Cover
Cover | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
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 |
Auditor Name | PRICE WATERHOUSE & Co. S.R.L. |
Auditor Firm ID | 1349 |
Auditor Location | Buenos Aires, Argentina |
Document Registration Statement | false |
Entity File Number | 000-30852 |
Entity Address, Address Line One | Perón 430, 25th floor |
Entity Address, City or Town | Buenos Aires |
Entity Address, Postal Zip Code | C1038 AAJ |
Entity Incorporation, State or Country Code | AR |
Document Accounting Standard | International Financial Reporting Standards |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Country | AR |
Contact Personnel Name | Diego Rivas |
Entity Address, Address Line One | Perón 430, 25° Piso |
Entity Address, City or Town | Buenos Aires |
Entity Address, Postal Zip Code | C1038AAJ |
Local Phone Number | 343 7528 |
City Area Code | 54 11 4 |
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, each representing the right to receive ten ordinary shares, par value Ps.1.00 per share New York Stock Exchange |
Security Exchange Name | NASDAQ |
CONSOLIDATED STATEMENT OF FINAN
CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and Due from Banks | $ 237,426,843 | $ 264,787,060 |
Cash | 35,591,958 | 101,029,569 |
Financial Institutions and Correspondents | 201,834,885 | 163,757,491 |
Argentine Central Bank (BCRA) | 192,379,482 | 154,862,498 |
Other, Local and Foreign Financial Institutions | 9,455,403 | 8,894,993 |
Debt Securities at fair value through profit or loss | 235,936,898 | 234,592,823 |
Derivative Financial Instruments | 1,247,078 | 3,267,935 |
Repurchase Transactions | 203,205,457 | 92,067,820 |
Other Financial Assets | 23,371,926 | 15,235,484 |
Loans and Other Financing | 744,433,702 | 794,608,259 |
Non-financial Public Sector | 498 | 504 |
Argentine Central Bank (BCRA) | 533 | 19,917 |
Other Financial Institutions | 12,746,201 | 22,189,326 |
Non-financial Private Sector and Residents Abroad | 779,004,889 | 828,599,474 |
Expected credit loss allowance | (47,318,419) | (56,200,962) |
Other Debt Securities | 94,356,999 | 34,822,804 |
Financial Assets Pledged as Collateral | 35,235,668 | 28,252,414 |
Current Income Tax Assets | 76,381 | 297,497 |
Investments in Equity Instruments | 1,251,934 | 8,621,309 |
Equity investments in Associates and Joint Ventures | 169,347 | 134,552 |
Property, Plant and Equipment | 62,196,024 | 66,008,914 |
Intangible Assets | 21,231,442 | 21,839,477 |
Deferred Income Tax Assets | 4,286,395 | 13,905,649 |
Assets for Insurance Contracts | 3,217,517 | 2,845,838 |
Other Non-financial Assets | 10,398,787 | 11,523,519 |
Non-current Assets Held for Sale | 657 | 44,268 |
Total Assets | 1,678,043,055 | 1,592,855,622 |
Liabilities | ||
Deposits | 1,035,957,929 | 1,020,886,486 |
Non-financial Public Sector | 25,926,239 | 32,509,026 |
Financial Sector | 3,366,908 | 2,939,025 |
Non-financial Private Sector and Residents Abroad | 1,006,664,782 | 985,438,435 |
Liabilities at fair value through Profit or Loss | 75,674 | 0 |
Derivative Financial Instruments | 712,129 | 86,716 |
Repurchase Transactions | 324,119 | 0 |
Other Financial Liabilities | 195,659,168 | 147,171,842 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 23,710,704 | 20,880,419 |
Debt Securities | 27,971,776 | 25,771,621 |
Current Income Tax Liabilities | 9,658,818 | 22,984,598 |
Subordinated Debt Securities | 26,275,536 | 32,684,216 |
Provisions | 4,381,599 | 5,700,004 |
Deferred Income Tax Liabilities | 5,430,594 | 206,686 |
Liabilities for Insurance Contracts | 3,190,629 | 3,110,871 |
Other Non-financial Liabilities | 40,225,155 | 38,154,644 |
Total Liabilities | 1,373,573,830 | 1,317,638,103 |
Shareholders' Equity | ||
Capital Stock | 1,474,692 | 1,474,692 |
Paid-in capital | 17,281,187 | 17,281,187 |
Capital Adjustments | 102,456,581 | 102,456,581 |
Reserves | 240,572,401 | 269,810,144 |
Retained Deficit | (89,040,327) | (154,345,775) |
Other Comprehensive Income | 630,279 | 547,080 |
Income for the Year | 31,094,407 | 37,993,605 |
Shareholders' Equity Attributable to Parent Company's Owners | 304,469,220 | 275,217,514 |
Shareholders' Equity Attributable to Non-controlling Interests | 5 | 5 |
Total Shareholders' Equity | $ 304,469,225 | $ 275,217,519 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME - ARS ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Profit or loss [abstract] | |||
Interest Income | $ 290,169,845 | $ 252,646,201 | $ 268,180,196 |
Interest Expense | (180,892,307) | (136,851,353) | (196,607,638) |
Net Income from Interest | 109,277,538 | 115,794,848 | 71,572,558 |
Fee Income | 70,404,705 | 69,285,301 | 72,220,641 |
Fee related Expenses | (12,615,126) | (14,229,647) | (14,510,769) |
Net Fee Income | 57,789,579 | 55,055,654 | 57,709,872 |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 95,609,835 | 104,619,587 | 149,660,888 |
Income from Derecognition of Assets Measured at Amortized Cost | 16,531 | (4,723) | 451,016 |
Exchange rate differences on gold and foreign currency | 4,494,719 | 10,637,532 | 17,858,586 |
Other Operating Income | 35,836,233 | 33,694,144 | 43,529,669 |
Income from Insurance Business | 7,349,946 | 8,137,763 | 7,272,216 |
Expected credit loss allowance | (23,262,581) | (52,874,223) | (45,281,832) |
Net Operating Income | 287,111,800 | 275,060,582 | 302,772,973 |
Personnel Expenses | (46,444,271) | (48,037,327) | (50,240,863) |
Administrative Expenses | (45,203,534) | (46,960,750) | (50,142,274) |
Depreciation and Impairment of Assets | (14,497,482) | (12,504,437) | (10,407,340) |
Other Operating Expenses | (53,834,069) | (46,132,615) | (52,954,579) |
Loss on net monetary position | (79,501,926) | (51,354,448) | (56,513,335) |
Operating Income | 47,630,518 | 70,071,005 | 82,514,582 |
Share of profit from Associates and Joint Ventures | (129,152) | (188,757) | |
Income before Taxes from Continuing Operations | 47,501,366 | 69,882,248 | 82,514,582 |
Income Tax from Continuing Operations | (16,406,959) | (31,373,771) | (33,568,004) |
Net Income from Continuing Operations | 31,094,407 | 38,508,477 | 48,946,578 |
Net Income for the Year | 31,094,407 | 38,508,477 | 48,946,578 |
Net Income for the Year Attributable to parent company´s owners | 31,094,407 | 37,993,605 | 48,718,493 |
Net Income for the Year Attributable to Non-controlling Interests | 514,872 | 228,085 | |
Earnings per Share | |||
Net Income Attributable to parent company´s owners | 31,094,407 | 37,993,605 | 48,718,493 |
Net Income Attributable to parent company´s owners Adjusted by dilution effects | $ 31,094,407 | $ 37,993,605 | $ 48,718,493 |
Weighted-Average of Ordinary Shares Outstanding for the Year | 1,474,692 | 1,442,740 | 1,426,765 |
Diluted Weighted-Average of Ordinary Shares Outstanding for the Year | 1,474,692 | 1,442,740 | 1,426,765 |
Basic Earnings per Share | $ 21.09 | $ 26.33 | $ 34.15 |
Diluted Earnings per Share | $ 21.09 | $ 26.33 | $ 34.15 |
CONSOLIDATED STATEMENT OF OTHER
CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of comprehensive income [abstract] | |||
Net Income for the Year | $ 31,094,407 | $ 38,508,477 | $ 48,946,578 |
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) | 87,192 | (276,475) | 805,435 |
Income / (Loss) for the Year from Financial Instruments at Fair Value with Changes through OCI | 125,229 | (478,622) | 1,279,326 |
Income tax | (38,037) | 202,147 | (473,891) |
Other Comprehensive (Loss) / Income | (3,993) | (8,343) | 22,025 |
Other Comprehensive (Loss) / Income | (3,993) | (25,754) | 31,463 |
Income tax | 0 | 17,411 | (9,438) |
Total Other Comprehensive Income / (Loss) that may be Reclassified to Profit or Loss for the Year | 83,199 | (284,818) | 827,460 |
Total Other Comprehensive Income / (Loss) | 83,199 | (284,818) | 827,460 |
Total Comprehensive Income | 31,177,606 | 38,223,659 | 49,774,038 |
Total Comprehensive Income Attributable to Parent company´s owners | 31,177,606 | 37,708,787 | 49,545,953 |
Total Comprehensive Income Attributable to Non-controlling Interests | $ 0 | $ 514,872 | $ 228,085 |
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 Profit from Financial Instruments at Fair Value through 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, 2018 | $ 195,509,533 | $ 1,426,765 | $ 10,951,132 | $ 97,810,302 | $ 4,438 | $ 1,956,780 | $ 136,116,270 | $ (58,201,331) | $ 190,064,356 | $ 5,445,177 | |
Purchase of Non-controlling Interests | 271,671 | 271,671 | |||||||||
Distribution of Profits | |||||||||||
- Use of Reserve and distribution of cash dividends | (5,467,754) | (5,467,754) | (5,467,754) | ||||||||
- Other Reserves | 53,998,286 | (53,998,286) | |||||||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | 48,946,578 | 48,718,493 | 48,718,493 | 228,085 | |||||||
Other Comprehensive Income (Loss) for the Year | 827,460 | 805,435 | $ 22,025 | 827,460 | |||||||
Equity, Ending balance at Dec. 31, 2019 | 240,087,488 | 1,426,765 | 10,951,132 | 97,810,302 | 809,873 | 22,025 | 1,956,780 | 190,114,556 | (68,948,878) | 234,142,555 | 5,944,933 |
Distribution of Profits | |||||||||||
- Use of Reserve and distribution of cash dividends | (3,073,781) | (2,856,661) | (2,856,661) | (217,120) | |||||||
- Other Reserves | 85,396,897 | (85,396,897) | |||||||||
Increase due to merger | (19,847) | 47,927 | 6,330,055 | 4,646,279 | (4,801,428) | 6,222,833 | (6,242,680) | ||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | 38,508,477 | 37,993,605 | 37,993,605 | 514,872 | |||||||
Other Comprehensive Income (Loss) for the Year | (284,818) | (276,475) | (8,343) | (284,818) | 0 | ||||||
Equity, Ending balance at Dec. 31, 2020 | 275,217,519 | 1,474,692 | 17,281,187 | 102,456,581 | 533,398 | 13,682 | 1,956,780 | 267,853,364 | (116,352,170) | 275,217,514 | 5 |
Distribution of Profits | |||||||||||
- Use of Reserve and distribution of cash dividends | (1,925,903) | (1,925,903) | (1,925,903) | ||||||||
