Financial Data and Key Metrics Changes - Grupo Galicia reported a net income of ARS 196 billion for 2025, which is 91% lower than the previous year, resulting in a 0.4% return on average assets and a 2.5% return on average shareholders' equity [5][6] - Excluding integration expenses, the adjusted net income would have been ARS 333 billion, leading to a return on equity (ROE) of 4.2% [6] - The financial margin was negatively impacted by changes in reserve requirement regulations and a significant increase in interest rates, affecting the cost of funding [8] Business Line Data and Key Metrics Changes - Banco Galicia recorded a net loss of ARS 104 billion, while Naranja X reported a loss of ARS 49 billion; however, Galicia Asset Management and Galicia Seguros posted profits of ARS 36 billion and ARS 27 billion respectively [7] - The deterioration in asset quality was primarily due to an increase in delinquency rates in the retail loan portfolio, with non-performing loans (NPLs) rising to 14.3% from 3.2% at the end of the previous year [11][13] - The average interest-earning assets reached ARS 25 trillion, a 3% increase from the previous quarter, driven by a 9% increase in dollar-denominated loans [9] Market Data and Key Metrics Changes - Private sector dollar-denominated deposits amounted to $36.4 billion in December 2025, reflecting an 11.7% increase during the quarter and a 14.6% increase year-over-year [5] - The bank's estimated market share of loans to the private sector was 14.3%, down 50 basis points from the previous quarter, while the market share of deposits was 16.2%, down 20 basis points [13] Company Strategy and Development Direction - The company aims to maintain and potentially increase its market share, focusing on a gradual growth strategy with expectations of 25% loan growth for 2026, albeit at a slower pace in the first half of the year [16][23] - The bank is focusing on commercial lending, particularly in sectors such as agribusiness, oil and gas, and automotive, while being cautious about sectors that are not performing well [73][75] Management's Comments on Operating Environment and Future Outlook - Management believes Argentina is entering a phase of stability with a more predictable policy framework, expecting GDP growth of 3.7% and inflation at 23% for 2026 [16] - The management anticipates that NPLs will peak in March 2026, with a subsequent decrease in credit loss charges expected in the first quarter of 2026 [17][32] - The company is optimistic about improving profitability in 2026, with a projected ROE in the low double digits, between 10% and 11% [18][46] Other Important Information - The bank's total regulatory capital ratio reached 25.2%, increasing 310 basis points from the previous quarter, indicating a strong capital position [14] - The company expects a reduction in administrative expenses by around 10%-11% year-over-year, excluding one-off costs from the previous year [40] Q&A Session Summary Question: 2026 guidance on deposit growth - Management confirmed that deposit growth is expected to be between 15% and 20% [21] Question: Changes in growth strategy and market share - Management aims to defend and potentially increase market share, with a slower growth pace anticipated in the first half of the year [23][24] Question: Cost of risk and credit quality improvement - Management expects the cost of risk to decrease, projecting an end-of-year target of 8% for 2026 [35] Question: Restructuring or acquisition costs - Management indicated that one-off costs are largely behind, focusing on normal operations moving forward [39] Question: Growth expectations in specific segments - Management expects more growth in the commercial portfolio, particularly in agribusiness and oil and gas sectors [73][75]

Financial Data and Key Metrics Changes - Grupo Galicia reported a net income of ARS 196 billion for 2025, which is 91% lower than the previous year, resulting in a 0.4% return on average assets and a 2.5% return on average shareholders' equity [5][6] - Excluding integration expenses, the adjusted net income would have been ARS 333 billion, leading to a return on equity (ROE) of 4.2% [6] - The financial margin was negatively impacted by changes in reserve requirement regulations and a significant increase in interest rates, affecting the cost of funding [8] Business Line Data and Key Metrics Changes - Banco Galicia recorded a net loss of ARS 84 billion in the fourth quarter, with losses attributed to asset quality deterioration [7] - Galicia Asset Management and Galicia Seguros reported profits of ARS 36 billion and ARS 27 billion respectively, while Naranja X incurred a loss of ARS 49 billion [7] - The bank's estimated market share of loans to the private sector was 14.3%, down 50 basis points from the