Cover
Cover | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Trading Symbol | GGAL |
Entity Registrant Name | GRUPO FINANCIERO GALICIA SA |
Entity Central Index Key | 0001114700 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Title of 12(b) Security | Ordinary shares |
Security Exchange Name | NASDAQ |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | AR |
ICFR Auditor Attestation Flag | true |
Class A ordinary shares [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 281,221,650 |
Class B ordinary shares [member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 1,193,470,441 |
American Depository Shares [Member] | |
Document Information [Line Items] | |
Trading Symbol | GGAL |
Title of 12(b) Security | American Depositary Shares |
Security Exchange Name | NASDAQ |
CONSOLIDATED STATEMENT OF FINAN
CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and Due from Banks | $ 175,423,476 | $ 177,866,399 |
Cash | 66,932,871 | 71,784,839 |
Financial Institutions and Correspondents | 108,490,605 | 106,081,560 |
Argentine Central Bank (BCRA) | 102,597,603 | 102,843,651 |
Other, Local and Foreign Financial Institutions | 5,893,002 | 3,237,909 |
Debt Securities at fair value through profit or loss | 155,419,560 | 89,431,378 |
Derivative Financial Instruments | 2,165,032 | 3,170,815 |
Repurchase Transactions | 60,995,643 | 40,944,933 |
Other Financial Assets | 10,093,626 | 14,860,200 |
Loans and Other Financing | 526,434,119 | 488,144,152 |
Non-financial Public Sector | 334 | 9,297 |
Argentine Central Bank (BCRA) | 13,195 | 30,460 |
Other Financial Institutions | 14,700,600 | 14,697,129 |
To the Non-financial Private Sector and Residents Abroad | 548,953,562 | 508,591,528 |
Allowances | (37,233,572) | (35,184,262) |
Other Debt Securities | 23,070,377 | 25,893,436 |
Financial Assets Pledged as Collateral | 18,717,443 | 15,725,036 |
Current Income Tax Assets | 197,094 | 55,141 |
Investments in Equity Instruments | 5,711,684 | 6,200,459 |
Equity investments in Associates and Joint Ventures | 89,142 | 0 |
Property, Plant and Equipment | 43,731,420 | 44,877,360 |
Intangible Assets | 14,468,821 | 11,834,308 |
Deferred Income Tax Assets | 9,212,595 | 3,821,378 |
Assets for Insurance Contracts | 1,885,390 | 1,608,517 |
Other Non-financial Assets | 7,634,427 | 8,782,988 |
Non-current Assets Held for Sale | 29,328 | 53,106 |
Total Assets | 1,055,279,177 | 933,269,606 |
Liabilities | ||
Deposits | 676,395,735 | 536,033,696 |
Non-financial Public Sector | 21,537,481 | 2,631,790 |
Financial Sector | 1,947,127 | 613,904 |
Non-financial Private Sector and Residents Abroad | 652,911,127 | 532,788,002 |
Liabilities at fair value through Profit or Loss | 0 | 1,936,133 |
Derivative Financial Instruments | 57,450 | 1,199,533 |
Other Financial Liabilities | 97,471,465 | 97,153,624 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 13,833,439 | 30,936,161 |
Debt Securities | 17,073,898 | 39,808,666 |
Current Income Tax Liabilities | 15,227,474 | 14,042,235 |
Subordinated Debt Securities | 21,653,546 | 21,100,718 |
Provisions | 3,776,297 | 3,739,734 |
Deferred Income Tax Liabilities | 136,934 | 3,020,554 |
Liabilities for Insurance Contracts | 2,060,976 | 1,999,408 |
Other Non-financial Liabilities | 25,258,228 | 23,239,327 |
Total Liabilities | 872,945,442 | 774,209,789 |
Shareholders' Equity | ||
Capital Stock | 1,474,692 | 1,426,765 |
Paid-in capital | 17,281,187 | 10,951,132 |
Capital Adjustments | 61,548,313 | 60,622,637 |
Profit Reserves | 178,751,308 | 127,248,745 |
Retained Deficit | (102,255,270) | (77,955,542) |
Other Comprehensive Income | 341,829 | 551,139 |
Income / (Loss) for the Year | 25,191,673 | 32,276,377 |
Shareholders' Equity Attributable to Parent Company's Owners | 182,333,732 | 155,121,253 |
Shareholders' Equity Attributable to Non-controlling Interests | 3 | 3,938,564 |
Total Shareholders' Equity | $ 182,333,735 | $ 159,059,817 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME - ARS ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit or loss [abstract] | |||
Interest Income | $ 166,806,678 | $ 177,671,454 | $ 163,927,492 |
Interest Expense | (90,174,458) | (130,254,081) | (94,054,946) |
Net Income from Interest | 76,632,220 | 47,417,373 | 69,872,546 |
Fee Income | 46,475,432 | 47,846,733 | 51,093,837 |
Fee related Expenses | (9,917,873) | (9,613,497) | (6,337,505) |
Net Fee Income | 36,557,559 | 38,233,236 | 44,756,332 |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 69,331,902 | 99,151,496 | 36,341,509 |
Income from Derecognition of Assets Measured at Amortized Cost | (3,129) | 298,801 | 464,175 |
Exchange rate differences on gold and foreign currency | 7,047,447 | 11,831,452 | 7,910,257 |
Other Operating Income | 22,322,631 | 28,769,432 | 21,862,980 |
Income from Insurance Business | 5,501,807 | 5,000,869 | 6,009,167 |
Loan and other Receivables Loss Provisions | (34,679,749) | (30,227,668) | (34,136,247) |
Net Operating Income | 182,710,688 | 200,474,991 | 153,080,719 |
Personnel Expenses | (31,825,101) | (33,284,961) | (35,657,786) |
Administrative Expenses | (31,371,622) | (33,105,199) | (33,674,305) |
Depreciation and Impairment of Assets | (8,284,286) | (6,894,944) | (3,459,704) |
Other Operating Expenses | (30,763,761) | (35,082,818) | (35,391,431) |
Loss on net monetary position | (36,963,213) | (41,928,902) | (37,830,439) |
Operating Income | 43,502,705 | 50,178,167 | 7,067,054 |
Share of profit from Associates and Joint Ventures | (125,053) | ||
Income before Taxes from Continuing Operations | 43,377,652 | 50,178,167 | 7,067,054 |
Income Tax from Continuing Operations | (17,844,872) | (17,750,682) | (14,476,788) |
Net Income / (Loss) from Continuing Operations | 25,532,780 | 32,427,485 | (7,409,734) |
Loss from Discontinued Operations | (544,003) | ||
Income Tax from Discontinued Operations | (66,336) | ||
Net Income / (Loss) for the Year | 25,532,780 | 32,427,485 | (8,020,073) |
Net Income / (Loss) for the Year Attributable to parent company´s owners | 25,191,673 | 32,276,377 | (7,258,414) |
Net Income / (Loss) for the Year Attributable to Non-controlling Interests | 341,107 | 151,108 | (761,659) |
Earnings per Share | |||
Net Income / (Loss) Attributable to parent company's owners | 25,191,673 | 32,276,377 | (7,258,414) |
Net Income / (Loss) Attributable to parent company's owners Adjusted by dilution effects | $ 25,191,673 | $ 32,276,377 | $ (7,258,414) |
Weighted-Average of Ordinary Shares Outstanding for the Year | 1,442,740 | 1,426,765 | 1,426,765 |
Diluted Weighted-Average of Ordinary Shares Outstanding for the Year | 1,442,740 | 1,426,765 | 1,426,765 |
Basic Earnings per Share | $ 17.46 | $ 22.62 | $ (5.09) |
Diluted Earnings per Share | $ 17.46 | $ 22.62 | $ (5.09) |
CONSOLIDATED STATEMENT OF OTHER
CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2020ARS ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019ARS ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018ARS ($) | Dec. 31, 2018USD ($) | ||
Statement of comprehensive income [abstract] | |||||||
Net Income / (Loss) for the Year | $ 25,532,780 | $ 32,427,485 | $ (8,020,073) | ||||
Items of Other Comprehensive Income (OCI) that may be Reclassified to Profit or Loss for the Year | |||||||
Income or Loss from Financial Instruments at Fair Value through OCI (Item 4.1.2a, IFRS 9) | |||||||
Income / (Loss) for the Year from Financial Instruments at Fair Value with Changes through OCI | [1] | (203,783) | 533,607 | (183,218) | |||
Other Comprehensive Income | [1] | (5,527) | 14,591 | ||||
Total Other Comprehensive Income (Loss) that may be Reclassified to Profit or Loss for the Year | (209,310) | 548,198 | (183,218) | ||||
Total Other Comprehensive Income (Loss) | (209,310) | 548,198 | (183,218) | ||||
Total Comprehensive Income / (Loss) | 25,323,470 | 32,975,683 | (8,203,291) | ||||
Total Comprehensive Income / (Loss) Attributable to Parent company's owners | 24,982,363 | 32,824,575 | (7,441,632) | ||||
Total Comprehensive Income / (Loss) Attributable to Non-controlling Interests | $ 341,107 | $ 151,108 | $ (761,659) | ||||
[1] | Net of Income Tax. |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - ARS ($) $ in Thousands | Total | Capital stock outstanding [member] | Additional paid-in capital [member] | Equity Adjustments [member] | Accumulated income (loss) from financial instruments at fair value with changes in OCI [member] | Others [member] | Legal reserve [member] | Other reserves [member] | Retained income [member] | Total shareholders' equity attributable to controlling interests [member] | Total shareholders' equity attributable to non-controlling interests [member] |
Equity, Beginning balance at Dec. 31, 2017 | $ 141,318,717 | $ 1,426,765 | $ 10,951,132 | $ 60,622,637 | $ 186,159 | $ 1,218,152 | $ 66,597,571 | $ (5,869,124) | $ 135,133,292 | $ 6,185,425 | |
Capital Contribution from Non-controlling Interest | 1,613,587 | 1,613,587 | (1,613,587) | ||||||||
Dividends Distribution from Tarjetas Regionales S.A. | (202,709) | (202,709) | |||||||||
Distribution of Profits | |||||||||||
- Cash Dividends | (3,386,137) | (3,386,137) | (3,386,137) | ||||||||
- Other Reserves | 78,230 | 21,966,922 | (22,045,152) | ||||||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | (8,020,073) | (7,258,414) | (7,258,414) | (761,659) | |||||||
Other Comprehensive Income (Loss) for the Year | (183,218) | (183,218) | (183,218) | ||||||||
Equity, Ending balance at Dec. 31, 2018 | 129,526,580 | 1,426,765 | 10,951,132 | 60,622,637 | 2,941 | 1,296,382 | 90,178,080 | (38,558,827) | 125,919,110 | 3,607,470 | |
Capital Contribution from Non-controlling Interest | 179,986 | 179,986 | |||||||||
Distribution of Profits | |||||||||||
- Cash Dividends | (3,622,432) | (3,622,432) | (3,622,432) | ||||||||
- Other Reserves | 35,774,283 | (35,774,283) | |||||||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | 32,427,485 | 32,276,377 | 32,276,377 | 151,108 | |||||||
Other Comprehensive Income (Loss) for the Year | 548,198 | 533,607 | $ 14,591 | 548,198 | |||||||
Equity, Ending balance at Dec. 31, 2019 | 159,059,817 | 1,426,765 | 10,951,132 | 60,622,637 | 536,548 | 14,591 | 1,296,382 | 125,952,363 | (45,679,165) | 155,121,253 | 3,938,564 |
Dividends Distribution from Tarjetas Regionales S.A. | (143,844) | (143,844) | |||||||||
Distribution of Profits | |||||||||||
- Cash Dividends | (1,892,559) | (1,892,559) | (1,892,559) | ||||||||
- Other Reserves | 56,576,105 | (56,576,105) | |||||||||
Increase due to merger | (13,149) | 47,927 | 6,330,055 | 925,676 | (3,180,983) | 4,122,675 | (4,135,824) | ||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | 25,532,780 | 25,191,673 | 25,191,673 | 341,107 | |||||||
Other Comprehensive Income (Loss) for the Year | (209,310) | (203,783) | (5,527) | (209,310) | |||||||
Equity, Ending balance at Dec. 31, 2020 | $ 182,333,735 | $ 1,474,692 | $ 17,281,187 | $ 61,548,313 | $ 332,765 | $ 9,064 | $ 1,296,382 | $ 177,454,926 | $ (77,063,597) | $ 182,333,732 | $ 3 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Income before Taxes from Continuing Operations | $ 43,377,652 | $ 50,178,167 | $ 7,067,054 |
Adjustment to Obtain the Operating Activities Flows: | |||
Loan and other Receivables Loss Provisions | 34,679,749 | 30,227,668 | 34,136,247 |
Depreciation and Impairment of Assets | 8,284,286 | 6,894,944 | 3,459,704 |
Loss on Net Monetary Position | 36,963,213 | 41,928,902 | 37,830,439 |
Other Operations | 33,809,461 | 45,546,783 | (15,845,824) |
Net Increases/(Decreases) from Operating Assets: | |||
Debt securities measured at fair value through profit or loss | (16,816,890) | 1,906,801 | 25,022,547 |
Derivative Financial Instruments | 1,005,783 | 568,821 | (2,115,155) |
Repo Transactions | (45,899) | (4,166,505) | 627,969 |
Other Financial Assets | 762,783 | 2,738,061 | 3,292,293 |
Net Loans and Other Financing | |||
- Non-financial Public Sector | 11,292 | 17,889 | (6,796) |
- Other Financial Institutions | (2,768,659) | (1,073,296) | 7,583,249 |
- Non-financial Private Sector and Residents Abroad | (70,129,963) | 72,480,365 | (28,997,919) |
Other Debt Securities | 2,823,060 | 4,314,789 | (21,448,808) |
Financial Assets Pledged as Collateral | (2,992,408) | 6,929,858 | (3,080,071) |
Investments in Equity Instruments | 309,477 | (5,863,167) | (102,894) |
Other Non-financial Assets | 871,701 | (2,209,541) | (2,364,329) |
Non-current Assets Held for Sale | 23,778 | 1,220,250 | 21,470,750 |
Deposits | |||
- Non-financial Public Sector | 18,905,690 | (15,314,927) | 14,347,100 |
- Financial Sector | 1,333,223 | (876,675) | 1,134,515 |
- Non-financial Private Sector and Residents Abroad | 120,123,123 | (201,920,439) | 117,986,898 |
Liabilities at fair value through profit or loss | (1,936,133) | (2,555,401) | 4,491,534 |
Derivative Financial Instruments | (1,142,083) | (2,645,130) | 2,072,205 |
Other Financial Liabilities | 1,297,568 | (40,408,460) | 16,511,834 |
Provisions | 36,561 | 704,443 | 1,156,177 |
Other Non-financial Liabilities | 44,060 | (1,096,350) | (20,447,222) |
Income Tax Collections/Payments | (25,076,419) | (13,753,851) | (15,540,835) |
NET CASH (USED IN)/GENERATED BY OPERATING ACTIVITIES (A) | 183,754,006 | (26,226,001) | 188,240,662 |
Payments: | |||
Purchase of PP&E, Intangible Assets and Other Assets | (7,123,954) | (10,751,158) | (7,723,624) |
Interests in Associates and other companies | (102,290) | ||
Collections: | |||
Sale of PP&E, Intangible Assets and Other Assets | 264,603 | 3,648,203 | 212,957 |
Dividends Earned | 179,298 | ||
NET CASH USED IN INVESTMENT ACTIVITIES (B) | (6,782,343) | (7,102,955) | (7,510,667) |
Payments: | |||
Unsubordinated Debt Securities | (27,839,122) | (20,826,089) | (2,851,195) |
Subordinated Debt Securities | 0 | ||
Loans from Local Financial Institutions | (35,157,119) | (70,418,814) | (25,579,255) |
Dividends | (2,036,403) | (3,622,432) | (3,588,846) |
Leases payment | (1,333,090) | (1,361,874) | |
Collections: | |||
Unsubordinated Debt Securities | 11,728,016 | 7,726,304 | 23,558,089 |
Loans from Local Financial Institutions | 19,531,578 | 63,225,074 | 24,870,537 |
Capital increase | 179,986 | ||
NET CASH (USED IN)/GENERATED BY FINANCING ACTIVITIES (C) | (35,106,140) | (25,097,845) | 16,409,330 |
EXCHANGE INCOME ON CASH AND CASH EQUIVALENTS (D) | 32,805,838 | 69,534,981 | 94,158,129 |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C+D+E) | 174,671,361 | 11,108,180 | 291,297,454 |
MONETARY LOSS RELATED TO CASH AND CASH EQUIVALENTS | (111,859,585) | (168,132,627) | (94,622,803) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 316,008,097 | 473,032,544 | 276,357,893 |
CASH AND CASH EQUIVALENTS AT END OF THE YEAR | $ 378,819,873 | $ 316,008,097 | $ 473,032,544 |
Accounting Policies and Basis f
Accounting Policies and Basis for Preparation | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Accounting Policies and Basis for Preparation | NOTE 1. ACCOUNTING POLICIES AND BASIS FOR PREPARATION Grupo Financiero Galicia S.A. (hereinafter, “the Company”, and jointly with its subsidiaries, “the Group”) is a financial services holding company incorporated in September 14, 1999 under the laws of Argentina. The Company’s main asset is its interest in Banco de Galicia y Buenos Aires S.A.U. (hereinafter, “Banco Galicia” or “the Bank”) which is a private bank offering a wide range of financial services, both to individuals and companies. Likewise, the Company has a controlling interest in: Tarjetas Regionales S.A., through it we provide proprietary brand credit cards, consumer finance and digital banking services to non-banked populations of Argentina; Sudamericana Holding S.A., a company engaged in the insurance business; Galicia Administradora de Fondos S.A., a mutual fund management company; Galicia Warrants S.A., a warrant issuing company; IGAM LLC, a company engaged in assets management; and Galicia Securities S.A. a settlement and compensation agent. These consolidated financial statements were approved and authorized for publication through Minutes of Board of Directors’ Meeting No. 631 dated April 23, 2021. 1.1. BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and the interpretations issued by the International Financial Reporting Interpretation Committee (IFRIC). All the IFRSs in force as of the date of preparation of these consolidated financial statements have been applied. In Argentina, the Group is subject to the provisions of Article 2, Section I, Chapter I of Title IV: Periodic Information Regime of the National Securities Commission (CNV) regulations and it is required to present its financial statements in accordance with the valuation and disclosure criteria set forth by the Argentine Central Bank. The Argentine Central Bank, through Communications “A” 5541 and its amendments, established a convergence plan towards the adoption of IFRS as issued by the IASB, and the interpretations issued by the IFRIC, for the entities under its supervision, effective for fiscal years commencing January 1, 2018 with certain exceptions. The Group has presented its local financial statements under these rules on March 9, 2021. Shareholders’ equity under the rules of the Argentine Central Bank is presented in Note 52.8. It has been concluded that these consolidated financial statements fairly present the Group’s financial position, financial performance and cash flows, in accordance with IFRS. The preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Groups´ accounting policies. The areas involving a greater degree of judgment or complexity, or areas where assumptions and estimates are significant for the consolidated financial statements are disclosed in Note 2. (a) Going Concern As of the date of these consolidated financial statements, there are no uncertainties related to events or conditions that may cast significant doubt upon the Group´s ability to continue as a going concern. (b) Measurement Unit IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of an entity whose functional currency is that of a hyperinflationary economy be restated in terms of the current measurement unit as of the reporting period-end, irrespective of whether they are based on the historical cost or the current cost method. Accordingly, in general terms, non-monetary items should be adjusted for inflation occurring since the acquisition date or since the revaluation date, as the case may be. These requirements are also applicable to the comparative information reported in the financial statements. According to IAS 29, monetary assets and liabilities are not required to be restated, for they are stated in the measurement unit as of the end of the reporting period. Assets and liabilities subject to adjustments based on specific agreements will be adjusted on the basis of such agreements. Non-monetary items measured at their fair values at the end of the reporting period, such as net realizable value or otherwise, will not be restated. The other non-monetary assets and liabilities will be restated by applying a general price index. The income (loss) from the net monetary position will be charged to net income for the reporting period in a separate item. In order to conclude whether a given economy qualifies as hyperinflationary pursuant to the terms of IAS 29, the standard sets forth certain factors that should be considered, including a three-year cumulative inflation rate reaching or exceeding 100%. In this regard, the Argentine Federation of Professional Councils in Economic Sciences (FACPCE) through Resolution J.G.539/18 and the Professional Council in Economic Sciences of the Autonomous City of Buenos Aires (CPCECABA) through Resolution C.D. 107/2018 have pointed out that, effective for fiscal years ending on July 1, 2018 and thereafter, entities reporting under IFRS will be required to apply IAS 29 since the conditions for such application have been satisfied. In addition, Law No. 27468 enacted in November 2018 abrogated the prohibition to present the financial statements adjusted for inflation, as established by Decree 664/2003, entrusting each regulatory agency with its application. In this regard, on December 26, 2018, the CNV issued General Resolution No. 777/2018 authorizing the issuing entities to present accounting information in constant currency for annual financial statements for interim and special periods ending on December 31, 2018 and thereafter, except for financial institutions and insurance companies. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy (c) New Accounting Standards Definition of “Business” - Amendment to IFRS 3: This amendment is effective as of January 1, 2020. The Group does not consider that this amendment has an impact, unless there is a business combination. Definition of “Material” - Amendments to IAS 1 and IAS 8: In particular, the amendments clarify: • The reference to obscuring information addresses situations where the effect is similar to omitting or misstating such information, and that an entity assesses materiality in the context of the financial statements as a whole; and • the meaning of “primary users of general-purpose Financial Statements” to whom those Financial Statements are addressed, by defining them as “existing and potential investors, lenders and other creditors”, that must rely on general purpose Financial Statements for much of the financial information they need. This amendment is effective as of January 1, 2020 and the Group does not consider that this amendment has a significant impact on its financial statements. Amendments to the Conceptual Framework for Financial Reporting: The Group does not consider that these amendments have a significant impact on its financial statements. Reform to the interest rate benchmark - Amendments to IFRS 9, IAS 39 and IFRS 7: (d) New accounting standards and amendments issued by IASB that have not been adopted by the Group The new standards, amendments and interpretations published are detailed below; however, they have not yet come into force for financial reporting periods commenced January 1, 2020 and have not been early adopted. Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28. IFRS 17 “Insurance Contracts”: There are no other IFRS or IFRIC interpretations that are not effective and that are expected to have a significant impact on the Group. 1.2. CONSOLIDATION Subsidiaries are those entities, including structured entities, where the Group is in control because (i) it has the power to direct relevant activities of the investee, which significantly affect its returns; (ii) it has exposure, or rights, to variable returns for its interest in the investee; and (iii) it has the ability to use its power over the investee to affect the amount of the investor’s returns. The existence and effect of the substantive rights, including potential voting rights, are considered when evaluating whether the Group has control over another entity. For a right to be substantive, the holder must have the practical ability to exercise it whenever necessary to make decisions on the direction of the relevant activities of the entity. The Group may be in control of an entity even when possessing less than the majority of the voting rights. Likewise, the protective rights of other investors, such as those related to substantive changes in the activities of the investee or applied only in exceptional circumstances, do not prevent the Group from having control over an investee. The subsidiaries are consolidated from the date the control is transferred to the Group, and they cease to be consolidated as of the date on which the control ceases. The subsidiaries which have been consolidated in these Consolidated Financial Statements are detailed in Note 15. For the purpose of consolidating its financial statements, the Group used the subsidiaries’ financial statements for the year ended December 31, 2020. The accounting policies applied by Sudamericana Holding SA. are established by the National Insurance Superintendency and have been adjusted to those applied by the Group in preparing its consolidated financial statements. Intercompany transactions, balances and unrealized gains on transactions between Group’s companies were eliminated. (See Note 51). Non-controlling interest in the results and equity of consolidated subsidiaries are shown separately in the consolidated statement of income, consolidated statement of other comprehensive income, consolidated statement of changes in shareholder’s equity and consolidated statement of financial position, respectively. In accordance with the provisions of IFRS 3 “Business combinations”, the acquisition method is used to account for the acquisition of subsidiaries. The identifiable assets and liabilities acquired, and contingent liabilities assumed in a business combination are measured at their fair values on the acquisition date. Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and, in a business combination achieved in stages, the fair value of the acquirer’s previously held equity interest in the acquiree; over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. The consideration transferred in a business combination is measured at the fair value of the assets transferred by the acquirer, the liabilities assumed by the acquirer with the previous owners of the investee, and the equity instruments issued by the acquirer. The transaction costs are recognized as expenses in the periods in which the costs have been incurred and the services have been received, except for the transaction costs incurred to issue equity instruments that are deducted from equity, and the transaction costs incurred to issue debt that are deducted from their carrying amount. 1.3. TRANSACTIONS WITH NON-CONTROLLING INTEREST The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized within equity attributable to owners of the Group. 1.4. ASSOCIATES Associates are entities over which the Group has significant direct or indirect influence, but not control; generally, this implies holding between 20 and 50 percent of the voting rights. Investments in associates are accounted for using the equity method and are initially recognized at cost. The carrying amount of the associates includes the goodwill identified in the acquisition less the accumulated impairment losses, if any. Dividends received from associates reduce the carrying amount of the investment. Other changes subsequent to the acquisition of the Group’s interest in the net assets of an associate are recognized as follows: (i) the Group’s interest in the profits or losses of the associates is accounted under Share of Profit from Associates and Joint Ventures in the consolidated statement of income and (ii) the Group’s interest in other comprehensive income is recognized in the consolidated statement of other comprehensive income and presented separately. However, when the Group’s share in losses in an associate equal or exceeds its interest in it, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized profits on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in the associates; unrealized losses are also eliminated unless the transaction provides evidence of impairment in the transferred asset. 1.5. SEGMENT REPORTING An operating segment is a component of an entity (a) that conducts business activities from which it can earn revenues and incur expenses (including revenues and expenses related to transactions with other components of the same entity); (b) whose operating income is regularly reviewed by the Group´s CODM (chief operating decision maker) to make decisions about the resources to be allocated to the segment and assess its performance; and (c) for which confidential financial information is available. Segment reporting is presented consistently with the internal reports submitted to the Board of Directors (CODM of the Group), which is responsible for making the Group’s strategic decisions, allocating resources and assessing the performance of the operating segments. 1.6. FOREIGN CURRENCY TRANSLATION (a) Functional Currency and Presentation Currency The figures included in the consolidated financial statements of the Group´s entities are stated in their functional currency, that is, the currency used in the primary economic environment where it operates. The consolidated financial statements are stated in Argentine pesos (Ps.), which is the Group’s functional and presentation currency. (See Note 1.1). (b) Transactions and Balances The transactions in foreign currency are translated into the functional currency using the exchange rate at the dates of the transactions. Profits and losses in foreign currency resulting from the settlement of these transactions and the translation of monetary assets and liabilities in foreign currency at closing exchange rate, are recognized under “Exchange rate differences on gold and foreign currency” in the statement of income, except when they are deferred in equity by transactions which qualify as cash flows hedges, if appropriate. Assets and liabilities in foreign currency are measured at the reference exchange rate of the US dollar defined by the Argentine Central Bank at the closing of operations on the last business day of each month. As of December 31, 2020, and December 31, 2019, balances in U.S. Dollars were translated at the reference exchange rate (Ps.84.145 and Ps. 59.895, respectively) established by the Argentine Central Bank. Foreign currencies other than the US dollar have been translated into this currency using exchange rates reported by the Argentine Central Bank. 1.7. CASH AND DUE FROM BANKS The item Cash and Due from Banks includes the available cash and bank deposits freely available, which are liquid short-term instruments with maturity less than three months from the origination date. The assets disclosed under cash and due from banks are accounted for at their amortized cost which approximates its fair value. 1.8. FINANCIAL INSTRUMENTS Initial Recognition The Group recognizes a financial asset or liability in its consolidated financial statements, as appropriate, when it becomes part of the contractual clauses of the financial instrument. Purchases and sales are recognized at the trading date when the Group buys or sells the instruments. Upon initial recognition, the Group measures financial assets or liabilities at fair value, plus or less, for instruments not recognized at fair value through profit or loss, transaction costs that are directly attributable to the acquisition, such as fees and commissions. When the fair value differs from the cost value of the initial recognition, the Group recognizes the difference as follows: a. When the fair value is according to the market value of the financial asset or liability or is based on a valuation technique solely using market values, the difference is recognized as profit or loss, as appropriate. b. In other cases, the difference is deferred and the recognition over time of the profit and loss is individually determined. The difference is amortized over the life of the instrument until the fair value can be measured based on market values. Financial Assets a. Debt Securities The Group considers as debt securities those instruments considered financial liabilities for the issuer, such as loans, government and private securities, bonds and customer accounts receivable. Classification As established by IFRS 9, the Group classifies financial assets according to how they are subsequently measured: at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss, based on: • the Group’s business model to manage financial assets; and • the characteristics of contractual cash flows of the financial asset. Business Model The Business Model refers to the way in which the Group manages a set of financial assets to reach a specific business objective. It represents the way the Group manages its financial instruments to generate cash flows. Business models that the Group can follow are listed below: • Hold the instruments to collect its contractual cash flows; • Hold the instruments in the portfolio to collect contractual cash flows and, in turn, sell them when deemed convenient; or; • Hold the instruments for trading. The Group’s Business Model does not depend on the intentions that it may have for an individual instrument. Therefore, this condition is not an instrument-by-instrument classification approach, but it is determined from a higher level of aggregation. The Group only reclassifies an instrument when, and only when, the business model for managing financial assets is modified. The reclassification is performed from the commencement of the period where the change takes place. Such change is not expected to be frequent, and changes have not been recorded during this fiscal year. Characteristics of Contractual Cash Flows The Group assesses whether the cash flow of grouped instruments is not significantly different from the flow that would receive solely for interest; otherwise, they shall be measured at fair value through profit or loss. Based on the foregoing, there are three categories of Financial Assets: (i) Financial assets measured at amortized cost: Financial assets are measured at amortized cost when: (a) the financial asset is held within a business model whose objective is to hold financial assets to collect contractual cash flows; and (b) the contractual conditions of the financial asset give rise, on specified dates, to cash flows that are solely payments of principal and interest on the outstanding principal amount. These financial instruments are initially recognized at fair value plus the incremental and directly attributable transaction costs and are subsequently measured at amortized cost. The amortized cost of a financial asset is equal to its acquisition cost less its accumulated amortization plus accrued interest (calculated according to the effective interest method), net of any impairment loss. (ii) Financial assets at fair value through other comprehensive income: Financial assets are measured at fair value through other comprehensive income when: (a) the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (b) the contractual conditions of the financial asset give rise, on specified dates, to cash flows which are solely payments of principal and interest on the outstanding principal amount. These instruments are initially recognized at their fair value plus the incremental and directly attributable transaction costs and are subsequently measured at fair value through other comprehensive income. Profits and losses arising from the changes in fair value are included in other comprehensive income within a separate equity component. Impairment losses or reversals, income for interest and exchange profits and losses are recognized through profit or loss. Upon its sale or disposal, the accumulated profit or loss previously recognized through other comprehensive income is reclassified to the statement of income. (iii) Financial assets at fair value through profit or loss: Financial assets at fair value through profit or loss are the following: • Instruments held for trading; • Instruments specifically designated at fair value through profit or loss; and • Instruments whose contractual terms do not represent cash flows that are solely payments of principal and interest on the outstanding principal amount. These financial instruments are initially recognized at fair value and any fair value measurement is recognized in the statement of income. The Group classifies a financial instrument as held for trading if it is acquired or incurred for the main purpose of selling or repurchasing it in the short term, or if it is part of a portfolio of financial instruments that are jointly managed and for which there is evidence of short-term earnings, or is a derivative financial instrument not designated as a hedging instrument. Derivative instruments and held-for-trading securities are classified as held for trading and measured at fair value. Additionally, financial assets can be valued at fair value through profit or loss when, by doing so, the Group eliminates or significantly reduces a measurement or recognition mismatch. b. Equity Instruments Equity instruments are so considered by its issuer; this means that they are instruments which do not contemplate a contractual obligation to pay cash, and which evidence a residual interest on the issuer’s asset after deducting its entire liabilities. Such instruments are measured at fair value through profit or loss, except when, at the time of the initial recognition, the irrevocable option had been exercised to measure them at fair value through Other Comprehensive Income. This method is only applicable when the instruments are not held for trading and income shall be accounted in other comprehensive income with no reclassification to profit or loss, even when they are realized. Dividends receivable arising from such instruments shall be recognized through profit or loss solely when the Group is entitled to collect the payment. Financial Liabilities Classification The Group classifies their financial liabilities at amortized cost, using the effective interest rate method, except for: • Financial liabilities measured at fair value through profit or loss, including derivative financial instruments. • Liabilities arising from the transfer of financial assets not complying with the derecognition criteria. • Financial guarantee contracts. • Loan commitments at a lower than market rate. Financial liabilities measured at fair value through profit or loss: the Group may choose to use, at the beginning, the irrevocable option to designate a liability at fair value through profit or loss, if, and only if, in doing so, it reflects a better measurement of financial information because: • the Group eliminates or significantly reduces measurement or recognition inconsistency which would otherwise be exposed in the valuation; • if financial assets and liabilities or a group of financial assets or liabilities, are managed and their performance is assessed on a fair value basis, according to a documented investment or risk management strategy; or • a host contract contains one or more embedded derivative instruments, and the Group has opted for designating the entire contract at fair value through profit or loss. Financial guarantee contracts: Financial guarantee contracts are those contracts requiring the issuer to make specific payments to reimburse the holder for the loss incurred when a specific debtor does not comply with its payment obligation on maturity, in accordance with the original or amended terms of a debt instrument. Financial guarantee contracts are initially measured at fair value, and subsequently measured at the higher of the amount of the loss allowance and the amount initially recognized less, when appropriate, the cumulative amount of income recognized. Derecognition of Financial Instruments Financial Assets A financial asset or, where applicable, a part of a financial asset or a part of a group of similar financial assets, is derecognized when: (i) the rights to receive cash flows from the asset have expired; or (ii) the Group has transferred its rights to receive cash flows from the asset, or has assumed an obligation to pay all of the cash flows received immediately to a third party under a pass-through agreement; and all the risks and rewards of the asset have also been substantially transferred, or, in case all the risks and rewards of the asset had not been substantially transferred or retained, the control of the asset has been transferred. When the contractual rights of receiving the cash flows generated by the asset have been transferred, or a transfer agreement has been executed, the entity assesses if it has retained, and to what extent, the risks and awards inherent in asset ownership. When substantially all the risks and rewards inherent in asset ownership have not been transferred or retained, nor has control of the asset been transferred, the asset continues to be recognized to the extent of its continued involvement over it. In this case, the related liability is also recognized. The transferred asset and the related liability are measured in such a way so as to reflect the rights and obligations that the Group had retained. A continuing involvement that takes the form of a collateral on the transferred asset is measured as the smallest amount between (i) the original carrying amount of the asset, and (ii) the maximum amount of consideration received that would be required to be returned. Financial Liabilities: A financial liability is derecognized when the obligation, has been cancelled, or has expired. When an existing financial liability is exchanged by another of the same borrower under significantly different conditions, or the conditions are significantly modified, such exchange or modification is treated as a derecognition of the original liability and a new liability is recognized, the difference between the value in books of the initial financial liability and the consideration paid is recognized in the Consolidated Statement of Income. When the renegotiation conditions are not significantly different, or the conditions are not significantly modified, the flows of the modified financial liabilities are discounted at the rate of the original contract. 1.9. DERIVATIVE FINANCIAL INSTRUMENTS Derivative Financial instruments, including foreign currency contracts, futures, forward contracts, interest rate swaps, cross currency swaps, interest rate options and foreign currency options are recorder at their fair value. All derivative financial instruments are recorder as assets when the fair value is positive and as liabilities when the fair value is negative, against the agreed price. The changes in the fair value of derivative financial instruments are recognized in profit or loss. In these consolidated financial statements, the Group has not applied hedge accounting. 1.10. REPURCHASE TRANSACTIONS Reverse Repurchase Transactions According to the derecognition principles in IFRS 9, these transactions are considered as secured borrowings, since the risk has not been transferred to the counterpart. Financing granted through reverse repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset received as collateral. At the closing of each month, accrued interest receivable is imputed to the “Repurchase Transactions” account with offsetting entry in “Interest Income”. The underlying assets received for the reverse repurchase transactions will be recorded in Off-Balance Sheet Items. The assets received that have been sold by the Group are not deducted, but derecognized only when the repo transaction finishes, recording a liability in kind for the obligation to deliver the security sold. Repurchase Transactions Financing received through repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset pledged as collateral. In these transactions, when the receiver of the underlying asset obtains the right to sell it or pledge it as collateral, this is reclassified to the “Financial Assets Pledged as Collateral” accounts. At the closing of each month, accrued interest payable is imputed to the “Repurchase Transactions” account with offsetting entry in “Interest Expenses”. 1.11. ALLOWANCES FOR FINANCIAL INSTRUMENTS The Group assesses on a forward-looking basis the expected credit loss (“ECL”) associated with its debt instruments assets carried at amortized cost and FVOCI, together with the exposure arising from loan commitments and financial guarantee contracts. The Group recognizes a loss allowance for such losses at each reporting date. The measurement of ECL reflects: • An unbiased and probability-weighted amount is determined by evaluating a range of possible outcomes, • The time value of money, and • Reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Note 45 provides more detail of how the expected credit loss allowance is measured. 1.12. LEASES 1.12.1. Lease activities of the Group The Group is the lessee of various properties to be used in its ordinary course of business. Lease contracts are generally made for fixed periods, from 1 to 20 years, but in some cases, there may be price agreements for shorter periods with extension options. Lease terms are individually negotiated and contain a wide range of different terms and conditions. From January 1, 2019, leases are recognized as a right-of-use asset and a corresponding liability, on the date at which the leased asset is available for use by the Group. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance fixed payments), less any lease incentives receivable; • variable lease payments based on an index or a rate, initially measured using the index or rate on the initial date; • amounts expected to be payable by the lessee under residual value guarantees; • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease, if it can be determined; or otherwise, the Group’s incremental borrowing rate will be applied, which is the rate that the lessee would have to pay to borrow the necessary funds to obtain an asset of similar value to the right-of- use asset, in a similar economic environment with similar terms, security and conditions. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period, to produce a constant, periodic interest rate on the remaining |
Critical Accounting Policies an
Critical Accounting Policies and Estimates | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Critical Accounting Policies and Estimates | NOTE 2. CRITICAL ACCOUNTING POLICIES AND ESTIMATES The preparation of consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires Directors to exercise their judgment in applying the accounting standards to define the Group’s accounting policies. The Group has identified the following areas involving a greater degree of judgment or complexity, or areas in where the assumptions and estimates are significant for the consolidated financial statements and which are essential to understand the underlying accounting/financial reporting risks. a. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of financial instruments not listed in active markets is determined by using valuation techniques. Such techniques are periodically validated and reviewed by qualified personnel independent from the area or independent appraisers that developed them. All models are assessed and adjusted before they are used, to ensure that their results reflect the current information and comparable market prices. To the extent possible, the models rely only on observable inputs; however, certain factors such as projected cash flows, discount rates and volatilities and correlations relating to interest rates and spreads require the use of estimates. Changes in the assumptions about these factors can affect the reported fair value of the financial instruments. b. ALLOWANCE FOR LOAN LOSSES The Group recognizes the allowance for loan losses under the expected credit losses method included in IFRS 9. The most significant judgments of the model relate to defining what is considered a significant increase in credit risk, identifying assets which are impaired or subject to serious risk of impairment, developing parameters such as the probabilities of default and the loss given default and making assumptions about macroeconomic scenarios. A high degree of uncertainty is involved in making estimations using assumptions that are highly subjective and very sensitive to the risk factors. Furthermore, the level of estimation uncertainty and judgement has increased during 2020 as a result of the economic effects of the Covid-19 outbreak. c. IMPAIRMENT OF NON-FINANCIAL ASSETS Intangible assets with finite useful lives and property, plant and equipment are amortized or depreciated on a straight-line basis during their estimated useful life. The Group monitors the conditions related to these assets to determine whether the events and circumstances require a review of the remaining amortization or depreciation term, and whether there are factors or circumstances indicating impairment in the value of the assets that cannot be recovered. The Group has applied judgment to identify impairment indicators for property, plant and equipment and intangible assets. The Group has concluded that there were no impairment indicators for any of the years reported in its consolidated financial statements. d. INCOME TAX AND DEFERRED TAX Significant judgment is required when determining current and deferred tax assets and liabilities. The current income tax is accounted according to the amounts expected to be paid; while deferred income tax is accounted on the basis of temporary differences between carrying amount of assets and liabilities and their tax base, at the rates expected to be in force at the time of their reversal. A deferred tax asset is recognized when future taxable income is expected to exist to offset such temporary differences, based on Management’s assumptions about the amounts and timing of such future taxable income. Then, management needs to determine whether deferred tax assets are likely to be used and offset against future taxable income. Actual results may differ from these estimates, for instance, changes in the applicable tax laws or the outcome of the final review of the tax returns by the tax authorities and tax courts. Future taxable income and the number of tax benefits likely to be available in the future are based on a medium-term business plan prepared by management, on the basis of expectations which are deemed reasonable. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
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Financial Instruments | NOTE 3. FINANCIAL INSTRUMENTS Schedule P “Categories of Financial Assets and Liabilities”, discloses the measurement categories and fair value hierarchies for financial instruments. As of the indicated dates, the Group maintains the following portfolios of financial instruments: Portfolio of Instruments as of 12.31.2020 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 175,423,476 — Argentine Central Bank’s Bills and Notes 128,324,920 — — Government Securities 24,282,643 — — Corporate Securities 2,811,997 — — Derivative Financial Instruments 2,165,032 — — Repurchase Transactions — 60,995,643 — Other Financial Assets 2,791,983 7,301,643 — Loans and Other Financing — 526,434,119 — Other Debt Securities — 18,885,279 4,185,098 Financial Assets Pledged as Collateral 2,035,559 16,681,884 — Investments in Equity Instruments 5,711,684 — — Liabilities Deposits — 676,395,735 — Derivative Financial Instruments 57,450 — — Other Financial Liabilities — 97,471,465 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 13,833,439 — Debt Securities — 17,073,898 — Subordinated Debt Securities — 21,653,546 — Portfolio of Instruments as of 12.31.2019 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 177,866,400 — Argentine Central Bank’s Bills and Notes 79,153,628 — — Government Securities 9,121,674 — — Corporate Securities 1,156,076 — — Derivative Financial Instruments 3,170,815 — — Repurchase Transactions — 40,944,933 — Other Financial Assets 6,840,391 8,019,809 — Loans and Other Financing — 488,144,152 — Other Debt Securities — 4,224,883 21,668,553 Financial Assets Pledged as Collateral 2,362,981 13,362,055 — Investments in Equity Instruments 6,200,459 — — Liabilities Deposits — 536,033,696 — Liabilities at fair value through profit or loss 1,936,133 — — Derivative Financial Instruments 1,199,533 — — Other Financial Liabilities — 97,153,624 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 30,936,161 — Debt Securities — 39,808,666 — Subordinated Debt Securities — 21,100,718 — |
Fair Values
Fair Values | 12 Months Ended |
Dec. 31, 2020 | |
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Fair Values | NOTE 4. FAIR VALUES The Group classifies the fair values of the financial instruments in 3 levels, according to the quality of the data used for their determination Fair Value Level 1: The fair value of financial instruments traded in active markets (as publicly traded derivative instruments, debt securities or instruments available for sale) is based on the quoted market prices as of the date of the reporting period. If the quoted price is available and there is an active market for the instrument, this will be included in Level 1. Otherwise, it will be included in Level 2. Fair Value Level 2: The fair value of financial instruments not traded in active markets, for example, over-the-counter derivatives, is determined using valuation techniques that maximize the use of observable inputs and rely to the lower extent possible in the Group’s specific estimates. If all the significant inputs required to obtain the fair value of a financial instrument are observable, the instrument is included in Level 2. If the inputs required to determine the price are not observable, the instrument will be included in Level 3. Fair Value Level 3: If one or more relevant inputs are not based on observable market data, the instrument is included in Level 3. This is the case of unlisted financial instruments. When observable market prices are no longer available, the instrument will be included in Level 3. The instrument will return to Level 1 only when it has observable market price, and it will maintain that Level if it continues quoting. This is called transfer between levels. Valuation Techniques The valuation techniques to determine fair values include: • Market prices for similar instruments. • Determining the estimated present value of instruments. The valuation technique to determine the fair value Level 2 is based on data other than the quoted price included in Level 1, which are directly observable for assets or liabilities (i.e., prices). For those instruments with no secondary market and which, if having to reverse positions, the Group would have to sell them to the Argentine Central Bank at the rate originally agreed in accordance with the provisions of the controlling authority, the price has been prepared based on such rate accrual. Financial instruments classified as level 3 mainly include equity instruments for which the fair value was calculated with the assistance of independent appraisers using methods of future discounted cash flows involving a combined income and market approach. The fair value of the related put option derivative classified as level 3 was estimated using a valuation technique based on the binomial method considering different scenarios. The most relevant unobservable input data include the projected EBITDA and the discount rate (WACC—Weighted Average Cost of Capital) used in the estimations. The valuation technique to determine the fair value of other Level 3 financial instruments is based on a method that compares the existing spread between the curve of sovereign bonds and the average yield of primary offerings, for different segments, according to the different risk ratings. If there are no representative primary offerings during the month, the following alternatives will be used: (i) Secondary market prices of instruments under the same conditions, which had quoted in the evaluation month. (ii) prior-month bidding and/or secondary market prices, which will be taken based on their representativeness. (iii) prior month spread applied to the sovereign curve. (iv) A specific margin is applied, defined according to historical yields of instruments under the same conditions. As stated above, the rates and spreads to be used to discount future cash flows and originate the price of the instrument are determined. All the modifications to the valuation methods are previously discussed and approved by the Group’s key personnel. The Group’s financial instruments measured at fair value at the end of the reporting period are detailed below: Portfolio of Instruments as of 12.31.20 Fair Value Level Fair Value Level Fair Value Level Assets Argentine Central Bank’s Bills and Notes — 128,324,920 — Government Securities 23,170,495 911,380 200,768 Corporate Securities 1,653,980 — 1,158,017 Derivative Financial Instruments — 547,929 1,617,103 Other Financial Assets 2,760,728 31,255 — Other Debt Securities (* 604,996 3,580,102 — Financial Assets Pledged as Collateral 2,035,559 — — Investments in Equity Investments 234,774 — 5,476,910 Liabilities Derivative Financial Instruments — 57,450 — Total 30,460,532 133,338,136 8,452,798 (*) It relates to Government Securities measured at fair value through other comprehensive income. Portfolio of Instruments as of 12.31.19 Fair Value Level Fair Value Level Fair Value Level Assets Argentine Central Bank’s Bills and Notes — 79,153,628 — Government Securities 2,052,669 — 7,069,005 Corporate Securities 904,405 — 251,671 Derivative Financial Instruments — 1,903,979 1,266,836 Other Financial Assets 6,789,474 50,917 — Other Debt Securities (*) 21,668,553 — — Financial Assets Pledged as Collateral 957,979 — 1,405,002 Equity Investments 220,552 — 5,979,907 Liabilities Liabilities at fair value through profit or loss 1,936,133 — — Derivative Financial Instruments — 1,199,533 — Total 30,657,499 79,908,991 15,972,421 (*) It relates to Government Securities measured at fair value through other comprehensive income. The evolution of instruments included in Level 3 Fair Value is detailed below: Level 3 12.31.19 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.20 Government Securities 7,069,005 (1,734,412 ) 18,522,437 (22,946,325 ) 915,243 (1,625,180 ) 200,768 Corporate Securities 251,671 123,615 3,850,367 (2,996,313 ) 99,825 (171,148 ) 1,158,017 Derivative Financial Instruments 1,266,836 — — — 686,568 (336,301 ) 1,617,103 Financial Assets Pledged as Collateral 1,405,002 (209,844 ) 700,459 (1,580,566 ) (162,288 ) (152,763 ) — Investments in Equity Instruments 5,979,907 — — — 1,052,243 (1,555,240 ) 5,476,910 Total 15,972,421 (1,820,641 ) 23,073,263 (27,523,204 ) 2,591,591 (3,840,632 ) 8,452,798 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.18 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.19 Government Securities 983,085 9,025,790 24,808,830 (26,392,026 ) (1,247,071 ) (109,603 ) 7,069,005 Corporate Securities 1,659,863 29,357 8,855,903 (9,903,261 ) 372,290 (762,481 ) 251,671 Derivative Financial Instruments — — 1,743,456 — — (476,620 ) 1,266,836 Financial Assets Pledged as Collateral — 2,962,544 1,299,228 (2,378,488 ) (496,746 ) 18,464 1,405,002 Investments in Equity Instruments 281,177 (29,423 ) 7,198,058 — 438,721 (1,908,626 ) 5,979,907 Total 2,924,125 11,988,268 43,905,475 (38,673,775 ) (932,806 ) (3,238,866 ) 15,972,421 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. The Group’s policy is to recognize transfers between the fair value levels only at the end of the reporting period. Transfers occurred because the instruments without observable market prices were reclassified at Level 3, and the instruments with observable market prices at the end of the year were reclassified at Level 1. The Group included below the fair value of the instruments not carried at fair value as of the year-end. Items of Assets/(Liabilities) as of 12.31.20 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 175,423,476 175,423,476 175,423,476 — — Repurchase Transactions 60,995,643 60,995,643 60,995,643 — — Loans and Other Financing 526,434,119 527,834,544 — — 527,834,544 Other Financial Assets 7,301,643 7,161,885 4,399,582 — 2,762,303 Other Debt Securities 18,885,279 18,878,854 — — 18,878,854 Financial Assets Pledged as Collateral 16,681,884 16,681,884 16,681,884 — — Liabilities Deposits 676,395,735 676,454,768 — — 676,454,768 Financing Received from the Argentine Central Bank and Other Financial Institutions 13,833,439 9,934,732 — — 9,934,732 Debt Securities 17,073,898 16,207,692 12,208,069 — 3,999,623 Subordinated Debt Securities 21,653,546 18,850,289 — — 18,850,289 Other Financial Liabilities 97,471,465 97,083,349 — — 97,083,349 Items of Assets/(Liabilities) as of 12.31.19 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 177,866,399 177,866,399 177,866,399 — — Repurchase Transactions 40,944,933 40,944,933 40,944,933 — — Loans and Other Financing 488,144,152 487,184,349 — — 487,184,349 Other Financial Assets 8,019,809 8,796,107 9,228 — 8,786,879 Other Debt Securities 4,224,883 4,233,738 — — 4,233,738 Financial Assets Pledged as Collateral 13,362,055 13,362,054 13,362,054 — — Liabilities Deposits 536,033,696 536,246,597 — — 536,246,597 Financing Received from the Argentine Central Bank and Other Financial Institutions 30,936,161 29,554,907 — — 29,554,907 Debt Securities 39,808,666 40,333,927 40,333,927 — — Subordinated Debt Securities 21,100,718 20,384,249 — — 20,384,249 Other Financial Liabilities 97,153,624 96,516,196 — — 96,516,196 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2020 | |
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Cash and Cash Equivalents | NOTE 5. CASH AND CASH EQUIVALENTS Cash equivalents are held to meet short-term payment commitments, rather than for investment or similar purposes. A financial asset is classified as cash equivalent, if it can be readily convertible into a certain amount of cash and its risk of changes in value is immaterial. Accordingly, an investment with original maturity of three months or less is classified as cash equivalent. Equity interests are excluded from cash equivalents. Cash and cash equivalents break down as follows: 12.31.20 12.31.19 12.31.18 Cash and Due from Banks 175,423,476 177,866,399 300,130,550 Argentine Central Bank’s Bills and Notes Maturing up to 90 Days 128,324,920 79,153,628 146,845,198 Reverse repurchase Transactions Debtors 60,842,046 40,837,234 4,309,110 Loans to Financial Institutions 6,500,000 — 1,964,438 Overnight Placements in Foreign Banks 1,661,834 10,720,687 11,101,128 Mutual Funds 2,760,728 6,764,519 8,083,157 Time Deposits 3,306,869 665,630 598,963 Total Cash and Cash Equivalents 378,819,873 316,008,097 473,032,544 The risk analysis for cash and cash equivalents is presented in Note 45. The information with related parties is disclosed in Note 51. |
Debt Securities at Fair Value t
Debt Securities at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 2020 | |
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Debt Securities at Fair Value through Profit or Loss | NOTE 6. DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS The Group’s debt securities at fair value through profit or loss are detailed in Schedule A. The credit quality of debt securities is disclosed in Note 45. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
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Derivative Financial Instruments | NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS FORWARD EXCHANGE CONTRACT WITH NO DELIVERY OF THE UNDERLYING ASSET The Electronic Open Market (Mercado Abierto Electrónico, MAE) and the Rosario Forward Market (ROFEX) have trading areas for the closing, recording and settlement of forward financial transactions between their Agents, including Banco Galicia. In general, the settlement of these transactions is made without delivering the underlying asset. The settlement is carried out daily in Argentine pesos for the difference, if any, between the closing price traded of the underlying asset and the closing price or value of the underlying asset of the previous day, the price difference impacting on Income. The transactions are recorded in Off-balance Sheet Items The accrued balances pending settlement are disclosed in the “Derivative Financial Instruments” line, in Assets and/or Liabilities, as appropriate. INTEREST RATE SWAPS These transactions are traded within the scope of the MAE, and feature the daily or monthly settlement in Argentine pesos of the variation between the cash flows calculated at a variable rate (Private Badlar for a period of 30 to 35 days) and the cash flows calculated at a fixed rate or vice versa on the notional agreed, the price difference impacting on Income. The amounts of transactions as of December 31, 2020 and 2019 are as follows: Underlying Asset Type of Settlement 12.31.20 (*) 12.31.19 (*) Currency Forward Transactions Purchases Foreign currency Daily difference 25,716,730 24,787,263 Sales Foreign currency Daily difference 14,328,423 17,225,667 Customers´ Purchases Foreign currency Daily difference 1,549,356 13,531,017 Customers´ Sales Foreign currency Daily difference 12,563,375 21,060,236 Interest Rate Swaps Swaps Others Other 82,909 490,436 Repurchase Transactions Forward Sales Government Securities With delivery of the underlying asset 61,923,889 40,799,609 (*) Notional values. For further details, refer to Schedule O. |
Repurchase Transactions
Repurchase Transactions | 12 Months Ended |
Dec. 31, 2020 | |
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Repurchase Transactions | NOTE 8. REPURCHASE TRANSACTIONS As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.20 12.31.19 Debtors for Reserve Repurchase Transactions of Government Securities 60,842,046 40,837,234 Interest Accrued Receivable for Reserve Repurchase Transactions 153,597 107,699 Total Repurchase Transactions—Assets 60,995,643 40,944,933 The notional values of the assets transferred in repurchase transactions are presented in Note 7 and Schedule O. 12.31.20 12.31.19 Reverse Repurchase Transactions recorded in Off-Balance Sheet Items 61,923,889 40,799,609 |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Other Financial Assets | NOTE 9. OTHER FINANCIAL ASSETS As of the indicated dates, the balances of “Other Financial Assets” correspond to: 12.31.20 12.31.19 Receivables from Spot Sales of Foreign Currency Pending Settlement 107,542 107,860 Receivables from Spot Sales of Government Securities Pending Settlement 1,239,870 243,816 Sundry Debtors 4,819,857 6,295,414 Mutual Funds 2,760,728 6,789,474 Premiums from financial guarantee contracts 484,028 875,839 Others 737,305 705,705 Minus: Allowances (55,704 ) (157,908 ) Total 10,093,626 14,860,200 Related-party information is disclosed in Note 51. The credit rating quality analysis of Other Financial Assets as of December 31, 2020 was as follows: Debtors Debtors for Sundry Mutual Premiums Other Not yet due 107,542 1,239,870 4,814,695 2,760,728 484,028 737,305 Impaired/Uncollectible — — 5,162 — — — Allowances — — (55,704 ) — — — Total 107,542 1,239,870 4,764,153 2,760,728 484,028 737,305 |
Loans and Other Financing
Loans and Other Financing | 12 Months Ended |
Dec. 31, 2020 | |
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Loans and Other Financing | NOTE 10. LOANS AND OTHER FINANCING The composition of the Loans and Other Financing portfolio as of the indicated dates is detailed below: 12.31.20 12.31.19 Non-financial Public Sector 334 9,297 Argentine Central Bank 13,195 30,460 Financial Institutions 14,700,600 14,697,129 Loans 14,700,600 14,697,129 Non-financial Private Sector and Residents Abroad 548,953,562 508,591,528 Loans 537,206,661 492,932,211 Advances 29,219,431 21,635,827 Notes 143,769,344 102,214,820 Mortgage Loans 16,486,335 20,492,746 Pledge Loans 11,586,593 4,368,295 Personal Loans 36,504,158 37,637,281 Credit Card Loans 241,793,015 203,475,676 Other Loans 36,431,415 84,111,147 Accrued Interest, Adjustments and Quotation Differences Receivable 23,649,868 20,755,403 Documented Interest (2,233,498 ) (1,758,984 ) Financial Leases 1,855,070 3,030,008 Other Financing 9,891,831 12,629,309 Less: Allowances (37,233,572 ) (35,184,262 ) Total 526,434,119 488,144,152 Classification of Loans and Other Financing as per situation and guarantees received, is detailed in Schedule B. The concentration of Loans and Other Financing is detailed in Schedule C. The breakdown for term of Loans and Other Financing is detailed in Schedule D. The risk analysis for Loans and Other Financing is presented in Note 45. The information with related parties is disclosed in Note 51. |
Other Debt Securities
Other Debt Securities | 12 Months Ended |
Dec. 31, 2020 | |
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Other Debt Securities | NOTE 11. OTHER DEBT SECURITIES The Group’s “Other Debt Securities” are detailed in Schedule A. The risk analysis for Other Debt Securities is presented in Note 45. |
Financial Assets Pledged as Col
Financial Assets Pledged as Collateral | 12 Months Ended |
Dec. 31, 2020 | |
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Financial Assets Pledged as Collateral | NOTE 12. FINANCIAL ASSETS PLEDGED AS COLLATERAL The Financial Assets Pledged as Collateral valuated in accordance with their underlying asset for the years under analysis are detailed below: 12.31.20 12.31.19 Deposits as Collateral 6,899,443 5,479,776 Special Accounts as Collateral—Argentine Central Bank 11,444,550 10,245,260 Trust as Collateral 373,450 — Total 18,717,443 15,725,036 The restricted availability assets are detailed in Note 52.2. |
Current Income Tax Assets
Current Income Tax Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Current Income Tax Assets | NOTE 13. CURRENT INCOME TAX ASSETS As of the indicated dates, the balances of Current Income Tax Assets correspond to: 12.31.20 12.31.19 Tax Advances 197,094 54,577 Minimum Notional Income Tax – Tax Credit — 564 Total 197,094 55,141 |
Investments In Equity Instrumen
Investments In Equity Instruments | 12 Months Ended |
Dec. 31, 2020 | |
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Investments In Equity Instruments | NOTE 14. INVESTMENTS IN EQUITY INSTRUMENTS The Group’s “Investments in Equity Instruments” are detailed in Schedule A. Prisma Medios de Pago S.A.: Under the framework of the divestment commitment assumed by Prisma Medios de Pago S.A. and its shareholders before the National Commission of Competence Defense, on February 1, 2019, the Group transferred 3,182,444 ordinary shares, representing 7.7007% capital stock of Prisma Medios de Pago SA in favor of AL ZENITH (Netherlands) B.V. (a related party of Advent International Global Private Equity). The total price of the transaction amounted to USD 104,469 thousand, composed of USD 63,073 thousand received on transaction date and USD 41,396 thousand will be paid during the next 5 years. Additionally, the Group has a put option related to Banco Galicia’s right to sell its interest in Prisma Medios de Pago S.A. to AL ZENITH (Netherlands) B.V., the exercise date being 34 months from the date of the transaction. The Group´s remaining holding in Prisma Medios de Pago S.A. has been classified as Investment in equity securities and measured at fair value through profit or loss. |
Equity Investments in Subsidiar
Equity Investments in Subsidiaries, Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2020 | |
