Grupo Financiero Galicia S.A. (GGAL)

Grupo Financiero Galicia Income Statement

Financials in millions ARS. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	3,966,583	4,754,293	2,228,515	565,230	252,651	177,671
Total Interest Income	3,966,583	4,754,293	2,228,515	565,230	252,651	177,671
Interest Paid on Deposits	759,781	3,026,607	1,757,525	352,366	136,851	130,254
Total Interest Expense	759,781	3,026,607	1,757,525	352,366	136,851	130,254
Net Interest Income	3,206,802	1,727,686	470,990	212,864	115,800	47,417
Net Interest Income Growth (YoY)	17.34%	266.82%	121.26%	83.82%	144.21%	-7.61%
Gain (Loss) on Sale of Assets	-	-	-	-	-	7,933
Other Non-Interest Income	1,474,087	1,743,551	1,820,845	392,386	211,257	170,477
Total Non-Interest Income	1,474,087	1,743,551	1,820,845	392,386	211,257	178,410
Non-Interest Income Growth (YoY)	-51.84%	-4.24%	364.04%	85.74%	18.41%	107.81%
Revenues Before Loan Losses	4,680,889	3,471,237	2,291,835	605,250	327,057	225,827
Provision for Loan Losses	380,002	186,666	161,399	42,426	47,224	25,079
Revenue	4,300,887	3,284,571	2,130,435	562,824	279,833	200,748
Revenue Growth (YoY)	-21.08%	54.17%	278.53%	101.13%	39.39%	79.08%
Salaries and Employee Benefits	411,388	356,139	301,727	90,470	48,037	33,285
Occupancy Expenses	76,413	84,431	86,812	28,240	12,504	6,895
Selling, General & Administrative	267,045	209,300	205,917	65,437	36,015	26,054
Other Non-Interest Expense	2,389,018	2,137,891	1,319,337	281,394	111,876	83,878
Total Non-Interest Expense	3,141,454	2,784,831	1,915,492	465,689	208,621	150,112
EBT Excluding Unusual Items	1,159,433	499,740	214,944	97,136	71,212	50,636
Asset Writedown	137,539	41,983	5,366	32.2	220.44	298.8
Other Unusual Items	-	-	-	-	-566.5	-457.76
Pretax Income	1,296,972	541,723	220,310	97,168	70,866	50,477
Income Tax Expense	496,722	205,492	60,059	33,025	31,596	20,558
Earnings From Continuing Operations	800,249	336,231	160,251	64,143	39,270	29,920
Minority Interest in Earnings	96.72	13.22	-0.03	-	-512.15	-152.91
Net Income	800,346	336,244	160,251	64,143	38,758	29,767
Net Income to Common	800,346	336,244	160,251	64,143	38,758	29,767
Net Income Growth	32.62%	109.82%	149.84%	65.50%	30.21%	-
Basic Shares Outstanding	1,475	1,475	1,475	1,475	1,443	1,427
Diluted Shares Outstanding	1,475	1,475	1,475	1,475	1,443	1,427
Shares Change (YoY)	-	-	-	2.21%	1.12%	-
EPS (Basic)	542.72	228.01	108.67	43.50	26.86	20.86
EPS (Diluted)	542.72	228.01	108.67	43.50	26.86	20.86
EPS Growth	32.62%	109.82%	149.84%	61.93%	28.76%	-
Dividend Per Share	-	-	26.446	7.460	1.020	1.190
Dividend Growth	-	-	254.51%	631.37%	-14.29%	-15.11%
Effective Tax Rate	38.30%	37.93%	27.26%	33.99%	44.59%	40.73%

Source: S&P Capital IQ. Banks template. Financial Sources.