previous quarter, while the market share of deposits was 16.2%, down 20 basis points [13] Market Data and Key Metrics Changes - The average exchange rate in December 2025 was ARS 1,448 per dollar, reflecting a 29.5% year-on-year depreciation [3] - Private sector dollar-denominated deposits amounted to $36.4 billion, increasing by 11.7% during the quarter and 14.6% year-over-year [5] - The average interest rate on peso-denominated private sector time deposits was 26.6%, down 6.4 percentage points from December 2024 [4] Company Strategy and Development Direction - The company aims to maintain and potentially increase its market share, focusing on commercial lending while managing asset quality [23][24] - The strategy includes targeting sectors such as agribusiness, oil and gas, and automotive for growth opportunities [73] - The company expects to see a gradual improvement in profitability during 2026, with a projected ROE in the low double digits [18][48] Management's Comments on Operating Environment and Future Outlook - Management believes Argentina is entering a phase of stability with a more predictable policy framework, expecting GDP growth of 3.7% and inflation at 23% for 2026 [16] - The peak of non-performing loans (NPLs) is anticipated in March 2026, with expectations of a decrease in credit loss charges thereafter [17] - Management expressed confidence in achieving both growth and improved ROE, contingent on economic conditions [46] Other Important Information - The bank's total regulatory capital ratio reached 25.2%, increasing 310 basis points from the previous quarter [14] - The coverage ratio with allowances was 97.4%, down from 101.5% in the previous quarter [14] - The company plans to propose a dividend payment of ARS 190 billion, subject to central bank approval [18] Q&A Session Summary Question: 2026 guidance on deposit growth - Management indicated that deposit growth is expected to be between 15% and 20% [21] Question: Changes in growth strategy and market share - Management aims to defend and potentially increase market share, with a slower growth pace expected in the first half of 2026 [23][24] Question: Cost of risk and credit quality improvement - Management expects the cost of risk to decrease, projecting an end-of-year rate of 8% for 2026 [35] Question: Restructuring or acquisition costs - Management stated that one-off costs are largely behind, with a focus on improving efficiency [39] Question: Growth expectations in specific segments - Management anticipates more growth in the commercial portfolio, particularly in agribusiness and oil and gas sectors [73]

Financial Data and Key Metrics Changes - Grupo Financiero Galicia reported a net income of ARS 196 billion for 2025, which is 91% lower than the previous year, resulting in a 0.4% return on average assets and a 2.5% return on average shareholders' equity [5][6] - Excluding integration expenses, the adjusted net income would have been ARS 333 billion, leading to a return on equity (ROE) of 4.2% [6] - The financial margin was negatively impacted by changes in reserve requirement regulations and a significant increase in interest rates, affecting funding costs [7][10] Business Line Data and Key Metrics Changes - Profits from Galicia Asset Management amounted to ARS 127 billion, Naranja X contributed ARS 59 billion, and Galicia Seguros provided ARS 40 billion, while Banco Galicia reported a loss of ARS 70 billion [6] - In the fourth quarter, Banco Galicia recorded a net loss of ARS 84 billion, with significant losses from Naranja X and Banco Galicia, while Galicia Asset Management and Galicia Seguros posted profits [6][10] - The bank's estimated market share of loans to the private sector was 14.3%, down 50 basis points from the previous quarter, and the market share of deposits was 16.2%, down 20 basis points [12] Market Data and Key Metrics Changes - Private sector dollar-denominated deposits reached $36.4 billion, increasing by 11.7% during the quarter and 14.6% year-over-year [5] - Peso-denominated loans to the private sector averaged ARS 87.6 trillion, showing a 10.4% quarterly increase and a 73% year-over-year rise [5] - The average interest rate on peso-denominated private sector time deposits was 26.6%, down 6.4 percentage points from December 2024 [4] Company Strategy and Development Direction - The company aims to maintain and potentially increase its market share, focusing on a gradual growth strategy with expectations of loan growth at 25% for 2026, albeit with a slower pace in the first half of the year [14][21] - The bank is focusing on improving efficiency ratios and capturing benefits from restructuring after the HSBC acquisition [15][38] - The company anticipates a stable macroeconomic environment in Argentina, with GDP growth projected