Absorption of Retained Earnings | 3 | (27,311,840) | 27,311,843 | 3 | |||||||
Total Comprehensive Income for the Year | |||||||||||
Net (Loss) / Income for the Year | 31,094,407 | 31,094,407 | 31,094,407 | 0 | |||||||
Other Comprehensive Income (Loss) for the Year | 83,199 | 87,192 | (3,993) | 83,199 | |||||||
Equity, Ending balance at Dec. 31, 2021 | $ 304,469,225 | $ 1,474,692 | $ 17,281,187 | $ 102,456,581 | $ 620,590 | $ 9,689 | $ 1,956,780 | $ 238,615,621 | $ (57,945,920) | $ 304,469,220 | $ 5 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Income before Taxes from Continuing Operations | $ 47,501,366 | $ 69,882,248 | $ 82,514,582 |
Adjustment to Obtain the Operating Activities Flows: | |||
Expected credit loss allowance | 23,699,204 | 52,874,223 | 45,281,832 |
Depreciation and Impairment of Assets | 14,497,482 | 12,504,437 | 10,407,340 |
Loss on Net Monetary Position | 79,501,926 | 51,354,448 | 56,513,335 |
Other Operations | 121,644,171 | 55,502,099 | 68,872,208 |
Net (Increases)/Decreases from Operating Assets: | |||
Debt securities measured at fair value through profit or loss | (13,472,375) | (25,383,688) | 2,878,157 |
Derivative Financial Instruments | 2,020,857 | 1,518,145 | 858,588 |
Repurchase Transactions | (127,266) | (69,281) | (6,288,991) |
Other Financial Assets | (7,861,508) | 1,151,357 | 4,132,874 |
Net Loans and Other Financing | |||
- Non-financial Public Sector | 7 | 17,044 | 27,002 |
- Other Financial Institutions | 9,363,742 | (4,179,059) | (1,620,050) |
- Non-financial Private Sector and Residents Abroad | 15,803,179 | (106,383,355) | 109,747,351 |
Other Debt Securities | (59,534,195) | 4,261,173 | 6,512,814 |
Financial Assets Pledged as Collateral | (6,983,253) | (4,516,790) | 10,460,041 |
Investments in Equity Instruments | 6,330,064 | 467,130 | (8,849,960) |
Other Non-financial Assets | 753,065 | 1,315,760 | (3,335,118) |
Non-current Assets Held for Sale | 43,611 | 35,891 | 1,841,865 |
Deposits | |||
- Non-financial Public Sector | (6,582,787) | 28,536,557 | (23,116,601) |
- Financial Sector | 427,882 | 2,012,389 | (1,323,267) |
- Non-financial Private Sector and Residents Abroad | 21,226,346 | 181,239,518 | (304,782,009) |
Liabilities at fair value through profit or loss | 75,674 | (2,922,431) | (3,857,164) |
Derivative Financial Instruments | 625,413 | (1,723,879) | (3,992,602) |
Other Financial Liabilities | 49,621,037 | 2,005,391 | (60,993,189) |
Provisions | (1,318,405) | 55,186 | 1,063,298 |
Other Non-financial Liabilities | 224,362 | 95,970 | (1,654,848) |
Income Tax Payments | (14,668,473) | (42,289,186) | (20,760,287) |
NET CASH (USED IN)/GENERATED BY OPERATING ACTIVITIES (A) | 282,811,126 | 277,361,297 | (39,462,799) |
Payments: | |||
Purchase of PP&E, Intangible Assets and Other Assets | (9,943,268) | (10,753,014) | (16,351,126) |
Capital Contributions in Investments in Subsidiaries, Associates, and Joint Ventures | (209,130) | (154,398) | |
Collections: | |||
Sale of PP&E, Intangible Assets and Other Assets | 650,223 | 399,396 | 5,506,657 |
Dividends Earned | 1,039,311 | 270,635 | |
Sales of Investments in Subsidiaries, Associates and Joint Ventures | 45,181 | ||
NET CASH USED IN INVESTMENT ACTIVITIES (B) | (8,417,683) | (10,237,381) | (10,844,469) |
Payments: | |||
Unsubordinated Debt Securities | (17,057,015) | (42,020,826) | (31,435,239) |
Loans from Local Financial Institutions | (17,747,509) | (53,066,730) | (106,291,309) |
Dividends | (1,925,903) | (3,073,781) | (5,467,754) |
Leases payment | (1,736,133) | (2,012,188) | (2,055,635) |
Collections: | |||
Unsubordinated Debt Securities | 23,882,485 | 17,702,459 | 11,662,209 |
Loans from Local Financial Institutions | 23,012,641 | 29,481,283 | 95,432,959 |
Capital increase | 271,671 | ||
NET CASH (USED IN)/GENERATED BY FINANCING ACTIVITIES (C) | 8,428,566 | (52,989,783) | (37,883,098) |
EXCHANGE INCOME ON CASH AND CASH EQUIVALENTS (D) | 44,397,131 | 49,517,668 | 104,957,237 |
NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C+D) | 327,219,140 | 263,651,801 | 16,766,871 |
MONETARY LOSS RELATED TO CASH AND CASH EQUIVALENTS | (257,054,890) | (168,842,685) | (253,782,133) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 571,796,903 | 476,987,787 | 714,003,049 |
CASH AND CASH EQUIVALENTS AT END OF THE YEAR | $ 641,961,153 | $ 571,796,903 | $ 476,987,787 |
Accounting Policies and Basis f
Accounting Policies and Basis for Preparation | 12 Months Ended |
Dec. 31, 2021 | |
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 on 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. (hereinafter, “Naranja X”), which maintains investments related to the issuance of credit cards and services for managing personal and commercial finance; Sudamericana Holding S.A., a company engaged in the insurance business; Galicia Asset Management S.A.U., 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.U. a settlement and compensation agent and Trading Agent – Own Portfolio. These consolidated financial statements were approved and authorized for publication through Minutes of Board of Directors’ Meeting No. 654 dated April 2 5 1.1. BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with 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 Communication “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 February 15, 2022. Shareholders’ equity under the rules of the Argentine Central Bank is presented in Note 52.8. Management believes 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, non-monetary Non-monetary non-monetary 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%. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy (c) New Accounting Standards The Group has applied the following standards for the first time as of January 1, 2021: i. Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 y IFRS 16: Reform to interest rate benchmark (IBOR reform). The IASB published the proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues that arise during the reform of an interest rate benchmark, including its replacement by alternative interest rates. The most significant amendments are those related to the accounting of financial instruments at amortized cost. For those instruments measured at amortized cost, the amendments propose, as a practical solution, that entities account for the change as a consequence of the IBOR reform, by updating the effective interest rate in accordance with paragraph B5.4.5 of IFRS 9. Consequently, no immediate profits or losses are recognized. This practical solution only applies to that amendment, and only if (i) it is required as a direct consequence of IBOR reform; and (ii) the new rate is equivalent to the previous rate in economic terms. According to the amendments to IFRS 16, a lessee shall apply a similar practical solution when accounting for a lease modification that changes the basis for determining future lease payments resulting from the IBOR reform (for example, in cases where lease payments are subject to an interest rate benchmark). The amendments which came into force as of January 1, 2021, do not have any substantial impact on the Group’s financial statements. ii. Amendment to IFRS 16 Leases: COVID-19-Related Rent Concessions Many lessors have provided, or expect to provide, rent concessions to lessees as a consequence of COVID-19 pandemic. Said concessions can be of varied nature, including grace periods and deferral of lease payments, sometimes followed by an increase in rental payments in future periods. IFRS 16 contains requirements that apply to these concessions. However, the IASB noted that it could be difficult to apply those requirements to a potentially large volume of COVID-19-related rent concessions, especially in light of the many other challenges faced by stakeholders during the pandemic. As a result, the IASB provided some relief to the lessees (but not to the lessors) in the form of an optional exemption to evaluate whether a COVID-19-Related Rent Concession means a lease modification. The lessees may opt for accounting for rent concessions in the same way as they would do it if they were not lease modifications. In many cases, this fact will lead to account for concessions as a variable lease payment. This simplification only applies to rent concessions taking place as a direct consequence of COVID-19 pandemic. Lessees using this exemption must disclose this fact, as well as the amount recognized in Income arising from COVID-19-related rent concessions. If a lessee chooses to apply the practical solution to a lease, it will apply it systematically to all lease contracts with similar characteristics and under similar circumstances. The amendment will be retrospectively applied in accordance with IAS 8, but lessees are not required to restate the figures of prior periods or provide the disclosure in accordance with paragraph 28 (f) of IAS 8. The mandatory amendments applicable to annual periods beginning as of June 1, 2020, do not have any impact on the Group’s financial statements. (f) New accounting standards and amendments issued by the 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 fiscal years commenced January 1, 2021, and have not been early adopted by the Group: i. Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28. The IASB made specific amendments to IFRS 10 “Consolidated Financial Statements” and to IAS 28 “Investments in Associates and Joint Ventures.” These amendments clarify the accounting for sales or contributions of assets between an investor and its associates or joint ventures and confirm that the accounting treatment depends on whether the non-monetary non-monetary ii. IFRS 17 “Insurance Contracts.” On May 18, 2017, the IASB issued IFRS 17 “Insurance Contracts,” which provides a comprehensive, principle-based framework for the measurement and presentation of all insurance contracts. The new standard will replace IFRS 4 “Insurance Contracts” and requires that insurance contracts be measured using current compliance cash flows and that revenues be recognized as the service is provided during the coverage period. This standard is effective for fiscal years commencing on or after January 1, 2023. The Group is evaluating the impact of adopting this new standard. iii. 2018-2020 Annual Improvements: • Commissions included in the 10% test for derecognition of financial liabilities The amendment to IFRS 9 establishes the commissions to be included in the 10% test to determine the derecognition of financial liabilities. The costs or commissions could be paid to third parties or the lender. According to the amendment, the costs or commissions paid to third parties will not be included in the 10% test. • Subsidiaries adopting the IFRS for the first time IFRS 1 grants an exemption to subsidiaries adopting the IFRS after their parent company. The subsidiary may measure its assets and liabilities at the carrying amounts that would have been included in the consolidated financial statements of its parent company, based on the parent’s transition date to IFRS, if no adjustments were made for consolidation purposes, and for the purposes of the business combination by which the parent acquired the subsidiary. IFRS 1 was amended to allow entities that have used the IFRS 1 exemption to also measure the accumulated translation differences using the amounts reported by the parent company, according to the parent’s transition date to the IFRS. The amendment to IFRS 1 extends the exemption to the aforementioned accumulated translation differences to reduce the costs of the entities adopting the IFRS for the first time. The amendment will also apply to the associates and joint ventures that have used the same exemption to IFRS 1. All the amendments come into force as of January 1, 2022. iv. Amendments to IAS 1 Presentation of Financial Statements, IFRS Practice Document 2, and IAS 8 Accounting Standards, Changes in Accounting Estimates, and Errors The IASB amended IAS 1 Presentation of Financial Statements Making Judgments Related to Materiality The amendment to IAS 8 Accounting Standards, Changes in Accounting Estimates, and Errors These amendments are applicable to fiscal years commenced on or after January 1, 2023. Early application is allowed. Amendments must be prospectively applied. It is estimated that they do not have any substantial impact on the Group’s financial statements. v. Amendments to IAS 16 Property, Plant and Equipment - Assets obtained before the intended use. The amendments prohibit a company from deducting from the cost of the good the amounts received from sales made while the company is preparing the asset for its intended use. The revenue from selling such products or samples, jointly with production costs, will be recognized in other comprehensive income of the corresponding period. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. vi. Amendments to IAS 37 - Onerous Contracts - Cost of Fulfilling a Contract These amendments specify the costs that a company must include when evaluating whether a contract will cause deficit. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. vii. Amendments to IFRS 3 Recognition and Measurement of identifiable assets acquired, liabilities assumed, and any non-controlling interest in the acquiree. It updates a IFRS 3 reference to the Conceptual Framework of Financial Reporting without changing the accounting requirements for business combinations. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. viii. Amendment to IAS 12 – deferred tax related to assets and liabilities arising from a single transaction. These amendments require companies to recognize deferred tax on transactions that, on initial recognition give rise to equal amounts of taxable and deductible temporary differences. 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, 2021. 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 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 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 The Group treats transactions with non-controlling non-controlling non-controlling 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, 2021, and December 31, 2020, balances in U.S. Dollars were translated at the reference exchange rate (Ps.102.75 and Ps.84.145, 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 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 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, c |
Critical Accounting Estimates
Critical Accounting Estimates | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Critical Accounting Estimates | NOTE 2. CRITICAL ACCOUNTING ESTIMATES The preparation of consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise 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 where the assumptions and estimates are significant to the consolidated financial statements, and which are essential to understand the underlying accounting/financial reporting risks. a. FAIR VALUE OF LEVEL 3 FINANCIAL INSTRUMENTS The fair value of financial instruments classified as level 3 are not listed in active markets and is therefore determined by using valuation techniques. The valuation of level 3 financial instruments involves one or more inputs which are unobservable and significant to their fair value measurement. The Group uses valuation models and unobservable inputs, including projected cash flows, discount rates and volatilities and correlations relating to interest rates and spreads, to estimate the fair value of level 3 financial instruments. These valuation techniques require management to make significant estimates and judgments. b. VALUATION OF EXPECTED CREDIT LOSS ALLOWANCE The Group records the allowance for loan losses under the expected credit losses (ECL) method included in IFRS 9. The ECL is typically estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio as well as an economic outlook over the life of the loan. The most significant judgments of the model relate to making assumptions about macroeconomic scenarios. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, unemployment rates, gross domestic product levels and corporate bond spreads. As any one economic outlook is inherently uncertain, the Group leverages multiple scenarios. The scenarios developed and the weighting given to each scenario depend on a variety of factors including recent economic events, leading economic indicators, views of internal and third-party economists and industry trends. A high degree of uncertainty is involved in making estimations using assumptions that are highly subjective and very sensitive to the risk factors. c. IMPAIRMENT OF NON-FINANCIAL 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, 2021 | |
Text block [abstract] | |
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 12.31.21 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 237,426,843 — Argentine Central Bank’s Bills and Notes 181,567,431 — — Government Securities 51,904,219 — — Corporate Securities 2,465,248 — — Derivative Financial Instruments 1,247,078 — — Repurchase Transactions — 203,205,457 — Other Financial Assets 10,039,375 13,332,551 — Loans and Other Financing — 744,433,702 — Other Debt Securities — 90,126,580 4,230,419 Financial Assets Pledged as Collateral 12,051,320 23,184,348 — Investments in Equity Instruments 1,251,934 — — Liabilities Deposits — 1,035,957,929 — Liabilities at fair value through profit or loss 75,674 — — Derivative Financial Instruments 712,129 — — Repurchase Transactions — 324,119 — Other Financial Liabilities — 195,659,168 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 23,710,704 — Debt Securities — 27,971,776 — Subordinated Debt Securities — 26,275,536 — Portfolio of Instruments as of 12.31.20 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 264,787,060 — Argentine Central Bank’s Bills and Notes 193,695,730 — — Government Securities 36,652,618 — — Corporate Securities 4,244,475 — — Derivative Financial Instruments 3,267,935 — — Repurchase Transactions — 92,067,820 — Other Financial Assets 4,214,265 11,021,219 — Loans and Other Financing — 794,608,259 — Other Debt Securities — 28,505,749 6,317,055 Financial Assets Pledged as Collateral 3,072,506 25,179,908 — Investments in Equity Instruments 8,621,309 — — Liabilities Deposits — 1,020,886,486 — Liabilities at fair value through profit or loss — — — Derivative Financial Instruments 86,716 — — Other Financial Liabilities — 147,171,842 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 20,880,419 — Debt Securities — 25,771,621 — Subordinated Debt Securities — 32,684,216 — |
Fair Values