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Equity Investments in Subsidiaries, Associates and Joint Ventures | NOTE 15. EQUITY INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES 15.1 Equity Investments in Subsidiaries The basic information regarding Grupo Financiero Galicia’s consolidated subsidiaries is detailed as follows: Direct and Indirect Shareholding Equity Investment Company 12.31.20 12.31.19 12.31.20 12.31.19 Banco de Galicia y Buenos Aires S.A.U. 668,549,353 668,549,353 100.00 % 100.00 % Cobranzas Regionales S.A. 3,910,000 8,300 100.00 % 83.00 % Galicia Administradora de Fondos S.A. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,309 71,310 99.99 % 99.99 % Galicia Retiro Compañía de Seguros S.A. 7,727,271 7,727,271 100.00 % 100.00 % Galicia Securities S.A. 95,392,000 — 100.00 % — Galicia Seguros S.A. 1,830,883 1,830,883 100.00 % 100.00 % Galicia Warrants S.A. 1,000,000 1,000,000 100.00 % 100.00 % IGAM LLC 77,643,963 73,996,713 100.00 % 100.00 % IGAM Uruguay Agente de Valores S.A. 12,000 12,000 100.00 % 100.00 % INVIU S.A.U. 1,000,000 1,000,000 100.00 % 100.00 % Naranja Digital Compañía Financiera S.A.U. 1,012,567,500 541,631,025 100.00 % 83.00 % Ondara S.A. 25,776,101 12,955,140 100.00 % 83.85 % Sudamericana Holding S.A. 185,653 185,653 100.00 % 100.00 % Tarjeta Naranja S.A. 2,824 2,344 100.00 % 83.00 % Tarjetas Regionales S.A. 1,680,183,936 894,552,668 100.00 % 83.00 % The following are the balances of subsidiaries, according to IFRS as of the indicated dates: 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 946,019,300 794,198,155 151,821,145 20,928,333 Cobranzas Regionales S.A. 1,484,287 1,263,843 220,444 (567,858 ) Galicia Administradora de Fondos S.A. 1,382,069 468,718 913,351 1,121,556 Galicia Broker Asesores de Seguros S.A. (**) 47,231 20,345 26,886 40,720 Galicia Retiro Compañía de Seguros S.A. (**) 507,046 396,155 110,891 3,657 Galicia Securities S.A. (***) 2,566,696 2,225,050 341,646 230,062 Galicia Seguros S.A. (**) 4,717,752 3,052,802 1,664,950 1,211,751 Galicia Warrants S.A. 702,846 171,752 531,094 (41,174 ) IGAM LLC 506,066 161,584 344,482 156,518 IGAM Uruguay Agente de Valores S.A. 865 2,800 (1,935 ) (2,802 ) INVIU S.A.U. 433,281 160,078 273,203 160,450 Naranja Digital Compañía Financiera S.A.U. 833,786 54,920 778,866 (431,203 ) Ondara S.A. 31,720 94 31,626 (13,533 ) Sudamericana Holding S.A. (**) 5,916,613 3,329,257 2,587,356 1,318,261 Tarjeta Naranja S.A. 101,268 77,416 23,852 3,315,984 Tarjetas Regionales S.A. 103,071,416 77,507,787 25,563,629 2,160,052 (*) Income attributable to the shareholders of the parent. Not including “Other Comprehensive Income”. (**) Net income for the twelve-month period ended December 31, 2020. (***) Net income for the period between the purchase date and December 31,2020. 12.31.19 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 839,110,959 708,010,986 131,099,973 30,336,364 Cobranzas Regionales S.A. 702,134 316,551 385,583 (299,779 ) Galicia Administradora de Fondos S.A. 612,028 98,149 513,879 302,238 Galicia Broker Asesores de Seguros S.A. (**) 68,001 38,917 29,084 44,140 Galicia Retiro Compañía de Seguros S.A. (**) 488,839 382,963 105,876 (27,432 ) Galicia Securities S.A. — — — — Galicia Seguros S.A. (**) — 2,721,178 (2,721,178 ) 795,761 Galicia Warrants S.A. 793,298 170,513 622,785 171,212 IGAM LLC 3,061,060 2,877,270 183,790 71,697 IGAM Uruguay Agente de Valores S.A. 1,119 — 1,119 (23 ) INVIU S.A.U. 3,056,981 2,875,233 181,748 (19,591 ) Naranja Digital Compañía Financiera S.A.U. 1,195,023 354,860 840,163 (120,719 ) Ondara S.A. 48,201 1,446 46,755 (7,226 ) Sudamericana Holding S.A. (**) 6,064,430 3,356,339 2,708,091 862,867 Tarjeta Naranja S.A. 86,914,652 65,532,267 21,382,385 1,843,861 Tarjetas Regionales S.A. 90,010,710 66,840,431 23,170,279 888,870 (*) Income attributable to the shareholders of the parent. Not including “Other Comprehensive Income”. (**) Net income for the twelve-month period ended December 31, 2019. Corporate Reorganization On September 14, 2020, a Prior Spin-off-Merger Agreement was signed, describing the terms and conditions of the merger by acquisition, by Grupo Financiero Galicia S.A. as the merging company, of the spin-off equity from Dusner S.A., Fedler S.A. and its shareholders, as spin-off companies, jointly holders of 17% of the capital stock of Tarjetas Regionales S.A. The documents related to the Spin-off-Merger Agreement, were approved by the Boards of Directors of Dusner S.A., Fedler S.A. and Grupo Financiero Galicia S.A. on September 14, 2020. At the Extraordinary Meeting of Grupo Financiero Galicia S.A. carried out on November 10, 2020, it was approved the aforementioned documentation, the exchange ratio and the capital increase in the amount of Ps. 47,927, through the issuance of 47,927,494 class B ordinary book-entry shares with a nominal value of Ps. 1 (figure expressed in Argentine pesos) and one vote per share, with the right to participate in the profits of the fiscal year beginning on September 1, 2020. On December 1 5 Consequently, Grupo Financiero Galicia S.A. now has control of 1,680,183,936 shares of Tarjetas Regionales S.A., which represent 100% of the capital stock and 100% of the votes. As of December 31, 2020, the administrative approval procedures for the spin-off of part of the equity of each of the spin-off companies were initiated, before the Public Registry of Commerce, and for the merger by acquisition and capital increase of Grupo Financiero Galicia S.A., before the National Securities Commission. On March 16, 2021 the merger by acquisition and capital increase of Grupo Financiero Galicia S.A. was registered with the Public Registry of Commerce. (See Note 55). Acquisition of an AlyC-type company On May 5, 2020, the Group acquired 100% of the capital stock of Galicia Securities S.A. for a total price of $32,158 paid in full at the acquisition date. Galicia Securities S.A. is authorized to act as a settlement and compensation agent and placement and distribution agent of mutual funds in Argentine. The net identifiable assets and goodwill recognized as of the date of acquisition are $22,956 and $9,202, respectively. The goodwill is attributable to a broker dealer license and it will be deductible for tax purposes. 15.2 Equity Investments in Associates In this fiscal year, Banco Galicia, together with other financial entities, has set up Play Digital S.A. A company whose purpose is to develop and market a payment solution linked to the bank accounts of users of the financial system that will significantly improve their payment experience. The board of directors of said company is made up of key personnel of Banco Galicia, therefore, having significant influence, the investment is measured by the equity method. Company Equity Place of 12.31.20 12.31.19 Play Digital S.A. (*) 15.58 % Autonomous 89,142 — (*) After the closing of these financial statements, Banco Galicia has accepted an offer for the sale of VN 31,145,090 shares to another financial entity. Consequently, the shareholding was reduced to 12.976%. The movements of such investment are as follows: Company 12.31.19 Contributions Profit Sharing in 12.31.20 Play Digital S.A. — 214,195 (125,053 ) 89,142 The basic information regarding Grupo Financiero Galicia’s associates is detailed as follows: 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income Play Digital S.A. 882,481 85,374 797,107 (571,938 ) For more details see Schedule E. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
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Leases | NOTE 16. LEASES This Note provides information for leases where the Grupo is the lessee: (i) Amounts recognized in the Statement of Financial Position: 12.31.20 12.31.19 Right-of-use asset (1) 4,052,593 5,011,534 Real estate 4,052,593 5,011,534 Lease Liabilities (2) 4,363,406 5,129,987 (1) Recorded in the Property, Plant and Equipment item, for right of use of real property, see Note 17. (2) Recorded in the item Other Financial Liabilities, see Note 25. Additions to the right-of-use assets during the financial year were Ps.629,385. The maturity of lease liabilities is disclosed in Note 45. (ii) Amounts recognized in the Statement of Income: 12.31.20 12.31.19 Charge for depreciation of right-of-use assets (1)(2) 1,312,301 1,313,102 Interest Expenses (3) 398,850 511,138 Expenses related to short-term leases (4) 141,700 33,079 Expenses related to low-value assets leases (4) 167,148 102,714 Sublease Income (5) 9,790 2,146 (1) Depreciation for right of use of Real Property. (2) Recorded in the item Depreciation and Impairment of assets, see Note 39. (3) Recorded in the item Other Operating Expenses, Lease Interest, see Note 40. (4) Recorded in the item Administrative Expenses, see Note 38. (5) Recorded in the item Other Operating Income, see Note 34. The evolution of right -of-use assets and lease liabilities during the years 2020 and 2019 and is as follows: Right-of-use assets 12.31.20 12.31.19 Balances at the beginning of the year 5,011,534 6,073,274 Additions 629,385 251,362 Cancellation of contracts (276,025 ) — Depreciation of the year (1,312,301 ) (1,313,102 ) Balances at the end of the year 4,052,593 5,011,534 Lease liabilities (1) 12.31.20 12.31.19 Balances at the beginning of the year 5,129,987 6,073,274 New contracts 629,385 251,362 Cancellation of contracts (269,503 ) — Lease payments (1,333,090 ) (1,361,874 ) Leases financial cost 398,850 511,138 Translation differences and inflation adjustment (192,223 ) (343,913 ) Balances at the end of the year 4,363,406 5,129,987 (1) Recorded in the item Other Financial Liabilities, see Note 25. The total cash flows related to leases was Ps.1,333,090. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
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Property, Plant and Equipment | NOTE 17. PROPERTY, PLANT AND EQUIPMENT Changes in “Property, Plant and Equipment” are detailed in Schedule F. The carrying amounts of “Property, Plant and Equipment” do not exceed their recoverable values. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Intangible Assets | NOTE 18. INTANGIBLE ASSETS Changes in “Intangible Assets” are detailed in Schedule G. The carrying amounts of “Intangible Assets” do not exceed their recoverable values. |
Deferred Income Tax Assets_Liab
Deferred Income Tax Assets/Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Deferred Income Tax Assets/Liabilities | NOTE 19. DEFERRED INCOME TAX ASSETS/LIABILITIES Changes in “Deferred Income Tax Assets and Liabilities” during the fiscal years ended December 31, 2020 and December 31, 2019 are as follows: Deferred Tax Assets Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities 51,229 (51,125 ) — 104 Loans and Other Financing 4,278,791 6,958,396 — 11,237,187 Tax Loss Carryforwards 66,615 246,174 — 312,789 Other Non-financial Assets 15,463 14,465 — 29,928 Allowance for Impairment 9,541 (9,541 ) — — Other Financial Liabilities — 1,861 — 1,861 Subordinated Negotiable Obligations — 7,064 — 7,064 Provisions 2,365,351 (1,577,952 ) — 787,399 Other Non-financial Liabilities 616,418 (208,028 ) — 408,390 Inflation adjustment deferral 7,914,417 3,704,300 — 11,618,717 Others 89,831 125,895 — 215,726 Totals 15,407,656 9,211,509 — 24,619,165 Net deferred tax assets in subsidiaries with net liability position (11,586,278 ) (3,820,292 ) — (15,406,570 ) Deferred tax assets 3,821,378 5,391,217 — 9,212,595 Deferred Tax Liabilities Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities (28,583 ) (1,275,634 ) — (1,304,217 ) Other Financial Assets (71,037 ) 45,911 — (25,126 ) Property, Plant and Equipment (10,343,737 ) (985,021 ) — (11,328,758 ) Intangible Assets (995,392 ) (1,649,968 ) — (2,645,360 ) Other Non-financial Assets (843,466 ) 661,194 — (182,272 ) Non-current Assets Held for Sale (2,102,102 ) 2,102,102 — — Other Financial Liabilities (34,675 ) — — (34,675 ) Subordinated Negotiable Obligations (16,044 ) — — (16,044 ) Provisions (148,504 ) 148,504 — — Other Non-financial Liabilities (18,177 ) 17,769 — (408 ) Foreign Currency Exchange Differences (4,016 ) 1,591 — (2,425 ) Inflation adjustment deferral — (3,816 ) — (3,816 ) Others (1,099 ) 696 — (403 ) Totals (14,606,832 ) (936,672 ) — (15,543,504 ) Net deferred tax liabilities in subsidiaries with net asset position 11,586,278 3,820,292 — 15,406,570 Deferred tax liabilities (3,020,554 ) 2,883,620 — (136,934 ) Deferred Tax Assets Item 12.31.18 Charge to Income Others 12.31.19 Valuation of Securities 1,946 50,636 (1,353 ) 51,229 Loans and Other Financing 6,083,246 (1,804,455 ) — 4,278,791 Tax Loss Carryforwards 8,060 58,555 — 66,615 Other Non-financial Assets 71,195 (55,732 ) — 15,463 Non-current Assets Held for Sale 1,743 (1,743 ) — — Allowance for Impairment 52,378 (42,837 ) — 9,541 Provisions 925,174 1,440,177 — 2,365,351 Other Non-financial Liabilities 886,431 (270,013 ) — 616,418 Foreign Currency Exchange Differences 10,987 (10,987 ) — — Inflation adjustment deferral — 7,914,417 — 7,914,417 Others 47,949 41,882 — 89,831 Totals 8,089,109 7,319,900 (1,353 ) 15,407,656 Net deferred tax assets in subsidiaries with net liability position (6,051,423 ) (5,534,855 ) — (11,586,278 ) Deferred tax assets 2,037,686 1,785,045 (1,353 ) 3,821,378 Deferred Tax Liabilities Item 12.31.18 Charge to Income Others 12.31.19 Valuation of Securities (263,623 ) 235,040 — (28,583 ) Other Financial Assets (103,444 ) 32,407 — (71,037 ) Loans and Other Financing (20,712 ) 20,712 — — Property, Plant and Equipment (8,260,698 ) (2,083,039 ) — (10,343,737 ) Intangible Assets (367,136 ) (628,256 ) — (995,392 ) Other Non-financial Assets (791,093 ) (52,373 ) — (843,466 ) Non-current Assets Held for Sale — (2,102,102 ) — (2,102,102 ) Other Financial Liabilities (33,364 ) (1,311 ) — (34,675 ) Subordinated Negotiable Obligations (36,853 ) 20,809 — (16,044 ) Provisions — (148,504 ) — (148,504 ) Other Non-financial Liabilities — (18,177 ) — (18,177 ) Foreign Currency Exchange Differences — (4,016 ) — (4,016 ) Others (161,278 ) 160,179 — (1,099 ) Totals (10,038,201 ) (4,568,631 ) — (14,606,832 ) Net deferred tax liabilities in subsidiaries with net asset position 6,051,423 5,534,855 — 11,586,278 Deferred tax liabilities (3,986,778 ) 966,224 — (3,020,554 ) In addition, the expiration dates of tax loss carryforwards are as follows: Year of Generation Amount Year Deferred Tax Assets 2018 26,865 2023 8,060 2019 195,185 2024 58,555 2020 820,580 2025 246,174 312,789 |
Assets_Liabilities for Insuranc
Assets/Liabilities for Insurance Contracts | 12 Months Ended |
Dec. 31, 2020 | |
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Assets/Liabilities for Insurance Contracts | NOTE 20. ASSETS/LIABILITIES FOR INSURANCE CONTRACTS Assets related to insurance contracts as of the indicated dates are detailed as follows: Assets from Insurance Contracts 12.31.20 12.31.19 Premiums Receivable 1,857,975 1,576,061 Credits with Reinsurers 1,996 873 Fees Receivables 7,770 5,056 Others 17,649 26,527 Total 1,885,390 1,608,517 Liabilities related to insurance contracts as of the indicated dates are detailed as follows: Liabilities from Insurance Contracts 12.31.20 12.31.19 Debts with Insured Persons 535,743 813,836 Debts with Reinsurers 20,829 4,561 Debts with Co-insurers 1,525 1,999 Debts with Producers 371,664 411,691 Technical Commitments 1,114,124 1,112,838 Others 55,744 — Pending Claims in charge of Reinsures (38,653 ) (345,517 ) Total 2,060,976 1,999,408 Debts with Insured Persons 12.31.20 12.31.19 Property & Casualty Insurance 245,028 539,816 Direct Administrative Insurance 135,738 436,307 Direct Insurance in Lawsuits 5,204 15,323 Direct Insurance in Mediation 1,957 2,184 Settled Claims Payable 5,802 7,635 Pending Claims, Active Reinsurance and Retrocession 3,348 2,868 Claims Incurred but not Reported (IBNR) 92,979 75,499 Life Insurance 290,715 273,773 Direct Administrative Insurance 223,359 239,264 Direct Insurance in Lawsuits 12,448 7,519 Direct Insurance in Mediation 7,988 8,901 Settled Claims Payable 26,487 568 Pending Claims, Active Reinsurance and Retrocession 11,949 9,394 Claims Incurred but not Reported (IBNR) 7,898 7,979 Redemptions Payable 586 148 Creditors for Premiums to be Refunded — — Retirement Insurance — 247 Annuities Payable in Arrears — 11 Others — 236 Total 535,743 813,836 Debt with Reinsurers and Coinsurance Current Account Reinstatement Premiums Minimum Deposit Premium to Be Accrued Deposits Collateral Unpaid Losses to Be Borne by Reinsurers Total Debts with Reinsurers 52,563 — (31,734 ) — (38,653 ) (17,824 ) IBNR in charge of Reinsurers — — — — — — Debts with Co-insurers 1,525 — — — — 1,525 Total as of 12.31.20 54,088 — (31,734 ) — (38,653 ) (16,299 ) Total as of 12.31.19 30,624 — (24,064 ) — (345,517 ) (338,957 ) Debts with Producers 12.31.20 12.31.19 Checking Account—Producers 61,232 110,950 Fees for Premiums Receivable 291,724 259,132 Production Expenses Payable 18,708 41,609 Others — — Total 371,664 411,691 Technical Commitments 12.31.20 12.31.19 Ongoing and Similar Risk 610,475 610,592 Premiums and Surcharges 567,071 591,720 Premiums on Passive Reinsurance (13,979 ) (19,727 ) Active Reinsurance 57,383 38,472 Insufficient Premiums — 127 Mathematical Reserves 503,649 502,246 Mathematical Reserves for Individual Life Insurance 154,345 157,074 Mathematical Reserves for Individual Retirement Insurance 113,185 92,209 Mathematical Reserves of Life Annuities 153,435 183,800 Provision for the Mathematical Reserve Recomposition 14 38 Fluctuation Funds 82,670 69,125 Total 1,114,124 1,112,838 Insurance liabilities were recorded according to the liability adequacy test, using the current estimates of future cash flows derived from insurance contracts. The assumptions used are as follows: 12.31.20 12.31.19 Mortality Table GAM 94 GAM 94 Investment (Discount) Rate Products in USD: 14.77% annually 2.74% Products in Ps.: 7.85% annually Life Insurance Reference Rate 75% of the projection of the BADLAR rate starting from 34.22% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. Projection of Life Insurance Reference Rate based on CER proportion, starting from 1.19% for voluntary retirement, and 0.88% for Annuities. Administrative Expenses 422.18 for voluntary retirement and 2640.45 for annuities 453 for voluntary retirement and 620 for annuities |
Other Non-financial Assets
Other Non-financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Other Non-financial Assets | NOTE 21. OTHER NON-FINANCIAL ASSETS “Other Non-financial Assets” break down as follows: 12.31.20 12.31.19 Payments on behalf of third parties 446,038 380,239 Advances of fee to Directors and Syndics 10,049 6,213 Advance to Personnel 3,558 2,810 Tax Credits 2,208,858 655,859 Payments made in Advance 2,331,734 1,320,929 Advances for Purchase of Assets 487,578 4,032,303 Investment properties (*) 580,667 593,290 Other Sundry Assets Measured at Cost 1,227,359 1,397,084 Assets Taken in Defense of Credits 5,176 5,176 Others 333,410 389,085 Total 7,634,427 8,782,988 (*) Changes in “Investment Properties” are detailed in Schedule F. Related-party information is disclosed in Note 51. |
Non-current Assets Held for Sal
Non-current Assets Held for Sale and Discontinued Operations | 12 Months Ended |
Dec. 31, 2020 | |
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Non-current Assets Held for Sale and Discontinued Operations | NOTE 22. NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS The Group has classified the following assets as “Assets Held for Sale and Discontinued Operations”: 12.31.20 12.31.19 Property, Plant and Equipment Real Estate 29,328 53,106 Total 29,328 53,106 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2020 | |
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Deposits | NOTE 23. DEPOSITS Deposits break down as follows as of the indicated dates: 12.31.20 12.31.19 In Pesos 510,134,336 341,083,760 Checking Accounts 105,026,914 91,984,479 Savings Accounts 182,972,227 80,995,302 Time Deposits 208,712,623 157,927,791 Time Deposits – UVA 5,565,347 1,021,392 Others 1,980,204 2,309,871 Interest and Adjustments 5,877,021 6,844,925 In Foreign Currency 166,261,399 194,949,936 Checking Accounts — — Savings Accounts 134,011,633 160,463,701 Time Deposits 31,133,525 33,122,492 Others 1,023,311 1,277,254 Interest and Adjustments 92,930 86,489 Total 676,395,735 536,033,696 The concentration of deposits is detailed in Schedule H. The breakdown of deposits by remaining term is detailed in Schedule I. The breakdown of deposits by sector is detailed in Schedule P. Related-party information is disclosed in Note 51. |
Liabilities Measured at Fair Va
Liabilities Measured at Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2020 | |
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Liabilities Measured at Fair Value Through Profit or Loss | NOTE 24. LIABILITIES MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS “Liabilities measured at fair value through profit or loss” are detailed in Schedules I and P. They include liabilities for transactions with third-party government securities. |
Other Financial Liabilities
Other Financial Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Other Financial Liabilities | NOTE 25. OTHER FINANCIAL LIABILITIES The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Creditors for Purchase to be Settled 340,249 76,689 Collections and Other Transactions on Behalf of Third Parties 11,041,676 15,977,376 Obligations for Purchase Financing 74,952,107 65,393,841 Creditors for Purchase of Foreign Currency to be Settled 506,226 2,237,420 Accrued Fees Payable 608,453 691,386 Sundry Items Subject to Minimum Cash 1,249,817 881,007 Sundry Items not Subject to Minimum Cash 3,732,783 5,596,529 Lease Liabilities 4,363,406 5,129,987 Other Financial Liabilities 676,748 1,169,389 Total 97,471,465 97,153,624 |
Loans from the Argentine Centra
Loans from the Argentine Central Bank and Other Financial Institutions | 12 Months Ended |
Dec. 31, 2020 | |
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Loans from the Argentine Central Bank and Other Financial Institutions | NOTE 26. LOANS FROM THE ARGENTINE CENTRAL BANK AND OTHER FINANCIAL INSTITUTIONS The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Argentine Central Bank Financing 21,368 30,562 Correspondents 1,927,341 509,031 Financing from Local Financial Institutions 7,036,375 7,621,082 Financing from Foreign Financial Institutions — 14,253,902 Financing from International Financial Institutions 4,848,355 8,521,584 Total 13,833,439 30,936,161 The following table details the credit lines with local and international financial institutions and entities as of the indicated dates: Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.20 (**) Local Institutions 7,057,743 BICE Sundry Dates Ps. 1,655 days 30.7 Sundry Dates 1,330,193 BICE Sundry Dates USD 1,705 days 4.3 Sundry Dates 1,835,023 Agreements with Banks (1) 12.14.20 Ps. 365 days 40.8 12.14.21 3,661,158 Call Taken 12.30.20 Ps. 5 days 29 01.04.21 210,000 Argentine Central Bank 12.30.20 Ps. 5 days — 04.01.21 21,368 Other Lines (2) Sundry Dates Ps. 11 days 48.1 11.01.21 1 International Institutions 6,775,696 Correspondents 12.30.20 USD 5 days — 11.04.21 1,927,341 IFC Sundry Dates USD 1,552 days 3.2 Sundry Dates 4,848,355 Total 13,833,439 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Ecosistema NaranjaX companies’ credit lines. (2) Relates to subsidiaries’ credit lines. Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.19 (**) Local Institutions 7,651,644 BICE Sundry Dates Ps. 1,778 days 47 Sundry Dates 2,642,859 BICE Sundry Dates USD 1,762 days 5.8 Sundry Dates 1,208,875 Call Taken 12.30.19 Ps. 3 days 41.6 01.02.20 682,064 Argentine Central Bank 12.30.19 Ps. 3 days — 02.01.20 30,562 Other Lines (1) Sundry Dates Ps. 364 days 53.9 Sundry Dates 3,087,284 International Institutions 23,284,517 Correspondents 12.31.19 USD 2 days — 02.01.20 509,031 IFC Sundry Dates USD 1,355 days 4.74 Sundry dates 8,521,584 Prefinancing (2) Sundry Dates USD 167 days 6.03 Sundry dates 13,572,955 IDB Sundry Dates USD 361 days 5.73 Sundry dates 680,947 Total 30,936,161 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Ecosistema NaranjaX companies’ credit lines. |
Debt Securities
Debt Securities | 12 Months Ended |
Dec. 31, 2020 | |
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Debt Securities | NOTE 27. DEBT SECURITIES The following is a breakdown of the Global Programs for the Issuance of Debt securities outstanding: Company Authorized Amount (*) Type of Debt Securities Program Approval Date Shareholders’ Meeting CNV Approval Grupo Financiero Galicia S.A. USD 100,000 Simple debt securities not convertible into shares 5 years 03.09.09 Resolution No. 16113 dated 04.29.09 and extended by Resolution No. 17343 dated 05.08.14 and Provision No. DI-2019-63-APN-GE#CNV dated 08.06.19. Authorization of Increase, Resolution No. 17,064 dated 04.25.13 Banco de Galicia y Buenos Aires S.A.U. USD 2,100,000 Simple debt securities, not convertible into shares, subordinated or not, to be adjusted or not, secured or unsecured. 5 years 04.28.05, Resolution No. 15228 dated 11.04.05 and extended through Resolution No. 16454 dated 11.11.10 and Resolution No. 17883 dated 11.20.15 and Resolution No. DI-2020-53-APN-GE#CNV dated 11.24.20. Increase of the amount approved by Resolutions No. 17883 dated 11.20.15, No. 18081 dated 06.10.16, No. 18480 dated 01.26.17 and No. 19520 dated 05.17.18 Banco de Galicia y Buenos Aires S.A.U. USD 2,100,000 Simple debt securities not convertible into shares - 04.25.19 Frequent Issuer Registration No. 11, granted by Resolution No. RESCFC-2019-2055-APN-DIR#CNV, dated 11/13/19 of CNV´s Board of Directors Tarjeta Naranja S.A. USD 1.000.000 Simple debt securities, not convertible into shares 5 years 03.08.12 Resolution No. 15220 dated 07.14.05 and extended through Resolution No. 17676 dated 05.21.15 and No. DI2020-20-APNGE#CNV dated 03.18.20. Increase of the amount approved by Resolutions No. 15.361 dated 03.23.06, 15.785 dated 11.16.07, 16.571 dated 05.24.11, 16.822 dated 05.23.12 and 19.508 dated 05.10.18 Tarjetas Cuyanas S.A. USD 250,000 Simple debt securities, not convertible into shares 5 years 03.30.10 Resolution No. 16328 dated 05.18.10. Increase of the amount approved by Resolution No. 17072 dated 05.02.13 (*) Or its equivalent in any other currency. The Company has the following Unsubordinated Debt securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2020, net of repurchases of Own Debt: Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.20 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 2,032,833 Simple 36 Months 04.26.21 Badlar + 3.50% 04.18.18 1,732,315 Banco de Galicia y Buenos Aires S.A.U. 11.20.20 Ps. VIII (1) 1,589,722 Simple 9 Months 08.20.21 Badlar + 04.20.20 1,255,566 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 2,644,989 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 3,574,897 Simple 549 days 01.08.22 Badlar + 4% 06.30.20 3,609,011 Tarjeta Naranja S.A. 12.18.20 Ps. XLV 3,057,000 Simple 365 days 12.18.21 Badlar + 5% 12.14.20 2,641,113 Tarjeta Naranja S.A. (***) 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 362,247 Total 12,245,241 (*) It includes principal and interest. (**) Not convertible into shares. (***) Negotiable Obligations merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. (1) Issued under the Frequent Issuer Regime. On June 21, 2018, Banco de Galicia y Buenos Aires S.A.U. issued the “Green Bond” which was entirely acquired by the International Finance Corporation. The Green Bond is a 7-year facility, with interest payable every six months. The Green Bond has a 36-month grace period in respect of the repayment of principal, followed by payments in 9 installments due every six months. As of December 31, 2020, the carrying amount of the Green Bond totals Ps.4,828,657, and it amounted to Ps.8,399,358 as of December 31, 2019. The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2019 , net of repurchases of Own Debt: Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.19 Banco de Galicia y Buenos Aires S.A.U. 02.17.17 Ps. III USD150,537 Simple 36 Months 02.17.20 Badlar + 02.06.17 1,443,765 Banco de Galicia y Buenos Aires S.A.U. 05.18.17 Ps. IV 2,000,000 Simple 36 Months 05.18.20 Badlar + 05.08.17 2,357,013 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 4,209,250 Simple 24 Months 04.26.20 Fixed 04.18.18 5,265,353 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 2,032,833 Simple 36 Months 04.26.21 Badlar + 04.18.18 2,454,067 Banco de Galicia y Buenos Aires S.A.U. 11.25.19 Ps. VII (2) 4,182,280 Simple 6 Months 05.25.20 Badlar + 11.13.19 5,815,305 Tarjeta Naranja S.A. 06.29.16 Ps. XXXIV 475,397 Simple 1,461 06.29.20 Minimum 06.21.16 538,916 Tarjeta Naranja S.A. 09.27.16 Ps. XXXV 774,389 Simple 1,461 09.27.20 Minimum 09.15.16 891,958 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 5,911,129 Tarjeta Naranja S.A. 04.10.18 Ps. XL 1,402,500 Simple 914 days 10.10.20 Minimum 03.27.18 1,992,957 Tarjeta Naranja S.A. 11.15.18 Ps. XLI 343,555 Simple 547 days 05.15.20 Badlar + 11.07.18 478,609 Tarjeta Naranja S.A. 02.19.19 Ps. XLIII 1,583,895 Simple 547 days 08.18.20 Badlar + 02.07.19 2,018,633 Tarjeta Naranja S.A. (***) 07.26.16 Ps. XXV 400,000 Simple 1,461 07.26.20 Minimum 07.13.16 577,248 Tarjeta Naranja S.A. (***) 10.24.16 Ps. XXVI 350,237 Simple 1,461 10.24.20 Minimum 10.14.16 507,796 Tarjeta Naranja S.A. (***) 02.10.17 Ps. XXVII 500,000 Simple 1,095 02.10.20 Minimum 02.02.17 647,663 Tarjeta Naranja S.A. (***) 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 508,896 Total 31,409,308 (*) It includes principal and interest. (**) Not convertible into shares. (***) Negotiable Obligations merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. (1) In accordance with the issuance conditions, they were converted into Ps. 2,360,360. The foreign exchange risk is assumed by the investor because the services of interest and principal are calculated based on the amount of principal in Argentine pesos and converted into payments in US dollars on each payment date. (2) Issued under the Frequent Issuer Regime. The repurchases of Own Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of 12.31.20 Book Value (*) 12.31.20 Banco de Galicia y Buenos Aires S.A.U. V Serie II 5,000 5,330 Banco de Galicia y Buenos Aires S.A.U. VIII 79,000 82,207 Tarjeta Naranja S.A. XXXVII 9,620 106,451 Tarjeta Naranja S.A. XLIV 235,000 252,052 Tarjeta Naranja S.A. XLV 440,000 443,520 Tarjeta Naranja S.A. (**) XXVIII Serie II 18,889 19,398 Total 908,958 (*) It includes principal and interest. (**) Debt securities merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. Company ON Class Nominal Value as of 12.31.19 Book Value (*) of 12.31.19 Banco de Galicia y Buenos Aires S.A.U. V Series II 5,000 7,330 Tarjeta Naranja S.A. XXXV Series II 38,500 50,473 Tarjeta Naranja S.A. XXXVII 1,468 34,075 Tarjeta Naranja S.A. XL Series II 34,500 43,535 Tarjeta Naranja S.A. XLI Series II 15,000 21,716 Tarjeta Naranja S.A. XLIII 16,500 18,239 Tarjeta Naranja S.A. (**) XXV 8,000 11,319 Tarjeta Naranja S.A. (**) XXVI Series II 10,000 15,351 Tarjeta Naranja S.A. (**) XXVII Series II 17,442 25,330 Tarjeta Naranja S.A. (**) XXVIII Series II 8,254 11,535 Total 238,903 (*) It includes principal and interest. (**) Debt securities merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. Related-party information is disclosed in Note 51. |
Subordinated Debt Securities
Subordinated Debt Securities | 12 Months Ended |
Dec. 31, 2020 | |
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Subordinated Debt Securities | NOTE 28. SUBORDINATED DEBT SECURITIES The Company has the following subordinated debt securities not convertible into shares issued under the Global Programs detailed in Note 27 as of the close of the fiscal year: Company Placement Date Currency ON Class Nominal Value Term Maturity Date Rate Issuance Authorized by the CNV Book Value as of 12.31.20 (*) Banco de Galicia y Bs. As. S.A.U. 07.19.16 USD II USD250,000 120 months (1) 07.19.26 (2 ) 06.23.16 21,653,546 (*) It includes principal and interest. (1) Amortization shall be fully made upon maturity, on July 19, 2026, unless redeemed, at the issuer’s option, fully at a price equal to 100% of the outstanding principal plus accrued and unpaid interest. (2) Fixed 8.25% rate p.a. (as from the issuance date to July 19, 2021, inclusively); and margin to be added to the nominal Benchmark Readjustment Rate of 7.156% p.a. to the due date of Debt securities. Such interest shall be payable semiannually on January 19 and July 19 as from 2017. Company Placement Date Currency ON Class Nominal Value Term Maturity Date Rate Issuance Authorized by the CNV Book Value as of 12.31.19 (*) Banco de Galicia y Bs. As. S.A.U. 07.19.16 USD II USD250,000 120 months (1) 07.19.26 (2 ) 06.23.16 21,100,718 (*) It includes principal and interest. (1) Amortization shall be fully made upon maturity, on July 19, 2026, unless redeemed, at the issuer’s option, fully at a price equal to 100% of the outstanding principal plus accrued and unpaid interest. (2) Fixed 8.25% rate p.a. (as from the issuance date to July 19, 2021, inclusively); and margin to be added to the nominal Benchmark Readjustment Rate of 7.156% p.a. to the due date of Debt securities. Such interest shall be payable semiannually on January 19 and July 19 as from 2017. The net proceeds from this issuance of debt securities was applied to investments in working capital, loans, other loans and other uses envisaged by the provisions of the Law on Debt securities and the Argentine Central Bank regulations. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
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Provisions | NOTE 29. PROVISIONS The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 For Administrative, Disciplinary and Criminal Penalties 5,306 7,224 For Termination Benefits 220,824 233,287 Others 3,550,167 3,499,223 Total 3,776,297 3,739,734 Changes in the “Provisions” account for fiscal year 2020 are detailed in Schedule J. See Note 46 for further details. |
Other Non-financial Liabilities
Other Non-financial Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Other Non-financial Liabilities | NOTE 30. OTHER NON-FINANCIAL LIABILITIES The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Creditors for sale of assets 594,481 601,965 Tax withholdings and collections payable 6,755,148 5,193,979 Payroll and Social Contributions Payable 7,057,226 6,446,491 Withholdings on Payroll Payable 371,236 366,972 Fess to Directors and Syndics 221,520 96,834 Value-Added Tax 851,232 867,885 Sundry Creditors 4,447,128 4,097,837 Taxes Payable 3,270,895 3,600,729 Obligations Arising from Contracts with Customers 1,348,700 1,654,612 Retirement payment orders pending settlement 90,588 100,941 Other Non-financial Liabilities 250,074 211,082 Total 25,258,228 23,239,327 Deferred income resulting from contracts with customers includes the liabilities for the “ Quiero The following table shows the estimated use of the liabilities recorded as of this fiscal year-end. Terms Item Up to 12 Months Up to 24 Months Over 24 Months Total Liabilities – “ Quiero 632,815 271,377 210,402 1,114,594 |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2020 | |
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Capital Stock | NOTE 31. CAPITAL STOCK The capital stock structure is detailed in Schedule K. Due to the spin-off-merger in Tarjetas Regionales S.A. non-controlling interest, mentioned in Note 15.1, the Company increased its capital by 47,927,494 Class B shares. On March 16, 2021 the capital increase of Grupo Financiero Galicia S.A. was registered with the Public Registry of Commerce. The expenses related to the capital increase amounted to Ps. 13,149 and are deducted from the share premium. The Company has no own shares in portfolio. The Company’s shares are listed on Bolsas y Mercados Argentinos (BYMA), Mercado Abierto Electrónico S.A. (MAE) and the National Association of Securities Dealers Automated Quotation (NASDAQ). |
Income Statement Breakdown
Income Statement Breakdown | 12 Months Ended |
Dec. 31, 2020 | |
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Income Statement Breakdown | NOTE 32. INCOME STATEMENT BREAKDOWN Breakdown of: Interest Income, Fee Income and Net Income from Financial Instruments Measured at Fair Value through Profit or Loss are detailed in Schedule Q. |
Exchange Rate Differences on Go
Exchange Rate Differences on Gold and Foreign Currency | 12 Months Ended |
Dec. 31, 2020 | |
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Exchange Rate Differences on Gold and Foreign Currency | NOTE 33. EXCHANGE RATE DIFFERENCES ON GOLD AND FOREIGN CURRENCY The account breaks down as follows as of the indicated dates: Arising from: 12.31.20 12.31.19 12.31.18 For Purchase sale of foreign currency 5,958,974 17,214,089 12,543,415 For Valuation of Assets and Liabilities in Foreign Currency 1,088,473 (5,382,637 ) (4,633,158 ) Total 7,047,447 11,831,452 7,910,257 |
Other Operating Income
Other Operating Income | 12 Months Ended |
Dec. 31, 2020 | |
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Other Operating Income | NOTE 34. OTHER OPERATING INCOME The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Fees for Product Package 6,296,738 5,684,656 5,719,226 Other Adjustments and Interest on sundry Credits 5,246,030 3,110,290 3,349,720 Rental of Safety Deposit Boxes 1,295,199 1,010,452 1,080,908 Other Financial Income 579,211 1,577,962 353,035 Other Income from Services 4,237,539 3,341,244 6,176,597 Income for sale of non-currents assets held for sale (1) — 9,676,346 1,027,022 Others 4,667,914 4,368,482 4,156,472 Total 22,322,631 28,769,432 21,862,980 (1) Includes the profit on sale of the interest in Prisma Medios de Pago S.A. See Note 14. |
Underwriting Income from Insura
Underwriting Income from Insurance Business | 12 Months Ended |
Dec. 31, 2020 | |
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Underwriting Income from Insurance Business | NOTE 35. UNDERWRITING INCOME FROM INSURANCE BUSINESS The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Premiums and Surcharges Accrued 7,789,375 7,607,216 9,816,413 Claims Accrued (1,126,864 ) (1,052,763 ) (1,122,301 ) Redemptions (16,844 ) (18,273 ) (12,084 ) Fixed and Periodic Annuities (13,588 ) (15,758 ) (17,887 ) Production and Operating Expenses (1,064,782 ) (1,515,532 ) (2,691,169 ) Other Income and Expenses (65,490 ) (4,021 ) 36,195 Total 5,501,807 5,000,869 6,009,167 |
Loan Loss Provision
Loan Loss Provision | 12 Months Ended |
Dec. 31, 2020 | |
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Loan Loss Provision | NOTE 36. LOAN LOSS PROVISION The changes in the loss allowance between the beginning and the end of the annual period are detailed in Note 45. |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Personnel Expenses | NOTE 37. PERSONNEL EXPENSES The following are the items included in the account as of the indicated dates: 12.31.20 12.31.19 12.31.18 Payroll 19,789,826 20,504,481 24,414,768 Social Contributions on Payroll 4,553,002 4,500,774 3,592,936 Personnel Compensations and Rewards 5,811,760 6,424,341 5,717,492 Services for Personnel 765,223 972,727 1,128,695 Other Short-term Personnel Expenses 781,545 746,668 687,034 Other Long-term Personnel Expenses 123,745 135,970 116,861 Total 31,825,101 33,284,961 35,657,786 |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Administrative Expenses | NOTE 38. ADMINISTRATIVE EXPENSES The Group presented its statement of comprehensive income by function. Under this method, expenses are classified according to their function as part of the item “Administrative Expenses”. The table below provides the required additional information about expenses by nature and function as of the indicated dates: 12.31.20 12.31.19 12.31.18 Fees and Remunerations for Services 2,722,767 3,980,217 2,547,784 Directors’ and Syndics’ Fees 472,614 222,405 364,805 Advertising and Publicity 1,742,441 2,959,534 2,676,622 Taxes 7,362,438 7,051,537 7,056,470 Maintenance and Repairs of Assets and Systems 5,295,507 4,911,367 2,964,636 Electricity and Communications 2,371,181 2,484,059 2,013,488 Representation and Travel Expenses 58,367 172,242 214,300 Stationery and Office Supplies 419,380 513,980 441,083 Rentals 308,848 135,793 1,730,626 Administrative Services under Contract 4,230,573 3,369,599 2,709,994 Security 1,162,314 1,332,404 1,169,699 Insurance 251,297 179,940 951,802 Armored Transportation Services 1,559,087 2,803,034 2,367,736 Others 3,414,808 2,989,088 6,465,260 Total 31,371,622 33,105,199 33,674,305 |
Depreciation and Impairment of
Depreciation and Impairment of Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Depreciation and Impairment of Assets | NOTE 39. DEPRECIATION AND IMPAIRMENT OF ASSETS The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Depreciation of Property, Plant and Equipment 5,173,340 4,979,957 2,336,535 Amortization of Organization and Development Expenses 2,989,613 1,909,413 1,117,154 Others 121,333 5,574 6,015 Total 8,284,286 6,894,944 3,459,704 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Other Operating Expenses | NOTE 40. OTHER OPERATING EXPENSES The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Turnover Tax 15,662,817 17,813,939 18,110,558 Contributions to the Deposit Insurance Scheme 1,059,292 1,175,021 1,069,850 Charges for Other Provisions 2,868,794 2,314,952 2,211,921 Claims 375,311 457,762 650,078 Other Financial Expenses 286,002 2,498,764 1,144,612 Interest on leases 398,850 511,138 - Credit-card-relates expenses 4,486,875 6,046,394 6,161,264 Other Expenses from Services 3,920,476 2,978,819 4,455,969 Others 1,705,344 1,286,029 1,587,179 Total 30,763,761 35,082,818 35,391,431 |
Income Tax_Deferred Tax
Income Tax/Deferred Tax | 12 Months Ended |
Dec. 31, 2020 | |
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Income Tax/Deferred Tax | NOTE 41. INCOME TAX/DEFERRED TAX The following is a reconciliation of income tax charged to income as of December 31, 2020, as compared to the previous fiscal year: 12.31.20 12.31.19 12.31.18 Income Before Income Tax for the Year 43,022,883 51,046,575 6,339,833 Current Tax Rate 30 % 30 % 30 % Income for the Year at Tax Rate (12,906,866 ) (15,313,973 ) (1,901,950 ) Permanent Differences at Tax Rate - Income for Equity Instruments (37,516 ) - 434,390 - Untaxed Income 166,909 130,190 378,202 - Donations and Other Non-deductible Expenses (32,018 ) (21,627 ) (138,057 ) - Other (3,001,548 ) (83,089 ) (851,579 ) - Allowance for Impairment - - (3,954 ) - Inflation effect (10,569,560 ) (12,260,928 ) (13,426,074 ) - Tax Adjustment under Law 27430 695,456 (116,806 ) 965,898 - Tax inflation adjustment 2,895,013 1,680,922 - - Tax inflation adjustment deferral 5,090,717 7,914,419 - Total Income Tax Charge for the Year (17,699,413 ) (18,070,892 ) (14,543,124 ) 12.31.20 12.31.19 12.31.18 Current Income Tax (26,644,905 ) (20,759,986 ) (14,495,373 ) Deferred Tax Charge (*) 8,274,837 2,751,269 831,822 Allowance for Impairment (*) — — (3,954 ) Tax Return adjustment from previous fiscal year 670,655 (62,175 ) (172,442 ) Law 27430 adjustment — — (703,177 ) Total Income Tax Charge for the Year (17,699,413 ) (18,070,892 ) (14,543,124 ) 12.31.20 12.31.19 12.31.18 Current Income Tax (26,644,905 ) (20,759,986 ) (14,495,373 ) Tax Advances 11,417,431 6,717,751 7,254,160 Current Income Tax Liabilities (15,227,474 ) (14,042,235 ) (7,241,213 ) (*) See Note 19. As of December 31, 2020, several claims filed by Banco Galicia for refund of the Income Tax paid in excess for the fiscal years 2014, 2015, 2016, 2017, 2018 and 2019, for the amounts of Ps.433,815, Ps.459,319, Ps.944,338, Ps.866,842, Ps.3,646,842 and Ps.4,403,712, respectively, were submitted to the Federal Administration of Public Revenue (Administración Federal de Ingresos Públicos, AFIP). These presentations are based on Argentine jurisprudence that establishes the unconstitutionality of the rules disabling the application of the adjustment for tax inflation, resulting in confiscatory situations. As the AFIP delayed its resolution, the corresponding judicial claims were filed. At the closing of these Financial Statements, Banco Galicia does not record assets related to the contingent assets derived from the aforementioned presentations. Identical claims were filed by other Group subsidiaries before the AFIP: Tarjeta Naranja S.A., for 2014 and 2016 fiscal years, for a total amount of Ps. 580,164, nominal value. Tarjetas Cuyanas S.A., (Tarjeta Naranja S.A. predecessor company), for 2014 and 2016 fiscal years, for an amount of Ps. 145,478, nominal value, and Tarjetas Regionales S.A., for 2017 and 2018 periods, for an amount of Ps. 326,498 and Ps. 973,843, nominal value, respectively. In light of the delay in the resolution by the AFIP, the corresponding judicial claims were filed. In the same terms as for the rest of the years claimed, on May 26, 2020, Tarjeta Naranja S.A. filed before the AFIP a claim for the repetition of the Income Tax corresponding to fiscal year 2019 for Ps. 1,364,949 in nominal value. Tax Reform On December 29, 2017, the National Government enacted Income Tax Law No. 27430. This law has introduced several changes to the previous income tax treatment. Some of the key changes involved in the reform include: • Income Tax Rate: The income tax rate for Argentine companies shall be gradually reduced from 35% to 30% for fiscal years commencing on January 1, 2018 until December 31, 2019, and to 25% for fiscal years commencing on, and including, January 1, 2020. • Tax on Dividends: The law has introduced a tax on dividends or profits distributed by Argentine companies or permanent establishments, among others, to: individuals, undivided interests or foreign beneficiaries, subject to the following considerations: (i) dividends distributed out of the profits made during fiscal years commencing on January 1, 2018 until December 31, 2019 shall be subject to withholding at a 7% rate; and (ii) dividends distributed out of the profits made during fiscal years commencing on January 1, 2020 onwards shall be subject to withholding at a 13% rate. Dividends distributed from profits earned until the fiscal year before that commenced on January 1, 2018 shall remain subject, in respect of all beneficiaries, to withholding at the 35% rate on the amount in excess of tax-free distributable accumulated profits (equalization tax transition period). • Optional Tax Revaluation: Regulations establish that, at the companies’ option, the tax revaluation of assets located in the country and that are used for generating taxable income may be made. The special tax on the revaluation amount depends on the asset: 8% is for real estate that does not qualify as inventories, 15% for real estate that qualifies as inventories and 10% for personal property and the remaining assets. Once the option for a given asset is exercised, all the other assets of the same category should be revalued. Taxable income resulting from the revaluation is not subject to income tax and the special tax on the revaluation amount will not be deductible from such tax. On December 23, 2019, the Argentine Government enacted Law 27,541, which introduced several changes for processing the Income Tax: • Income tax rate: the reduction is suspended of the tax rate for fiscal years commenced up to January 1, 2021; therefore, for fiscal years closing on December 31, 2020 and December 31, 2021, the rate is established at 30%. • Inflation adjustment: The inflation adjustment for the first and second fiscal year commenced January 1, 2019, must be charged one sixth (1/6) in that fiscal period, and the remaining five sixths (5/6), in equal parts, in the following five immediate fiscal periods. As of the closing date of these consolidated financial statements, the Group verified that the parameters established by the Law on Income Tax for the application of the tax inflation adjustment are met; consequently, this adjustment has been considered to determine the income tax for the fiscal year. The effect of the deferral of five-sixths of the inflation taxable income has been recognized as a deferred tax asset. (See Note 19). |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2020 | |
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Dividends | NOTE 42. DIVIDENDS The Ordinary and Extraordinary Shareholders’ Meeting held on April 28, 2020 approved the Financial Statements as of December 31, 2019 and the treatment of income for the fiscal year ended on that date. Said Meeting approved Retained Earnings distribution, allocating Ps. 4,000,000 (equivalent to Ps. 4,977,135 as of December 31, 2020) to Optional Reserve for Future Income Distribution. The Extraordinary Shareholders’ Meeting held on September 22, 2020, approved the partial use of the aforementioned reserve for the amount of Ps. 1,700,000 (equivalent to Ps.1,892,559 as of December 31, 2020) and the distribution of cash dividends for the same amount, which represented Ps. 1.19 (figure expressed in Argentine pesos) per share. On October 5, 2020, the aforementioned dividends were paid to the Company’s Shareholders. The Ordinary and Extraordinary Shareholders’ Meeting held on April 25, 2019 approved the financial statements as of December 31, 2018 and the treatment of income for the fiscal year then ended. The dividends approved by such Shareholders’ Meeting amounted to Ps.2,000,000 (which is equal to Ps.3,622,432 as of December 31, 2020) and represented Ps.1.40 (figure stated in Pesos) per share. The dividends mentioned above were paid to the Group’s shareholders on May 9, 2019. The Ordinary and Extraordinary Shareholders’ Meeting held on April 24, 2018 approved the financial statements as of December 31, 2017 and the treatment of income for the fiscal year then ended. The dividends approved by such Shareholders’ Meeting amounted to Ps.1,200,000 (which is equal to Ps.3,386,137 as of December 31, 2020) and represented Ps.1.40 (figure stated in Pesos) per share. The dividends mentioned above were paid to the Group’s shareholders on May 9, 2018. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
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Earnings Per Share | NOTE 43. EARNINGS PER SHARE Earnings per share are calculated by dividing income attributable to parent company´s owners by the weighted average number of outstanding ordinary shares during the year. As the Group does not have preferred shares or debt convertible into shares, basic earnings are equal to diluted earnings per share. 12.31.20 12.31.19 12.31.18 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 25,191,673 32,276,377 (7,258,414 ) Weighted Average Ordinary Shares 1,442,740 1,426,765 1,426,765 Earnings per Share 17.46 22.62 (5.09 ) |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2020 | |
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Segment Reporting | NOTE 44. SEGMENT REPORTING The Group determines segments based on management reports that are reviewed by the Board of Directors and updated as they show changes. Reportable segments are one or more operating segments with similar economic characteristics, distribution channels and regulatory environments. Below there is a description of each business segment’s composition: a. Banks: It represents the banking business operation results. b. Ecosistema Naranja X: This segment represents the results of operations of brand credit cards, consumer finance and digital banking services business. Includes the results of operations of Tarjetas Regionales S.A. consolidated with its subsidiaries, as follows: Cobranzas Regionales S.A., Ondara S.A., Naranja Digital Companía Financiera S.A.U. and Tarjeta Naranja S.A. c. Insurance: This segment represents the results of operations of the insurance companies’ business and includes the results of operations of Sudamericana Holding S.A. consolidated with its subsidiaries, as follows: Galicia Retiro Cía. de Seguros S.A., Galicia Seguros S.A. and Galicia Broker Asesores de Seguros S.A. d. Other Businesses: This segment shows the results of operations of Galicia Administradora de Fondos S.A., Galicia Warrants S.A., IGAM LLC, Inviu S.A.U., IGAM Uruguay Agente de Valores S.A., Galicia Securities S.A. and Grupo Financiero Galicia S.A., the last net of eliminations of the income from equity investments. e. Adjustments: This segment includes consolidation adjustments and eliminations of transactions among subsidiaries. The operating income (loss) of the Group’s different operating segments is monitored separately in order to make decisions on resource allocation and the evaluation of each segment’s performance. Segment performance is evaluated based on operating income or losses and is consistently measured with the operating income and losses of the consolidated income statement. Intersegment transactions are at arm’s length similarly to transactions performed with third parties. Income, expenses and income (losses) resulting from the transfers among operating segments are then eliminated from consolidation. The Group operates in one geographic segment, Argentina. The relevant segment reporting as of the indicated dates is as follows: Banks Ecosistema Insurance Other Adjustments Total as of 12.31.20 Net Income from interest 58,831,043 16,840,974 726,890 6,846 226,467 76,632,220 Net fee Income 20,979,744 16,669,667 — (6,111 ) (1,085,741 ) 36,557,559 Net Income from Financial Instruments measured at fair value through Profit or Loss 65,986,310 1,989,036 77,616 1,279,844 (904 ) 69,331,902 Income from Derecognition of Assets Measured at Amortized Cost (3,129 ) — — — — (3,129 ) Exchange rate Differences on Gold and Foreign Currency 6,024,766 370,320 (27,351 ) 679,712 — 7,047,447 Other Operating Income 17,172,602 3,474,652 504,655 2,364,197 (1,193,475 ) 22,322,631 Income from Insurance Business — — 3,496,191 — 2,005,616 5,501,807 Loan and other Receivables Loss Provisions (29,971,572 ) (4,724,863 ) 16,686 — — (34,679,749 ) Personnel Expenses (22,089,728 ) (8,079,947 ) (1,217,560 ) (437,866 ) — (31,825,101 ) Administrative Expenses (21,429,312 ) (8,678,399 ) (656,618 ) (728,295 ) 121,002 (31,371,622 ) Depreciation and Impairment of Assets (6,116,752 ) (1,868,167 ) (270,398 ) (28,969 ) — (8,284,286 ) Other Operating Expenses (23,844,607 ) (6,669,879 ) (4,357 ) (259,377 ) 14,459 (30,763,761 ) Loss on net monetary position (30,367,677 ) (4,918,855 ) (815,279 ) (861,402 ) — (36,963,213 ) Operating Income 35,171,688 4,404,539 1,830,475 2,008,579 87,424 43,502,705 Share of profit from Associates and Joint Ventures 33,214 — — — (158,267 ) (125,053 ) Income before Taxes from Continuing Operations 35,204,902 4,404,539 1,830,475 2,008,579 (70,843 ) 43,377,652 Income Tax from Continuing Operations (14,276,569 ) (2,245,164 ) (512,214 ) (810,925 ) — (17,844,872 ) Net Income / (Loss) from Continuing Operations 20,928,333 2,159,375 1,318,261 1,197,654 (70,843 ) 25,532,780 Net Income / (Loss) for the Year 20,928,333 2,159,375 1,318,261 1,197,654 (70,843 ) 25,532,780 Other Comprehensive Income (Loss) (206,818 ) 210 (2,861 ) 159 — (209,310 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 20,721,515 2,160,262 1,315,400 1,197,813 (412,627 ) 24,982,363 Net Income for the Year Attributable to Non-controlling Interests — (677 ) — — 341,784 341,107 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.19 Net Income from interest 32,442,139 13,268,259 1,144,609 72,097 490,269 47,417,373 Net fee Income 21,760,110 17,674,484 — 494 (1,201,852 ) 38,233,236 Net Income from Financial Instruments measured at fair value through Profit or Loss 95,152,485 3,505,253 97,496 396,262 — 99,151,496 Income from Derecognition of Assets Measured at Amortized Cost 298,801 — — — — 298,801 Exchange rate Differences on Gold and Foreign Currency 11,298,851 165,900 (3,767 ) 370,468 — 11,831,452 Other Operating Income 23,726,714 4,921,986 538,849 1,158,077 (1,576,194 ) 28,769,432 Income from Insurance Business — — 2,611,331 — 2,389,538 5,000,869 Loan and other Receivables Loss Provisions (22,228,541 ) (8,088,703 ) 89,576 — — (30,227,668 ) Personnel Expenses (24,303,615 ) (7,543,907 ) (1,109,048 ) (328,391 ) — (33,284,961 ) Administrative Expenses (23,885,413 ) (8,247,798 ) (711,576 ) (434,955 ) 174,543 (33,105,199 ) Depreciation and Impairment of Assets (5,021,671 ) (1,558,316 ) (291,429 ) (23,528 ) — (6,894,944 ) Other Operating Expenses (28,555,476 ) (6,378,283 ) (501 ) (157,840 ) 9,282 (35,082,818 ) Loss on net monetary position (33,702,521 ) (6,306,209 ) (1,035,951 ) (884,221 ) — (41,928,902 ) Operating Income 46,981,863 1,412,666 1,329,589 168,463 285,586 50,178,167 Share of profit from Associates and Joint Ventures 78,244 — — — (78,244 ) — Income before Taxes from Continuing Operations 47,060,107 1,412,666 1,329,589 168,463 207,342 50,178,167 Income Tax from Continuing Operations (16,723,744 ) (523,435 ) (466,721 ) (36,782 ) — (17,750,682 ) Net Income / (Loss) from Continuing Operations 30,336,363 889,231 862,868 131,681 207,342 32,427,485 Net Income / (Loss) for the Year 30,336,363 889,231 862,868 131,681 207,342 32,427,485 Other Comprehensive Income (Loss) 562,786 — (14,588 ) — — 548,198 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 30,899,149 888,870 848,280 131,681 56,595 32,824,575 Net Income for the Year Attributable to Non-controlling Interests — 361 — — 150,747 151,108 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.18 Net Income from interest 49,448,811 19,221,483 886,426 257,238 58,588 69,872,546 Net fee Income 26,131,171 18,702,137 — (4,995 ) (71,981 ) 44,756,332 Net Income from Financial Instruments measured at fair value through Profit or Loss 33,481,710 1,853,832 45,655 960,312 — 36,341,509 Income from Derecognition of Assets Measured at Amortized Cost 464,175 — — — — 464,175 Exchange rate Differences on Gold and Foreign Currency 7,726,274 (106,375 ) 8,668 281,690 — 7,910,257 Other Operating Income 14,553,653 7,711,474 343,021 1,937,686 (2,682,854 ) 21,862,980 Income from Insurance Business — — 3,376,653 — 2,632,514 6,009,167 Loan and other Receivables Loss Provisions (22,770,955 ) (11,202,106 ) (163,186 ) — — (34,136,247 ) Personnel Expenses (24,154,702 ) (10,034,170 ) (1,203,784 ) (265,130 ) — (35,657,786 ) Administrative Expenses (21,900,686 ) (10,377,775 ) (855,854 ) (604,877 ) 64,887 (33,674,305 ) Depreciation and Impairment of Assets (2,134,670 ) (1,117,648 ) (191,572 ) (15,814 ) — (3,459,704 ) Other Operating Expenses (26,853,098 ) (8,386,926 ) (842 ) (150,565 ) — (35,391,431 ) Loss on net monetary position (27,237,770 ) (8,051,841 ) (1,173,907 ) (1,366,921 ) — (37,830,439 ) Operating Income 6,753,913 (1,787,915 ) 1,071,278 1,028,624 1,154 7,067,054 Share of profit from Associates and Joint Ventures 39,842 — — — (39,842 ) — Income before Taxes from Continuing Operations 6,793,755 (1,787,915 ) 1,071,278 1,028,624 (38,688 ) 7,067,054 Income Tax from Continuing Operations (10,491,620 ) (2,693,213 ) (648,744 ) (643,211 ) — (14,476,788 ) Net Income / (Loss) from Continuing Operations (3,697,865 ) (4,481,128 ) 422,534 385,413 (38,688 ) (7,409,734 ) Loss from Discontinued Operations (526,463 ) — — (17,540 ) — (544,003 ) Income Tax from Discontinued Operations (63,469 ) — — (2,867 ) — (66,336 ) Net Income / (Loss) for the Year (4,287,797 ) (4,481,128 ) 422,534 365,006 (38,688 ) (8,020,073 ) Other Comprehensive Income (Loss) (161,113 ) — (22,105 ) — — (183,218 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners (4,448,910 ) (4,480,349 ) 400,429 365,006 722,192 (7,441,632 ) Net Income for the Year Attributable to Non-controlling Interests — (779 ) — — (760,880 ) (761,659 ) Banks Ecosistema Insurance Other Adjustments Total as of 12.31.20 ASSETS Cash and Due from Banks 172,308,807 2,188,741 39,612 2,278,879 (1,392,563 ) 175,423,476 Debt Securities at fair value through profit or loss 155,892,300 91,762 — 173,800 (738,302 ) 155,419,560 Derivative Financial Instruments 2,165,032 — — — — 2,165,032 Repurchase Transactions 60,995,643 — — — — 60,995,643 Other Financial Assets 6,920,271 1,281,954 815,104 1,077,956 (1,659 ) 10,093,626 Loans and Other Financing 439,306,303 88,545,787 473,165 1,463,755 (3,354,891 ) 526,434,119 Other Debt Securities 21,448,751 174,456 1,617,826 — (170,656 ) 23,070,377 Financial Assets Pledged as Collateral 18,639,697 9,126 — 68,620 — 18,717,443 Current Income Tax Assets — 36,242 160,852 — — 197,094 Investments in Equity Instruments 5,709,565 — — 2,119 — 5,711,684 Equity Investments in Associates and Joint Ventures 480,530 — — — (391,388 ) 89,142 Property, Plant and Equipment 38,189,687 4,859,111 646,688 35,934 — 43,731,420 Intangible Assets 12,850,061 1,534,001 73,415 4,436,289 (4,424,945 ) 14,468,821 Deferred Income Tax Assets 5,300,716 3,625,102 176,642 110,135 — 9,212,595 Assets for Insurance Contracts — — 1,885,937 — (547 ) 1,885,390 Other Non-financial Assets 5,782,609 725,134 27,372 1,099,312 — 7,634,427 Non-current Assets Held for Sale 29,328 — — — — 29,328 TOTAL ASSETS 946,019,300 103,071,416 5,916,613 10,746,799 (10,474,951 ) 1,055,279,177 LIABILITIES Deposits 678,102,758 5 — — (1,707,028 ) 676,395,735 Liabilities at Fair Value Through Profit or Loss — — — — — — Derivative Financial Instruments 57,450 — — — — 57,450 Other Financial Liabilities 40,888,983 55,323,990 — 2,107,556 (849,064 ) 97,471,465 Financing Received from the Argentine Central Bank and Other Financial Institutions 10,192,180 5,794,722 — 1 (2,153,464 ) 13,833,439 Debt Securities 7,904,075 10,078,781 — — (908,958 ) 17,073,898 Current Income Tax Liabilities 13,030,588 1,189,775 446,188 560,923 — 15,227,474 Subordinated Debt Securities 21,653,546 — — — — 21,653,546 Provisions 3,432,729 145,058 136,010 62,500 — 3,776,297 Deferred Income Tax Liabilities — — — 136,934 — 136,934 Liabilities for Insurance Contracts — — 2,060,999 — (23 ) 2,060,976 Other Non-financial Liabilities 18,935,846 4,975,456 686,060 700,947 (40,081 ) 25,258,228 TOTAL LIABILITIES 794,198,155 77,507,787 3,329,257 3,568,861 (5,658,618 ) 872,945,442 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.19 ASSETS Cash and Due from Banks 175,814,936 5,618,935 103,152 963,415 (4,634,039 ) 177,866,399 Debt Securities at fair value through profit or loss 89,441,583 — 49,837 70 (60,112 ) 89,431,378 Derivative Financial Instruments 3,170,815 — — — — 3,170,815 Repurchase Transactions 40,944,933 — — — — 40,944,933 Other Financial Assets 7,780,625 6,186,615 435,406 467,944 (10,390 ) 14,860,200 Loans and Other Financing 421,122,047 65,928,775 358,620 3,428,355 (2,693,645 ) 488,144,152 Other Debt Securities 21,962,083 1,786,664 2,323,480 — (178,791 ) 25,893,436 Financial Assets Pledged as Collateral 15,713,219 9,617 555 2,200 (555 ) 15,725,036 Current Income Tax Assets — 20,983 — 34,158 — 55,141 Investments in Equity Instruments 6,200,459 — — — — 6,200,459 Equity Investments in Associates and Joint Ventures 419,309 — — — (419,309 ) — Property, Plant and Equipment 39,565,282 4,636,630 621,167 54,281 — 44,877,360 Intangible Assets 9,698,756 1,995,236 140,317 1,243,959 (1,243,960 ) 11,834,308 Deferred Income Tax Assets — 3,428,499 260,000 132,879 — 3,821,378 Assets for Insurance Contracts — — 1,608,517 — — 1,608,517 Other Non-financial Assets 7,223,806 398,757 163,377 1,000,001 (2,953 ) 8,782,988 Non-current Assets Held for Sale 53,106 — — — — 53,106 TOTAL ASSETS 839,110,959 90,010,711 6,064,428 7,327,262 (9,243,754 ) 933,269,606 LIABILITIES — Deposits 541,621,151 — — — (5,587,455 ) 536,033,696 Liabilities at Fair Value Through Profit or Loss 1,936,133 — — — — 1,936,133 Derivative Financial Instruments 1,199,533 — — — — 1,199,533 Other Financial Liabilities 51,640,464 43,416,663 — 2,844,848 (748,351 ) 97,153,624 Financing Received from the Argentine Central Bank and Other Financial Institutions 27,848,878 3,999,344 4,205 — (916,266 ) 30,936,161 Debt Securities 25,742,191 14,305,377 — — (238,902 ) 39,808,666 Current Income Tax Liabilities 12,544,435 1,249,899 203,138 44,763 — 14,042,235 Subordinated Debt Securities 21,100,718 — — — — 21,100,718 Provisions 3,379,110 147,522 174,984 38,118 — 3,739,734 Deferred Income Tax Liabilities 2,577,307 — 324,818 118,429 — 3,020,554 Liabilities for Insurance Contracts — — 2,004,865 — (5,457 ) 1,999,408 Other Non-financial Liabilities 18,421,066 3,721,626 644,329 536,361 (84,055 ) 23,239,327 TOTAL LIABILITIES 708,010,986 66,840,431 3,356,339 3,582,519 (7,580,486 ) 774,209,789 |
Capital Management and Risk Pol
Capital Management and Risk Policies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Capital Management and Risk Policies | NOTE 45. CAPITAL MANAGEMENT AND RISK POLICIES The tasks related to risk information and internal control of each of the companies controlled by Grupo Financiero Galicia are defined and carried out rigorously by each of them. Apart from applicable local regulations, Grupo Financiero Galicia S.A., in its capacity as a listed company in the United States of America, complies with the certification of its internal controls pursuant to Section 302 of the Sarbanes Oxley Act (Sarbanes Oxley). Corporate risk management is monitored by the Audit Committee, which as well gathers and analyzes the information submitted by the main controlled companies. As concerns risks, Banco Galicia embraces a policy that takes into consideration several aspects of the business and operations, abiding by the main guidelines of internationally accepted standards. The specific function of the comprehensive management of Banco Galicia’s risks has been allocated to the Risk Division, guaranteeing its independence from the rest of the business areas since it directly reports to the Bank’s General Division and, at the same time, is involved in the decisions made by each area. In addition, the control and prevention of risks related to money laundering, funding of terrorist activities and other illegal activities are allocated to the Prevention of Asset Laundering Division, which reports to the Board of Directors. The aim of both divisions is to guarantee the Board of Directors is fully aware of the risks that the Bank is exposed to, and to design and propose policies and procedures necessary to identify, assess, follow up, control and mitigate such risks. A Risk Appetite framework has been specified, which has risk acceptance levels, both on an individual and a consolidated basis. Metrics have been defined within such framework, which are monitored in order to detect situations that may affect the normal course of business, the noncompliance with the strategy and undesired results and/or situations of vulnerability in the face of changes in market conditions. The Risk and Capital Allocation Committee considers and controls the Bank’s risk profile through a risk appetite report and defines the actions to be carried out in case of potential deviations from the thresholds set. Capital Management The Company’s goals are to generate returns to its shareholders, benefits to other groups of interest and keep the best capital structure. The latter will be given by the needs for investment in subsidiaries and new ventures, keeping the expected profitability levels and complying with the liquidity and solvency goals set. Banco Galicia’s subsidiary determines the minimum capital requirement for each risk, in accordance with Argentine Central Bank regulations. The capital risk management is cross-sectional with respect to the other risks. Senior management is responsible for monitoring, overseeing, adjusting and ensuring compliance with its stated goals concerning capital management. The Capital Adequacy Assessment Process ( Proceso de Evaluación de Suficiencia de Capital To perform stress tests, four scenarios with different likelihood of occurrence are defined, which could affect the solvency and liquidity. The most likely to occur scenarios are used in management stress testing and are referred to when defining Risk Appetite thresholds. The least-likely to occur or least-severe scenarios are used in developing the Recovery Plan, which specifies the protocol defined for situations or events that may compromise the Bank’s operational capacity. As of December 31, 2020, and December 31, 2019, Banco Galicia complied with the minimum capital requirement established by the Argentine Central Bank regulations. Computable Regulatory Capital (RPC, as per the initials in Spanish) is made up of Core Capital and Supplementary Capital. Banco Galicia’s balance for such items as of December 31, 2020 and December 31, 2019 is as follows: 12.31.20 12.31.19 Basic Shareholders´ Equity 162,178,965 74,314,620 (Deductible Items) (32,594,504 ) (12,922,467 ) Equity Tier 1 129,584,461 61,392,153 Complementing shareholders’ Equity 27,477,066 19,392,341 Equity Tier 2 27,477,066 19,392,341 Regulatory Capital (RPC) 157,061,527 80,784,494 The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.20 12.31.19 Credit Risk 42,457,859 29,148,582 Market Risk 1,419,264 904,939 Operational Risk 12,192,078 7,608,102 Minimum Capital Requirement 56,069,201 37,661,623 Integration 157,061,527 80,784,494 Excess 100,992,326 43,122,871 Financial Risks Financial risk is a phenomenon inherent to the financial brokerage activity. The exposure to the different financial risk factors is a natural circumstance that cannot be completely avoided without affecting the Group’s long-term economic viability. However, the lack of management regarding risk exposures is one of the most significant short-term threats. Risk factors need to be identified and managed within a specific policy framework that envisages the profile and the level of risk it has been decided to take to achieve long-term strategic goals. Market Risk The “price risk” is the possibility of incurring losses as a consequence of the variation of the market price of financial assets whose value is subject to negotiation. Financial assets subject to “trading” or allocated to “own positions” will be government and private debt securities, shares, currencies, derivatives and debt instruments issued by the Argentine Central Bank. Brokerage/trading transactions that are allowed and regulated by the Policy are as follows: • Brokerage of Government and Provincial Securities. • Brokerage of Currencies on the Spot and Futures Markets . • Brokerage of Interest Rate Derivatives. Interest Rate Futures and Interest Rate Swaps. • Brokerage of Debt Instruments Issued by the Argentine Central Bank. • Brokerage of Third-party Debt securities. • Brokerage of Shares. For the fiscal year 2020, a unified limit was set for all operations of $4,250,000. The “price risk” (market) is daily managed according to the strategy approved, the purpose of which is to keep the Group present in the different currencies, variable- and fixed-income and derivatives markets, while obtaining the maximum return as possible on brokerage, without exposing the latter to excessive risk levels. Finally, the designed policy contributes to providing transparency and facilitates the perception of the risk levels to which it is exposed. In order to measure and monitor risks derived from the variation in the price of financial instruments that form the trading or brokerage securities portfolio, a model known as “Value at Risk” (also known as “VaR”) is used. This model determines the possible loss that could be generated by different financial instruments at each time under the following critical parameters. Currency Risk The Group’s exposure to the foreign exchange risk as of year-end by type of currency is shown below: Balances as of 12.31.20 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 212,122 (210,940 ) — 1,182 Euro 4,401 (802 ) — 3,599 Canadian Dollar 134 (4 ) — 130 Real 34 — — 34 Swiss Franc 52 (30 ) — 22 Others 103 (3 ) — 100 Total 216,846 (211,779 ) — 5,067 Balances as of 12.31.19 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 265,631 (267,422 ) 30 (1,761 ) Euro 3,105 (399 ) — 2,706 Canadian Dollar 116 (5 ) — 111 Real 1 — — 1 Swiss Franc 44 (23 ) — 21 Others 103 (5 ) — 98 Total 269,000 (267,854 ) 30 1,176 Balances as of 12.31.20 Balances as of 12.31.19 Currency Change Income (Loss) Shareholders’ Equity Income (Loss) Shareholders’ Equity US Dollar 10 % 118 1,300 176 (1,937 ) -10 % (118 ) 1,064 (176 ) (1,585 ) Euro 10 % 360 3,959 271 2,977 -10 % (360 ) 3,239 (271 ) 2,436 Canadian Dollar 10 % 13 143 11 121 -10 % (13 ) 117 (11 ) 99 Real 10 % 3 37 — 1 -10 % (3 ) 31 — 1 Swiss Franc 10 % 2 24 1 22 -10 % (2 ) 20 (1 ) 18 Others 10 % 10 110 10 108 -10 % (10 ) 90 (10 ) 88 Interest Rate Risk The different sensitivity of assets and liabilities to changes in “market interest rates” exposes the Group to the “interest rate risk”. It is the risk that the financial margin and the economic value of equity may vary as a consequence of fluctuations in market interest rates. The magnitude of such variation is associated with the sensitivity to interest rates of the structure of the Group’s assets and liabilities. This risk factor (the change in interest rates) has an impact on two key variables: the “Net Financial Income (Expense)” and the “Present Value of Shareholders’ Equity”. These methodologies imply a “short-term” approach for which a “base scenario” is subject to an increase in “interest rates” estimating the variation in “Financial Income (Expense)”. Caps on such changes in variables subject to control are fixed. As regards the “long-term” approach, statistical interest rate simulations are made and a “critical” scenario results from the interest rate risk exposure presented by the financial statements structure. The economic capital arises from the resulting difference between the “critical” scenario and the market value as per the financial statements. The Group’s exposure to the interest rate risk is detailed below. This table shows the residual value of assets and liabilities, classified by the sooner of the interest renegotiation date or the maturity date. Term (in Days) Assets and Liabilities at Variable Rate Up to 30 From 30 to From 90 to From 180 to More than Total As of 12.31.20 Total Financial Assets 329,561,051 81,048,347 73,404,578 122,032,475 331,583,426 937,629,877 Total Financial Liabilities 525,873,217 66,622,888 17,447,849 8,728,360 204,482,905 823,155,219 Net Amount (196,312,166 ) 14,425,459 55,956,729 113,304,115 127,100,521 114,474,658 As of 12.31.19 Total Financial Assets 274,590,418 69,553,555 69,742,708 61,211,792 340,621,292 815,719,765 Total Financial Liabilities 377,563,393 61,431,217 33,503,067 4,678,139 212,118,123 689,293,939 Net Amount (102,972,975 ) 8,122,338 36,239,641 56,533,653 128,503,169 126,425,826 The table below shows the sensitivity to potential additional changes in interest rates in the next fiscal year, considering the breakdown as of December 31, 2020. The percentage change budgeted by the Group for fiscal year 2020 was determined considering 100 bps and changes are considered reasonably possible on the basis on an observation of market conditions. Additional Changes to the Interest Rate Increase/(Decrease) in Income before Income Tax in Pesos Increase/(Decrease) in Shareholders’ Equity in % Decrease in Interest Rate -100 pb (1,130,532 ) -1 % Increase in Interest Rate +100 pb 1,130,532 1 % Liquidity Risk It contemplates the risk that the Group is unable to offset or liquidate a position at market value because: • the assets that are part thereof do not have a sufficient secondary market; or • market changes. In measuring and daily following up the “stock liquidity” an internal model is used, which contemplates the characteristics of behavior of the Group’s main funding sources. Based on the Group’s experience in connection with the changes in deposits and other liabilities, this model determines the “liquidity requirements” applied to liabilities subject to the policy and give rise to the “Management Liquidity Requirement”. In determining these liquid resources, the remaining term of liabilities is also contemplated, as well as the currency in which they are denominated. The resulting liquidity requirement is allocated to “eligible assets” set by the policy. The management liquidity requirement, along with the legal minimum cash requirements, are part of the total liquidity available. Daily liquidity management is supplemented by the estimated available funds or needs for the day, considering the opening balance of Argentine Central Bank’s account, deducting the daily minimum requirement and including the main movements for the day. The latter results in the overestimated/underestimated balance that will be considered by operators in order to place funds or meet the financing needs. The monthly liquidity follow-up and control from the “flow” standpoint, called “liquidity mismatch/liquidity gap”, are performed by estimating the accumulated mismatches within the first year as a percentage of total liabilities. The gap methodology used (contractual gaps) is consistent with the best international practices in the field. In addition, the concentration of deposits is followed up and measured. In order to mitigate this risk factor, the policy designed restricts the involvement of two groups of customers to the total deposits: the first 10 customers and second 50 customers. The table below shows an analysis of maturities of assets and liabilities, determined based on the remaining period as of December 31, 2020 and December 31, 2019, based on undiscounted cash flows: Less than 1 1 to 6 Months 6 to 12 Months 12 Months to 5 Years More than 5 Years