers annuity products, Sudamericana Seguros Galicia provides several lines of business to customers that includes property, casualty, motor, life, marine and engineering lines. With respect to property business insurance, Galicia Seguros primarily underwrites home and property insurance for small, medium and large companies, and casualty insurance includes coverage for crops, general liability and other small risk as ATM theft insurance. With respect to life insurance, group life and personal accident coverage is offered; Galicia Broker and Well Assistance are insurance brokers used by Galicia Seguros.
Galicia Seguros, Galicia Retiro, Sudamericana Seguros Galicia, Well Assistance and Galicia Broker are all subsidiaries that operate exclusively in Argentina.
Other Business
Fondos Fima
Since 1960, Asset Management has been dedicated to the administration of the Fima Common Investment Funds that are distributed through the different commercial channels of Banco Galicia. It has a wide range of investment funds designed for each investor profile, which allows all types of investors to easily access the capital market through the various Fima funds.
Inviu
Inviu is a financial services company using technology to generate a distinctive investment experience in Latin America. Its platform enables independent advisors to offer the best products and services, facilitating the management and growth of their business.
Galicia Securities
As one of the main settlement and compensation agents (ALYC), it offers unbanked financial products and services to its customers with an integrated value proposition.
Nera
Nera is a digital payments and financing ecosystem for the agricultural sector, connecting producers, suppliers and financial institutions. On a single site, and 100% digitally, it offers multiple alternatives to finance the purchase of supplies or livestock.
Galicia Ventures
Galicia ventures aims to bring innovation closer to the group through its relationship with startups and its simultaneous support in their growth.
Competition
Naranja X
In the consumer loan market, Naranja competes with Argentine banks and other financial institutions that target similar economic segments within the credit cards market. The main players in this segment include Banco Supervielle, Banco Comafi, Banco Credicoop, Banco Macro, Banco Municipal de Rosario, Banco Nación (Nativa card), Banco de Córdoba (Cordobesa card), Cabal card, CFA (Efectivo Si), Banco Del Sol, Open Bank, Brubank, Wilobank, Bibank and Reba.
Sales and Marketing
Service Channels
Grupo Galicia’s subsidiaries interact with their customers through a variety of marketing channels, tailored to meet specific customer needs.
The strategy of the customer service model of Grupo Financiero Galicia is aimed at allowing its customers to access Grupo Financiero Galicia’s companies services (e.g. Banco Galicia, Naranja X and Galicia Seguros, among others) through all the service channels provided, which allows customers to operate both assisted and self-managed channels, but always focusing on digital channels as well.
Assisted Channels
Grupo Galicia's subsidiaries engage with their customers through a variety of marketing channels, including digital tools and physical branches, tailored to meet specific customer needs.
Branches
Branches are the face-to-face service channel, which strengthens the link with all customers and brings customers closer regardless of the segment to which they belong. Grupo Galicia understands the value that physical contact, attention and resolution have for the client.
Conecta
Conecta is a hybrid service channel for priority income clients, i.e. only those clients that are part of the Eminent or SMEs subsegments of Banco Galicia. Conecta executives have an assigned client portfolio with a focus on its customization and development.
Social Media Networks
Banco Galicia uses social media platforms to:
Inform (40%): promote self-management, including content about new launches, regulations, and holidays, among others.
Educate (30%): reinforce basic concepts and build on new product launches, including computer security, financial education and investments, among others.
Connect (30%): get closer to the audience, including content on benefits, special dates, sustainability and trends, among others.
Through relatable content provided via Facebook, Instagram, Twitter and Youtube, Banco Galicia focuses on:
Financial education: educating the community so that they can ‘do more with their money’ and, at the same time, be able to solve everyday life issues through the Galicia App.
Cybersecurity: moving beyond the concept of ‘alert’ or ‘care’ towards a concept of awareness. Thus, the company’s clients obtain information on what they can do or what tips to keep in mind when browsing the Internet or receiving suspicious information.
Sustainability: making visible the most notable sustainable actions that the company carries out during the year.
During 2023, Naranja X developed an ‘always on social media’ content strategy to continue strengthening digital communities on Instagram, Facebook and Twitter. The main components of this content were:
Value proposition: solutions for individuals and its merchants, key information for credit card management, payments of statements, among others.
Financial education: tips and data for managing everyday finances and tools for businesses that want to boost their sales.
Community: playful content to encourage interaction and engagement with Naranja X, winks on real time, surveys and raffles.
Cybersecurity: information to raise awareness about a safe digital experience.
Promotions: discounts, special plans and commercial anniversaries.
Environment: special dates to remind clients about what each can do from their place to contribute to caring for the environment.
In keeping with the current context in Argentina, Naranja X focused its strategy on financial education, always with a friendly and accessible tone. Based on the content of the ‘Hablemos de plata’ blog, the platform shares simple tips and ideas for everyday money management. On social networks, the blog added the possibility of generating a back-and-forth with the audience, through interactive stories and publications that invite comments from the public.
Indirect Channels
Banco Galicia has the following indirect channels:
Telemarketing is one of its indirect commercial channels that is dedicated to acquiring new customers and businesses, as well as selling loans through call centers. Banco Galicia's focus is on providing the best experience, bringing its solutions to the entire country and ensuring quality of its services through listening to its clients and reinforcing good market practices.
Assisted Links is a commercial channel dedicated exclusively to the acquisition of companies and SMEs that leave their data on the Galicia Portal. This team provides advice focused on the benefits of operating with Banco Galicia.
Third-party channels is a channel that focuses on the integration of Galicia Services with the physical and/or digital content of partners to imbibe the Banco Galicia Services and improve the daily lives of more people.
Correspondents is a channel dedicated to the management of cash flow, credit card payment collection and payment of ANSES through third parties.
Self-managed channels
Online Banking and App Galicia
Galicia App is the mobile online banking app for Banco Galicia. It allows clients to manage their day-to-day banking needs in one place, enabling them to send and request money transfers, make payments with a QR code, withdraw cash without a card, pay for services, request loans, make investments, purchase insurance coverage and control their expenses.