Fair Values | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 within the 5 business days of the valuation date, and there is an active market for the instrument, this will be included in Level 1. Otherwise, it will be included in Level 3. Fair Value Level 2: The fair value of financial instruments not traded in active markets, for example, over-the-counter 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. 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, both directly (i.e., prices) and indirectly (i.e., deriving from 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 as of December 31, 2020, 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 12.31.21 Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Argentine Central Bank’s Bills and Notes — 181,567,431 — Government Securities 48,196,411 1,980,000 1,727,808 Corporate Securities 2,127,047 — 338,201 Derivative Financial Instruments — 1,247,078 — Other Financial Assets 4,442,031 12,038 5,585,306 Other Debt Securities (*) 4,230,419 — — Financial Assets Pledged as Collateral 12,051,320 — — Investments in Equity Investments 64,585 — 1,187,349 Liabilities Liabilities at fair value through profit or loss 75,674 — — Derivative Financial Instruments — 712,129 — Total 71,036,139 184,094,418 8,838,664 (*) It relates to Government Securities measured at fair value through other comprehensive income. Portfolio of Instruments as of 12.31.20 Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Argentine Central Bank’s Bills and Notes — 193,695,730 — Government Securities 34,973,924 1,375,652 303,042 Corporate Securities 2,496,545 — 1,747,930 Derivative Financial Instruments — 827,053 2,440,882 Other Financial Assets 4,167,088 47,177 — Other Debt Securities (*) 913,191 5,403,864 — Financial Assets Pledged as Collateral 3,072,506 — — Equity Investments 354,372 — 8,266,937 Liabilities Liabilities at fair value through profit or loss — — — Derivative Financial Instruments — 86,716 — Total 45,977,626 201,262,760 12,758,791 (*) 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 12.31.20 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.21 Government Securities 303,042 720,774 2,403,032 (1,703,054 ) (41,167 ) 45,181 1,727,808 Corporate Securities 1,747,930 (115,844 ) 1,129,266 (729,099 ) 47,218 (1,741,270 ) 338,201 Other Financial Assets — — 5,585,306 — — — 5,585,306 Derivative Financial Instruments 2,440,882 — — (1,617,103 ) — (823,779 ) — Financial Assets Pledged as Collateral — — — — — — — Investments in Equity Instruments 8,266,937 423,148 — (5,112,660 ) 510,341 (2,900,417 ) 1,187,349 Total 12,758,791 1,028,078 9,117,604 (9,161,916 ) 516,392 (5,420,285 ) 8,838,664 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.19 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.20 Government Securities 10,670,072 (2,617,950 ) 27,958,069 (34,635,558 ) 1,381,483 (2,453,074 ) 303,042 Corporate Securities 379,876 186,587 5,811,807 (4,522,684 ) 150,677 (258,333 ) 1,747,930 Derivative Financial Instruments 1,912,183 — — — 1,036,317 (507,618 ) 2,440,882 Financial Assets Pledged as Collateral 2,120,733 (316,742 ) 1,057,284 (2,385,732 ) (244,960 ) (230,583 ) — Investments in Equity Instruments 9,026,169 — — — 1,588,273 (2,347,505 ) 8,266,937 Total 24,109,033 (2,748,105 ) 34,827,160 (41,543,974 ) 3,911,790 (5,797,113 ) 12,758,791 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. Transfers occurred because the instruments without observable valuation prices at the closing of the fiscal year were reclassified to Level 3, and the instruments with observable market quotes at the closing of the fiscal year were reclassified to Level 1 from Level 3. There were no transfers between Level 2 and Level 3. 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 12.31.21 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 237,426,843 237,426,843 237,426,843 — — Repurchase Transactions 203,205,457 203,205,457 203,205,457 — — Loans and Other Financing 744,433,702 748,649,983 — — 748,649,983 Other Financial Assets 13,332,551 13,660,673 9,550,403 — 4,110,270 Other Debt Securities 90,126,580 90,126,580 — — 90,126,580 Financial Assets Pledged as Collateral 23,184,348 23,184,348 23,184,348 — — Liabilities Deposits 1,035,957,929 1,035,936,049 — — 1,035,936,049 Repurchase Transactions 324,119 324,119 — — 324,119 Financing Received from the Argentine Central Bank and Other Financial Institutions 23,710,704 23,574,332 — — 23,574,332 Debt Securities 27,971,776 27,578,207 23,133,327 — 4,444,880 Subordinated Debt Securities 26,275,536 25,938,727 — — 25,938,727 Other Financial Liabilities 195,659,168 195,484,656 — — 195,484,656 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 264,787,060 264,787,060 264,787,060 — — Repurchase Transactions 92,067,820 92,067,820 92,067,820 — — Loans and Other Financing 794,608,259 796,722,083 — — 796,722,083 Other Financial Assets 11,021,219 11,184,121 6,640,801 — 4,543,320 Other Debt Securities 28,505,749 28,532,180 — — 28,532,180 Financial Assets Pledged as Collateral 25,179,908 25,179,908 25,179,908 — — Liabilities Deposits 1,020,886,486 1,020,882,232 — — 1,020,882,232 Financing Received from the Argentine Central Bank and Other Financial Institutions 20,880,419 19,163,963 — — 19,163,963 Debt Securities 25,771,621 24,464,155 18,427,059 — 6,037,096 Subordinated Debt Securities 32,684,216 31,983,918 — — 31,983,918 Other Financial Liabilities 147,171,842 146,586,013 — — 146,586,013 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 12.31.19 Net cash and Due from Banks (1) 237,426,843 264,787,060 268,474,449 Argentine Central Bank’s Bills and Notes Maturing up to 90 Days (2) 181,567,431 193,695,729 119,475,780 Reverse repurchase Transactions Debtors (3) 202,522,230 91,835,978 61,640,389 Loans to Financial Institutions (3) 6,582,500 9,811,206 — Overnight Placements in Foreign Banks (4) 5,615,877 2,508,399 16,181,981 Mutual Funds (5) 4,442,031 4,167,088 10,210,476 Time Deposits (3) 3,804,241 4,991,443 1,004,712 Total Cash and Cash Equivalents 641,961,153 571,796,903 476,987,787 (1) Net of Cash and Cash Equivalents for spot purchases or sales pending settlement. (2) Included within Repurchase transactions. (3) Included within Loans and Other Financing. (4) Included within Other financial assets. (5) Included within Debt Securities at Fair Value through Profit or Loss. The risk analysis for cash and cash equivalents is presented in Note 45. Related parties information 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, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
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 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, 2021, and 2020 are as follows: Underlying Asset Type of Settlement 12.31.21 (*) 12.31.20 (*) Currency Forward Transactions Purchases Foreign currency Daily difference 76,738,445 38,817,252 Sales Foreign currency Daily difference 57,740,766 21,627,556 Customers´ Purchases Foreign currency Daily difference 10,162,388 2,338,623 Customers´ Sales Foreign currency Daily difference 31,398,862 18,963,363 Interest Rate Swaps Swaps Others Other — 125,144 Repurchase Transactions Forward Purchases Government Securities With delivery of the 323,534 — Forward Sales Government Securities With delivery of the 204,755,685 93,468,930 (*) Notional values. For further details, refer to Schedule O. |
Repurchase Transactions
Repurchase Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Repurchase Transactions | NOTE 8. REPURCHASE TRANSACTIONS As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.21 12.31.20 Debtors for Reserve Repurchase Transactions of Government Securities 202,522,230 91,835,978 Interest Accrued Receivable for Reserve Repurchase Transactions 683,227 231,842 Total Repurchase Transactions—Assets 203,205,457 92,067,820 12.31.21 12.31.20 Creditors for Repurchase Transactions of Government Securities 322,881 — Interest Accrued Payable for Repurchase Transactions 1,238 — Total Repurchase Transactions—Liabilities 324,119 — The notional values of the assets transferred in repurchase transactions are presented in Note 7 and Schedule O. 12.31.21 12.31.20 Reverse Repurchase Transactions recorded in Off-Balance 204,795,923 93,468,930 Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral 323,534 — |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other Financial Assets | NOTE 9. OTHER FINANCIAL ASSETS As of the indicated dates, the balances of “Other Financial Assets” were as follows: 12.31.21 12.31.20 Receivables from Spot Sales of Foreign Currency Pending Settlement 397,058 162,326 Receivables from Spot Sales of Government Securities Pending Settlement 3,482,549 1,871,480 Sundry Debtors (*) 13,332,784 7,275,171 Mutual Funds 4,442,031 4,167,088 Premiums from financial guarantee contracts 298,923 730,600 Interest accrued receivable 1,456,260 1,018,145 Fiduciary Participation Certificates 12,038 47,177 Balances from claims pending recovery 15,121 43,284 Others — 4,294 Minus: Allowances (64,838 ) (84,081 ) Total 23,371,926 15,235,484 (*) It includes the receivable for the sale the shareholding in Prisma Medios de Pago. See Note 54 for further information. The credit rating quality analysis of Other Financial Assets as of December 31, 2021, was as follows: Debtors Debtors for Sundry Mutual Premiums Interest Fiduciary Balances Not yet due 397,058 3,482,549 13,324,323 4,442,031 298,923 1,456,260 12,038 15,121 Impaired/Uncollectible — — 8,461 — — — — — Allowances — — (64,838 ) — — — — — Total 397,058 3,482,549 13,267,946 4,442,031 298,923 1,456,260 12,038 15,121 The main factors considered by the Group to determine the impaired assets are their due date status and the possibility to realize the related collateral, if appropriate. Related-party information is disclosed in Note 51. |
Loans and Other Financing
Loans and Other Financing | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 Non-financial 498 504 Argentine Central Bank 533 19,917 Financial Institutions 12,746,201 22,189,326 Loans 12,746,201 22,189,326 Non-financial 779,004,889 828,599,473 Loans 765,880,766 810,868,509 Advances 53,152,720 44,104,286 Notes 194,471,663 217,007,796 Mortgage Loans 18,419,566 24,884,743 Pledge Loans 16,220,243 17,488,993 Personal Loans 65,896,440 55,099,972 Credit Card Loans 367,957,854 364,966,327 Other Loans 22,806,981 54,990,173 Accrued Interest, Adjustments and Quotation Differences Receivable 29,353,974 35,697,497 Documented Interest (2,398,675 ) (3,371,278 ) Financial Leases 1,114,408 2,800,073 Other Financing 12,009,715 14,930,891 Less: Allowances (47,318,419 ) (56,200,961 ) Total 744,433,702 794,608,259 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 by maturity term of Loans and Other Financing is detailed in Schedule D. The risk analysis for Loans and Other Financing is presented in Note 45. Related parties information is disclosed in Note 51. |
Other Debt Securities