Total as of 12.31.20 Assets Debt Securities measured at Fair Value through Profit or Loss 152,729,877 564,114 3,180,660 432,222 — 156,906,873 Derivative Financial Instruments 547,929 — — — — 547,929 Repurchase Transactions 61,778,505 — — — — 61,778,505 Other Financial Assets 7,677,635 100,805 122,168 3,065,831 — 10,966,439 Loans and Other Financing 165,672,357 204,326,574 135,444,263 93,566,134 30,542,150 629,551,478 Other Debt Securities 25,403,983 — — — — 25,403,983 Financial Assets Pledged as Collateral 18,717,443 — — — — 18,717,443 Investments in Equity Instruments 3,745,893 — — — — 3,745,893 Liabilities Deposits 636,596,852 45,007,577 2,563,927 122,377 27 684,290,760 Liabilities at fair value through profit or loss — — — — — — Derivative Financial Instruments 57,450 — — — — 57,450 Other Financial Liabilities 93,004,399 24,479 27,441 80,500 — 93,136,819 Lease liabilities 154,855 724,867 795,298 3,700,393 1,376,069 6,751,482 Financing Received from the Argentine Central Bank and Other Financial Institutions 2,607,987 3,290,896 6,137,695 3,736,864 — 15,773,442 Debt Securities 736,438 6,156,557 8,055,337 6,349,253 — 21,297,585 Subordinated Debt Securities 855,858 — 855,858 7,559,716 21,871,443 31,142,875 Less than 1 1 to 6 Months 6 to 12 Months 12 Months to 5 Years More than 5 Years Total as of 12.31.19 Assets Debt Securities measured at Fair Value through Profit or Loss 88,378,198 1,197,484 19,642 212,016 7,157 89,814,497 Derivative Financial Instruments 1,903,979 — — — — 1,903,979 Repurchase Transactions 41,828,680 — — — — 41,828,680 Other Financial Assets 11,221,494 — — — — 11,221,494 Loans and Other Financing 180,043,930 178,211,585 80,880,191 131,022,366 35,994,787 606,152,859 Other Debt Securities 28,143,083 — — — — 28,143,083 Financial Assets Pledged as Collateral 15,725,036 — — — — 15,725,036 Investments in Equity Instruments 3,400,065 — — — — 3,400,065 Liabilities Deposits 488,012,093 56,841,558 2,974,312 105,337 44 547,933,344 Liabilities at fair value through profit or loss 1,936,133 — — — — 1,936,133 Derivative Financial Instruments 1,199,533 — — — — 1,199,533 Other Financial Liabilities 92,068,438 — — — — 92,068,438 Lease Liabilities 83,613 434,437 542,376 2,630,481 1,439,080 5,129,987 Financing Received from the Argentine Central Bank and Other Financial Institutions 5,064,925 14,694,200 5,828,763 8,446,270 — 34,034,158 Debt Securities 4,721,798 24,857,077 5,653,122 13,796,603 930,705 49,959,305 Subordinated Debt Securities 827,691 — 827,691 7,279,079 22,997,121 31,931,582 Credit Risk Credit risk arises from the possibility of suffering losses due to a debtor’s or counterparty’s noncompliance with its contractual obligations. It is the one that requires the greatest need for capital, including that arising from the risk of individual and sectorial concentration, which represents supplementary approximations to the intrinsic credit risk. Accordingly, the Group uses credit assessment and risk monitoring tools that allow the entity to manage risks in a streamlined and controlled manner and that foster the adequate diversification of portfolios, both on an individual basis and by economic sector, thus controlling its exposure to potential risks. The credit quality of debt securities as of December 31, 2020 is as follows: Government Securities Rating Government Bonds Provincial Bonds Autonomous City of Aires Bonds Treasury Argentine Central Bank’s Bills Private Securities Total as of 12.31.20 AAA 2,335,283 — — 16,964,950 — 703,421 20,003,654 AA+ — — 90,199 — — 296 90,495 AA — — — — — 56,802 56,802 Aa2 — — — — — 32,226 32,226 AA- 47,643 — — — — 894,582 942,225 A+ — — — — — 1,263 1,263 A1 — — — — — 180,683 180,683 A1+ — — — — — 820,913 820,913 A — — — — — 21,481 21,481 A2 — — — — — 108 108 A- — — — — — 40,605 40,605 A3 — 200,768 — — — — 200,768 Baa1 — — 1,000 — — 29,226 30,226 Baa3 — — — — — 13,293 13,293 B — 539,371 — — — — 539,371 CCC 4,103,429 — — — — — 4,103,429 C — — — — 128,324,920 17,098 128,342,018 Total 6,486,355 740,139 91,199 16,964,950 128,324,920 2,811,997 155,419,560 The credit quality of debt securities as of December 31, 2019 is as follows: Government Securities Rating Government Bonds Provincial Bonds Autonomous City of Aires Bonds Treasury Argentine Central Bank’s Bills Private Securities Total as of 12.31.19 AAA 422,241 — — 8,485,627 — — 8,907,868 AA+ — — 60,303 — — 7,229 67,532 AA — — — — — 130,577 130,577 AA- — — — — — 14,920 14,920 A+ — — — — — 175,635 175,635 A1+ — — — — — 639,014 639,014 A- — — — — — 48,862 48,862 A3 — — — — — 102,484 102,484 Baa1 — — 103,666 — — — 103,666 BBB 12,875 — — — — 20,580 33,455 B- — — — — — 6,336 6,336 CC 36,962 — — — 79,153,628 — 79,190,590 C — — — — — 10,439 10,439 Total 472,078 — 163,969 8,485,627 79,153,628 1,156,076 89,431,378 Summary of credit risk The following disclosures present the gross carrying amount of financial instruments to which the impairment requirements in IFRS 9 are applied and the associated allowance for loan losses. Those credits that do not have reasonable expectations of recovering the contractual cash flows are eliminated from the Group’s assets and are recognized in “Off-balance Items”. The credit quality related to loans granted is detailed in Schedule B. The breakdown by term of “Net Loans and Other Financing” is detailed in Schedule D. Impairment of financial assets The “Expected Credit Loss” (“ECL”) model applies to financial assets which are valued at both amortized cost and fair value through OCI. The standard establishes three categories to classify financial instruments, primarily considering the credit risk evolution over time. Stage 1 includes financial assets with normal or no significant risk associated; Stage 2 includes financial assets for which a significant increase in credit risk (“SICR”) has been identified but they are not yet deemed to be credit-impaired and Stage 3 comprises financial assets which are impaired and/or subject to serious risk of impairment. To calculate the provisions for credit impairment risk, IFRS 9 differentiates between each of the three stages. The resulting concepts are explained as follows: • Expected Credit Losses within a 12-month period: possible events of default within the 12 months following the date of the presentation of financial statements. Assets included in Stage 1 have their ECL measured at 12-month ECL. • Lifetime Expected Credit Losses: ECL during the active period of the financial asset, which results of calculating the probability of impairment of an asset throughout its duration, up until its maturity. Instruments in Stage 2 or 3 have their ECL measured based on lifetime ECL. A pervasive concept in measuring ECL in accordance with IFRS 9 is that it should consider forward looking information. The Group has included below an explanation on how it has incorporated this in its ECL models. Grouping of instruments for losses measured on a collective basis For expected credit loss provisions modelled on a collective basis, a grouping of exposures is performed based on shared risks characteristics, such that risk exposures within group are homogeneous. In performing this grouping, there must be sufficient information for the group to be statistically credible. Where sufficient information is not available internally, the Group has considered benchmarking internal/external supplementary data to use for modelling purposes. The Group has identified four groupings: Retail, Retail-like, Wholesale and Naranja, amongst these four segments the Group estimates parameters in a more granular way based on the shared risk characteristics. Stage classification Each subsidiary of Grupo Galicia classifies financial instruments subject to impairment under IFRS 9 in stages, as follows: • Stage 1: in the case of retail portfolios, it includes every operation up to 31 days past due. In the case of wholesale portfolios, it considers every client whose BCRA situation indicates a normal status (A 1 • Stage 2: considers two groups: • Portfolios between 31 and 90 days past due. • Probability of Default (“PD”) or Score with impairment risk. • For wholesale, it considers credit ratings for which the risk of default has increased significantly (see definition in section below). • Stage 3: For retail portfolios, it includes every operation amounting 90 or more days past due. For wholesale portfolios, it considers every client whose BCRA situation indicates serious risk of bankruptcy (C, D, E). Significant Increase in credit risk The Group considers a financial instrument to have experienced a significant increase in credit risk when any of the following conditions exist: 1 The analysis of the customer’s cash flow shows that it is capable of attend adequately all its financial commitments. Retail Portfolio BCRA situation Extra conditions to be considered stage 2 A, B1 - Cure - Between 30 and 90 past due days - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients Retail-like Portfolio BCRA situation Extra conditions to be considered stage 2 A, B1 - Cure - Between 30 and 90 past due days - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients Wholesale Portfolio BCRA situation Extra conditions to be considered stage 2 A - Cure - BCRA situation B1 - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients (*) Internal scoring. Definition of Default A financial asset is in default whenever a payment is more than 90 days past due, or if the Company considers the payment will not be fully reimbursed. However, given the credit analysis for wholesale loans is not managed and classified the same way as retail loans, the default definition associated to wholesale portfolios is ultimately linked to the individual analysis provided by credit analysts. The default definition has been applied consistently to model the Probability of Default (PD), Exposure at Default (EAD) and Loss given Default (LGD) throughout the Group’s expected loss calculations: • Probability of Default (“PD”): it represents the likelihood of a borrower defaulting on its financial obligation (as per the definition of default included above), either over the next 12 months or the remaining lifetime of the obligation. • Exposure at the moment of Default (“EAD”): it is based on the amounts the Group expects to be owed at the time of default, over the next 12 months or over the remaining lifetime. For example, for a revolving commitment, the Group includes the current draw down balance plus any further amount that it is expected to be drawn up to the current contractual limit by the time of default, should it have occurred. • Loss given Default (“LGD”): represents the Group´s expectation of the extent of loss on a defaulted exposure. LGD varies by type of counterparty, type of seniority of claim and availability of collateral or other credit support. LGD is expressed as a percentage loss per unit of exposure at the time of default. LGD is calculated on a 12 month or lifetime basis, where 12-month LGD is the percentage of loss expected to be made if a default occurs in the next 12 months and Lifetime LGD is the percentage of loss expected to be made if a default occurs over the remaining expected lifetime of the loan. An instrument is considered to no longer be in default when it no longer meets any of the default criteria above mentioned. Methodology for Expected Credit Loss estimation Expected credit loss impairment allowances recognized in the financial statements reflect the effect of a range of possible economic outcomes, calculated on a probability-weighted basis, based on the economic scenarios described below. The recognition and measurement of expected credit losses (‘ECL’) involves the use of significant judgment and estimation. It is necessary to formulate multiple forward-looking economic forecasts and incorporate them into the ECL estimates. Grupo Galicia uses a standard framework to form economic scenarios to reflect assumptions about future economic conditions, supplemented with the use of management judgment, which may result in using alternative or additional economic scenarios and/or management adjustments. IFRS 9 establishes the following standards regarding the estimation of credit loss: • An unbiased weighted probability index determined by the evaluation of different outcomes. • Time value of money • Reasonable and sustainable information available at no additional cost or effort that provides evidence to support forecasts, as well as present conditions and past events. According to IFRS 9, the company prepared three different scenarios with different probabilities: a central scenario with 70 % probability of occurrence, a downside scenario with 15 % probability of occurrence and an upside scenario with 15 % probability of occurrence. Scenario Probabilities Base Optimistic Pessimistic Retail, Retail like and Wholesale 70 % 15 % 15 % Naranja 70 % 15 % 15 % In order to account for time value of money, the Company assumes expected losses will take place according to the PD behavior. The ECL is determined by projecting the PD, EAD and LGD for each future month or collective segment. These three components are multiplied together and adjusted for forward looking information. This effectively calculates an ECL for each future month, which is then discounted back to the reporting date and summed. The discount rate used in the ECL calculation is the original effective interest rate or an approximation thereof. Key macroeconomic variables used in the scenarios described below are shown in the table: Macroeconomic Variable Projections QI - 2020 QII - 2020 QIII - 2020 QIV - 2020 GDP Base -2.8 % 15.6 % 2.5 % -0.7 % GDP Optimistic -2.2 % 17.8 % 5.1 % 2.7 % GDP Pessimistic -3.1 % 14.2 % -3.8 % -10.2 % Unemployment Rate Base 7.6 % -15.6 % -10.4 % -12.3 % Unemployment Rate Optimistic 16.3 % -10.1 % -11.3 % -15.3 % Unemployment Rate Pessimistic 20.1 % 6.2 % 21.9 % 34.8 % Real Salary Base -16.6 % -8.6 % -1.7 % 3.3 % Real Salary Optimistic -13.2 % -7.7 % -2.1 % 4.3 % Real Salary Pessimistic -10.9 % -4.7 % -3.7 % -5.9 % Badlar Base 48.8 % 42.2 % 31.1 % 4.3 % Badlar Optimistic 38.3 % 25.9 % 13.0 % -13.0 % Badlar Pessimistic 15.0 % 35.4 % 101.7 % 44.9 % These variations were calculated based on annual basis. Grupo Galicia has also carried out sensitivity analysis to assess the impact of volatility on macroeconomic variables on the result of the expected credit losses. Scenario 1 (change in the probability of the macroeconomic scenarios) Base scenario Sensitivity Regular scenario 70 % 45 % Positive scenario 15 % 10 % Negative scenario 15 % 45 % Grupo Financiero Galicia ECL 37,332,952 38,008,542 Retail, Retail like and Wholesale ECL 31,187,671 31,703,980 Naranja ECL 6,145,281 6,304,562 Scenario 2 (change in forecast PIB, inflation, nominal exchange rate, unemployment, current account) Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP -5 % 1 % -15 % Unemployment Rate -8 % -6 % 40 % Real Salary -2 % -4 % -5 % Badlar 40 % 10 % 120 % Grupo Financiero Galicia ECL 37,467,704 Retail, Retail like and Wholesale RCL 31,101,450 Naranja ECL 6,366,254 Post-model adjustments Since March 2020, the Argentine Central Bank implemented a series of measures to reduce the economic consequences of COVID-19 pandemic, among which are the deferral of payments and suspension of the collection of punitive interest in case of default in payments of loan installments, being the credit cards loans excluded from this benefit. Thus, considering the adverse economic context that the country is going through, borrower credit uncertainty and measures issued by the Argentine Central Bank, the management recognized an additional credit loss allowance to that obtained through the statistical model of ECL on the deferred loan portfolio, which shows the potential impairment due to the macroeconomic context, once the implemented measures are lifted by the Argentine Central Bank. The management measured the additional impact on the allowance from the estimation of the expected credit loss of loan portfolios which have deferred payments, based on new probabilities of default (PD) estimated using adjusted roll rates for the affected segments (mortgage, personal ,and restructured loans within the retail portfolio and debt notes of the retail like portfolio). The overlay also included a “Lifetime Adjustment”. Maximum exposure to credit risk Unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when they are 30 days past due (“DPD”) and are transferred from stage 1 to stage 2. The following disclosure presents the ageing of stage 2 financial assets. It distinguishes those assets that are classified as stage 2 when they are less than 30 days past due (1-29 DPD) from those that are more than 30 DPD (30 and >DPD). Past due financial instruments are those loans where customers have failed to make payments in accordance with the contractual terms of their facilities. The following table contains an analysis of the credit risk exposure of financial instruments for which an ECL allowance is recognized. Retail Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 115,540,641 47,518,146 — 163,058,787 147,407,781 1-30 1,378,181 1,164,534 1,509,705 4,052,420 4,448,958 31-60 — 997,662 48,665 1,046,327 1,940,358 61-90 — 561,381 94,732 656,113 1,093,520 Default — — 5,556,973 5,556,973 5,829,065 Gross Carrying amount 116,918,822 50,241,723 7,210,075 174,370,620 160,719,682 Loss allowance (4,954,235 ) (12,628,050 ) (5,893,949 ) (23,476,234 ) (14,299,064 ) Net Carrying amount 111,964,587 37,613,673 1,316,126 150,894,386 146,420,618 Retail like Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 104,800,495 12,159,876 961,171 117,921,542 51,512,818 1-30 968,840 542,107 218,040 1,728,987 2,729,542 31-60 — 209,942 6,511 216,453 305,087 61-90 — 45,021 15,885 60,906 435,629 Default — — 1,187,351 1,187,351 3,318,130 Gross Carrying amount 105,769,335 12,956,946 2,388,958 121,115,239 58,301,206 Loss allowance (559,205 ) (2,130,872 ) (1,831,739 ) (4,521,816 ) (4,103,299 ) Net Carrying amount 105,210,130 10,826,074 557,219 116,593,423 54,197,907 Wholesale Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 263,742,041 12,556,395 — 276,298,436 288,340,517 B1 — 1,002,250 — 1,002,250 514,223 Default — — 796,138 796,138 6,638,965 Gross Carrying amount 263,742,041 13,558,645 796,138 278,096,824 295,493,705 Loss allowance (1,959,717 ) (623,103 ) (606,801 ) (3,189,621 ) (7,096,646 ) Net Carrying amount 261,782,324 12,935,542 189,337 274,907,203 288,397,059 Naranja December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 85,988,867 1,003,472 263,172 87,255,511 61,842,678 1-30 3,231,993 225,959 56,048 3,514,000 3,652,592 31-60 — 853,081 47,855 900,936 1,760,530 61-90 — 373,206 30,348 403,554 919,425 Default — — 1,974,836 1,974,836 7,597,388 Gross Carrying amount 89,220,860 2,455,718 2,372,259 94,048,837 75,772,613 Loss allowance (3,707,641 ) (589,155 ) (1,848,485 ) (6,145,281 ) (10,092,365 ) Net Carrying amount 85,513,219 1,866,563 523,774 87,903,556 65,680,248 Retail Portfolio December 31, 2019 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 106,961,239 39,204,462 |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2020 | |
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Contingencies and Commitments | NOTE 46. CONTINGENCIES AND COMMITMENTS a) Tax Issues At the date of these consolidated financial statements, provincial tax collection authorities, as well as tax collection authorities from the Autonomous City of Buenos Aires, are in the process (in different degrees of completion) of conducting reviews and assessments mainly in respect of matters resulting from applying turnover tax. These proceedings and their possible effects are constantly being monitored. Even though it is considered that it has complied with its tax liabilities in full pursuant to current regulations, the provisions deemed adequate pursuant to the evolution of each proceeding have been set up. b) Consumer Protection Associations Consumer Protection Associations, on behalf of consumers, have filed claims against Banco Galicia regarding the collection of certain financial charges. The Group believes that the resolution of these controversies will not have a significant impact on its financial condition. c) Penalties Imposed on Banco de Galicia y Buenos Aires S.A.U. and Summary Proceedings Commenced by the Argentine Central Bank The penalties imposed and the summary proceedings commenced by the Argentine Central Bank are detailed in Note 52. The provisions for contingencies recorded are as follows: 12.31.20 12.31.19 Other Contingencies 3,708,589 3,672,138 For Commercial Lawsuits/Legal matters 2,758,425 2,862,007 For Labor Lawsuits 268,689 230,095 For Claims and Credit Cards 1,097 1,493 For Guarantees Granted 1,142 1,555 For Other Contingencies 458,412 343,701 For Termination Benefits 220,824 233,287 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 62,402 60,372 Administrative, Disciplinary and Criminal Penalties 5,306 7,224 Total 3,776,297 3,739,734 |
Offsetting of Financial Assets
Offsetting of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Offsetting of Financial Assets and Liabilities | NOTE 47. OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES Financial assets and liabilities are offset and the net amount is reported in the statement of financial position where the Group currently has a legally enforceable right to offset the recognized amounts, and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The disclosures in the following tables include financial assets and liabilities that: • are offset in the Group’s consolidated statement of financial position; or • are subject to a netting agreement or similar agreement that covers similar financial instruments, regardless of whether they are offset in the consolidated statement of financial position. Financial instruments such as loans and deposits are not disclosed in the following tables since they are not offset in the consolidated statement of financial position. The financial instruments subject to offsetting, master netting agreements and similar agreements as of December 31, 2020 and 2019 are as follows: Offsetting effects on Statement of Related amounts not 12.31.20 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 27,671 — 27,671 (25,086 ) 2,585 Total 27,671 — 27,671 (25,086 ) 2,585 Financial Liabilities Derivate Instruments 31,493 — 31,493 (25,086 ) 6,407 Total 31,493 — 31,493 (25,086 ) 6,407 Offsetting effects on Statement of Related amounts not 12.31.19 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 116,438 — 116,438 (99,124 ) 17,314 Total 116,438 — 116,438 (99,124 ) 17,314 Financial Liabilities Derivate Instruments 170,930 — 170,930 (99,124 ) 71,806 Total 170,930 — 170,930 (99,124 ) 71,806 |
Off-balance Sheet Items
Off-balance Sheet Items | 12 Months Ended |
Dec. 31, 2020 | |
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Off-balance Sheet Items | NOTE 48. OFF-BALANCE SHEET ITEMS In the normal course of business and in order to meet customers’ financing needs, off-balance sheet transactions are performed. These instruments expose the Group to the credit risk, in addition to loans recognized in assets. These financial instruments include credit lending commitments, letters of credit reserve, guarantees granted and acceptances. The same credit policies for agreed credits, guarantees and loan granting are used. Outstanding commitments and guarantees do not represent an unusually high credit risk. Agreed Credits They are commitments to grant loans to a customer in a future date, subject to compliance with certain contractual agreements that usually have fixed maturity dates or other termination clauses and may require a fee payment. Commitments are expected to expire without resorting to them. The total amounts of agreed commitments do not necessarily represent future cash requirements. Each customer’s solvency is assessed case by case. Guarantees Granted The issuing bank commits to reimbursing the loss to the beneficiary if the secured debtor does not comply with its obligation upon maturity. Export and Import Documentary Credits They are conditional commitments issued by the Group to secure a customer’s compliance towards a third party. Responsibilities for Foreign Trade Transactions They are conditional commitments for foreign trade transactions. Our exposure to credit loss upon the other party’s default in the financial instrument is represented by the contractual notional amount of the same investments. The credit exposure for these transactions is detailed below. 12.31.20 12.31.19 Agreed Credits 33,133,907 27,162,163 Documentary Export and Import Credits 2,483,005 3,534,722 Guarantees Granted 12,658,942 21,963,779 Liabilities for Foreign Trade Operations 916,751 2,317,141 The fees and commissions related to the items mentioned above as of the indicated dates were as follows: 12.31.20 12.31.19 For Agreed Credits 19,432 141,340 For Documentary Export and Import Credits 104,595 123,828 For Guarantees Granted 72,070 327,608 The credit risk of these instruments is essentially the same as that involved in lending credit facilities to customers. To grant guarantees to our customers, we may require counter-guarantees, which, classified by type, amount to: 12.31.20 12.31.19 Other Preferred Guarantees Received 65,887 1,265,645 Other Guarantees Received 285,247 713,086 Additionally, checks to be debited and credited, as well as other elements in the collection process, such as, notes, invoices and miscellaneous items, are recorded in memorandum accounts until the related instrument is approved or accepted. The risk of loss in these offsetting transactions is not significant. 12.31.20 12.31.19 Values to be Debited 7,001,365 7,311,215 Values to be Credited 10,518,835 9,197,463 Values for Collection 85,197,420 52,424,444 The Group acts as trustee by virtue of trust agreements to secure obligations derived from several agreements between parties. The amounts of trust funds and securities held in custody as of the indicated dates are as follows: 12.31.20 12.31.19 Trust Funds 8,780,506 9,480,177 Securities Held in Escrow 804,332,490 633,438,634 These trusts are not included in the consolidation since the Group does not exert control on them. |
Transfer of Financial Assets
Transfer of Financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Transfer of Financial Assets | NOTE 49. TRANSFER OF FINANCIAL ASSETS All portfolio sales carried out by the Group are without recourse; therefore, they all qualify for the full derecognition of financial assets. When this derecognition takes place, the difference between the book value and the value in the offsetting entry is charged to Income. |
Non-controlling Interest
Non-controlling Interest | 12 Months Ended |
Dec. 31, 2020 | |
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Non-controlling Interest | NOTE 50. NON-CONTROLLING INTEREST The following tables provide information about each subsidiary that has a non-controlling interest. The non-controlling equity investment percentages and votes as of the indicated dates are as follows: Company Place of Business 12.31.20 12.31.19 Cobranzas Regionales S.A. Códoba - Argentina 0.00 % 17.00 % Galicia Broker Asesores de Seguros S.A. CABA - Argentina 0.01 % 0.01 % Galicia Retiro Compañía de Seguros S.A. CABA - Argentina 0.00 % 0.00 % Galicia Seguros S.A. CABA - Argentina 0.00 % 0.00 % Naranja Digital Compañía Financiera S.A.U. CABA - Argentina 0.00 % 17.00 % Ondara S.A. CABA - Argentina 0.00 % 16.15 % Tarjeta Naranja S.A. Códoba - Argentina 0.00 % 17.00 % Tarjetas Regionales S.A. CABA - Argentina 0.00 % 17.00 % Changes in the Group’s non-controlling interests as of the indicated dates were as follows: Company Balance as 12.31.19 Purchases / Cash Dividends Profit for the Balance as 12.31.20 Cobranzas Regionales S.A. (26,636 ) — — (49,983 ) (76,619 ) Galicia Broker Asesores de Seguros S.A. 4 — — (1 ) 3 Galicia Retiro Compañía de Seguros S.A. 4 — — (4 ) — Galicia Seguros S.A. 5 — — (5 ) — Naranja Digital Compañía Financiera S.A.U. (20,522 ) — — (50,273 ) (70,795 ) Ondara S.A. 11,382 — — (879 ) 10,503 Tarjeta Naranja S.A. 3,439,901 — — 514,371 3,954,272 Tarjetas Regionales S.A. 534,426 (4,135,824 ) (143,844 ) (72,119 ) (3,817,361 ) Total 3,938,564 (4,135,824 ) (143,844 ) 341,107 3 Company Balance as 12.31.18 Purchases / Cash Dividends Profit for the Balance as 12.31.19 Cobranzas Regionales S.A. 24,327 — — (50,963 ) (26,636 ) Galicia Broker Asesores de Seguros S.A. 4 — — — 4 Galicia Retiro Compañía de Seguros S.A. 4 — — — 4 Galicia Seguros S.A. 5 — — — 5 Naranja Digital Compañía Financiera S.A.U. — — — (20,522 ) (20,522 ) Ondara S.A. 12,660 — — (1,278 ) 11,382 Tarjeta Naranja S.A. 3,121,583 — — 318,318 3,439,901 Tarjetas Regionales S.A. 448,887 179,986 — (94,447 ) 534,426 Total 3,607,470 179,986 — 151,108 3,938,564 Company Balance as 12.31.17 Purchases / Cash Dividends Profit for the Balance as 12.31.18 Cobranzas Regionales S.A. 27,814 — — (3,487 ) 24,327 Galicia Broker Asesores de Seguros S.A. 4 — — — 4 Galicia Retiro Compañía de Seguros S.A. 4 — — — 4 Galicia Seguros S.A. 5 — — — 5 Naranja Digital Compañía Financiera S.A.U. — — — — — Ondara S.A. 14,815 — 109 (2,264 ) 12,660 Tarjeta Naranja S.A. 5,688,995 (1,613,587 ) (287,822 ) (666,003 ) 3,121,583 Tarjetas Regionales S.A. 453,788 — 85,004 (89,905 ) 448,887 Total 6,185,425 (1,613,587 ) (202,709 ) (761,659 ) 3,607,470 Summary information on subsidiaries is detailed in Note 15. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
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Related Party Transactions | NOTE 51. RELATED PARTY TRANSACTIONS Related parties are all those entities that directly, or indirectly through other entities, have control over another, are under the same controlling party or may have significant influence on another entity’s financial or operational decisions. The Group controls another entity when it has the power over other entities’ financial and operating decisions and also has a share of profits thereof. Additionally, the Group considers that it has joint control when there is an agreement between parties regarding the control of a common economic activity. Finally, those cases where the Group has significant influence is due to the capacity to take part in decisions about the company’s financial policy and operations. Those shareholders who hold an equity investment equal to or higher than 20% of the total votes of the Group or its subsidiaries are considered to have significant influence. To determine those situations, not only the legal aspects are observed, but also the nature and substance of the relationship. Furthermore, the key personnel of the Group’s Management (Board of Directors members and Managers of the Group and its subsidiaries), as well as the entities over which the key personnel may have significant influence or control are considered as related parties. 51.1. Controlling Entity The Group is controlled by: Name Nature Principal Line of Business Place of Business Equity Investment % EBA Holding S.A. 54.09% of voting rights Financial and Investment Operations Autonomous City of Buenos Aires – Argentina 19.07 % 51.2. Key Personnel’s Compensation The compensation earned by the Group’s key personnel as of December 31, 2020 and December 31, 2019 amounts to Ps.1,307,741 and Ps.976,364 respectively. 51.3. Key Personnel’s Structure Key personnel’s structure as of the indicated dates is as follows: 12.31.20 12.31.19 Regular Directors 79 74 General Manager 2 2 Area Managers 13 10 Department Managers 46 67 Total 140 153 51.4. Related Party Transactions The following table shows the total credit assistance granted by the Group to key personnel, syndics, majority shareholders, as well as all individuals who are related to them by a family relationship of up to the second degree of consanguinity or first degree by affinity (pursuant to the Argentine Central Bank’s definition of related individual) and any entity affiliated with any of these parties, not required to be consolidated. 12.31.20 12.31.19 Total Amount of Credit Assistance 1,991,604 1,499,910 Number of Addressees (quantities) 269 283 - Natural Persons 208 229 - Legal Entities 61 54 Average Amount of Credit Assistance 7,404 5,300 Maximum Assistance 508,945 596,026 Financial assistance, including the one that was restructured, was granted in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other non-related parties. Besides, this financial assistance did not involve more than the normal risk of loan losses or present other unfavorable features. The information about the credit assistance granted to affiliates based on the quality of receivables, their documentation and preferred guarantees is stated in Schedule N. 51.5. Amounts of Related Party Transactions The amounts of related party transactions conducted as of the indicated dates are as follows: 12.31.20 12.31.19 Assets Cash and Due from Banks 1,392,563 4,634,039 Debt Securities at Fair Value through Profit or Loss 738,302 60,112 Other Financial Assets 1,659 10,390 Loans and Other Financing 3,354,891 2,693,645 Other Debt Securities 170,656 178,791 Financial Assets Pledged as Collateral — 555 Assets for Insurance Contracts 547 — Other Non-financial Assets — 2,953 Total Assets 5,658,618 7,580,485 Liabilities Deposits 1,707,028 5,587,455 Derivative Financial Instruments — — Other Financial Liabilities 849,064 748,351 Financing Received from the Argentine Central Bank and other Financial Institutions 2,153,464 916,266 Debt Securities Issued 908,958 238,903 Liabilities for Insurance Contracts 23 5,457 Other Non-financial Liabilities 40,081 84,053 Total Liabilities 5,658,618 7,580,485 12.31.20 12.31.19 12.31.18 Income (Loss) Net Income (Loss) from Interest 226,467 490,269 58,588 Net Fee Income (Expense) (1,085,741 ) (1,201,852 ) (71,981 ) Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (904 ) — — Other Operating Income (Expense) (1,193,475 ) (1,576,194 ) (2,682,854 ) Income from Insurance Business 2,005,616 2,389,538 2,632,514 Administrative Expenses 121,002 174,543 64,887 Other Operating Expenses 14,459 9,282 — Total Income 87,424 285,586 1,154 |
Additional Information Required
Additional Information Required by the Argentine Central Bank | 12 Months Ended |
Dec. 31, 2020 | |
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Additional Information Required by the Argentine Central Bank | NOTE 52. ADDITIONAL INFORMATION REQUIRED BY THE ARGENTINE CENTRAL BANK 52.1. CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM Law No. 24485 and Decree No. 540/95 established the creation of the Deposit Insurance System to cover the risk attached to bank deposits, in addition to the system of privileges and safeguards envisaged in the Financial Institutions Law. The National Executive Branch through Decree No. 1127/98 established the maximum amount for this insurance system to demand deposits and time deposits denominated either in Pesos and/or in foreign currency. Such limit was set at Ps.1,500 as from May 1, 2020. This system does not cover deposits made by other financial institutions (including time deposit certificates acquired through a secondary transaction), deposits made by parties related to the Bank, either directly or indirectly, deposits of securities, acceptances or guarantees and those deposits set up at an interest rate exceeding the one established regularly by the Argentine Central Bank. Deposits acquired through endorsement, placements made as a result of incentives other than interest rates and locked-up balances from deposits and other excluded transactions are also excluded. This system has been implemented through the creation of the Deposit Insurance Fund (“FGD”), which is managed by a company called Seguros de Depósitos S.A. (“SEDESA”). SEDESA’s shareholders are the Argentine Central Bank and the financial institutions in the proportion determined for each one by the Argentine Central Bank based on the contributions made to the fund. The monthly contribution institutions should make to the FGD is 0.015% on the monthly average of total deposits. 52.2. RESTRICTED ASSETS As of December 31, 2020, and 2019, the ability to freely dispose of the following assets is restricted, as follows: Banco de Galicia y Buenos Aires S.A.U. a) Cash and Government Securities 12.31.20 12.31.19 For transactions in ROFEX, MAE and BYMA 3,905,372 1,782,587 For debit / credit cards transactions 3,020,109 3,083,168 For attachments 9,410 12,811 Liquid offsetting entry required to operate as CNV agent 64,020 14,641 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada 1,100 122,322 Guarantees for the Regional Economies Competitiveness Program 184,744 444,927 For other transactions (includes guarantees linked to rental contracts) 19,802 20,313 b) Special Guarantees Accounts Special guarantee accounts have been opened at the Argentine Central Bank as collateral for transactions involving electronic clearing houses, checks for settling debts and other similar transactions as of the indicated dates, which amount to: 12.31.20 12.31.19 Escrow Accounts 11,444,550 10,245,260 c) Deposits in favor of the Argentine Central Bank 12.31.20 12.31.19 Unavailable deposits due to exchange transactions 533 726 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferable non-endorsable registered ordinary shares in Electrigal S.A., the transfer of which is subject to approval by the national authorities, according to the terms of the previously executed concession contract. e) Contributions to Garantizar S.G.R.’s Risk Fund Banco de Galicia y Buenos Aires S.A.U., in its capacity as sponsoring partner of Garantizar S.G.R.’s Risk Fund, is committed to maintaining the contributions made to the fund for two (2) years. 12.31.20 12.31.19 Contributions to the Fund 990,000 1,347,792 INVIU S.A.U. 12.31.20 12.31.19 Liquid offsetting entry required to operate as CNV agents 18,469 22,753 Guarantees linked to surety bonds 7,417 — Tarjeta Naranja S.A. 12.31.20 12.31.19 Attachments arising from judicial cases 973 3,188 Guarantees linked to rental contracts 7,076 9,209 Galicia Administradora de Fondos S.A. 12.31.20 12.31.19 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV (*) 13,903 13,803 (*) As of December 31, 2020, it corresponds to 1,620,000 shares of Fima Premium Class “B” Mutual Fund. Galicia Securities S.A. 12.31.20 12.31.19 For transactions in the market 48,015 — Liquid offsetting entry required to operate as CNV agents 11,270 — Guarantees linked to surety bonds 1,129 — The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.20 12.31.19 Total Restricted Assets 19,747,892 17,123,500 52.3. TRUST ACTIVITIES a) Trust Contracts for Purposes of Guaranteeing Compliance with Obligations: Purpose: In order to guarantee compliance with contractual obligations, the parties to these agreements have agreed to deliver to Banco de Galicia y Buenos Aires S.A.U., as fiduciary property, amounts to be applied according to the following breakdown: Date of Contract Trustor Balances of Trust Maturity (1) 04.17.12 Exxon Mobil 13,540 04.19.21 09.12.14 Coop. de Trab. Portuarios 1,009 09.12.22 04.14.16 Rios Belt 121 12.31.21 05.24.17 MSU 33 12.31.21 Total 14,703 (1) These amounts shall be released monthly until settlement date of trustor obligations or maturity date, whichever occurs first. b) Financial Trust Contracts: Purpose: To administer and exercise the fiduciary ownership of the trust assets until the redemption of debt securities and participation certificates: Contract date Trust Balances of Trust Funds Maturity (*) 12.06.06 GAS I 133,278 12.31.21 05.14.09 GAS II 8,614,193 12.31.22 06.08.11 MILA III 17,118 12.31.21 01.09.11 MILA IV 295 12.31.21 06.12.17 MILA XVIII 919 01.31.24 Total 8,765,803 (*) Estimated date, since maturity date shall occur at the time of the distribution of all of trust assets. c) Activities as Security Agent: c.1) Banco de Galicia y Buenos Aires S.A.U. has been appointed Security Agent of the National Treasury’s endorsement guarantees in favor of ENARSA (Energía Argentina S.A.) that were assigned in favor of Nación Fideicomisos S.A. in its capacity as Trustee of the “ENARSA-BARRAGAN” and “ENARSA-BRIGADIER LOPEZ” financial trusts. Said endorsement guarantees the secure payment of all obligations arising from the above-mentioned trusts. Banco de Galicia y Buenos Aires S.A.U., as Security Agent, safeguarded the documentation of the National Treasury sureties and was responsible for managing all the legal and notarial aspects in relation to their execution. When the obligation was extinguished, sureties were returned to BICE Fideicomisos S.A. on October 22, 2019; at the closing of said year, the repayment of the expense fund was pending. Said expenses amounted to Ps. 555 as of December 31, 2019. All the transactions detailed above are recorded in off-balance sheet items—trust funds. d) Creation Up of Financial Trusts As December 31, 2019, the Group records in its own portfolio, participation certificates and Debt Securities from financial trusts amounting to Ps.474,161, valued at amortized cost. 52.4. COMPLIANCE WITH THE REGULATIONS 52.4.1. Agents – Minimum Liquidity requirement Banco de Galicia y Buenos Aires S.A.U. Within the framework of CNV Resolution No. 622/13, Banco de Galicia y Buenos Aires S.A.U. has been duly registered with such agency in the following categories: Escrow Agent for Collective Investment Products in the Financial Trustors’ Registry No. 54, and Settlement and Integral Compensation Agent No. 22 (AlyC and AN—INTEGRAL). As of December 31, 2020, for the Escrow Agent for Collective Investment Products in the Financial Trustors’ Registry, the required Shareholders’ Equity amounts to Ps.61,104, and the minimum required offsetting entry is Ps.30,552. For AlyC and AN—INTEGRAL, said requirement amounts to Ps. 30,253, with the minimum offsetting entry required of Ps. 15,126, which the Bank integrated with Treasury Bills in Argentine pesos for Ps. 64,020, registered in escrow accounts of Caja de Valores (Principal 100100). Galicia Administradora de Fondos S.A. In accordance with the requirements set forth in CNV Resolution No. 792, the minimum Shareholders’ Equity required to operate as Escrow Agent for Collective Investment Products, Mutual Funds amounts to Ps.27,658 and the minimum offsetting entry amounts to Ps.13,829. Galicia Administradora de Fondos S.A. integrated said requirement with 1,620,000 shares of Fondo Fima Premium Class “C”, equivalent to Ps.13,903. Galicia Securities S.A. In accordance with the requirements set forth in General Resolution No. 622, the ALyC and AN Integral must have a minimum Shareholders’ Equity equivalent to 470,350 Units of Purchasing Value (UVA), with said requirement amounting to Ps.30,253 as of December 31, 2020, and the minimum offsetting entry required is Ps.15,126. For Placement and Distribution Agents of Mutual Funds, said requirement amounts to Ps.2,500, and the minimum required liquid offsetting entry is Ps.1,250. As of December 31, 2020 , Galicia Securities S.A. integrated said requirements in government securities for an amount of Ps.12,270 and a bank guarantee for Ps. 6,171. INVIU S.A.U. In accordance with the requirements set forth in General Resolution No. 622, the ALyC and AN Integral must have a minimum Shareholders’ Equity equivalent to 470,350 Units of Purchasing Value (UVA), with said requirement amounting to Ps.30,253 as of December 31, 2020, and the minimum offsetting entry required is Ps.15,126. As of December 31, 2020, INVIU S.A.U. integrated said requirements in a demand account for an amount of thousand USD220. 52.4.2. Custodial Agent of Collective Investment Products Corresponding to Mutual Funds Furthermore, in compliance with Section 7 of Chapter II, Title V of that Resolution, in its capacity as custodial agent of collective investment products corresponding to mutual funds (depository) of the “FIMA ACCIONES”, “FIMA P.B. ACCIONES”, “FIMA RENTA EN PESOS”, “FIMA AHORRO PESOS”, “FIMA RENTA PLUS”, “FIMA PREMIUM”, “FIMA AHORRO PLUS”, “FIMA CAPITAL PLUS”, “FIMA ABIERTO PYMES”, “FIMA MIX I”, “FIMA RENTA DÓLARES I” and “FIMA RENTA DOLARES II” funds, as of December 31, 2020, Banco de Galicia y Buenos Aires S.A.U. holds a total of 22,081,526,592 units under custody for a market value of Ps.192,415,131, which is included in the “Depositors of Securities Held in Custody” account. As the closing of previous fiscal year, the securities held in custody totaled 11,045,967,403 units and their market value amounted to Ps.109,892,525. The balances of the Mutual Funds as of the indicated dates are detailed as follows: Mutual Fund 12.31.20 12.31.19 FIMA Acciones 590,257 548,757 FIMA P.B. Acciones 633,036 941,220 FIMA Renta en pesos 1,098,300 319,338 FIMA Ahorro pesos 7,252,021 3,626,852 FIMA Renta Plus 739,739 200,953 FIMA Premium 148,692,964 93,646,912 FIMA Ahorro Plus 12,706,534 3,718,984 FIMA Capital Plus 16,650,938 154,164 FIMA Abierto PyMES 758,538 795,135 FIMA Mix I 2,047,362 77,755 FIMA Renta Dólares I (*) — 2,259,686 FIMA Renta Dólares II (*) — 739,938 FIMA Renta Fija Internacional 1,172,774 2,735,979 FIMA Acciones Latinoamericanas Dólares (*) 72,668 126,852 Total 192,415,131 109,892,525 (*) Stated at the reference exchange rate of the U.S. Dollar set by the Argentine Central Bank. See Note 1.6.(b). All the transactions detailed above are recorded in off-balance sheet items—securities held in custody. The mutual funds detailed above have not been consolidated as the Group is not a controlling company thereof, since the depository role does not imply in this case: • power over the trust to run material activities; • exposure or right to variable returns; • capacity to have influence on the amount of returns to be received for the involvement. 52.4.3. Storage of Documents Pursuant to General Resolution No. 629 of the CNV, Banco de Galicia y Buenos Aires S.A.U. notes that it has supporting documents regarding accounting and management transactions, which are stored at AdeA (C.U.I.T. No. 30-68233570-6), Plant III located at Ruta Provincial 36 km 31.5 No. 6471 (CP 1888) Bosques, Province of Buenos Aires, with legal domicile at Av. Juramento 1775, 4 th 52.5. COMPLIANCE WITH MINIMUM CASH REQUIREMENTS: As of December 31, 2020, the balances recorded as computable items are as follows: Currency Item Ps. USD Euros (*) Checking Accounts held in Argentine Central Bank 1,000 1,217,252 31 Escrow Accounts held in Argentine Central Bank 11,148,780 3,515 — National Treasury Bonds in Argentine Pesos computable for minimum cash 18,343,599 — — Liquidity Bills computable for minimum cash 46,617,121 — — Total for integration Minimum Cash 76,110,500 1,220,767 31 (*) Stated in thousands of USD. 52.6. PENALTIES IMPOSED ON BANCO DE GALICIA Y BUENOS AIRES S.A.U. AND SUMMARY PROCEEDINGS COMMENCED BY THE ARGENTINE CENTRAL BANK Penalties Imposed on Banco de Galicia y Buenos Aires S.A.U. Existing as of December 31, 2020: U.I.F.’s Summary Proceedings No. 68/09. Summary Proceedings No. 1544. UIF Proceedings -Docket 867/13 The Group considers that the resolution of these proceedings will not have significant impact on its equity. 52.7. ISSUANCE OF DEBT SECURITIES The issuance of debt securities is detailed in Notes 27 and 28. 52.8. RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF PROFITS Pursuant to Section 70 of the General Corporations Law, Grupo Financiero Galicia S.A. should transfer 5% of the net income for the year to the Legal Reserve until 20% of the capital stock is reached, plus the balance of the Capital Adjustment account. With respect to Banco Galicia, the Argentine Central Bank regulations require that 20% of the profits shown in the Income Statement at fiscal year-end, plus (or less), the adjustments made in previous fiscal years and, less, if any, the loss accumulated at previous fiscal year-end, be allocated to the legal reserve. This proportion applies regardless of the ratio of the Legal Reserve fund to Capital Stock. Should the Legal Reserve be used to absorb losses, earnings shall be distributed only if the value of the Legal Reserve reaches 20% of the Capital Stock plus the Capital Adjustment. The Argentine Central Bank sets rules for the conditions under which financial institutions can make distributions of profits. According to these rules, profits can be distributed as long as results of operations are positive after deducting not only the Reserves, which may be legally and statutory required, but also the following items from Retained Income: The difference between the carrying amount and the market value of public sector assets and/or debt instruments issued by the Argentine Central Bank not valued at market price, the amounts capitalized for lawsuits related to deposits and any unrecorded adjustments required by the external auditors or the Argentine Central Bank. Moreover, in order that a financial institution be able to distribute profits, such institution must comply with the capital adequacy rule, i.e. with the calculation of minimum capital requirements and the regulatory capital. For these purposes, this shall be done by deducting from its assets and Retained Income all the items mentioned in the paragraph above. Moreover, in such calculation, a financial institution shall not be able to compute the temporary reductions that affect minimum capital requirements, computable regulatory capital or its capital adequacy. Since January 2016, the Argentine Central Bank determined that banks shall meet an additional capital conservation buffer apart from the minimum capital requirement equal to 3.5% of risk-weighted assets. This shall be made up only of Tier 1 Common Capital, net of deductible items. Distribution of profits shall be restricted when the Bank’s computable regulatory capital level and structure is within the range of the capital conservation buffer. The Argentine Central Bank provided that income distribution must have its authorization. In said authorization process, the SEFYC will consider, among other elements, the total impact of credit losses determined according to IFRS 9. Likewise, the Argentine Central Bank issued Communication “A” 7181 where suspension of income distribution is set forth until June 30, 2021. Tarjeta Naranja S.A.’s Ordinary and Extraordinary Shareholders’ Meeting held on March 16, 2006 decided to set the maximum limit for the distribution of dividends at 25% of the realized and liquid profits of each fiscal year. This restriction shall remain in force as long as the company’s Shareholders’ Equity is below Ps.300,000. Pursuant to the Price Supplement of the Class XXXVII Notes, Tarjeta Naranja S.A. has agreed not to distribute dividends that may exceed 50% of the company’s net income. This restriction also applies in the event of any excess over certain indebtedness ratios. Notwithstanding the aforementioned, profits resulting from the first-time application of IFRS may not be distributed; instead, such profits, if any, will be appropriated to a special reserve recorded under equity which might only be released for capitalization purposes, or otherwise to offset potential losses. The Group may pay dividends to the extent that it has distributable retained earnings and distributable reserves calculated in accordance with the rules of the Argentine Central Bank. Therefore, retained earnings included in the consolidated financial statements may not be wholly distributable. The Argentine Central Bank, through Communications “A” 5541 and its amendments, established a convergence plan towards the adoption of IFRS as issued by the IASB, and the interpretations issued by the IFRIC, for the entities under its supervision, effective for fiscal years commencing January 1, 2018, with certain exceptions currently including the non-application of item 5.5 (Impairment) of IFRS 9 to the financial instruments issued by the Non-Financial Public Sector. Additionally, the Superintendence of Financial Institutions has established that the measurement of the investment in Prisma Medios de Pago SA, which is recognized at fair value through profit and loss under IFRS cannot exceed the proportional amount received in cash at the time of its sale. The Group has presented its local financial statements under these rules on March 9, 2021. Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.20 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 61,548,313 Legal reserve 714,107 Distributable reserves 116,312,804 Non distributable reserves 5,047,825 Retained results (44,533,351 ) Profit for the year 26,439,048 Total Shareholder’s equity under the rules of the Argentine Central Bank 184,284,625 As exposed in the Statements of Changes in Equity, Grupo Financiero Galicia S.A. has followed the option established in Art. 3, Paragraph b), Chapter III of Title Periodic Information Regime of CNV Standards, which stipulates, subject to approval by the shareholders annual general meeting, the absorption of negative retained earnings that may arise on the date of transition as a consequence of the inflation adjustment. Negative retained earnings for the fiscal year ended December 31, 2020 amounted to thousand Ps. 18,094,303, so the Board of Directors will propose that they be absorbed, affecting for this purpose the Special Reserve arising from the first-time application of the IFRS and the remainder with the Optional Reserve for development of new businesses and support of investee companies. Additionally, the Board of Directors will propose the distribution of cash dividends by an amount that, once adjusted according to inflation, in accordance with Art. 3, Paragraph e), Chapter III of Title Periodic Information Regime of CNV Standards, results in Ps. 1,500,000, through partial use of the Optional Reserve for Future Income Distribution. 52.9. CAPITAL MANAGEMENT AND CORPORATE GOVERNANCE TRANSPARENCY POLICY Grupo Financiero Galicia S.A. Board of Directors Grupo Financiero Galicia S.A.’s Board of Directors is the Company’s highest management body. It is made up of nine directors and three alternate directors, who must have the necessary knowledge and skills to clearly understand their responsibilities and duties within the corporate governance, and to act with the loyalty and diligence of a good businessman. As set out in its bylaws, the term of office for both directors and alternate directors is three (3) years; they are partially changed every year and may be reelected indefinitely. The Company complies with the appropriate standards regarding total number of directors, as well as the number of independent directors. Furthermore, its bylaws provide for the flexibility necessary to adapt the number of directors to the possible changes in the conditions in which the Company carries out its activities, from three (3) to nine (9) directors. The Board of Directors complies, in every relevant respect, with the recommendations included in the Code on Corporate Governance as Schedule IV to Title IV of the regulations issued by the National Securities Commission (Text amended in 2013). It also monitors the application of the corporate governance policies provided for by the regulations in force through the Executive Committee, the Audit Committee and the Committee for Information Integrity. Periodically, the Committees provide the Board of Directors with information, and the Board gets to know the decisions of each Committee. What is appropriate is transcribed in the minutes drafted at the Board of Directors’ meetings. Executive Committee In July 2018, Grupo Financiero Galicia S.A.‘s Board of Directors approved the creation of the Executive Committee, along with its governing rules and regulations. It is made up of five directors, and the purpose of its creation is to contribute to the conduction of the Company’s ordinary business and the efficient performance of the Board of Directors’ duties. Audit Committee The Audit Committee set by Capital Markets Law No. 26831 and the CNV’s regulations is formed by three directors, two of whom are independent, and meets the requirements set out in U.S. Sarbanes-Oxley Act. Such Committee’s mission is to provide the Board of Directors with assistance in overseeing the financial statements, as well as in the task of controlling Grupo Financiero Galicia and its subsidiaries. Committee for Information Integrity The Committee for Information Integrity was created in compliance with the recommendations of U.S. Sarbanes Oxley Act, and is made up of the General Manager, the Administrative and Finance Manager and two supervisors of the Administrative and Finance Division. Its most important duties are monitoring the Company’s internal controls, reviewing the financial statements and other information published, preparing Board of Directors’ reports with the activities carried out by the Committee. Its operation has been adapted to local laws and it currently performs important administrative and reporting duties, which are used by the Board of Directors and the Audit Committee, contributing to the transparency of the information provided to markets. Basic Holding Structure Grupo Financiero Galicia S.A. is a company whose sole purpose is to conduct financial and investment activities as per Section 31 of the General Corporations Law. That is to say, it is a holding company whose activity involves managing its equity investments, assets and resources. Within the group of companies in which the Company has an interest, Banco de Galicia y Buenos Aires S.A.U. stands out, which is its main asset and a wholly owned subsidiary. Banco de Galicia y Buenos Aires S.A.U., as a bank institution, is subject to certain regulatory restrictions imposed by the Argentine Central Bank. Among such restrictions, there is one that limits the equity interest to a maximum of 12.5% of the capital stock in companies that do not perform activities qualified as supplementary. Therefore, Grupo Financiero Galicia S.A. directly and indirectly holds those equity interests in companies that carry out activities defined as non-supplementary. Grupo Financiero Galicia S.A. has a reduced structure due to its nature as holding company of a group of financial services. Accordingly, certain typical organizational aspects of large operating companies are not applicable thereto. To conclude, one should note that Grupo Financiero Galicia S.A. is under the control of a pure holding company, EBA Holding S.A., which has the number of votes necessary to hold the majority of votes at the Shareholders’ Meetings, although it does not have any managerial functions over the former. Compensation Systems Directors’ compensation is defined by the General Shareholders’ Meeting and is fixed within the limits established by law and the corporate bylaws. The Audit Committee expresses its opinion on whether compensation proposals for Directors are reasonable, taking into consideration market standards. Business Conduct Policy The Company has consistently shown respect for the rights of its shareholders, reliability and accuracy in the information provided, transparency as to its policies and decisions, and caution with regard to the disclosure of strategic business issues. Code of Ethics Grupo Financiero Galicia S.A. has a Code of Ethics formally approved that guides its policies and activities. It considers business objectivity and conflict-of-interests related-aspects, and how the employee should act upon identifying a breach of the Code of Ethics. Banco de Galicia y Buenos Aires S.A.U. Banco Galicia’s Board of Directors is the Company’s highest management body. As of the date of preparation of these consolidated financial statements, it is made up of seven directors and four alternate directors, who have the necessary knowledge and skills to clearly understand their responsibilities and duties within the corporate governance, and act with the loyalty and diligence of a good businessman. Banco Galicia complies with the appropriate standards regarding total number of directors, as well as number of independent directors. Furthermore, its bylaws provide for the flexibility necessary to adapt from three (3) to nine (9) directors to the possible changes in the conditions in which the Bank carries out its activities. The General Shareholders’ Meeting has the power to establish the number of directors, both independent and non-independent ones, and appoint them. Out of the seven directors, one of them is independent. In addition, two of the alternate directors are independent. The independence concept is defined in the regulations set forth by the CNV and the Argentine Central Bank regulations. As regards prevention of conflicts of interest, the provisions set forth in the General Corporations Law and the Capital Markets Law are applicable. As set out in the bylaws, the term of office for both directors and alternate directors is three years; two thirds of them (or a fraction of at least three) are changed every year and may be reelected indefinitely. The Board of Directors’ meeting is held at least once a week and when required by any director. The Board of Directors is responsible for the Bank’s general management and makes all the necessary decisions to such end. The Board of Directors’ members also take part, to a greater or lesser extent, in the commissions and committees created. Therefore, they are continuously informed about the Bank’s course of business and become aware of the decisions made by such bodies, which are transcribed into minutes. Additionally, the Board of Directors receives a monthly report prepared by the General Manager, the purpose of which is to report the material issues and events addressed at the different meetings held between the General Manager and Senior Management. The Board of Directors becomes aware of such reports, as evidenced in the minutes. In connection with directors’ training and development, the Bank has a program, which is reviewed every nine months, whereby they regularly attend courses and seminars of different kinds and subjects. According to the activities carried out by the Bank, effective laws and corporate strategies, the following committees have been created to achieve an effective control over all activities performed by the Bank: • Risk and Capital Allocation Committee It is in charge of approving and analyzing capital allocation, establishing risk policies and monitoring the Bank’s risk. • High Credit Committee This committee’s function is to approve and sign credit ratings and grant transactions related to high-risk groups and customers, i.e., greater than 2.5% of the Bank’s individual Computable Regulatory Capital, loans to financial institutions (local or foreign) and related customers, in which case two thirds of the Board of Directors is required to participate. • Low Credit Committee This committee’s function is to approve and sign the credit ratings and grant transactions related to medium-risk groups and customers, equal to amounts greater than 1% of the Bank’s individual Computable Regulatory Capital. • Asset and Liability Management Committee It is in charge of analyzing the fundraising and its placement in different assets, the follow-up and control of liquidity, interest-rate and currency mismatches, and management thereof. • Information Technology Committee This Committee is in charge of supervising and approving the development plans of new systems and their budgets, as well as supervising these systems’ budget control. It is also responsible for approving the general design of the systems’ structure, the main processes thereof and the systems implemented, as well as monitoring the quality of the Bank’s systems, within the policies established by the Board of Directors. • Audit Committee The Audit Committee is responsible for helping the Board of Directors, in performing the control function of the Bank and its controlled companies and the companies in which it owns a stake, in order to fairly ensure the following objectives: • Effectiveness and efficiency of operations; • Reliability of the accounting information; • Compliance with applicable laws and regulations; and • Compliance with the goals and strategy set by the Board of Directors. • Committee for the Control and Prevention of Money Laundering and Funding of Terrorist Activities (CPLA/FT, as per its initials in Spanish) It is in charge of planning, coordinating and ensuring compliance with the policies on anti-money laundering and funding of terrorist activities set and approved by the Board of Directors. • Committee for Information Integrity It is in charge of encouraging compliance with the provisions of Sarbanes-Oxley (2002). • Human Resources and Governance Committee It is in charge of presenting the succession of the General Manager and Division Managers, analyzing and establishing the General Manager’s and Division Managers’ compensation, and monitoring the performance matrix of Department and Division Managers. • Performance Reporting Committee It is in charge of monitoring the performance and results of operations and evaluating the macro situation. • Liquidity Crisis Committee It is in charge of evaluating the situation upon facing a liquidity crisis and deciding the steps to be implemented to tackle it. • Strategy and New Businesses Committee It is in charge of analyzing new businesses. • Compliance Committee It is in charge of instilling respect for Banco Galicia’s rules, code of conduct and ethics, and mitigating the risk of default, by defining policies and establishing controls and reports in the best interests of the Bank and its employees, shareholders and customers. • Committee for the Protection of Users of Financial Services It is responsible for following up on the activities developed by Banco Galicia’s management involved in user protection internal processes to ensure adequate compliance with legal and regulatory standards. The Bank considers the General Manager and Division Management reporting to the General Manager as Senior Management. These are detailed as follows: • Retail Banking Division • Wholesale Banking Division • Finance Division • Products and Tecnology • Organizational Development and Human Resources Division • Risk Management Division • Strategic Planning and Management Control Division Senior Management’s main duties are as follows: • Ensure that the Bank’s activities are consistent with the business strategy, the policies approved by the Board of Directors and the risks to be assumed. • Implement the necessary policies, procedures, processes and controls to manage operations and risks cautiously, meet the strategic goals set by the Board of Directors and ensure that the latter receives material, full and timely information so that it may assess managemen |
Impact Of Covid-19 On The Group
Impact Of Covid-19 On The Group Operations | 12 Months Ended |
Dec. 31, 2020 | |
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Impact Of Covid-19 On The Group Operations | NOTE 53. IMPACT OF COVID-19 ON THE GROUP OPERATIONS During this period, Grupo Financiero Galicia has performed its operations under the challenging circumstances arising from the pandemic declared by the World Health Organization in March 2020, resulting from the Covid-19 virus. The pandemic continues to generate consequences in businesses and economic activities at global and local level. In Argentina, the measures taken by the National Government to contain the spread of the virus included, among others, the closure of borders and the mandatory isolation or distancing of the population along with the cessation of non-essential commercial activities for an extended period of time, with variants according to the local region and activity. On the date of issuance of these Financial Statements, commercial activities are gradually becoming normal and in compliance with the protocols established by the Government. The final scope of the coronavirus outbreak and its impact on global and local economies is unknown, and the governments may take stricter measures, which are unpredictable at this time. As of the date of issuance of these Financial Statements, Grupo Financiero Galicia has not experienced significant impacts on its income resulting from the pandemic. However, in this context, the Argentine Central Bank ordered a series of measures, of which the following stand out: (i) customer service by prior appointment, (ii) suspension of commissions collection for the use of ATMs, (iii) suspension of income distribution until December 31, 2020, (iv) the extension of expiration dates for credit cards; (v) the financing of unpaid credit card balances at maximum rates, (vi) the postponement of maturities of unpaid credit balances, (vii) the granting of zero-rate financing to the self-employed and taxpayers under the simplified tax scheme; (viii) the granting of financing to SMEs at a rate of 24%, (ix) a Financing Line for productive investment of SMEs, (x) the granting of financing to companies for payment of salaries, (xi) the setting of minimum rates for fixed-term deposits, (xii) flexibilization in parameters for the classification of bank debtors, and (xiii) controls to the exchange market. By virtue of the aforementioned, the extent to which the coronavirus will affect the Group’s business in the future and the income of its operations cannot be reasonably quantified, should this situation continue for a long time. The Board of Directors is closely monitoring this situation and taking all the required measures within their reach to preserve human life and our operations. |
Economic Context Where the Grou
Economic Context Where the Group's Operations | 12 Months Ended |
Dec. 31, 2020 | |
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Economic Context Where the Group's Operations | NOTE 54. ECONOMIC CONTEXT WHERE THE GROUP’S OPERATIONS The Company operates in a complex economic context, whose main variables have experienced strong volatility, both in the national and international spheres. In March 2020, the outbreak of the pandemic caused by covid-19 generated significant consequences at global level, since most of the world’s countries reacted by implementing a series of unprecedented restrictions on moving from one place to another. The different measures of sanitary restrictions imposed generated, to a greater or lesser extent, an almost immediate impact on the economies, whose production and activity indicators dropped fast. In response, most governments have implemented aid packages to sustain the income of part of the population and reduce the risks of disruption in payment chains and company bankruptcies, aiming to lessen the impact of the crisis. Argentina has not been the exception, and the Government implemented actions as soon as the pandemic was declared. The Argentine economy was already in recession when the pandemic broke out, and the latter made this scenario more complex, giving rise to historical collapses in economic activity during the months with more restrictions on circulation. Despite the fact that there was an economic recovery in comparison with the first months in which the Social and Mandatory Preventive Isolation was implemented, the pre-pandemic activity levels have yet to be reached. The country ended the year 2020 with a fall in its annual Gross Domestic Product of around 10.1%. The increase in public spending associated with the implementation of programs of various kinds to absorb the impact of the pandemic and the quarantine on the economic activity, together with the sharp drop in income that resulted from the recession, have led to a primary deficit of around 6.5% during 2020. The “red” of the public accounts was financed mainly through the assistance of the Central Bank to the Treasury (via transfers of via Temporary Advances and transfers of Profits corresponding to fiscal year 2019) due to the lack of access to the international capital market resulting from the process of foreign debt restructuring that the country went through during the first half of the year. Negotiations with external creditors were completed in the third quarter of 2020. The inflationary effect of the aforementioned issuance of Argentine pesos has not yet been fully observed due to a series of factors: the restrictions on circulation that prevailed most of the year, the freezing of utility rates and other regulated prices, and the existence of programs such as “Precios Máximos” (Maximum Prices) and “Precios Cuidados” (Controlled Prices). However, in the last months of 2020 the price increase began to accelerate, in line with the gradual reopening of some sectors of the economy and the authorization by the government to increase some prices. In 2020, the variation of the Consumer Price Index closed with an annual variation of 36.1%. However, the exchange rate regime did account for the strong issuance of Argentine pesos verified during 2020. The official exchange rate, defined daily by the Argentine Central Bank through Communication “A” 3500, devalued 28.8%, going from Ps. 1/USD 59.90 to Ps. 1/USD 84.15 between the last business day of 2019 and the last business day of 2020. In parallel, the International Reserves of the monetary entity fell to USD 39,410,000 at the end of 2020, from the USD 44,781,000 with which it had closed 2019. The reduction of the Reserves was mainly due to the cancellation of financial loans and lines of credit, particularly from the private sector. Added to this was the formation of external assets from the non-financial private sector, mainly explained by the acquisition of foreign currency by natural persons for savings. In order to contain the decline in International Reserves, the monetary authority imposed increasing exchange restrictions throughout 2020. Additionally, these also had an upward impact on financial exchange rates used for restricted exchange transactions in the official market. Among these measures is the need to request prior authorization from the Argentine Central Bank to carry out certain transactions. Likewise, the exchange rate regime already determined as mandatory the entry and settlement in national currency of the funds obtained resulting from exports of goods and services, collections of pre-financing, advances and post-financing of exports of goods, and sale of non-produced non-financial assets, and external assets. The exchange restrictions, or those that may be established in the future, could affect the Company’s ability to access the Single Free Exchange Market (Mercado Único y Libre de Cambios, MULC) to acquire the necessary foreign exchange to meet its financial obligations. The assets and liabilities in foreign currency as of December 31, 2020 have been valuated considering MULC quotes in force. The volatility and uncertainty context continues on the date of issuance of these Consolidated Financial Statements. The Company’s Management permanently monitors the evolution of the variables that affect their business to define their course of action and identify the potential impacts on their equity and financial position. The Company’s Consolidated Financial Statements must be read in the light of these circumstances. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