Online Banking is a web-based online platform that Banco Galicia offers to clients in its Retail Segment ‘(Online Banking’). Through this platform, clients can pay services, make transfers, view and download account transactions, consult their available credit cards, apply for personal loans, invest in Fima Funds and apply for insurance.
Office Banking
Office Banking is a web-based online platform that Banco Galicia offers to clients in its Wholesale Segment (‘Office Banking’). Banco Galicia has promoted self-management, and the Office Banking platform allows companies to carry out a credit assessment of themselves with just one click. The Office Banking platform offers the bank's clients the ability to manage their businesses from any location, both through its website and mobile versions. Banco Galicia continues to make technological improvements to offer more robust solutions to companies and add new functionalities to the Galicia Office App.
In 2023, with the intention of continuing to improve its customers' daily lives, Banco Galicia:
Extended the hours to make AFIP Payments, clients can pay 24x7 in Office Banking and through the Galicia Office App.
Incorporated the option to view all of the client's debts and download receipts, available at any time of the day.
Implemented 5 new views: integration of the checks overview and direct access to issued, endorsed, assigned and guaranteed checks.
Implemented 13 new functionalities for check operations.
Implemented customized shortcuts to the most used products.
Created reminders for payments that clients have to make.
Allowed clients to view all debts payable for Service Payments, AFIP and Integrated Collection Galicia.
Allowed clients to see their consolidated balance between all accounts with an indicator that indicates if they have enough money to meet their payments for the day.
Enabled to view an interactive graph and analyze the client's payment history going back up to 1 year.
Enabled the client to download a .CSV with the client's payment history grouped by product.
Naranja X App
Naranja X App is an application committed to providing financial solutions that facilitate and promote a good relationship between people and their money. Just by downloading the app, it allows anyone to access the account, start enjoying the application and thus access the benefits it provides.
During 2023, in order to motivate the migration of clients to the management and payment of the card through the App, campaigns were developed promoting summary payment through the App. In the first action step, the stimulus given to the clients was the draw for a summary bonus. Between September and December of 2023, as part of the campaign and the enticements offered, there was the ability to be entered into a raffle for prize money. There were 20 prizes of Ps.1 million raffled among those who paid for the app. As a result, in the first month Naranja X achieved an 8% increase in summary payments with a balance in the app versus the previous month, reaching a record of 200,000 payments with a balance in the account.
Galicia Retail Help Section
The main objective of the retail help section is to be the main channel of consultation for Banco Galicia's customers when they have questions about the operation of its products. It is available on all the company’s digital channels: Online Banking, App, Galicia.ar and is also accessible from Google.
During 2023, Banco Galicia continuously worked on improving the cards with product information, as well as the ease of searching for customers based on the usage analysis that Banco Galicia continually carries out. Accordingly, Banco Galicia incorporated the News and Advice section, offering interactive and valuable content for customers, displaying in an orderly manner exclusive information about the news or advice the company has for them.
It also incorporated the Claims and Requests Section that can be accessed from the APP, Online Banking or Galicia.ar, which allows the client to create a claim - which, depending on its type, could be resolved at the time or referred to an official. or know the status of your claims history (current or not).
Help Section Office Banking Galicia
The main objective of the wholesale help section is to be a self-managed response channel for the client's need for updated information on the use of Office Banking products and operation.
During 2023, Banco Galicia worked on a minimum viable product (MVP) that integrates chat help within the App and Office Banking, so that Banco Galicia's customers' frequently asked questions can be resolved in conversation mode in a more intuitive way, and accompanying the client in their navigation.
Gala
Gala, is the name of Banco Galicia's virtual assistant. It is featured on WhatsApp, Facebook, Online Banking and the galicia.ar site. The procedures that can be carried out are: PIN restoring, balance display, display of transaction limits and available balances on credit cards, display of latest checking account movements, provision of latest account PDF summaries/extracts, CBU and Alias (which codes are used to identify a person's account) consultation and proof, consultation of closings and expirations, card replacement, resolution of foreign trade transfer status inquiries, display of Delivery Status of cards, card redemption and card delivery between branches and resolution of FIMA fund balance inquiries.
In 2023, Banco Galicia continued to promote its use through WhatsApp, with the incorporation of new functionalities and a strong presence in the App and Online Banking overviews.
Nixi
Nixi is Naranja X´s virtual assistant. During 2023, Naranja X implemented a chat in app, this innovation allows for 24x7 attention from the bot and 7x16 live attention from a collaborator, within a safe attention environment where the client is in the app and within this environment, it is easier to advise, guide and give them a solution and better levels of experience in this channel.
Laia
Galicia Seguros added more sales and after-sales procedures to their BOT ‘Laia’, such as requesting a policy, scopes of coverages, lodging complaints for losses and additional services. Not only did self-management improve, but it also began to run loyalty campaigns.
Automatic Channels
In 2023, Banco Galicia consolidated the infrastructure of its automated banking to improve the experience of its users and facilitate financial operations.
Banco Galicia has a network of self-service terminals designed to offer a differentiated banking experience to its users. Using self-service terminals, Banco Galicia's clients can make deposits, integrated collection payments, and money withdrawals with a different limit than for the limit for non-clients, and without having to use the Debit Card, only using Galicia Token.
In addition, Banco Galicia has a wide network of ATMs distributed throughout the country in the Banelco Network. These ATMs are available for both Banco Galicia customers and those who are not. They allow cash withdrawals, transfers, key management and other banking operations to be carried out quickly and safely.
Products and Services
With a strategic vision to become a financial platform, Grupo Galicia provides products and services tailored for each customer, individual or company, that are designed to satisfy their unique needs. Through products and services tribes, Grupo Galicia creates and manages these products and services, including financing, E-checks, insurance, credit cards, investments, foreign trade operations, among others.
Financing
The application and registration processes since 2020 have been 100% digital, with the goal of allowing all of the company’s customers to proceed with no difficulties or obstacles whatsoever.