Other Debt Securities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 Deposits as Collateral 16,394,982 10,414,132 Special Accounts as Collateral—Argentine Central Bank 18,517,152 17,274,590 Trust as Collateral — 563,692 Forward Purchases of monetary regulatory instruments 323,534 — Total 35,235,668 28,252,414 The restricted availability assets are detailed in Note 52.2. |
Current Income Tax Assets
Current Income Tax Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Current Income Tax Assets | NOTE 13. CURRENT INCOME TAX ASSETS As of the indicated dates, the balances of Current Income Tax Assets correspond to: 12.31.21 12.31.20 Tax Advances 76,381 297,497 Total 76,381 297,497 |
Investments In Equity Instrumen
Investments In Equity Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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. (Prisma) Within the framework of the divestment commitment assumed by Prisma and its shareholders before the National Commission for the Defense of Competition, on February 1, 2019, the Bank sold 3,182,444 ordinary shares of Nominal Value Ps.1 each and one vote per share in Prisma to AL ZENITH (Netherlands) B.V. (a company linked to Advent International Global Private Equity), equivalent to 51% of the Bank’s shareholding in that company. The final sale price contemplated in the sale agreement signed by the parties amounted to USD 104,469, of which USD 63,073 were paid in February 2019 and USD 41,396 will be paid in two annual installments in years 2026 and 2027. On October 1, 2021, the Bank, together with all other Prisma’s Class B shareholders, notified AL ZENITH (Netherlands) B.V. the exercise of the put option contemplated in the sale agreement entered into in February 2019. As a result of the exercise of the put option, the process to sell the remaining 49% shareholding in Prisma to AL ZENITH (Netherlands) B.V. was initiated. As of December 31, 2021, the Group´s remaining holding in Prisma Medios de Pago S.A. has been classified as Other Financial Assets and measured at fair value through profit or loss. In March 2022, the Bank executed the sale of the remaining shareholding in Prisma to AL ZENITH (Netherlands) B.V. The final sale price contemplated in the new sale agreement signed by the parties amounted to USD 54,358 and will be paid as follows: (i) 30% in Pesos, adjusted by a CER (UVA) rate plus a nominal annual rate of 15% and (ii) 70% in US Dollars at a nominal annual rate of 10% within a term of six years. |
Equity Investments in Subsidiar
Equity Investments in Subsidiaries, Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 interest and shareholding percentages in companies over which the Group exerts control, and which are consolidated by the Group, are detailed below: Direct and Indirect Shareholding Equity Investment Company 12.31.21 12.31.20 12.31.21 12.31.20 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 3,910,000 100.00 % 100.00 % Galicia Asset Management S.A.U. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,309 71,309 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.U. 95,392,000 95,392,000 100.00 % 100.00 % Galicia Seguros S.A.U. 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 77,643,963 100.00 % 100.00 % INVIU 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 1,012,567,500 100.00 % 100.00 % Ondara S.A. 25,776,101 25,776,101 100.00 % 100.00 % Sudamericana Holding S.A. 185,653 185,653 100.00 % 100.00 % Tarjeta Naranja S.A. 2,824 2,824 100.00 % 100.00 % Tarjetas Regionales S.A. 1,680,183,936 1,680,183,936 100.00 % 100.00 % The following are the balances of subsidiaries, according to IFRS as of the indicated dates: 12.31.21 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 1,475,481,065 1,223,387,627 252,093,438 22,932,127 Cobranzas Regionales S.A. 4,480,289 3,042,245 1,438,044 (1,372,320 ) Galicia Asset Management S.A.U. 2,794,107 937,219 1,856,888 2,132,887 Galicia Broker Asesores de Seguros S.A. (**) 85,872 30,412 55,460 53,408 Galicia Retiro Compañía de Seguros S.A. (**) 691,989 551,473 140,516 (25,995 ) Galicia Securities S.A.U. 4,234,744 3,564,205 670,539 459,039 Galicia Seguros S.A.U. (**) 6,626,001 4,307,192 2,318,809 1,240,064 Galicia Warrants S.A. 1,020,516 314,499 706,017 12,932 IGAM LLC 675,266 288 674,978 (1,150,556 ) INVIU Uruguay Agente de Valores S.A. 76,225 4,228 71,997 (28,369 ) INVIU S.A.U. 1,796,569 1,296,313 500,256 (930,514 ) Naranja Digital Compañía Financiera S.A.U. 1,315,560 90,392 1,225,168 (880,922 ) Ondara S.A. 34,133 14 34,119 (13,618 ) Sudamericana Holding S.A. (**) 2,743,029 11,276 2,731,753 1,197,774 Tarjeta Naranja S.A. 193,754,221 154,552,978 39,201,243 9,088,823 Tarjetas Regionales S.A. 44,812,562 5,364 44,807,198 6,223,420 (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2021. 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 1,427,936,985 1,198,775,669 229,161,316 31,276,853 Cobranzas Regionales S.A. 2,240,407 1,907,665 332,742 (857,134 ) Galicia Asset Management S.A.U. 2,086,118 707,491 1,378,627 1,692,895 Galicia Broker Asesores de Seguros S.A. (**) 71,291 30,709 40,582 61,463 Galicia Retiro Compañía de Seguros S.A. (**) 765,344 597,963 167,381 5,520 Galicia Securities S.A.U. (***) 3,874,213 3,358,527 515,686 347,259 Galicia Seguros S.A.U. (**) 7,121,052 4,607,949 2,513,103 1,853,355 Galicia Warrants S.A. 1,060,887 259,245 801,642 (62,149 ) IGAM LLC 656,675 136,709 519,966 236,251 INVIU Uruguay Agente de Valores S.A. 1,306 4,226 (2,920 ) (4,229 ) INVIU S.A.U. 654,001 241,624 412,377 242,186 Naranja Digital Compañía Financiera S.A.U. 1,258,530 82,897 1,175,633 (650,865 ) Ondara S.A. 47,879 142 47,737 (20,427 ) Sudamericana Holding S.A. (**) 3,991,335 85,940 3,905,395 1,985,486 Tarjeta Naranja S.A. 152,856,085 116,853,134 36,002,951 5,021,233 Tarjetas Regionales S.A. 38,627,624 43,847 38,583,777 3,260,735 (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2020. (***) Net income for the period between the purchase date and December 31,2020. Corporate Reorganization On September 14, 2020, a Prior Spin-off-Merger spin-off spin-off The documents related to the Spin-off-Merger 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 16, 2020, the Final Spin-off-Merger spin-off 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. 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. On June 15, 2021, Grupo Financiero Galicia S.A. sold 10,000 shares of Tarjetas Regionales S.A., representing 0.000569%, to Galicia Securities S.A.U. 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 Ps. Ps. Ps. 15.2 Equity Investments in Associates 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 the financial system users in order to 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 12.31.21 12.31.20 Play Digital S.A. 13.06 % Autonomous 169,347 134,552 The movements of such investment are as follows: Company 12.31.20 Contributions (1) Sales of Profit Sharing 12.31.21 Play Digital S.A. 134,552 209,129 (45,182 ) (129,152 ) 169,347 (1) Banco Galicia has made new contributions after the closing. Company 12.31.19 Contributions Sales Profit Sharing 12.31.20 Play Digital S.A. — 323,309 — (188,757 ) 134,552 The basic information regarding Grupo Financiero Galicia’s associates is detailed as follows: Profit Sharing in income (loss) for the Year Company Assets Liabilities Shareholders’ Equity Net Income Play Digital S.A. 1,633,180 336,566 1,296,614 (1,497,307 ) For more details see Schedule E. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 Right-of-use (1) 4,504,770 6,117,050 Real estate 4,504,770 6,117,050 Lease Liabilities (2) 4,381,601 6,586,196 (1) Recorded in Property, Plant and Equipment. (2) Recorded in Other Financial Liabilities, see Note 25. Additions to the right-of-use 602.421 The maturity of lease liabilities is disclosed in Note 45. (ii) Amounts recognized in the Statement of Income: 12.31.21 12.31.20 Charge for depreciation of right-of-use (1)(2) 2,025,313 1,980,809 Interest Expenses (3) 530,330 602,031 Expenses related to short-term leases (4) 249,575 213,884 Expenses related to low-value (4) 235,398 252,296 Sublease Income (5) 2,230 14,777 (1) Depreciation for right of use of Real Property. (2) Recorded in Depreciation and Impairment of assets, see Note 39. (3) Recorded in Other Operating Expenses, Lease Interest, see Note 40. (4) Recorded in Administrative Expenses, see Note 38. (5) Recorded in Other Operating Income, see Note 34. The roll forward of right -of-use Right-of-use 12.31.21 12.31.20 Balances at the beginning of the year 6,117,050 7,564,491 Additions 602,421 950,004 Cancellation of contracts (189,388 ) (416,636 ) Depreciation of the year (2,025,313 ) (1,980,809 ) Balances at the end of the year 4,504,770 6,117,050 Lease liabilities (1) 12.31.21 12.31.20 Balances at the beginning of the year 6,586,196 7,743,286 New contracts 602,421 950,004 Cancellation of contracts (189,388 ) (416,636 ) Lease payments (1,736,133 ) (2,012,188 ) Leases financial cost 530,330 602,031 Translation differences and inflation adjustment (1,411,825 ) (280,301 ) Balances at the end of the year 4,381,601 6,586,196 (1) Recorded in the item Other Financial Liabilities, see Note 25. The total cash flows related to leases was Ps.1,736,133. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
