Banco Galicia Investor Presentation March 2014
Agenda »The Argentine Financial System »Banco Galicia »Annex 2
Sustained Growth in Financial Intermediation CAGR: 22.3% CAGR: 26.9% (*) Jan-14 vs. Jan-13 variation. CAGR: Dec-02 / Jan-14. As of January 31, 2014. 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. As of December, 2011. The World Bank. As of December, 2011. The World Bank. 5
Increase in Interest Rates BADLAR Private Banks (1) (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. 6
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 Market Share Market Share Number Private-Sector Number Private-Sector Deposits (%) Deposits (%) Banking Institutions 86 86 100 100 65 65 100 100 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 8
Improvement in Asset Composition and in Loan Portfolio Quality (*) Not including Central Bank Paper. As of December 31, 2013. 9
Improvement in Profitability As of December 31, 2013. 10
Agenda »The Argentine Financial System »Banco Galicia »Annex 11
Simplified Organizational Structure EBA HOLDING 57.98% Votes 21.63% Shares 99.6% 87.5% 12.5% Insurance 77% 97% 3% 5% 95% 100% 100% 95% 5% Collection Processing 24% TNP Perú 12
Banco Galicia in Numbers December 2013 (Consolidated figures) US$ bn. Ps. bn. (6.52 Ps./US$) Assets 82.2 12.6 Net Loans 55.3 8.5 Deposits 51.4 7.9 Equity 6.7 1.0 Branches Employees Clients (*) Number of Bank 261 5,487 2,801 Reg. Credit-Card Cos. 204 5,668 4,552 (**) CFA 95 1,170 536 560 560 12,325 7,889 Total (*) In thousands. (**) 59 branches and 36 offices. 13
One of the Largest Banks Market share of Market share of loans to the private-sector (1) private-sector deposits (P) (P) Galicia (2) (P) Galicia (P) (P) (P) TOP 10 = 76 % TOP 10 = 70 % (1) Includes securitized loans and leasing. (2) Considering CFA, the Bank’s market share of loans to the private -sector would be 9.0%. Source: Argentine Central Bank. (P) Goverment owned banks As of October 31, 2013. 14
Peer Comparison +T.Reg.+CFA +T.Reg.+CFA +T.Reg.+CFA (1) Includes securitized loans and leasing. Source: Argentine Central Bank (except for the regional credit-card companies). As of October 31, 2013. 15
Competitive Environment Source: Argentine Central Bank. As of October 31, 2013. 16
Breakdown of Loans to the Private Sector Bank: Ps. 41.7 billion Consolidated: Ps. 57.4 billion As of December 31, 2013. 17
Loan Portfolio by Maturity Maturing within 1 year: 83.0%. US$-denominated loans: 5.1%. Consolidated figures, as of December 31, 2013. 18
Funding Sources (non consolidated) (*) Includes among other: repos, financial institutions, collections on account of third parties, debt with merchants. CAGR: 29% As of December 31, 2013. US$ -denominated deposits: 7.2%. 19
Asset Quality Acquisition of CFA As of December 31, 2013. 20
Excess Regulatory Capital and Total Capital Ratio Minimum Requirement Ps. 5.7 bn Regulatory Capital Ps. 7.5 bn Excess Capital Ps. 1.8 bn / 32.0% Total Capital Ratio (%) Banco Galicia consolidated. As of December 31, 2013. 21
Strong Profitability 22
Agenda »The Argentine Financial System »Banco Galicia »Annex 23
Consolidated Income Statement 13% 2013 41% 62% 100% 59% 1% 10% 16% Net Other Net Income Net Financial Operating Net Charge for Income Tax Net Income Administrative Income/Losses Income Income Loan Losses from Services Expenses Variation 2012 % Change 34 33 34 18 28 -77 49 41 24
Consolidated Income Statement 13% 4Q13 39% 57% 100% 61% 0% 12% 18% Net Financial Net Income Operating Administrative Net Other Net Charge for Income Tax Net Income Income from Services Income Expenses Income/Losses Loan Losses Variation 3Q13 % Change 16 4 11 29 3 -69 26 15 Variation 4Q12 % Change 50 28 41 -11 24 -100 101 68 25
Volume Growth & Productivity Improvement Variation Abs. % Dec-02 Dec-13 ·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. 26
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. 2012 2013 In millions of Ps. Assets 9,629 13,393 Loans 8,957 11,988 Net Worth 1,859 2,366 Net Income 524 524 636 636 ROE 31.8% 31.0% 27
CFA | Efectivo Sí » 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). 2012 2013 In millions of Ps. Assets 3,167 3,699 Loans 2,448 3,248 Net Worth 994 1,037 Net Income 216 143 ROE 23.1% 14.2% 28
Lines of Business December 2013 (In millions of Ps. except percentages). It does not include accrued interest. Cash loans. 2,245 69% Granted in branches. Pay ayroll ll loans. 456 14% Government employees, pensioners, military and members of mutuals. Loans for the the acquisit isitio ion of goods. 379 12% Granted through retail merchants associated with CFA. Microfin inanc ance. 2 - Entrepreneurs and Self-employeed. Issu suer of Visa and MasterCar erCard credit dit cards. 166 5% Cross-selling to current clients and to open market clients. Total 3,248 100% Issu suer of debit cards associat iated ed with sav avin ing accounts and time depo posit sits, , for ret etir ired people ple and pensione sioners. Insu suran ance (casu sualty alty, , life, , burial al, , purchase ase). ). 29
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