at 3.7% and inflation at 23% for 2026 [14] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about Argentina entering a phase of stability and a more predictable policy framework, which is expected to support investment and economic development [14] - The management expects non-performing loans (NPLs) to peak in March 2026, with a decrease in credit loss charges anticipated in the first quarter of 2026 [15] - The company maintains a ROE guidance for 2026 in the low double digits, between 10% and 11% [16] Other Important Information - The coverage ratio with allowances reached 97.4%, down from 101.5% in the previous quarter [12] - The total regulatory capital ratio was 25.2%, increasing by 310 basis points from the previous quarter [13] - The company proposed a dividend payment of ARS 190 billion, subject to central bank approval [16] Q&A Session Summary Question: Follow-up on 2026 guidance for deposits - Management confirmed that deposit growth is expected to be between 15% and 20% [19] Question: Changes in growth strategy and market share - Management aims to defend and potentially increase market share, with a slower growth pace in the first half of the year [21] Question: Comfort on credit quality improvement and loan growth - Management believes that the economic cycle is passing and expects improvements in credit quality and loan growth in the second half of the year [30] Question: Cost of risk expectations - Management projects the cost of risk to end the year at around 8%, down from 12.5% in the last quarter [32] Question: Restructuring or acquisition costs - Management indicated that one-off costs are largely behind, with a focus on improving efficiency [37] Question: Growth expectations in specific segments - Management expects more growth in the commercial portfolio, particularly in agribusiness, oil and gas, and mining sectors [72]

4Q25 IFS earnings presentation is.com.pe 2025 k ey messages 1 3 Solid performance across businesses +49 % YoY FY25 net profit 1,943 FY25 Net income IFS S/ mn 4 Strengthening primary banking relationships +11% +14% YoY retail primary banking customers 5 Insurance delivering solid double -digit growth + YoY written Higher -yielding loans continue positive trend +8 % YoY Improving risk - adjusted NIM 2.3 % CoR banking FY25 3.7 % FY25 Risk-adjusted NIM 3.1% Cost of funds FY25 61 premiums % WM continues to deliv ...

Financial Data and Key Metrics Changes - The tangible book value per share plus dividends increased by 17% year over year and 4.5% quarter over quarter [3] - The net attributable profit exceeded €2.5 billion, although it decreased compared to the previous quarter due to higher inflation in Turkey and one-off positive impacts in the second quarter [4] - The CET1 capital ratio improved by 8 basis points to 13.42%, providing capacity for increased shareholder remuneration [5] - Cumulative profits for the first nine months reached almost €8 billion, a 4.7% increase year over year [5] Business Line Data and Key Metrics Changes - Core revenues showed strong growth, with net interest income and fees growing 18% and 15% year over year, respectively [6] - In Spain, net interest income grew by 3.2% quarter on quarter, driven by strong loan growth in profitable segments [18] - In Mexico, net interest income grew by 3.3% quarter on quarter, supported by robust lending activity [21] - Turkey's net attributable profit increased by nearly 50% year over year, driven by higher core revenues [23] Market Data and Key Metrics Changes - Loan growth in Spain accelerated to 7.8% year over year, while Mexico's loan growth was 9.8% year over year [9] - The cost of risk in Mexico improved, with expectations to remain below 340 basis points [23] - The cumulative cost of risk in South America stood at 243 basis points, in line with full-year guidance [26] Company Strategy and Development Direction - The company aims to resume shareholder remuneration programs, including a nearly €1 billion share buyback program and a record interim dividend of €0.32 per share [15] - The strategic focus includes acquiring new customers, with 8.7 million new customers acquired in the first nine months of 2025, 66% through digital channels [16] - The company plans to double its Corporate & Investment Banking (CIB) business over the next four years, targeting a revenue growth of around 20% [70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future revenue and profit growth, citing stability in customer spreads and strong loan growth [12] - The company expects interest rates to stabilize, with limited room for further cuts, which will support core revenue growth [11] - The management highlighted the resilience of the Mexican economy, with an upward revision of GDP growth forecast to 0.7% for 2025 [21] Other Important