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, 2021, and December 31, 2020, are as follows: Deferred Tax Assets Item 12.31.20 Charge to Income Others 12.31.21 Valuation of Securities 158 (158 ) — — Derivate Instruments — 17,092 — 17,092 Loans and Other Financing 16,961,608 (418,327 ) — 16,543,281 Tax Loss Carryforwards 472,129 423,566 — 895,695 Other Non-financial 45,174 (33,362 ) — 11,812 Other Financial Liabilities 2,809 (2,809 ) — — Subordinated Negotiable Obligations 10,663 (10,663 ) — — Provisions 1,188,513 (928,406 ) — 260,107 Other Non-financial 616,429 425,647 — 1,042,076 Foreign Currency Exchange Differences — 14,341 — 14,341 Inflation adjustment deferral 17,537,474 (511,624 ) (10,578,421 ) 6,447,429 Others 325,620 (212,997 ) — 112,623 Totals 37,160,577 (1,237,700 ) (10,578,421 ) 25,344,456 Net deferred tax assets in subsidiaries with net liability position (23,254,928 ) 2,196,867 — (21,058,061 ) Deferred tax assets 13,905,649 959,167 (10,578,421 ) 4,286,395 Deferred Tax Liabilities Item 12.31.20 Charge to Income Others 12.31.21 Valuation of Securities (1,968,609 ) 582,204 — (1,386,405 ) Other Financial Assets (37,924 ) (113,708 ) — (151,632 ) Property, Plant and Equipment (17,099,811 ) (1,251,247 ) — (18,351,058 ) Intangible Assets (3,992,949 ) (1,597,299 ) — (5,590,248 ) Other Non-financial (275,122 ) 60,103 — (215,019 ) Non-current — — — — Other Financial Liabilities (52,340 ) (84,520 ) — (136,860 ) Subordinated Negotiable Obligations (24,216 ) 24,216 — — Provisions — (651,084 ) — (651,084 ) Other Non-financial (616 ) 616 — — Foreign Currency Exchange Differences (3,660 ) 3,660 — — Inflation adjustment deferral (5,759 ) 78 — (5,681 ) Others (608 ) (60 ) — (668 ) Totals (23,461,614 ) (3,027,041 ) — (26,488,655 ) Net deferred tax liabilities in subsidiaries with net asset position 23,254,928 (2,196,867 ) — 21,058,061 Deferred tax liabilities (206,686 ) (5,223,908 ) — (5,430,594 ) The amount of Ps.10,578,421 exposed in “Others” correspond to the application of the tax inflation adjustment for fiscal year 2020 in Banco Galicia’s tax return filed for said fiscal year. See Note 41. Deferred Tax Assets Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities 77,327 (77,169 ) — 158 Loans and Other Financing 6,458,491 10,503,117 — 16,961,608 Tax Loss Carryforwards 100,550 371,579 — 472,129 Other Non-financial 23,340 21,834 — 45,174 Other Financial Liabilities — 2,809 — 2,809 Subordinated Negotiable Obligations — 10,663 — 10,663 Allowance for Impairment 14,401 (14,401 ) — — Provisions 3,570,300 (2,381,787 ) — 1,188,513 Other Non-financial Liabilities 930,430 (314,001 ) — 616,429 Inflation adjustment deferral 11,946,143 5,591,331 — 17,537,474 Others 135,592 190,028 — 325,620 Totals 23,256,574 13,904,003 — 37,160,577 Net deferred tax assets in subsidiaries with net liability position (17,488,512 ) (5,766,416 ) — (23,254,928 ) Deferred tax assets 5,768,062 8,137,587 — 13,905,649 Deferred Tax Liabilities Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities (43,144 ) (1,925,465 ) — (1,968,609 ) Other Financial Assets (107,223 ) 69,299 — (37,924 ) Property, Plant and Equipment (15,613,004 ) (1,486,807 ) — (17,099,811 ) Intangible Assets (1,502,460 ) (2,490,489 ) — (3,992,949 ) Other Non-financial Assets (1,273,139 ) 998,017 — (275,122 ) Non-current (3,172,947 ) 3,172,947 — — Other Financial Liabilities (52,340 ) — — (52,340 ) Subordinated Negotiable Obligations (24,216 ) — — (24,216 ) Provisions (224,154 ) 224,154 — — Other Non-financial Liabilities (27,437 ) 26,821 — (616 ) Foreign Currency Exchange Differences (6,062 ) 2,402 — (3,660 ) Inflation adjustment deferral — (5,759 ) — (5,759 ) Others (1,659 ) 1,051 — (608 ) Totals (22,047,785 ) (1,413,829 ) — (23,461,614 ) Net deferred tax liabilities in subsidiaries with net asset position 17,488,512 5,766,416 — 23,254,928 Deferred tax liabilities (4,559,273 ) 4,352,587 — (206,686 ) In addition, the expiration dates of tax loss carryforwards are as follows: Year of Generation Amount Year Deferred Tax Assets 2018 40,550 2023 12,165 2019 294,615 2024 88,385 2020 1,238,597 2025 371,579 2021 1,210,189 2026 423,566 2,783,951 895,695 |
Assets_Liabilities for Insuranc
Assets/Liabilities for Insurance Contracts | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 12.31.21 12.31.20 Premiums Receivable 3,139,617 2,804,458 Credits with Reinsurers 17,856 3,013 Fees Receivables 15,085 11,728 Others 44,959 26,639 Total 3,217,517 2,845,838 Liabilities related to insurance contracts as of the indicated dates are detailed as follows: Liabilities from Insurance Contracts 12.31.21 12.31.20 Debts with Insured Persons 813,337 808,659 Debts with Reinsurers 26,059 31,440 Debts with Co-insurers 1,059 2,302 Debts with Producers 590,368 560,996 Technical Commitments 1,743,441 1,681,677 Others 86,814 84,140 Pending Claims in charge of Reinsures (70,449 ) (58,343 ) Total 3,190,629 3,110,871 Debts with Insured Persons 12.31.21 12.31.20 Property & Casualty Insurance 470,063 369,850 Direct Administrative Insurance 278,589 204,885 Direct Insurance in Lawsuits 9,266 7,855 Direct Insurance in Mediation 2,467 2,954 Settled Claims Payable 13,084 8,758 Pending Claims, Active Reinsurance and Retrocession 716 5,054 Claims Incurred but not Reported (IBNR) 146,423 140,344 Others 19,518 — Life Insurance 343,150 438,809 Direct Administrative Insurance 277,999 337,142 Direct Insurance in Lawsuits 20,964 18,789 Direct Insurance in Mediation 7,418 12,057 Settled Claims Payable 1,619 39,980 Pending Claims, Active Reinsurance and Retrocession 21,584 18,035 Claims Incurred but not Reported (IBNR) 13,566 11,921 Redemptions Payable — 885 Retirement Insurance 124 — Annuities Payable in Arrears 124 — Total 813,337 808,659 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 83,820 — (57,761 ) — (70,449 ) (44,390 ) Debts with Co-insurers 1,059 — — — — 1,059 Total as of 12.31.21 84,879 — (57,761 ) — (70,449 ) (43,331 ) Total as of 12.31.20 81,641 — (47,899 ) — (58,343 ) (24,601 ) Debts with Producers 12.31.21 12.31.20 Checking Account—Producers 104,984 92,425 Fees for Premiums Receivable 472,659 440,333 Production Expenses Payable 12,725 28,238 Total 590,368 560,996 Technical Commitments 12.31.21 12.31.20 Ongoing and Similar Risk 1,025,356 921,461 Premiums and Surcharges 949,292 855,946 Premiums on Passive Reinsurance (11,080 ) (21,100 ) Active Reinsurance 87,007 86,615 Insufficient Premiums 137 — Mathematical Reserves 718,085 760,216 Mathematical Reserves for Individual Life Insurance 224,411 232,971 Mathematical Reserves for Individual Retirement Insurance 157,782 170,843 Mathematical Reserves of Life Annuities 225,012 231,597 Provision for the Mathematical Reserve Recomposition 20 21 Fluctuation Funds 110,072 124,784 Others 788 — Total 1,743,441 1,681,677 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: 12.31.21 12.31.20 Mortality Table GAM 94 GAM 94 Investment (Discount) Rate Products in USD: 14.77% annually Products in USD: 14.77% annually Products in Ps.: 7.58% annually Products in Ps.: 7.58% 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 75% of the projection of the BADLAR rate starting from 34.22% plus the correction according to Resolution 2020-321 Administrative Expenses 399.21 for voluntary retirement and 2880.21 for annuities 422.18 for voluntary retirement and 2640.45 for annuities |
Other Non-financial Assets
Other Non-financial Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other Non-financial Assets | NOTE 21. OTHER NON-FINANCIAL “Other Non-financial 12.31.21 12.31.20 Payments on behalf of third parties 890,797 673,257 Advances of fee s 6,875 15,168 Advance s 3,963 5,371 Tax Credits 1,380,337 3,334,086 Payments made in Advance 4,142,665 3,519,557 Advances for Purchase of Assets 981,417 735,958 Investment properties (*) 857,416 876,470 Other Sundry Assets Measured at Cost 1,704,211 1,852,596 Assets Taken in Defense of Credits 7,813 7,813 Others 423,293 503,243 Total 10,398,787 11,523,519 (*) 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, 2021 | |
Text block [abstract] | |
Non-current Assets Held for Sale and Discontinued Operations | NOTE 22. NON-CURRENT The Group has classified the following assets as “Assets Held for Sale and Discontinued Operations”: 12.31.21 12.31.20 Property, Plant and Equipment Real Estate 657 44,268 Total 657 44,268 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Deposits | NOTE 23. DEPOSITS Deposits break down as follows as of the indicated dates: 12.31.21 12.31.20 In Pesos 837,609,140 769,928,815 Checking Accounts 239,632,269 158,529,340 Savings Accounts 239,205,261 276,181,268 Time Deposits 330,576,459 315,034,243 Time Deposits – UVA 15,441,189 8,400,426 Others 3,031,493 2,912,666 Interest and Adjustments 9,722,469 8,870,872 In Foreign Currency 198,348,789 250,957,671 Savings Accounts 163,281,031 202,279,348 Time Deposits 33,943,384 46,993,451 Others 1,057,207 1,544,602 Interest and Adjustments 67,167 140,270 Total 1,035,957,929 1,020,886,486 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, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
Other Financial Liabilities | NOTE 25. OTHER FINANCIAL LIABILITIES The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 Creditors for Purchase to be Settled 30,874,858 497,799 Collections and Other Transactions on Behalf of Third Parties 14,934,005 16,713,307 Obligations for Purchase Financing 132,432,870 113,133,935 Creditors for Purchase of Foreign Currency to be Settled 3,048,154 764,106 Accrued Fees Payable 862,462 918,409 Sundry Items Subject to Minimum Cash 1,156,598 1,886,494 Sundry Items not Subject to Minimum Cash 7,514,509 5,634,324 Financial Liabilities for guarantees and sureties granted (financial guarantee contracts) 343,568 752,989 Cash or equivalents for purchases or cash sales to be settled 100,842 15,778 Lease Liabilities 4,381,601 6,586,196 Other Financial Liabilities 9,701 268,505 Total 195,659,168 147,171,842 The breakdown of Other Financial Liabilities per remaining terms is detailed in Schedule I. |
Loans from the Argentine Centra