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Subsequent Events | NOTE 55. SUBSEQUENT EVENTS Cash Dividends On February 24, 2021, the Extraordinary Shareholders’ Meeting of Sudamericana Holding S.A. was held, which decided to partially use the “Optional Reserve” for the subsequent distribution of cash dividends or in kind in the amount of Ps. 1,100,000. On March 29, 2021, the Ordinary Shareholders’ Meeting of Galicia Warrants S.A. was held, which decided to partially use the “Optional Reserve” for the subsequent distribution of cash dividends or in kind in the amount of Ps. 40,000. On March 29, 2021, the Ordinary Shareholders’ Meeting of Galicia Administradora de Fondos S.A. was held, which decided the distribution of cash dividends or in kind in the amount of Ps. 800,000. On March 30, 2021, the Ordinary Shareholders’ Meeting of Galicia Securities S.A. was held, which decided the distribution of cash dividends or in kind in the amount of Ps. 150,000. Corporate Reorganization On February 25, 2021, the National Securities Commission, through Resolution RESFC-2021-20999-APN-DIR, issued the administrative approval of the Spin-off-Merger requested by the Group, in its capacity of merging company of the spin-off equity of Fedler S.A. and Dusner S.A., in their capacity as spin-off companies. The same resolution also authorized for the Group the public offering of 47,927,494 Class B ordinary book-entry shares with a nominal value of one Argentine peso (NV Ps. 1) each and entitled to one vote per share, to be delivered in exchange to the shareholders of the spin-off companies. On March 16, 2021 the merger by acquisition and capital increase of Grupo Financiero Galicia S.A. was registered with the Public Registry of Commerce. |
Accounting Policies and Basis_2
Accounting Policies and Basis for Preparation (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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BASIS FOR PREPARATION | 1.1. BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and the interpretations issued by the International Financial Reporting Interpretation Committee (IFRIC). All the IFRSs in force as of the date of preparation of these consolidated financial statements have been applied. In Argentina, the Group is subject to the provisions of Article 2, Section I, Chapter I of Title IV: Periodic Information Regime of the National Securities Commission (CNV) regulations and it is required to present its financial statements in accordance with the valuation and disclosure criteria set forth by the Argentine Central Bank. The Argentine Central Bank, through Communications “A” 5541 and its amendments, established a convergence plan towards the adoption of IFRS as issued by the IASB, and the interpretations issued by the IFRIC, for the entities under its supervision, effective for fiscal years commencing January 1, 2018 with certain exceptions. The Group has presented its local financial statements under these rules on March 9, 2021. Shareholders’ equity under the rules of the Argentine Central Bank is presented in Note 52.8. It has been concluded that these consolidated financial statements fairly present the Group’s financial position, financial performance and cash flows, in accordance with IFRS. The preparation of the consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Groups´ accounting policies. The areas involving a greater degree of judgment or complexity, or areas where assumptions and estimates are significant for the consolidated financial statements are disclosed in Note 2. |
Going Concern | (a) Going Concern As of the date of these consolidated financial statements, there are no uncertainties related to events or conditions that may cast significant doubt upon the Group´s ability to continue as a going concern. |
Measurement Unit | (b) Measurement Unit IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of an entity whose functional currency is that of a hyperinflationary economy be restated in terms of the current measurement unit as of the reporting period-end, irrespective of whether they are based on the historical cost or the current cost method. Accordingly, in general terms, non-monetary items should be adjusted for inflation occurring since the acquisition date or since the revaluation date, as the case may be. These requirements are also applicable to the comparative information reported in the financial statements. According to IAS 29, monetary assets and liabilities are not required to be restated, for they are stated in the measurement unit as of the end of the reporting period. Assets and liabilities subject to adjustments based on specific agreements will be adjusted on the basis of such agreements. Non-monetary items measured at their fair values at the end of the reporting period, such as net realizable value or otherwise, will not be restated. The other non-monetary assets and liabilities will be restated by applying a general price index. The income (loss) from the net monetary position will be charged to net income for the reporting period in a separate item. In order to conclude whether a given economy qualifies as hyperinflationary pursuant to the terms of IAS 29, the standard sets forth certain factors that should be considered, including a three-year cumulative inflation rate reaching or exceeding 100%. In this regard, the Argentine Federation of Professional Councils in Economic Sciences (FACPCE) through Resolution J.G.539/18 and the Professional Council in Economic Sciences of the Autonomous City of Buenos Aires (CPCECABA) through Resolution C.D. 107/2018 have pointed out that, effective for fiscal years ending on July 1, 2018 and thereafter, entities reporting under IFRS will be required to apply IAS 29 since the conditions for such application have been satisfied. In addition, Law No. 27468 enacted in November 2018 abrogated the prohibition to present the financial statements adjusted for inflation, as established by Decree 664/2003, entrusting each regulatory agency with its application. In this regard, on December 26, 2018, the CNV issued General Resolution No. 777/2018 authorizing the issuing entities to present accounting information in constant currency for annual financial statements for interim and special periods ending on December 31, 2018 and thereafter, except for financial institutions and insurance companies. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy |
New Accounting Standards\Changes in Accounting Policies | (c) New Accounting Standards Definition of “Business” - Amendment to IFRS 3: This amendment is effective as of January 1, 2020. The Group does not consider that this amendment has an impact, unless there is a business combination. Definition of “Material” - Amendments to IAS 1 and IAS 8: In particular, the amendments clarify: • The reference to obscuring information addresses situations where the effect is similar to omitting or misstating such information, and that an entity assesses materiality in the context of the financial statements as a whole; and • the meaning of “primary users of general-purpose Financial Statements” to whom those Financial Statements are addressed, by defining them as “existing and potential investors, lenders and other creditors”, that must rely on general purpose Financial Statements for much of the financial information they need. This amendment is effective as of January 1, 2020 and the Group does not consider that this amendment has a significant impact on its financial statements. Amendments to the Conceptual Framework for Financial Reporting: The Group does not consider that these amendments have a significant impact on its financial statements. Reform to the interest rate benchmark - Amendments to IFRS 9, IAS 39 and IFRS 7: (d) New accounting standards and amendments issued by IASB that have not been adopted by the Group The new standards, amendments and interpretations published are detailed below; however, they have not yet come into force for financial reporting periods commenced January 1, 2020 and have not been early adopted. Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28. IFRS 17 “Insurance Contracts”: There are no other IFRS or IFRIC interpretations that are not effective and that are expected to have a significant impact on the Group. |
CONSOLIDATION | 1.2. CONSOLIDATION Subsidiaries are those entities, including structured entities, where the Group is in control because (i) it has the power to direct relevant activities of the investee, which significantly affect its returns; (ii) it has exposure, or rights, to variable returns for its interest in the investee; and (iii) it has the ability to use its power over the investee to affect the amount of the investor’s returns. The existence and effect of the substantive rights, including potential voting rights, are considered when evaluating whether the Group has control over another entity. For a right to be substantive, the holder must have the practical ability to exercise it whenever necessary to make decisions on the direction of the relevant activities of the entity. The Group may be in control of an entity even when possessing less than the majority of the voting rights. Likewise, the protective rights of other investors, such as those related to substantive changes in the activities of the investee or applied only in exceptional circumstances, do not prevent the Group from having control over an investee. The subsidiaries are consolidated from the date the control is transferred to the Group, and they cease to be consolidated as of the date on which the control ceases. The subsidiaries which have been consolidated in these Consolidated Financial Statements are detailed in Note 15. For the purpose of consolidating its financial statements, the Group used the subsidiaries’ financial statements for the year ended December 31, 2020. The accounting policies applied by Sudamericana Holding SA. are established by the National Insurance Superintendency and have been adjusted to those applied by the Group in preparing its consolidated financial statements. Intercompany transactions, balances and unrealized gains on transactions between Group’s companies were eliminated. (See Note 51). Non-controlling interest in the results and equity of consolidated subsidiaries are shown separately in the consolidated statement of income, consolidated statement of other comprehensive income, consolidated statement of changes in shareholder’s equity and consolidated statement of financial position, respectively. In accordance with the provisions of IFRS 3 “Business combinations”, the acquisition method is used to account for the acquisition of subsidiaries. The identifiable assets and liabilities acquired, and contingent liabilities assumed in a business combination are measured at their fair values on the acquisition date. Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and, in a business combination achieved in stages, the fair value of the acquirer’s previously held equity interest in the acquiree; over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. The consideration transferred in a business combination is measured at the fair value of the assets transferred by the acquirer, the liabilities assumed by the acquirer with the previous owners of the investee, and the equity instruments issued by the acquirer. The transaction costs are recognized as expenses in the periods in which the costs have been incurred and the services have been received, except for the transaction costs incurred to issue equity instruments that are deducted from equity, and the transaction costs incurred to issue debt that are deducted from their carrying amount. |
TRANSACTIONS WITH THE NON-CONTROLLING INTEREST | 1.3. TRANSACTIONS WITH NON-CONTROLLING INTEREST The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized within equity attributable to owners of the Group. |
ASSOCIATES | 1.4. ASSOCIATES Associates are entities over which the Group has significant direct or indirect influence, but not control; generally, this implies holding between 20 and 50 percent of the voting rights. Investments in associates are accounted for using the equity method and are initially recognized at cost. The carrying amount of the associates includes the goodwill identified in the acquisition less the accumulated impairment losses, if any. Dividends received from associates reduce the carrying amount of the investment. Other changes subsequent to the acquisition of the Group’s interest in the net assets of an associate are recognized as follows: (i) the Group’s interest in the profits or losses of the associates is accounted under Share of Profit from Associates and Joint Ventures in the consolidated statement of income and (ii) the Group’s interest in other comprehensive income is recognized in the consolidated statement of other comprehensive income and presented separately. However, when the Group’s share in losses in an associate equal or exceeds its interest in it, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized profits on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in the associates; unrealized losses are also eliminated unless the transaction provides evidence of impairment in the transferred asset. |
SEGMENT REPORTING | 1.5. SEGMENT REPORTING An operating segment is a component of an entity (a) that conducts business activities from which it can earn revenues and incur expenses (including revenues and expenses related to transactions with other components of the same entity); (b) whose operating income is regularly reviewed by the Group´s CODM (chief operating decision maker) to make decisions about the resources to be allocated to the segment and assess its performance; and (c) for which confidential financial information is available. Segment reporting is presented consistently with the internal reports submitted to the Board of Directors (CODM of the Group), which is responsible for making the Group’s strategic decisions, allocating resources and assessing the performance of the operating segments. |
FOREIGN CURRENCY TRANSLATION | 1.6. FOREIGN CURRENCY TRANSLATION (a) Functional Currency and Presentation Currency The figures included in the consolidated financial statements of the Group´s entities are stated in their functional currency, that is, the currency used in the primary economic environment where it operates. The consolidated financial statements are stated in Argentine pesos (Ps.), which is the Group’s functional and presentation currency. (See Note 1.1). (b) Transactions and Balances The transactions in foreign currency are translated into the functional currency using the exchange rate at the dates of the transactions. Profits and losses in foreign currency resulting from the settlement of these transactions and the translation of monetary assets and liabilities in foreign currency at closing exchange rate, are recognized under “Exchange rate differences on gold and foreign currency” in the statement of income, except when they are deferred in equity by transactions which qualify as cash flows hedges, if appropriate. Assets and liabilities in foreign currency are measured at the reference exchange rate of the US dollar defined by the Argentine Central Bank at the closing of operations on the last business day of each month. As of December 31, 2020, and December 31, 2019, balances in U.S. Dollars were translated at the reference exchange rate (Ps.84.145 and Ps. 59.895, respectively) established by the Argentine Central Bank. Foreign currencies other than the US dollar have been translated into this currency using exchange rates reported by the Argentine Central Bank. |
CASH AND DUE FROM BANKS | 1.7. CASH AND DUE FROM BANKS The item Cash and Due from Banks includes the available cash and bank deposits freely available, which are liquid short-term instruments with maturity less than three months from the origination date. The assets disclosed under cash and due from banks are accounted for at their amortized cost which approximates its fair value. |
FINANCIAL INSTRUMENTS | 1.8. FINANCIAL INSTRUMENTS Initial Recognition The Group recognizes a financial asset or liability in its consolidated financial statements, as appropriate, when it becomes part of the contractual clauses of the financial instrument. Purchases and sales are recognized at the trading date when the Group buys or sells the instruments. Upon initial recognition, the Group measures financial assets or liabilities at fair value, plus or less, for instruments not recognized at fair value through profit or loss, transaction costs that are directly attributable to the acquisition, such as fees and commissions. When the fair value differs from the cost value of the initial recognition, the Group recognizes the difference as follows: a. When the fair value is according to the market value of the financial asset or liability or is based on a valuation technique solely using market values, the difference is recognized as profit or loss, as appropriate. b. In other cases, the difference is deferred and the recognition over time of the profit and loss is individually determined. The difference is amortized over the life of the instrument until the fair value can be measured based on market values. Financial Assets a. Debt Securities The Group considers as debt securities those instruments considered financial liabilities for the issuer, such as loans, government and private securities, bonds and customer accounts receivable. Classification As established by IFRS 9, the Group classifies financial assets according to how they are subsequently measured: at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss, based on: • the Group’s business model to manage financial assets; and • the characteristics of contractual cash flows of the financial asset. Business Model The Business Model refers to the way in which the Group manages a set of financial assets to reach a specific business objective. It represents the way the Group manages its financial instruments to generate cash flows. Business models that the Group can follow are listed below: • Hold the instruments to collect its contractual cash flows; • Hold the instruments in the portfolio to collect contractual cash flows and, in turn, sell them when deemed convenient; or; • Hold the instruments for trading. The Group’s Business Model does not depend on the intentions that it may have for an individual instrument. Therefore, this condition is not an instrument-by-instrument classification approach, but it is determined from a higher level of aggregation. The Group only reclassifies an instrument when, and only when, the business model for managing financial assets is modified. The reclassification is performed from the commencement of the period where the change takes place. Such change is not expected to be frequent, and changes have not been recorded during this fiscal year. Characteristics of Contractual Cash Flows The Group assesses whether the cash flow of grouped instruments is not significantly different from the flow that would receive solely for interest; otherwise, they shall be measured at fair value through profit or loss. Based on the foregoing, there are three categories of Financial Assets: (i) Financial assets measured at amortized cost: Financial assets are measured at amortized cost when: (a) the financial asset is held within a business model whose objective is to hold financial assets to collect contractual cash flows; and (b) the contractual conditions of the financial asset give rise, on specified dates, to cash flows that are solely payments of principal and interest on the outstanding principal amount. These financial instruments are initially recognized at fair value plus the incremental and directly attributable transaction costs and are subsequently measured at amortized cost. The amortized cost of a financial asset is equal to its acquisition cost less its accumulated amortization plus accrued interest (calculated according to the effective interest method), net of any impairment loss. (ii) Financial assets at fair value through other comprehensive income: Financial assets are measured at fair value through other comprehensive income when: (a) the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and (b) the contractual conditions of the financial asset give rise, on specified dates, to cash flows which are solely payments of principal and interest on the outstanding principal amount. These instruments are initially recognized at their fair value plus the incremental and directly attributable transaction costs and are subsequently measured at fair value through other comprehensive income. Profits and losses arising from the changes in fair value are included in other comprehensive income within a separate equity component. Impairment losses or reversals, income for interest and exchange profits and losses are recognized through profit or loss. Upon its sale or disposal, the accumulated profit or loss previously recognized through other comprehensive income is reclassified to the statement of income. (iii) Financial assets at fair value through profit or loss: Financial assets at fair value through profit or loss are the following: • Instruments held for trading; • Instruments specifically designated at fair value through profit or loss; and • Instruments whose contractual terms do not represent cash flows that are solely payments of principal and interest on the outstanding principal amount. These financial instruments are initially recognized at fair value and any fair value measurement is recognized in the statement of income. The Group classifies a financial instrument as held for trading if it is acquired or incurred for the main purpose of selling or repurchasing it in the short term, or if it is part of a portfolio of financial instruments that are jointly managed and for which there is evidence of short-term earnings, or is a derivative financial instrument not designated as a hedging instrument. Derivative instruments and held-for-trading securities are classified as held for trading and measured at fair value. Additionally, financial assets can be valued at fair value through profit or loss when, by doing so, the Group eliminates or significantly reduces a measurement or recognition mismatch. b. Equity Instruments Equity instruments are so considered by its issuer; this means that they are instruments which do not contemplate a contractual obligation to pay cash, and which evidence a residual interest on the issuer’s asset after deducting its entire liabilities. Such instruments are measured at fair value through profit or loss, except when, at the time of the initial recognition, the irrevocable option had been exercised to measure them at fair value through Other Comprehensive Income. This method is only applicable when the instruments are not held for trading and income shall be accounted in other comprehensive income with no reclassification to profit or loss, even when they are realized. Dividends receivable arising from such instruments shall be recognized through profit or loss solely when the Group is entitled to collect the payment. Financial Liabilities Classification The Group classifies their financial liabilities at amortized cost, using the effective interest rate method, except for: • Financial liabilities measured at fair value through profit or loss, including derivative financial instruments. • Liabilities arising from the transfer of financial assets not complying with the derecognition criteria. • Financial guarantee contracts. • Loan commitments at a lower than market rate. Financial liabilities measured at fair value through profit or loss: the Group may choose to use, at the beginning, the irrevocable option to designate a liability at fair value through profit or loss, if, and only if, in doing so, it reflects a better measurement of financial information because: • the Group eliminates or significantly reduces measurement or recognition inconsistency which would otherwise be exposed in the valuation; • if financial assets and liabilities or a group of financial assets or liabilities, are managed and their performance is assessed on a fair value basis, according to a documented investment or risk management strategy; or • a host contract contains one or more embedded derivative instruments, and the Group has opted for designating the entire contract at fair value through profit or loss. Financial guarantee contracts: Financial guarantee contracts are those contracts requiring the issuer to make specific payments to reimburse the holder for the loss incurred when a specific debtor does not comply with its payment obligation on maturity, in accordance with the original or amended terms of a debt instrument. Financial guarantee contracts are initially measured at fair value, and subsequently measured at the higher of the amount of the loss allowance and the amount initially recognized less, when appropriate, the cumulative amount of income recognized. Derecognition of Financial Instruments Financial Assets A financial asset or, where applicable, a part of a financial asset or a part of a group of similar financial assets, is derecognized when: (i) the rights to receive cash flows from the asset have expired; or (ii) the Group has transferred its rights to receive cash flows from the asset, or has assumed an obligation to pay all of the cash flows received immediately to a third party under a pass-through agreement; and all the risks and rewards of the asset have also been substantially transferred, or, in case all the risks and rewards of the asset had not been substantially transferred or retained, the control of the asset has been transferred. When the contractual rights of receiving the cash flows generated by the asset have been transferred, or a transfer agreement has been executed, the entity assesses if it has retained, and to what extent, the risks and awards inherent in asset ownership. When substantially all the risks and rewards inherent in asset ownership have not been transferred or retained, nor has control of the asset been transferred, the asset continues to be recognized to the extent of its continued involvement over it. In this case, the related liability is also recognized. The transferred asset and the related liability are measured in such a way so as to reflect the rights and obligations that the Group had retained. A continuing involvement that takes the form of a collateral on the transferred asset is measured as the smallest amount between (i) the original carrying amount of the asset, and (ii) the maximum amount of consideration received that would be required to be returned. Financial Liabilities: A financial liability is derecognized when the obligation, has been cancelled, or has expired. When an existing financial liability is exchanged by another of the same borrower under significantly different conditions, or the conditions are significantly modified, such exchange or modification is treated as a derecognition of the original liability and a new liability is recognized, the difference between the value in books of the initial financial liability and the consideration paid is recognized in the Consolidated Statement of Income. When the renegotiation conditions are not significantly different, or the conditions are not significantly modified, the flows of the modified financial liabilities are discounted at the rate of the original contract. |
DERIVATIVE FINANCIAL INSTRUMENTS | 1.9. DERIVATIVE FINANCIAL INSTRUMENTS Derivative Financial instruments, including foreign currency contracts, futures, forward contracts, interest rate swaps, cross currency swaps, interest rate options and foreign currency options are recorder at their fair value. All derivative financial instruments are recorder as assets when the fair value is positive and as liabilities when the fair value is negative, against the agreed price. The changes in the fair value of derivative financial instruments are recognized in profit or loss. In these consolidated financial statements, the Group has not applied hedge accounting. |
REPURCHASE TRANSACTIONS | 1.10. REPURCHASE TRANSACTIONS Reverse Repurchase Transactions According to the derecognition principles in IFRS 9, these transactions are considered as secured borrowings, since the risk has not been transferred to the counterpart. Financing granted through reverse repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset received as collateral. At the closing of each month, accrued interest receivable is imputed to the “Repurchase Transactions” account with offsetting entry in “Interest Income”. The underlying assets received for the reverse repurchase transactions will be recorded in Off-Balance Sheet Items. The assets received that have been sold by the Group are not deducted, but derecognized only when the repo transaction finishes, recording a liability in kind for the obligation to deliver the security sold. Repurchase Transactions Financing received through repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset pledged as collateral. In these transactions, when the receiver of the underlying asset obtains the right to sell it or pledge it as collateral, this is reclassified to the “Financial Assets Pledged as Collateral” accounts. At the closing of each month, accrued interest payable is imputed to the “Repurchase Transactions” account with offsetting entry in “Interest Expenses”. |
ALLOWANCES FOR LOAN LOSSES | 1.11. ALLOWANCES FOR FINANCIAL INSTRUMENTS The Group assesses on a forward-looking basis the expected credit loss (“ECL”) associated with its debt instruments assets carried at amortized cost and FVOCI, together with the exposure arising from loan commitments and financial guarantee contracts. The Group recognizes a loss allowance for such losses at each reporting date. The measurement of ECL reflects: • An unbiased and probability-weighted amount is determined by evaluating a range of possible outcomes, • The time value of money, and • Reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions and forecasts of future economic conditions. Note 45 provides more detail of how the expected credit loss allowance is measured. |
LEASES | 1.12. LEASES 1.12.1. Lease activities of the Group The Group is the lessee of various properties to be used in its ordinary course of business. Lease contracts are generally made for fixed periods, from 1 to 20 years, but in some cases, there may be price agreements for shorter periods with extension options. Lease terms are individually negotiated and contain a wide range of different terms and conditions. From January 1, 2019, leases are recognized as a right-of-use asset and a corresponding liability, on the date at which the leased asset is available for use by the Group. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance fixed payments), less any lease incentives receivable; • variable lease payments based on an index or a rate, initially measured using the index or rate on the initial date; • amounts expected to be payable by the lessee under residual value guarantees; • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease, if it can be determined; or otherwise, the Group’s incremental borrowing rate will be applied, which is the rate that the lessee would have to pay to borrow the necessary funds to obtain an asset of similar value to the right-of- use asset, in a similar economic environment with similar terms, security and conditions. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period, to produce a constant, periodic interest rate on the remaining balance of the liability for each period. Right-of-use assets are measured at their cost, comprising the following: • the amount of the initial measurement of the lease liability; • any lease payment made on or before the initial date, less any lease incentives received; • any initial direct cost; and • restoration and dismantling costs. Right-of-use assets are depreciated over the shorter of the asset useful life and the lease term on a straight-line method. Payments related to short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less that do not contain a bargain purchase option. Low-value assets are defined as small physical spaces where equipment owned by the Group is kept. 1.12.2. Extension and Termination Options The extension and termination options that are included in several Property, Plant and Equipment leases were considered to determine the term of the lease. These options are used to maximize the operational flexibility in terms of managing the assets used in our operations. Most of the extension and termination options held are exercisable only by the Group and not by the respective lessor. |
PROPERTY, PLANT AND EQUIPMENT | 1.13. PROPERTY, PLANT AND EQUIPMENT Assets are measured at their acquisition or construction cost, net of accumulated depreciations and/or accumulated impairment losses, if any. The cost includes the expenses directly attributable to the acquisition or construction of the items. Property, Plant and Equipment acquired through business combinations were initially valued at the estimated fair value at the acquisition date. Subsequent costs are included in the value of the asset or are recognized as a separate asset, as appropriate, if and only if they are likely to generate future economic benefits for the Group, and its cost can be reasonably measured. When improvements are made to the asset, the carrying amount of the replaced asset is derecognized, the new asset being amortized for the remaining useful life. Repair and maintenance costs are recognized in the consolidated statement of income for the year in which they are incurred. The depreciation of these assets is calculated using the straight-line method to allocate their cost over, their estimated useful lives. If an asset includes significant components with different useful lives, they are recognized and depreciated as separate items. The residual values of Property, Plant and Equipment, the useful lives and the depreciation methods are reviewed and adjusted if necessary, at the closing date of each fiscal year, or when there is evidence of impairment. The book value of the Property, Plant and Equipment is immediately reduced to its recoverable amount when it is greater than the estimated recoverable value. Profits and losses from the sale of Property, Plant and Equipment items are determined by comparing the proceeds from the disposal to the carrying amount of the respective asset and are charged to income. |
INTANGIBLE ASSETS | 1.14. INTANGIBLE ASSETS 1.14.1. Licenses Licenses acquired individually are initially valued at cost, while those acquired through business combinations are recognized at their estimated fair value at the acquisition date. At the closing date of these consolidated financial statements, intangible assets with a finite useful life are presented net of accumulated depreciation and/or accumulated impairment losses, if any. These assets are subject to impairment tests annually, or when there is evidence of impairment. The licenses acquired by the Group have been classified as intangible assets with a finite useful life, being amortized on a straight-line basis over the period of the license. Intangible assets with an indefinite useful life are the assets arising from contracts or other legal rights, that can be renewed without significant cost, and for which, based on an analysis of all relevant factors, there is no foreseeable limit of the period along which the asset is expected to generate net cash flows for the Group. These intangible assets are not amortized, but are subject to impairment tests, annually or when there is evidence of impairment, either individually or at the level of the cash generating unit. The determination of the indefinite useful life is annually reviewed to confirm if it continues being applicable. 1.14.2. Software The costs related to software maintenance are recognized as expense when incurred. The development, acquisition and implementation costs that are directly attributable to software design and testing, identifiable and monitored by the Group, are recognized as assets. The costs incurred in software development, acquisition or implementation, recognized as intangible assets, are amortized by applying the straight-line method over their estimated useful lives. |
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS | 1.15. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS 1.15.1. Assets Held for Sale The assets, or group of assets, classified as available for sale in accordance with the provisions of IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations,” will be disclosed separately from the rest of the assets. Non-current assets or disposal groups (including the loss of control over a subsidiary) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. In order for an asset to be classified as held for sale, it must meet the following conditions: • it must be available for immediate sale in its current condition; • Management must be committed to a plan to sell the asset and must have initiated an active program to locate a buyer and complete the plan; • the asset must be actively marketed for sale at a reasonable price in relation to its current fair value; • the sale is expected to be completed within 12 months from its reclassification date; and • it is unlikely that the plan will be significantly changed or withdrawn. The assets, or groups of assets, classified as held for sale in accordance with the provisions of IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”, are measured at the lower of their carrying amount and fair value less costs to sell and are restated in accordance with Note 22. Non-current assets (including those that are part of a disposal group) are not depreciated or amortized while they are classified as held for sale . 1.15.2. Discontinued Operations A discontinued operation is a component of the Group that has been disposed of, or that has been classified as held for sale, and complies with any of the following conditions: • it represents line of business or a geographical area, which is significant and can be considered as separated from the rest; • it is part of a single coordinated plan to have a business line, or geographical area of the operations which is significant and can be considered as separated from the rest; or • it is an independent entity exclusively acquired to resell it. Any profit or loss arising from re-measuring an asset (or group of assets for its disposal) classified as Held for Sale, which does not meet the definition of discontinued operation, will be included in the Income from continuing operations. |
IMPAIRMENT OF NON-FINANCIAL ASSETS | 1.16. IMPAIRMENT OF NON-FINANCIAL ASSETS Assets with indefinite useful life are not subject to amortization and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or, at least, on an annual basis. Depreciation and impairment losses are recognized when the carrying amount exceeds their recoverable value. The recoverable value of assets is the greater of the net amount that it would obtain from its sale, or its value in use. For the impairment tests, the assets are grouped at the lowest level where they generate identifiable cash flows (cash generating units). The carrying amount of non-financial assets other than goodwill over which depreciation and impairment have been recorded, are reviewed at each reporting date for verifying possible depreciation and impairment reversals. |
TRUST ASSETS | 1.17. TRUST ASSETS The assets held by the Group in its trustee role are not reported in the consolidated statement of financial position, because the Group is not in control of the trust or the risks and rewards of the underlying assets. Fees received from trust activities are recorded in Fee Income . |
OFFSETTING | 1.18. OFFSETTING Financial assets and liabilities are offset by reporting the net amount in the Consolidated Statement of Financial Position only when there is a legally enforceable right to offset the recognized amounts, and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously. |
FINANCING RECEIVED FROM THE ARGENTINE CENTRAL BANK AND OTHER FINANCIAL INSTITUTIONS | 1.19. FINANCING RECEIVED FROM THE ARGENTINE CENTRAL BANK AND OTHER FINANCIAL INSTITUTIONS The amounts owed to other Financial Institutions are recorded at the time the principal is disbursed to the Group. Non-derivative financial liabilities are measured at amortized cost. If the Group repurchases its own debt, this is eliminated from the consolidated financial statements, and the difference between the residual value of the financial liability and the amount paid is recognized as a financial income or expense. |
PROVISIONS AND CONTINGENCIES | 1.20. PROVISIONS AND CONTINGENCIES In accordance with IFRS a provision will be recognized when: a. an Entity has a current obligation (either legal or implicit) as a consequence of a past event; b. it is probable that an outflow of resources embodying future economic benefits will be required to settle the obligation; and c. the amount can be reliably estimated. It will be understood that the Group has an implicit obligation if (a) as a result of previous practices or public policies, the Group has assumed certain liabilities; and (b) as a result, it has created expectations that it will comply with those obligations. The Group recognizes the following provisions: • For labor, civil, and commercial lawsuits: provisions are determined based on the lawyers’ reports on the status of the lawsuits and the estimate made on the bankruptcy possibilities to be faced by the Group, as well as on past experience regarding this type of lawsuits. • For miscellaneous risks: provisions are set up to face contingent situations that may give rise to obligations for the Group. When estimating the amounts, the probability of their materializing is taken into account, considering the opinion of the Group’s legal advisors and professionals. The amount recognized as provision must be the best estimate of the disbursement needed to cancel such obligation, at the end of the year being reported. When the financial effect produced by the discount becomes important, the amount of the provision must be the present value of the disbursements that are expected to be required to cancel the obligation by using a pre-tax interest rate that reflects the current market conditions on the value of money and the specific risks for such obligation. The increase in the provision for the lapsing of time is recognized in the Net Financial Income item of the Statement of Income. The Group will not record the positive contingencies, except those arising from deferred taxes and those which materialization is virtually certain. At the date of issuance of these consolidated financial statements, the Group Directors understand that there have been no elements that allow determining the existence of other contingencies that may be materialized and generate a negative impact on these consolidated financial statements, as detailed in Note 29. |
OTHER NON-FINANCIAL LIABILITIES | 1.21. OTHER NON-FINANCIAL LIABILITIES Non-financial accounts payable are accrued when the counterparty has complied its contractual obligations under the contract, and they are measured at amortized cost. |
DEBT SECURITIES | 1.22. DEBT SECURITIES The Group’s Debt Securities are measured at amortized cost. If the Group purchases debt securities of their own, the obligation in Liabilities related to such debt securities is considered extinguished, and, therefore, it is derecognized. If the Group repurchases its own debt, this is eliminated from the Consolidated Financial Statements, and the difference between the residual value of the financial liability and the amount paid is recognized as a financial income or expense. |
ASSETS AND LIABILITIES ARISING FROM INSURANCE CONTRACTS | 1.23. ASSETS AND LIABILITIES ARISING FROM INSURANCE CONTRACTS The valuation and recording of assets and liabilities arising from the Group’s insurance contracts is performed pursuant to the IFRS 4 “Insurance Contracts” criteria. Assets for Insurance Contracts Insurance contracts are contracts where the Group (the insurer) has accepted an insurance risk from another party (the insured) by agreeing to compensate the insured if a specified uncertain future event (the insured event) adversely affects the insured. Once a contract has been classified as an insurance contract, it remains an insurance contract for the rest of its useful life, even if the insurance risk is significantly reduced during this period, unless all rights and obligations are extinguished or expire. The insurance contracts offered by the Group include property insurance that covers fire, combined family insurance, theft and similar risks, property damage, personal accidents, among other risks. Life insurance and Retirement insurance contracts are also included. Total premiums are recognized as of the policy issuance date as an account receivable. At the same time, a reserve is recorded in Liabilities for unearned premiums representing premiums for risks that have not yet expired. The unearned premiums are recognized as Income for the contract period, which is also the coverage and risk period. The book value of insurance accounts receivable is reviewed for impairment if events or circumstances indicate that the book value may not be recoverable. Impairment loss is recorded in the Statement of Income. Liabilities Recognized for the Insurance Business Debts with Insured Persons Reserves for Insurance claims represent debts with insured persons for claims reported to the company, and an estimate of the claims that have already been incurred but have not yet been reported to the company. Reported claims are adjusted based on technical reports received from independent appraisers. Debts with Reinsurers and Co-insurers The Group mitigates the risk for some of its insurance business through coinsurance or reinsurance contracts in other companies. For coinsurance, the Company associates with another company to cover a risk, by assuming only a percentage of it and, therefore, also of the premium. For reinsurance, the risk is transferred to another insurance company both in proportional (as a risk percentage) and non-proportional form (the excess of loss above a certain limit is covered). The transferred reinsurance agreements do not exempt the Group from its obligations with the insured persons. Coinsurance and reinsurance liabilities represent balances owed under the same conditions, and the amounts payable are estimated in a manner consistent with the contract that gave rise to them. Debts with Producers They represent liabilities with insurance producers and independent agents arising from the commissions for the insurance transactions they bring for the Group’s companies. The checking account balances with such entities are also included. Technical Commitments Technical reserves include reserves for future benefit obligations under life, annuity and accident insurance policies, and reserves for retirement insurance contracts. The Group assesses, at the end of the reporting period, the adequacy of the insurance liabilities it has recognized, using current estimates of future cash flows from its insurance contracts. Should the evaluation show that the carrying amount of its liabilities for insurance contracts (minus deferred acquisition costs and related intangible assets) is not adequate, considering the estimated future cash flows, the total amount of the deficiency will be recognized in Income. In accordance with IFRS 4, the Group must determine the adequacy of the amount in books recorded in accordance with the guidelines established in IAS 37. |
SHAREHOLDERS' EQUITY | 1.24. SHAREHOLDERS’ EQUITY Shareholders’ equity accounts are restated in accordance with Note 1.1.b., except for the item “Capital Stock”, which is carried at face value. The restatement adjustment is included in “Equity Adjustments”. Ordinary shares are classified in Shareholders’ Equity and remain recorded at their nominal value. When any company forming part of the Group buys Company shares (treasury shares in portfolio), the payment made, including any costs directly attributable to the transaction (net of taxes) is deducted from the Shareholders’ Equity until the shares are canceled or sold. |
PROFIT RESERVES | 1.25. PROFIT RESERVES According to Art. 70 of the General Companies Act, the Company and its subsidiaries, except Banco Galicia, must transfer to Legal Reserve 5% of the profit for the year, until said reserve reaches 20% of the capital stock plus the balance of the Equity Adjustment account. Regarding Banco Galicia, in accordance with the regulations established by the Argentine Central Bank, it is appropriate to allocate to Legal Reserve 20% of the profits for the year, net of the eventual adjustments of previous fiscal years, if applicable. However, for the allocation of Other Reserves, the Financial Institutions must comply with the Argentine Central Bank provisions of the Amended Text on dividends distribution detailed in Note 52. |
DIVIDENDS DISTRIBUTION | 1.26. DIVIDENDS DISTRIBUTION The dividends distribution to the Group’s shareholders is recognized as a liability in the consolidated financial statements in the year in which the dividends are approved by the Group’s shareholders. |
REVENUE RECOGNITION | 1.27. REVENUE RECOGNITION Financial income and expenses are recorded for all debt instruments according to the effective interest rate method, by which all gains and losses that are an integral part of the effective interest rate of the transaction are deferred. The income included in the effective interest rate includes disbursements or income related to the creation or acquisition of a financial asset or liability, such as, for example, the preparation and processing of the documents necessary to conclude the transaction and the compensation received by the granting of credit agreements. The Group records all its non-derivative financial liabilities at amortized cost, except those included in the item “Liabilities at Fair Value through Profit or Loss” which are measured at fair value. Fees received by the Group for the origination of syndicated loans are not part of the effective interest rate of the product, and are recognized in the statement of income at the time the service is provided, to the extent the Group does not retain part of it, or this is maintained in the same conditions as the rest of the participants. Commissions and fees earned by the Group on negotiations in third parties’ transactions are not part of the effective interest rate either, and are recognized at the time the transactions are executed. IFRS 15 establishes the principles that an entity shall apply to recognize revenue and cash flows from contracts with customers. The amount that should be recognized will be the amount that reflects the consideration to which the entity expects to be entitled in exchange for the services delivered to customers. The Group’s income from services is recognized in the statement of income to the extent the performance obligations are complied with, thus deferring those revenues related to customer loyalty programs, which are provisioned based on the fair value of each point and its redemption rate, until they are exchanged by the customer and can be recognized in the income for the year. Retail product and service fees related to savings and checking account operations have a monthly charging frequency; safe deposit boxes fees are charged quarterly; renewal of credit cards is charged annually, and bond and shares transactions are charged at the time the transactions are executed. Additionally, fees for wholesale products corresponding to maintenance of accounts, deposits and withdrawals between entities, are charged on a monthly basis; foreign trade transactions are charged at the time the transactions are executed. Below is a summary of the main commissions earned by the Bank: Commissions Earning Frequency Retail Products and Services Savings Accounts Monthly Checking Accounts Monthly Credit-card Renewal Annual Safe Deposit Boxes Quarterly Bonds and Shares Transactions On each transaction Wholesale Products Account Maintenance Monthly Deposits and Withdrawals among Branches Monthly Foreign Trade Transactions On each transaction |
INCOME TAX | 1.28. INCOME TAX The Income tax expense for the year comprises the current and the deferred taxes. Income tax is recognized in the consolidated statement of income, except when there are items that must be directly recognized in other comprehensive income. In this case, income tax liability related to such items is also recognized in this Statement. The current income tax expense is calculated based on the tax laws enacted, or substantially enacted as of the date of the consolidated financial statements in the countries where the Group operates and generates taxable income. The Group periodically assesses the position assumed in tax returns as regards the situations in which tax laws are subject to interpretation. Likewise, when applicable, the Group sets up provisions on the amounts that it expects to be paid to tax authorities. Deferred income tax is determined by the liability method on the temporary differences arising from the carrying amount of assets and liabilities and their tax base. However, the deferred tax that arises from the initial recognition of an asset or a liability in a transaction not corresponding to a business combination, which at the time of the transaction does not affect neither the profit nor the accounting or taxable loss, is not recorded. Deferred tax is determined using tax rates (and legislation) that have been enacted as of the date of the financial statements and are expected to be applicable when the deferred tax assets are realized, or the deferred tax liabilities are settled. Deferred tax assets are recognized only to the extent future tax benefits are likely to arise against which the temporary differences might be offset. The Group recognizes a deferred tax liability for taxable temporary differences related to investments in subsidiaries and affiliates, unless the following two conditions are met: (i) the Group controls the timing on which temporary differences will be reversed, and. (ii) such temporary differences are not likely to be reversed in the foreseeable future. The balances of deferred income tax assets and liabilities are offset when a legal right exists to offset current tax assets against current tax liabilities and to the extent such balances are related to the same tax authority of the Group or its subsidiaries, where tax balances are intended to be, and may be, settled on a net basis. |
EARNINGS PER SHARE | 1.29. EARNINGS PER SHARE Basic earnings per share is calculated by dividing the income attributable to parent company’s owners by the weighted average number of ordinary shares outstanding during the financial year. Diluted earnings per share is calculated by adjusting the figures used in the determination of basic earnings per share assuming the conversion of all dilutive potential ordinary shares. |
FAIR VALUE OF FINANCIAL INSTRUMENTS | a. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of financial instruments not listed in active markets is determined by using valuation techniques. Such techniques are periodically validated and reviewed by qualified personnel independent from the area or independent appraisers that developed them. All models are assessed and adjusted before they are used, to ensure that their results reflect the current information and comparable market prices. To the extent possible, the models rely only on observable inputs; however, certain factors such as projected cash flows, discount rates and volatilities and correlations relating to interest rates and spreads require the use of estimates. Changes in the assumptions about these factors can affect the reported fair value of the financial instruments. |
ALLOWANCE FOR LOAN LOSSES | b. ALLOWANCE FOR LOAN LOSSES The Group recognizes the allowance for loan losses under the expected credit losses method included in IFRS 9. The most significant judgments of the model relate to defining what is considered a significant increase in credit risk, identifying assets which are impaired or subject to serious risk of impairment, developing parameters such as the probabilities of default and the loss given default and making assumptions about macroeconomic scenarios. A high degree of uncertainty is involved in making estimations using assumptions that are highly subjective and very sensitive to the risk factors. Furthermore, the level of estimation uncertainty and judgement has increased during 2020 as a result of the economic effects of the Covid-19 outbreak. |
IMPAIRMENT OF NON-FINANCIAL ASSETS | c. IMPAIRMENT OF NON-FINANCIAL ASSETS Intangible assets with finite useful lives and property, plant and equipment are amortized or depreciated on a straight-line basis during their estimated useful life. The Group monitors the conditions related to these assets to determine whether the events and circumstances require a review of the remaining amortization or depreciation term, and whether there are factors or circumstances indicating impairment in the value of the assets that cannot be recovered. The Group has applied judgment to identify impairment indicators for property, plant and equipment and intangible assets. The Group has concluded that there were no impairment indicators for any of the years reported in its consolidated financial statements. |
INCOME TAX AND DEFERRED TAX | d. INCOME TAX AND DEFERRED TAX Significant judgment is required when determining current and deferred tax assets and liabilities. The current income tax is accounted according to the amounts expected to be paid; while deferred income tax is accounted on the basis of temporary differences between carrying amount of assets and liabilities and their tax base, at the rates expected to be in force at the time of their reversal. A deferred tax asset is recognized when future taxable income is expected to exist to offset such temporary differences, based on Management’s assumptions about the amounts and timing of such future taxable income. Then, management needs to determine whether deferred tax assets are likely to be used and offset against future taxable income. Actual results may differ from these estimates, for instance, changes in the applicable tax laws or the outcome of the final review of the tax returns by the tax authorities and tax courts. Future taxable income and the number of tax benefits likely to be available in the future are based on a medium-term business plan prepared by management, on the basis of expectations which are deemed reasonable. |
Accounting Policies and Basis_3
Accounting Policies and Basis for Preparation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Main Commissions Earned by the Bank | Below is a summary of the main commissions earned by the Bank: Commissions Earning Frequency Retail Products and Services Savings Accounts Monthly Checking Accounts Monthly Credit-card Renewal Annual Safe Deposit Boxes Quarterly Bonds and Shares Transactions On each transaction Wholesale Products Account Maintenance Monthly Deposits and Withdrawals among Branches Monthly Foreign Trade Transactions On each transaction |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Portfolios of Financial Instruments | As of the indicated dates, the Group maintains the following portfolios of financial instruments: Portfolio of Instruments as of 12.31.2020 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 175,423,476 — Argentine Central Bank’s Bills and Notes 128,324,920 — — Government Securities 24,282,643 — — Corporate Securities 2,811,997 — — Derivative Financial Instruments 2,165,032 — — Repurchase Transactions — 60,995,643 — Other Financial Assets 2,791,983 7,301,643 — Loans and Other Financing — 526,434,119 — Other Debt Securities — 18,885,279 4,185,098 Financial Assets Pledged as Collateral 2,035,559 16,681,884 — Investments in Equity Instruments 5,711,684 — — Liabilities Deposits — 676,395,735 — Derivative Financial Instruments 57,450 — — Other Financial Liabilities — 97,471,465 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 13,833,439 — Debt Securities — 17,073,898 — Subordinated Debt Securities — 21,653,546 — Portfolio of Instruments as of 12.31.2019 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 177,866,400 — Argentine Central Bank’s Bills and Notes 79,153,628 — — Government Securities 9,121,674 — — Corporate Securities 1,156,076 — — Derivative Financial Instruments 3,170,815 — — Repurchase Transactions — 40,944,933 — Other Financial Assets 6,840,391 8,019,809 — Loans and Other Financing — 488,144,152 — Other Debt Securities — 4,224,883 21,668,553 Financial Assets Pledged as Collateral 2,362,981 13,362,055 — Investments in Equity Instruments 6,200,459 — — Liabilities Deposits — 536,033,696 — Liabilities at fair value through profit or loss 1,936,133 — — Derivative Financial Instruments 1,199,533 — — Other Financial Liabilities — 97,153,624 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 30,936,161 — Debt Securities — 39,808,666 — Subordinated Debt Securities — 21,100,718 — |
Fair Values (Tables)
Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Financial Instruments Measured at Fair Value | The Group’s financial instruments measured at fair value at the end of the reporting period are detailed below: Portfolio of Instruments as of 12.31.20 Fair Value Level Fair Value Level Fair Value Level Assets Argentine Central Bank’s Bills and Notes — 128,324,920 — Government Securities 23,170,495 911,380 200,768 Corporate Securities 1,653,980 — 1,158,017 Derivative Financial Instruments — 547,929 1,617,103 Other Financial Assets 2,760,728 31,255 — Other Debt Securities (* 604,996 3,580,102 — Financial Assets Pledged as Collateral 2,035,559 — — Investments in Equity Investments 234,774 — 5,476,910 Liabilities Derivative Financial Instruments — 57,450 — Total 30,460,532 133,338,136 8,452,798 (*) It relates to Government Securities measured at fair value through other comprehensive income. Portfolio of Instruments as of 12.31.19 Fair Value Level Fair Value Level Fair Value Level Assets Argentine Central Bank’s Bills and Notes — 79,153,628 — Government Securities 2,052,669 — 7,069,005 Corporate Securities 904,405 — 251,671 Derivative Financial Instruments — 1,903,979 1,266,836 Other Financial Assets 6,789,474 50,917 — Other Debt Securities (*) 21,668,553 — — Financial Assets Pledged as Collateral 957,979 — 1,405,002 Equity Investments 220,552 — 5,979,907 Liabilities Liabilities at fair value through profit or loss 1,936,133 — — Derivative Financial Instruments — 1,199,533 — Total 30,657,499 79,908,991 15,972,421 (*) It relates to Government Securities measured at fair value through other comprehensive income. |
Summary of Changes in Instruments Included in Fair Value Level 3 | The evolution of instruments included in Level 3 Fair Value is detailed below: Level 3 12.31.19 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.20 Government Securities 7,069,005 (1,734,412 ) 18,522,437 (22,946,325 ) 915,243 (1,625,180 ) 200,768 Corporate Securities 251,671 123,615 3,850,367 (2,996,313 ) 99,825 (171,148 ) 1,158,017 Derivative Financial Instruments 1,266,836 — — — 686,568 (336,301 ) 1,617,103 Financial Assets Pledged as Collateral 1,405,002 (209,844 ) 700,459 (1,580,566 ) (162,288 ) (152,763 ) — Investments in Equity Instruments 5,979,907 — — — 1,052,243 (1,555,240 ) 5,476,910 Total 15,972,421 (1,820,641 ) 23,073,263 (27,523,204 ) 2,591,591 (3,840,632 ) 8,452,798 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.18 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.19 Government Securities 983,085 9,025,790 24,808,830 (26,392,026 ) (1,247,071 ) (109,603 ) 7,069,005 Corporate Securities 1,659,863 29,357 8,855,903 (9,903,261 ) 372,290 (762,481 ) 251,671 Derivative Financial Instruments — — 1,743,456 — — (476,620 ) 1,266,836 Financial Assets Pledged as Collateral — 2,962,544 1,299,228 (2,378,488 ) (496,746 ) 18,464 1,405,002 Investments in Equity Instruments 281,177 (29,423 ) 7,198,058 — 438,721 (1,908,626 ) 5,979,907 Total 2,924,125 11,988,268 43,905,475 (38,673,775 ) (932,806 ) (3,238,866 ) 15,972,421 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. |
Summary of Assets and Liabilities Recorded at Amortized Cost | The Group included below the fair value of the instruments not carried at fair value as of the year-end. Items of Assets/(Liabilities) as of 12.31.20 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 175,423,476 175,423,476 175,423,476 — — Repurchase Transactions 60,995,643 60,995,643 60,995,643 — — Loans and Other Financing 526,434,119 527,834,544 — — 527,834,544 Other Financial Assets 7,301,643 7,161,885 4,399,582 — 2,762,303 Other Debt Securities 18,885,279 18,878,854 — — 18,878,854 Financial Assets Pledged as Collateral 16,681,884 16,681,884 16,681,884 — — Liabilities Deposits 676,395,735 676,454,768 — — 676,454,768 Financing Received from the Argentine Central Bank and Other Financial Institutions 13,833,439 9,934,732 — — 9,934,732 Debt Securities 17,073,898 16,207,692 12,208,069 — 3,999,623 Subordinated Debt Securities 21,653,546 18,850,289 — — 18,850,289 Other Financial Liabilities 97,471,465 97,083,349 — — 97,083,349 Items of Assets/(Liabilities) as of 12.31.19 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 177,866,399 177,866,399 177,866,399 — — Repurchase Transactions 40,944,933 40,944,933 40,944,933 — — Loans and Other Financing 488,144,152 487,184,349 — — 487,184,349 Other Financial Assets 8,019,809 8,796,107 9,228 — 8,786,879 Other Debt Securities 4,224,883 4,233,738 — — 4,233,738 Financial Assets Pledged as Collateral 13,362,055 13,362,054 13,362,054 — — Liabilities Deposits 536,033,696 536,246,597 — — 536,246,597 Financing Received from the Argentine Central Bank and Other Financial Institutions 30,936,161 29,554,907 — — 29,554,907 Debt Securities 39,808,666 40,333,927 40,333,927 — — Subordinated Debt Securities 21,100,718 20,384,249 — — 20,384,249 Other Financial Liabilities 97,153,624 96,516,196 — — 96,516,196 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | Cash and cash equivalents break down as follows: 12.31.20 12.31.19 12.31.18 Cash and Due from Banks 175,423,476 177,866,399 300,130,550 Argentine Central Bank’s Bills and Notes Maturing up to 90 Days 128,324,920 79,153,628 146,845,198 Reverse repurchase Transactions Debtors 60,842,046 40,837,234 4,309,110 Loans to Financial Institutions 6,500,000 — 1,964,438 Overnight Placements in Foreign Banks 1,661,834 10,720,687 11,101,128 Mutual Funds 2,760,728 6,764,519 8,083,157 Time Deposits 3,306,869 665,630 598,963 Total Cash and Cash Equivalents 378,819,873 316,008,097 473,032,544 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Derivative Instrument Transactions | The amounts of transactions as of December 31, 2020 and 2019 are as follows: Underlying Asset Type of Settlement 12.31.20 (*) 12.31.19 (*) Currency Forward Transactions Purchases Foreign currency Daily difference 25,716,730 24,787,263 Sales Foreign currency Daily difference 14,328,423 17,225,667 Customers´ Purchases Foreign currency Daily difference 1,549,356 13,531,017 Customers´ Sales Foreign currency Daily difference 12,563,375 21,060,236 Interest Rate Swaps Swaps Others Other 82,909 490,436 Repurchase Transactions Forward Sales Government Securities With delivery of the underlying asset 61,923,889 40,799,609 (*) Notional values. |
Repurchase Transactions (Tables
Repurchase Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Repo Transactions and Reverse Repo Transactions | As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.20 12.31.19 Debtors for Reserve Repurchase Transactions of Government Securities 60,842,046 40,837,234 Interest Accrued Receivable for Reserve Repurchase Transactions 153,597 107,699 Total Repurchase Transactions—Assets 60,995,643 40,944,933 |
Summary of Repo Agreements in Financial Assets Pledged as Collateral and Reverse Repo Agreements in Off-Balance Sheet Items | 12.31.20 12.31.19 Reverse Repurchase Transactions recorded in Off-Balance Sheet Items 61,923,889 40,799,609 |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Other Financial Assets | As of the indicated dates, the balances of “Other Financial Assets” correspond to: 12.31.20 12.31.19 Receivables from Spot Sales of Foreign Currency Pending Settlement 107,542 107,860 Receivables from Spot Sales of Government Securities Pending Settlement 1,239,870 243,816 Sundry Debtors 4,819,857 6,295,414 Mutual Funds 2,760,728 6,789,474 Premiums from financial guarantee contracts 484,028 875,839 Others 737,305 705,705 Minus: Allowances (55,704 ) (157,908 ) Total 10,093,626 14,860,200 |
Summary of Credit Rating Quality Analysis of Other Financial Assets | The credit rating quality analysis of Other Financial Assets as of December 31, 2020 was as follows: Debtors Debtors for Sundry Mutual Premiums Other Not yet due 107,542 1,239,870 4,814,695 2,760,728 484,028 737,305 Impaired/Uncollectible — — 5,162 — — — Allowances — — (55,704 ) — — — Total 107,542 1,239,870 4,764,153 2,760,728 484,028 737,305 |
Loans and Other Financing (Tabl
Loans and Other Financing (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Net Loans and Other Financing | The composition of the Loans and Other Financing portfolio as of the indicated dates is detailed below: 12.31.20 12.31.19 Non-financial Public Sector 334 9,297 Argentine Central Bank 13,195 30,460 Financial Institutions 14,700,600 14,697,129 Loans 14,700,600 14,697,129 Non-financial Private Sector and Residents Abroad 548,953,562 508,591,528 Loans 537,206,661 492,932,211 Advances 29,219,431 21,635,827 Notes 143,769,344 102,214,820 Mortgage Loans 16,486,335 20,492,746 Pledge Loans 11,586,593 4,368,295 Personal Loans 36,504,158 37,637,281 Credit Card Loans 241,793,015 203,475,676 Other Loans 36,431,415 84,111,147 Accrued Interest, Adjustments and Quotation Differences Receivable 23,649,868 20,755,403 Documented Interest (2,233,498 ) (1,758,984 ) Financial Leases 1,855,070 3,030,008 Other Financing 9,891,831 12,629,309 Less: Allowances (37,233,572 ) (35,184,262 ) Total 526,434,119 488,144,152 |
Financial Assets Pledged as C_2
Financial Assets Pledged as Collateral (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Financial Assets Pledged as Collateral | The Financial Assets Pledged as Collateral valuated in accordance with their underlying asset for the years under analysis are detailed below: 12.31.20 12.31.19 Deposits as Collateral 6,899,443 5,479,776 Special Accounts as Collateral—Argentine Central Bank 11,444,550 10,245,260 Trust as Collateral 373,450 — Total 18,717,443 15,725,036 |
Current Income Tax Assets (Tabl
Current Income Tax Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Current Income Tax Assets | As of the indicated dates, the balances of Current Income Tax Assets correspond to: 12.31.20 12.31.19 Tax Advances 197,094 54,577 Minimum Notional Income Tax – Tax Credit — 564 Total 197,094 55,141 |
Equity Investments in Subsidi_2
Equity Investments in Subsidiaries, Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Equity Investments in Subsidiaries | The basic information regarding Grupo Financiero Galicia’s consolidated subsidiaries is detailed as follows: Direct and Indirect Shareholding Equity Investment Company 12.31.20 12.31.19 12.31.20 12.31.19 Banco de Galicia y Buenos Aires S.A.U. 668,549,353 668,549,353 100.00 % 100.00 % Cobranzas Regionales S.A. 3,910,000 8,300 100.00 % 83.00 % Galicia Administradora de Fondos S.A. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,309 71,310 99.99 % 99.99 % Galicia Retiro Compañía de Seguros S.A. 7,727,271 7,727,271 100.00 % 100.00 % Galicia Securities S.A. 95,392,000 — 100.00 % — Galicia Seguros S.A. 1,830,883 1,830,883 100.00 % 100.00 % Galicia Warrants S.A. 1,000,000 1,000,000 100.00 % 100.00 % IGAM LLC 77,643,963 73,996,713 100.00 % 100.00 % IGAM Uruguay Agente de Valores S.A. 12,000 12,000 100.00 % 100.00 % INVIU S.A.U. 1,000,000 1,000,000 100.00 % 100.00 % Naranja Digital Compañía Financiera S.A.U. 1,012,567,500 541,631,025 100.00 % 83.00 % Ondara S.A. 25,776,101 12,955,140 100.00 % 83.85 % Sudamericana Holding S.A. 185,653 185,653 100.00 % 100.00 % Tarjeta Naranja S.A. 2,824 2,344 100.00 % 83.00 % Tarjetas Regionales S.A. 1,680,183,936 894,552,668 100.00 % 83.00 % |