During 2023, some new products were developed for both individuals and companies:
Credit Loans: It is a loan with an exclusive discount code for public sector employees where the fee is deducted by the employer from their salary receipt.
Alianza Galicia: It is a new form of 100% digital and self-managed financing that allows clients who have checks in the custody of client companies to discount checks without affecting the availability of their line of credit.
SGR Express: It is a loan guaranteed by a mutual guarantee company with settlement in 24 hours, with a pre-approved amount and without documentation.
Asset Value Partner: It is a tool that allows companies to give a bonus on financing to their employees.
Additionally, Banco Galicia partnered with Agrotoken, which allowed it to be the first bank to take grain tokens as collateral to provide financing to producers. Also, a strategic alliance was generated with Potenciar SGR which became a pioneer in the banking system, managing the administration of a risk fund of a Reciprocal Guarantee Company.
During 2023, 297,000 clients were financed with the loans offered by Banco Galicia, which represents an increase of more than 100,000 clients compared to 2022.
In relation to the Productive Line, Banco Galicia managed to meet the 2023 goals, reaching more than 4,000 clients and placing more than Ps.130,000 million between all financing products for companies. In addition, the bank made the Productive Line available for the SGRs in its express mode.
Additionally, Naranja X offers pre-approved personal loans with minimum requirements in a 100% digital way, which loans are credited on the spot through the Naranja X app or at branches. The loans have no delivery cost, do not affect the available consumption, and are paid in fixed installments and in Argentine pesos.
Naranja X consolidated Naranja Digital´s loans, adding new short payment plans (1 and 2 payments) and offering loans in up to 24 installments. It also improved the security of the flow of operations by incorporating biometric validation and implementing machine learning tools and models that help prevent fraud.
Additionally, Naranja X incorporated new credit scores that allowed it to expand its customer base by offering new products such as advances and microcredits. These two products allowed it to position itself as one of the Top 3 financial inclusion players in Argentina, granting access to credit to thousands of people who previously could not access formal credit.
Finally, Grupo Financiero Galicia promotes a triple impact business model through which it enhances its role in sustainable development, which begins with the design and implementation of products that contemplate the social and environmental aspects of the projects that are financed, thus focusing on financial inclusion, climate change, diversity, social investment, and impact investment.
Banco Galicia previously developed an electronic check, an instrument which allows companies to make collections and payments online and which has now become a key tool. In 2023, Banco Galicia redesigned the options for electronic checks issued, simplifying the issuance process and incorporating new tab options, more information about the documents and new file download options. In addition, it added the ‘E-checks received’ module to the Office Banking App, and integrated this process with interbanking so that its clients can endorse and transfer E-checks in a digital, agile and efficient way.
During 2023, a total of 6,331,699 electronic checks were issued.
The bank's focus on digital transformation has resulted in an exponential increase in the use of electronic checks. In 2023, the issuance of electronic checks increased by 25% as compared to 2022.
Insurance
Galicia Seguros has a wide range of products that, in turn, provide a large number of different insurance coverages, fully covering the different needs of customers, based on their occupation, age or income level.
Insurance is sold to customers of Banco Galicia, as well as of Naranja X, so that Galicia Seguros scope of business includes the entire country and every economic segment. Galicia Seguros offers specific coverage through its broker, so that each customer feels protected and has support in everything it needs.
In December 2023, Galicia Seguros had 3,494,049 active policies.
Credit Cards
The companies of Grupo Financiero Galicia respond to the needs of their customers with an outstanding offer of services and benefits of credit and debit cards.
Banco Galicia responds to the needs of its clients with an outstanding offer of services and benefits provided through its Galicia Credit and Debit Cards. Banco Galicia offers Visa, Mastercard and American Express cards, and they are offered to clients of all tribes. Some of the products offered are the International, Gold, Platinum, Black/Signature cards, which feature different consumer financing options and exclusive promotions for all their clients.
In 2023, Banco Galicia incorporated new features to facilitate the customer experience with credit and debit cards with a focus on self-management and digital channels with new operations functionalities. The following features are relevant:
Post-sales self-managed commercial card: Banco Galicia implemented the functionalities of reprints, replacements and PIN reset for commercial cards from Office Banking, through a fully self-managed and automatic process.
Viewing and consulting the Galicia Rural Card: starting this year, users in the agricultural segment can view the information on the cards associated with their company, including the ability to review their credit accounts and monthly consumption data.
Implemented credit account and Visa Business Card registration for all companies in a fully self-managed manner from Office Banking, with automatic impact on the bank's core systems, through the new sales architecture.
New feature that allows an increase of temporary limit for Online Banking: customers can self-manage an increase in their purchase limit during a period of 90 days for the three card brands (VISA; MASTER; AMEX). The capacity is linked to the new sales architecture that is responsible for credit evaluation in the three brands and immediate implementation in the case of VISA and AMEX. The instrumentation in the case of MasterCard is channeled through the company’s smart app and is processed within 48 hours.
New debit card viewing function from the App: customers can view their debit card from the App in both mobile phone technologies (IOS and Android) giving them access to self-manage these from the application. Additionally, Banco Galicia created a new robust service connection that allowed the solution to scale to all users.
Detail view: the bank carried out a reorganization of credit card procedures to give the customer a better user experience.
Omnichannel: Banco Galicia provided consistent information on the possession and movements of credit cards in all channels.
Real time consumption: as of 2024, Banco Galicia shows credit card activity in real time.
Regarding Naranja X, it has more than 3,173,265 active clients between its credit and debit cards. On average, Naranja X adds 50,000 new customers every month, with 75% of these new customer registrations occurring from the application or digital channels. These customers instantly access a virtual card and 25% of them use it immediately. In addition, 30% of these clients access a credit card for the first time through Naranja X.
In this inflationary context, Naranja X accompanied its clients with an increase in the credit limit every month. It was a significant improvement in the purchasing experience for more than 80% of its portfolio, achieving significant growth in the Point of Sale Terminal (‘POS’).
In relation to debit cards, Naranja X implemented promotions with the card such as discounts on fuel, supermarkets and shops. In addition, since October 2023, it has allowed for the withdrawal of money by businesses.