Loans from the Argentine Central Bank and Other Financial Institutions | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 Argentine Central Bank Financing 42,326 32,253 Correspondents 3,468,765 2,909,160 Financing from Local Financial Institutions 17,113,859 10,620,820 Financing from Foreign Financial Institutions 345,754 — Financing from International Financial Institutions 2,740,000 7,318,186 Total 23,710,704 20,880,419 The breakdown of loans per remaining terms is detailed in Schedule I. 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 12.31.21 (**) Local Institutions 17,156,185 BICE Sundry Dates Ps. 2,080 days 39.5 Sundry Dates 476,852 BICE Sundry Dates USD 1,449 days 4.2 Sundry Dates 1,276,013 Agreements with Banks (1) Sundry Dates Ps. 364 days 41.6 Sundry Dates 14,760,994 Call Taken 12.30.21 Ps. 4 days 29.5 01.03.22 100,000 Call Taken 12.29.21 Ps. 7 days 30.0 01.03.22 500,000 Argentine Central Bank 12.30.21 Ps. 4 days — 01.03.22 42,326 International Institutions 6,554,519 Correspondents 12.30.21 USD 5 days — 01.03.22 3,468,765 IFC Sundry Dates USD 1,789 days 3.0 Sundry Dates 2,740,000 Pre-financing Sundry Dates USD 180 days 4.1 Sundry Dates 345,754 Total 23,710,704 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Naranja X’ credit lines. Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.20 (**) Local Institutions 10,653,073 BICE Sundry Dates Ps. 1,655 days 30.7 Sundry Dates 2,007,815 BICE Sundry Dates USD 1,705 days 4.3 Sundry Dates 2,769,814 Agreements with Banks (1) 12.14.20 Ps. 365 days 40.8 12.14.21 5,526,212 Call Taken 12.30.20 Ps. 5 days 29.0 01.04.21 316,977 Argentine Central Bank 12.30.20 Ps. 5 days — 01.04.21 32,253 Other Lines (1) Sundry Dates Ps. 11 days 48.1 01.11.21 2 International Institutions 10,227,346 Correspondents 12.30.20 USD 5 days — 01.04.21 2,909,160 IFC Sundry Dates USD 1,552 days 3.2 Sundry dates 7,318,186 Total 20,880,419 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Naranja X’ credit lines. |
Debt Securities
Debt Securities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 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 Tarjeta Naranja 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. (**) Debt securities absorbed by Tarjeta Naranja S.A. resulting from the merger with Tarjetas Cuyanas S.A. The Company has the following Unsubordinated Debt securities outstanding issued under the Global Programs detailed in the table above as of December 31, 202 1 Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.21 Banco de Galicia y Buenos Aires S.A.U. 08.19.21 Ps. IX 1,625,968 Simple 12 08.19.22 Badlar + 3% 05.06.21 1,669,855 Banco de Galicia y Buenos Aires S.A.U. 08.19.21 Ps. X 1,349,672 Simple 9 05.19.22 Fixed rate of 41% 05.06.21 1,063,940 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 15% Rate/ Badlar + 3.50% 03.30.17 1,336,150 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 628,964 Simple 549 01.08.22 Badlar + 4% 06.30.20 663,543 Tarjeta Naranja S.A. 02.17.21 Ps. XLVI 4,000,000 Simple 365 02.17.22 Badlar + 4.72% 09.02.21 4,165,622 Tarjeta Naranja S.A. 04.06.21 USD XLVII USD Simple 742 04.28.23 Fixed rate of 7% 03.23.21 879,406 Tarjeta Naranja S.A. 04.26.21 Ps. XLVIII 5,001,000 Simple 365 04.26.22 Badlar + 5% 04.26.21 5,256,324 Tarjeta Naranja S.A. 08.13.21 Ps. XLIX 2,712,000 Simple 365 08.13.22 Badlar + 5.5% 08.13.21 2,471,656 Tarjeta Naranja S.A. 08.13.21 Ps. XLIX 1,672,844 Simple 720 08.13.23 Badlar + 7.24% 08.13.21 1,726,485 Tarjeta Naranja S.A. 11.10.21 Ps. L 4,050,000 Simple 365 11.10.22 Badlar + 5% 11.10.21 4,126,148 Total 23,359,129 (*) It includes principal and interest. (**) Not convertible into shares. 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 36-month The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 20 20 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 04.26.21 Badlar + 3.5% 04.18.18 2,614,785 Banco de Galicia y Buenos Aires S.A.U. 11.20.20 Ps. VIII 1,589,722 Simple 9 08.20.21 Badlar + 2.25% 04.20.20 1,895,172 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 3,992,390 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 3,574,897 Simple 549 01.08.22 Badlar + 4% 06.30.20 5,447,500 Tarjeta Naranja S.A. 12.18.20 Ps. XLV 3,057,000 Simple 365 12.18.21 Badlar + 5% 12.14.20 3,986,539 Tarjeta Naranja S.A. (** * 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 546,781 Total 18,483,167 (*) 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. The repurchases of Own Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of 12.31.21 Book Value (*) 12.31.21 Tarjeta Naranja S.A. XXXVII 9,820 54,569 Tarjeta Naranja S.A. XLIV 70,000 22,618 Tarjeta Naranja S.A. XLVI 38,000 39,698 Tarjeta Naranja S.A. XLVIII 99,300 102,788 Tarjeta Naranja S.A. XLIX Serie I 355,000 371,688 Tarjeta Naranja S.A. XLIX Serie II 27,000 28,420 Tarjeta Naranja S.A. L 125,479 130,917 Total 750,698 (*) 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 8,045 Banco de Galicia y Buenos Aires S.A.U. VIII 79,000 124,085 Tarjeta Naranja S.A. XXXVII 9,620 160,679 Tarjeta Naranja S.A. XLIV 235,000 380,451 Tarjeta Naranja S.A. XLV 440,000 669,456 Tarjeta Naranja S.A. (**) XXVIII Serie II 18,889 29,280 Total 1,371,996 (*) 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, 2021 | |
Text block [abstract] | |
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 12.31.21 (*) 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 26,275,536 32,684,216 (*) 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, 2021 | |
Text block [abstract] | |
Provisions | NOTE 29. PROVISIONS The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 For Administrative, Disciplinary and Criminal Penalties — 8,009 For Termination Benefits 262,846 333,315 Others 4,118,753 5,358,680 Total 4,381,599 5,700,004 Changes in the “Provisions” account for fiscal year 2021 are detailed in Schedule J. See Note 46 for further details. |
Other Non-financial Liabilities
Other Non-financial Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other Non-financial Liabilities | NOTE 30. OTHER NON-FINANCIAL The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 Creditors for sale of assets 379,702 897,319 Tax withholdings and collections payable 12,754,525 10,196,331 Payroll and Social Contributions Payable 8,913,600 10,652,292 Withholdings on Payroll Payable 530,925 560,350 Fess to Directors and Syndics 237,007 334,366 Value-Added Tax 1,872,488 1,284,863 Sundry Creditors 6,919,749 6,712,568 Taxes Payable 5,963,974 4,937,142 Obligations Arising from Contracts with Customers (*) 2,152,830 2,035,750 Retirement payment orders pending settlement 119,351 136,735 Other Non-financial 381,004 406,928 Total 40,225,155 38,154,644 (*) Including Liabilities for Quiero! Customer Loyalty Program . Deferred income resulting from contracts with customers includes the liabilities for the “ Quiero! non-exchanged 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! 937,709 457,843 460,337 1,855,889 |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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. 19,847 and are deducted from the share premium. The Company has no treasury 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, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 12.31.19 For Purchase sale of foreign currency 2,066,195 7,699,878 25,983,226 For Valuation of Assets and Liabilities in Foreign Currency 2,428,524 2,937,654 (8,124,640 ) Total 4,494,719 10,637,532 17,858,586 |
Other Operating Income
Other Operating Income | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other Operating Income | NOTE 34. OTHER OPERATING INCOME The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Fees for Product Package 8,855,518 9,504,399 8,580,513 Other Adjustments and Interest on sundry Credits 7,080,332 7,918,443 4,694,722 Rental of Safety Deposit Boxes 2,027,792 1,954,995 1,525,192 Other Financial Income 468,544 874,271 2,486,420 Other Income from Services 7,585,940 6,396,211 5,043,328 Income for sale of non-currents (1) — — 14,605,635 Reversed allowances 1,010,670 2,566,042 131,565 Others 8,807,437 4,479,783 6,462,294 Total 35,836,233 33,694,144 43,529,669 (1) Includes the profit from the sale of the shareholding in Prisma Medios de Pago S.A. |
Underwriting Income from Insura
Underwriting Income from Insurance Business | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Underwriting Income from Insurance Business | NOTE 35. UNDERWRITING INCOME FROM INSURANCE BUSINESS The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Premiums and Surcharges Accrued 12,228,062 11,757,410 11,482,456 Claims Accrued (2,240,917 ) (1,700,907 ) (1,589,058 ) Redemptions (31,849 ) (25,425 ) (27,581 ) Fixed and Periodic Annuities (18,868 ) (20,510 ) (23,786 ) Production and Operating Expenses (2,450,832 ) (1,773,954 ) (2,459,131 ) Other Income and Expenses (135,650 ) (98,851 ) (110,684 ) Total 7,349,946 8,137,763 7,272,216 |
Loan Loss Charges
Loan Loss Charges | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Loan Loss Charges | NOTE 36. LOAN LOSS CHARGES The following items are included in the account as of the indicated dates: 12.31.21 12.31.20 12.31.19 Expected credit loss allowance 20,382,127 50,306,792 43,670,035 Direct charge offs 2,880,454 2,567,431 1,611,797 Total 23,262,581 52,874,223 45,281,832 The changes in the expected credit 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, 2021 | |
Text block [abstract] | |
Personnel Expenses | NOTE 37. PERSONNEL EXPENSES The following are the items included in the account as of the indicated dates: 12.31.21 12.31.20 12.31.19 Payroll 27,981,483 29,871,087 30,949,799 Social Contributions on Payroll 6,531,544 6,872,376 6,793,541 Personnel Compensations and Rewards 9,698,832 8,772,365 9,697,005 Services for Personnel 1,183,790 1,155,040 1,468,250 Other Short-term Personnel Expenses 900,868 1,179,677 1,127,034 Other Long-term Personnel Expenses 147,754 186,782 205,234 Total 46,444,271 48,037,327 50,240,863 |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 12.31.19 Fees and Remunerations for Services 2,956,799 4,526,498 6,352,108 Directors’ and Syndics’ Fees 391,080 713,371 335,701 Advertising and Marketing 2,310,136 2,418,915 4,467,170 Taxes 11,610,410 10,946,230 10,472,143 Maintenance and Repairs of Assets and Systems 8,117,717 7,183,943 5,825,779 Electricity and Communications 2,876,293 3,448,805 3,749,480 Representation and Travel Expenses 67,543 88,100 259,985 Stationery and Office Supplies 404,460 633,019 775,809 Rentals 484,973 466,180 204,969 Administrative Services under Contract 7,560,743 7,194,363 6,673,647 Security 1,158,881 1,754,416 2,011,152 Insurance 479,377 372,474 271,604 Armored Transportation Services 2,839,044 2,353,311 4,230,945 Others 3,946,078 4,861,125 4,511,782 Total 45,203,534 46,960,750 50,142,274 |