Summary of Balances of Subsidiaries, According to the IFRS-based Accounting Framework | The following are the balances of subsidiaries, according to IFRS as of the indicated dates: 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 946,019,300 794,198,155 151,821,145 20,928,333 Cobranzas Regionales S.A. 1,484,287 1,263,843 220,444 (567,858 ) Galicia Administradora de Fondos S.A. 1,382,069 468,718 913,351 1,121,556 Galicia Broker Asesores de Seguros S.A. (**) 47,231 20,345 26,886 40,720 Galicia Retiro Compañía de Seguros S.A. (**) 507,046 396,155 110,891 3,657 Galicia Securities S.A. (***) 2,566,696 2,225,050 341,646 230,062 Galicia Seguros S.A. (**) 4,717,752 3,052,802 1,664,950 1,211,751 Galicia Warrants S.A. 702,846 171,752 531,094 (41,174 ) IGAM LLC 506,066 161,584 344,482 156,518 IGAM Uruguay Agente de Valores S.A. 865 2,800 (1,935 ) (2,802 ) INVIU S.A.U. 433,281 160,078 273,203 160,450 Naranja Digital Compañía Financiera S.A.U. 833,786 54,920 778,866 (431,203 ) Ondara S.A. 31,720 94 31,626 (13,533 ) Sudamericana Holding S.A. (**) 5,916,613 3,329,257 2,587,356 1,318,261 Tarjeta Naranja S.A. 101,268 77,416 23,852 3,315,984 Tarjetas Regionales S.A. 103,071,416 77,507,787 25,563,629 2,160,052 (*) Income attributable to the shareholders of the parent. Not including “Other Comprehensive Income”. (**) Net income for the twelve-month period ended December 31, 2020. (***) Net income for the period between the purchase date and December 31,2020. 12.31.19 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 839,110,959 708,010,986 131,099,973 30,336,364 Cobranzas Regionales S.A. 702,134 316,551 385,583 (299,779 ) Galicia Administradora de Fondos S.A. 612,028 98,149 513,879 302,238 Galicia Broker Asesores de Seguros S.A. (**) 68,001 38,917 29,084 44,140 Galicia Retiro Compañía de Seguros S.A. (**) 488,839 382,963 105,876 (27,432 ) Galicia Securities S.A. — — — — Galicia Seguros S.A. (**) — 2,721,178 (2,721,178 ) 795,761 Galicia Warrants S.A. 793,298 170,513 622,785 171,212 IGAM LLC 3,061,060 2,877,270 183,790 71,697 IGAM Uruguay Agente de Valores S.A. 1,119 — 1,119 (23 ) INVIU S.A.U. 3,056,981 2,875,233 181,748 (19,591 ) Naranja Digital Compañía Financiera S.A.U. 1,195,023 354,860 840,163 (120,719 ) Ondara S.A. 48,201 1,446 46,755 (7,226 ) Sudamericana Holding S.A. (**) 6,064,430 3,356,339 2,708,091 862,867 Tarjeta Naranja S.A. 86,914,652 65,532,267 21,382,385 1,843,861 Tarjetas Regionales S.A. 90,010,710 66,840,431 23,170,279 888,870 (*) Income attributable to the shareholders of the parent. Not including “Other Comprehensive Income”. (**) Net income for the twelve-month period ended December 31, 2019. |
Summary of investments in asociates | Company Equity Place of 12.31.20 12.31.19 Play Digital S.A. (*) 15.58 % Autonomous 89,142 — (*) After the closing of these financial statements, Banco Galicia has accepted an offer for the sale of VN 31,145,090 shares to another financial entity. Consequently, the shareholding was reduced to 12.976%. The movements of such investment are as follows: Company 12.31.19 Contributions Profit Sharing in 12.31.20 Play Digital S.A. — 214,195 (125,053 ) 89,142 The basic information regarding Grupo Financiero Galicia’s associates is detailed as follows: 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income Play Digital S.A. 882,481 85,374 797,107 (571,938 ) For more details see Schedule E. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of information about lease asset and liabilities | (i) Amounts recognized in the Statement of Financial Position: 12.31.20 12.31.19 Right-of-use asset (1) 4,052,593 5,011,534 Real estate 4,052,593 5,011,534 Lease Liabilities (2) 4,363,406 5,129,987 (1) Recorded in the Property, Plant and Equipment item, for right of use of real property, see Note 17. (2) Recorded in the item Other Financial Liabilities, see Note 25. |
Summary of information about income statement disclosures of leases | (ii) Amounts recognized in the Statement of Income: 12.31.20 12.31.19 Charge for depreciation of right-of-use assets (1)(2) 1,312,301 1,313,102 Interest Expenses (3) 398,850 511,138 Expenses related to short-term leases (4) 141,700 33,079 Expenses related to low-value assets leases (4) 167,148 102,714 Sublease Income (5) 9,790 2,146 (1) Depreciation for right of use of Real Property. (2) Recorded in the item Depreciation and Impairment of assets, see Note 39. (3) Recorded in the item Other Operating Expenses, Lease Interest, see Note 40. (4) Recorded in the item Administrative Expenses, see Note 38. (5) Recorded in the item Other Operating Income, see Note 34. |
Summary of quantitative information about right of use assets and lease liabilities | The evolution of right -of-use assets and lease liabilities during the years 2020 and 2019 and is as follows: Right-of-use assets 12.31.20 12.31.19 Balances at the beginning of the year 5,011,534 6,073,274 Additions 629,385 251,362 Cancellation of contracts (276,025 ) — Depreciation of the year (1,312,301 ) (1,313,102 ) Balances at the end of the year 4,052,593 5,011,534 Lease liabilities (1) 12.31.20 12.31.19 Balances at the beginning of the year 5,129,987 6,073,274 New contracts 629,385 251,362 Cancellation of contracts (269,503 ) — Lease payments (1,333,090 ) (1,361,874 ) Leases financial cost 398,850 511,138 Translation differences and inflation adjustment (192,223 ) (343,913 ) Balances at the end of the year 4,363,406 5,129,987 (1) Recorded in the item Other Financial Liabilities, see Note 25. |
Deferred Income Tax Assets_Li_2
Deferred Income Tax Assets/Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Changes in Deferred Income Tax Assets and Liabilities | Changes in “Deferred Income Tax Assets and Liabilities” during the fiscal years ended December 31, 2020 and December 31, 2019 are as follows: Deferred Tax Assets Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities 51,229 (51,125 ) — 104 Loans and Other Financing 4,278,791 6,958,396 — 11,237,187 Tax Loss Carryforwards 66,615 246,174 — 312,789 Other Non-financial Assets 15,463 14,465 — 29,928 Allowance for Impairment 9,541 (9,541 ) — — Other Financial Liabilities — 1,861 — 1,861 Subordinated Negotiable Obligations — 7,064 — 7,064 Provisions 2,365,351 (1,577,952 ) — 787,399 Other Non-financial Liabilities 616,418 (208,028 ) — 408,390 Inflation adjustment deferral 7,914,417 3,704,300 — 11,618,717 Others 89,831 125,895 — 215,726 Totals 15,407,656 9,211,509 — 24,619,165 Net deferred tax assets in subsidiaries with net liability position (11,586,278 ) (3,820,292 ) — (15,406,570 ) Deferred tax assets 3,821,378 5,391,217 — 9,212,595 Deferred Tax Liabilities Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities (28,583 ) (1,275,634 ) — (1,304,217 ) Other Financial Assets (71,037 ) 45,911 — (25,126 ) Property, Plant and Equipment (10,343,737 ) (985,021 ) — (11,328,758 ) Intangible Assets (995,392 ) (1,649,968 ) — (2,645,360 ) Other Non-financial Assets (843,466 ) 661,194 — (182,272 ) Non-current Assets Held for Sale (2,102,102 ) 2,102,102 — — Other Financial Liabilities (34,675 ) — — (34,675 ) Subordinated Negotiable Obligations (16,044 ) — — (16,044 ) Provisions (148,504 ) 148,504 — — Other Non-financial Liabilities (18,177 ) 17,769 — (408 ) Foreign Currency Exchange Differences (4,016 ) 1,591 — (2,425 ) Inflation adjustment deferral — (3,816 ) — (3,816 ) Others (1,099 ) 696 — (403 ) Totals (14,606,832 ) (936,672 ) — (15,543,504 ) Net deferred tax liabilities in subsidiaries with net asset position 11,586,278 3,820,292 — 15,406,570 Deferred tax liabilities (3,020,554 ) 2,883,620 — (136,934 ) Deferred Tax Assets Item 12.31.18 Charge to Income Others 12.31.19 Valuation of Securities 1,946 50,636 (1,353 ) 51,229 Loans and Other Financing 6,083,246 (1,804,455 ) — 4,278,791 Tax Loss Carryforwards 8,060 58,555 — 66,615 Other Non-financial Assets 71,195 (55,732 ) — 15,463 Non-current Assets Held for Sale 1,743 (1,743 ) — — Allowance for Impairment 52,378 (42,837 ) — 9,541 Provisions 925,174 1,440,177 — 2,365,351 Other Non-financial Liabilities 886,431 (270,013 ) — 616,418 Foreign Currency Exchange Differences 10,987 (10,987 ) — — Inflation adjustment deferral — 7,914,417 — 7,914,417 Others 47,949 41,882 — 89,831 Totals 8,089,109 7,319,900 (1,353 ) 15,407,656 Net deferred tax assets in subsidiaries with net liability position (6,051,423 ) (5,534,855 ) — (11,586,278 ) Deferred tax assets 2,037,686 1,785,045 (1,353 ) 3,821,378 Deferred Tax Liabilities Item 12.31.18 Charge to Income Others 12.31.19 Valuation of Securities (263,623 ) 235,040 — (28,583 ) Other Financial Assets (103,444 ) 32,407 — (71,037 ) Loans and Other Financing (20,712 ) 20,712 — — Property, Plant and Equipment (8,260,698 ) (2,083,039 ) — (10,343,737 ) Intangible Assets (367,136 ) (628,256 ) — (995,392 ) Other Non-financial Assets (791,093 ) (52,373 ) — (843,466 ) Non-current Assets Held for Sale — (2,102,102 ) — (2,102,102 ) Other Financial Liabilities (33,364 ) (1,311 ) — (34,675 ) Subordinated Negotiable Obligations (36,853 ) 20,809 — (16,044 ) Provisions — (148,504 ) — (148,504 ) Other Non-financial Liabilities — (18,177 ) — (18,177 ) Foreign Currency Exchange Differences — (4,016 ) — (4,016 ) Others (161,278 ) 160,179 — (1,099 ) Totals (10,038,201 ) (4,568,631 ) — (14,606,832 ) Net deferred tax liabilities in subsidiaries with net asset position 6,051,423 5,534,855 — 11,586,278 Deferred tax liabilities (3,986,778 ) 966,224 — (3,020,554 ) |
Summary of Changes in Deferred Income Tax Assets and Liabilities | In addition, the expiration dates of tax loss carryforwards are as follows: Year of Generation Amount Year Deferred Tax Assets 2018 26,865 2023 8,060 2019 195,185 2024 58,555 2020 820,580 2025 246,174 312,789 |
Assets_Liabilities for Insura_2
Assets/Liabilities for Insurance Contracts (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Assets Related to Insurance Contracts | Assets related to insurance contracts as of the indicated dates are detailed as follows: Assets from Insurance Contracts 12.31.20 12.31.19 Premiums Receivable 1,857,975 1,576,061 Credits with Reinsurers 1,996 873 Fees Receivables 7,770 5,056 Others 17,649 26,527 Total 1,885,390 1,608,517 |
Liabilities Related to Insurance Contracts | Liabilities related to insurance contracts as of the indicated dates are detailed as follows: Liabilities from Insurance Contracts 12.31.20 12.31.19 Debts with Insured Persons 535,743 813,836 Debts with Reinsurers 20,829 4,561 Debts with Co-insurers 1,525 1,999 Debts with Producers 371,664 411,691 Technical Commitments 1,114,124 1,112,838 Others 55,744 — Pending Claims in charge of Reinsures (38,653 ) (345,517 ) Total 2,060,976 1,999,408 |
Summary of Debts with Insureds | Debts with Insured Persons 12.31.20 12.31.19 Property & Casualty Insurance 245,028 539,816 Direct Administrative Insurance 135,738 436,307 Direct Insurance in Lawsuits 5,204 15,323 Direct Insurance in Mediation 1,957 2,184 Settled Claims Payable 5,802 7,635 Pending Claims, Active Reinsurance and Retrocession 3,348 2,868 Claims Incurred but not Reported (IBNR) 92,979 75,499 Life Insurance 290,715 273,773 Direct Administrative Insurance 223,359 239,264 Direct Insurance in Lawsuits 12,448 7,519 Direct Insurance in Mediation 7,988 8,901 Settled Claims Payable 26,487 568 Pending Claims, Active Reinsurance and Retrocession 11,949 9,394 Claims Incurred but not Reported (IBNR) 7,898 7,979 Redemptions Payable 586 148 Creditors for Premiums to be Refunded — — Retirement Insurance — 247 Annuities Payable in Arrears — 11 Others — 236 Total 535,743 813,836 |
Summary of Net Gross and Reinsurers Share for Amounts Arising from Insurance Contracts | Debt with Reinsurers and Coinsurance Current Account Reinstatement Premiums Minimum Deposit Premium to Be Accrued Deposits Collateral Unpaid Losses to Be Borne by Reinsurers Total Debts with Reinsurers 52,563 — (31,734 ) — (38,653 ) (17,824 ) IBNR in charge of Reinsurers — — — — — — Debts with Co-insurers 1,525 — — — — 1,525 Total as of 12.31.20 54,088 — (31,734 ) — (38,653 ) (16,299 ) Total as of 12.31.19 30,624 — (24,064 ) — (345,517 ) (338,957 ) |
Summary of debts with producers | Debts with Producers 12.31.20 12.31.19 Checking Account—Producers 61,232 110,950 Fees for Premiums Receivable 291,724 259,132 Production Expenses Payable 18,708 41,609 Others — — Total 371,664 411,691 |
Summary of Technical Commitments | Technical Commitments 12.31.20 12.31.19 Ongoing and Similar Risk 610,475 610,592 Premiums and Surcharges 567,071 591,720 Premiums on Passive Reinsurance (13,979 ) (19,727 ) Active Reinsurance 57,383 38,472 Insufficient Premiums — 127 Mathematical Reserves 503,649 502,246 Mathematical Reserves for Individual Life Insurance 154,345 157,074 Mathematical Reserves for Individual Retirement Insurance 113,185 92,209 Mathematical Reserves of Life Annuities 153,435 183,800 Provision for the Mathematical Reserve Recomposition 14 38 Fluctuation Funds 82,670 69,125 Total 1,114,124 1,112,838 |
Summary of Assumption Used for Current Estimates of Future Cash Flows Derived from Insurance Contract | Insurance liabilities were recorded according to the liability adequacy test, using the current estimates of future cash flows derived from insurance contracts. The assumptions used are as follows: 12.31.20 12.31.19 Mortality Table GAM 94 GAM 94 Investment (Discount) Rate Products in USD: 14.77% annually 2.74% Products in Ps.: 7.85% annually Life Insurance Reference Rate 75% of the projection of the BADLAR rate starting from 34.22% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. Projection of Life Insurance Reference Rate based on CER proportion, starting from 1.19% for voluntary retirement, and 0.88% for Annuities. Administrative Expenses 422.18 for voluntary retirement and 2640.45 for annuities 453 for voluntary retirement and 620 for annuities |
Other Non-financial Assets (Tab
Other Non-financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Other Non-financial Assets | “Other Non-financial Assets” break down as follows: 12.31.20 12.31.19 Payments on behalf of third parties 446,038 380,239 Advances of fee to Directors and Syndics 10,049 6,213 Advance to Personnel 3,558 2,810 Tax Credits 2,208,858 655,859 Payments made in Advance 2,331,734 1,320,929 Advances for Purchase of Assets 487,578 4,032,303 Investment properties (*) 580,667 593,290 Other Sundry Assets Measured at Cost 1,227,359 1,397,084 Assets Taken in Defense of Credits 5,176 5,176 Others 333,410 389,085 Total 7,634,427 8,782,988 (*) Changes in “Investment Properties” are detailed in Schedule F. |
Non-current Assets Held for S_2
Non-current Assets Held for Sale and Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Classification of Assets as Assets Held for Sale and Discontinued Operations | The Group has classified the following assets as “Assets Held for Sale and Discontinued Operations”: 12.31.20 12.31.19 Property, Plant and Equipment Real Estate 29,328 53,106 Total 29,328 53,106 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Deposits | Deposits break down as follows as of the indicated dates: 12.31.20 12.31.19 In Pesos 510,134,336 341,083,760 Checking Accounts 105,026,914 91,984,479 Savings Accounts 182,972,227 80,995,302 Time Deposits 208,712,623 157,927,791 Time Deposits – UVA 5,565,347 1,021,392 Others 1,980,204 2,309,871 Interest and Adjustments 5,877,021 6,844,925 In Foreign Currency 166,261,399 194,949,936 Checking Accounts — — Savings Accounts 134,011,633 160,463,701 Time Deposits 31,133,525 33,122,492 Others 1,023,311 1,277,254 Interest and Adjustments 92,930 86,489 Total 676,395,735 536,033,696 |
Other Financial Liabilities (Ta
Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Other Financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Creditors for Purchase to be Settled 340,249 76,689 Collections and Other Transactions on Behalf of Third Parties 11,041,676 15,977,376 Obligations for Purchase Financing 74,952,107 65,393,841 Creditors for Purchase of Foreign Currency to be Settled 506,226 2,237,420 Accrued Fees Payable 608,453 691,386 Sundry Items Subject to Minimum Cash 1,249,817 881,007 Sundry Items not Subject to Minimum Cash 3,732,783 5,596,529 Lease Liabilities 4,363,406 5,129,987 Other Financial Liabilities 676,748 1,169,389 Total 97,471,465 97,153,624 |
Loans from the Argentine Cent_2
Loans from the Argentine Central Bank and Other Financial Institutions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Loans from the Argentina Central Bank and Other Financial Institutions | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Argentine Central Bank Financing 21,368 30,562 Correspondents 1,927,341 509,031 Financing from Local Financial Institutions 7,036,375 7,621,082 Financing from Foreign Financial Institutions — 14,253,902 Financing from International Financial Institutions 4,848,355 8,521,584 Total 13,833,439 30,936,161 |
Schedule of Credit Lines with Local and International Financial Institutions and Entities | The following table details the credit lines with local and international financial institutions and entities as of the indicated dates: Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.20 (**) Local Institutions 7,057,743 BICE Sundry Dates Ps. 1,655 days 30.7 Sundry Dates 1,330,193 BICE Sundry Dates USD 1,705 days 4.3 Sundry Dates 1,835,023 Agreements with Banks (1) 12.14.20 Ps. 365 days 40.8 12.14.21 3,661,158 Call Taken 12.30.20 Ps. 5 days 29 01.04.21 210,000 Argentine Central Bank 12.30.20 Ps. 5 days — 04.01.21 21,368 Other Lines (2) Sundry Dates Ps. 11 days 48.1 11.01.21 1 International Institutions 6,775,696 Correspondents 12.30.20 USD 5 days — 11.04.21 1,927,341 IFC Sundry Dates USD 1,552 days 3.2 Sundry Dates 4,848,355 Total 13,833,439 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Ecosistema NaranjaX companies’ credit lines. (2) Relates to subsidiaries’ credit lines. Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.19 (**) Local Institutions 7,651,644 BICE Sundry Dates Ps. 1,778 days 47 Sundry Dates 2,642,859 BICE Sundry Dates USD 1,762 days 5.8 Sundry Dates 1,208,875 Call Taken 12.30.19 Ps. 3 days 41.6 01.02.20 682,064 Argentine Central Bank 12.30.19 Ps. 3 days — 02.01.20 30,562 Other Lines (1) Sundry Dates Ps. 364 days 53.9 Sundry Dates 3,087,284 International Institutions 23,284,517 Correspondents 12.31.19 USD 2 days — 02.01.20 509,031 IFC Sundry Dates USD 1,355 days 4.74 Sundry dates 8,521,584 Prefinancing (2) Sundry Dates USD 167 days 6.03 Sundry dates 13,572,955 IDB Sundry Dates USD 361 days 5.73 Sundry dates 680,947 Total 30,936,161 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Ecosistema NaranjaX companies’ credit lines. |
Debt Securities (Tables)
Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Breakdown of the Global Programs for the Issuance of Debt Securities outstanding | The following is a breakdown of the Global Programs for the Issuance of Debt securities outstanding: Company Authorized Amount (*) Type of Debt Securities Program Approval Date Shareholders’ Meeting CNV Approval Grupo Financiero Galicia S.A. USD 100,000 Simple debt securities not convertible into shares 5 years 03.09.09 Resolution No. 16113 dated 04.29.09 and extended by Resolution No. 17343 dated 05.08.14 and Provision No. DI-2019-63-APN-GE#CNV dated 08.06.19. Authorization of Increase, Resolution No. 17,064 dated 04.25.13 Banco de Galicia y Buenos Aires S.A.U. USD 2,100,000 Simple debt securities, not convertible into shares, subordinated or not, to be adjusted or not, secured or unsecured. 5 years 04.28.05, Resolution No. 15228 dated 11.04.05 and extended through Resolution No. 16454 dated 11.11.10 and Resolution No. 17883 dated 11.20.15 and Resolution No. DI-2020-53-APN-GE#CNV dated 11.24.20. Increase of the amount approved by Resolutions No. 17883 dated 11.20.15, No. 18081 dated 06.10.16, No. 18480 dated 01.26.17 and No. 19520 dated 05.17.18 Banco de Galicia y Buenos Aires S.A.U. USD 2,100,000 Simple debt securities not convertible into shares - 04.25.19 Frequent Issuer Registration No. 11, granted by Resolution No. RESCFC-2019-2055-APN-DIR#CNV, dated 11/13/19 of CNV´s Board of Directors Tarjeta Naranja S.A. USD 1.000.000 Simple debt securities, not convertible into shares 5 years 03.08.12 Resolution No. 15220 dated 07.14.05 and extended through Resolution No. 17676 dated 05.21.15 and No. DI2020-20-APNGE#CNV dated 03.18.20. Increase of the amount approved by Resolutions No. 15.361 dated 03.23.06, 15.785 dated 11.16.07, 16.571 dated 05.24.11, 16.822 dated 05.23.12 and 19.508 dated 05.10.18 Tarjetas Cuyanas S.A. USD 250,000 Simple debt securities, not convertible into shares 5 years 03.30.10 Resolution No. 16328 dated 05.18.10. Increase of the amount approved by Resolution No. 17072 dated 05.02.13 (*) Or its equivalent in any other currency. |
Summary of Unsubordinated Debt Securities Outstanding Issued Under the Global Programs | The Company has the following Unsubordinated Debt securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2020, net of repurchases of Own Debt: Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.20 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 2,032,833 Simple 36 Months 04.26.21 Badlar + 3.50% 04.18.18 1,732,315 Banco de Galicia y Buenos Aires S.A.U. 11.20.20 Ps. VIII (1) 1,589,722 Simple 9 Months 08.20.21 Badlar + 04.20.20 1,255,566 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 2,644,989 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 3,574,897 Simple 549 days 01.08.22 Badlar + 4% 06.30.20 3,609,011 Tarjeta Naranja S.A. 12.18.20 Ps. XLV 3,057,000 Simple 365 days 12.18.21 Badlar + 5% 12.14.20 2,641,113 Tarjeta Naranja S.A. (***) 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 362,247 Total 12,245,241 (*) It includes principal and interest. (**) Not convertible into shares. (***) Negotiable Obligations merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. (1) Issued under the Frequent Issuer Regime. On June 21, 2018, Banco de Galicia y Buenos Aires S.A.U. issued the “Green Bond” which was entirely acquired by the International Finance Corporation. The Green Bond is a 7-year facility, with interest payable every six months. The Green Bond has a 36-month grace period in respect of the repayment of principal, followed by payments in 9 installments due every six months. As of December 31, 2020, the carrying amount of the Green Bond totals Ps.4,828,657, and it amounted to Ps.8,399,358 as of December 31, 2019. The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2019 , net of repurchases of Own Debt: Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.19 Banco de Galicia y Buenos Aires S.A.U. 02.17.17 Ps. III USD150,537 Simple 36 Months 02.17.20 Badlar + 02.06.17 1,443,765 Banco de Galicia y Buenos Aires S.A.U. 05.18.17 Ps. IV 2,000,000 Simple 36 Months 05.18.20 Badlar + 05.08.17 2,357,013 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 4,209,250 Simple 24 Months 04.26.20 Fixed 04.18.18 5,265,353 Banco de Galicia y Buenos Aires S.A.U. 04.26.18 Ps. V Series 2,032,833 Simple 36 Months 04.26.21 Badlar + 04.18.18 2,454,067 Banco de Galicia y Buenos Aires S.A.U. 11.25.19 Ps. VII (2) 4,182,280 Simple 6 Months 05.25.20 Badlar + 11.13.19 5,815,305 Tarjeta Naranja S.A. 06.29.16 Ps. XXXIV 475,397 Simple 1,461 06.29.20 Minimum 06.21.16 538,916 Tarjeta Naranja S.A. 09.27.16 Ps. XXXV 774,389 Simple 1,461 09.27.20 Minimum 09.15.16 891,958 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 5,911,129 Tarjeta Naranja S.A. 04.10.18 Ps. XL 1,402,500 Simple 914 days 10.10.20 Minimum 03.27.18 1,992,957 Tarjeta Naranja S.A. 11.15.18 Ps. XLI 343,555 Simple 547 days 05.15.20 Badlar + 11.07.18 478,609 Tarjeta Naranja S.A. 02.19.19 Ps. XLIII 1,583,895 Simple 547 days 08.18.20 Badlar + 02.07.19 2,018,633 Tarjeta Naranja S.A. (***) 07.26.16 Ps. XXV 400,000 Simple 1,461 07.26.20 Minimum 07.13.16 577,248 Tarjeta Naranja S.A. (***) 10.24.16 Ps. XXVI 350,237 Simple 1,461 10.24.20 Minimum 10.14.16 507,796 Tarjeta Naranja S.A. (***) 02.10.17 Ps. XXVII 500,000 Simple 1,095 02.10.20 Minimum 02.02.17 647,663 Tarjeta Naranja S.A. (***) 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 508,896 Total 31,409,308 (*) It includes principal and interest. (**) Not convertible into shares. (***) Negotiable Obligations merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. (1) In accordance with the issuance conditions, they were converted into Ps. 2,360,360. The foreign exchange risk is assumed by the investor because the services of interest and principal are calculated based on the amount of principal in Argentine pesos and converted into payments in US dollars on each payment date. (2) Issued under the Frequent Issuer Regime. |
Summary of Repurchases of Own Debt Securities | The repurchases of Own Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of 12.31.20 Book Value (*) 12.31.20 Banco de Galicia y Buenos Aires S.A.U. V Serie II 5,000 5,330 Banco de Galicia y Buenos Aires S.A.U. VIII 79,000 82,207 Tarjeta Naranja S.A. XXXVII 9,620 106,451 Tarjeta Naranja S.A. XLIV 235,000 252,052 Tarjeta Naranja S.A. XLV 440,000 443,520 Tarjeta Naranja S.A. (**) XXVIII Serie II 18,889 19,398 Total 908,958 (*) It includes principal and interest. (**) Debt securities merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. Company ON Class Nominal Value as of 12.31.19 Book Value (*) of 12.31.19 Banco de Galicia y Buenos Aires S.A.U. V Series II 5,000 7,330 Tarjeta Naranja S.A. XXXV Series II 38,500 50,473 Tarjeta Naranja S.A. XXXVII 1,468 34,075 Tarjeta Naranja S.A. XL Series II 34,500 43,535 Tarjeta Naranja S.A. XLI Series II 15,000 21,716 Tarjeta Naranja S.A. XLIII 16,500 18,239 Tarjeta Naranja S.A. (**) XXV 8,000 11,319 Tarjeta Naranja S.A. (**) XXVI Series II 10,000 15,351 Tarjeta Naranja S.A. (**) XXVII Series II 17,442 25,330 Tarjeta Naranja S.A. (**) XXVIII Series II 8,254 11,535 Total 238,903 (*) It includes principal and interest. (**) Debt securities merged into by Tarjeta Naranja S.A. following its merger with Tarjetas Cuyanas S.A. |
Subordinated Debt Securities (T
Subordinated Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Subordinated Debt Securities Not Convertible Into Shares Issued Under Global Programs | The Company has the following subordinated debt securities not convertible into shares issued under the Global Programs detailed in Note 27 as of the close of the fiscal year: Company Placement Date Currency ON Class Nominal Value Term Maturity Date Rate Issuance Authorized by the CNV Book Value as of 12.31.20 (*) Banco de Galicia y Bs. As. S.A.U. 07.19.16 USD II USD250,000 120 months (1) 07.19.26 (2 ) 06.23.16 21,653,546 (*) It includes principal and interest. (1) Amortization shall be fully made upon maturity, on July 19, 2026, unless redeemed, at the issuer’s option, fully at a price equal to 100% of the outstanding principal plus accrued and unpaid interest. (2) Fixed 8.25% rate p.a. (as from the issuance date to July 19, 2021, inclusively); and margin to be added to the nominal Benchmark Readjustment Rate of 7.156% p.a. to the due date of Debt securities. Such interest shall be payable semiannually on January 19 and July 19 as from 2017. Company Placement Date Currency ON Class Nominal Value Term Maturity Date Rate Issuance Authorized by the CNV Book Value as of 12.31.19 (*) Banco de Galicia y Bs. As. S.A.U. 07.19.16 USD II USD250,000 120 months (1) 07.19.26 (2 ) 06.23.16 21,100,718 (*) It includes principal and interest. (1) Amortization shall be fully made upon maturity, on July 19, 2026, unless redeemed, at the issuer’s option, fully at a price equal to 100% of the outstanding principal plus accrued and unpaid interest. (2) Fixed 8.25% rate p.a. (as from the issuance date to July 19, 2021, inclusively); and margin to be added to the nominal Benchmark Readjustment Rate of 7.156% p.a. to the due date of Debt securities. Such interest shall be payable semiannually on January 19 and July 19 as from 2017. |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Provisions | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 For Administrative, Disciplinary and Criminal Penalties 5,306 7,224 For Termination Benefits 220,824 233,287 Others 3,550,167 3,499,223 Total 3,776,297 3,739,734 |
Other Non-financial Liabiliti_2
Other Non-financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Other Non-financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 Creditors for sale of assets 594,481 601,965 Tax withholdings and collections payable 6,755,148 5,193,979 Payroll and Social Contributions Payable 7,057,226 6,446,491 Withholdings on Payroll Payable 371,236 366,972 Fess to Directors and Syndics 221,520 96,834 Value-Added Tax 851,232 867,885 Sundry Creditors 4,447,128 4,097,837 Taxes Payable 3,270,895 3,600,729 Obligations Arising from Contracts with Customers 1,348,700 1,654,612 Retirement payment orders pending settlement 90,588 100,941 Other Non-financial Liabilities 250,074 211,082 Total 25,258,228 23,239,327 |
Summary of Estimated Use of Liability | The following table shows the estimated use of the liabilities recorded as of this fiscal year-end. Terms Item Up to 12 Months Up to 24 Months Over 24 Months Total Liabilities – “ Quiero 632,815 271,377 210,402 1,114,594 |
Exchange Rate Differences on _2
Exchange Rate Differences on Gold and Foreign Currency (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Exchange rate differences on gold and foreign currency | The account breaks down as follows as of the indicated dates: Arising from: 12.31.20 12.31.19 12.31.18 For Purchase sale of foreign currency 5,958,974 17,214,089 12,543,415 For Valuation of Assets and Liabilities in Foreign Currency 1,088,473 (5,382,637 ) (4,633,158 ) Total 7,047,447 11,831,452 7,910,257 |
Other Operating Income (Tables)
Other Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Other Operating Income | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Fees for Product Package 6,296,738 5,684,656 5,719,226 Other Adjustments and Interest on sundry Credits 5,246,030 3,110,290 3,349,720 Rental of Safety Deposit Boxes 1,295,199 1,010,452 1,080,908 Other Financial Income 579,211 1,577,962 353,035 Other Income from Services 4,237,539 3,341,244 6,176,597 Income for sale of non-currents assets held for sale (1) — 9,676,346 1,027,022 Others 4,667,914 4,368,482 4,156,472 Total 22,322,631 28,769,432 21,862,980 (1) Includes the profit on sale of the interest in Prisma Medios de Pago S.A. See Note 14. |
Underwriting Income from Insu_2
Underwriting Income from Insurance Business (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Underwriting Income from Insurance Business | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Premiums and Surcharges Accrued 7,789,375 7,607,216 9,816,413 Claims Accrued (1,126,864 ) (1,052,763 ) (1,122,301 ) Redemptions (16,844 ) (18,273 ) (12,084 ) Fixed and Periodic Annuities (13,588 ) (15,758 ) (17,887 ) Production and Operating Expenses (1,064,782 ) (1,515,532 ) (2,691,169 ) Other Income and Expenses (65,490 ) (4,021 ) 36,195 Total 5,501,807 5,000,869 6,009,167 |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Personnel Expenses | The following are the items included in the account as of the indicated dates: 12.31.20 12.31.19 12.31.18 Payroll 19,789,826 20,504,481 24,414,768 Social Contributions on Payroll 4,553,002 4,500,774 3,592,936 Personnel Compensations and Rewards 5,811,760 6,424,341 5,717,492 Services for Personnel 765,223 972,727 1,128,695 Other Short-term Personnel Expenses 781,545 746,668 687,034 Other Long-term Personnel Expenses 123,745 135,970 116,861 Total 31,825,101 33,284,961 35,657,786 |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Expenses by Nature and Function | The table below provides the required additional information about expenses by nature and function as of the indicated dates: 12.31.20 12.31.19 12.31.18 Fees and Remunerations for Services 2,722,767 3,980,217 2,547,784 Directors’ and Syndics’ Fees 472,614 222,405 364,805 Advertising and Publicity 1,742,441 2,959,534 2,676,622 Taxes 7,362,438 7,051,537 7,056,470 Maintenance and Repairs of Assets and Systems 5,295,507 4,911,367 2,964,636 Electricity and Communications 2,371,181 2,484,059 2,013,488 Representation and Travel Expenses 58,367 172,242 214,300 Stationery and Office Supplies 419,380 513,980 441,083 Rentals 308,848 135,793 1,730,626 Administrative Services under Contract 4,230,573 3,369,599 2,709,994 Security 1,162,314 1,332,404 1,169,699 Insurance 251,297 179,940 951,802 Armored Transportation Services 1,559,087 2,803,034 2,367,736 Others 3,414,808 2,989,088 6,465,260 Total 31,371,622 33,105,199 33,674,305 |
Depreciation and Impairment o_2
Depreciation and Impairment of Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Depreciation and Impairment of Assets | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Depreciation of Property, Plant and Equipment 5,173,340 4,979,957 2,336,535 Amortization of Organization and Development Expenses 2,989,613 1,909,413 1,117,154 Others 121,333 5,574 6,015 Total 8,284,286 6,894,944 3,459,704 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Other Operating Expenses | The account breaks down as follows as of the indicated dates: 12.31.20 12.31.19 12.31.18 Turnover Tax 15,662,817 17,813,939 18,110,558 Contributions to the Deposit Insurance Scheme 1,059,292 1,175,021 1,069,850 Charges for Other Provisions 2,868,794 2,314,952 2,211,921 Claims 375,311 457,762 650,078 Other Financial Expenses 286,002 2,498,764 1,144,612 Interest on leases 398,850 511,138 - Credit-card-relates expenses 4,486,875 6,046,394 6,161,264 Other Expenses from Services 3,920,476 2,978,819 4,455,969 Others 1,705,344 1,286,029 1,587,179 Total 30,763,761 35,082,818 35,391,431 |
Income Tax_Deferred Tax (Tables
Income Tax/Deferred Tax (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Reconciliation of Income Tax Charged to Income | The following is a reconciliation of income tax charged to income as of December 31, 2020, as compared to the previous fiscal year: 12.31.20 12.31.19 12.31.18 Income Before Income Tax for the Year 43,022,883 51,046,575 6,339,833 Current Tax Rate 30 % 30 % 30 % Income for the Year at Tax Rate (12,906,866 ) (15,313,973 ) (1,901,950 ) Permanent Differences at Tax Rate - Income for Equity Instruments (37,516 ) - 434,390 - Untaxed Income 166,909 130,190 378,202 - Donations and Other Non-deductible Expenses (32,018 ) (21,627 ) (138,057 ) - Other (3,001,548 ) (83,089 ) (851,579 ) - Allowance for Impairment - - (3,954 ) - Inflation effect (10,569,560 ) (12,260,928 ) (13,426,074 ) - Tax Adjustment under Law 27430 695,456 (116,806 ) 965,898 - Tax inflation adjustment 2,895,013 1,680,922 - - Tax inflation adjustment deferral 5,090,717 7,914,419 - Total Income Tax Charge for the Year (17,699,413 ) (18,070,892 ) (14,543,124 ) |
Summary of Current Income Tax Liabilities | 12.31.20 12.31.19 12.31.18 Current Income Tax (26,644,905 ) (20,759,986 ) (14,495,373 ) Deferred Tax Charge (*) 8,274,837 2,751,269 831,822 Allowance for Impairment (*) — — (3,954 ) Tax Return adjustment from previous fiscal year 670,655 (62,175 ) (172,442 ) Law 27430 adjustment — — (703,177 ) Total Income Tax Charge for the Year (17,699,413 ) (18,070,892 ) (14,543,124 ) 12.31.20 12.31.19 12.31.18 Current Income Tax (26,644,905 ) (20,759,986 ) (14,495,373 ) Tax Advances 11,417,431 6,717,751 7,254,160 Current Income Tax Liabilities (15,227,474 ) (14,042,235 ) (7,241,213 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Earnings Per Share | 12.31.20 12.31.19 12.31.18 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 25,191,673 32,276,377 (7,258,414 ) Weighted Average Ordinary Shares 1,442,740 1,426,765 1,426,765 Earnings per Share 17.46 22.62 (5.09 ) |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Summary of Operating Segments | The relevant segment reporting as of the indicated dates is as follows: Banks Ecosistema Insurance Other Adjustments Total as of 12.31.20 Net Income from interest 58,831,043 16,840,974 726,890 6,846 226,467 76,632,220 Net fee Income 20,979,744 16,669,667 — (6,111 ) (1,085,741 ) 36,557,559 Net Income from Financial Instruments measured at fair value through Profit or Loss 65,986,310 1,989,036 77,616 1,279,844 (904 ) 69,331,902 Income from Derecognition of Assets Measured at Amortized Cost (3,129 ) — — — — (3,129 ) Exchange rate Differences on Gold and Foreign Currency 6,024,766 370,320 (27,351 ) 679,712 — 7,047,447 Other Operating Income 17,172,602 3,474,652 504,655 2,364,197 (1,193,475 ) 22,322,631 Income from Insurance Business — — 3,496,191 — 2,005,616 5,501,807 Loan and other Receivables Loss Provisions (29,971,572 ) (4,724,863 ) 16,686 — — (34,679,749 ) Personnel Expenses (22,089,728 ) (8,079,947 ) (1,217,560 ) (437,866 ) — (31,825,101 ) Administrative Expenses (21,429,312 ) (8,678,399 ) (656,618 ) (728,295 ) 121,002 (31,371,622 ) Depreciation and Impairment of Assets (6,116,752 ) (1,868,167 ) (270,398 ) (28,969 ) — (8,284,286 ) Other Operating Expenses (23,844,607 ) (6,669,879 ) (4,357 ) (259,377 ) 14,459 (30,763,761 ) Loss on net monetary position (30,367,677 ) (4,918,855 ) (815,279 ) (861,402 ) — (36,963,213 ) Operating Income 35,171,688 4,404,539 1,830,475 2,008,579 87,424 43,502,705 Share of profit from Associates and Joint Ventures 33,214 — — — (158,267 ) (125,053 ) Income before Taxes from Continuing Operations 35,204,902 4,404,539 1,830,475 2,008,579 (70,843 ) 43,377,652 Income Tax from Continuing Operations (14,276,569 ) (2,245,164 ) (512,214 ) (810,925 ) — (17,844,872 ) Net Income / (Loss) from Continuing Operations 20,928,333 2,159,375 1,318,261 1,197,654 (70,843 ) 25,532,780 Net Income / (Loss) for the Year 20,928,333 2,159,375 1,318,261 1,197,654 (70,843 ) 25,532,780 Other Comprehensive Income (Loss) (206,818 ) 210 (2,861 ) 159 — (209,310 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 20,721,515 2,160,262 1,315,400 1,197,813 (412,627 ) 24,982,363 Net Income for the Year Attributable to Non-controlling Interests — (677 ) — — 341,784 341,107 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.19 Net Income from interest 32,442,139 13,268,259 1,144,609 72,097 490,269 47,417,373 Net fee Income 21,760,110 17,674,484 — 494 (1,201,852 ) 38,233,236 Net Income from Financial Instruments measured at fair value through Profit or Loss 95,152,485 3,505,253 97,496 396,262 — 99,151,496 Income from Derecognition of Assets Measured at Amortized Cost 298,801 — — — — 298,801 Exchange rate Differences on Gold and Foreign Currency 11,298,851 165,900 (3,767 ) 370,468 — 11,831,452 Other Operating Income 23,726,714 4,921,986 538,849 1,158,077 (1,576,194 ) 28,769,432 Income from Insurance Business — — 2,611,331 — 2,389,538 5,000,869 Loan and other Receivables Loss Provisions (22,228,541 ) (8,088,703 ) 89,576 — — (30,227,668 ) Personnel Expenses (24,303,615 ) (7,543,907 ) (1,109,048 ) (328,391 ) — (33,284,961 ) Administrative Expenses (23,885,413 ) (8,247,798 ) (711,576 ) (434,955 ) 174,543 (33,105,199 ) Depreciation and Impairment of Assets (5,021,671 ) (1,558,316 ) (291,429 ) (23,528 ) — (6,894,944 ) Other Operating Expenses (28,555,476 ) (6,378,283 ) (501 ) (157,840 ) 9,282 (35,082,818 ) Loss on net monetary position (33,702,521 ) (6,306,209 ) (1,035,951 ) (884,221 ) — (41,928,902 ) Operating Income 46,981,863 1,412,666 1,329,589 168,463 285,586 50,178,167 Share of profit from Associates and Joint Ventures 78,244 — — — (78,244 ) — Income before Taxes from Continuing Operations 47,060,107 1,412,666 1,329,589 168,463 207,342 50,178,167 Income Tax from Continuing Operations (16,723,744 ) (523,435 ) (466,721 ) (36,782 ) — (17,750,682 ) Net Income / (Loss) from Continuing Operations 30,336,363 889,231 862,868 131,681 207,342 32,427,485 Net Income / (Loss) for the Year 30,336,363 889,231 862,868 131,681 207,342 32,427,485 Other Comprehensive Income (Loss) 562,786 — (14,588 ) — — 548,198 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 30,899,149 888,870 848,280 131,681 56,595 32,824,575 Net Income for the Year Attributable to Non-controlling Interests — 361 — — 150,747 151,108 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.18 Net Income from interest 49,448,811 19,221,483 886,426 257,238 58,588 69,872,546 Net fee Income 26,131,171 18,702,137 — (4,995 ) (71,981 ) 44,756,332 Net Income from Financial Instruments measured at fair value through Profit or Loss 33,481,710 1,853,832 45,655 960,312 — 36,341,509 Income from Derecognition of Assets Measured at Amortized Cost 464,175 — — — — 464,175 Exchange rate Differences on Gold and Foreign Currency 7,726,274 (106,375 ) 8,668 281,690 — 7,910,257 Other Operating Income 14,553,653 7,711,474 343,021 1,937,686 (2,682,854 ) 21,862,980 Income from Insurance Business — — 3,376,653 — 2,632,514 6,009,167 Loan and other Receivables Loss Provisions (22,770,955 ) (11,202,106 ) (163,186 ) — — (34,136,247 ) Personnel Expenses (24,154,702 ) (10,034,170 ) (1,203,784 ) (265,130 ) — (35,657,786 ) Administrative Expenses (21,900,686 ) (10,377,775 ) (855,854 ) (604,877 ) 64,887 (33,674,305 ) Depreciation and Impairment of Assets (2,134,670 ) (1,117,648 ) (191,572 ) (15,814 ) — (3,459,704 ) Other Operating Expenses (26,853,098 ) (8,386,926 ) (842 ) (150,565 ) — (35,391,431 ) Loss on net monetary position (27,237,770 ) (8,051,841 ) (1,173,907 ) (1,366,921 ) — (37,830,439 ) Operating Income 6,753,913 (1,787,915 ) 1,071,278 1,028,624 1,154 7,067,054 Share of profit from Associates and Joint Ventures 39,842 — — — (39,842 ) — Income before Taxes from Continuing Operations 6,793,755 (1,787,915 ) 1,071,278 1,028,624 (38,688 ) 7,067,054 Income Tax from Continuing Operations (10,491,620 ) (2,693,213 ) (648,744 ) (643,211 ) — (14,476,788 ) Net Income / (Loss) from Continuing Operations (3,697,865 ) (4,481,128 ) 422,534 385,413 (38,688 ) (7,409,734 ) Loss from Discontinued Operations (526,463 ) — — (17,540 ) — (544,003 ) Income Tax from Discontinued Operations (63,469 ) — — (2,867 ) — (66,336 ) Net Income / (Loss) for the Year (4,287,797 ) (4,481,128 ) 422,534 365,006 (38,688 ) (8,020,073 ) Other Comprehensive Income (Loss) (161,113 ) — (22,105 ) — — (183,218 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners (4,448,910 ) (4,480,349 ) 400,429 365,006 722,192 (7,441,632 ) Net Income for the Year Attributable to Non-controlling Interests — (779 ) — — (760,880 ) (761,659 ) Banks Ecosistema Insurance Other Adjustments Total as of 12.31.20 ASSETS Cash and Due from Banks 172,308,807 2,188,741 39,612 2,278,879 (1,392,563 ) 175,423,476 Debt Securities at fair value through profit or loss 155,892,300 91,762 — 173,800 (738,302 ) 155,419,560 Derivative Financial Instruments 2,165,032 — — — — 2,165,032 Repurchase Transactions 60,995,643 — — — — 60,995,643 Other Financial Assets 6,920,271 1,281,954 815,104 1,077,956 (1,659 ) 10,093,626 Loans and Other Financing 439,306,303 88,545,787 473,165 1,463,755 (3,354,891 ) 526,434,119 Other Debt Securities 21,448,751 174,456 1,617,826 — (170,656 ) 23,070,377 Financial Assets Pledged as Collateral 18,639,697 9,126 — 68,620 — 18,717,443 Current Income Tax Assets — 36,242 160,852 — — 197,094 Investments in Equity Instruments 5,709,565 — — 2,119 — 5,711,684 Equity Investments in Associates and Joint Ventures 480,530 — — — (391,388 ) 89,142 Property, Plant and Equipment 38,189,687 4,859,111 646,688 35,934 — 43,731,420 Intangible Assets 12,850,061 1,534,001 73,415 4,436,289 (4,424,945 ) 14,468,821 Deferred Income Tax Assets 5,300,716 3,625,102 176,642 110,135 — 9,212,595 Assets for Insurance Contracts — — 1,885,937 — (547 ) 1,885,390 Other Non-financial Assets 5,782,609 725,134 27,372 1,099,312 — 7,634,427 Non-current Assets Held for Sale 29,328 — — — — 29,328 TOTAL ASSETS 946,019,300 103,071,416 5,916,613 10,746,799 (10,474,951 ) 1,055,279,177 LIABILITIES Deposits 678,102,758 5 — — (1,707,028 ) 676,395,735 Liabilities at Fair Value Through Profit or Loss — — — — — — Derivative Financial Instruments 57,450 — — — — 57,450 Other Financial Liabilities 40,888,983 55,323,990 — 2,107,556 (849,064 ) 97,471,465 Financing Received from the Argentine Central Bank and Other Financial Institutions 10,192,180 5,794,722 — 1 (2,153,464 ) 13,833,439 Debt Securities 7,904,075 10,078,781 — — (908,958 ) 17,073,898 Current Income Tax Liabilities 13,030,588 1,189,775 446,188 560,923 — 15,227,474 Subordinated Debt Securities 21,653,546 — — — — 21,653,546 Provisions 3,432,729 145,058 136,010 62,500 — 3,776,297 Deferred Income Tax Liabilities — — — 136,934 — 136,934 Liabilities for Insurance Contracts — — 2,060,999 — (23 ) 2,060,976 Other Non-financial Liabilities 18,935,846 4,975,456 686,060 700,947 (40,081 ) 25,258,228 TOTAL LIABILITIES 794,198,155 77,507,787 3,329,257 3,568,861 (5,658,618 ) 872,945,442 Banks Ecosistema Insurance Other Adjustments Total as of 12.31.19 ASSETS Cash and Due from Banks 175,814,936 5,618,935 103,152 963,415 (4,634,039 ) 177,866,399 Debt Securities at fair value through profit or loss 89,441,583 — 49,837 70 (60,112 ) 89,431,378 Derivative Financial Instruments 3,170,815 — — — — 3,170,815 Repurchase Transactions 40,944,933 — — — — 40,944,933 Other Financial Assets 7,780,625 6,186,615 435,406 467,944 (10,390 ) 14,860,200 Loans and Other Financing 421,122,047 65,928,775 358,620 3,428,355 (2,693,645 ) 488,144,152 Other Debt Securities 21,962,083 1,786,664 2,323,480 — (178,791 ) 25,893,436 Financial Assets Pledged as Collateral 15,713,219 9,617 555 2,200 (555 ) 15,725,036 Current Income Tax Assets — 20,983 — 34,158 — 55,141 Investments in Equity Instruments 6,200,459 — — — — 6,200,459 Equity Investments in Associates and Joint Ventures 419,309 — — — (419,309 ) — Property, Plant and Equipment 39,565,282 4,636,630 621,167 54,281 — 44,877,360 Intangible Assets 9,698,756 1,995,236 140,317 1,243,959 (1,243,960 ) 11,834,308 Deferred Income Tax Assets — 3,428,499 260,000 132,879 — 3,821,378 Assets for Insurance Contracts — — 1,608,517 — — 1,608,517 Other Non-financial Assets 7,223,806 398,757 163,377 1,000,001 (2,953 ) 8,782,988 Non-current Assets Held for Sale 53,106 — — — — 53,106 TOTAL ASSETS 839,110,959 90,010,711 6,064,428 7,327,262 (9,243,754 ) 933,269,606 LIABILITIES — Deposits 541,621,151 — — — (5,587,455 ) 536,033,696 Liabilities at Fair Value Through Profit or Loss 1,936,133 — — — — 1,936,133 Derivative Financial Instruments 1,199,533 — — — — 1,199,533 Other Financial Liabilities 51,640,464 43,416,663 — 2,844,848 (748,351 ) 97,153,624 Financing Received from the Argentine Central Bank and Other Financial Institutions 27,848,878 3,999,344 4,205 — (916,266 ) 30,936,161 Debt Securities 25,742,191 14,305,377 — — (238,902 ) 39,808,666 Current Income Tax Liabilities 12,544,435 1,249,899 203,138 44,763 — 14,042,235 Subordinated Debt Securities 21,100,718 — — — — 21,100,718 Provisions 3,379,110 147,522 174,984 38,118 — 3,739,734 Deferred Income Tax Liabilities 2,577,307 — 324,818 118,429 — 3,020,554 Liabilities for Insurance Contracts — — 2,004,865 — (5,457 ) 1,999,408 Other Non-financial Liabilities 18,421,066 3,721,626 644,329 536,361 (84,055 ) 23,239,327 TOTAL LIABILITIES 708,010,986 66,840,431 3,356,339 3,582,519 (7,580,486 ) 774,209,789 |
Capital Management and Risk P_2
Capital Management and Risk Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Regulatory Capital | Computable Regulatory Capital (RPC, as per the initials in Spanish) is made up of Core Capital and Supplementary Capital. Banco Galicia’s balance for such items as of December 31, 2020 and December 31, 2019 is as follows: 12.31.20 12.31.19 Basic Shareholders´ Equity 162,178,965 74,314,620 (Deductible Items) (32,594,504 ) (12,922,467 ) Equity Tier 1 129,584,461 61,392,153 Complementing shareholders’ Equity 27,477,066 19,392,341 Equity Tier 2 27,477,066 19,392,341 Regulatory Capital (RPC) 157,061,527 80,784,494 |
Summary of Breakdown of Minimum Capital Requirement | The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.20 12.31.19 Credit Risk 42,457,859 29,148,582 Market Risk 1,419,264 904,939 Operational Risk 12,192,078 7,608,102 Minimum Capital Requirement 56,069,201 37,661,623 Integration 157,061,527 80,784,494 Excess 100,992,326 43,122,871 |
Summary of Exposure to Foreign Exchange Risk as of Year End by Type of Currency | The Group’s exposure to the foreign exchange risk as of year-end by type of currency is shown below: Balances as of 12.31.20 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 212,122 (210,940 ) — 1,182 Euro 4,401 (802 ) — 3,599 Canadian Dollar 134 (4 ) — 130 Real 34 — — 34 Swiss Franc 52 (30 ) — 22 Others 103 (3 ) — 100 Total 216,846 (211,779 ) — 5,067 Balances as of 12.31.19 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 265,631 (267,422 ) 30 (1,761 ) Euro 3,105 (399 ) — 2,706 Canadian Dollar 116 (5 ) — 111 Real 1 — — 1 Swiss Franc 44 (23 ) — 21 Others 103 (5 ) — 98 Total 269,000 (267,854 ) 30 1,176 Balances as of 12.31.20 Balances as of 12.31.19 Currency Change Income (Loss) Shareholders’ Equity Income (Loss) Shareholders’ Equity US Dollar 10 % 118 1,300 176 (1,937 ) -10 % (118 ) 1,064 (176 ) (1,585 ) Euro 10 % 360 3,959 271 2,977 -10 % (360 ) 3,239 (271 ) 2,436 Canadian Dollar 10 % 13 143 11 121 -10 % (13 ) 117 (11 ) 99 Real 10 % 3 37 — 1 -10 % (3 ) 31 — 1 Swiss Franc 10 % 2 24 1 22 -10 % (2 ) 20 (1 ) 18 Others 10 % 10 110 10 108 -10 % (10 ) 90 (10 ) 88 |
Schedule of Residual Value of Assets and Liabilities, Classified by Interest Renegotiation Date or Maturity Date | The Group’s exposure to the interest rate risk is detailed below. This table shows the residual value of assets and liabilities, classified by the sooner of the interest renegotiation date or the maturity date. Term (in Days) Assets and Liabilities at Variable Rate Up to 30 From 30 to From 90 to From 180 to More than Total As of 12.31.20 Total Financial Assets 329,561,051 81,048,347 73,404,578 122,032,475 331,583,426 937,629,877 Total Financial Liabilities 525,873,217 66,622,888 17,447,849 8,728,360 204,482,905 823,155,219 Net Amount (196,312,166 ) 14,425,459 55,956,729 113,304,115 127,100,521 114,474,658 As of 12.31.19 Total Financial Assets 274,590,418 69,553,555 69,742,708 61,211,792 340,621,292 815,719,765 Total Financial Liabilities 377,563,393 61,431,217 33,503,067 4,678,139 212,118,123 689,293,939 Net Amount (102,972,975 ) 8,122,338 36,239,641 56,533,653 128,503,169 126,425,826 |
Schedule of Sensitivity to Potential Additional Changes in Interest Rates | The table below shows the sensitivity to potential additional changes in interest rates in the next fiscal year, considering the breakdown as of December 31, 2020. The percentage change budgeted by the Group for fiscal year 2020 was determined considering 100 bps and changes are considered reasonably possible on the basis on an observation of market conditions. Additional Changes to the Interest Rate Increase/(Decrease) in Income before Income Tax in Pesos Increase/(Decrease) in Shareholders’ Equity in % Decrease in Interest Rate -100 pb (1,130,532 ) -1 % Increase in Interest Rate +100 pb 1,130,532 1 % |
Schedule of Analysis of Maturities of Assets and Liabilities | The table below shows an analysis of maturities of assets and liabilities, determined based on the remaining period as of December 31, 2020 and December 31, 2019, based on undiscounted cash flows: Less than 1 1 to 6 Months 6 to 12 Months 12 Months to 5 Years More than 5 Years Total as of 12.31.20 Assets Debt Securities measured at Fair Value through Profit or Loss 152,729,877 564,114 3,180,660 432,222 — 156,906,873 Derivative Financial Instruments 547,929 — — — — 547,929 Repurchase Transactions 61,778,505 — — — — 61,778,505 Other Financial Assets 7,677,635 100,805 122,168 3,065,831 — 10,966,439 Loans and Other Financing 165,672,357 204,326,574 135,444,263 93,566,134 30,542,150 629,551,478 Other Debt Securities 25,403,983 — — — — 25,403,983 Financial Assets Pledged as Collateral 18,717,443 — — — — 18,717,443 Investments in Equity Instruments 3,745,893 — — — — 3,745,893 Liabilities Deposits 636,596,852 45,007,577 2,563,927 122,377 27 684,290,760 Liabilities at fair value through profit or loss — — — — — — Derivative Financial Instruments 57,450 — — — — 57,450 Other Financial Liabilities 93,004,399 24,479 27,441 80,500 — 93,136,819 Lease liabilities 154,855 724,867 795,298 3,700,393 1,376,069 6,751,482 Financing Received from the Argentine Central Bank and Other Financial Institutions 2,607,987 3,290,896 6,137,695 3,736,864 — 15,773,442 Debt Securities 736,438 6,156,557 8,055,337 6,349,253 — 21,297,585 Subordinated Debt Securities 855,858 — 855,858 7,559,716 21,871,443 31,142,875 Less than 1 1 to 6 Months 6 to 12 Months 12 Months to 5 Years More than 5 Years Total as of 12.31.19 Assets Debt Securities measured at Fair Value through Profit or Loss 88,378,198 1,197,484 19,642 212,016 7,157 89,814,497 Derivative Financial Instruments 1,903,979 — — — — 1,903,979 Repurchase Transactions 41,828,680 — — — — 41,828,680 Other Financial Assets 11,221,494 — — — — 11,221,494 Loans and Other Financing 180,043,930 178,211,585 80,880,191 131,022,366 35,994,787 606,152,859 Other Debt Securities 28,143,083 — — — — 28,143,083 Financial Assets Pledged as Collateral 15,725,036 — — — — 15,725,036 Investments in Equity Instruments 3,400,065 — — — — 3,400,065 Liabilities Deposits 488,012,093 56,841,558 2,974,312 105,337 44 547,933,344 Liabilities at fair value through profit or loss 1,936,133 — — — — 1,936,133 Derivative Financial Instruments 1,199,533 — — — — 1,199,533 Other Financial Liabilities 92,068,438 — — — — 92,068,438 Lease Liabilities 83,613 434,437 542,376 2,630,481 1,439,080 5,129,987 Financing Received from the Argentine Central Bank and Other Financial Institutions 5,064,925 14,694,200 5,828,763 8,446,270 — 34,034,158 Debt Securities 4,721,798 24,857,077 5,653,122 13,796,603 930,705 49,959,305 Subordinated Debt Securities 827,691 — 827,691 7,279,079 22,997,121 31,931,582 |
Schedule of Credit Quality of Debt Securities | The credit quality of debt securities as of December 31, 2020 is as follows: Government Securities Rating Government Bonds Provincial Bonds Autonomous City of Aires Bonds Treasury Argentine Central Bank’s Bills Private Securities Total as of 12.31.20 AAA 2,335,283 — — 16,964,950 — 703,421 20,003,654 AA+ — — 90,199 — — 296 90,495 AA — — — — — 56,802 56,802 Aa2 — — — — — 32,226 32,226 AA- 47,643 — — — — 894,582 942,225 A+ — — — — — 1,263 1,263 A1 — — — — — 180,683 180,683 A1+ — — — — — 820,913 820,913 A — — — — — 21,481 21,481 A2 — — — — — 108 108 A- — — — — — 40,605 40,605 A3 — 200,768 — — — — 200,768 Baa1 — — 1,000 — — 29,226 30,226 Baa3 — — — — — 13,293 13,293 B — 539,371 — — — — 539,371 CCC 4,103,429 — — — — — 4,103,429 C — — — — 128,324,920 17,098 128,342,018 Total 6,486,355 740,139 91,199 16,964,950 128,324,920 2,811,997 155,419,560 The credit quality of debt securities as of December 31, 2019 is as follows: Government Securities Rating Government Bonds Provincial Bonds Autonomous City of Aires Bonds Treasury Argentine Central Bank’s Bills Private Securities Total as of 12.31.19 AAA 422,241 — — 8,485,627 — — 8,907,868 AA+ — — 60,303 — — 7,229 67,532 AA — — — — — 130,577 130,577 AA- — — — — — 14,920 14,920 A+ — — — — — 175,635 175,635 A1+ — — — — — 639,014 639,014 A- — — — — — 48,862 48,862 A3 — — — — — 102,484 102,484 Baa1 — — 103,666 — — — 103,666 BBB 12,875 — — — — 20,580 33,455 B- — — — — — 6,336 6,336 CC 36,962 — — — 79,153,628 — 79,190,590 C — — — — — 10,439 10,439 Total 472,078 — 163,969 8,485,627 79,153,628 1,156,076 89,431,378 |
Summary of Retail Portfolios | The Group considers a financial instrument to have experienced a significant increase in credit risk when any of the following conditions exist: 1 The analysis of the customer’s cash flow shows that it is capable of attend adequately all its financial commitments. Retail Portfolio BCRA situation Extra conditions to be considered stage 2 A, B1 - Cure - Between 30 and 90 past due days - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients Retail-like Portfolio BCRA situation Extra conditions to be considered stage 2 A, B1 - Cure - Between 30 and 90 past due days - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients Wholesale Portfolio BCRA situation Extra conditions to be considered stage 2 A - Cure - BCRA situation B1 - Probability of Default (“PD”) or Score (*) C - It does not apply to defaulted clients (*) Internal scoring. |
Summary of Scenario Probabilities | Scenario Probabilities Base Optimistic Pessimistic Retail, Retail like and Wholesale 70 % 15 % 15 % Naranja 70 % 15 % 15 % |
Summary of Key Macroeconomic Variables | Key macroeconomic variables used in the scenarios described below are shown in the table: Macroeconomic Variable Projections QI - 2020 QII - 2020 QIII - 2020 QIV - 2020 GDP Base -2.8 % 15.6 % 2.5 % -0.7 % GDP Optimistic -2.2 % 17.8 % 5.1 % 2.7 % GDP Pessimistic -3.1 % 14.2 % -3.8 % -10.2 % Unemployment Rate Base 7.6 % -15.6 % -10.4 % -12.3 % Unemployment Rate Optimistic 16.3 % -10.1 % -11.3 % -15.3 % Unemployment Rate Pessimistic 20.1 % 6.2 % 21.9 % 34.8 % Real Salary Base -16.6 % -8.6 % -1.7 % 3.3 % Real Salary Optimistic -13.2 % -7.7 % -2.1 % 4.3 % Real Salary Pessimistic -10.9 % -4.7 % -3.7 % -5.9 % Badlar Base 48.8 % 42.2 % 31.1 % 4.3 % Badlar Optimistic 38.3 % 25.9 % 13.0 % -13.0 % Badlar Pessimistic 15.0 % 35.4 % 101.7 % 44.9 % |
Summary of Sensitivity Analysis to Assess Impact of Volatility on Macroeconomic Variables on Expected Credit Losses | Grupo Galicia has also carried out sensitivity analysis to assess the impact of volatility on macroeconomic variables on the result of the expected credit losses. Scenario 1 (change in the probability of the macroeconomic scenarios) Base scenario Sensitivity Regular scenario 70 % 45 % Positive scenario 15 % 10 % Negative scenario 15 % 45 % Grupo Financiero Galicia ECL 37,332,952 38,008,542 Retail, Retail like and Wholesale ECL 31,187,671 31,703,980 Naranja ECL 6,145,281 6,304,562 Scenario 2 (change in forecast PIB, inflation, nominal exchange rate, unemployment, current account) Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP -5 % 1 % -15 % Unemployment Rate -8 % -6 % 40 % Real Salary -2 % -4 % -5 % Badlar 40 % 10 % 120 % Grupo Financiero Galicia ECL 37,467,704 Retail, Retail like and Wholesale RCL 31,101,450 Naranja ECL 6,366,254 |
Summary of Maximum Exposure to Credit Risk on Assests | The following table contains an analysis of the credit risk exposure of financial instruments for which an ECL allowance is recognized. Retail Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 115,540,641 47,518,146 — 163,058,787 147,407,781 1-30 1,378,181 1,164,534 1,509,705 4,052,420 4,448,958 31-60 — 997,662 48,665 1,046,327 1,940,358 61-90 — 561,381 94,732 656,113 1,093,520 Default — — 5,556,973 5,556,973 5,829,065 Gross Carrying amount 116,918,822 50,241,723 7,210,075 174,370,620 160,719,682 Loss allowance (4,954,235 ) (12,628,050 ) (5,893,949 ) (23,476,234 ) (14,299,064 ) Net Carrying amount 111,964,587 37,613,673 1,316,126 150,894,386 146,420,618 Retail like Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 104,800,495 12,159,876 961,171 117,921,542 51,512,818 1-30 968,840 542,107 218,040 1,728,987 2,729,542 31-60 — 209,942 6,511 216,453 305,087 61-90 — 45,021 15,885 60,906 435,629 Default — — 1,187,351 1,187,351 3,318,130 Gross Carrying amount 105,769,335 12,956,946 2,388,958 121,115,239 58,301,206 Loss allowance (559,205 ) (2,130,872 ) (1,831,739 ) (4,521,816 ) (4,103,299 ) Net Carrying amount 105,210,130 10,826,074 557,219 116,593,423 54,197,907 Wholesale Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 263,742,041 12,556,395 — 276,298,436 288,340,517 B1 — 1,002,250 — 1,002,250 514,223 Default — — 796,138 796,138 6,638,965 Gross Carrying amount 263,742,041 13,558,645 796,138 278,096,824 295,493,705 Loss allowance (1,959,717 ) (623,103 ) (606,801 ) (3,189,621 ) (7,096,646 ) Net Carrying amount 261,782,324 12,935,542 189,337 274,907,203 288,397,059 Naranja December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 85,988,867 1,003,472 263,172 87,255,511 61,842,678 1-30 3,231,993 225,959 56,048 3,514,000 3,652,592 31-60 — 853,081 47,855 900,936 1,760,530 61-90 — 373,206 30,348 403,554 919,425 Default — — 1,974,836 1,974,836 7,597,388 Gross Carrying amount 89,220,860 2,455,718 2,372,259 94,048,837 75,772,613 Loss allowance (3,707,641 ) (589,155 ) (1,848,485 ) (6,145,281 ) (10,092,365 ) Net Carrying amount 85,513,219 1,866,563 523,774 87,903,556 65,680,248 Retail Portfolio December 31, 2019 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 106,961,239 39,204,462 1,242,080 147,407,781 189,552,804 1-30 2,127,002 2,069,604 252,352 4,448,958 7,164,281 31-60 — 1,718,377 221,981 1,940,358 3,190,264 61-90 — 719,178 374,342 1,093,520 1,652,119 Default — — 5,829,065 5,829,065 7,080,891 Gross Carrying amount 109,088,241 43,711,621 7,919,820 160,719,682 208,640,359 Loss allowance (5,514,025 ) (2,554,594 ) (6,230,445 ) (14,299,064 ) (15,659,979 ) Net Carrying amount 103,574,216 41,157,027 1,689,375 146,420,618 192,980,380 Retail like Portfolio December 31, 2019 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 44,985,250 5,850,798 676,770 51,512,818 67,804,625 1-30 1,779,010 725,260 225,272 2,729,542 2,774,228 31-60 — 217,775 87,312 305,087 704,220 61-90 — 234,578 201,051 435,629 548,510 Default — — 3,318,130 3,318,130 3,764,864 Gross Carrying amount 46,764,260 7,028,411 4,508,535 58,301,206 75,596,447 Loss allowance (480,463 ) (199,468 ) (3,423,368 ) (4,103,299 ) (3,616,367 ) Net Carrying amount 46,283,797 6,828,943 1,085,167 54,197,907 71,980,080 Wholesale Portfolio December 31, 2019 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 280,598,191 7,742,326 — 288,340,517 296,480,994 B1 — 514,223 — 514,223 (4,604,821 ) Default — — 6,638,965 6,638,965 5,268,147 Gross Carrying amount 280,598,191 8,256,549 6,638,965 295,493,705 297,144,320 Loss allowance (679,001 ) (301,216 ) (6,116,429 ) (7,096,646 ) (2,661,522 ) Net Carrying amount 279,919,190 7,955,333 522,536 288,397,059 294,482,798 Naranja December 31, 2019 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 60,762,833 724,351 355,494 61,842,678 82,799,332 1-30 3,314,275 216,244 122,073 3,652,592 7,369,251 31-60 — 1,656,414 104,116 1,760,530 3,564,361 61-90 — 856,384 63,041 919,425 1,967,627 Default — — 7,597,388 7,597,388 7,931,114 Gross Carrying amount 64,077,108 3,453,393 8,242,112 75,772,613 103,631,685 Loss allowance (2,754,583 ) (958,629 ) (6,379,153 ) (10,092,365 ) (11,114,984 ) Net Carrying amount 61,322,525 2,494,764 1,862,959 65,680,248 92,516,701 |
Summary of Information On Balance Sheet Items And Their Collateral In Offsets As Well As Loan And Other Credit - Related Commitments | Assets Subject to Impairment Item Carrying Amount Loss Allowances Gross Carrying Collateral´s Fair Advances 29,219,431 (679,786 ) 28,539,645 — Mortgage Loans 143,769,344 (522,696 ) 143,246,648 — Pledge Loans 16,486,335 (5,320,236 ) 11,166,099 148,099,128 Personal Loans 11,586,593 (109,735 ) 11,476,858 32,538,883 Credit Card Loans 36,504,158 (8,787,760 ) 27,716,398 — Financial Leases 241,793,015 (16,713,933 ) 225,079,082 — Overdrafts 1,855,070 (36,388 ) 1,818,682 — Pre-financing export loans 29,487,016 (629,027 ) 28,857,989 — Others 138,001,603 (4,489,715 ) 133,511,888 1,784,133 Other Debt Securities 18,928,955 (43,676 ) 18,885,279 — Total as of December 31, 2020 667,631,520 (37,332,952 ) 630,298,568 182,422,144 |
Summary of Mortgage Portfolio LTV Distribution | The following table shows information about the mortgage portfolio LTV distribution. Mortgages Portfolio -LTV Distribution Exposure Lower than 50% 3,807 50 to 60% 282 60 to 70% 576 70 to 80% 436 80 to 90% 495 90 to 100% 4,765 Higher than 100% 20,599 Total 30,960 |
Summary of Changes in Loss Allowance and Explanation of Changes in Gross Carrying Amount Between Beginning and End of Annual Period | The following tables explain the changes in the loss allowance between the beginning and the end of the annual period due to these factors: Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2019 5,514,025 2,554,594 6,230,445 — 14,299,064 Inflation effect (2,119,898 ) (2,350,556 ) (2,434,533 ) — (6,904,987 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (498,483 ) 498,483 — — — Transfer from Stage 1 to Stage 3 (118,204 ) — 118,204 — — Transfer from Stage 2 to Stage 1 387,515 (387,515 ) — — — Transfer from Stage 2 to Stage 3 — (336,064 ) 336,064 — — Transfer from Stage 3 to Stage 1 198,995 — (198,995 ) — — Transfer from Stage 3 to Stage 2 — 361,066 (361,066 ) — — New Financial Assets Originated or Purchased 1,024,326 679,012 1,779,747 — 3,483,085 Changes in PDs/LGDs/EADs (129,815 ) 1,080,703 1,028,008 — 1,978,896 Changes to model assumptions and methodologies 1,010,684 9,351,243 2,365,584 — 12,727,511 Foreign exchange and other movements 651,290 1,716,169 335,600 — 2,703,059 Other movements with no P&L impact Write-offs and other movements (966,200 ) (539,085 ) (3,305,109 ) — (4,810,394 ) Loss Allowance as of December 31, 2020 4,954,235 12,628,050 5,893,949 — 23,476,234 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2019 480,463 199,468 3,423,368 — 4,103,299 Inflation effect (217,336 ) (395,100 ) (1,202,902 ) — (1,815,338 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (36,222 ) 36,222 — — — Transfer from Stage 1 to Stage 3 (3,402 ) — 3,402 — — Transfer from Stage 2 to Stage 1 29,362 (29,362 ) — — — Transfer from Stage 2 to Stage 3 — (8,796 ) 8,796 — — Transfer from Stage 3 to Stage 1 (17,165 ) — 17,165 — — Transfer from Stage 3 to Stage 2 — 72,278 (72,278 ) — — New Financial Assets Originated or Purchased 396,426 133,391 1,107,514 — 1,637,331 Changes in PDs/LGDs/EADs 1,213,269 384,169 58,150 — 1,655,588 Changes to model assumptions and methodologies (1,192,104 ) 1,471,030 541,170 — 820,096 Foreign exchange and other movements 104,533 377,770 283,658 — 765,961 Other movements with no P&L impact Write-offs and other movements (198,619 ) (110,198 ) (2,336,304 ) — (2,645,121 ) Loss Allowance as of December 31, 2020 559,205 2,130,872 1,831,739 — 4,521,816 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2019 679,001 301,216 6,116,429 — 7,096,646 Inflation effect (562,741 ) (201,577 ) (1,742,132 ) — (2,506,450 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (60,395 ) 60,395 — — — Transfer from Stage 1 to Stage 3 (13 ) — 13 — — Transfer from Stage 2 to Stage 1 5,354 (5,354 ) — — — Transfer from Stage 2 to Stage 3 — (17,065 ) 17,065 — — Transfer from Stage 3 to Stage 1 — — — — — Transfer from Stage 3 to Stage 2 — — — — — New Financial Assets Originated or Purchased 516,802 85,037 43,764 — 645,603 Changes in PDs/LGDs/EADs 118,388 26,417 13 — 144,818 Changes to model assumptions and methodologies 1,521,179 363,383 779,725 — 2,664,287 Foreign exchange and other movements 455,386 138,548 134,717 — 728,651 Other movements with no P&L impact Write-offs and other movements (713,244 ) (127,897 ) (4,742,793 ) — (5,583,934 ) Loss Allowance as of December 31, 2020 1,959,717 623,103 606,801 — 3,189,621 Stage 1 Stage 2 Stage 3 Naranja 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2019 2,754,583 958,629 6,379,153 — 10,092,365 Inflation effect (1,139,035 ) (319,282 ) (1,896,750 ) — (3,355,067 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (72,171 ) 72,171 — — — Transfer from Stage 1 to Stage 3 (145,729 ) — 145,729 — — Transfer from Stage 2 to Stage 1 — (155,018 ) 155,018 — — Transfer from Stage 2 to Stage 3 173,949 (173,949 ) — — — Transfer from Stage 3 to Stage 1 108,373 — (108,373 ) — — Transfer from Stage 3 to Stage 2 — 13,578 (13,578 ) — — New Financial Assets Originated or Purchased 2,549,927 199,345 168,275 — 2,917,547 Changes in PDs/LGDs/EADs 265,208 66,142 186,064 — 517,414 Changes to model assumptions and methodologies — — — — — Foreign exchange and other movements 773,817 124,733 391,352 — 1,289,902 Other movements with no P&L impact Write-offs and other movements (1,561,281 ) (197,194 ) (3,558,405 ) — (5,316,880 ) Loss Allowance as of December 31, 2020 3,707,641 589,155 1,848,485 — 6,145,281 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2018 5,446,096 4,853,535 5,360,348 — 15,659,979 Inflation effect (2,638,825 ) (2,033,094 ) (2,699,649 ) — (7,371,568 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (737,405 ) 737,405 — — — Transfer from Stage 1 to Stage 3 (76,120 ) — 76,120 — — Transfer from Stage 2 to Stage 1 629,942 (629,942 ) — — — Transfer from Stage 2 to Stage 3 — (454,456 ) 454,456 — — Transfer from Stage 3 to Stage 1 28,855 — (28,855 ) — — Transfer from Stage 3 to Stage 2 — 47,182 (47,182 ) — — New Financial Assets Originated or Purchased 1,327,881 774,816 3,411,401 — 5,514,098 Changes in PDs/LGDs/EADs 1,186,973 (329,590 ) 49,940 — 907,323 Changes to model assumptions and methodologies (235,416 ) 1,000,727 265,557 — 1,030,868 Foreign exchange and other movements 1,147,613 116,244 1,016,936 — 2,280,793 Other movements with no P&L impact Write-offs and other movements (565,569 ) (1,528,233 ) (1,628,627 ) — (3,722,429 ) Loss Allowance as of December 31, 2019 5,514,025 2,554,594 6,230,445 — 14,299,064 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2018 559,063 586,665 2,470,639 — 3,616,367 Inflation effect (297,080 ) (247,408 ) (1,587,345 ) — (2,131,833 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (33,806 ) 33,806 — — — Transfer from Stage 1 to Stage 3 (1,955 ) — 1,955 — — Transfer from Stage 2 to Stage 1 23,109 (23,109 ) — — — Transfer from Stage 2 to Stage 3 — (39,816 ) 39,816 — — Transfer from Stage 3 to Stage 1 1,600 — (1,600 ) — — Transfer from Stage 3 to Stage 2 — 12,684 (12,684 ) — — New Financial Assets Originated or Purchased 324,042 96,077 2,747,257 — 3,167,376 Changes in PDs/LGDs/EADs 61,555 (13,733 ) 137,977 — 185,799 Changes to model assumptions and methodologies (66,337 ) 49,762 377,340 — 360,765 Foreign exchange and other movements 156,997 34,393 839,392 — 1,030,782 Other movements with no P&L impact Write-offs and other movements (246,725 ) (289,853 ) (1,589,379 ) — (2,125,957 ) Loss Allowance as of December 31, 2019 480,463 199,468 3,423,368 — 4,103,299 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2018 1,101,084 162,022 1,398,416 — 2,661,522 Inflation effect (644,265 ) (116,256 ) (1,698,724 ) — (2,459,245 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (38,584 ) 38,584 — — — Transfer from Stage 1 to Stage 3 (79 ) — 79 — — Transfer from Stage 2 to Stage 1 84,927 (84,927 ) — — — Transfer from Stage 2 to Stage 3 — (1,398 ) 1,398 — — Transfer from Stage 3 to Stage 1 3 — (3 ) — — Transfer from Stage 3 to Stage 2 — 56,497 (56,497 ) — — New Financial Assets Originated or Purchased 524,555 127,939 287,888 — 940,382 Changes in PDs/LGDs/EADs (151,260 ) 9,780 5,051,844 — 4,910,364 Changes to model assumptions and methodologies (22,269 ) 155,158 16,239 — 149,128 Foreign exchange and other movements 291,778 63,427 1,445,286 — 1,800,491 Other movements with no P&L impact Write-offs and other movements (466,889 ) (109,610 ) (329,497 ) — (905,996 ) Loss Allowance as of December 31, 2019 679,001 301,216 6,116,429 — 7,096,646 Stage 1 Stage 2 Stage 3 Naranja 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2018 2,882,959 3,858,958 4,373,067 — 11,114,984 Inflation effect (1,447,146 ) (1,502,938 ) (2,545,295 ) — (5,495,379 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (69,501 ) 69,501 — — — Transfer from Stage 1 to Stage 3 (146,043 ) — 146,043 — — Transfer from Stage 2 to Stage 1 926,454 (926,454 ) — — — Transfer from Stage 2 to Stage 3 — (926,550 ) 926,550 — — Transfer from Stage 3 to Stage 1 12,958 — (12,958 ) — — Transfer from Stage 3 to Stage 2 — 3,767 (3,767 ) — — New Financial Assets Originated or Purchased 147,103 1,287,841 4,156,431 — 5,591,375 Changes in PDs/LGDs/EADs 537,543 452,605 582,337 — 1,572,485 Changes to model assumptions and methodologies (421,414 ) (944,633 ) (11,813 ) — (1,377,860 ) Foreign exchange and other movements 601,532 204,060 1,357,907 — 2,163,499 Other movements with no P&L impact Write-offs and other movements (269,862 ) (617,528 ) (2,589,349 ) — (3,476,739 ) Loss Allowance as of December 31, 2019 2,754,583 958,629 6,379,153 — 10,092,365 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2017 2,290,310 1,920,604 3,510,570 — 7,721,484 Inflation effect (739,086 ) (619,787 ) (1,132,871 ) — (2,491,744 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (76,341 ) 76,341 — — — Transfer from Stage 1 to Stage 3 (27,194 ) — 27,194 — — Transfer from Stage 2 to Stage 1 129,152 (129,152 ) — — — New Financial Assets Originated or Purchased 1,424,772 2,882,551 3,384,236 — 7,691,559 Changes in PDs/LGDs/EADs 2,800,850 1,974,132 3,925,774 — 8,700,756 Foreign exchange and other movements 97,818 55,599 (20,473 ) — 132,944 Other movements with no P&L impact Transfers: Transfer from Stage 2 to Stage 3 — (85,466 ) 85,466 — — Transfer from Stage 3 to Stage 2 — 60,031 (60,031 ) — — Write-offs and other movements (454,185 ) (1,281,318 ) (4,359,517 ) — (6,095,020 ) Loss Allowance as of December 31, 2018 5,446,096 4,853,535 5,360,348 — 15,659,979 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2017 464,424 266,037 1,291,276 — 2,021,737 Inflation effect (149,871 ) (85,853 ) (416,696 ) — (652,420 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (8,191 ) 8,191 — — — Transfer from Stage 1 to Stage 3 (1,556 ) — 1,556 — — Transfer from Stage 2 to Stage 1 20,053 (20,053 ) — — — New Financial Assets Originated or Purchased 379,522 410,461 1,817,884 — 2,607,867 Changes in PDs/LGDs/EADs 252,137 186,400 1,099,662 — 1,538,199 Foreign exchange and other movements 35,695 34,068 184,701 — 254,464 Other movements with no P&L impact Transfers: Transfer from Stage 2 to Stage 3 — (6,147 ) 6,147 — — Transfer from Stage 3 to Stage 2 — 6,587 (6,587 ) — — Write-offs and other movements (433,150 ) (213,026 ) (1,507,304 ) — (2,153,480 ) Loss Allowance as of December 31, 2018 559,063 586,665 2,470,639 — 3,616,367 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2017 443,517 94,680 1,033,797 — 1,571,994 Inflation effect (143,127 ) (30,550 ) (333,605 ) — (507,282 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (3,920 ) 3,920 — — — Transfer from Stage 1 to Stage 3 (375 ) — 375 — — Transfer from Stage 2 to Stage 1 5,858 (5,858 ) — — — New Financial Assets Originated or Purchased 834,593 90,364 — — 924,957 Changes in PDs/LGDs/EADs 309,539 82,253 160,037 — 551,829 Foreign exchange and other movements (14,289 ) 20,924 524,932 — 531,567 Other movements with no P&L impact Transfers: Transfer from Stage 2 to Stage 3 — (12,880 ) 12,880 — — Write-offs and other movements (330,712 ) (80,831 ) — — (411,543 ) Loss Allowance as of December 31, 2018 1,101,084 162,022 1,398,416 — 2,661,522 Stage 1 Stage 2 Stage 3 Naranja 12-month Lifetime Lifetime Purchased Total Loss Allowance as of December 31, 2017 1,893,842 2,660,280 3,566,912 — 8,121,034 Inflation effect (611,149 ) (858,476 ) (1,151,051 ) — (2,620,676 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (232,792 ) 232,792 — — — Transfer from Stage 1 to Stage 3 (84,391 ) — 84,391 — — Transfer from Stage 2 to Stage 1 451,410 (451,410 ) — — — New Financial Assets Originated or Purchased 1,077,725 1,539,491 1,086,139 — 3,703,355 Changes in PDs/LGDs/EADs 748,465 2,540,874 4,918,665 — 8,208,004 Foreign exchange and other movements (269,272 ) (439,982 ) — — (709,254 ) Other movements with no P&L impact Transfers: Transfer from Stage 2 to Stage 3 — (587,160 ) 587,160 — — Transfer from Stage 3 to Stage 1 20,239 — (20,239 ) — — Transfer from Stage 3 to Stage 2 — 22,840 (22,840 ) — — Write-offs and other movements (111,118 ) (800,291 ) (4,676,070 ) — (5,587,479 ) Loss Allowance as of December 31, 2018 2,882,959 3,858,958 4,373,067 — 11,114,984 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased Total Gross carrying amount as of December 31, 2019 109,088,241 43,711,621 7,919,820 — 160,719,682 Transfers: Transfers from Stage 1 to Stage 2 (13,927,874 ) 13,927,874 — — — Transfers from Stage 1 to Stage 3 (1,547,026 ) — 1,547,026 — — Transfers from Stage 2 to stage 1 9,476,779 (9,476,779 ) — — — Transfers from Stage 2 to Stage 3 — (1,510,981 ) 1,510,981 — — Transfers from Stage 3 to Stage 2 — 559,745 (559,745 ) — — Transfers from Stage 3 to Stage 1 290,100 — (290,100 ) — — Financial assets derecognized during the period other than write-offs (11,928,884 ) (3,444,031 ) (3,940,595 ) — (19,313,510 ) New financial assets originated or purchased 29,264,738 8,648,366 2,189,870 — 40,102,974 FX and other movements 25,161,879 9,429,822 935,254 — 35,526,955 Inflation Effect (28,959,131 ) (11,603,914 ) (2,102,436 ) — (42,665,481 ) Gross carrying amount as of December 31, 2020 116,918,822 50,241,723 7,210,075 — 174,370,620 |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Provisions for Contingencies | The provisions for contingencies recorded are as follows: 12.31.20 12.31.19 Other Contingencies 3,708,589 3,672,138 For Commercial Lawsuits/Legal matters 2,758,425 2,862,007 For Labor Lawsuits 268,689 230,095 For Claims and Credit Cards 1,097 1,493 For Guarantees Granted 1,142 1,555 For Other Contingencies 458,412 343,701 For Termination Benefits 220,824 233,287 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 62,402 60,372 Administrative, Disciplinary and Criminal Penalties 5,306 7,224 Total 3,776,297 3,739,734 |