Information - The company reported a solid efficiency ratio of 38.2%, improving from the previous year [12] - The asset quality metrics showed improvement, with the cost of risk standing at 135 basis points, better than guidance [13] Q&A Session Summary Question: Loan book growth in Spain and cost of risk in Mexico - Management noted that corporate loan growth in Spain is strong, particularly in mid-sized companies, while mortgage growth is below average due to pricing concerns [34] - The cost of risk in Mexico is expected to improve, with positive macro adjustments influencing guidance [37] Question: Sabadell transaction and capital distribution outlook - Management closed the chapter on the Sabadell transaction, viewing it as a missed opportunity but focusing on future growth [44] - The capital target is set at 11.5% to 12%, with plans to distribute excess capital back to shareholders [46] Question: Margins in Spain and Mexico - Management indicated that customer spreads in Spain are stabilizing, with expectations for continued resilience in Mexico despite falling interest rates [53][56] Question: Group costs and CIB ambitions - Management emphasized a focus on cost-to-income ratios and aims to double the CIB business over the next four years [66][70] Question: Competitive landscape in Mexico - Management acknowledged increased competition but highlighted BBVA's strengths, including strong customer relationships and market positioning [74]

Summary of Banco de Sabadell Capital Markets Day Company Overview - **Company**: Banco de Sabadell - **Event**: Capital Markets Day held on July 24, 2025 - **Key Speakers**: CEO Cesar Gonzalez Bueno, CFO Sergio Palabestino Core Industry Insights - **Economic Context**: Spain's economy is expected to grow above its peers, with GDP growth projected at around 2% and inflation at 2% over the next three years [doc id='62'][doc id='63'] - **Banking Sector Growth**: Private sector credit and deposits are expected to grow at a CAGR of 4%, aligning with nominal GDP growth [doc id='64'] Strategic Pillars 1. **Profitability and Capital Generation**: - Net profit increased from €200 million to €1.6 billion from 2021 to 2024, with a target return on tangible equity (ROTE) of 16% by 2027 [doc id='4'][doc id='5'] - Capital generation is expected to improve significantly post the sale of TSB, with an extraordinary distribution of 400 basis points anticipated [doc id='7'] 2. **Growth Strategy**: - Focus on prudent growth in Spain, with moderate market share gains while ensuring value generation [doc id='8][doc id='9'] - Projected growth in household lending and corporate lending at around 4% [doc id='12'] 3. **Execution and Risk Management**: - Enhanced risk models and pricing strategies to improve customer experience and conversion rates [doc id='13'][doc id='14'] - Significant improvements in the quality of risk acceptance, with a 60% reduction in consumer loan defaults [doc id='19] Financial Performance and Projections - **2025 Guidance**: - Expected net interest income (NII) of €3.6 billion, with fees and commissions projected to grow mid-single digits [doc id='75'] - Cost of risk guidance improved to 35 basis points, reflecting strong asset quality [doc id='74] - **Long-term Projections**: - NII expected to reach €3.9 billion by 2027, with a continued focus on maintaining a healthy cost of risk at 40 basis points [doc id='76'] - ROTE projected to be 16% by 2027, driven by improved asset quality and cost management [doc id='77] Shareholder Value Creation - **Capital Distribution**: - Total expected distribution of €6.3 billion over three years, including an extraordinary dividend of €2.5 billion from the sale of TSB [doc id='60] - Commitment to a 60% payout ratio, with cash dividends expected to increase in 2025, 2026, and 2027 [doc id='61] Key Risks and Considerations - **Market Conditions**: - Interest rates are expected to normalize, with ECB rates projected to stabilize around 2% by mid-2027 [doc id='65] - The bank's funding structure is robust, with a high percentage of non-remunerated deposits, which helps manage cost dynamics [doc id='70] Additional Insights - **Digital Transformation**: - Significant investments in digital capabilities to enhance customer engagement and operational efficiency [doc id='14][doc id='48] - The bank's digital customer base is growing, with increased engagement metrics [doc id='48] - **Incentive Structures**: - New incentive models focused on value creation and capital generation are being implemented to align employee performance with strategic goals [doc id='50][doc id='55] This summary encapsulates the key points discussed during Banco de Sabadell's Capital Markets Day, highlighting the company's strategic direction, financial performance, and outlook for the future.