Exhibit 99.1
Grupo Financiero Galicia S.A.
CUIT: 30-70496280-7
October 1, 2020
Buenos Aires
To: Comisión Nacional de Valores (Argentine National Securities Commission)
Re: Notice of Material Event
To whom it may concern,
We are writing in order to inform you that Banco de Galicia y Buenos Aires S.A.U. (the “Bank”), a subsidiary of Grupo Financiero Galicia S.A., received a notification regarding the filing of a class action lawsuit challenging certain interest rates applied in respect of automatically renewable time deposits that are charged at the moment of such renewal.
The class action lawsuit (file number 32.213/2019) was filed by the Asociación para la Defensa de Usuarios y Consumidores (the “ADUC”), a local Argentine association focused on general consumer defense matters. The class action lawsuit was filed before the National Court of First Instance in Commercial Matters No. 8, Secretariat No. 16.
The Bank is analyzing the content and implications of the class action lawsuit. In the event of an unfavorable resolution of the dispute described herein, the Bank does not believe that such unfavorable resolution will have a significant impact on the Bank´s shareholders’ equity.
Yours faithfully,
A. Enrique Pedemonte
Attorney in fact
This constitutes an unofficial English translation of the original Spanish document.
The Spanish document shall govern all respects, including interpretation matters.