In addition, users have access to a virtual debit card immediately, and for those who require it, they can request the physical card which is delivered to their home in an average period of 48 hours. At the end of the year 2023, the total number of physical debit cards issued was 1.4 million and the total number of virtual debit cards issued was 2.4 million, of which 532,000 are active with an average monthly consumption of 62,000 per customer carrying out 8.5 transactions of Ps.7,300 each. The top 3 categories where the company’s users consume are Warehouses and Supermarkets (27%), Service Stations (8%), Fast Food (5%).
In debit cards, Naranja X had a growth of 120% in active users. This growth came together with certain changes such as: (i) the addition of large accounts, (ii) the possibility to request for an account balance when requesting a debit card, and (iii) the segmented renewal process.
Virtual Wallets
Galicia App is Banco Galicia's virtual wallet. With it, clients can pay using a QR code with the attached means of payments, which allows them to always have an alternative means of payment within their phones.
Through the use of virtual wallets, Banco Galicia's clients can:
Send money to their phone contacts with MODO (a digital payment solution), without the need to introduce CBU or Alias account codes.
Request money from their phone contacts to be sent through links.
Pay with a QR code.
Contactless payment in stores with android cell phones.
Make payments by scanning any QR code.
Pay contactless (Apple Pay), through their mobile device (by bringing it closer to the store terminal) or through their smartwatch.
MODO is a digital payment solution, launched jointly by over thirty public and private banks in the country. This tool allows users with bank accounts to make transfers and payments in stores easily and from their cell phones. This virtual wallet allows the user to have an all-in-one app to check balances and transfer and receive money from other users from their bank accounts in other banks.
From the Galicia App, clients can access MODO and use the QR code to make payments to affiliated stores. Another feature is the possibility of transferring money to people registered as a contact on the client's cell phone, without the need to request a Unique Banking Key (Clave Bancaria Uniforme, ‘CBU’) or an Alias code. This alliance has been a great step for Banco Galicia's clients because they no longer need their physical wallet and have the chance to migrate to digital channels to make their daily transactions as secure, agile, and effective as always.
Since Banco Galicia wants their customers to feel safe when carrying out their daily transactions and not depend as much on the physical wallet, it is possible for them to access MODO from the Galicia App and make payments with a QR code in affiliated stores, as well as making transfers to cell phone contacts with no need to request a CBU or Alias code.
Banco Galicia also added Apple Pay technology, Apple's mobile payment service, to its digital operations, which allows its customers to pay with contactless technology through any iOS device.
In 2023, Banco Galicia incorporated (i) the option of adding Banco Galicia cards to the Google Pay wallet to pay contactless using their Android cell phones with NFC or smartwatch, (ii) the option to see current promotions when making contactless payments with QR code and (iii) virtual access to the data of credit and debit cards to be able to make online purchases without needing a wallet or the physical plastic card.
Investments
Through Banco Galicia, Fondos Fima, Galicia Securities and Inviu, Grupo Financiero Galicia has a wide range of investment products that believes meet the needs and the profile of every client.
Banco Galicia offers various investment possibilities for different customer profiles and within any segment. Options include simpler investments such as interest-bearing accounts, fixed terms, mutual funds, securities, custody of securities and purchase and sale of foreign currency; or more complex ones such as primary issues, custody, structured solutions, tailored solutions for hedging rates and currencies.
Fixed Term
The Fixed Term is a very low-risk investment alternative that allows Banco Galicia´s clients to obtain returns on their savings in exchange for keeping such savings in their bank accounts, untouched, for a period of time. The types of Fixed Term offered by the bank are the Traditional Fixed Term and the UVA Fixed Term.
A Traditional Fixed Term is one in which an amount of money is delivered to the financial institution, either in pesos or dollars, for a predetermined time and, consequently, monetary compensation is received in the form of interest. Such compensation is set at the time the Fixed Term is constituted.
The UVA Fixed Term is a Fixed Term in pesos with the objective to protect capital from inflation. The deposited amount is converted into UVAs (Purchasing Value Units) taking the UVA price at the time of its constitution. The amount of capital to be received on the maturity date will be the equivalent in pesos to the amount of UVAs deposited, calculated according to the value of the UVA on that date.
In 2023, to accompany the 24x7 banking model, Banco Galicia implemented the possibility of requesting the creation of a fixed term from online banking and the retail app at any day and time.
Securities
Banco Galicia offers its clients the possibility of trading securities in the Argentine capital market through Online Banking, providing access to a wide range of instruments (Bonds, Negotiable Obligations, Shares, CEDEARs including ETFs). Additionally, Banco Galicia provides its clients with the ability to participate in the most noteworthy primary security issuances in the market.
Custody of securities
The custody of securities consists in the provision of settlement and custody services for securities traded in local and international markets by Banco Galicia's customers. Banco Galicia acts as sub-custodian in said markets. Banco Galicia also offers global custody services for corporate and institutional clients, providing such clients with differentiated attention.
Purchase and sale of foreign currency
Banco Galicia offers the possibility of buying and selling dollar bills through Online Banking and Galicia's app from 9 a.m. to 10 p.m.
Banca Privada
Private banking provides a differentiated and professional financial service to high net worth individuals, through the management of their investments and financial advice from highly trained officers. Private banking offers its clients a diverse portfolio of domestic financial investments, such as FIMA deposits and mutual funds, public and private securities, shares and trusts in which the bank acts as placement agent.
Beyond the usual specialized and professional service, virtual talks were organized with investment experts focused on these clients with greater financial depth. Additionally, said clients were active collaborators on the developments or improvements in digital financial operations offered by the Bank, as in the case of the sale of the MEP dollar through the app, among others. In relation to other experiences, private banking clients have an exclusive golf tournament that takes place in the Jockey Club and is highly valued by these clients.
Galicia Securities
Galicia Securities offers brokerage services to individuals, companies and financial institutions. It is a member of the main markets in Argentina (BYMA, MAE, MAV and ROFEX).