Offsetting of Financial Asset_2
Offsetting of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Financial Instruments Subject to Offsetting, Master Netting Agreements and Similar Agreements | The financial instruments subject to offsetting, master netting agreements and similar agreements as of December 31, 2020 and 2019 are as follows: Offsetting effects on Statement of Related amounts not 12.31.20 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 27,671 — 27,671 (25,086 ) 2,585 Total 27,671 — 27,671 (25,086 ) 2,585 Financial Liabilities Derivate Instruments 31,493 — 31,493 (25,086 ) 6,407 Total 31,493 — 31,493 (25,086 ) 6,407 Offsetting effects on Statement of Related amounts not 12.31.19 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 116,438 — 116,438 (99,124 ) 17,314 Total 116,438 — 116,438 (99,124 ) 17,314 Financial Liabilities Derivate Instruments 170,930 — 170,930 (99,124 ) 71,806 Total 170,930 — 170,930 (99,124 ) 71,806 |
Off-balance Sheet Items (Tables
Off-balance Sheet Items (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Schedule of Credit Exposure | The credit exposure for these transactions is detailed below. 12.31.20 12.31.19 Agreed Credits 33,133,907 27,162,163 Documentary Export and Import Credits 2,483,005 3,534,722 Guarantees Granted 12,658,942 21,963,779 Liabilities for Foreign Trade Operations 916,751 2,317,141 |
Schedule of Fees and Commissions Related to Credit Exposure | The fees and commissions related to the items mentioned above as of the indicated dates were as follows: 12.31.20 12.31.19 For Agreed Credits 19,432 141,340 For Documentary Export and Import Credits 104,595 123,828 For Guarantees Granted 72,070 327,608 |
Schedule of Counter-guarantees, Classified by Type | To grant guarantees to our customers, we may require counter-guarantees, which, classified by type, amount to: 12.31.20 12.31.19 Other Preferred Guarantees Received 65,887 1,265,645 Other Guarantees Received 285,247 713,086 |
Schedule of Credit Risk by Probability of Default | The risk of loss in these offsetting transactions is not significant. 12.31.20 12.31.19 Values to be Debited 7,001,365 7,311,215 Values to be Credited 10,518,835 9,197,463 Values for Collection 85,197,420 52,424,444 |
Schedule of Amounts of Trust Funds and Securities Held in Custody | The Group acts as trustee by virtue of trust agreements to secure obligations derived from several agreements between parties. The amounts of trust funds and securities held in custody as of the indicated dates are as follows: 12.31.20 12.31.19 Trust Funds 8,780,506 9,480,177 Securities Held in Escrow 804,332,490 633,438,634 |
Non-controlling Interest (Table
Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Non-controlling Equity Investment Percentages and Votes | The non-controlling equity investment percentages and votes as of the indicated dates are as follows: Company Place of Business 12.31.20 12.31.19 Cobranzas Regionales S.A. Códoba - Argentina 0.00 % 17.00 % Galicia Broker Asesores de Seguros S.A. CABA - Argentina 0.01 % 0.01 % Galicia Retiro Compañía de Seguros S.A. CABA - Argentina 0.00 % 0.00 % Galicia Seguros S.A. CABA - Argentina 0.00 % 0.00 % Naranja Digital Compañía Financiera S.A.U. CABA - Argentina 0.00 % 17.00 % Ondara S.A. CABA - Argentina 0.00 % 16.15 % Tarjeta Naranja S.A. Códoba - Argentina 0.00 % 17.00 % Tarjetas Regionales S.A. CABA - Argentina 0.00 % 17.00 % |
Summary of Movements in Group's Significant Non-Controlling Interests | Changes in the Group’s non-controlling interests as of the indicated dates were as follows: Company Balance as 12.31.19 Purchases / Cash Dividends Profit for the Balance as 12.31.20 Cobranzas Regionales S.A. (26,636 ) — — (49,983 ) (76,619 ) Galicia Broker Asesores de Seguros S.A. 4 — — (1 ) 3 Galicia Retiro Compañía de Seguros S.A. 4 — — (4 ) — Galicia Seguros S.A. 5 — — (5 ) — Naranja Digital Compañía Financiera S.A.U. (20,522 ) — — (50,273 ) (70,795 ) Ondara S.A. 11,382 — — (879 ) 10,503 Tarjeta Naranja S.A. 3,439,901 — — 514,371 3,954,272 Tarjetas Regionales S.A. 534,426 (4,135,824 ) (143,844 ) (72,119 ) (3,817,361 ) Total 3,938,564 (4,135,824 ) (143,844 ) 341,107 3 Company Balance as 12.31.18 Purchases / Cash Dividends Profit for the Balance as 12.31.19 Cobranzas Regionales S.A. 24,327 — — (50,963 ) (26,636 ) Galicia Broker Asesores de Seguros S.A. 4 — — — 4 Galicia Retiro Compañía de Seguros S.A. 4 — — — 4 Galicia Seguros S.A. 5 — — — 5 Naranja Digital Compañía Financiera S.A.U. — — — (20,522 ) (20,522 ) Ondara S.A. 12,660 — — (1,278 ) 11,382 Tarjeta Naranja S.A. 3,121,583 — — 318,318 3,439,901 Tarjetas Regionales S.A. 448,887 179,986 — (94,447 ) 534,426 Total 3,607,470 179,986 — 151,108 3,938,564 Company Balance as 12.31.17 Purchases / Cash Dividends Profit for the Balance as 12.31.18 Cobranzas Regionales S.A. 27,814 — — (3,487 ) 24,327 Galicia Broker Asesores de Seguros S.A. 4 — — — 4 Galicia Retiro Compañía de Seguros S.A. 4 — — — 4 Galicia Seguros S.A. 5 — — — 5 Naranja Digital Compañía Financiera S.A.U. — — — — — Ondara S.A. 14,815 — 109 (2,264 ) 12,660 Tarjeta Naranja S.A. 5,688,995 (1,613,587 ) (287,822 ) (666,003 ) 3,121,583 Tarjetas Regionales S.A. 453,788 — 85,004 (89,905 ) 448,887 Total 6,185,425 (1,613,587 ) (202,709 ) (761,659 ) 3,607,470 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Controlled Entity of Related Party Transactions | The Group is controlled by: Name Nature Principal Line of Business Place of Business Equity Investment % EBA Holding S.A. 54.09% of voting rights Financial and Investment Operations Autonomous City of Buenos Aires – Argentina 19.07 % |
Compensation of Key Management Personnel | Key personnel’s structure as of the indicated dates is as follows: 12.31.20 12.31.19 Regular Directors 79 74 General Manager 2 2 Area Managers 13 10 Department Managers 46 67 Total 140 153 |
Summary of Total Assistance Granted by Group to Key Personnel, Syndics, Majority Shareholders, as well as all Individuals | The following table shows the total credit assistance granted by the Group to key personnel, syndics, majority shareholders, as well as all individuals who are related to them by a family relationship of up to the second degree of consanguinity or first degree by affinity (pursuant to the Argentine Central Bank’s definition of related individual) and any entity affiliated with any of these parties, not required to be consolidated. 12.31.20 12.31.19 Total Amount of Credit Assistance 1,991,604 1,499,910 Number of Addressees (quantities) 269 283 - Natural Persons 208 229 - Legal Entities 61 54 Average Amount of Credit Assistance 7,404 5,300 Maximum Assistance 508,945 596,026 |
Summary of Amounts of Related Party Transactions | The amounts of related party transactions conducted as of the indicated dates are as follows: 12.31.20 12.31.19 Assets Cash and Due from Banks 1,392,563 4,634,039 Debt Securities at Fair Value through Profit or Loss 738,302 60,112 Other Financial Assets 1,659 10,390 Loans and Other Financing 3,354,891 2,693,645 Other Debt Securities 170,656 178,791 Financial Assets Pledged as Collateral — 555 Assets for Insurance Contracts 547 — Other Non-financial Assets — 2,953 Total Assets 5,658,618 7,580,485 Liabilities Deposits 1,707,028 5,587,455 Derivative Financial Instruments — — Other Financial Liabilities 849,064 748,351 Financing Received from the Argentine Central Bank and other Financial Institutions 2,153,464 916,266 Debt Securities Issued 908,958 238,903 Liabilities for Insurance Contracts 23 5,457 Other Non-financial Liabilities 40,081 84,053 Total Liabilities 5,658,618 7,580,485 12.31.20 12.31.19 12.31.18 Income (Loss) Net Income (Loss) from Interest 226,467 490,269 58,588 Net Fee Income (Expense) (1,085,741 ) (1,201,852 ) (71,981 ) Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (904 ) — — Other Operating Income (Expense) (1,193,475 ) (1,576,194 ) (2,682,854 ) Income from Insurance Business 2,005,616 2,389,538 2,632,514 Administrative Expenses 121,002 174,543 64,887 Other Operating Expenses 14,459 9,282 — Total Income 87,424 285,586 1,154 |
Additional Information Requir_2
Additional Information Required by the Argentine Central Bank (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [abstract] | |
Summary of Restricted Assets | a) Cash and Government Securities 12.31.20 12.31.19 For transactions in ROFEX, MAE and BYMA 3,905,372 1,782,587 For debit / credit cards transactions 3,020,109 3,083,168 For attachments 9,410 12,811 Liquid offsetting entry required to operate as CNV agent 64,020 14,641 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada 1,100 122,322 Guarantees for the Regional Economies Competitiveness Program 184,744 444,927 For other transactions (includes guarantees linked to rental contracts) 19,802 20,313 b) Special Guarantees Accounts Special guarantee accounts have been opened at the Argentine Central Bank as collateral for transactions involving electronic clearing houses, checks for settling debts and other similar transactions as of the indicated dates, which amount to: 12.31.20 12.31.19 Escrow Accounts 11,444,550 10,245,260 c) Deposits in favor of the Argentine Central Bank 12.31.20 12.31.19 Unavailable deposits due to exchange transactions 533 726 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferable non-endorsable registered ordinary shares in Electrigal S.A., the transfer of which is subject to approval by the national authorities, according to the terms of the previously executed concession contract. e) Contributions to Garantizar S.G.R.’s Risk Fund Banco de Galicia y Buenos Aires S.A.U., in its capacity as sponsoring partner of Garantizar S.G.R.’s Risk Fund, is committed to maintaining the contributions made to the fund for two (2) years. 12.31.20 12.31.19 Contributions to the Fund 990,000 1,347,792 INVIU S.A.U. 12.31.20 12.31.19 Liquid offsetting entry required to operate as CNV agents 18,469 22,753 Guarantees linked to surety bonds 7,417 — Tarjeta Naranja S.A. 12.31.20 12.31.19 Attachments arising from judicial cases 973 3,188 Guarantees linked to rental contracts 7,076 9,209 Galicia Administradora de Fondos S.A. 12.31.20 12.31.19 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV (*) 13,903 13,803 (*) As of December 31, 2020, it corresponds to 1,620,000 shares of Fima Premium Class “B” Mutual Fund. Galicia Securities S.A. 12.31.20 12.31.19 For transactions in the market 48,015 — Liquid offsetting entry required to operate as CNV agents 11,270 — Guarantees linked to surety bonds 1,129 — The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.20 12.31.19 Total Restricted Assets 19,747,892 17,123,500 |
Summary of Trust Activities | a) Trust Contracts for Purposes of Guaranteeing Compliance with Obligations: Purpose: In order to guarantee compliance with contractual obligations, the parties to these agreements have agreed to deliver to Banco de Galicia y Buenos Aires S.A.U., as fiduciary property, amounts to be applied according to the following breakdown: Date of Contract Trustor Balances of Trust Maturity (1) 04.17.12 Exxon Mobil 13,540 04.19.21 09.12.14 Coop. de Trab. Portuarios 1,009 09.12.22 04.14.16 Rios Belt 121 12.31.21 05.24.17 MSU 33 12.31.21 Total 14,703 (1) These amounts shall be released monthly until settlement date of trustor obligations or maturity date, whichever occurs first. b) Financial Trust Contracts: Purpose: To administer and exercise the fiduciary ownership of the trust assets until the redemption of debt securities and participation certificates: Contract date Trust Balances of Trust Funds Maturity (*) 12.06.06 GAS I 133,278 12.31.21 05.14.09 GAS II 8,614,193 12.31.22 06.08.11 MILA III 17,118 12.31.21 01.09.11 MILA IV 295 12.31.21 06.12.17 MILA XVIII 919 01.31.24 Total 8,765,803 (*) Estimated date, since maturity date shall occur at the time of the distribution of all of trust assets. |
Summary of Balances of the Mutual Funds | The balances of the Mutual Funds as of the indicated dates are detailed as follows: Mutual Fund 12.31.20 12.31.19 FIMA Acciones 590,257 548,757 FIMA P.B. Acciones 633,036 941,220 FIMA Renta en pesos 1,098,300 319,338 FIMA Ahorro pesos 7,252,021 3,626,852 FIMA Renta Plus 739,739 200,953 FIMA Premium 148,692,964 93,646,912 FIMA Ahorro Plus 12,706,534 3,718,984 FIMA Capital Plus 16,650,938 154,164 FIMA Abierto PyMES 758,538 795,135 FIMA Mix I 2,047,362 77,755 FIMA Renta Dólares I (*) — 2,259,686 FIMA Renta Dólares II (*) — 739,938 FIMA Renta Fija Internacional 1,172,774 2,735,979 FIMA Acciones Latinoamericanas Dólares (*) 72,668 126,852 Total 192,415,131 109,892,525 (*) Stated at the reference exchange rate of the U.S. Dollar set by the Argentine Central Bank. See Note 1.6.(b). |
Summary of Compliance with Minimum Cash Requirements | As of December 31, 2020, the balances recorded as computable items are as follows: Currency Item Ps. USD Euros (*) Checking Accounts held in Argentine Central Bank 1,000 1,217,252 31 Escrow Accounts held in Argentine Central Bank 11,148,780 3,515 — National Treasury Bonds in Argentine Pesos computable for minimum cash 18,343,599 — — Liquidity Bills computable for minimum cash 46,617,121 — — Total for integration Minimum Cash 76,110,500 1,220,767 31 (*) Stated in thousands of USD. |
Schedule of Shareholders' Equity | Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.20 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 61,548,313 Legal reserve 714,107 Distributable reserves 116,312,804 Non distributable reserves 5,047,825 Retained results (44,533,351 ) Profit for the year 26,439,048 Total Shareholder’s equity under the rules of the Argentine Central Bank 184,284,625 |
Accounting Policies and Basis_4
Accounting Policies and Basis for Preparation - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of significant accounting policies [line items] | ||
Description of economy qualifies as hyper inflationary pursuant | the standard sets forth certain factors that should be considered, including a three-year cumulative inflation rate reaching or exceeding 100%. | |
Reference exchange rate, U.S. Dollars | 84.145 | 59.895 |
"Legal reserve as percentage of net income " | 5.00% | |
Percentage of legal reserves equal to capital stock | 20.00% | |
Net income percentage appropriated to legal reserve | 20.00% |
Accounting Policies and Basis_5
Accounting Policies and Basis for Preparation - Summary of Main Commissions Earned by the Bank (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Savings accounts [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Savings Accounts |
Earning Frequency | Monthly |
Checking accounts [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Checking Accounts |
Earning Frequency | Monthly |
Credit-card renewal [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Credit-card Renewal |
Earning Frequency | Annual |
Safe deposit boxes [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Safe Deposit Boxes |
Earning Frequency | Quarterly |
Bonds and shares transactions [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Bonds and Shares Transactions |
Earning Frequency | On each transaction |
Account maintenance [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Account Maintenance |
Earning Frequency | Monthly |
Deposits and withdrawals among branches [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Deposits and Withdrawals among Branches |
Earning Frequency | Monthly |
Foreign trade transactions [member] | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |
Commissions Retail | Foreign Trade Transactions |
Earning Frequency | On each transaction |
Financial Instruments - Schedul
Financial Instruments - Schedule of Portfolios of Financial Instruments (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | $ 155,419,560 | $ 89,431,378 |
Fair Value through Profit or Loss | 0 | 1,936,133 |
Argentine central bank's bills and notes [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 128,324,920 | 79,153,628 |
Government securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 24,282,643 | 9,121,674 |
Corporate Securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 2,811,997 | 1,156,076 |
Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 2,165,032 | 3,170,815 |
Repurchase transactions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 60,995,643 | 40,944,933 |
Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 2,791,983 | 6,840,391 |
Amortized Cost | 7,301,643 | 8,019,809 |
Loans and other financing [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 526,434,119 | 488,144,152 |
Other debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 18,885,279 | 4,224,883 |
Fair Value through OCI | 4,185,098 | 21,668,553 |
Financial assets pledged as collateral [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 2,035,559 | 2,362,981 |
Amortized Cost | 16,681,884 | 13,362,055 |
Investments in Equity Investments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 5,711,684 | 6,200,459 |
Cash and due from banks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 175,423,476 | 177,866,400 |
Deposits [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 676,395,735 | 536,033,696 |
Liabilities at fair value through profit or loss [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 1,936,133 | |
Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 57,450 | 1,199,533 |
Other financial liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 97,471,465 | 97,153,624 |
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 13,833,439 | 30,936,161 |
Debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 17,073,898 | 39,808,666 |
Subordinated debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | $ 21,653,546 | $ 21,100,718 |
Fair Values - Schedule of Finan
Fair Values - Schedule of Financial Instruments Measured at Fair Value (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 1,055,279,177 | $ 933,269,606 | |
Liabilities | 872,945,442 | 774,209,789 | |
Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 7,301,643 | 8,019,809 | |
Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 18,885,279 | 4,224,883 | |
Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 16,681,884 | 13,362,055 | |
Fair value level 1 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 30,460,532 | 30,657,499 | |
Fair value level 1 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 23,170,495 | 2,052,669 | |
Fair value level 1 [member] | Corporate Securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,653,980 | 904,405 | |
Fair value level 1 [member] | Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,760,728 | 6,789,474 | |
Fair value level 1 [member] | Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 604,996 | 21,668,553 | |
Fair value level 1 [member] | Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,035,559 | 957,979 | |
Fair value level 1 [member] | Investments in Equity Investments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 234,774 | 220,552 | |
Fair value level 1 [member] | Liabilities at fair value through profit or loss [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 1,936,133 | ||
Fair value level 2 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 133,338,136 | 79,908,991 | |
Fair value level 2 [member] | Argentine central bank's bills and notes [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 128,324,920 | 79,153,628 | |
Fair value level 2 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 911,380 | ||
Fair value level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 547,929 | 1,903,979 | |
Fair value level 2 [member] | Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 31,255 | 50,917 | |
Fair value level 2 [member] | Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 3,580,102 | ||
Fair value level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 57,450 | 1,199,533 | |
Fair value level 3 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 8,452,798 | 15,972,421 | $ 2,924,125 |
Total | 8,452,798 | 15,972,421 | |
Fair value level 3 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 200,768 | 7,069,005 | 983,085 |
Fair value level 3 [member] | Corporate Securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,158,017 | 251,671 | 1,659,863 |
Fair value level 3 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,617,103 | 1,266,836 | |
Fair value level 3 [member] | Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,405,002 | ||
Fair value level 3 [member] | Investments in Equity Investments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 5,476,910 | $ 5,979,907 | $ 281,177 |
Fair Values - Summary of Change
Fair Values - Summary of Changes in Instruments Included in Fair Value Level 3 (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | $ 933,269,606 | |
Ending balance | 1,055,279,177 | $ 933,269,606 |
Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 15,972,421 | 2,924,125 |
Transfers | (1,820,641) | |
Transfers | 11,988,268 | |
Recognition | 23,073,263 | 43,905,475 |
Derecognition | (27,523,204) | (38,673,775) |
Income (Loss) | 2,591,591 | (932,806) |
Inflation Effect | (3,840,632) | (3,238,866) |
Ending balance | 8,452,798 | 15,972,421 |
Government securities [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 7,069,005 | 983,085 |
Transfers | (1,734,412) | |
Transfers | 9,025,790 | |
Recognition | 18,522,437 | 24,808,830 |
Derecognition | (22,946,325) | (26,392,026) |
Income (Loss) | 915,243 | (1,247,071) |
Inflation Effect | (1,625,180) | (109,603) |
Ending balance | 200,768 | 7,069,005 |
Corporate Securities [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 251,671 | 1,659,863 |
Transfers | 123,615 | 29,357 |
Recognition | 3,850,367 | 8,855,903 |
Derecognition | (2,996,313) | (9,903,261) |
Income (Loss) | 99,825 | 372,290 |
Inflation Effect | (171,148) | (762,481) |
Ending balance | 1,158,017 | 251,671 |
Derivative financial instruments [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 1,266,836 | |
Recognition | 1,743,456 | |
Income (Loss) | 686,568 | |
Inflation Effect | (336,301) | (476,620) |
Ending balance | 1,617,103 | 1,266,836 |
Financial assets pledged as collateral [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 13,362,055 | |
Ending balance | 16,681,884 | 13,362,055 |
Financial assets pledged as collateral [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 1,405,002 | |
Transfers | (209,844) | |
Transfers | 2,962,544 | |
Recognition | 700,459 | 1,299,228 |
Derecognition | (1,580,566) | (2,378,488) |
Income (Loss) | (162,288) | (496,746) |
Inflation Effect | (152,763) | 18,464 |
Ending balance | 1,405,002 | |
Investments in Equity Instruments [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 5,979,907 | 281,177 |
Transfers | (29,423) | |
Recognition | 7,198,058 | |
Income (Loss) | 1,052,243 | 438,721 |
Inflation Effect | (1,555,240) | (1,908,626) |
Ending balance | $ 5,476,910 | $ 5,979,907 |
Fair Values - Summary of Assets
Fair Values - Summary of Assets and Liabilities Recorded at Amortized Cost (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | $ 1,055,279,177 | $ 933,269,606 | |
Liabilities | 872,945,442 | 774,209,789 | |
Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 8,452,798 | 15,972,421 | $ 2,924,125 |
Deposits [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 676,395,735 | 536,033,696 | |
Deposits [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 676,454,768 | 536,246,597 | |
Deposits [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 676,454,768 | 536,246,597 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 13,833,439 | 30,936,161 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 9,934,732 | 29,554,907 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | ||
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 9,934,732 | 29,554,907 | |
Debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 17,073,898 | 39,808,666 | |
Debt securities [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 16,207,692 | 40,333,927 | |
Debt securities [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 12,208,069 | 40,333,927 | |
Debt securities [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 3,999,623 | 0 | |
Subordinated debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 21,653,546 | 21,100,718 | |
Subordinated debt securities [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 18,850,289 | 20,384,249 | |
Subordinated debt securities [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 18,850,289 | 20,384,249 | |
Other financial liabilities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 97,471,465 | 97,153,624 | |
Other financial liabilities [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 97,083,349 | 96,516,196 | |
Other financial liabilities [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 97,083,349 | 96,516,196 | |
Cash and due from banks [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 175,423,476 | 177,866,399 | |
Cash and due from banks [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 175,423,476 | 177,866,399 | |
Cash and due from banks [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 175,423,476 | 177,866,399 | |
Repurchase transactions [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 60,995,643 | 40,944,933 | |
Repurchase transactions [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 60,995,643 | 40,944,933 | |
Repurchase transactions [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 60,995,643 | 40,944,933 | |
Loans and other financing [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 526,434,119 | 488,144,152 | |
Loans and other financing [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 527,834,544 | 487,184,349 | |
Loans and other financing [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 527,834,544 | 487,184,349 | |
Other financial assets [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 7,301,643 | 8,019,809 | |
Other financial assets [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 2,760,728 | 6,789,474 | |
Other financial assets [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 7,161,885 | 8,796,107 | |
Other financial assets [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 4,399,582 | 9,228 | |
Other financial assets [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 2,762,303 | 8,786,879 | |
Other debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 18,885,279 | 4,224,883 | |
Other debt securities [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 604,996 | 21,668,553 | |
Other debt securities [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 18,878,854 | 4,233,738 | |
Other debt securities [member] | Fair value [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 18,878,854 | 4,233,738 | |
Financial assets pledged as collateral [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 16,681,884 | 13,362,055 | |
Financial assets pledged as collateral [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 2,035,559 | 957,979 | |
Financial assets pledged as collateral [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 1,405,002 | ||
Financial assets pledged as collateral [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 16,681,884 | 13,362,054 | |
Financial assets pledged as collateral [member] | Fair value [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | $ 16,681,884 | $ 13,362,054 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents [abstract] | ||||
Cash and Due from Banks | $ 175,423,476 | $ 177,866,399 | $ 300,130,550 | |
Argentine Central Bank's Bills and Notes Maturing up to 90 Days | 128,324,920 | 79,153,628 | 146,845,198 | |
Reverse repurchase Transactions Debtors | 60,842,046 | 40,837,234 | 4,309,110 | |
Loans to Financial Institutions | 6,500,000 | 1,964,438 | ||
Overnight Placements in Foreign Banks | 1,661,834 | 10,720,687 | 11,101,128 | |
Mutual Funds | 2,760,728 | 6,764,519 | 8,083,157 | |
Time Deposits | 3,306,869 | 665,630 | 598,963 | |
Total Cash and Cash Equivalents | $ 378,819,873 | $ 316,008,097 | $ 473,032,544 | $ 276,357,893 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Summary of Derivative Instrument Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 13,833,439 | $ 30,936,161 |
Foreign currencies [member] | Currency Forward purchases [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 25,716,730 | 24,787,263 |
Foreign currencies [member] | Currency Forward Sale [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 14,328,423 | 17,225,667 |
Foreign currencies [member] | Currency Forward by customers purchases [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 1,549,356 | 13,531,017 |
Foreign currencies [member] | Forward Currency Customer Sales [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 12,563,375 | 21,060,236 |
Other asset [member] | Interest rate swap 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 82,909 | 490,436 |
Government securities [member] | Currency Forward Sale [member] | Repurchase Transaction [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 61,923,889 | $ 40,799,609 |
Repurchase Transactions - Summa
Repurchase Transactions - Summary of Repo Transactions and Reverse Repurchase Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of repurchase transactions [line items] | ||
Debtors for Reserve Repurchase Transactions of Government Securities | $ 60,842,046 | $ 40,837,234 |
Interest Accrued Receivable for Reserve Repurchase Transactions | 153,597 | 107,699 |
Total Repurchase Transactions - Assets | $ 60,995,643 | $ 40,944,933 |
Repurchase Transactions - Sum_2
Repurchase Transactions - Summary of Repurchase Agreements in Financial Assets Pledged as Collateral and Reverse Repurchase Agreements in Off-Balance Sheet Items (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of repurchase transactions abstract [Abstract] | ||
Reverse Repurchase Transactions recorded in Off-Balance Sheet Items | $ 61,923,889 | $ 40,799,609 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ 10,093,626 | $ 14,860,200 |
Debtors from spot sales of foreign currency pending settlement [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 107,542 | 107,860 |
Debtors from spot sales of government securities pending settlement [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 1,239,870 | 243,816 |
Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 4,819,857 | 6,295,414 |
Mutual funds [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 2,760,728 | 6,789,474 |
Premiums from financial guarantee contracts | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 484,028 | 875,839 |
Others [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 737,305 | 705,705 |
Minus: Allowances [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ (55,704) | $ (157,908) |
Other Financial Assets - Summ_2
Other Financial Assets - Summary of Credit Rating Quality Analysis of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other financial assets [line items] | ||
Other financial assets | $ 10,093,626 | $ 14,860,200 |
Debtors forSaleof Foreign Currency [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 107,542 | |
Debtors for Cash sale of Government Securities to be Settled [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 1,239,870 | |
Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 4,764,153 | |
Mutual funds [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 2,760,728 | |
Premiums From Financial Guarantee Contracts [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 484,028 | |
Other [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 737,305 | |
Accumulated impairment [member] | Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | (55,704) | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Debtors forSaleof Foreign Currency [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 107,542 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Debtors for Cash sale of Government Securities to be Settled [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 1,239,870 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 4,814,695 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Mutual funds [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 2,760,728 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Premiums From Financial Guarantee Contracts [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 484,028 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Other [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 737,305 | |
Financial assets impaired [member] | Gross carrying amount [member] | Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | $ 5,162 |
Loans and Other Financing - Sum
Loans and Other Financing - Summary of Net Loans and Other Financing (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of loans and other financing [line items] | ||
Non-financial Public Sector | $ 334 | $ 9,297 |
Argentine Central Bank (BCRA) | 13,195 | 30,460 |
Financial Institutions | 14,700,600 | 14,697,129 |
Loans | 14,700,600 | 14,697,129 |
Non-financial Private Sector and Residents Abroad | 548,953,562 | 508,591,528 |
Loans | 537,206,661 | 492,932,211 |
Financial Leases | 1,855,070 | 3,030,008 |
Other Financing | 9,891,831 | 12,629,309 |
Less: Allowances | (37,233,572) | (35,184,262) |
Total | 526,434,119 | 488,144,152 |
Advances [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 29,219,431 | 21,635,827 |
Notes [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 143,769,344 | 102,214,820 |
Mortgages [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 16,486,335 | 20,492,746 |
Pledge Loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 11,586,593 | 4,368,295 |
Personal loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 36,504,158 | 37,637,281 |
Credit cards loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 241,793,015 | 203,475,676 |
Other loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 36,431,415 | 84,111,147 |
Accrued interest adjustments and quotation differences receivable [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 23,649,868 | 20,755,403 |
Documented Interest [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | $ (2,233,498) | $ (1,758,984) |
Financial Assets Pledged as C_3
Financial Assets Pledged as Collateral - Summary of Financial Assets Pledged as Collateral (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets pledged as collateral [abstract] | ||
Deposits as Collateral | $ 6,899,443 | $ 5,479,776 |
Special Accounts as Collateral – Argentine Central Bank | 11,444,550 | 10,245,260 |
Trust as Collateral | 373,450 | |
Total | $ 18,717,443 | $ 15,725,036 |
Current Income Tax Assets - Sum
Current Income Tax Assets - Summary of Current Income Tax Assets (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2020 | |
Major components of tax expense (income) [abstract] | ||
Tax Advances | $ 54,577 | $ 197,094 |
Minimum Notional Income Tax – Tax Credit | 564 | |
Total | $ 55,141 | $ 197,094 |
Investments In Equity Instrum_2
Investments In Equity Instruments - Additional Information (Details) - USD ($) $ in Thousands | Feb. 01, 2019 | Dec. 31, 2020 |
Investments In Equity Instruments [Line Items] | ||
Proceeds from sale of business | $ 63,073 | |
Deferred share price | 41,396 | |
AL ZENITH [Member] | ||
Investments In Equity Instruments [Line Items] | ||
Equity interest was transferred | 7.7007% | |
Number of common shares sold | 3,182,444 | |
Compania Financiera Argentina S.A [member] | ||
Investments In Equity Instruments [Line Items] | ||
Final sale price | $ 104,469 |
Equity Investments in Subsidi_3
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Equity Investments in Subsidiaries (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 668,549,353 | $ 668,549,353 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Cobranzas Regionales S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 3,910,000 | $ 8,300 |
Proportion of ownership interest in subsidiary | 100.00% | 83.00% |
Galicia Administradora de Fondos S.A [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 20,000 | $ 20,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Galicia Broker Asesores de Seguros S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 71,309 | $ 71,310 |
Proportion of ownership interest in subsidiary | 99.99% | 99.99% |
Galicia Retiro Compania de Seguros S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 7,727,271 | $ 7,727,271 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Galicia Securities S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 95,392,000 | |
Proportion of ownership interest in subsidiary | 100.00% | |
Galicia Seguros S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,830,883 | $ 1,830,883 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Galicia Warrants S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,000,000 | $ 1,000,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
IGAM LLC [Member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 77,643,963 | $ 73,996,713 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
IGAM Uruguay Agente de Valores S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 12,000 | $ 12,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
INVIU S.A.U. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,000,000 | $ 1,000,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Naranja Digital Compañía Financiera S.A.U. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,012,567,500 | $ 541,631,025 |
Proportion of ownership interest in subsidiary | 100.00% | 83.00% |
Ondara S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 25,776,101 | $ 12,955,140 |
Proportion of ownership interest in subsidiary | 100.00% | 83.85% |
Sudamericana Holding S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 185,653 | $ 185,653 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Tarjeta Naranja S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 2,824 | $ 2,344 |
Proportion of ownership interest in subsidiary | 100.00% | 83.00% |
Tarjetas Regionales S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,680,183,936 | $ 894,552,668 |
Proportion of ownership interest in subsidiary | 100.00% | 83.00% |
Equity Investments in Subsidi_4
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Balances of Subsidiaries, According to the IFRS-based Accounting Framework (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 1,055,279,177 | $ 933,269,606 | ||
Liabilities | 872,945,442 | 774,209,789 | ||
Shareholders' Equity | 182,333,735 | 159,059,817 | $ 129,526,580 | $ 141,318,717 |
Net (Loss) / Income for the Year | 25,532,780 | 32,427,485 | $ (8,020,073) | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 946,019,300 | 839,110,959 | ||
Liabilities | 794,198,155 | 708,010,986 | ||
Shareholders' Equity | 151,821,145 | 131,099,973 | ||
Net (Loss) / Income for the Year | 20,928,333 | 30,336,364 | ||
Cobranzas Regionales S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,484,287 | 702,134 | ||
Liabilities | 1,263,843 | 316,551 | ||
Shareholders' Equity | 220,444 | 385,583 | ||
Net (Loss) / Income for the Year | (567,858) | (299,779) | ||
Galicia Administradora de Fondos S.A [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,382,069 | 612,028 | ||
Liabilities | 468,718 | 98,149 | ||
Shareholders' Equity | 913,351 | 513,879 | ||
Net (Loss) / Income for the Year | 1,121,556 | 302,238 | ||
Galicia Broker Asesores de Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 47,231 | 68,001 | ||
Liabilities | 20,345 | 38,917 | ||
Shareholders' Equity | 26,886 | 29,084 | ||
Net (Loss) / Income for the Year | 40,720 | 44,140 | ||
Galicia Retiro Compania de Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 507,046 | 488,839 | ||
Liabilities | 396,155 | 382,963 | ||
Shareholders' Equity | 110,891 | 105,876 | ||
Net (Loss) / Income for the Year | 3,657 | (27,432) | ||
Galicia Securities S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 2,566,696 | |||
Liabilities | 2,225,050 | |||
Shareholders' Equity | 341,646 | |||
Net (Loss) / Income for the Year | 230,062 | |||
Galicia Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 4,717,752 | |||
Liabilities | 3,052,802 | 2,721,178 | ||
Shareholders' Equity | 1,664,950 | (2,721,178) | ||
Net (Loss) / Income for the Year | 1,211,751 | 795,761 | ||
Galicia Warrants S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 702,846 | 793,298 | ||
Liabilities | 171,752 | 170,513 | ||
Shareholders' Equity | 531,094 | 622,785 | ||
Net (Loss) / Income for the Year | (41,174) | 171,212 | ||
IGAM LLC [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 506,066 | 3,061,060 | ||
Liabilities | 161,584 | 2,877,270 | ||
Shareholders' Equity | 344,482 | 183,790 | ||
Net (Loss) / Income for the Year | 156,518 | 71,697 | ||
IGAM Uruguay Agente de Valores S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 865 | 1,119 | ||
Liabilities | 2,800 | |||
Shareholders' Equity | (1,935) | 1,119 | ||
Net (Loss) / Income for the Year | (2,802) | (23) | ||
INVIU S.A.U. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 433,281 | 3,056,981 | ||
Liabilities | 160,078 | 2,875,233 | ||
Shareholders' Equity | 273,203 | 181,748 | ||
Net (Loss) / Income for the Year | 160,450 | (19,591) | ||
Naranja Digital Comapañía Financiera S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 833,786 | 1,195,023 | ||
Liabilities | 54,920 | 354,860 | ||
Shareholders' Equity | 778,866 | 840,163 | ||
Net (Loss) / Income for the Year | (431,203) | (120,719) | ||
Ondara S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 31,720 | 48,201 | ||
Liabilities | 94 | 1,446 | ||
Shareholders' Equity | 31,626 | 46,755 | ||
Net (Loss) / Income for the Year | (13,533) | (7,226) | ||
Sudamericana Holding S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 5,916,613 | 6,064,430 | ||
Liabilities | 3,329,257 | 3,356,339 | ||
Shareholders' Equity | 2,587,356 | 2,708,091 | ||
Net (Loss) / Income for the Year | 1,318,261 | 862,867 | ||
Tarjeta Naranja S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 101,268 | 86,914,652 | ||
Liabilities | 77,416 | 65,532,267 | ||
Shareholders' Equity | 23,852 | 21,382,385 | ||
Net (Loss) / Income for the Year | 3,315,984 | 1,843,861 | ||
Tarjetas Regionales S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 103,071,416 | 90,010,710 | ||
Liabilities | 77,507,787 | 66,840,431 | ||
Shareholders' Equity | 25,563,629 | 23,170,279 | ||
Net (Loss) / Income for the Year | $ 2,160,052 | $ 888,870 |
Equity Investments in Subsidi_5
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of significant influence is valued by the equity method (Detail) - Play Digital SA [member] - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | ||
Equity Investment | 15.58% | |
Place of Business | Autonomous City of Buenos Aires - Argentina | |
Investments in associates | $ 89,142 | $ 0 |
Equity Investments in Subsidi_6
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Significant Influence is Valued by the Equity Method (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020shares | |
Disclosure of subsidiaries [line items] | |
Decrease in proportion of ownership un associate | 12.976% |
Banco Galicia [member] | |
Disclosure of subsidiaries [line items] | |
Number of shares sold | 31,145,090 |
Equity Investments in Subsidi_7
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Such Investment (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | ||
Contributions | $ 179,986 | |
Profit Sharing in income (loss) for the Year | $ (125,053) | |
Play Digital SA [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in associates | 0 | |
Contributions | 214,195 | |
Profit Sharing in income (loss) for the Year | (125,053) | |
Investments in associates | $ 89,142 | $ 0 |
Equity Investments in Subsidi_8
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Regarding Grupo Financiero Galicia's Associates (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 1,055,279,177 | $ 933,269,606 | ||
Liabilities | 872,945,442 | 774,209,789 | ||
Shareholders' Equity | 182,333,735 | 159,059,817 | $ 129,526,580 | $ 141,318,717 |
Net Income (Loss) | 25,532,780 | $ 32,427,485 | $ (8,020,073) | |
Play Digital SA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 882,481 | |||
Liabilities | 85,374 | |||
Shareholders' Equity | 797,107 | |||
Net Income (Loss) | $ (571,938) |
Equity Investments in Subsidi_9
Equity Investments in Subsidiaries, Associates and Joint Ventures - Additional information (Detail) - ARS ($) $ / shares in Units, $ in Thousands | Sep. 14, 2020 | May 05, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 01, 2020 |
Disclosure of subsidiaries [line items] | ||||||
Share Capital | $ 1,474,692 | $ 1,426,765 | $ 47,927,494 | |||
Net cash flows used in investment activities | $ (6,782,343) | $ (7,102,955) | $ (7,510,667) | |||
Tarjetas Regionales S.A. [member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Proportion of capital stock | 17.00% | 100.00% | ||||
Number of shares issued | 1,680,183,936 | |||||
Par value per share | $ 1 | |||||
Rights per share | one vote per share | |||||
Percentage of voting interests acquired | 0.00% | 17.00% | ||||
Galicia Securities S.A. [member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Percentage of voting interests acquired | 100.00% | |||||
Consideration transferred, acquisition date fair value | $ 32,158 | |||||
Net identifiable assets recognized | 22,956 | |||||
Goodwill recognized as of acquisition date | 9,202 | |||||
Net cash flows used in investment activities | $ 32,158 |
Leases - Summary of detailed in
Leases - Summary of detailed information about lease assets and liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use asset | $ 4,052,593 | $ 5,011,534 |
Lease liabilities | 4,363,406 | 5,129,987 |
Real estate [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use asset | $ 4,052,593 | $ 5,011,534 |
Lease - Summary of detailed inf
Lease - Summary of detailed information about income statement disclosures of leases (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Presentation of leases for lessee [abstract] | ||
Charge for depreciation of right-of-use assets | $ 1,312,301 | $ 1,313,102 |
Interest Expenses | 398,850 | 511,138 |
Expenses related to short-term leases | 141,700 | 33,079 |
Expenses related to low-value assets leases | 167,148 | 102,714 |
Sublease Income | $ 9,790 | $ 2,146 |
Leases - Additional Information
Leases - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Cash outflow for leases | $ 1,333,090 | |
Additions to right-of-use assets | $ 629,385 | $ 251,362 |
Leases - Summary of quantitativ
Leases - Summary of quantitative information about right of use assets and lease liabilities (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Leases By Lessee [Line Items] | ||
Right-of-use asset | $ 4,052,593 | $ 5,011,534 |
Additions | 629,385 | 251,362 |
Cancellation of contracts | (276,025) | |
Depreciation of the year | (1,312,301) | (1,313,102) |
Lease liabilities | 4,363,406 | 5,129,987 |
New contracts | 629,385 | 251,362 |
Cancellation of contracts on leases | (269,503) | |
Leases payment | (1,333,090) | (1,361,874) |
Leases financial cost | 398,850 | 511,138 |
Translation differences and inflation adjustment | (192,223) | (343,913) |
Previously stated [member] | ||
Disclosure Of Leases By Lessee [Line Items] | ||
Right-of-use asset | 5,011,534 | 6,073,274 |
Lease liabilities | 5,129,987 | 6,073,274 |
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | ||
Disclosure Of Leases By Lessee [Line Items] | ||
Depreciation of the year | $ (1,312,301) | $ (1,313,102) |
Deferred Income Tax Assets_Li_3
Deferred Income Tax Assets/Liabilities - Summary of Changes in Deferred Income Tax Assets and Liabilities (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Tax Assets Valuation of Securities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | $ 51,229 | $ 1,946 |
Charge to Income | (51,125) | 50,636 |
Others | (1,353) | |
Ending balance | 104 | 51,229 |
Deferred Tax Assets Loans and Other Financing [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 4,278,791 | 6,083,246 |
Charge to Income | 6,958,396 | (1,804,455) |
Ending balance | 11,237,187 | 4,278,791 |
Deferred Tax Assets Tax Loss Carry-forwards [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 66,615 | 8,060 |
Charge to Income | 246,174 | 58,555 |
Ending balance | 312,789 | 66,615 |
Deferred Tax Assets Other Non-financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 15,463 | 71,195 |
Charge to Income | 14,465 | (55,732) |
Ending balance | 29,928 | 15,463 |
Deferred Tax Assets Non-current Assets Held for Sale [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,743 | |
Charge to Income | (1,743) | |
Deferred Tax Assets Allowance for Impairment [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 9,541 | 52,378 |
Charge to Income | (9,541) | (42,837) |
Ending balance | 9,541 | |
Deferred Tax Assets Other Financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Charge to Income | 1,861 | |
Ending balance | 1,861 | |
Deferred Tax Assets Subordinated Negotiable Obligations [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Charge to Income | 7,064 | |
Ending balance | 7,064 | |
Deferred Tax Assets Provisions [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 2,365,351 | 925,174 |
Charge to Income | (1,577,952) | 1,440,177 |
Ending balance | 787,399 | 2,365,351 |
Deferred Tax Assets Other Non-financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 616,418 | 886,431 |
Charge to Income | (208,028) | (270,013) |
Ending balance | 408,390 | 616,418 |
Deferred Tax Assets Foreign Currency Exchange Difference [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 10,987 | |
Charge to Income | (10,987) | |
Deferred Tax Assets Inflation Adjustment Deferral [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 7,914,417 | |
Charge to Income | 3,704,300 | 7,914,417 |
Ending balance | 11,618,717 | 7,914,417 |
Deferred Tax Assets Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 89,831 | 47,949 |
Charge to Income | 125,895 | 41,882 |
Ending balance | 215,726 | 89,831 |
Deferred Tax Assets Gross [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 15,407,656 | 8,089,109 |
Charge to Income | 9,211,509 | 7,319,900 |
Others | (1,353) | |
Ending balance | 24,619,165 | 15,407,656 |
Deferred Tax Assets Subsidiaries With Net Liability Position [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (11,586,278) | (6,051,423) |
Charge to Income | (3,820,292) | (5,534,855) |
Ending balance | (15,406,570) | (11,586,278) |
Deferred Tax Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 3,821,378 | 2,037,686 |
Charge to Income | 5,391,217 | 1,785,045 |
Others | (1,353) | |
Ending balance | 9,212,595 | 3,821,378 |
Deferred Tax Liabilities Valuation of Securities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (28,583) | (263,623) |
Charge to Income | (1,275,634) | 235,040 |
Ending balance | (1,304,217) | (28,583) |
Deferred Tax Liabilities Other Financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (71,037) | (103,444) |
Charge to Income | 45,911 | 32,407 |
Ending balance | (25,126) | (71,037) |
Deferred Tax Liabilities Loans and Other Financing [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | (20,712) |
Charge to Income | 20,712 | |
Ending balance | 0 | |
Deferred Tax Liabilities Property, Plant and Equipment [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (10,343,737) | (8,260,698) |
Charge to Income | (985,021) | (2,083,039) |
Ending balance | (11,328,758) | (10,343,737) |
Deferred Tax Liabilities Intangible Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (995,392) | (367,136) |
Charge to Income | (1,649,968) | (628,256) |
Ending balance | (2,645,360) | (995,392) |
Deferred Tax Liabilities Other Non-financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (843,466) | (791,093) |
Charge to Income | 661,194 | (52,373) |
Ending balance | (182,272) | (843,466) |
Deferred Tax Liabilities Non-current Assets Held for Sale [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (2,102,102) | 0 |
Charge to Income | 2,102,102 | (2,102,102) |
Ending balance | (2,102,102) | |
Deferred Tax Liabilities Other Financial Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (34,675) | (33,364) |
Charge to Income | (1,311) | |
Ending balance | (34,675) | (34,675) |
Deferred Tax Liabilities Subordinated Negotiable Obligations [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (16,044) | (36,853) |
Charge to Income | 20,809 | |
Ending balance | (16,044) | (16,044) |
Deferred Tax Liabilities Provisions [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (148,504) | 0 |
Charge to Income | 148,504 | (148,504) |
Ending balance | (148,504) | |
Deferred Tax Liabilities Other Non-financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (18,177) | 0 |
Charge to Income | 17,769 | (18,177) |
Ending balance | (408) | (18,177) |
Deferred Tax Liabilities Foreign Currency Exchange Differences [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (4,016) | 0 |
Charge to Income | 1,591 | (4,016) |
Ending balance | (2,425) | (4,016) |
Deferred Tax Liabilities Inflation Adjustment Deferral [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Charge to Income | (3,816) | |
Ending balance | (3,816) | |
Deferred Tax Liabilities Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1,099) | (161,278) |
Charge to Income | 696 | 160,179 |
Ending balance | (403) | (1,099) |
Deferred Tax Liabilities Foreign Gross [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (14,606,832) | (10,038,201) |
Charge to Income | (936,672) | (4,568,631) |
Ending balance | (15,543,504) | (14,606,832) |
Deferred Tax Liabilities Subsidiaries With Net Asset Position [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 11,586,278 | 6,051,423 |
Charge to Income | 3,820,292 | 5,534,855 |
Ending balance | 15,406,570 | 11,586,278 |
Deferred Tax Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (3,020,554) | (3,986,778) |
Charge to Income | 2,883,620 | 966,224 |
Ending balance | $ (136,934) | $ (3,020,554) |
Deferred Income Tax Assets_Li_4
Deferred Income Tax Assets/Liabilities - Summary of Expiration Dates of Tax Loss Carry-forwards (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Year of Generation | 2020 | 2019 | 2018 |
Amount | $ 820,580 | $ 195,185 | $ 26,865 |
Year Due | 2025 | 2024 | 2023 |
Deferred Tax Assets | $ 312,789 | ||
Charged to Income [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred Tax Assets | $ 246,174 | $ 58,555 | $ 8,060 |
Assets_Liabilities for Insura_3
Assets/Liabilities for Insurance Contracts - Assets Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [abstract] | ||
Premiums Receivable | $ 1,857,975 | $ 1,576,061 |
Credits with Reinsurers | 1,996 | 873 |
Fees Receivables | 7,770 | 5,056 |
Others | 17,649 | 26,527 |
Total | $ 1,885,390 | $ 1,608,517 |
Assets_Liabilities for Insura_4
Assets/Liabilities for Insurance Contracts - Liabilities Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [abstract] | ||
Debts with Insured Persons | $ 535,743 | $ 813,836 |
Debts with Reinsurers | 20,829 | 4,561 |
Debts with Co-insurers | 1,525 | 1,999 |
Debts with Producers | 371,664 | 411,691 |
Technical Commitments | 1,114,124 | 1,112,838 |
Others | 55,744 | 0 |
Pending Claims in charge of Reinsures | (38,653) | (345,517) |
Total | $ 2,060,976 | $ 1,999,408 |
Assets_Liabilities for Insura_5
Assets/Liabilities for Insurance Contracts - Summary of Debts with Insureds (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of types of insurance contracts [line items] | ||
Total | $ 535,743 | $ 813,836 |
Property & casualty [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 245,028 | 539,816 |
Property & casualty [member] | Direct Administrative Insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 135,738 | 436,307 |
Property & casualty [member] | Direct Insurance in Lawsuits [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 5,204 | 15,323 |
Property & casualty [member] | Direct Insurance in Mediation [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 1,957 | 2,184 |
Property & casualty [member] | Settled Claims Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 5,802 | 7,635 |
Property & casualty [member] | Pending Claims, Active Reinsurance and Retrocession [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 3,348 | 2,868 |
Property & casualty [member] | Claims Incurred but not Reported (IBNR) [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 92,979 | 75,499 |
Life insurance contracts [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 290,715 | 273,773 |
Life insurance contracts [member] | Direct Administrative Insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 223,359 | 239,264 |
Life insurance contracts [member] | Direct Insurance in Lawsuits [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 12,448 | 7,519 |
Life insurance contracts [member] | Direct Insurance in Mediation [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 7,988 | 8,901 |
Life insurance contracts [member] | Settled Claims Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 26,487 | 568 |
Life insurance contracts [member] | Pending Claims, Active Reinsurance and Retrocession [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 11,949 | 9,394 |
Life insurance contracts [member] | Claims Incurred but not Reported (IBNR) [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 7,898 | 7,979 |
Life insurance contracts [member] | Redemptions Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 586 | 148 |
Life insurance contracts [member] | Creditors for Premiums to be Refunded [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | $ 0 | 0 |
Retirement insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Retirement Insurance | 247 | |
Retirement insurance [member] | Annuities Payable in Arrears [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Retirement Insurance | 11 | |
Retirement insurance [member] | Others [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Retirement Insurance | $ 236 |
Assets_Liabilities for Insura_6
Assets/Liabilities for Insurance Contracts - Summary of Net Gross and Reinsurers Share for Amounts Arising from Insurance Contracts (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | $ 54,088 | $ 30,624 |
Minimum Deposit Premium to Be Accrued | (31,734) | (24,064) |
Unpaid Losses to Be Borne by Reinsurers | (38,653) | (345,517) |
Total | (16,299) | $ (338,957) |
Debts with Reinsurers [Member] | ||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | 52,563 | |
Minimum Deposit Premium to Be Accrued | (31,734) | |
Unpaid Losses to Be Borne by Reinsurers | (38,653) | |
Total | (17,824) | |
Debts with co-insurers [member] | ||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | 1,525 | |
Total | $ 1,525 |
Assets_Liabilities for Insura_7
Assets/Liabilities for Insurance Contracts - Summary of debts with producers (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Debts With Producers [Abstract] | ||
Checking Account—Producers | $ 61,232 | $ 110,950 |
Fees for Premiums Receivable | 291,724 | 259,132 |
Production Expenses Payable | 18,708 | 41,609 |
Total | $ 371,664 | $ 411,691 |
Assets_Liabilities for Insura_8
Assets/Liabilities for Insurance Contracts - Summary of Statutory Reserves (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Statutory Reserves [abstract] | ||
Ongoing and Similar Risk | $ 610,475 | $ 610,592 |
Premiums and Surcharges | 567,071 | 591,720 |
Premiums on Passive Reinsurance | (13,979) | (19,727) |
Active Reinsurance | 57,383 | 38,472 |
Insufficient Premiums | 127 | |
Mathematical Reserves | 503,649 | 502,246 |
Mathematical Reserves for Individual Life Insurance | 154,345 | 157,074 |
Mathematical Reserves for Individual Retirement Insurance | 113,185 | 92,209 |
Mathematical Reserves of Life Annuities | 153,435 | 183,800 |
Provision for the Mathematical Reserve Recomposition | 14 | 38 |
Fluctuation Funds | 82,670 | 69,125 |
Total | $ 1,114,124 | $ 1,112,838 |
Assets_Liabilities for Insura_9
Assets/Liabilities for Insurance Contracts - Summary of Assumption Used for Current Estimates of Future Cash Flows Derived from Insurance Contract (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of types of insurance contracts [line items] | ||
Mortality Table | GAM 94 | GAM 94 |
Investment (Discount) Rate | 2.74% | |
Administrative Expenses | 422.18 for voluntary retirement and 2640.45 for annuities | 453 for voluntary retirement and 620 for annuities |
Coupon Equivalent Rate [Member] | Annuities [Member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 0.88% | |
Coupon Equivalent Rate [Member] | Voluntary Retirement [Member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 1.19% | |
United States of America, Dollars | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 14.77% | |
Argentina, Pesos | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 7.85% | |
Argentina, Pesos | Badlar Rate [Member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 75.00% | |
Argentina, Pesos | Badlar Rate [Member] | Bottom of range [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 34.22% |
Other Non-financial Assets - Su
Other Non-financial Assets - Summary of Other Non-financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | $ 7,634,427 | $ 8,782,988 |
Payments on behalf of third parties [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 446,038 | 380,239 |
Advances of fee to Directors and Syndics [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 10,049 | 6,213 |
Advance to Personnel [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 3,558 | 2,810 |
Tax Credits [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 2,208,858 | 655,859 |
Payments made in Advance [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 2,331,734 | 1,320,929 |
Advances for Purchase of Assets [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 487,578 | 4,032,303 |
Investment properties [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 580,667 | 593,290 |
Other Sundry Assets Measured at Cost [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 1,227,359 | 1,397,084 |
Assets Taken in Defense of Credits [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 5,176 | 5,176 |
Others [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | $ 333,410 | $ 389,085 |
Non-current Assets Held for S_3
Non-current Assets Held for Sale and Discontinued Operations - Summary of Classification of Assets as Assets Held for Sale and Discontinued Operations (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Total | $ 29,328 | $ 53,106 |
Real estate [member] | ||
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Property, Plant and Equipment | $ 29,328 | $ 53,106 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 676,395,735 | $ 536,033,696 |
Domestic currency deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 510,134,336 | 341,083,760 |
Domestic currency deposits [member] | Checking accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 105,026,914 | 91,984,479 |
Domestic currency deposits [member] | Savings accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 182,972,227 | 80,995,302 |
Domestic currency deposits [member] | Time deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 208,712,623 | 157,927,791 |
Domestic currency deposits [member] | Time deposits - UVA [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 5,565,347 | 1,021,392 |
Domestic currency deposits [member] | Others [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,980,204 | 2,309,871 |
Domestic currency deposits [member] | Interest and Adjustments [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 5,877,021 | 6,844,925 |
Foreign currency deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 166,261,399 | 194,949,936 |
Foreign currency deposits [member] | Checking accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 0 | 0 |
Foreign currency deposits [member] | Savings accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 134,011,633 | 160,463,701 |
Foreign currency deposits [member] | Time deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 31,133,525 | 33,122,492 |
Foreign currency deposits [member] | Others [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,023,311 | 1,277,254 |
Foreign currency deposits [member] | Interest and Adjustments [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 92,930 | $ 86,489 |
Other Financial Liabilities - S
Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 97,471,465 | $ 97,153,624 |
Creditors for Purchase to be Settled [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 340,249 | 76,689 |
Collections and Other Transactions on Behalf of Third Parties [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 11,041,676 | 15,977,376 |
Obligations for Purchase Financing [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 74,952,107 | 65,393,841 |
Creditors for Purchase of Foreign Currency to be Settled [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 506,226 | 2,237,420 |
Accrued Fees Payable [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 608,453 | 691,386 |
Sundry Items Subject to Minimum Cash [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 1,249,817 | 881,007 |
Sundry Items not Subject to Minimum Cash [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 3,732,783 | 5,596,529 |
Leases Liabilities [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 4,363,406 | 5,129,987 |
Other Financial Liabilities [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 676,748 | $ 1,169,389 |
Loans from the Argentine Cent_3
Loans from the Argentine Central Bank and Other Financial Institutions - Summary of Loans from the Argentina Central Bank and Other Financial Institutions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 13,833,439 | $ 30,936,161 |
Argentine Central Bank Financing [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 21,368 | 30,562 |
Correspondents [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,927,341 | 509,031 |
Financing from Local Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 7,036,375 | 7,621,082 |
Financing from Foreign Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 14,253,902 | |
Financing from International Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 4,848,355 | $ 8,521,584 |
Loans from the Argentine Cent_4
Loans from the Argentine Central Bank and Other Financial Institutions - Schedule of Credit Lines with Local and International Financial Institutions and Entities (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | $ 13,833,439 | $ 30,936,161 |
Local Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | 7,057,743 | 7,651,644 |
International Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | $ 6,775,696 | $ 23,284,517 |
Argentina, Pesos [member] | Local Institutions [member] | BICE [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | Sundry Dates |
Currency | Ps. | Ps. |
Term | 1,655 days | 1,778 days |
Rate | 30.70% | 47.00% |
Maturity Date | Sundry Dates | Sundry Dates |
Notional Amount | $ 1,330,193 | $ 2,642,859 |
Argentina, Pesos [member] | Local Institutions [member] | Call taken [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.19 | |
Currency | Ps. | |
Term | 3 days | |
Rate | 41.60% | |
Maturity Date | 01.02.20 | |
Notional Amount | $ 682,064 | |
Argentina, Pesos [member] | Local Institutions [member] | Call taken [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.20 | |
Currency | Ps. | |
Term | 5 days | |
Rate | 29.00% | |
Maturity Date | 01.04.21 | |
Notional Amount | $ 210,000 | |
Argentina, Pesos [member] | Local Institutions [member] | Argentine Central Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.20 | 12.30.19 |
Currency | Ps. | Ps. |
Term | 5 days | 3 days |
Maturity Date | 04.01.21 | 02.01.20 |
Notional Amount | $ 21,368 | $ 30,562 |
Argentina, Pesos [member] | Local Institutions [member] | Other Lines [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | Sundry Dates |
Currency | Ps. | Ps. |
Term | 11 days | 364 days |
Rate | 48.10% | 53.90% |
Maturity Date | 11.01.21 | Sundry Dates |
Notional Amount | $ 1 | $ 3,087,284 |
Argentina, Pesos [member] | Local Institutions [member] | Agreements With Banks [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.14.20 | |
Currency | Ps. | |
Term | 365 days | |
Rate | 40.80% | |
Maturity Date | 12.14.21 | |
Notional Amount | $ 3,661,158 | |
US Dollar [member] | Local Institutions [member] | BICE [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | Sundry Dates |
Currency | USD | USD |
Term | 1,705 days | 1,762 days |
Rate | 4.30% | 5.80% |
Maturity Date | Sundry Dates | Sundry Dates |
Notional Amount | $ 1,835,023 | $ 1,208,875 |
US Dollar [member] | International Institutions [member] | Correspondents [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.20 | 12.31.19 |
Currency | USD | USD |
Term | 5 days | 2 days |
Maturity Date | 11.04.21 | 02.01.20 |
Notional Amount | $ 1,927,341 | $ 509,031 |
US Dollar [member] | International Institutions [member] | IFC [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | Sundry Dates |
Currency | USD | USD |
Term | 1,552 days | 1,355 days |
Rate | 3.20% | 4.74% |
Maturity Date | Sundry Dates | Sundry dates |
Notional Amount | $ 4,848,355 | $ 8,521,584 |
US Dollar [member] | International Institutions [member] | Pre financing [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | USD | |
Term | 167 days | |
Rate | 6.03% | |
Maturity Date | Sundry dates | |
Notional Amount | $ 13,572,955 | |
US Dollar [member] | International Institutions [member] | IDB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | USD | |
Term | 361 days | |
Rate | 5.73% | |
Maturity Date | Sundry dates | |
Notional Amount | $ 680,947 |
Debt Securities - Summary of Br
Debt Securities - Summary of Breakdown of the Global Programs for the Issuance of Negotiable Obligations Outstanding (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Grupo Financiero Galicia SA [member] | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 100,000 |
Type of Debt Securities | Simple debt securities not convertible into shares |
Term of Program | 5 years |
Date of Approval by Shareholders' Meeting | 03.09.09 confirmed on 08.02.12 |
Approval by the C.N.V. | Resolution No. 16113 dated 04.29.09 and extended by Resolution No. 17343 dated 05.08.14 and Provision No. DI-2019-63-APN-GE#CNV dated 08.06.19. Authorization of Increase, Resolution No. 17,064 dated 04.25.13 |
Banco De Galicia Y Buenos Aires S.A.U. [member] | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 2,100,000 |
Type of Debt Securities | Simple debt securities, not convertible into shares, subordinated or not, to be adjusted or not, secured or unsecured. |
Term of Program | 5 years |
Date of Approval by Shareholders' Meeting | 04.28.05, 04.14.10, 04.29.15, 11.09.16 and 04.28.20 |
Approval by the C.N.V. | Resolution No. 15228 dated 11.04.05 and extended through Resolution No. 16454 dated 11.11.10 and Resolution No. 17883 dated 11.20.15 and Resolution No. DI-2020-53-APN-GE#CNV dated 11.24.20. Increase of the amount approved by Resolutions No. 17883 dated 11.20.15, No. 18081 dated 06.10.16, No. 18480 dated 01.26.17 and No. 19520 dated 05.17.18 |
Banco De Galicia Y Buenos Aires S.A.U. [member] | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 2,100,000 |
