Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell even higher, with the expectation that established trends will continue [1] Company Overview: Grupo Financiero Galicia (GGAL) - GGAL currently holds a Momentum Style Score of B, indicating a positive outlook based on price changes and earnings estimate revisions [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Performance Metrics - Over the past week, GGAL shares increased by 3.48%, outperforming the Zacks Banks - Foreign industry, which rose by 1.99% [6] - In a longer timeframe, GGAL's shares have surged by 52.58% over the past quarter and 218.51% over the last year, while the S&P 500 only increased by 4.57% and 31.09%, respectively [7] Trading Volume - GGAL's average 20-day trading volume is 1,212,776 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, one earnings estimate for GGAL has increased, raising the consensus estimate from $4.60 to $7.54 [10] - For the next fiscal year, one estimate has also moved upwards, with no downward revisions noted [10]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling even higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Grupo Financiero Galicia (GGAL) currently holding a Momentum Style Score of A [2] Group 2: Performance Metrics - GGAL has a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperformance in the market [3] - Over the past week, GGAL shares increased by 12.95%, significantly outperforming the Zacks Banks - Foreign industry, which rose by only 0.57% [5] - In the last quarter, GGAL shares rose by 19.29%, and over the past year, they have surged by 157.13%, while the S&P 500 only increased by 3.12% and 23.92%, respectively [6] Group 3: Trading Volume and Earnings Outlook - GGAL's average 20-day trading volume is 1,237,474 shares, indicating a bullish sign with rising stock prices [7] - In terms of earnings estimates, GGAL's consensus estimate increased from $4.60 to $10.42 over the past 60 days, with one upward revision and no downward revisions for the current fiscal year [9]

Core Viewpoint - Grupo Financiero Galicia (GGAL) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks rating system is based on the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts for the current and following years [2]. - The Zacks Consensus Estimate for Grupo Financiero Galicia has increased by 126.5% over the past three months, with expected earnings of $10.42 per share for the fiscal year ending December 2024, representing a year-over-year change of 19.5% [9]. Impact of Earnings on Stock Prices - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [5]. - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, leading to buying or selling actions that affect stock prices [5]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of Grupo Financiero Galicia to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for higher stock prices in the near term [11].