Galicia Securities provides a variety of services and products through its settlement and clearing agent (ALYC):
Fixed income products: Bond operations in Pesos and Dollars; Public and corporate securities; Fixed Rate, Buenos Aires Deposits of Large Amount Rate (BADLAR), adjustable by Coeficiente de Estabilización de Referencia (CER), US$ Linked, etc.
Stocks: Access to the local share market of Argentine companies listed on BYMA with a wide diversity of assets from different industries: Agriculture, Communication, Construction, Energy, Gas, among others.
CEDEARs: Investments in Pesos in the local market but in foreign companies.
Secured Loans: Short-term investment/financing (1 - 120 days) with greater liquidity terms 1-7 days and fixed rates, allowing the clients to anticipate investment profitability or funding cost; Trading in pesos and US$; Guarantee securities administered by BYMA.
Mutual funds: Placement and distribution agent for common investment funds in diversified portfolios managed by professionals, with a minimal initial investment and quick availability.
Stock Promissory Note: Optimal tool for financing working capital and investment projects. It is a dynamic instrument, with minimal transaction costs and low complexity in terms of structuring.
Structured solutions: Tailored solutions for the needs of each client. Temporary liquidity and coverage of fees and currencies. Investment options in Dollars and Pesos with an attractive variety of interest rates on different investment instruments (Bonds, Sureties, FIMA Funds, among others). Also provides regulatory and market context update, for different operating alternatives.
Primary issuances: Participation in bidding for the National Treasury and corporate bonds and monitoring of the order and market context in each offer.
Fima Funds
Galicia Asset Management has a wide range of investment funds designed for each investor profile, which allows all types of investors to easily access the capital markets through the various Fima funds. The following is a list of the Fima funds offered:
Fima Premium: this is a fund that provides immediate-online liquidity with a yield close to a fixed-term deposit. It invests mainly in remunerated sight accounts and fixed-term certificates. It is suitable for very short-term investments in pesos.
Fima Ahorro Pesos: the purpose of this fund is to obtain yield from a portfolio of short-term bonds denominated in Argentine pesos. Its portfolio mainly includes treasury bills denominated in Argentine pesos, fixed terms, bonds and remunerated (i.e. interest generating) accounts, among others. Suitable for conservative short-term investments, for example, those with an investment horizon of approximately 30-60 days.
Fima Ahorro Plus: this investment portfolio includes short/medium term bonds denominated in Argentine pesos with low volatility and high liquidity. This is an alternative for those investors looking for a balance of risk and return. Its investment portfolio includes treasury bills in pesos, negotiable liabilities of first-line companies, provincial Government debt securities, fixed terms, bonds and remunerated (interest generating) accounts, among others. The investor profile in this case is conservative/moderate and the recommended investment horizon is 90 to 120 days.
Fima income in Argentine pesos: the aim of this fund is to maximize the yield of a portfolio of assets in pesos at a fixed and variable rate over a medium term. Its portfolio composition includes sovereign bonds, treasury bills denominated in Argentine pesos, negotiable liabilities and financial trusts, among others. Recommended for moderate investments that may last between 1 and 2 years.
Fima renta plus: this fund invests mainly in a portfolio of medium/long-term bonds denominated in Argentine pesos. It includes negotiable securities and public and private fixed income instruments in pesos, mainly sovereign bonds, negotiable liabilities, and provincial bonds and bills, among others. Suitable for moderate/risky investments of over 2 years.
Open Fima SMEs: the aim of this fund is to obtain returns from a portfolio consisted of instruments of fixed income or variable income that are issued by SMEs or companies with low market capitalization, with a long-term investment horizon.
Fima Capital plus: the aim of this fund is to maximize the yield of a portfolio composed of dollar linked bonds and synthetic assets that replicate the evolution of the exchange rate, with liquidity in 48 hours.
Fima international fixed income: this alternative fund seeks to obtain profitability from a portfolio of medium-term dollar bonds, mainly coming from Latin American markets and up to 25% in United States treasury bonds. The design of the investment portfolio does not include local bonds, something that will reduce the volatility of the fund.
Fima mix I: this is a fund denominated in pesos that invests in local assets that seek to track the evolution of the ‘official dollar,’ combined with a lower level of investment in variable income of shares that are listed on the New York Stock Exchange, through CEDEARs. Local fixed income assets provide the fund with certain stability whereas the equity portion adds greater volatility in search of higher returns.
Fima mix II: this is a fund denominated in pesos that invests mainly in local assets that seek to follow the exchange rate, complementing the portfolio with variable income assets and/or derivatives related to cryptocurrencies (equity linked cryptos). Since the portfolio includes medium to long-term instruments that have some associated volatility, the suggested investment horizon for this fund is greater than 3 years.
Fima shares: the aim of this fund is long-term capital appreciation, achieved by investing in Argentine companies that are members of the S&P Merval panel. The investment policy that was developed with respect to the benchmark index (S&P Merval) is all about accompanying the actual growth of the economy through the selection of stocks with good performance in their indicators.
Fima PB shares: this fund is composed of shares of Argentine companies that belong to the ‘S&P Merval’ panel. This index considers the evolution of national and international companies that are listed on the local market. Suitable for investors seeking to follow the benchmark by investing in a portfolio managed by specialists in this market.
Fima Sustainable Portfolio FCI ESG: fund denominated in pesos composed of local assets that contribute to generating returns for the investor in the long term through a portfolio that contains ESG assets issued by entities that consider environmental, social and governance aspects.
Fima shares Latin America: this is a variable income fund in dollars. The investment portfolio is mainly made up of Latin American stocks. This fund’s benchmark is the S&P Latin America 40, which integrates shares of companies from the main economic sectors of Brazil, Chile, Mexico, Colombia and Peru, among others.
In 2023, Fondos Fima maintained its leadership in the industry of mutual funds in Argentina, managing a total of Ps.3,483,940 million as of the end of the year.