Type of Debt Securities | Simple debt securities not convertible into shares |
Date of Approval by Shareholders' Meeting | 04.25.19 |
Approval by the C.N.V. | Frequent Issuer Registration No. 11, granted by Resolution No. RESCFC-2019-2055-APN-DIR#CNV, dated 11/13/19 of CNV´s Board of Directors |
Tarjeta Naranja S.A. [member] | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 1,000,000 |
Type of Debt Securities | Simple debt securities, not convertible into shares |
Term of Program | 5 years |
Date of Approval by Shareholders' Meeting | 03.08.12 |
Approval by the C.N.V. | Resolution No. 15220 dated 07.14.05 and extended through Resolution No. 17676 dated 05.21.15 and No. DI2020-20-APNGE#CNV dated 03.18.20. Increase of the amount approved by Resolutions No. 15.361 dated 03.23.06, 15.785 dated 11.16.07, 16.571 dated 05.24.11, 16.822 dated 05.23.12 and 19.508 dated 05.10.18 |
Tarjeta Cuyanas S A [member] | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 250,000 |
Type of Debt Securities | Simple debt securities, not convertible into shares |
Term of Program | 5 years |
Date of Approval by Shareholders' Meeting | 03.30.10 confirmed on 04.06.10 and 02.15.13 |
Approval by the C.N.V. | Resolution No. 16328 dated 05.18.10. Increase of the amount approved by Resolution No. 17072 dated 05.02.13 |
Debt Securities - Summary of Un
Debt Securities - Summary of Unsubordinated Debt Securities Outstanding Issued Under the Global Programs (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020ARS ($) | Dec. 31, 2019ARS ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Apr. 25, 2019USD ($) | |
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Book Value | $ 17,073,898 | $ 39,808,666 | |||
Grupo Financiero Galicia SA [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Book Value | $ 12,245,241 | $ 31,409,308 | |||
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Currency | USD | USD | |||
Face Value | $ 250,000 | $ 250,000 | |||
Term | 120 months | 120 months | |||
Maturity Date | 07.19.26 | 07.19.26 | |||
Global program for issuance of unsubordinated debt securities class five series two [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Apr. 26, 2018 | Apr. 26, 2018 | |||
Currency | Ps. | Ps. | |||
Face Value | $ 2,032,833 | $ 2,032,833 | |||
Type | Simple | Simple | |||
Term | 36 months | 36 months | |||
Maturity Date | 04.26.21 | 04.26.21 | |||
Rate | Badlar + 3.50% | Badlar + 3.50% | |||
Issuance Authorized by the C.N.V. | Apr. 18, 2018 | Apr. 18, 2018 | |||
Book Value | $ 1,732,315 | $ 2,454,067 | |||
Global Program For Issuance Of Unsubordinated Debt Securities Class Seven [Member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Nov. 25, 2019 | ||||
Currency | Ps. | ||||
Face Value | $ 4,182,280 | ||||
Type | Simple | ||||
Term | 6 months | ||||
Maturity Date | 05.25.20 | ||||
Rate | Badlar + 4% | ||||
Issuance Authorized by the C.N.V. | Nov. 13, 2019 | ||||
Book Value | $ 5,815,305 | ||||
Global program for issuance of unsubordinated debt securities class thirty four series two [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Jun. 29, 2016 | ||||
Currency | Ps. | ||||
Face Value | $ 475,397 | ||||
Type | Simple | ||||
Term | 1461 days | ||||
Maturity Date | 06.29.20 | ||||
Rate | Minimum 32% Rate/ Badlar + 4.67% | ||||
Issuance Authorized by the C.N.V. | Jun. 21, 2016 | ||||
Book Value | $ 538,916 | ||||
Global program for issuance of unsubordinated debt securities class thirty five series two [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Sep. 27, 2016 | ||||
Currency | Ps. | ||||
Face Value | $ 774,389 | ||||
Type | Simple | ||||
Term | 1461 days | ||||
Maturity Date | 09.27.20 | ||||
Rate | Minimum 26% Rate/ Badlar + 3.99% | ||||
Issuance Authorized by the C.N.V. | Sep. 15, 2016 | ||||
Book Value | $ 891,958 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Class Twenty Five [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Jul. 26, 2016 | ||||
Currency | Ps. | ||||
Face Value | $ 400,000 | ||||
Type | Simple | ||||
Term | 1461 days | ||||
Maturity Date | 07.26.20 | ||||
Rate | Minimum 30% Rate/ Badlar + 3.94% | ||||
Issuance Authorized by the C.N.V. | Jul. 13, 2016 | ||||
Book Value | $ 577,248 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Class Twenty Six Series Two [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Oct. 24, 2016 | ||||
Currency | Ps. | ||||
Face Value | $ 350,237 | ||||
Type | Simple | ||||
Term | 1461 days | ||||
Maturity Date | 10.24.20 | ||||
Rate | Minimum 26% Rate/ Badlar + 4% | ||||
Issuance Authorized by the C.N.V. | Oct. 14, 2016 | ||||
Book Value | $ 507,796 | ||||
Global program for issuance of unsubordinated debt securities class three [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Feb. 17, 2017 | ||||
Currency | Ps. | ||||
Face Value | $ 150,537 | ||||
Type | Simple | ||||
Term | 36 months | ||||
Maturity Date | 02.17.20 | ||||
Rate | Badlar + 2.69% | ||||
Issuance Authorized by the C.N.V. | Feb. 6, 2017 | ||||
Book Value | $ 1,443,765 | ||||
Global program for issuance of unsubordinated debt securities class four [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | May 18, 2017 | ||||
Currency | Ps. | ||||
Face Value | $ 2,000,000 | ||||
Type | Simple | ||||
Term | 36 months | ||||
Maturity Date | 05.18.20 | ||||
Rate | Badlar + 2.98% | ||||
Issuance Authorized by the C.N.V. | May 8, 2017 | ||||
Book Value | $ 2,357,013 | ||||
Global program for issuance ofunsubordinated debt securities class five series one [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Apr. 26, 2018 | ||||
Currency | Ps. | ||||
Face Value | $ 4,209,250 | ||||
Type | Simple | ||||
Term | 24 months | ||||
Maturity Date | 04.26.20 | ||||
Rate | Fixed Rate 25.98% | ||||
Issuance Authorized by the C.N.V. | Apr. 18, 2018 | ||||
Book Value | $ 5,265,353 | ||||
Global program for issuance of unsubordinated debt securities class thirty seven [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Apr. 11, 2017 | Apr. 11, 2017 | |||
Currency | Ps. | Ps. | |||
Face Value | $ 3,845,700 | $ 3,845,700 | |||
Type | Simple | Simple | |||
Term | 1826 days | 1826 days | |||
Maturity Date | 04.11.22 | 04.11.22 | |||
Rate | Minimum 15% Rate/ Badlar + 3.50% | Minimum 15% Rate/ Badlar + 3.50% | |||
Issuance Authorized by the C.N.V. | Mar. 30, 2017 | Mar. 30, 2017 | |||
Book Value | $ 2,644,989 | $ 5,911,129 | |||
Global Program For Issuance Of Unsubordinated Debt Securities Twenty Seven Series Two [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Feb. 10, 2017 | ||||
Currency | Ps. | ||||
Face Value | $ 500,000 | ||||
Type | Simple | ||||
Term | 1095 days | ||||
Maturity Date | 02.10.20 | ||||
Rate | Minimum 23.5% Rate/ Badlar + 3.50% | ||||
Issuance Authorized by the C.N.V. | Feb. 2, 2017 | ||||
Book Value | $ 647,663 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Twenty Eight Series Two [member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Jun. 9, 2017 | Jun. 9, 2017 | |||
Currency | Ps. | Ps. | |||
Face Value | $ 371,825 | $ 371,825 | |||
Type | Simple | Simple | |||
Term | 1461 days | 1461 days | |||
Maturity Date | 06.09.21 | 06.09.21 | |||
Rate | Minimum 25% Rate/ Badlar + 3.70% | Minimum 25% Rate/ Badlar + 3.70% | |||
Issuance Authorized by the C.N.V. | May 29, 2017 | May 29, 2017 | |||
Book Value | $ 362,247 | $ 508,896 | |||
Global program for issuance of unsubordinated debt securities class fourty series two [Member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Apr. 10, 2018 | ||||
Currency | Ps. | ||||
Face Value | $ 1,402,500 | ||||
Type | Simple | ||||
Term | 914 days | ||||
Maturity Date | 10.10.20 | ||||
Rate | Minimum 27% Rate/ Badlar + 3.69% | ||||
Issuance Authorized by the C.N.V. | Mar. 27, 2018 | ||||
Book Value | $ 1,992,957 | ||||
Global program for issuance of unsubordinated debt securities class fourty one series two [Member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Nov. 15, 2018 | ||||
Currency | Ps. | ||||
Face Value | $ 343,555 | ||||
Type | Simple | ||||
Term | 547 days | ||||
Maturity Date | 05.15.20 | ||||
Rate | Badlar + 10% | ||||
Issuance Authorized by the C.N.V. | Nov. 7, 2018 | ||||
Book Value | $ 478,609 | ||||
Global program for issuance of unsubordinated debt securities class fourty three [Member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Feb. 19, 2019 | ||||
Currency | Ps. | ||||
Face Value | $ 1,583,895 | ||||
Type | Simple | ||||
Term | 547 days | ||||
Maturity Date | 08.18.20 | ||||
Rate | Badlar + 7% | ||||
Issuance Authorized by the C.N.V. | Feb. 7, 2019 | ||||
Book Value | $ 2,018,633 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Class Fourty Four [Member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Jul. 8, 2020 | ||||
Currency | Ps. | ||||
Face Value | $ 3,574,897 | ||||
Type | Simple | ||||
Term | 549 days | ||||
Maturity Date | 01.08.22 | ||||
Rate | Badlar + 4% | ||||
Issuance Authorized by the C.N.V. | Jun. 30, 2020 | ||||
Book Value | $ 3,609,011 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Class Fourty Five [Member] | Tarjeta Naranja S.A. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Dec. 18, 2020 | ||||
Currency | Ps. | ||||
Face Value | $ 3,057,000 | ||||
Type | Simple | ||||
Term | 365 days | ||||
Maturity Date | 12.18.21 | ||||
Rate | Badlar + 5% | ||||
Issuance Authorized by the C.N.V. | Dec. 14, 2020 | ||||
Book Value | $ 2,641,113 | ||||
Global Program For Issuance Of Unsubordinated Debt Securities Class Eight [Member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||||
Placement Date | Nov. 20, 2020 | ||||
Currency | Ps. | ||||
Face Value | $ 1,589,722 | ||||
Type | Simple | ||||
Term | 9 months | ||||
Maturity Date | 08.20.21 | ||||
Rate | Badlar + 2.25% | ||||
Issuance Authorized by the C.N.V. | Apr. 20, 2020 | ||||
Book Value | $ 1,255,566 |
Debt Securities - Summary of _2
Debt Securities - Summary of Unsubordinated Debt Securities Outstanding Issued Under the Global Programs (Parenthetical) (Detail) $ in Thousands | Dec. 31, 2019ARS ($) |
Disclosure of Unsubordinated Debt Securities Outstanding [Line Items] | |
Convertible amount | $ 2,360,360 |
Debt Securities - Additional In
Debt Securities - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Carrying amount | $ 17,073,898 | $ 39,808,666 |
Green Bond [member] | ||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Carrying amount | $ 4,828,657 | $ 8,399,358 |
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Negotiable obligation outstanding maturity term | 120 months | 120 months |
Banco De Galicia Y Buenos Aires S.A.U. [member] | Green Bond [member] | ||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Description of debt instrument interest payment | On June 21, 2018, Banco de Galicia y Buenos Aires S.A.U. issued the “Green Bond” which was entirely acquired by the International Finance Corporation. The Green Bond is a 7-year facility, with interest payable every six months. The Green Bond has a 36-month grace period in respect of the repayment of principal, followed by payments in 9 installments due every six months. | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | Global Program for Issuance of Unsubordinated Negotiable Obligations Class Six [member] | ||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Negotiable obligation outstanding maturity term | 6 months |
Debt Securities - Summary of Re
Debt Securities - Summary of Repurchases of Own Debt Securities (Detail) $ in Thousands, $ in Thousands | Dec. 31, 2020ARS ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019ARS ($) | Apr. 25, 2019USD ($) |
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Book Value | $ 17,073,898 | $ 39,808,666 | ||
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | $ 250,000 | $ 250,000 | ||
Issuance of Own Debt Securities Class Five Series Two [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 5,000 | 5,000 | ||
Book Value | 5,330 | 7,330 | ||
Issuance of Own Debt Securities Class Thirty Five Series Two [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 38,500 | |||
Book Value | 50,473 | |||
Issuance of Own Debt Securities Class Thirty Seven [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 9,620 | 1,468 | ||
Book Value | 106,451 | 34,075 | ||
Issuance of Own Debt Securities Class Forty One Series Two [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 15,000 | |||
Book Value | 21,716 | |||
Issuance of Own Debt Securities Class Twenty Six Series Two [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 10,000 | |||
Book Value | 15,351 | |||
Issuance of Own Debt Securities Class Twenty Seven Series Two [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 17,442 | |||
Book Value | 25,330 | |||
Issuance Of Own Debt Securities Class Twenty Eight Series Two [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 18,889 | 8,254 | ||
Book Value | 19,398 | 11,535 | ||
Own debt securities repurchases [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Book Value | 908,958 | 238,903 | ||
Issuance Of Own Debt Securities Class Twenty Five [member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 8,000 | |||
Book Value | 11,319 | |||
Issuance Of Own Debt Securities Class Forty Serie Two [Member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 34,500 | |||
Book Value | 43,535 | |||
Issuance of Own Debt Securities Class Forty Three [Member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 16,500 | |||
Book Value | $ 18,239 | |||
Issuance of Own Debt Securities Class Eight [Member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 79,000 | |||
Book Value | 82,207 | |||
Issuance of Own Debt Securities Class Forty Four [Member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 235,000 | |||
Book Value | 252,052 | |||
Issuance of Own Debt Securities Class Forty Five [Member] | Tarjeta Naranja S.A. [member] | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Nominal Value | 440,000 | |||
Book Value | $ 443,520 |
Subordinated Debt Securities -
Subordinated Debt Securities - Summary of Subordinated Negotiable Obligations Not Convertible Into Shares Issued Under Global Programs (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020ARS ($) | Dec. 31, 2019ARS ($) | Dec. 31, 2020USD ($) | Apr. 25, 2019USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||
Book Value | $ 21,653,546 | $ 21,100,718 | ||
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Placement Date | Jul. 19, 2016 | Jul. 19, 2016 | ||
Currency | USD | USD | ||
Class No. | II | II | ||
Notional Amount | $ 250,000 | $ 250,000 | ||
Term | 120 months | 120 months | ||
Maturity Date | 07.19.26 | 07.19.26 | ||
Issuance Authorized by the C.N.V. | Jun. 23, 2016 | Jun. 23, 2016 | ||
Book Value | $ 21,653,546 | $ 21,100,718 |
Subordinated Debt Securities _2
Subordinated Debt Securities - Summary of Subordinated Negotiable Obligations Not Convertible Into Shares Issued Under Global Programs (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Maturing on July 19 ,2026 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Percentage of principal amount | 100.00% | 100.00% |
Maturing on July 19, 2021 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 8.25% | 8.25% |
Interest payable semi-annually on January 9 and July 19 2017 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.156% | 7.156% |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other provisions [abstract] | ||
For Administrative, Disciplinary and Criminal Penalties | $ 5,306 | $ 7,224 |
For Termination Benefits | 220,824 | 233,287 |
Others | 3,550,167 | 3,499,223 |
Total | $ 3,776,297 | $ 3,739,734 |
Other Non-financial Liabiliti_3
Other Non-financial Liabilities - Summary of Other Non-financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 25,258,228 | $ 23,239,327 |
Creditors for sale of assets [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 594,481 | 601,965 |
Tax withholdings and collections payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 6,755,148 | 5,193,979 |
Payroll and Social Contributions Payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 7,057,226 | 6,446,491 |
Withholdings on Payroll Payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 371,236 | 366,972 |
Fess to Directors and Syndics [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 221,520 | 96,834 |
Value added tax [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 851,232 | 867,885 |
Sundry creditors [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 4,447,128 | 4,097,837 |
Tax payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 3,270,895 | 3,600,729 |
Obligations Arising from Contracts with Customers [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 1,348,700 | 1,654,612 |
Retirement payment orders pending settlement [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 90,588 | 100,941 |
Other non-financial liabilities [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 250,074 | $ 211,082 |
Other Non-financial Liabiliti_4
Other Non-financial Liabilities - Additional Information (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Deferred income | $ 1,114,594 | $ 1,384,660 |
Other Non-financial Liabiliti_5
Other Non-financial Liabilities - Summary of Estimated Use of Liability (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | $ 872,945,442 | $ 774,209,789 |
Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 1,114,594 | |
Not later than one year [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 632,815 | |
Later than one year and not later than two years [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 271,377 | |
Later than Two Years [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | $ 210,402 |
Capital Stock - Additional Info
Capital Stock - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020ARS ($)shares | |
Disclosure of Capital Stock [line items] | |
Expenses related to the capital increase | $ | $ 13,149 |
Tarjetas Regionales SA [Member] | |
Disclosure of Capital Stock [line items] | |
Number of shares issued | shares | 47,927,494 |
Exchange Rate Differences on _3
Exchange Rate Differences on Gold and Foreign Currency - Summary of Gold and Foreign Currency Quotation Differences (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions In Foreign Currency [line items] | |||
Gains losses on exchange differences on translation recognised in profit or loss | $ 7,047,447 | $ 11,831,452 | $ 7,910,257 |
For Purchase sale of foreign currency [member] | |||
Disclosure Of Transactions In Foreign Currency [line items] | |||
Gains losses on exchange differences on translation recognised in profit or loss | 5,958,974 | 17,214,089 | 12,543,415 |
For Valuation of Assets and Liabilities in Foreign Currency [member] | |||
Disclosure Of Transactions In Foreign Currency [line items] | |||
Gains losses on exchange differences on translation recognised in profit or loss | $ 1,088,473 | $ (5,382,637) | $ (4,633,158) |
Other Operating Income - Summar
Other Operating Income - Summary of Other Operating Income (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 22,322,631 | $ 28,769,432 | $ 21,862,980 |
Fees for Product Package [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 6,296,738 | 5,684,656 | 5,719,226 |
Other Adjustments and Interest on sundry Credits [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 5,246,030 | 3,110,290 | 3,349,720 |
Rental of Safety Deposit Boxes [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 1,295,199 | 1,010,452 | 1,080,908 |
Other Financial Income [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 579,211 | 1,577,962 | 353,035 |
Other income from services [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 4,237,539 | 3,341,244 | 6,176,597 |
Income for sale of non-currents assets held for sale [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 9,676,346 | 1,027,022 | |
Other [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 4,667,914 | $ 4,368,482 | $ 4,156,472 |
Underwriting Income from Insu_3
Underwriting Income from Insurance Business - Summary of Underwriting Income from Insurance Business (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of types of insurance contracts [abstract] | |||
Premiums and Surcharges Accrued | $ 7,789,375 | $ 7,607,216 | $ 9,816,413 |
Claims Accrued | (1,126,864) | (1,052,763) | (1,122,301) |
Redemptions | (16,844) | (18,273) | (12,084) |
Fixed and Periodic Annuities | (13,588) | (15,758) | (17,887) |
Production and Operating Expenses | (1,064,782) | (1,515,532) | (2,691,169) |
Other Income and Expenses | (65,490) | (4,021) | 36,195 |
Total | $ 5,501,807 | $ 5,000,869 | $ 6,009,167 |
Personnel Expenses - Summary of
Personnel Expenses - Summary of Personnel Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ 31,825,101 | $ 33,284,961 | $ 35,657,786 |
Payroll [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 19,789,826 | 20,504,481 | 24,414,768 |
Social contributions on payroll [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 4,553,002 | 4,500,774 | 3,592,936 |
Personnel Compensations and Rewards [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 5,811,760 | 6,424,341 | 5,717,492 |
Services for Personnel [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 765,223 | 972,727 | 1,128,695 |
Other Short-term Personnel Expenses [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 781,545 | 746,668 | 687,034 |
Other Long-term Personnel Expenses [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ 123,745 | $ 135,970 | $ 116,861 |
Administrative Expenses - Summa
Administrative Expenses - Summary of Expenses by Nature and Function (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ 31,371,622 | $ 33,105,199 | $ 33,674,305 |
Fees and Remunerations for Services [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,722,767 | 3,980,217 | 2,547,784 |
Directors and syndics fees [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 472,614 | 222,405 | 364,805 |
Advertising and publicity [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 1,742,441 | 2,959,534 | 2,676,622 |
Taxes [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 7,362,438 | 7,051,537 | 7,056,470 |
Maintenance and Repairs of Assets and Systems [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 5,295,507 | 4,911,367 | 2,964,636 |
Electricity and communications [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,371,181 | 2,484,059 | 2,013,488 |
Representation and Travel Expenses [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 58,367 | 172,242 | 214,300 |
Stationery and office supplies [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 419,380 | 513,980 | 441,083 |
Rentals [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 308,848 | 135,793 | 1,730,626 |
Administrative Services under Contract [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 4,230,573 | 3,369,599 | 2,709,994 |
Security [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 1,162,314 | 1,332,404 | 1,169,699 |
Insurance [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 251,297 | 179,940 | 951,802 |
Armored Transportation Services [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 1,559,087 | 2,803,034 | 2,367,736 |
Others [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ 3,414,808 | $ 2,989,088 | $ 6,465,260 |
Depreciation and Impairment o_3
Depreciation and Impairment of Assets - Summary of Depreciation and Impairment of Assets (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation amortization and impairment [abstract] | |||
Depreciation of Property, Plant and Equipment | $ 5,173,340 | $ 4,979,957 | $ 2,336,535 |
Amortization of Organization and Development Expenses | 2,989,613 | 1,909,413 | 1,117,154 |
Others | 121,333 | 5,574 | 6,015 |
Total | $ 8,284,286 | $ 6,894,944 | $ 3,459,704 |
Other Operating Expenses - Summ
Other Operating Expenses - Summary of Other Operating Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 30,763,761 | $ 35,082,818 | $ 35,391,431 |
Turnover tax [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 15,662,817 | 17,813,939 | 18,110,558 |
Contributions to the Deposit Insurance Scheme [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 1,059,292 | 1,175,021 | 1,069,850 |
Charges for Other Provisions [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 2,868,794 | 2,314,952 | 2,211,921 |
Claims [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 375,311 | 457,762 | 650,078 |
Other Financial Expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 286,002 | 2,498,764 | 1,144,612 |
Interest on leases [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 398,850 | 511,138 | |
Credit-card-relates expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 4,486,875 | 6,046,394 | 6,161,264 |
Other Expenses from Services [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 3,920,476 | 2,978,819 | 4,455,969 |
Other expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 1,705,344 | $ 1,286,029 | $ 1,587,179 |
Income Tax_Deferred Tax - Summa
Income Tax/Deferred Tax - Summary of Reconciliation of Income Tax Charged to Income (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major components of tax expense (income) [abstract] | |||
Income Before Income Tax for the Year | $ 43,022,883 | $ 51,046,575 | $ 6,339,833 |
Current Tax Rate | 30.00% | 30.00% | 30.00% |
Income for the Year at Tax Rate | $ (12,906,866) | $ (15,313,973) | $ (1,901,950) |
- Income for Equity Instruments | (37,516) | 434,390 | |
- Untaxed Income | 166,909 | 130,190 | 378,202 |
- Donations and Other Non-deductible Expenses | (32,018) | (21,627) | (138,057) |
- Other | (3,001,548) | (83,089) | (851,579) |
- Allowance for Impairment | (3,954) | ||
- Inflation effect | (10,569,560) | (12,260,928) | (13,426,074) |
- Tax Adjustment under Law 27430 | 695,456 | (116,806) | 965,898 |
- Tax inflation adjustment | 2,895,013 | 1,680,922 | |
- Tax inflation adjustment deferral | 5,090,717 | 7,914,419 | |
Total Income Tax Charge for the Year | (17,699,413) | (18,070,892) | (14,543,124) |
Current Income Tax | (26,644,905) | (20,759,986) | (14,495,373) |
Deferred Tax Charge | 8,274,837 | 2,751,269 | 831,822 |
Allowance for Impairment | (3,954) | ||
Tax Return adjustment from previous fiscal year | 670,655 | (62,175) | (172,442) |
Law 27430 adjustment | (703,177) | ||
Total Income Tax Charge for the Year | $ (17,699,413) | $ (18,070,892) | $ (14,543,124) |
Income Tax_Deferred Tax - Sum_2
Income Tax/Deferred Tax - Summary of Current Income Tax Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Major components of tax expense (income) [abstract] | |||
Current Income Tax | $ (26,644,905) | $ (20,759,986) | $ (14,495,373) |
Tax Advances | 11,417,431 | 6,717,751 | 7,254,160 |
Current Income Tax Liabilities | $ (15,227,474) | $ (14,042,235) | $ (7,241,213) |
Income Tax_Deferred Tax - Addit
Income Tax/Deferred Tax - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | 24 Months Ended | |||||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Recovery of income tax paid | $ 4,403,712 | $ 3,646,842 | $ 866,842 | $ 944,338 | $ 459,319 | $ 433,815 | |||
Tax rate on dividends | 35.00% | ||||||||
Tarjeta Naranja S.A. [member] | Two Thousand Fourteen And Two Thousand And Sixteen [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax claims nominal value receivable | $ 580,164 | ||||||||
Tarjeta Naranja S.A. [member] | Repetition Of Income Tax For Two Thousand And Nineteen [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax claims nominal value receivable | 1,364,949 | ||||||||
Taretja Cuyana [Member] | Two Thousand Fourteen And Two Thousand And Sixteen [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax claims nominal value receivable | 145,478 | ||||||||
Tarjetas Regionales S.A. [member] | Two Thousand And Seventeen [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax claims nominal value receivable | 326,498 | ||||||||
Tarjetas Regionales S.A. [member] | Two Thousand And Eighteen [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax claims nominal value receivable | $ 973,843 | ||||||||
Real estate [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Percentage of personal property and remaining assets qualify as inventories | 8.00% | ||||||||
Percentage of real estate qualify as inventories | 15.00% | ||||||||
Personal property and other assets [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Percentage of personal property and remaining assets qualify as inventories | 10.00% | ||||||||
Changes in tax rates or tax laws enacted or announced [member] | |||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||||||||
Income tax rate | 30.00% | 25.00% | 30.00% | 35.00% | |||||
Tax rate on dividends | 13.00% | 7.00% |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - ARS ($) $ / shares in Units, $ in Thousands | Sep. 22, 2020 | Apr. 25, 2019 | Apr. 24, 2018 | Dec. 31, 2020 | Oct. 05, 2020 | Dec. 31, 2019 |
Disclosure Of Dividends [Line Items] | ||||||
Dividend | $ 2,000,000 | $ 3,622,432 | ||||
Dividend per share | $ 1.40 | |||||
Retained earnings | (102,255,270) | $ (77,955,542) | ||||
Shareholders' Meeting On April 24, 2018 [member] | ||||||
Disclosure Of Dividends [Line Items] | ||||||
Dividend | $ 1,200,000 | 3,386,137 | ||||
Dividend per share | $ 1.40 | |||||
Optional Reserve for Future Income Distribution [member] | ||||||
Disclosure Of Dividends [Line Items] | ||||||
Dividend per share | $ 1.19 | |||||
Retained earnings | 4,977,135 | $ 4,000,000 | ||||
Increase decrease in reserve | $ 1,700,000 | $ 1,892,559 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Earnings Per Share (Detail) - ARS ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings per share [abstract] | |||
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | $ 25,191,673 | $ 32,276,377 | $ (7,258,414) |
Weighted Average Ordinary Shares | 1,442,740 | 1,426,765 | 1,426,765 |
Earnings per Share | $ 17.46 | $ 22.62 | $ (5.09) |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020Segments | |
Disclosure of operating segments [abstract] | |
Number of geographic segments | 1 |
Segment Reporting - Summary of
Segment Reporting - Summary of Operating Segments (Income Statement) (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net Income from interest | $ 76,632,220 | $ 47,417,373 | $ 69,872,546 |
Net fee Income | 36,557,559 | 38,233,236 | 44,756,332 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 69,331,902 | 99,151,496 | 36,341,509 |
Income from Derecognition of Assets Measured at Amortized Cost | (3,129) | 298,801 | 464,175 |
Exchange rate differences on gold and foreign currency | 7,047,447 | 11,831,452 | 7,910,257 |
Other Operating Income | 22,322,631 | 28,769,432 | 21,862,980 |
Income from Insurance Business | 5,501,807 | 5,000,869 | 6,009,167 |
Loan and other Receivables Loss Provisions | (34,679,749) | (30,227,668) | (34,136,247) |
Personnel Expenses | (31,825,101) | (33,284,961) | (35,657,786) |
Administrative Expenses | (31,371,622) | (33,105,199) | (33,674,305) |
Depreciation and Impairment of Assets | (8,284,286) | (6,894,944) | (3,459,704) |
Other Operating Expenses | (30,763,761) | (35,082,818) | (35,391,431) |
Loss on net monetary position | (36,963,213) | (41,928,902) | (37,830,439) |
Operating Income | 43,502,705 | 50,178,167 | 7,067,054 |
Share of profit from Associates and Joint Ventures | (125,053) | ||
Income before Taxes from Continuing Operations | 43,377,652 | 50,178,167 | 7,067,054 |
Income Tax from Continuing Operations | (17,844,872) | (17,750,682) | (14,476,788) |
Net Income / (Loss) from Continuing Operations | 25,532,780 | 32,427,485 | (7,409,734) |
Loss from Discontinued Operations | (544,003) | ||
Income Tax from Discontinued Operations | (66,336) | ||
Net Income / (Loss) for the Year | 25,532,780 | 32,427,485 | (8,020,073) |
Other Comprehensive Income (Loss) | (209,310) | 548,198 | (183,218) |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 24,982,363 | 32,824,575 | (7,441,632) |
Net Income for the Year Attributable to Non-controlling Interests | 341,107 | 151,108 | (761,659) |
Operating segments [member] | Banks [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 58,831,043 | 32,442,139 | 49,448,811 |
Net fee Income | 20,979,744 | 21,760,110 | 26,131,171 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 65,986,310 | 95,152,485 | 33,481,710 |
Income from Derecognition of Assets Measured at Amortized Cost | (3,129) | 298,801 | 464,175 |
Exchange rate differences on gold and foreign currency | 6,024,766 | 11,298,851 | 7,726,274 |
Other Operating Income | 17,172,602 | 23,726,714 | 14,553,653 |
Loan and other Receivables Loss Provisions | (29,971,572) | (22,228,541) | (22,770,955) |
Personnel Expenses | (22,089,728) | (24,303,615) | (24,154,702) |
Administrative Expenses | (21,429,312) | (23,885,413) | (21,900,686) |
Depreciation and Impairment of Assets | (6,116,752) | (5,021,671) | (2,134,670) |
Other Operating Expenses | (23,844,607) | (28,555,476) | (26,853,098) |
Loss on net monetary position | (30,367,677) | (33,702,521) | (27,237,770) |
Operating Income | 35,171,688 | 46,981,863 | 6,753,913 |
Share of profit from Associates and Joint Ventures | 33,214 | 78,244 | 39,842 |
Income before Taxes from Continuing Operations | 35,204,902 | 47,060,107 | 6,793,755 |
Income Tax from Continuing Operations | (14,276,569) | (16,723,744) | (10,491,620) |
Net Income / (Loss) from Continuing Operations | 20,928,333 | 30,336,363 | (3,697,865) |
Loss from Discontinued Operations | (526,463) | ||
Income Tax from Discontinued Operations | (63,469) | ||
Net Income / (Loss) for the Year | 20,928,333 | 30,336,363 | (4,287,797) |
Other Comprehensive Income (Loss) | (206,818) | 562,786 | (161,113) |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 20,721,515 | 30,899,149 | (4,448,910) |
Operating segments [member] | Ecosistema Naranja X [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 16,840,974 | 13,268,259 | 19,221,483 |
Net fee Income | 16,669,667 | 17,674,484 | 18,702,137 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 1,989,036 | 3,505,253 | 1,853,832 |
Exchange rate differences on gold and foreign currency | 370,320 | 165,900 | (106,375) |
Other Operating Income | 3,474,652 | 4,921,986 | 7,711,474 |
Loan and other Receivables Loss Provisions | (4,724,863) | (8,088,703) | (11,202,106) |
Personnel Expenses | (8,079,947) | (7,543,907) | (10,034,170) |
Administrative Expenses | (8,678,399) | (8,247,798) | (10,377,775) |
Depreciation and Impairment of Assets | (1,868,167) | (1,558,316) | (1,117,648) |
Other Operating Expenses | (6,669,879) | (6,378,283) | (8,386,926) |
Loss on net monetary position | (4,918,855) | (6,306,209) | (8,051,841) |
Operating Income | 4,404,539 | 1,412,666 | (1,787,915) |
Income before Taxes from Continuing Operations | 4,404,539 | 1,412,666 | (1,787,915) |
Income Tax from Continuing Operations | (2,245,164) | (523,435) | (2,693,213) |
Net Income / (Loss) from Continuing Operations | 2,159,375 | 889,231 | (4,481,128) |
Net Income / (Loss) for the Year | 2,159,375 | 889,231 | (4,481,128) |
Other Comprehensive Income (Loss) | 210 | ||
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 2,160,262 | 888,870 | (4,480,349) |
Net Income for the Year Attributable to Non-controlling Interests | (677) | 361 | (779) |
Operating segments [member] | Insurance [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 726,890 | 1,144,609 | 886,426 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 77,616 | 97,496 | 45,655 |
Exchange rate differences on gold and foreign currency | (27,351) | (3,767) | 8,668 |
Other Operating Income | 504,655 | 538,849 | 343,021 |
Income from Insurance Business | 3,496,191 | 2,611,331 | 3,376,653 |
Loan and other Receivables Loss Provisions | 16,686 | 89,576 | (163,186) |
Personnel Expenses | (1,217,560) | (1,109,048) | (1,203,784) |
Administrative Expenses | (656,618) | (711,576) | (855,854) |
Depreciation and Impairment of Assets | (270,398) | (291,429) | (191,572) |
Other Operating Expenses | (4,357) | (501) | (842) |
Loss on net monetary position | (815,279) | (1,035,951) | (1,173,907) |
Operating Income | 1,830,475 | 1,329,589 | 1,071,278 |
Income before Taxes from Continuing Operations | 1,830,475 | 1,329,589 | 1,071,278 |
Income Tax from Continuing Operations | (512,214) | (466,721) | (648,744) |
Net Income / (Loss) from Continuing Operations | 1,318,261 | 862,868 | 422,534 |
Net Income / (Loss) for the Year | 1,318,261 | 862,868 | 422,534 |
Other Comprehensive Income (Loss) | (2,861) | (14,588) | (22,105) |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 1,315,400 | 848,280 | 400,429 |
Operating segments [member] | Other businesses [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 6,846 | 72,097 | 257,238 |
Net fee Income | (6,111) | 494 | (4,995) |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 1,279,844 | 396,262 | 960,312 |
Exchange rate differences on gold and foreign currency | 679,712 | 370,468 | 281,690 |
Other Operating Income | 2,364,197 | 1,158,077 | 1,937,686 |
Personnel Expenses | (437,866) | (328,391) | (265,130) |
Administrative Expenses | (728,295) | (434,955) | (604,877) |
Depreciation and Impairment of Assets | (28,969) | (23,528) | (15,814) |
Other Operating Expenses | (259,377) | (157,840) | (150,565) |
Loss on net monetary position | (861,402) | (884,221) | (1,366,921) |
Operating Income | 2,008,579 | 168,463 | 1,028,624 |
Income before Taxes from Continuing Operations | 2,008,579 | 168,463 | 1,028,624 |
Income Tax from Continuing Operations | (810,925) | (36,782) | (643,211) |
Net Income / (Loss) from Continuing Operations | 1,197,654 | 131,681 | 385,413 |
Loss from Discontinued Operations | (17,540) | ||
Income Tax from Discontinued Operations | (2,867) | ||
Net Income / (Loss) for the Year | 1,197,654 | 131,681 | 365,006 |
Other Comprehensive Income (Loss) | 159 | ||
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 1,197,813 | 131,681 | 365,006 |
Adjustments [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 226,467 | 490,269 | 58,588 |
Net fee Income | (1,085,741) | (1,201,852) | (71,981) |
Net Income from Financial Instruments measured at fair value through Profit or Loss | (904) | ||
Other Operating Income | (1,193,475) | (1,576,194) | (2,682,854) |
Income from Insurance Business | 2,005,616 | 2,389,538 | 2,632,514 |
Administrative Expenses | 121,002 | 174,543 | 64,887 |
Other Operating Expenses | 14,459 | 9,282 | |
Operating Income | 87,424 | 285,586 | 1,154 |
Share of profit from Associates and Joint Ventures | (158,267) | (78,244) | (39,842) |
Income before Taxes from Continuing Operations | (70,843) | 207,342 | (38,688) |
Income Tax from Continuing Operations | 0 | ||
Net Income / (Loss) from Continuing Operations | (70,843) | 207,342 | (38,688) |
Net Income / (Loss) for the Year | (70,843) | 207,342 | (38,688) |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | (412,627) | 56,595 | 722,192 |
Net Income for the Year Attributable to Non-controlling Interests | $ 341,784 | $ 150,747 | $ (760,880) |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Operating Segments ( Balance Sheet ) (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | |||
Cash and Due from Banks | $ 175,423,476 | $ 177,866,399 | |
Debt Securities at fair value through profit or loss | 155,419,560 | 89,431,378 | |
Derivative Financial Instruments | 2,165,032 | 3,170,815 | |
Repurchase Transactions | 60,995,643 | 40,944,933 | |
Other Financial Assets | 10,093,626 | 14,860,200 | |
Loans and Other Financing | 526,434,119 | 488,144,152 | |
Other Debt Securities | 23,070,377 | 25,893,436 | |
Financial Assets Pledged as Collateral | 18,717,443 | 15,725,036 | |
Current Income Tax Assets | 197,094 | 55,141 | |
Investments in Equity Instruments | 5,711,684 | 6,200,459 | |
Equity investments in Associates and Joint Ventures | 89,142 | 0 | |
Property, Plant and Equipment | 43,731,420 | 44,877,360 | |
Intangible Assets | 14,468,821 | 11,834,308 | |
Deferred Income Tax Assets | 9,212,595 | 3,821,378 | |
Assets for Insurance Contracts | 1,885,390 | 1,608,517 | |
Other Non-financial Assets | 7,634,427 | 8,782,988 | |
Non-current Assets Held for Sale | 29,328 | 53,106 | |
TOTAL ASSETS | 1,055,279,177 | 933,269,606 | |
Liabilities | |||
Deposits | 676,395,735 | 536,033,696 | |
Liabilities at fair value through Profit or Loss | 0 | 1,936,133 | |
Derivative Financial Instruments | 57,450 | 1,199,533 | |
Other Financial Liabilities | 97,471,465 | 97,153,624 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 13,833,439 | 30,936,161 | |
Debt Securities | 17,073,898 | 39,808,666 | |
Current Income Tax Liabilities | 15,227,474 | 14,042,235 | $ 7,241,213 |
Subordinated Debt Securities | 21,653,546 | 21,100,718 | |
Provisions | 3,776,297 | 3,739,734 | |
Deferred Income Tax Liabilities | 136,934 | 3,020,554 | |
Liabilities for Insurance Contracts | 2,060,976 | 1,999,408 | |
Other Non-financial Liabilities | 25,258,228 | 23,239,327 | |
TOTAL LIABILITIES | 872,945,442 | 774,209,789 | |
Operating segments [member] | Banks [member] | |||
Assets | |||
Cash and Due from Banks | 172,308,807 | 175,814,936 | |
Debt Securities at fair value through profit or loss | 155,892,300 | 89,441,583 | |
Derivative Financial Instruments | 2,165,032 | 3,170,815 | |
Repurchase Transactions | 60,995,643 | 40,944,933 | |
Other Financial Assets | 6,920,271 | 7,780,625 | |
Loans and Other Financing | 439,306,303 | 421,122,047 | |
Other Debt Securities | 21,448,751 | 21,962,083 | |
Financial Assets Pledged as Collateral | 18,639,697 | 15,713,219 | |
Current Income Tax Assets | 0 | ||
Investments in Equity Instruments | 5,709,565 | 6,200,459 | |
Equity investments in Associates and Joint Ventures | 480,530 | 419,309 | |
Property, Plant and Equipment | 38,189,687 | 39,565,282 | |
Intangible Assets | 12,850,061 | 9,698,756 | |
Deferred Income Tax Assets | 5,300,716 | ||
Other Non-financial Assets | 5,782,609 | 7,223,806 | |
Non-current Assets Held for Sale | 29,328 | 53,106 | |
TOTAL ASSETS | 946,019,300 | 839,110,959 | |
Liabilities | |||
Deposits | 678,102,758 | 541,621,151 | |
Liabilities at fair value through Profit or Loss | 1,936,133 | ||
Derivative Financial Instruments | 57,450 | 1,199,533 | |
Other Financial Liabilities | 40,888,983 | 51,640,464 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 10,192,180 | 27,848,878 | |
Debt Securities | 7,904,075 | 25,742,191 | |
Current Income Tax Liabilities | 13,030,588 | 12,544,435 | |
Subordinated Debt Securities | 21,653,546 | 21,100,718 | |
Provisions | 3,432,729 | 3,379,110 | |
Deferred Income Tax Liabilities | 2,577,307 | ||
Other Non-financial Liabilities | 18,935,846 | 18,421,066 | |
TOTAL LIABILITIES | 794,198,155 | 708,010,986 | |
Operating segments [member] | Ecosistema Naranja X [member] | |||
Assets | |||
Cash and Due from Banks | 2,188,741 | 5,618,935 | |
Debt Securities at fair value through profit or loss | 91,762 | ||
Other Financial Assets | 1,281,954 | 6,186,615 | |
Loans and Other Financing | 88,545,787 | 65,928,775 | |
Other Debt Securities | 174,456 | 1,786,664 | |
Financial Assets Pledged as Collateral | 9,126 | 9,617 | |
Current Income Tax Assets | 36,242 | 20,983 | |
Property, Plant and Equipment | 4,859,111 | 4,636,630 | |
Intangible Assets | 1,534,001 | 1,995,236 | |
Deferred Income Tax Assets | 3,625,102 | 3,428,499 | |
Other Non-financial Assets | 725,134 | 398,757 | |
TOTAL ASSETS | 103,071,416 | 90,010,711 | |
Liabilities | |||
Deposits | 5 | ||
Other Financial Liabilities | 55,323,990 | 43,416,663 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 5,794,722 | 3,999,344 | |
Debt Securities | 10,078,781 | 14,305,377 | |
Current Income Tax Liabilities | 1,189,775 | 1,249,899 | |
Provisions | 145,058 | 147,522 | |
Other Non-financial Liabilities | 4,975,456 | 3,721,626 | |
TOTAL LIABILITIES | 77,507,787 | 66,840,431 | |
Operating segments [member] | Insurance [member] | |||
Assets | |||
Cash and Due from Banks | 39,612 | 103,152 | |
Debt Securities at fair value through profit or loss | 49,837 | ||
Other Financial Assets | 815,104 | 435,406 | |
Loans and Other Financing | 473,165 | 358,620 | |
Other Debt Securities | 1,617,826 | 2,323,480 | |
Financial Assets Pledged as Collateral | 555 | ||
Current Income Tax Assets | 160,852 | ||
Property, Plant and Equipment | 646,688 | 621,167 | |
Intangible Assets | 73,415 | 140,317 | |
Deferred Income Tax Assets | 176,642 | 260,000 | |
Assets for Insurance Contracts | 1,885,937 | 1,608,517 | |
Other Non-financial Assets | 27,372 | 163,377 | |
TOTAL ASSETS | 5,916,613 | 6,064,428 | |
Liabilities | |||
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 4,205 | |
Current Income Tax Liabilities | 446,188 | 203,138 | |
Provisions | 136,010 | 174,984 | |
Deferred Income Tax Liabilities | 324,818 | ||
Liabilities for Insurance Contracts | 2,060,999 | 2,004,865 | |
Other Non-financial Liabilities | 686,060 | 644,329 | |
TOTAL LIABILITIES | 3,329,257 | 3,356,339 | |
Operating segments [member] | Other businesses [member] | |||
Assets | |||
Cash and Due from Banks | 2,278,879 | 963,415 | |
Debt Securities at fair value through profit or loss | 173,800 | 70 | |
Other Financial Assets | 1,077,956 | 467,944 | |
Loans and Other Financing | 1,463,755 | 3,428,355 | |
Financial Assets Pledged as Collateral | 68,620 | 2,200 | |
Current Income Tax Assets | 34,158 | ||
Investments in Equity Instruments | 2,119 | ||
Property, Plant and Equipment | 35,934 | 54,281 | |
Intangible Assets | 4,436,289 | 1,243,959 | |
Deferred Income Tax Assets | 110,135 | 132,879 | |
Other Non-financial Assets | 1,099,312 | 1,000,001 | |
TOTAL ASSETS | 10,746,799 | 7,327,262 | |
Liabilities | |||
Other Financial Liabilities | 2,107,556 | 2,844,848 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 1 | ||
Current Income Tax Liabilities | 560,923 | 44,763 | |
Provisions | 62,500 | 38,118 | |
Deferred Income Tax Liabilities | 136,934 | 118,429 | |
Other Non-financial Liabilities | 700,947 | 536,361 | |
TOTAL LIABILITIES | 3,568,861 | 3,582,519 | |
Adjustments [member] | |||
Assets | |||
Cash and Due from Banks | (1,392,563) | (4,634,039) | |
Debt Securities at fair value through profit or loss | (738,302) | (60,112) | |
Other Financial Assets | (1,659) | (10,390) | |
Loans and Other Financing | (3,354,891) | (2,693,645) | |
Other Debt Securities | (170,656) | (178,791) | |
Financial Assets Pledged as Collateral | (555) | ||
Equity investments in Associates and Joint Ventures | (391,388) | (419,309) | |
Property, Plant and Equipment | 0 | ||
Intangible Assets | (4,424,945) | (1,243,960) | |
Assets for Insurance Contracts | (547) | ||
Other Non-financial Assets | (2,953) | ||
TOTAL ASSETS | (10,474,951) | (9,243,754) | |
Liabilities | |||
Deposits | (1,707,028) | (5,587,455) | |
Other Financial Liabilities | (849,064) | (748,351) | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | (2,153,464) | (916,266) | |
Debt Securities | (908,958) | (238,902) | |
Liabilities for Insurance Contracts | (23) | (5,457) | |
Other Non-financial Liabilities | (40,081) | (84,055) | |
TOTAL LIABILITIES | $ (5,658,618) | $ (7,580,486) |
Capital Management and Risk P_3
Capital Management and Risk Policies - Summary of Regulatory Capital (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of regulatory capital [abstract] | ||
Basic Shareholders´ Equity | $ 162,178,965 | $ 74,314,620 |
Equity Tier 1 | 129,584,461 | 61,392,153 |
(Deductible Items) | (32,594,504) | (12,922,467) |
Complementing shareholders' Equity | 27,477,066 | 19,392,341 |
Equity Tier 2 | 27,477,066 | 19,392,341 |
Regulatory Capital (RPC) | $ 157,061,527 | $ 80,784,494 |
Capital Management and Risk P_4
Capital Management and Risk Policies - Summary of Breakdown of Minimum Capital Requirement (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of regulatory capital [abstract] | ||
Credit Risk | $ 42,457,859 | $ 29,148,582 |
Market Risk | 1,419,264 | 904,939 |
Operational Risk | 12,192,078 | 7,608,102 |
Minimum Capital Requirement | 56,069,201 | 37,661,623 |
Integration | 157,061,527 | 80,784,494 |
Excess | $ 100,992,326 | $ 43,122,871 |
Capital Management and Risk P_5
Capital Management and Risk Policies - Summary of Exposure to Foreign Exchange Risk as of Year End by Type of Currency (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Derivatives | $ 57,450 | $ 1,199,533 |
Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 216,846 | 269,000 |
Monetary Financial Liabilities | (211,779) | (267,854) |
Derivatives | 0 | 30 |
Net Position | 5,067 | 1,176 |
US Dollar [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 212,122 | 265,631 |
Monetary Financial Liabilities | (210,940) | (267,422) |
Derivatives | 30 | |
Net Position | 1,182 | (1,761) |
Euro [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 4,401 | 3,105 |
Monetary Financial Liabilities | (802) | (399) |
Net Position | 3,599 | 2,706 |
Canadian Dollar [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 134 | 116 |
Monetary Financial Liabilities | (4) | (5) |
Net Position | 130 | 111 |
Real [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 34 | 1 |
Net Position | 34 | 1 |
Swiss franc [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 52 | 44 |
Monetary Financial Liabilities | (30) | (23) |
Net Position | 22 | 21 |
Others [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 103 | 103 |
Monetary Financial Liabilities | (3) | (5) |
Net Position | $ 100 | $ 98 |
Capital Management and Risk P_6
Capital Management and Risk Policies - Summary of Exposure to Foreign Exchange Risk as of Year End by Change in Type of Currency (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Net (Loss) / Income for the Year | $ 25,532,780 | $ 32,427,485 | $ (8,020,073) | |
Shareholders' Equity | $ 182,333,735 | 159,059,817 | $ 129,526,580 | $ 141,318,717 |
Currency risk [member] | Top of range [member] | US Dollar [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 118 | 176 | ||
Shareholders' Equity | $ 1,300 | (1,937) | ||
Currency risk [member] | Top of range [member] | Euro [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 360 | 271 | ||
Shareholders' Equity | $ 3,959 | 2,977 | ||
Currency risk [member] | Top of range [member] | Canadian Dollar [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 13 | 11 | ||
Shareholders' Equity | $ 143 | 121 | ||
Currency risk [member] | Top of range [member] | Real [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 3 | |||
Shareholders' Equity | $ 37 | 1 | ||
Currency risk [member] | Top of range [member] | Swiss franc [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 2 | 1 | ||
Shareholders' Equity | $ 24 | 22 | ||
Currency risk [member] | Top of range [member] | Others [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | 10.00% | |||
Net (Loss) / Income for the Year | $ 10 | 10 | ||
Shareholders' Equity | $ 110 | 108 | ||
Currency risk [member] | Bottom of range [member] | US Dollar [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (118) | (176) | ||
Shareholders' Equity | $ 1,064 | (1,585) | ||
Currency risk [member] | Bottom of range [member] | Euro [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (360) | (271) | ||
Shareholders' Equity | $ 3,239 | 2,436 | ||
Currency risk [member] | Bottom of range [member] | Canadian Dollar [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (13) | (11) | ||
Shareholders' Equity | $ 117 | 99 | ||
Currency risk [member] | Bottom of range [member] | Real [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (3) | |||
Shareholders' Equity | $ 31 | 1 | ||
Currency risk [member] | Bottom of range [member] | Swiss franc [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (2) | (1) | ||
Shareholders' Equity | $ 20 | 18 | ||
Currency risk [member] | Bottom of range [member] | Others [member] | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change percentage | (10.00%) | |||
Net (Loss) / Income for the Year | $ (10) | (10) | ||
Shareholders' Equity | $ 90 | $ 88 |
Capital Management and Risk P_7
Capital Management and Risk Policies - Schedule of Residual Value of Assets and Liabilities, Classified by Interest Renegotiation Date or Maturity Date (Detail) - Interest rate risk [member] - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | $ 937,629,877 | $ 815,719,765 |
Total Financial Liabilities | 823,155,219 | 689,293,939 |
Net Amount | 114,474,658 | 126,425,826 |
Less than one month [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 329,561,051 | 274,590,418 |
Total Financial Liabilities | 525,873,217 | 377,563,393 |
Net Amount | (196,312,166) | (102,972,975) |
3 months [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 81,048,347 | 69,553,555 |
Total Financial Liabilities | 66,622,888 | 61,431,217 |
Net Amount | 14,425,459 | 8,122,338 |
6 months [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 73,404,578 | 69,742,708 |
Total Financial Liabilities | 17,447,849 | 33,503,067 |
Net Amount | 55,956,729 | 36,239,641 |
Later than six months and not later than twelve months [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 122,032,475 | 61,211,792 |
Total Financial Liabilities | 8,728,360 | 4,678,139 |
Net Amount | 113,304,115 | 56,533,653 |
Later than one year [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 331,583,426 | 340,621,292 |
Total Financial Liabilities | 204,482,905 | 212,118,123 |
Net Amount | $ 127,100,521 | $ 128,503,169 |
Capital Management and Risk P_8
Capital Management and Risk Policies - Schedule of Sensitivity to Potential Additional Changes in Interest Rates (Detail) | 12 Months Ended |
Dec. 31, 2020ARS ($) | |
Decrease In Interest Rate [member] | |
Disclosure of sensitivity analysis market risk [line items] | |
Additional Changes to the Interest Rate | (1.00%) |
Decrease In Interest Rate [member] | Interest rate risk [member] | |
Disclosure of sensitivity analysis market risk [line items] | |
Increase/(Decrease) in Income before Income Tax in Pesos | $ (1,130,532) |
Increase/(Decrease) in Shareholders' Equity in Pesos | $ (1) |
Increase In Interest Rate [member] | Interest rate risk [member] | |
Disclosure of sensitivity analysis market risk [line items] | |
Additional Changes to the Interest Rate | 1.00% |
Increase/(Decrease) in Income before Income Tax in Pesos | $ 1,130,532 |
Increase/(Decrease) in Shareholders' Equity in Pesos | $ 1 |
Capital Management and Risk P_9
Capital Management and Risk Policies - Schedule of Analysis of Maturities of Assets and Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Derivative Financial Instruments | $ 2,165,032 | $ 3,170,815 |
Other Financial Assets | 10,093,626 | 14,860,200 |
Loans and Other Financing | 526,434,119 | 488,144,152 |
Liabilities | ||
Liabilities at fair value through profit or loss | 0 | 1,936,133 |
Derivative Financial Instruments | 57,450 | 1,199,533 |
Other Financial Liabilities | 97,471,465 | 97,153,624 |
Lease liabilities | 4,363,406 | 5,129,987 |
Subordinated Debt Securities | 21,653,546 | 21,100,718 |
Liquidity risk [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 156,906,873 | 89,814,497 |
Derivative Financial Instruments | 547,929 | 1,903,979 |
Repurchase Transactions | 61,778,505 | 41,828,680 |
Other Financial Assets | 10,966,439 | 11,221,494 |
Loans and Other Financing | 629,551,478 | 606,152,859 |
Other Debt Securities | 25,403,983 | 28,143,083 |
Financial Assets Pledged as Collateral | 18,717,443 | 15,725,036 |
Investments in Equity Instruments | 3,745,893 | 3,400,065 |
Liabilities | ||
Deposits | 684,290,760 | 547,933,344 |
Liabilities at fair value through profit or loss | 1,936,133 | |
Derivative Financial Instruments | 57,450 | 1,199,533 |
Other Financial Liabilities | 93,136,819 | 92,068,438 |
Lease liabilities | 6,751,482 | 5,129,987 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 15,773,442 | 34,034,158 |
Debt Securities | 21,297,585 | 49,959,305 |
Subordinated Debt Securities | 31,142,875 | 31,931,582 |
Liquidity risk [member] | Less than one month [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 152,729,877 | 88,378,198 |
Derivative Financial Instruments | 547,929 | 1,903,979 |
Repurchase Transactions | 61,778,505 | 41,828,680 |
Other Financial Assets | 7,677,635 | 11,221,494 |
Loans and Other Financing | 165,672,357 | 180,043,930 |
Other Debt Securities | 25,403,983 | 28,143,083 |
Financial Assets Pledged as Collateral | 18,717,443 | 15,725,036 |
Investments in Equity Instruments | 3,745,893 | 3,400,065 |
Liabilities | ||
Deposits | 636,596,852 | 488,012,093 |
Liabilities at fair value through profit or loss | 1,936,133 | |
Derivative Financial Instruments | 57,450 | 1,199,533 |
Other Financial Liabilities | 93,004,399 | 92,068,438 |
Lease liabilities | 154,855 | 83,613 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 2,607,987 | 5,064,925 |
Debt Securities | 736,438 | 4,721,798 |
Subordinated Debt Securities | 855,858 | 827,691 |
Liquidity risk [member] | Later than one month and not later than six months [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 564,114 | 1,197,484 |
Other Financial Assets | 100,805 | |
Loans and Other Financing | 204,326,574 | 178,211,585 |
Liabilities | ||
Deposits | 45,007,577 | 56,841,558 |
Other Financial Liabilities | 24,479 | |
Lease liabilities | 724,867 | 434,437 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 3,290,896 | 14,694,200 |
Debt Securities | 6,156,557 | 24,857,077 |
Liquidity risk [member] | Later than six months and not later than twelve months [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 3,180,660 | 19,642 |
Other Financial Assets | 122,168 | |
Loans and Other Financing | 135,444,263 | 80,880,191 |
Liabilities | ||
Deposits | 2,563,927 | 2,974,312 |
Other Financial Liabilities | 27,441 | |
Lease liabilities | 795,298 | 542,376 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 6,137,695 | 5,828,763 |
Debt Securities | 8,055,337 | 5,653,122 |
Subordinated Debt Securities | 855,858 | 827,691 |
Liquidity risk [member] | Later than one year and not later than five years [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 432,222 | 212,016 |
Other Financial Assets | 3,065,831 | |
Loans and Other Financing | 93,566,134 | 131,022,366 |
Liabilities | ||
Deposits | 122,377 | 105,337 |
Other Financial Liabilities | 80,500 | |
Lease liabilities | 3,700,393 | 2,630,481 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 3,736,864 | 8,446,270 |
Debt Securities | 6,349,253 | 13,796,603 |
Subordinated Debt Securities | 7,559,716 | 7,279,079 |
Liquidity risk [member] | Later than five years [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 7,157 | |
Loans and Other Financing | 30,542,150 | 35,994,787 |
Liabilities | ||
Deposits | 27 | 44 |
Lease liabilities | 1,376,069 | 1,439,080 |
Debt Securities | 930,705 | |
Subordinated Debt Securities | $ 21,871,443 | $ 22,997,121 |
Capital Management and Risk _10
Capital Management and Risk Policies - Schedule of Credit Quality of Debt Securities (Detail) - Credit risk [member] - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 155,419,560 | $ 89,431,378 |
AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 20,003,654 | 8,907,868 |
AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 90,495 | 67,532 |
AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 56,802 | 130,577 |
Aa2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 32,226 | |
AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 942,225 | 14,920 |
A+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,263 | 175,635 |
A1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 180,683 | |
A1+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 820,913 | 639,014 |
A [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 21,481 | |
A- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 40,605 | 48,862 |
A3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 200,768 | 102,484 |
Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 30,226 | 103,666 |
Baa3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 13,293 | |
BBB [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 33,455 | |
B [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 539,371 | |
B- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,336 | |
CC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 79,190,590 | |
A2 [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 108 | |
CCC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 4,103,429 | |
C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 128,342,018 | 10,439 |
Government bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,486,355 | 472,078 |
Government bonds [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,335,283 | 422,241 |
Government bonds [member] | AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 47,643 | |
Government bonds [member] | BBB [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 12,875 | |
Government bonds [member] | CC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 36,962 | |
Government bonds [member] | CCC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 4,103,429 | |
Provincial bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 740,139 | 0 |
Provincial bonds [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial bonds [member] | A3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 200,768 | |
Provincial bonds [member] | B [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 539,371 | |
Autonomous city of buenos aires bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 91,199 | 163,969 |
Autonomous city of buenos aires bonds [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous city of buenos aires bonds [member] | AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 90,199 | 60,303 |
Autonomous city of buenos aires bonds [member] | Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,000 | 103,666 |
Treasury bills [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 16,964,950 | 8,485,627 |
Treasury bills [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 16,964,950 | 8,485,627 |
Argentine Central Banks Bills [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 128,324,920 | 79,153,628 |
Argentine Central Banks Bills [member] | CC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 79,153,628 | |
Argentine Central Banks Bills [member] | C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 128,324,920 | |
Private Securities [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,811,997 | 1,156,076 |
Private Securities [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 703,421 | |
Private Securities [member] | AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 296 | 7,229 |
Private Securities [member] | AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 56,802 | 130,577 |
Private Securities [member] | Aa2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 32,226 | |
Private Securities [member] | AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 894,582 | 14,920 |
Private Securities [member] | A+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,263 | 175,635 |
Private Securities [member] | A1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 180,683 | |
Private Securities [member] | A1+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 820,913 | 639,014 |
Private Securities [member] | A [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 21,481 | |
Private Securities [member] | A- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 40,605 | 48,862 |
Private Securities [member] | A3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 102,484 | |
Private Securities [member] | Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 29,226 | |
Private Securities [member] | Baa3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 13,293 | |
Private Securities [member] | BBB [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 20,580 | |
Private Securities [member] | B- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,336 | |
Private Securities [member] | A2 [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 108 | |
Private Securities [member] | C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 17,098 | $ 10,439 |
Capital Management and Risk _11
Capital Management and Risk Policies - Summary of Retail Portfolios (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Retail Portfolio [member] | A,B1 [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | Between 30 and 90 past due days |
Retail Portfolio [member] | C [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | It does not apply to defaulted clients |
Retail Like Portfolio [member] | A,B1 [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | Between 30 and 90 past due days |
Retail Like Portfolio [member] | C [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | It does not apply to defaulted clients |
Wholesale Portfolio [member] | C [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | It does not apply to defaulted clients |
Wholesale Portfolio [member] | A [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Extra conditions to be considered stage 2 | Probability of Default (“PD”) or Score(*) with impairment risk |
Capital Management and Risk _12
Capital Management and Risk Policies - Additional information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Credit Quality Of Debt Securities [abstract] | |
Percentage of central scenario probability of occurrence | 70.00% |
Percentage of downside scenario probability of occurrence | 15.00% |
Percentage of upside scenario probability of occurrence | 15.00% |
Capital Management and Risk _13
Capital Management and Risk Policies - Summary of Scenario Probabilities (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Retail, Retail Like and Wholesale [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Base | 70.00% |
Optimistic | 15.00% |
Pessimistic | 15.00% |
Naranja [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Base | 70.00% |
Optimistic | 15.00% |
Pessimistic | 15.00% |
Capital Management and Risk _14
Capital Management and Risk Policies - Summary of key macroeconomic variables (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Q I - 2020 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (2.80%) |
Unemployment Rate | 7.60% |
Real Salary | (16.60%) |
Badlar | 48.80% |
Q I - 2020 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (2.20%) |
Unemployment Rate | 16.30% |
Real Salary | (13.20%) |
Badlar | 38.30% |
Q I - 2020 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (3.10%) |
Unemployment Rate | 20.10% |
Real Salary | (10.90%) |
Badlar | 15.00% |
Q II - 2020 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 15.60% |
Unemployment Rate | (15.60%) |
Real Salary | (8.60%) |
Badlar | 42.20% |
Q II - 2020 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 17.80% |
Unemployment Rate | (10.10%) |
Real Salary | (7.70%) |
Badlar | 25.90% |
Q II - 2020 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 14.20% |
Unemployment Rate | 6.20% |
Real Salary | (4.70%) |
Badlar | 35.40% |
Q III - 2020 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 2.50% |
Unemployment Rate | (10.40%) |
Real Salary | (1.70%) |
Badlar | 31.10% |
Q III - 2020 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 5.10% |
Unemployment Rate | (11.30%) |
Real Salary | (2.10%) |
Badlar | 13.00% |
Q III - 2020 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (3.80%) |
Unemployment Rate | 21.90% |
Real Salary | (3.70%) |
Badlar | 101.70% |
Q IV - 2020 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (0.70%) |
Unemployment Rate | (12.30%) |
Real Salary | 3.30% |
Badlar | 4.30% |
Q IV - 2020 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 2.70% |
Unemployment Rate | (15.30%) |
Real Salary | 4.30% |
Badlar | (13.00%) |
Q IV - 2020 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (10.20%) |
Unemployment Rate | 34.80% |
Real Salary | (5.90%) |
Badlar | 44.90% |
Capital Management and Risk _15
Capital Management and Risk Policies Summary of Sensitivity Analysis to Assess Impact of Volatility on Macroeconomic Variables on Expected Credit Losses (Detail) $ in Thousands, $ in Thousands | 12 Months Ended | 24 Months Ended | |
Dec. 31, 2020ARS ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019ARS ($) | |
Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | $ 37,332,952 | ||
Sensitivity analysis amount | 38,008,542 | ||
Retail, Retail Like and Wholesale [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 31,187,671 | ||
Sensitivity analysis amount | 31,703,980 | ||
Naranja [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 6,145,281 | ||
Sensitivity analysis amount | $ 6,304,562 | ||
Regular Scenario[member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario rate | 70.00% | 70.00% | |
Sensitivity analysis rate | 45.00% | 45.00% | |
Macroeconomic scenario probability | 70.00% | ||
GDP | (5.00%) | (5.00%) | |
Unemployment Rate | (8.00%) | (8.00%) | |
Real Salary | (2.00%) | (2.00%) | |
Badlar | 40.00% | 40.00% | |
Positive Scenario [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario rate | 15.00% | 15.00% | |
Sensitivity analysis rate | 10.00% | 10.00% | |
Macroeconomic scenario probability | 15.00% | 15.00% | |
GDP | 1.00% | 1.00% | |
Unemployment Rate | (6.00%) | (6.00%) | |
Real Salary | (4.00%) | (4.00%) | |
Badlar | 10.00% | 10.00% | |
Positive Scenario [member] | Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 37,467,704 | ||
Positive Scenario [member] | Retail, Retail Like and Wholesale [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 31,101,450 | ||
Positive Scenario [member] | Naranja [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 6,366,254 | ||
Negative Scenario [Member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario rate | 15.00% | 15.00% | |
Sensitivity analysis rate | 45.00% | 45.00% | |
Macroeconomic scenario probability | 15.00% | ||
GDP | (15.00%) | (15.00%) | |
Unemployment Rate | 40.00% | 40.00% | |
Real Salary | (5.00%) | (5.00%) | |
Badlar | 120.00% | 120.00% |
Capital Management and Risk _16
Capital Management and Risk Policies - Summary of Maximum Exposure to Credit Risk on Assests (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Gross carrying amount [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | $ 4,052,420 | $ 4,448,958 | $ 7,164,281 | |
Gross carrying amount [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,046,327 | 1,940,358 | 3,190,264 | |
Retail [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 174,370,620 | 160,719,682 | 208,640,359 | |
Retail [member] | Gross carrying amount [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 163,058,787 | 147,407,781 | 189,552,804 | |
Retail [member] | Gross carrying amount [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,448,958 | |||
Retail [member] | Gross carrying amount [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,940,358 | |||
Retail [member] | Gross carrying amount [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 656,113 | 1,093,520 | 1,652,119 | |
Retail [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,556,973 | 5,829,065 | 7,080,891 | |
Retail [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 116,918,822 | 109,088,241 | ||
Retail [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 115,540,641 | 106,961,239 | ||
Retail [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,378,181 | 2,127,002 | ||
Retail [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 50,241,723 | 43,711,621 | ||
Retail [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 47,518,146 | 39,204,462 | ||
Retail [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,164,534 | 2,069,604 | ||
Retail [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 997,662 | 1,718,377 | ||
Retail [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 561,381 | 719,178 | ||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 7,210,075 | 7,919,820 | ||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,242,080 | |||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,509,705 | 252,352 | ||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 48,665 | 221,981 | ||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 94,732 | 374,342 | ||
Retail [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,556,973 | 5,829,065 | ||
Retail [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 150,894,386 | 146,420,618 | 192,980,380 | |
Loss allowance | (23,476,234) | (14,299,064) | (15,659,979) | |
Retail [member] | Net Carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 111,964,587 | 103,574,216 | ||
Loss allowance | (4,954,235) | (5,514,025) | ||
Retail [member] | Net Carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 37,613,673 | 41,157,027 | ||
Loss allowance | (12,628,050) | (2,554,594) | ||
Retail [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,316,126 | 1,689,375 | ||
Loss allowance | (5,893,949) | (6,230,445) | ||
Retail Like Portfolio [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 4,521,816 | 4,103,299 | 3,616,367 | $ 2,021,737 |
Retail Like Portfolio [member] | Stage 1 [member] | 12-month ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 559,205 | 480,463 | 559,063 | 464,424 |
Retail Like Portfolio [member] | Stage 2 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 2,130,872 | 199,468 | 586,665 | 266,037 |
Retail Like Portfolio [member] | Stage 3 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 1,831,739 | 3,423,368 | 2,470,639 | 1,291,276 |
Retail Like Portfolio [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 121,115,239 | 58,301,206 | 75,596,447 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 117,921,542 | 51,512,818 | 67,804,625 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,728,987 | 2,729,542 | 2,774,228 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 216,453 | 305,087 | 704,220 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 60,906 | 435,629 | 548,510 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,187,351 | 3,318,130 | 3,764,864 | |
