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Investor Presentation March 2014
Banco Galicia
Agenda
»The Argentine Financial System
»Banco Galicia
»Annex
2
Sustained Growth in Financial Intermediation
(*) Jan-14 vs. Jan-13 variation.
CAGR: Dec-02 / Jan-14.
As of January 31, 2014.
CAGR: 26.9%
CAGR: 22.3%
3
Private-Sector Loans and Deposit Growth
As of January 31, 2014.
4
But Still Low Financial Depth
(*) Adjusted by INDEC CPI until 2006, and by private estimates since 2007. In millions of Ps. of January 2014.
5
As of December, 2011. The World Bank. As of December, 2011. The World Bank.
Increase in Interest Rates
(1) Private Banks’ 30-day time deposits rate, for deposits over Ps. 1 million. (2) Adjusted by INDEC CPI until 2006, and by private estimates since 2007.
As of January 31, 2014.
BADLAR Private Banks (1)
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Breakdown of Deposits by Currency and Type
Deposit data is not shown for the period January-March 2002, because as a result of the devaluation and the pesification measures, figures are not homogeneous for that period.
As of January 31, 2014.
7
Change in the Composition of the Banking System
December 2001 October 2013
Number
Market Share
Private-Sector
Deposits (%)
Number
Market Share
Private-Sector
Deposits (%)
Banking Institutions 86 100 65 100
Government-Owned Banks 13 30 12 35
Private-Sector Banks 73 70 53 65
- Domestic Banks 34 15 33 31
- Foreign Banks 39 55 20 34
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Improvement in Asset Composition and in Loan Portfolio Quality
As of December 31, 2013.
(*) Not including Central Bank Paper.
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Improvement in Profitability
As of December 31, 2013.
10
Agenda
»The Argentine Financial System
»Banco Galicia
»Annex
11
Simplified Organizational Structure
Processing
EBA HOLDING
57.98% Votes
99.6% 87.5%
12.5%
21.63% Shares
97% 77% Insurance
3%
95% 100% 100% 95%
TNP
24%
5%
5%
Collection
Perú
12
Number of Branches Employees Clients (*)
Bank 261 5,487 2,801
Reg. Credit-Card Cos. 204 5,668 4,552
CFA 95 1,170 536
Total 560 12,325 7,889
(*) In thousands.
(**) 59 branches and 36 offices.
Banco Galicia in Numbers
December 2013 (Consolidated figures)
(**)
Ps. bn. US$ bn.
(6.52 Ps./US$)
Assets 82.2 12.6
Net Loans 55.3 8.5
Deposits 51.4 7.9
Equity 6.7 1.0
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One of the Largest Banks
Market share of
loans to the private-sector (1)
Market share of
private-sector deposits
(1) Includes securitized loans and leasing. (2) Considering CFA, the Bank’s market share of loans to the private-sector would be 9.0%. Source: Argentine Central Bank. (P) Goverment owned banks
As of October 31, 2013.
(P)
(P)
(P)
(P)
(P)
(P)
TOP 10 = 76 % TOP 10 = 70 %
Galicia
Galicia (2)
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(1) Includes securitized loans and leasing.
Source: Argentine Central Bank (except for the regional credit-card companies).
As of October 31, 2013.
Peer Comparison
+T.Reg.+CFA
15
+T.Reg.+CFA +T.Reg.+CFA
Source: Argentine Central Bank. As of October 31, 2013.
Competitive Environment
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As of December 31, 2013.
Breakdown of Loans to the Private Sector
Consolidated: Ps. 57.4 billion Bank: Ps. 41.7 billion
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Loan Portfolio by Maturity
Maturing within 1 year: 83.0%.
US$-denominated loans: 5.1%.
Consolidated figures, as of December 31, 2013.
18
Funding Sources (non consolidated)
CAGR: 29%
(*) Includes among other: repos, financial institutions, collections on
account of third parties, debt with merchants.
US$ -denominated deposits: 7.2%. As of December 31, 2013.
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Asset Quality
As of December 31, 2013.
Acquisition of CFA
20
Excess Regulatory Capital and Total Capital Ratio
Banco Galicia consolidated.
As of December 31, 2013.