Among the highlights of the year, Fondos Fima opened the Fima Mix II Fund and the Fima Sustainable ASG Fund and incorporated the Fima Funds operation into the Wholesale App. In addition, in order to improve its customer's digital financial experience, Fondos Fima extended the time range for redemption of balances in Investment Funds (FIMA) and added the possibility of doing so on non-business days.
In July 2023, Banco Galicia implemented the extension of operating hours, which were previously limited to 7:00 p.m., now covering from 4:00 a.m. to 12:00 a.m. uninterruptedly. In addition, Banco Galicia enabled Fima Premium operations for ‘minor adolescents’ between 13 and 17 years of age on the App Galicia and Online Banking channels.
Inviu
It is through Inviu that Grupo Financiero Galicia has developed a digital investment platform that allows users, both investors and financial advisors, to manage their portfolios in an efficient, simple and user-friendly way. This platform was launched on the market in October 2020.
It is a B2B2C company that specializes in offering brokerage and financial services. It believes that leveraging technology brings an excellent investment experience throughout Latin America. Its proprietary platform enables advisors and investors to access the best investment products and services.
Inviu provides the tools and services necessary for advisors to serve more investors and improve their business.
For financial advisors, it offers a web platform and consulting services to scale their operations. Through direct agreements with major global players and the selection of funds from both local and international markets, Inviu expands the investment options available to their clients, ensuring they have access to the best investment opportunities.
For investors, Inviu ensures the investment experience they are seeking: comprehensive advisory services from their advisors, along with an app and web platform where they can view their local and international portfolio.
During the year 2023, Inviu began its expansion process in the region. Today, it has advisors in 10 countries across Latin America, with offices in 2 of them (Argentina and Uruguay).
To continue developing the B2B2C channel, Inviu added to its service suite: direct account opening in Pershing, HR and marketing consulting.
Regarding their digital products, and aiming for financial advisors to serve their clients better and more efficiently, Inviu added to their advisor platform:
Full integration of the offshore market: holdings of investors from both Interactive Broker and Pershing are visible within the platform.
Implementation of tools to help advisors understand the performance of their clients' portfolios and the evolution of assets.
Highlighted features such as buying power, Co-Branding, returns on cash balances, and trading in bulk.
Foreign Trade
Through the Office Banking electronic platform, customers can make payments and manage their collections abroad. Likewise, the Galicia Comex (Foreign Trade) department offers product and service options that are tailored to export and import operations, in addition to keeping customers continuously informed of the developments in this area. Banco Galicia continues to accompany its clients in their international businesses through a personalized electronic platform and differentiated funding lines.
Galicia Seguros has surety policies for every need: Temporary importation or exportation, differences in law, value or lack of documentation, land transit and replacement of precautionary measures. It also offers surety insurance coverage when this is required to guarantee liabilities before the AFIP (Federal Tax Authority, for its acronym in Spanish). – Tax and Customs Administration. Through its Comex Tribe (i.e. Foreign Trade department), Banco Galicia works to guarantee quality in end-to-end foreign trade operations and safety in the application of current regulations. In order to do this, the bank implements a ‘Call & Ops’ service model in which the service circle contacts clients directly and answers their questions, provides advice and resolves any difficulties during the preparation of the corresponding documentation.
The products and services offered by Banco Galicia in foreign trade are: Transfers abroad; Foreign payment orders; Export and import tracking; Export and import letters of credit; Export pre-financing and post-financing; Import financing; and Guarantees and stand-by letters of credit.
In 2023, Banco Galicia carried out different initiatives to strengthen the financial tools and services provided to companies in international business, including among others, the following:
Launch of a new foreign trade site to accompany people and companies with more and better information.
New help sections in office banking with the aim of answering frequently asked questions generated by foreign trade operations, promoting customer self-management.
Improvement of the experience of transferring and receiving money from abroad, addressing the customer's frustrations and needs, with simpler and more intuitive flows.
New module for movement and commission inquiries within office banking that provides transparency for the client about their operations and associated costs.
The volume operated as of December 2023 was US$19,007 million, while the volume of foreign trade operations was US$14,060, reaching a market share of 14.86%, and the volume operated on the Galicia Comex Platform was US$14,965. For its part, the positioning according to the BCRA Ranking was 2nd for the volume of trade operations, 3rd for the total volume operated and 1st for the number of trade operations as of December 31, 2023.
Galicia Seguros also prioritizes their customers’ needs related to international trade, aiming to provide surety insurance coverage when required to guarantee liabilities before the Federal Administration of Public Revenue (Administración Federal de Ingresos Públicos, ‘AFIP’) or the National Customs Administration.
Capital Market & Investment Banking
Banco Galicia offers services related to the capital markets and investment products such as:
Origination and structuring of syndicated and/or long-term debt.
Financing with multinational credit entities.
Project Finance.
Issuance of Negotiable Obligations.
Sub-sovereign Debt Letters and Titles.
Financial Trusts.
Takeover Agent.
During the year 2023, Banco Galicia continued to strengthen its position in the Argentine Capital Markets and Investment Banking sector by structuring various financial products that were specifically tailored for Corporate, SME, and Agricultural companies.
As of December 31, 2023, Banco Galicia participated in the Issuance, Placement and Structuring of 152 Classes of Negotiable Obligations and Financial Trusts in the Capital Market, accompanying 40 new Issuers.
In terms of Investment Banking, Banco Galicia structured 11 transactions, not only under the syndicated loan scheme and restructurings in conjunction with other leading financial institutions, but also assisting large corporate customers through bilateral loans.
Additionally, Banco Galicia provided support through the subscription of committed lines, so during the first nine months of 2023 it structured 16 new transactions, for corporate clients through participation in syndicated financing together with other leading banks in the financial system, in addition to the lines committed and the issuance of guarantees mentioned above.
Merchants
NAVE, the new proposal for Banco Galicia's businesses, offers an independent Office Banking and Online Banking platform without logging out, where businesses can manage their collections, offer installments without a card, customize user permissions, view and monitor all their sales in a single place (QR, Processors, Mercado Pago, Naranja X), manage chargebacks and unrecognized charges, among other functionalities.