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 105,769,335 | 46,764,260 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 104,800,495 | 44,985,250 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 968,840 | 1,779,010 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,956,946 | 7,028,411 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,159,876 | 5,850,798 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 542,107 | 725,260 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 209,942 | 217,775 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 45,021 | 234,578 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,388,958 | 4,508,535 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 961,171 | 676,770 | ||
Retail Like Portfolio [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,187,351 | 3,318,130 | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 116,593,423 | 54,197,907 | 71,980,080 | |
Loss allowance | (4,521,816) | (4,103,299) | (3,616,367) | |
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 105,210,130 | 46,283,797 | ||
Loss allowance | (559,205) | (480,463) | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 10,826,074 | 6,828,943 | ||
Loss allowance | (2,130,872) | (199,468) | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 557,219 | 1,085,167 | ||
Loss allowance | (1,831,739) | (3,423,368) | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 218,040 | 225,272 | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 6,511 | 87,312 | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 15,885 | 201,051 | ||
Wholesale [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 278,096,824 | 295,493,705 | 297,144,320 | |
Wholesale [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 796,138 | 6,638,965 | 5,268,147 | |
Wholesale [member] | Gross carrying amount [member] | A [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 276,298,436 | 288,340,517 | 296,480,994 | |
Wholesale [member] | Gross carrying amount [member] | B1 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,002,250 | 514,223 | (4,604,821) | |
Wholesale [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 263,742,041 | 280,598,191 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | A [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 263,742,041 | 280,598,191 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 13,558,645 | 8,256,549 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | A [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,556,395 | 7,742,326 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | B1 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,002,250 | 514,223 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 796,138 | 6,638,965 | ||
Wholesale [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 796,138 | 6,638,965 | ||
Wholesale [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 274,907,203 | 288,397,059 | 294,482,798 | |
Loss allowance | (3,189,621) | (7,096,646) | (2,661,522) | |
Wholesale [member] | Net Carrying amount [member] | Stage 1 [member] | 12-month ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 261,782,324 | 279,919,190 | ||
Loss allowance | (1,959,717) | (679,001) | ||
Wholesale [member] | Net Carrying amount [member] | Stage 2 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,935,542 | 7,955,333 | ||
Loss allowance | (623,103) | (301,216) | ||
Wholesale [member] | Net Carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 189,337 | 522,536 | ||
Loss allowance | (606,801) | (6,116,429) | ||
Naranja [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 6,145,281 | 10,092,365 | 11,114,984 | 8,121,034 |
Naranja [member] | Stage 1 [member] | 12-month ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 3,707,641 | 2,754,583 | 2,882,959 | 1,893,842 |
Naranja [member] | Stage 2 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 589,155 | 958,629 | 3,858,958 | 2,660,280 |
Naranja [member] | Stage 3 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 1,848,485 | 6,379,153 | 4,373,067 | $ 3,566,912 |
Naranja [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 94,048,837 | 75,772,613 | 103,631,685 | |
Naranja [member] | Gross carrying amount [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 87,255,511 | 61,842,678 | 82,799,332 | |
Naranja [member] | Gross carrying amount [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 3,514,000 | 3,652,592 | 7,369,251 | |
Naranja [member] | Gross carrying amount [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 900,936 | 1,760,530 | 3,564,361 | |
Naranja [member] | Gross carrying amount [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 403,554 | 919,425 | 1,967,627 | |
Naranja [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,974,836 | 7,597,388 | 7,931,114 | |
Naranja [member] | Gross carrying amount [member] | Stage 1 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 89,220,860 | 64,077,108 | ||
Naranja [member] | Gross carrying amount [member] | Stage 1 [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 85,988,867 | 60,762,833 | ||
Naranja [member] | Gross carrying amount [member] | Stage 1 [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 3,231,993 | 3,314,275 | ||
Naranja [member] | Gross carrying amount [member] | Stage 2 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,455,718 | 3,453,393 | ||
Naranja [member] | Gross carrying amount [member] | Stage 2 [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,003,472 | 724,351 | ||
Naranja [member] | Gross carrying amount [member] | Stage 2 [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 225,959 | 216,244 | ||
Naranja [member] | Gross carrying amount [member] | Stage 2 [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 853,081 | 1,656,414 | ||
Naranja [member] | Gross carrying amount [member] | Stage 2 [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 373,206 | 856,384 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,372,259 | 8,242,112 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,974,836 | 7,597,388 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 263,172 | 355,494 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | Less than one month [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 56,048 | 122,073 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 31-60 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 47,855 | 104,116 | ||
Naranja [member] | Gross carrying amount [member] | Stage 3 [member] | Lifetime ECL [member] | 61-90 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 30,348 | 63,041 | ||
Naranja [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 87,903,556 | 65,680,248 | 92,516,701 | |
Loss allowance | (6,145,281) | (10,092,365) | $ (11,114,984) | |
Naranja [member] | Net Carrying amount [member] | Stage 1 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 85,513,219 | 61,322,525 | ||
Loss allowance | (3,707,641) | (2,754,583) | ||
Naranja [member] | Net Carrying amount [member] | Stage 2 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,866,563 | 2,494,764 | ||
Loss allowance | (589,155) | (958,629) | ||
Naranja [member] | Net Carrying amount [member] | Stage 3 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 523,774 | 1,862,959 | ||
Loss allowance | $ (1,848,485) | $ (6,379,153) |
Capital Management and Risk _17
Capital Management and Risk Policies - Summary of Information On Balance Sheet Items And Their Collateral In Offsets As Well As Loan And Other Credit - Related Commitments (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020ARS ($) | |
Carrying amount [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | $ 29,219,431 |
Mortgage Loans | 143,769,344 |
Pledge Loans | 16,486,335 |
Personal Loans | 11,586,593 |
Credit Card Loans | 36,504,158 |
Financial Leases | 241,793,015 |
Overdrafts | 1,855,070 |
Pre-financing export loans | 29,487,016 |
Others | 138,001,603 |
Other Debt Securities | 18,928,955 |
Total as of December 31, 2019 | 667,631,520 |
Loss allowance [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | (679,786) |
Mortgage Loans | (522,696) |
Pledge Loans | (5,320,236) |
Personal Loans | (109,735) |
Credit Card Loans | (8,787,760) |
Financial Leases | (16,713,933) |
Overdrafts | (36,388) |
Pre-financing export loans | (629,027) |
Others | (4,489,715) |
Other Debt Securities | (43,676) |
Total as of December 31, 2019 | (37,332,952) |
Gross carrying amount [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | 28,539,645 |
Mortgage Loans | 143,246,648 |
Pledge Loans | 11,166,099 |
Personal Loans | 11,476,858 |
Credit Card Loans | 27,716,398 |
Financial Leases | 225,079,082 |
Overdrafts | 1,818,682 |
Pre-financing export loans | 28,857,989 |
Others | 133,511,888 |
Other Debt Securities | 18,885,279 |
Total as of December 31, 2019 | 630,298,568 |
Collateral's Fair Value [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Pledge Loans | 148,099,128 |
Personal Loans | 32,538,883 |
Others | 1,784,133 |
Total as of December 31, 2019 | $ 182,422,144 |
Capital Management and Risk _18
Capital Management and Risk Policies - Summary of Mortgage Portfolio LTV Distribution (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020ARS ($) | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | $ 30,960 |
Lower than 50% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | Lower than 50% |
Exposure | $ 3,807 |
50 to 60% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 50 to 60% |
Exposure | $ 282 |
60 to 70% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 60 to 70% |
Exposure | $ 576 |
70 to 80% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 70 to 80% |
Exposure | $ 436 |
80 to 90% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 80 to 90% |
Exposure | $ 495 |
90 to 100% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 90 to 100% |
Exposure | $ 4,765 |
Higher than100% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | Higher than 100% |
Exposure | $ 20,599 |
Capital Management and Risk _19
Capital Management and Risk Policies - Summary of Changes in Loss Allowance Between Beginning and End of Annual Period (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | $ 14,299,064 | $ 15,659,979 | $ 7,721,484 |
Inflation effect | (6,904,987) | (7,371,568) | (2,491,744) |
New Financial Assets Originated or Purchased | 40,102,974 | 40,650,303 | |
Foreign exchange and other movements | (35,526,955) | (14,152,189) | |
Loss allowance, Ending Balance | 23,476,234 | 14,299,064 | 15,659,979 |
Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 4,103,299 | 3,616,367 | 2,021,737 |
Inflation effect | (1,815,338) | (2,131,833) | (652,420) |
New Financial Assets Originated or Purchased | 82,936,327 | 34,252,715 | |
Foreign exchange and other movements | (16,711,606) | (1,883,642) | |
Loss allowance, Ending Balance | 4,521,816 | 4,103,299 | 3,616,367 |
Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 7,096,646 | 2,661,522 | 1,571,994 |
Inflation effect | (2,506,450) | (2,459,245) | (507,282) |
New Financial Assets Originated or Purchased | 223,224,677 | 229,491,466 | |
Foreign exchange and other movements | 56,466,992 | (3,705,363) | |
Loss allowance, Ending Balance | 3,189,621 | 7,096,646 | 2,661,522 |
Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 10,092,365 | 11,114,984 | 8,121,034 |
Inflation effect | (3,355,067) | (5,495,379) | (2,620,676) |
New Financial Assets Originated or Purchased | 48,070,218 | 16,643,298 | |
Foreign exchange and other movements | 309,334 | 995,051 | |
Loss allowance, Ending Balance | 6,145,281 | 10,092,365 | 11,114,984 |
12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 5,514,025 | 5,446,096 | 2,290,310 |
Inflation effect | (2,119,898) | (2,638,825) | (739,086) |
New Financial Assets Originated or Purchased | 29,264,738 | 26,894,580 | |
Foreign exchange and other movements | (25,161,879) | (16,827,627) | |
Loss allowance, Ending Balance | 4,954,235 | 5,514,025 | 5,446,096 |
12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 480,463 | 559,063 | 464,424 |
Inflation effect | (217,336) | (297,080) | (149,871) |
New Financial Assets Originated or Purchased | 76,897,926 | 28,523,815 | |
Foreign exchange and other movements | (13,347,534) | (2,082,732) | |
Loss allowance, Ending Balance | 559,205 | 480,463 | 559,063 |
12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 679,001 | 1,101,084 | 443,517 |
Inflation effect | (562,741) | (644,265) | (143,127) |
New Financial Assets Originated or Purchased | 218,915,986 | 225,010,476 | |
Foreign exchange and other movements | 52,209,009 | (4,728,212) | |
Loss allowance, Ending Balance | 1,959,717 | 679,001 | 1,101,084 |
12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 2,754,583 | 2,882,959 | 1,893,842 |
Inflation effect | (1,139,035) | (1,447,146) | (611,149) |
New Financial Assets Originated or Purchased | 46,738,397 | 14,124,048 | |
Foreign exchange and other movements | 440,215 | 590,047 | |
Loss allowance, Ending Balance | 3,707,641 | 2,754,583 | 2,882,959 |
Lifetime ECL [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 4,853,535 | ||
Loss allowance, Ending Balance | 4,853,535 | ||
Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 2,554,594 | 4,853,535 | 1,920,604 |
Inflation effect | (2,350,556) | (2,033,094) | (619,787) |
New Financial Assets Originated or Purchased | 8,648,366 | 9,264,446 | |
Foreign exchange and other movements | (9,429,822) | 1,808,697 | |
Loss allowance, Ending Balance | 12,628,050 | 2,554,594 | 4,853,535 |
Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 199,468 | 586,665 | 266,037 |
Inflation effect | (395,100) | (247,408) | (85,853) |
New Financial Assets Originated or Purchased | 4,573,084 | 2,004,755 | |
Foreign exchange and other movements | (2,851,237) | 205,253 | |
Loss allowance, Ending Balance | 2,130,872 | 199,468 | 586,665 |
Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 301,216 | 162,022 | 94,680 |
Inflation effect | (201,577) | (116,256) | (30,550) |
New Financial Assets Originated or Purchased | 4,227,395 | 4,050,575 | |
Foreign exchange and other movements | 289,643 | 4,048,564 | |
Loss allowance, Ending Balance | 623,103 | 301,216 | 162,022 |
Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 958,629 | 3,858,958 | 2,660,280 |
Inflation effect | (319,282) | (1,502,938) | (858,476) |
New Financial Assets Originated or Purchased | 1,058,663 | 1,344,667 | |
Foreign exchange and other movements | (38,646) | 212,942 | |
Loss allowance, Ending Balance | 589,155 | 958,629 | 3,858,958 |
Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 6,230,445 | 5,360,348 | 3,510,570 |
Inflation effect | (2,434,533) | (2,699,649) | (1,132,871) |
New Financial Assets Originated or Purchased | 2,189,870 | 4,491,277 | |
Foreign exchange and other movements | (935,254) | 866,741 | |
Loss allowance, Ending Balance | 5,893,949 | 6,230,445 | 5,360,348 |
Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 3,423,368 | 2,470,639 | 1,291,276 |
Inflation effect | (1,202,902) | (1,587,345) | (416,696) |
New Financial Assets Originated or Purchased | 1,465,317 | 3,724,145 | |
Foreign exchange and other movements | (512,835) | (6,163) | |
Loss allowance, Ending Balance | 1,831,739 | 3,423,368 | 2,470,639 |
Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 6,116,429 | 1,398,416 | 1,033,797 |
Inflation effect | (1,742,132) | (1,698,724) | (333,605) |
New Financial Assets Originated or Purchased | 81,296 | 430,415 | |
Foreign exchange and other movements | 3,968,340 | (3,025,715) | |
Loss allowance, Ending Balance | 606,801 | 6,116,429 | 1,398,416 |
Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 6,379,153 | 4,373,067 | 3,566,912 |
Inflation effect | (1,896,750) | (2,545,295) | (1,151,051) |
New Financial Assets Originated or Purchased | 273,158 | 1,174,583 | |
Foreign exchange and other movements | (92,235) | 192,062 | |
Loss allowance, Ending Balance | 1,848,485 | 6,379,153 | 4,373,067 |
Movements with profit and loss impact [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 3,483,085 | 5,514,098 | 7,691,559 |
Changes in PDs/LGDs/EADs | 1,978,896 | 907,323 | 8,700,756 |
Changes to model assumptions and methodologies | 12,727,511 | 1,030,868 | |
Foreign exchange and other movements | 2,703,059 | 2,280,793 | 132,944 |
Movements with profit and loss impact [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 1,637,331 | 3,167,376 | 2,607,867 |
Changes in PDs/LGDs/EADs | 1,655,588 | 185,799 | 1,538,199 |
Changes to model assumptions and methodologies | 820,096 | 360,765 | |
Foreign exchange and other movements | 765,961 | 1,030,782 | 254,464 |
Movements with profit and loss impact [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 645,603 | 940,382 | 924,957 |
Changes in PDs/LGDs/EADs | 144,818 | 4,910,364 | 551,829 |
Changes to model assumptions and methodologies | 2,664,287 | 149,128 | |
Foreign exchange and other movements | 728,651 | 1,800,491 | 531,567 |
Movements with profit and loss impact [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 2,917,547 | 5,591,375 | 3,703,355 |
Changes in PDs/LGDs/EADs | 517,414 | 1,572,485 | 8,208,004 |
Changes to model assumptions and methodologies | 0 | (1,377,860) | |
Foreign exchange and other movements | 1,289,902 | 2,163,499 | (709,254) |
Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 1,024,326 | 1,327,881 | 1,424,772 |
Changes in PDs/LGDs/EADs | (129,815) | 1,186,973 | 2,800,850 |
Changes to model assumptions and methodologies | 1,010,684 | (235,416) | |
Foreign exchange and other movements | 651,290 | 1,147,613 | 97,818 |
Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 396,426 | 324,042 | 379,522 |
Changes in PDs/LGDs/EADs | 1,213,269 | 61,555 | 252,137 |
Changes to model assumptions and methodologies | (1,192,104) | (66,337) | |
Foreign exchange and other movements | 104,533 | 156,997 | 35,695 |
Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 516,802 | 524,555 | 834,593 |
Changes in PDs/LGDs/EADs | 118,388 | (151,260) | 309,539 |
Changes to model assumptions and methodologies | 1,521,179 | (22,269) | |
Foreign exchange and other movements | 455,386 | 291,778 | (14,289) |
Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 2,549,927 | 147,103 | 1,077,725 |
Changes in PDs/LGDs/EADs | 265,208 | 537,543 | 748,465 |
Changes to model assumptions and methodologies | (421,414) | ||
Foreign exchange and other movements | 773,817 | 601,532 | (269,272) |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 679,012 | ||
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 774,816 | 2,882,551 | |
Changes in PDs/LGDs/EADs | 1,080,703 | (329,590) | 1,974,132 |
Changes to model assumptions and methodologies | 9,351,243 | 1,000,727 | |
Foreign exchange and other movements | 1,716,169 | 116,244 | 55,599 |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 133,391 | 96,077 | 410,461 |
Changes in PDs/LGDs/EADs | 384,169 | (13,733) | 186,400 |
Changes to model assumptions and methodologies | 1,471,030 | 49,762 | |
Foreign exchange and other movements | 377,770 | 34,393 | 34,068 |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 85,037 | 127,939 | 90,364 |
Changes in PDs/LGDs/EADs | 26,417 | 9,780 | 82,253 |
Changes to model assumptions and methodologies | 363,383 | 155,158 | |
Foreign exchange and other movements | 138,548 | 63,427 | 20,924 |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 199,345 | 1,287,841 | 1,539,491 |
Changes in PDs/LGDs/EADs | 66,142 | 452,605 | 2,540,874 |
Changes to model assumptions and methodologies | (944,633) | ||
Foreign exchange and other movements | 124,733 | 204,060 | (439,982) |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 1,779,747 | 3,411,401 | 3,384,236 |
Changes in PDs/LGDs/EADs | 1,028,008 | 49,940 | 3,925,774 |
Changes to model assumptions and methodologies | 2,365,584 | 265,557 | |
Foreign exchange and other movements | 335,600 | 1,016,936 | (20,473) |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 1,107,514 | 2,747,257 | 1,817,884 |
Changes in PDs/LGDs/EADs | 58,150 | 137,977 | 1,099,662 |
Changes to model assumptions and methodologies | 541,170 | 377,340 | |
Foreign exchange and other movements | 283,658 | 839,392 | 184,701 |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 43,764 | 287,888 | |
Changes in PDs/LGDs/EADs | 13 | 5,051,844 | 160,037 |
Changes to model assumptions and methodologies | 779,725 | 16,239 | |
Foreign exchange and other movements | 134,717 | 1,445,286 | 524,932 |
Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
New Financial Assets Originated or Purchased | 168,275 | 4,156,431 | 1,086,139 |
Changes in PDs/LGDs/EADs | 186,064 | 582,337 | 4,918,665 |
Changes to model assumptions and methodologies | (11,813) | ||
Foreign exchange and other movements | 391,352 | 1,357,907 | |
Other movements with no profit and loss impact [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (4,810,394) | (3,722,429) | (6,095,020) |
Other movements with no profit and loss impact [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (2,645,121) | (2,125,957) | (2,153,480) |
Other movements with no profit and loss impact [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (5,583,934) | (905,996) | (411,543) |
Other movements with no profit and loss impact [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (5,316,880) | (3,476,739) | (5,587,479) |
Other movements with no profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (966,200) | (565,569) | (454,185) |
Other movements with no profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (198,619) | (246,725) | (433,150) |
Other movements with no profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (713,244) | (466,889) | (330,712) |
Other movements with no profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (1,561,281) | (269,862) | (111,118) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (1,281,318) | ||
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (539,085) | (1,528,233) | |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (110,198) | (289,853) | (213,026) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (127,897) | (109,610) | (80,831) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (197,194) | (617,528) | (800,291) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (3,305,109) | (1,628,627) | (4,359,517) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (2,336,304) | (1,589,379) | (1,507,304) |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (4,742,793) | (329,497) | |
Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (3,558,405) | (2,589,349) | (4,676,070) |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 13,927,874 | 37,581,890 | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 3,290,768 | 4,996,285 | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 6,918,520 | 8,442,902 | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,125,451 | 1,511,927 | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (13,927,874) | (37,581,890) | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (3,290,768) | (4,996,285) | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (6,918,520) | (8,442,902) | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,125,451) | (1,511,927) | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (498,483) | (737,405) | (76,341) |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (36,222) | (33,806) | (8,191) |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (60,395) | (38,584) | (3,920) |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (72,171) | (69,501) | (232,792) |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 498,483 | 737,405 | 76,341 |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 36,222 | 33,806 | 8,191 |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 60,395 | 38,584 | 3,920 |
Transfer from stage 1 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 72,171 | 69,501 | 232,792 |
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,547,026 | 2,165,255 | |
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 132,027 | 245,369 | |
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 8,821 | ||
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,376,997 | 2,532,826 | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,547,026) | (2,165,255) | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (132,027) | (245,369) | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (8,821) | ||
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,376,997) | (2,532,826) | |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (118,204) | (76,120) | (27,194) |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (3,402) | (1,955) | (1,556) |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (13) | (79) | (375) |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (145,729) | (146,043) | (84,391) |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 118,204 | 76,120 | 27,194 |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 3,402 | 1,955 | 1,556 |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 13 | 79 | 375 |
Transfer from stage 1 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 145,729 | 146,043 | 84,391 |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (9,476,779) | (13,388,560) | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,697,439) | (828,828) | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (471,842) | (2,469,057) | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (3,537,875) | ||
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 9,476,779 | 13,388,560 | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,697,439 | 828,828 | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 471,842 | 2,469,057 | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 505,324 | 3,537,875 | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (505,324) | ||
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 387,515 | 629,942 | 129,152 |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 29,362 | 23,109 | 20,053 |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 5,354 | 84,927 | 5,858 |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 926,454 | 451,410 | |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (387,515) | (629,942) | (129,152) |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (29,362) | (23,109) | (20,053) |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (5,354) | (84,927) | (5,858) |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (155,018) | (926,454) | (451,410) |
Transfer from stage 2 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 155,018 | ||
Transfer from stage 2 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (869,079) | ||
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,510,981 | 1,915,261 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 110,371 | 406,583 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 132,221 | 28,659 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 869,079 | 3,074,964 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,510,981) | (1,915,261) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (110,371) | (406,583) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (132,221) | (28,659) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (3,074,964) | ||
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 173,949 | ||
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (336,064) | (454,456) | |
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (8,796) | (39,816) | |
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (17,065) | (1,398) | |
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (173,949) | ||
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 336,064 | 454,456 | |
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 8,796 | 39,816 | |
Transfer from stage 2 to stage 3 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 17,065 | 1,398 | |
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (85,466) | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (6,147) | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (12,880) | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (926,550) | (587,160) | |
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 85,466 | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 6,147 | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 12,880 | ||
Transfer from stage 2 to stage 3 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 926,550 | 587,160 | |
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (290,100) | (49,640) | |
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (32,005) | (7,576) | |
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (972) | ||
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (183,698) | (26,448) | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 290,100 | 49,640 | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 32,005 | 7,576 | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 972 | ||
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 183,698 | 26,448 | |
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 1,600 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (1,600) | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 28,855 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 3 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 108,373 | 12,958 | |
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | 0 | |
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (198,995) | (28,855) | |
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 17,165 | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (3) | ||
Transfer from stage 3 to stage 1 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (108,373) | (12,958) | |
Transfer from stage 3 to stage 1 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 20,239 | ||
Transfer from stage 3 to stage 1 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 1 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (20,239) | ||
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (559,745) | (74,220) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (142,658) | (26,100) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (123,716) | ||
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (23,171) | (7,711) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 559,745 | 74,220 | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 142,658 | 26,100 | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 123,716 | ||
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 23,171 | 7,711 | |
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 0 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 47,182 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 12,684 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 56,497 | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (361,066) | (47,182) | |
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (72,278) | (12,684) | |
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (56,497) | ||
Transfer from stage 3 to stage 2 [member] | Movements with profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | $ (13,578) | ||
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 60,031 | ||
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 6,587 | ||
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | 3,767 | 22,840 | |
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (60,031) | ||
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | (6,587) | ||
Transfer from stage 3 to stage 2 [member] | Other movements with no profit and loss impact [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfer from Stage 1 to Stage 2 | $ (3,767) | $ (22,840) |
Capital Management and Risk _20
Capital Management and Risk Policies - Schedule of Changes in Gross Carrying Amount of Specific Segment Portfolio (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | $ 160,719,682 | $ 208,640,361 | |
Financial assets derecognized during the period other than write-offs | (19,313,510) | (29,711,167) | |
New financial assets originated or purchased | 40,102,974 | 40,650,303 | |
FX and other movements | 35,526,955 | 14,152,189 | |
Inflation Effect | (42,665,481) | ||
Gross carrying amount, Ending Balance | 174,370,620 | 160,719,682 | $ 208,640,361 |
Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 58,301,206 | 75,596,448 | |
Financial assets derecognized during the period other than write-offs | (21,356,960) | (26,977,231) | |
New financial assets originated or purchased | 82,936,327 | 34,252,715 | |
FX and other movements | 16,711,606 | 1,883,642 | |
Inflation Effect | (15,476,940) | ||
Gross carrying amount, Ending Balance | 121,115,239 | 58,301,206 | 75,596,448 |
Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 295,493,705 | 297,144,319 | |
Financial assets derecognized during the period other than write-offs | (105,711,270) | (133,910,571) | |
New financial assets originated or purchased | 223,224,677 | 229,491,466 | |
FX and other movements | (56,466,992) | 3,705,363 | |
Inflation Effect | (78,443,296) | ||
Gross carrying amount, Ending Balance | 278,096,824 | 295,493,705 | 297,144,319 |
Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 75,772,613 | 103,631,684 | |
Financial assets derecognized during the period other than write-offs | (9,451,786) | (7,242,252) | |
New financial assets originated or purchased | 48,070,218 | 16,643,298 | |
FX and other movements | (309,334) | (995,051) | |
Inflation Effect | (20,032,874) | ||
Gross carrying amount, Ending Balance | 94,048,837 | 75,772,613 | 103,631,684 |
12-month ECL [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (73,012,004) | ||
12-month ECL [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (26,454,368) | ||
12-month ECL [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (100,936,872) | ||
12-month ECL [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (36,265,066) | ||
12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 109,088,241 | 172,450,615 | |
Financial assets derecognized during the period other than write-offs | (11,928,884) | (20,427,940) | |
New financial assets originated or purchased | 29,264,738 | 26,894,580 | |
FX and other movements | 25,161,879 | 16,827,627 | |
Inflation Effect | (28,959,131) | (60,347,696) | |
Gross carrying amount, Ending Balance | 116,918,822 | 109,088,241 | 172,450,615 |
12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 46,764,260 | 63,122,213 | |
Financial assets derecognized during the period other than write-offs | (17,132,751) | (20,470,141) | |
New financial assets originated or purchased | 76,897,926 | 28,523,815 | |
FX and other movements | 13,347,534 | 2,082,732 | |
Inflation Effect | (12,414,283) | (22,089,109) | |
Gross carrying amount, Ending Balance | 105,769,335 | 46,764,260 | 63,122,213 |
12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 280,598,191 | 279,116,409 | |
Financial assets derecognized during the period other than write-offs | (102,627,396) | (127,647,061) | |
New financial assets originated or purchased | 218,915,986 | 225,010,476 | |
FX and other movements | (52,209,009) | 4,728,212 | |
Inflation Effect | (74,489,053) | (94,628,151) | |
Gross carrying amount, Ending Balance | 263,742,041 | 280,598,191 | 279,116,409 |
12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 64,077,108 | 81,852,887 | |
Financial assets derecognized during the period other than write-offs | (2,811,379) | (2,185,596) | |
New financial assets originated or purchased | 46,738,397 | 14,124,048 | |
FX and other movements | (440,215) | (590,047) | |
Inflation Effect | (16,893,380) | (28,643,754) | |
Gross carrying amount, Ending Balance | 89,220,860 | 64,077,108 | 81,852,887 |
12-month ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (10,186,408) | ||
12-month ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (3,047,775) | ||
12-month ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (4,461,209) | ||
12-month ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (4,845,883) | ||
12-month ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (2,477,900) | ||
12-month ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (1,317,484) | ||
12-month ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (1,847,512) | ||
12-month ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Inflation Effect | (2,775,429) | ||
Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 43,711,621 | 29,108,855 | |
Financial assets derecognized during the period other than write-offs | (3,444,031) | (5,018,864) | |
New financial assets originated or purchased | 8,648,366 | 9,264,446 | |
FX and other movements | 9,429,822 | (1,808,697) | |
Inflation Effect | (11,603,914) | ||
Gross carrying amount, Ending Balance | 50,241,723 | 43,711,621 | 29,108,855 |
Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 7,028,411 | 8,709,371 | |
Financial assets derecognized during the period other than write-offs | (1,255,604) | (4,219,661) | |
New financial assets originated or purchased | 4,573,084 | 2,004,755 | |
FX and other movements | 2,851,237 | (205,253) | |
Inflation Effect | (1,865,798) | ||
Gross carrying amount, Ending Balance | 12,956,946 | 7,028,411 | 8,709,371 |
Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 8,256,549 | 12,748,427 | |
Financial assets derecognized during the period other than write-offs | (2,758,287) | (6,101,582) | |
New financial assets originated or purchased | 4,227,395 | 4,050,575 | |
FX and other movements | (289,643) | (4,048,564) | |
Inflation Effect | (2,191,826) | ||
Gross carrying amount, Ending Balance | 13,558,645 | 8,256,549 | 12,748,427 |
Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 3,453,393 | 13,847,683 | |
Financial assets derecognized during the period other than write-offs | (942,188) | (1,586,931) | |
New financial assets originated or purchased | 1,058,663 | 1,344,667 | |
FX and other movements | 38,646 | (212,942) | |
Inflation Effect | (927,015) | ||
Gross carrying amount, Ending Balance | 2,455,718 | 3,453,393 | 13,847,683 |
Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 7,919,820 | 7,080,891 | |
Financial assets derecognized during the period other than write-offs | (3,940,595) | (4,264,363) | |
New financial assets originated or purchased | 2,189,870 | 4,491,277 | |
FX and other movements | 935,254 | (866,741) | |
Inflation Effect | (2,102,436) | ||
Gross carrying amount, Ending Balance | 7,210,075 | 7,919,820 | 7,080,891 |
Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 4,508,535 | 3,764,864 | |
Financial assets derecognized during the period other than write-offs | (2,968,605) | (2,287,429) | |
New financial assets originated or purchased | 1,465,317 | 3,724,145 | |
FX and other movements | 512,835 | 6,163 | |
Inflation Effect | (1,196,859) | ||
Gross carrying amount, Ending Balance | 2,388,958 | 4,508,535 | 3,764,864 |
Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 6,638,965 | 5,279,483 | |
Financial assets derecognized during the period other than write-offs | (325,587) | (161,928) | |
New financial assets originated or purchased | 81,296 | 430,415 | |
FX and other movements | (3,968,340) | 3,025,715 | |
Inflation Effect | (1,762,417) | ||
Gross carrying amount, Ending Balance | 796,138 | 6,638,965 | 5,279,483 |
Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Gross carryng amount, Beginning Balance | 8,242,112 | 7,931,114 | |
Financial assets derecognized during the period other than write-offs | (5,698,219) | (3,469,725) | |
New financial assets originated or purchased | 273,158 | 1,174,583 | |
FX and other movements | 92,235 | (192,062) | |
Inflation Effect | (2,212,479) | ||
Gross carrying amount, Ending Balance | 2,372,259 | 8,242,112 | $ 7,931,114 |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (13,927,874) | (37,581,890) | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (3,290,768) | (4,996,285) | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (6,918,520) | (8,442,902) | |
Transfer from stage 1 to stage 2 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,125,451) | (1,511,927) | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 13,927,874 | 37,581,890 | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 3,290,768 | 4,996,285 | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 6,918,520 | 8,442,902 | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,125,451 | 1,511,927 | |
Transfer from stage 1 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | ||
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,547,026) | (2,165,255) | |
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (132,027) | (245,369) | |
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (8,821) | ||
Transfer from stage 1 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,376,997) | (2,532,826) | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | ||
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,547,026 | 2,165,255 | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 132,027 | 245,369 | |
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 8,821 | ||
Transfer from stage 1 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,376,997 | 2,532,826 | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 9,476,779 | 13,388,560 | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,697,439 | 828,828 | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 471,842 | 2,469,057 | |
Transfer from stage 2 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 3,537,875 | ||
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (9,476,779) | (13,388,560) | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,697,439) | (828,828) | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (471,842) | (2,469,057) | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (505,324) | (3,537,875) | |
Transfer from stage 2 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 505,324 | ||
Transfer from stage 2 to stage 3 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 869,079 | ||
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,510,981) | (1,915,261) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (110,371) | (406,583) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (132,221) | (28,659) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (869,079) | (3,074,964) | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,510,981 | 1,915,261 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 110,371 | 406,583 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 132,221 | 28,659 | |
Transfer from stage 2 to stage 3 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 3,074,964 | ||
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 290,100 | 49,640 | |
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 32,005 | 7,576 | |
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 972 | ||
Transfer from stage 3 to stage 1 [member] | 12-month ECL [member] | Stage 1 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 183,698 | 26,448 | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (290,100) | (49,640) | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (32,005) | (7,576) | |
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (972) | ||
Transfer from stage 3 to stage 1 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (183,698) | (26,448) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 559,745 | 74,220 | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 142,658 | 26,100 | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 123,716 | ||
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 2 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 23,171 | 7,711 | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (559,745) | (74,220) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Retail Like Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (142,658) | (26,100) | |
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Wholesale Portfolio [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (123,716) | ||
Transfer from stage 3 to stage 2 [member] | Lifetime ECL [member] | Stage 3 [member] | Naranja [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | $ (23,171) | $ (7,711) |
Contingencies and Commitments -
Contingencies and Commitments - Summary of Provisions for Contingencies (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other provisions [line items] | ||
Contingency provision | $ 3,776,297 | $ 3,739,734 |
Other contingent liabilities [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 3,708,589 | 3,672,138 |
Legal proceedings contingent liability [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 2,758,425 | 2,862,007 |
Contingent liability for labor lawsuits [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 268,689 | 230,095 |
Contingent liability for claims and credit cards [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 1,097 | 1,493 |
Contingent liability for guarantees [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 1,142 | 1,555 |
Contingent liability for other contingencies [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 458,412 | 343,701 |
Contingent liability arising from post-employment benefit obligations [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 220,824 | 233,287 |
Contingent liability dollarization of Judicial deposits difference [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 62,402 | 60,372 |
Contingent liability for administrative, disciplinary and criminal penalties [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | $ 5,306 | $ 7,224 |
Offsetting of Financial Asset_3
Offsetting of Financial Assets and Liabilities - Summary of Financial Instruments Subject to Offsetting, Master Netting Agreements and Similar Agreements (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [line items] | ||
Financial Instrument Assets, Offsetting effects on Statement Financial Position, Gross Amount | $ 27,671 | $ 116,438 |
Financial Instrument Assets, Net amounts in Statement Financial Position | 27,671 | 116,438 |
Financial Instrument Assets, Related amounts not offset, Subject to netting agreements | (25,086) | (99,124) |
Financial Instrument Assets, Total Net Amount | 2,585 | 17,314 |
Financial Instrument Liabilities, Offsetting effects on Statement Financial Position, Gross Amount | 31,493 | 170,930 |
Financial Instrument Liabilities, Net amounts in Statement Financial Position | 31,493 | 170,930 |
Financial Instrument Liabilities, Related amounts not offset, Subject to netting agreements | (25,086) | (99,124) |
Financial Instrument Liabilities, Total Net Amount | 6,407 | 71,806 |
Derivative Assets [member] | ||
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [line items] | ||
Financial Instrument Assets, Offsetting effects on Statement Financial Position, Gross Amount | 27,671 | 116,438 |
Financial Instrument Assets, Net amounts in Statement Financial Position | 27,671 | 116,438 |
Financial Instrument Assets, Related amounts not offset, Subject to netting agreements | (25,086) | (99,124) |
Financial Instrument Assets, Total Net Amount | 2,585 | 17,314 |
Derivative financial instruments [member] | ||
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [line items] | ||
Financial Instrument Liabilities, Offsetting effects on Statement Financial Position, Gross Amount | 31,493 | 170,930 |
Financial Instrument Liabilities, Net amounts in Statement Financial Position | 31,493 | 170,930 |
Financial Instrument Liabilities, Related amounts not offset, Subject to netting agreements | (25,086) | (99,124) |
Financial Instrument Liabilities, Total Net Amount | $ 6,407 | $ 71,806 |
Off-balance Sheet Items - Sched
Off-balance Sheet Items - Schedule of Credit Exposure (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [abstract] | ||
Agreed Credits | $ 33,133,907 | $ 27,162,163 |
Documentary Export and Import Credits | 2,483,005 | 3,534,722 |
Guarantees Granted | 12,658,942 | 21,963,779 |
Liabilities for Foreign Trade Operations | $ 916,751 | $ 2,317,141 |
Off-balance Sheet Items - Sch_2
Off-balance Sheet Items - Schedule of Fees and Commissions Related to Credit Exposure (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of credit risk exposure [abstract] | ||
For Agreed Credits | $ 19,432 | $ 141,340 |
For Documentary Export and Import Credits | 104,595 | 123,828 |
For Guarantees Granted | $ 72,070 | $ 327,608 |
Off-balance Sheet Items - Sch_3
Off-balance Sheet Items - Schedule of Counter-guarantees, Classified by Type (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [abstract] | ||
Other Preferred Guarantees Received | $ 65,887 | $ 1,265,645 |
Other Guarantees Received | $ 285,247 | $ 713,086 |
Off-balance Sheet Items - Sch_4
Off-balance Sheet Items - Schedule of Credit Risk by Probability of Default (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [abstract] | ||
Values to be Debited | $ 7,001,365 | $ 7,311,215 |
Values to be Credited | 10,518,835 | 9,197,463 |
Values for Collection | $ 85,197,420 | $ 52,424,444 |
Off-balance Sheet Items - Sch_5
Off-balance Sheet Items - Schedule of Amounts of Trust Funds and Securities Held in Custody (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [abstract] | ||
Trust Funds | $ 8,780,506 | $ 9,480,177 |
Securities Held in Escrow | $ 804,332,490 | $ 633,438,634 |
Non-controlling Interest - Summ
Non-controlling Interest - Summary of Non-controlling Equity Investment Percentages and Votes (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cobranzas Regionales S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | Códoba - Argentina | |
Percentage of equity investments | 0.00% | 17.00% |
Galicia Broker Asesores de Seguros S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.01% | 0.01% |
Galicia Retiro Compania de Seguros S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.00% | 0.00% |
Galicia Seguros S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.00% | 0.00% |
Naranja Digital Compañía Financiera S.A.U. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.00% | 17.00% |
Ondara S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.00% | 16.15% |
Tarjeta Naranja S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | Códoba - Argentina | |
Percentage of equity investments | 0.00% | 17.00% |
Tarjetas Regionales S.A. [member] | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA - Argentina | |
Percentage of equity investments | 0.00% | 17.00% |
Non-controlling Interest - Su_2
Non-controlling Interest - Summary of Movements in Group's Significant Non-Controlling Interests (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | $ 3,938,564 | $ 3,607,470 | $ 6,185,425 |
Purchases/Sales | (4,135,824) | 179,986 | (1,613,587) |
Cash Dividends | (143,844) | (202,709) | |
Share of Profit (loss) for the Year | 341,107 | 151,108 | (761,659) |
Ending balance | 3 | 3,938,564 | 3,607,470 |
Cobranzas Regionales S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | (26,636) | 24,327 | 27,814 |
Share of Profit (loss) for the Year | (49,983) | (50,963) | (3,487) |
Ending balance | (76,619) | (26,636) | 24,327 |
Galicia Broker Asesores de Seguros S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 4 | 4 | 4 |
Share of Profit (loss) for the Year | (1) | ||
Ending balance | 3 | 4 | 4 |
Galicia Retiro Compania de Seguros S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 4 | 4 | 4 |
Share of Profit (loss) for the Year | (4) | ||
Ending balance | 4 | 4 | |
Galicia Seguros S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 5 | 5 | 5 |
Share of Profit (loss) for the Year | (5) | ||
Ending balance | 5 | 5 | |
Ondara S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 11,382 | 12,660 | 14,815 |
Cash Dividends | 109 | ||
Share of Profit (loss) for the Year | (879) | (1,278) | (2,264) |
Ending balance | 10,503 | 11,382 | 12,660 |
Tarjeta Naranja S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 3,439,901 | 3,121,583 | 5,688,995 |
Purchases/Sales | (1,613,587) | ||
Cash Dividends | (287,822) | ||
Share of Profit (loss) for the Year | 514,371 | 318,318 | (666,003) |
Ending balance | 3,954,272 | 3,439,901 | 3,121,583 |
Tarjetas Regionales S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 534,426 | 448,887 | 453,788 |
Purchases/Sales | (4,135,824) | 179,986 | |
Cash Dividends | (143,844) | 85,004 | |
Share of Profit (loss) for the Year | (72,119) | (94,447) | (89,905) |
Ending balance | (3,817,361) | 534,426 | $ 448,887 |
Naranja Digital Compañía Financiera S.A.U. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | (20,522) | ||
Share of Profit (loss) for the Year | (50,273) | (20,522) | |
Ending balance | $ (70,795) | $ (20,522) |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties abstract [abstract] | ||
Percentage of increase in notes of the group | 20.00% | |
Key management personnel compensation | $ 1,307,741 | $ 976,364 |
Related Party Transactions - Su
Related Party Transactions - Summary of Controlled Entity of Related Party Transactions (Detail) - Related parties [member] - EBA Holding S.A. [member] | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of related party transactions [line items] | |
Percentage of Voting Rights | 54.09% |
Principal Line of Business | Financial and Investment Operations |
Place of Business | Autonomous City of Buenos Aires – Argentina |
Equity Investment | 19.07% |
Related Party Disclosures - Com
Related Party Disclosures - Compensation of Key Management Personnel (Detail) - Individual | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 140 | 153 |
Regular Directors [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 79 | 74 |
General manager [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 2 | 2 |
Area managers [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 13 | 10 |
Department managers [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 46 | 67 |
Related Party Transactions - _2
Related Party Transactions - Summary of Total Assistance Granted by Group to Key Personnel, Syndics, Majority Shareholders, as well as all Individuals (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020ARS ($)RelatedParty | Dec. 31, 2019ARS ($)RelatedParty | |
Disclosure of related party transactions [line items] | ||
Total Amount of Credit Assistance | $ | $ 1,991,604 | $ 1,499,910 |
Number of Addressees (quantities) | RelatedParty | 269 | 283 |
Average Amount of Credit Assistance | $ | $ 7,404 | $ 5,300 |
Maximum Assistance | $ | $ 508,945 | $ 596,026 |
Natural Persons [member] | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 208 | 229 |
Legal Entities [member] | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 61 | 54 |
Related Party Transactions - _3
Related Party Transactions - Summary of Amounts of Related Party Transactions (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and Due from Banks | $ 175,423,476 | $ 177,866,399 | |
Debt Securities at Fair Value through Profit or Loss | 155,419,560 | 89,431,378 | |
Other Financial Assets | 10,093,626 | 14,860,200 | |
Loans and Other Financing | 526,434,119 | 488,144,152 | |
Other Debt Securities | 23,070,377 | 25,893,436 | |
Financial Assets Pledged as Collateral | 18,717,443 | 15,725,036 | |
Total Assets | 1,055,279,177 | 933,269,606 | |
Liabilities | |||
Derivative Financial Instruments | 57,450 | 1,199,533 | |
Other Financial Liabilities | 97,471,465 | 97,153,624 | |
Financing Received from the Argentine Central Bank and other Financial Institutions | 13,833,439 | 30,936,161 | |
Debt Securities Issued | 17,073,898 | 39,808,666 | |
Liabilities for Insurance Contracts | 2,060,976 | 1,999,408 | |
Other Non-financial Liabilities | 25,258,228 | 23,239,327 | |
Total Liabilities | 872,945,442 | 774,209,789 | |
Income (Loss) | |||
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 69,331,902 | 99,151,496 | $ 36,341,509 |
Income from Insurance Business | 5,501,807 | 5,000,869 | 6,009,167 |
Other Operating Income (Expense) | (22,322,631) | (28,769,432) | (21,862,980) |
Other Operating Expenses | 30,763,761 | 35,082,818 | 35,391,431 |
Operating Income | 43,502,705 | 50,178,167 | 7,067,054 |
Related parties [member] | |||
Assets | |||
Cash and Due from Banks | 1,392,563 | 4,634,039 | |
Debt Securities at Fair Value through Profit or Loss | 738,302 | 60,112 | |
Other Financial Assets | 1,659 | 10,390 | |
Loans and Other Financing | 3,354,891 | 2,693,645 | |
Other Debt Securities | 170,656 | 178,791 | |
Financial Assets Pledged as Collateral | 555 | ||
Assets for Insurance Contracts | 547 | ||
Other Non-financial Assets | 2,953 | ||
Total Assets | 5,658,618 | 7,580,485 | |
Liabilities | |||
Deposits | 1,707,028 | 5,587,455 | |
Derivative Financial Instruments | 0 | ||
Other Financial Liabilities | 849,064 | 748,351 | |
Financing Received from the Argentine Central Bank and other Financial Institutions | 2,153,464 | 916,266 | |
Debt Securities Issued | 908,958 | 238,903 | |
Liabilities for Insurance Contracts | 23 | 5,457 | |
Other Non-financial Liabilities | 40,081 | 84,053 | |
Total Liabilities | 5,658,618 | 7,580,485 | |
Income (Loss) | |||
Net Income (Loss) from Interest | 226,467 | 490,269 | 58,588 |
Net Fee Income (Expense) | (1,085,741) | (1,201,852) | (71,981) |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | (904) | ||
Income from Insurance Business | 2,005,616 | 2,389,538 | 2,632,514 |
Other Operating Income (Expense) | (1,193,475) | (1,576,194) | (2,682,854) |
Administrative Expenses | 121,002 | 174,543 | 64,887 |
Other Operating Expenses | 14,459 | 9,282 | |
Operating Income | $ 87,424 | $ 285,586 | $ 1,154 |
Additional Information Requir_3
Additional Information Required by the Argentine Central Bank - Additional Information (Detail) - ARS ($) shares in Thousands, $ in Thousands | May 01, 2020 | Dec. 31, 2020 |
Disclosure of additional information [line items] | ||
Percentage of monthly contribution to deposit insurance fund | 0.015% | |
Garantizar SGRs risk fund [member] | ||
Disclosure of additional information [line items] | ||
Number of years contribution made to the fund | 2 years | |
Electrigal SA [member] | ||
Disclosure of additional information [line items] | ||
Equity investments, shares | 1,222,406 | |
Net insurance contracts [member] | ||
Disclosure of additional information [line items] | ||
Insurance system to demand deposits and time deposits limits | $ 1,500 |
Additional Information Requir_4
Additional Information Required by the Argentine Central Bank - Cash and Government Securities (Detail) - Banco De Galicia Y Buenos Aires S.A.U. [member] - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of restricted assets [line items] | ||
For transactions in ROFEX, MAE and BYMA | $ 3,905,372 | $ 1,782,587 |
For debit / credit cards transactions | 3,020,109 | 3,083,168 |
For attachments | 9,410 | 12,811 |
Liquid offsetting entry required to operate as CNV agent | 64,020 | 14,641 |
For contribution to M.A.E.' s Joint Guarantee Fund (Fondo de Garantía Mancomunada) | 1,100 | 122,322 |
Guarantees for the Regional Economies Competitiveness Program | 184,744 | 444,927 |
For other transactions (includes guarantees linked to rental contracts) | $ 19,802 | $ 20,313 |
Additional Information Requir_5
Additional Information Required by the Argentine Central Bank - Special Guarantees Accounts (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Argentine Central Bank [member] | ||
Disclosure of restricted assets [line items] | ||
Escrow Accounts | $ 11,444,550 | $ 10,245,260 |
Additional Information Requir_6
Additional Information Required by the Argentine Central Bank - Deposits in favor of the Argentine Central Bank (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Argentine Central Bank [member] | ||
Disclosure of restricted assets [line items] | ||
Unavailable deposits due to exchange transactions | $ 533 | $ 726 |
Additional Information Requir_7
Additional Information Required by the Argentine Central Bank - Contributions to Garantizar S.G.R.'s Risk Fund (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Garantizar SGRs risk fund [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | $ 990,000 | $ 1,347,792 |
Additional Information Requir_8
Additional Information Required by the Argentine Central Bank - Financial Assets as Collateral for Loans Borrowed as First Pledges (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of restricted assets [line items] | ||
Total Restricted Assets | $ 19,747,892 | $ 17,123,500 |
INVIU S.A.U. [Member] | ||
Disclosure of restricted assets [line items] | ||
Liquid offsetting entry required to operate as CNV agents | 18,469 | 22,753 |
Guarantees linked to surety bonds | 7,417 | |
Tarjeta Naranja S.A. [member] | ||
Disclosure of restricted assets [line items] | ||
Attachments arising from judicial cases | 973 | 3,188 |
Guarantees linked to rental contracts | 7,076 | 9,209 |
Galicia Administradora de Fondos S.A [member] | ||
Disclosure of restricted assets [line items] | ||
Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV | 13,903 | 13,803 |
Galicia Securities S.A. [member] | ||
Disclosure of restricted assets [line items] | ||
For transactions in the market | 48,015 | 0 |
Liquid offsetting entry required to operate as CNV agents | 11,270 | 0 |
Guarantees linked to surety bonds | $ 1,129 | $ 0 |
Additional Information Requir_9
Additional Information Required by the Argentine Central Bank - Financial Assets as Collateral for Loans Borrowed as First Pledges (Parenthetical) (Detail) | Dec. 31, 2020shares |
Fima Premium Class B Mutual Fund [Member] | |
Disclosure of restricted assets [line items] | |
Number Of Shares Held | 1,620,000 |
Additional Information Requi_10
Additional Information Required by the Argentine Central Bank - Additional Information 2 (Detail) $ in Thousands, $ in Thousands | Feb. 25, 2010ARS ($) | Dec. 31, 2020ARS ($)shares | Dec. 31, 2019ARS ($)shares | Dec. 31, 2018ARS ($) | Dec. 31, 2020USD ($)shares |
Disclosure of additional information [line items] | |||||
Instruments held in custody | $ 804,332,490 | $ 633,438,634 | |||
Percentage of regulatory capital | 2.50% | 2.50% | |||
Percentage of individual computable regulatory capital | 1.00% | ||||
Accumulated deficit | $ 18,094,303 | ||||
Dividends paid, ordinary shares | 1,892,559 | 3,622,432 | $ 3,386,137 | ||
Reimbursement of expenses | 555 | ||||
Optional Reserve for Future Income Distribution [member] | |||||
Disclosure of additional information [line items] | |||||
Dividends paid, ordinary shares | 1,500,000 | ||||
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||||
Disclosure of additional information [line items] | |||||
Instruments held in custody | $ 192,415,131 | $ 109,892,525 | |||
Securities held in custody in units | shares | 22,081,526,592 | 11,045,967,403 | |||
Banco De Galicia Y Buenos Aires S.A.U. [member] | Top of range [member] | |||||
Disclosure of additional information [line items] | |||||
Percentage of equity interest | 12.50% | ||||
Banco De Galicia Y Buenos Aires S.A.U. [member] | Chattel mortgage agreement [member] | |||||
Disclosure of additional information [line items] | |||||
Balances recorded from activities as security agent | $ 474,161 | ||||
Banco Galicia [member] | |||||
Disclosure of additional information [line items] | |||||
Legal reserve | 20.00% | ||||
Percentage of profit shown in income statement | 20.00% | ||||
Argentine Central Bank [member] | |||||
Disclosure of additional information [line items] | |||||
Fines and penalties | $ 4,483 | ||||
Provision | $ 5,306 | ||||
Minimum capital requirement | 3.50% | ||||
Grupo Financiero Galicia SA [member] | |||||
Disclosure of additional information [line items] | |||||
Percentage of net income transferred | 5.00% | ||||
Legal reserve | 20.00% | ||||
Tarjeta Naranja S.A. [member] | |||||
Disclosure of additional information [line items] | |||||
Minimum capital requirement | 50.00% | ||||
Escrow Agent [member] | |||||
Disclosure of additional information [line items] | |||||
Required shareholders equity amount | $ 61,104 | ||||
Minimum required shareholders offsetting entry | 30,552 | ||||
Galicia administradora de fondos S.A. [member] | |||||
Disclosure of additional information [line items] | |||||
Minimum equity requirement act as agent | 27,658 | ||||
Minimum required shareholders offsetting entry | 13,829 | ||||
Galicia administradora de fondos S.A. [member] | Fima Premium Class C Shares [Member] | |||||
Disclosure of additional information [line items] | |||||
Minimum required shareholders offsetting entry | $ 13,903 | ||||
Minimum offsetting entry shares | shares | 1,620,000,000 | 1,620,000,000 | |||
Galicia Securities S.A. [member] | |||||
Disclosure of additional information [line items] | |||||
Minimum equity requirement act as agent | $ 2,500 | ||||
Minimum liquidity requirement | 1,250 | ||||
Required shareholders equity amount | 30,253 | ||||
Minimum required shareholders offsetting entry | $ 15,126 | ||||
Required shareholders equity shares | shares | 470,350,000 | 470,350,000 | |||
Required government securities amount | $ 12,270 | ||||
Required bank guarantee amount | 6,171 | ||||
INVIU S.A.U. [Member] | |||||
Disclosure of additional information [line items] | |||||
Required shareholders equity amount | 30,253 | ||||
Minimum required shareholders offsetting entry | $ 15,126 | $ 220 | |||
Required shareholders equity shares | shares | 470,350,000 | 470,350,000 | |||
Alync And AN Integral [member] | |||||
Disclosure of additional information [line items] | |||||
Required shareholders equity amount | $ 30,253 | ||||
Minimum required shareholders offsetting entry | 15,126 | ||||
Treasury Bills | $ 64,020 |
Additional Information Requi_11
Additional Information Required by the Argentine Central Bank - Summary of Fiduciary Property Breakdown (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020ARS ($) | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 8,765,803 |
Exxon mobil [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Apr. 17, 2012 |
Trustor | Exxon Mobil |
Maturity Date | Apr. 19, 2021 |
Coop. de Trab. Portuarios [Member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Sep. 12, 2014 |
Trustor | Coop. de Trab. Portuarios |
Maturity Date | Sep. 12, 2022 |
Rios belt [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Apr. 14, 2016 |
Trustor | Rios Belt |
Maturity Date | Dec. 31, 2021 |
MSU [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | May 24, 2017 |
Trustor | MSU |
Maturity Date | Dec. 31, 2021 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 14,703 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | Exxon mobil [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 13,540 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | Coop. de Trab. Portuarios [Member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 1,009 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | Rios belt [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 121 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | MSU [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 33 |
Additional Information Requi_12
Additional Information Required by the Argentine Central Bank - Summary of Financial Trust Contracts (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020ARS ($) | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 8,765,803 |
GAS I [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Dec. 6, 2006 |
Trust | GAS I |
Maturity Date | Dec. 31, 2021 |
GAS II [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | May 14, 2009 |
Trust | GAS II |
Maturity Date | Dec. 31, 2022 |
MILA III [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Jun. 8, 2011 |
Trust | MILA III |
Maturity Date | Dec. 31, 2021 |
MILA IV [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Jan. 9, 2011 |
Trust | MILA IV |
Maturity Date | Dec. 31, 2021 |
MILA XVIII [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Jun. 12, 2017 |
Trust | MILA XVIII |
Maturity Date | Jan. 31, 2024 |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | GAS I [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 133,278 |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | GAS II [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 8,614,193 |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | MILA III [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 17,118 |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | MILA IV [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 295 |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | MILA XVIII [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 919 |
Additional Information Requi_13
Additional Information Required by the Argentine Central Bank - Summary of Balances of the Mutual Funds (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of mutual funds portfolio [line items] | ||
Total | $ 804,332,490 | $ 633,438,634 |
Mutual funds [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 192,415,131 | 109,892,525 |
FIMA Acciones [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 590,257 | 548,757 |
FIMA P.B. Acciones [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 633,036 | 941,220 |
FIMA Renta en pesos [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 1,098,300 | 319,338 |
FIMA Ahorro pesos [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 7,252,021 | 3,626,852 |
FIMA Renta Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 739,739 | 200,953 |
FIMA Premium [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 148,692,964 | 93,646,912 |
FIMA Ahorro Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 12,706,534 | 3,718,984 |
FIMA Capital Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 16,650,938 | 154,164 |
FIMA Abierto PyMES [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 758,538 | 795,135 |
FIMA Mix I [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 2,047,362 | 77,755 |
FIMA Renta Dolares I [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 2,259,686 | |
FIMA Renta Dolares II [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 739,938 | |
FIMA Renta Fija Internacional [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 1,172,774 | 2,735,979 |
FIMA Acciones Latinoamericanas Dolares [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | $ 72,668 | $ 126,852 |
Additional Information Requi_14
Additional Information Required by the Argentine Central Bank - Summary of Compliance with Minimum Cash Requirements (Detail) - Dec. 31, 2020 € in Thousands, $ in Thousands, $ in Thousands | ARS ($) | USD ($) | EUR (€) |
Argentina, Pesos [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | $ 76,110,500 | ||
US Dollar [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | $ 1,220,767 | ||
Euro [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | € | € 31 | ||
Checking Accounts at Argentine Central Bank [member] | Argentina, Pesos [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | 1,000 | ||
Checking Accounts at Argentine Central Bank [member] | US Dollar [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | 1,217,252 | ||
Checking Accounts at Argentine Central Bank [member] | Euro [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | € | € 31 | ||
Special Guarantees Accounts at Argentine Central Bank[member] | Argentina, Pesos [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | 11,148,780 | ||
Special Guarantees Accounts at Argentine Central Bank[member] | US Dollar [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | $ 3,515 | ||
National Treasury Bonds in Argentine Pesos computable for minimum cash [member] | Argentina, Pesos [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | 18,343,599 | ||
Liquidity bills computable for minimum cash [member] | Argentina, Pesos [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | $ 46,617,121 |
Additional Information Requi_15
Additional Information Required by the Argentine Central Bank - Schedule of Shareholders' Equity (Detail) - ARS ($) $ in Thousands | Dec. 31, 2020 | Sep. 01, 2020 | Dec. 31, 2019 |
Share Capital | $ 1,474,692 | $ 47,927,494 | $ 1,426,765 |
Additional paid in Capital | 61,548,313 | 60,622,637 | |
Retained results | (102,255,270) | $ (77,955,542) | |
Argentine Central Bank [member] | |||
Share Capital | 1,474,692 | ||
Additional paid in Capital | 17,281,187 | ||
Adjustments to shareholders´ equity | 61,548,313 | ||
Legal reserve | 714,107 | ||
Distributable reserves | 116,312,804 | ||
Non distributable reserves | 5,047,825 | ||
Retained results | (44,533,351) | ||
Profit for the year | 26,439,048 | ||
Total Shareholder's equity under the rules of the Argentine Central Bank | $ 184,284,625 |
Impact Of Covid-19 On The Gro_2
Impact Of Covid-19 On The Group Operations - Additional Information (Detail) | Dec. 31, 2020 |
SME Financing [member] | |
Disclosure of additional information [line items] | |
Interest rate | 24.00% |
Economic Context Where The Gr_2
Economic Context Where The Group's Operations -Additional Information (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of additional information [line items] | ||
Increase decrease in GDP percentage | 10.10% | |
Deficit percentage | 6.50% | |
Increase decrease in consumer price index | 36.10% | |
Closing foreign exchange rate | 84.145 | 59.895 |
International reserves | $ 39,410,000 | $ 44,781,000 |
Argentine Central Bank [member] | ||
Disclosure of additional information [line items] | ||
Currency devaluation percentage | 28.80% | |
Closing foreign exchange rate | 84.15 | 59.90 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - ARS ($) $ in Thousands | Mar. 30, 2021 | Mar. 29, 2021 | Feb. 24, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Events After Reporting Period [line items] | ||||||
Dividends paid, ordinary shares | $ 1,892,559 | $ 3,622,432 | $ 3,386,137 | |||
Major ordinary share transactions [member] | ||||||
Disclosure of Events After Reporting Period [line items] | ||||||
Number of shares issued | 47,927,494 | |||||
Major Dividends [member] | Sudamericana Holding S.A. [member] | ||||||
Disclosure of Events After Reporting Period [line items] | ||||||
Dividends paid, ordinary shares | $ 1,100,000 | |||||
Major Dividends [member] | Galicia Administradora de Fondos S.A [member] | ||||||
Disclosure of Events After Reporting Period [line items] | ||||||
Dividends paid, ordinary shares | $ 800,000 | |||||
Major Dividends [member] | Galicia Securities S.A. [member] | ||||||
Disclosure of Events After Reporting Period [line items] | ||||||
Dividends paid, ordinary shares | $ 150,000 | |||||
Major Dividends [member] | Galicia Warrants S.A. [member] | ||||||
Disclosure of Events After Reporting Period [line items] | ||||||
Dividends paid, ordinary shares | $ 40,000 |