To
tal
Cap
ital
Rat
io (
%)
Minimum Requirement Ps. 5.7 bn
Regulatory Capital Ps. 7.5 bn
Excess Capital Ps. 1.8 bn / 32.0%
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Strong Profitability
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Agenda
»The Argentine Financial System
»Banco Galicia
»Annex
23
Net Income Net Financial Income
Income Tax Net Income from Services
Operating Income
Net Charge for Loan Losses
Administrative Expenses
Net Other Income/Losses
59%
41%
100%
13%
62%
1% 10%
16%
% Change 34 33 34 18 28 -77 49 41
Variation 2012
Consolidated Income Statement
2013
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Consolidated Income Statement
Net Income Net Financial Income
Income Tax Net Income from Services
Operating Income
Net Charge for Loan Losses
Administrative Expenses
Net Other Income/Losses
61%
39%
100%
13%
57%
0% 12%
18%
% Change 16 4 11 29 3 -69 26 15
% Change 50 28 41 -11 24 -100 101 68
Variation 3Q13
Variation 4Q12
4Q13
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Volume Growth & Productivity Improvement
Dec-02 Dec-13 Abs. %
·Employees 6,058 12,347 6,289 104
- Banco Galicia 4,057 5,487 1,430 35
- Regional Credit-Card Cos. 1,904 5,668 3,764 198
- CFA 1,170
- Other Subsidiaries 97 22 (75) (77)
·Distribution Platform
Branches
- Banco Galicia 229 261 32 14
- Regional Credit-Card Cos. 87 204 117 134
- CFA 95
·Electronic Banking Transactions (1)(in thousands, per month) 4,996 47,783 42,787 856
·Products
Deposit Accounts (*) 1,063 2,768 1,705 160
Credit Cards (*) 1,596 10,891 9,295 582
- Banco Galicia (*) 498 2,520 2,022 406
- Regional Credit-Card Cos. (*) (Proprietary brands and others) 1,098 8,270 7,172 653
- CFA (*) 101
Debit Cards(*)801 2,376 1,575 197
·Client Base (* )2,013 7,889 5,876 292
(*) In thousands.
Variation
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Tarjetas Regionales
» Consumer finance to medium and low income segments.
» Merchant acquirer and payment processing services provider to proprietary credit cards.
» Largest credit card issuer in Argentina with over:
» 3.0 million active accounts and 8.0 million cards issued.
» 204 branches and 56 offices across the country.
» 35% market share in purchase volume in the interior of Argentina (excluding the city and the province of Buenos Aires) and 15% nationwide.
» Second largest merchant acquirer with over 230,000 affiliated merchants.
» Largest independent payment processor with more than 135 million annual transactions.
In millions of Ps.
2012 2013
Assets 9,629 13,393
Loans 8,957 11,988
Net Worth 1,859 2,366
Net Income 524 636
ROE 31.8% 31.0%
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CFA | Efectivo Sí
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» Consumer finance to medium and low income segments.
» Leader in Personal Loans within consumer finance institutions.
» More than 20 years in the market with strong brand:
» 536,000 current clients (segment C1, C2, C3, D1) – more than 1 million historical clients.
» 411,000 loans granted in 2012 and 418,000 during the first nine months of 2013.
» Loans in pesos, no guarantee, fixed interest rate.
» 95 branches (59 Branches and 36 Offices).
In millions of Ps. 2012 2013
Assets 3,167 3,699
Loans 2,448 3,248
Net Worth 994 1,037
Net Income 216 143
ROE 23.1% 14.2%
Lines of Business
December 2013 (In millions of Ps. except percentages). It does not include accrued interest.
Cash loans.
Granted in branches.
2,245 69%
Payroll loans.
Government employees, pensioners, military and members of mutuals.
456 14%
Loans for the acquisition of goods.
Granted through retail merchants associated with CFA.
379 12%
Microfinance.
Entrepreneurs and Self-employeed.
2 -
Issuer of Visa and MasterCard credit cards.
Cross-selling to current clients and to open market clients.
166 5%
Total 3,248 100%
Insurance (casualty, life, burial, purchase).
Issuer of debit cards associated with saving accounts and time deposits, for retired people and pensioners.
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