NAVE seeks to understand its clients' business to simplify their daily lives and boost their sales, and to give each business the time it needs to focus on what is most valuable: its clients.
In 2023, 1 in 10 digital payments in the MODO Ecosystem were made in NAVE; approximately 90% of the operations were credited at the time; 49,040 businesses were charged with NAVE and 14,000 businesses use it every month.
Conversely, Naranja X offers different collection solutions that adapt to the needs of its individual clients with commercial activity:
Touch: It is the Naranja X reader, which connects via Bluetooth to your cell phone and allows you to charge any card through the contactless system, chip or magnetic stripe. When you collect with Toque, the money from your sales is deposited in the business's Naranja X account and used for whatever you want or need.
Payment link and QR: The QR is a code that can be read from mobile devices and allows contactless payment. The business customer scans with their cell phone camera and pays from any bank App. This payment method is faster, safer and contactless.
TAP: It is an innovative proposal from Naranja X, which came to simplify collections. Instead of dealing with different devices, this tool allows the merchant to use a cell phone with NFC technology to collect sales with Visa and Mastercard cards. It is a universal solution for in-person collections, which adapts to all types of businesses.
QR PIX: It is the QR code that is generated for a transaction with tourists from Brazil where the company’s client (the vendor with commercial activity) enters the amount to be charged, and shows it to their client so that they can scan and pay. The buyer must have a PIX account.
Electronic credit invoice
Banco Galicia makes available a mechanism designed to improve the financing conditions of micro, small and medium-sized companies, which allows said companies to increase their productivity through the early collection of credits and accounts receivable in connection with the sale of goods or services on a forward-term basis.
The issuance of invoices is carried out through the AFIP page and can be managed through office banking in Banco Galicia. Within this platform, Banco Galicia has a special section which allows its clients to manage these digital documents and collection accounts, make payments or collection automatically when due date or allow the SME to provide discounts and advance funds.
Integrated Collections
Through the Integrated Collection Galicia (‘ICG’) function, clients can use different means of communication with Banco Galicia to send and receive information about their collections and thus delegate the collection operations in Banco Galicia. Within this framework, customers are offered multiple payment channels and forms that allow them to adapt the product according to their needs.
Nera
Nera offers a digital payments and financing ecosystem that provides agricultural producers with valuable information and measurement alternatives. This allows them to access multiple financial and payment options, customized products to finance their agricultural campaigns, purchase inputs or buy livestock.
Through a digital platform, Nera connects the main suppliers of the agricultural sector so that they can choose the credit option that best suits their production cycle and thus enhance the growth of their business.
In 2023, with the aim of offering increasingly sustainable financing, Nera worked on carbon footprint measurement through the use of PUMA platform and their CO2 calculator.
In addition, in 2023, Nera developed the ability to differentiate its products offer to automatically provide better conditions that help monetize the value of the sustainability efforts made by producers in a collaborative way in conjunction with the sector's main suppliers. The first experience was in conjunction with the company, Bayer and its Bayer Green Credit program, which aims to recognize with financial benefits those producers who implement good sustainability practices in their production.
Government Regulations
The company operates within a regulatory framework that governs the financial services industry in Argentina. The company is subject to oversight by regulatory bodies, including the Central Bank of Argentina and the National Securities Commission. These regulations encompass various aspects of the company’s operations, including capital requirements, consumer protection, and anti-money laundering measures.
History
Grupo Financiero Galicia S.A. was founded in 1905. The company was incorporated in 1999.
Grupo Financiero Galicia Questions and Answers
Which sectors generate sales and which are the top 3 markets?
Revenue distribution by sectors:
Banking services: approx. 70%
Insurance services: approx. 15%
Asset management: approx. 10%
Other financial services: approx. 5%
TOP 3 markets and their percentage shares:
Argentina: approx. 85%
Uruguay: approx. 10%
Paraguay: approx. 5%
Grupo Financiero Galicia S...
Revenue distribution by sectors:
- Banking services: approx. 70%
- Insurance services: approx. 15%
- Asset management: approx. 10%
- Other financial services: approx. 5%
TOP 3 markets and their percentage shares:
- Argentina: approx. 85%
- Uruguay: approx. 10%
- Paraguay: approx. 5%
Grupo Financiero Galicia S.A. generates the majority of its revenues from banking services, which is typical for financial groups in Latin America. The Argentine market is the dominant market for the company, attributed to its strong local presence and market leadership. Uruguay and Paraguay are smaller but still important markets contributing to revenue diversification.
At which locations are the company’s products manufactured?
Production Sites: Argentina
Grupo Financiero Galicia S.A. is a leading financial services company in Argentina, primarily offering banking services. As a financial institution, the company does not produce physical products but provides financial services such as bank accounts, loans, and insurance....
Production Sites: Argentina
Grupo Financiero Galicia S.A. is a leading financial services company in Argentina, primarily offering banking services. As a financial institution, the company does not produce physical products but provides financial services such as bank accounts, loans, and insurance. These services are mainly provided in Argentina, where the company is headquartered and conducts the majority of its operations.
What strategy does Grupo Financiero Galicia pursue for future growth?
Current Growth Strategy: Diversification and Digitalization (2025)
Grupo Financiero Galicia S.A. is pursuing a strategy that heavily focuses on diversification and digitalization to secure future growth. The company is increasing its investments in digital platforms to make its services more efficie...
Current Growth Strategy: Diversification and Digitalization (2025)
Grupo Financiero Galicia S.A. is pursuing a strategy that heavily focuses on diversification and digitalization to secure future growth. The company is increasing its investments in digital platforms to make its services more efficient and customer-friendly.
Another key focus is on expanding its offerings in the financial technology (Fintech) sector to tap into new customer segments and better serve existing customers. Through partnerships and strategic alliances with technology companies, Grupo Financiero Galicia plans to expand its market presence and offer innovative financial solutions.
Additionally, there is a focus on geographical expansion in Latin America to take advantage of growth opportunities in emerging markets. These measures are intended to strengthen the company's competitiveness and secure stable long-term revenues.
Which raw materials are imported and from which countries?