Funding and Financial Position - As of December 31, 2023, total funding amounted to Ps.10,216,058 million, a decrease from Ps.10,488,176 million in 2022[984] - Deposits represented 56% of total funding as of December 31, 2023, down from 64% in 2022, with a 14% decrease in the deposit base[987] - Time deposits decreased significantly from Ps.2,636,766 million in December 2022 to Ps.1,160,459 million in December 2023, a reduction of Ps.1,476,307 million[987] - Outstanding debt securities as of December 31, 2023, were Ps.298,328 million, a decrease of 15% from Ps.350,982 million in 2022[989] - The total amount of financing from local financial institutions was Ps.102,023 million, with Ps.94,611 million corresponding to agreements with banks[988] - As of December 31, 2023, shareholders' equity was Ps.2,017,244 million, representing 20% of total funding[984] - The breakdown of debt securities included Ps.71,059 million in Peso-denominated debt and Ps.227,269 million in foreign currency-denominated debt[991] - Total contractual obligations as of December 31, 2023, amount to 1,636,280 million Pesos, with 1,426,799 million Pesos due in less than one year[1008] Income and Cash Flow - In fiscal year 2023, net cash generated by operating activities amounted to Ps.1,667,301 million, a decrease of 7.1% compared to Ps.1,794,287 million in 2022[1076] - Net cash used in investing activities in 2023 was Ps.81,858 million, primarily due to the acquisition of property, plant, and equipment for Ps.74,019 million[1083] - Net cash generated in financing activities in 2023 was negative at Ps.229,764 million, with significant payments of Ps.373,780 million on loans from local financial institutions[1087] - The effect of the exchange rate on consolidated cash flow in 2023 was Ps.1,034,032 million, an increase of 84.5% compared to Ps.559,889 million in 2022[1090] - Cash and cash equivalents at the end of 2023 were Ps.3,267,340 million, down from Ps.4,131,561 million at the end of 2022[1076] - The company reported a monetary loss related to cash and cash equivalents of Ps.3,253,932 million in 2023, compared to Ps.2,142,478 million in 2022[1076] - Income before taxes from continuing operations in 2023 was Ps.543,010 million, significantly higher than Ps.204,099 million in 2022[1079] - The company experienced a net increase in cash generated from net loans and other financing to the non-financial private sector of Ps.584,705 million in 2023[1079] Strategic Initiatives and Market Outlook - Banco Galicia aims to strengthen its market leadership by focusing on product quality and operational efficiency[1031] - The company anticipates an increase in financial income in 2024 due to expected real interest rate increases[1034] - Fee income is projected to rise in 2024 due to efficiencies generated in business lines, despite regulatory price limitations[1036] - The ongoing digital transformation is expected to enhance efficiency and stabilize administrative expenses compared to the previous year[1038] - Banco Galicia's liquidity and solvency levels are sufficient to cope with potential macroeconomic challenges in 2024[1039] - Naranja X faces challenges due to Argentina's economic volatility, with potential drops in transaction volumes and service revenue expected in 2024[1040] - The company aims to enhance sales and billing volumes while maintaining adequate profitability levels through strategic initiatives[1046] - Grupo Financiero Galicia plans to continue expanding its business through Banco Galicia and Naranja X's customer channels, focusing on new product offerings[1044] Governance and Compliance - The Board of Directors consists of 15 members, with 2 female and 13 male directors, reflecting a gender diversity ratio of approximately 13.3% female representation[1137] - The Audit Committee held twelve meetings during 2023, ensuring compliance with CNV and Nasdaq requirements[1140] - The Executive Committee is responsible for strategic planning and risk assessments, comprising members including Eduardo J. Escasany and Pablo Gutiérrez[1141] - The Nomination and Compensation Committee consists of 5 regular directors, including 2 independent directors, focusing on succession planning and compensation standards[1143] - The company has established a Disclosure Committee to review and approve controls on public financial disclosures, in compliance with the U.S. Sarbanes-Oxley Act[1144] - The Supervisory Committee is composed of three syndics and three alternate syndics, responsible for ensuring compliance with Argentine law and analyzing financial statements[1145] - The company has a strong emphasis on ethics and integrity, monitored by the Ethics, Conduct and Integrity Committee, chaired by independent director Miguel Maxwell[1142] - The Audit Committee includes members with extensive management experience, ensuring financial literacy and oversight of internal controls[1139] Organizational Structure and Leadership - Banco Galicia's organizational structure includes a CEO reporting to the Board of Directors, with key officers in finance, risk, and investor relations[1154] - The company has a diverse board, with no underrepresented individuals or LGBTQ+ members disclosed[1137] - The regular and alternate directors are elected for a maximum term of three years, ensuring governance accountability[1134] - The board of directors of Banco Galicia consists of seven members and three alternate directors, with terms expiring between April 2025 and April 2027[1164] - Sergio Grinenco has been the Chairman of the Board since April 2012, with his current term ending in April 2026[1166] - Raúl Héctor Seoane serves as Vice Chairman and has been with Banco Galicia since 1988, also with a term ending in April 2026[1169] - The Chief Executive Officer, Mr. Fabián Kon, has been in his position since July 2020 and previously served as the CEO of Galicia Seguros[1160] - The Chief Financial Officer & Compliance Officer, Mr. Diego Rivas, was appointed in May 2021 and has been associated with Banco Galicia since 1987[1161] - The Chief Risk Officer, Mr. Bruno Folino, has been with Banco Galicia since 1997 and was appointed to his current role in May 2021[1162] - The Investor Relations Officer, Mr. Pablo Firvida, has extensive experience in investor relations and was appointed in July 2020[1163]

Natalia SO/iStock Editorial via Getty ImagesArgentina’s banking system has long been a fragmented one, with no major bank, not even the state-owned Banco Nacion, holding a dominant share of system assets. But ongoing economic turbulence and the rise of a new economic regime under President Javier Milei mark a potential step-change in future industry dynamics. Last week’s exit by HSBC Holdings plc (HSBC) from Argentina, coming on the heels of a similar move by Itaú Unibanco (ITUB) last year, only reinfor ...

Table of Contents AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 24, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 20-F __________________________ (Mark One) o Registration Statement pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 or x Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2022 or o Transition report pursuant to Section 13 ...

Table of Contents AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 25, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20–F (Mark One) ☐ Registration Statement pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 or ☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or ☐ ...

Table of Contents AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 23, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20–F (Mark One) ☐ Registration Statement pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 or ☒ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2020 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 or ☐ ...

Table of Contents AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 29, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20–F (Mark One) Commission File Number 000-30852 GRUPO FINANCIERO GALICIA S.A. (Exact name of Registrant as specified in its charter) GALICIA FINANCIAL GROUP (Translation of Registrant's name into English) REPUBLIC OF ARGENTINA (Jurisdiction of incorporation or organization) Grupo Financiero Galicia S.A. Tte. Gral. Juan D. Perón 430, 25th floor ...

Grupo Financiero Galicia SA (NASDAQ:GGAL) Q3 2019 Earnings Conference Call November 12, 2019 11:00 AM ET Company Participants Pablo Firvida - Institutional Relations Manager Conference Call Participants Gabriel Nóbrega - Citigroup Alanso Garcia - Crédit Suisse Yuri Fernandes - JPMorgan Chase & Co. Carlos Gomez - HSBC Operator Welcome to the Grupo Financiero Galicia Third Quarter 2019 Earnings Release Conference Call. This call is being recorded. At this time, I would like to turn the call over to Pablo Firv ...