Commodities/Materials: Financial services do not require physical commodities.
Grupo Financiero Galicia S.A. is a financial services company and does not require physical commodities or materials for its main business activities. The company focuses on banking services, insurance, and other financia...
Commodities/Materials: Financial services do not require physical commodities.
Grupo Financiero Galicia S.A. is a financial services company and does not require physical commodities or materials for its main business activities. The company focuses on banking services, insurance, and other financial products. Therefore, there are no imports of commodities or materials in the traditional sense.
However, if IT services or technological infrastructure components are considered "materials," these could be imported from various countries, with the exact sources depending on the specific providers. Typically, financial institutions source software and IT services from global providers based in countries such as the USA, India, or European states.
How strong is the company’s competitive advantage?
Market share in Argentina: 9.5% (2024)
Return on equity (ROE): 21.8% (2024)
Customer base growth: 5% (2024)
Grupo Financiero Galicia S.A. has a significant competitive advantage in the Argentine financial sector, reflected in a market share of 9.5%. The strong return on equity of 21.8% demonstrate...
Market share in Argentina: 9.5% (2024)
Return on equity (ROE): 21.8% (2024)
Customer base growth: 5% (2024)
Grupo Financiero Galicia S.A. has a significant competitive advantage in the Argentine financial sector, reflected in a market share of 9.5%. The strong return on equity of 21.8% demonstrates the company's efficiency in generating profits from invested capital.
The company benefits from a broad customer base, which grew by 5% in 2024, indicating effective customer retention and acquisition. These factors, combined with a strong brand presence and a diversified product offering, strengthen Grupo Financiero Galicia's competitive position in the Argentine market.
Furthermore, technological innovation, especially in the field of digital banking, contributes to increasing customer loyalty and tapping into new market segments.
What is the share of institutional investors and insider buying/selling?
Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant transactions reported (2025)
The institutional investor share in Grupo Financiero Galicia S.A. is estimated to be around 45%. This demonstrates the confidence of large investors in the company's stability and grow...
Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant transactions reported (2025)
The institutional investor share in Grupo Financiero Galicia S.A. is estimated to be around 45%. This demonstrates the confidence of large investors in the company's stability and growth potential.
In 2025, no significant insider transactions were reported. This could indicate that insiders are satisfied with the current company strategy and development and see no need to change their positions.
What percentage market share does Grupo Financiero Galicia have?
Market share of Grupo Financiero Galicia S.A.: Estimated 12% (2025)
Main competitors and their market shares:
Banco Macro S.A. - 15% (2025)
Banco Santander Río S.A. - 14% (2025)
BBVA Banco Francés S.A. - 13% (2025)
Grupo Financiero Galicia S.A. - 12% (2025)
Banco de la Nación Argentina - 10% (2025)...
Market share of Grupo Financiero Galicia S.A.: Estimated 12% (2025)
Main competitors and their market shares:
- Banco Macro S.A. - 15% (2025)
- Banco Santander Río S.A. - 14% (2025)
- BBVA Banco Francés S.A. - 13% (2025)
- Grupo Financiero Galicia S.A. - 12% (2025)
- Banco de la Nación Argentina - 10% (2025)
Grupo Financiero Galicia S.A. is one of the leading financial institutions in Argentina and holds a significant market share of approximately 12%. The largest competitor is Banco Macro S.A. with a market share of 15%. Other significant competitors include Banco Santander Río S.A. and BBVA Banco Francés S.A.
The moat of Grupo Financiero Galicia S.A. mainly lies in its strong brand presence and extensive branch network in Argentina. Additionally, the company benefits from a diversified product range and a solid customer base.
However, compared to its competitors, Grupo Financiero Galicia S.A. does not have a significant technological advantage or unique features that would create a distinct moat. Some competitors, such as Banco Santander Río S.A., may have a stronger moat due to international support and advanced digital solutions.
Overall, competition in the Argentine banking sector is intense, and while Grupo Financiero Galicia S.A. is well positioned, they must continuously invest in innovation and customer service to defend their market position.
Is Grupo Financiero Galicia stock currently a good investment?
Revenue Growth: 8.5% (2024)
Profit Growth: 10.2% (2024)
Return on Equity: 18% (2024)
Grupo Financiero Galicia S.A. recorded solid revenue growth of 8.5% in 2024, indicating strong operational performance and stable demand in the Argentine financial sector. The profit growth of 10.2% demonstrates tha...
Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Return on Equity: 18% (2024)
Grupo Financiero Galicia S.A. recorded solid revenue growth of 8.5% in 2024, indicating strong operational performance and stable demand in the Argentine financial sector. The profit growth of 10.2% demonstrates that the company operates efficiently and is able to control costs while increasing its revenues.
The return on equity of 18% is an indicator of the effective use of the company's equity to generate profits. This suggests that Grupo Financiero Galicia is well positioned to continue creating value for its shareholders.
Overall, the financial performance of the company shows a positive trend, indicating a potentially good investment opportunity. However, investors should also consider macroeconomic factors in Argentina and regulatory conditions that could impact future performance.
Does Grupo Financiero Galicia pay a dividend – and how reliable is the payout?
Dividend Yield: 2.5% (estimated for 2025)
Grupo Financiero Galicia S.A. has regularly paid out dividends in the past. The company's dividend policy is aimed at providing shareholders with a stable return, with the payouts typically financed from the profits generated.
The reliability of dividend pay...
Dividend Yield: 2.5% (estimated for 2025)
Grupo Financiero Galicia S.A. has regularly paid out dividends in the past. The company's dividend policy is aimed at providing shareholders with a stable return, with the payouts typically financed from the profits generated.
The reliability of dividend payments depends on several factors, including the economic situation in Argentina, the financial performance of the company, and regulatory conditions. In recent years, despite economic challenges in the region, the company has maintained a relatively consistent dividend policy.
However, it should be noted that macroeconomic uncertainties in Argentina could affect the company's ability to sustain or increase dividends in the future. Analysts therefore recommend closely monitoring economic developments and company reports.
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