Depreciation and Impairment of
Depreciation and Impairment of Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Depreciation and Impairment of Assets | NOTE 39. DEPRECIATION AND IMPAIRMENT OF ASSETS The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Depreciation of Property, Plant and Equipment 8,422,576 7,808,724 7,516,828 Amortization of Organization and Development Expenses 6,065,909 4,512,571 2,882,099 Depreciation of other intangible assets 45 — — Others 8,952 183,142 8,413 Total 14,497,482 12,504,437 10,407,340 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Other Operating Expenses | NOTE 40. OTHER OPERATING EXPENSES The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Turnover Tax 32,136,710 23,641,712 26,888,650 Contributions to the Deposit Insurance Scheme 1,611,354 1,598,913 1,773,596 Charges for Other Provisions 1,448,560 4,330,205 3,494,227 Claims 1,442,688 566,501 690,953 Other Financial Expenses — 431,696 3,771,675 Interest on leases 530,330 602,031 771,521 Credit-card-relates expenses 6,473,019 6,772,562 9,126,526 Other Expenses from Services 8,399,254 6,559,676 4,496,278 Others 1,792,154 1,629,319 1,941,153 Total 53,834,069 46,132,615 52,954,579 |
Income Tax_Deferred Tax
Income Tax/Deferred Tax | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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, 2021, as compared to the previous fiscal year: 12.31.21 12.31.20 12.31.19 Income Before Income Tax for the Year 47,622,602 69,377,872 83,825,371 Current Tax Rate 35 % 30 % 30 % Income for the Year at Tax Rate (16,667,911 ) (20,813,362 ) (25,147,611 ) Permanent Differences at Tax Rate - Income for Equity Instruments (45,204 ) (56,627 ) — - Untaxed Income 202,679 251,935 196,511 - Donations and Other Non-deductible (4,941 ) (48,328 ) (32,645 ) - Other 234,292 (4,530,586 ) (125,416 ) - Inflation effect (27,709,518 ) (19,060,769 ) (23,249,228 ) - Tax Adjustment 443,643 1,049,733 (176,309 ) - Tax inflation adjustment 27,101,964 4,369,780 2,537,212 - Tax inflation adjustment deferral — 7,684,011 11,946,153 Total Income Tax Charge for the Year (16,444,996 ) (31,154,213 ) (34,051,333 ) 12.31.21 12.31.20 12.31.19 Current Income Tax (12,966,517 ) (40,218,255 ) (31,335,461 ) Deferred Tax Charge (*) (4,264,741 ) 12,490,174 4,152,811 Update of the charge tax (832,543 ) (4,438,430 ) (6,774,834 ) Tax Return adjustment from previous fiscal year 1,618,805 1,012,298 (93,849 ) Total Income Tax Charge for the Year (16,444,996 ) (31,154,213 ) (34,051,333 ) (*) See Note 19. 12.31.21 12.31.20 12.31.19 Current Income Tax (12,966,517 ) (40,218,255 ) (31,335,461 ) Tax Advances 3,817,169 17,233,657 10,139,883 Current Income Tax Liabilities (9,149,348 ) (22,984,598 ) (21,195,578 ) Tax Inflation Adjustment • Law 27,430 introduced an amendment establishing that the subjects referred to in paragraphs a) to e) of Article 53 of the current Income Tax Act, for the purposes of determining the net taxable earnings, should deduct or incorporate the tax inflation adjustment to the tax income for the fiscal year being settled. Said adjustment would be applicable in the fiscal year where a variation percentage of the consumer price index is verified, greater than one hundred percent (100%), accumulated in the thirty-six (36) months prior to the closing of the fiscal year being settled. • The positive or negative inflation adjustment, as the case may be, to be calculated, would be charged as follows: for the first and second fiscal years commenced on or after January 1, 2019, one sixth (1/6) had to be charged in that fiscal year, and the remaining five sixths (5/6), in equal parts, in the following five (5) immediate fiscal years. Later, for fiscal years commencing on or after January 1, 2021, the inflation adjustment would be charged in full (100%), with no deferral at all. In this regard, the whole inflation adjustment calculated for this year has to be included in the current fiscal year. Banco Galicia, considering the jurisprudence on this matter, as evaluated by legal and tax advisers, submitted its annual income tax return for fiscal year 2020 to the Federal Administration of Public Revenues (Administración Federal de Ingresos Públicos, AFIP), considering the total effect of the tax inflation adjustment. See Note 19. Tax rates On December 23, 2019, the Argentine Executive Branch promulgated Law 27,541, which introduced several changes as detailed below: • Income tax rate: the tax rate reduction is suspended for fiscal years commenced up to January 1, 2021, this date included therefore, for fiscal years closing on December 31, 2020 and December 31, 2021, the rate is established at 30%. • Tax on Dividends: For the period of suspension of the aforementioned Income Tax rate, to dividends or profits distributed to human persons, undivided estates or foreign beneficiaries, the rate of 7% applies. On June 16, 2021, Law 27,630 was enacted establishing a new graduated income tax rate structure for capital companies, with three segments in relation to the level of accumulated taxable net earnings, to be applied for fiscal years commencing on or after January 1, 2021, this date included. The new rates within this procedure are as follows: • Up to Ps.5,000,000 of accumulated taxable net earnings will pay a 25% rate; • More than Ps.5,000,000, and up to Ps.50,000,000 of accumulated taxable net earnings will pay a Ps.1,250,000 fixed amount plus a 30% rate on the excess of Ps.5,000,000; • More than Ps.50,000,000 of accumulated taxable net earnings will pay a Ps.14,750,000 fixed amount plus a 35% rate on the excess of Ps.50,000,000; The amounts provided for above will be annually adjusted as of January 1, 2022, based on the annual variation of the Consumer Price Index (CPI) provided by the National Institute of Statistics and Censuses (INDEC), for the month of October of the year prior to the adjustment, against the same month of the previous year. This amendment will be effective for fiscal years beginning on or after January 1, 2021. The Company has recorded the impact of this change in these financial statements. • Tax on Dividends: It is established that, for the dividends or profits distributed to human persons, undivided estates or foreign beneficiaries, the rate of 7% applies. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Dividends | NOTE 42. DIVIDENDS The Ordinary and Extraordinary Shareholders’ Meeting held on April 27, 2021, approved the partial use of the Optional Reserve for Future Income Distribution for the amount of Ps.1,500,000 (equivalent to Ps.1,925,903 in closing currency) and the distribution of cash dividends for the same amount, which represented Ps.1.02 (figure expressed in Argentine pesos) per share. On May 10, 2021, the aforementioned dividends were paid to the Company’s Shareholders. 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.7,512,568 as of December 31, 2021) 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.2,856,661 as of December 31, 2021) 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.5,467,754 as of December 31, 2021) 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. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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. 12.31.21 12.31.20 12.31.19 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 31,094,407 37,993,605 48,718,493 Weighted Average Ordinary Shares 1,474,692 1,442,740 1,426,765 Earnings per Share 21.09 26.33 34.15 |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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. Bank: It represents the banking business operation results. b. 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.U. and Galicia Broker Asesores de Seguros S.A. d. Other Businesses: This segment shows the results of operations of Galicia Asset Management S.A.U., Galicia Warrants S.A., IGAM LLC, Inviu S.A.U., INVIU Uruguay Agente de Valores 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. It should be noted that as of July 26, 2021, INVIU Uruguay Agente de Valores S.A. was authorized by the Central Bank of Uruguay to operate as a Securities Agent, in order to provide financial advice to foreign customers. At the closing of the fiscal year, the volume of operations reached by said Company was not significant. The relevant segment reporting as of the indicated dates is as follows: Bank Naranja X Insurance Other Adjustments Total as of 12.31.21 Net Income from interest 68,866,522 37,434,237 2,331,884 79,211 565,684 109,277,538 Net fee Income 31,875,806 27,713,054 — (26,882 ) (1,772,399 ) 57,789,579 Net Income from Financial Instruments measured at fair value through Profit or Loss 95,560,838 418,401 (1,511,149 ) 1,480,627 (338,882 ) 95,609,835 Income from Derecognition of Assets Measured at Amortized Cost 16,335 196 — — — 16,531 Exchange rate Differences on Gold and Foreign Currency 3,693,707 146,056 39,135 615,821 — 4,494,719 Other Operating Income 26,534,318 5,939,643 378,520 4,568,647 (1,584,895 ) 35,836,233 Income from Insurance Business — — 4,250,295 — 3,099,651 7,349,946 Expected credit loss allowance (14,491,902 ) (8,766,660 ) (4,019 ) — — (23,262,581 ) Personnel Expenses (31,173,893 ) (12,430,952 ) (1,614,772 ) (1,224,654 ) — (46,444,271 ) Administrative Expenses (32,585,600 ) (10,899,738 ) (813,493 ) (1,045,232 ) 140,529 (45,203,534 ) Depreciation and Impairment of Assets (10,822,309 ) (3,272,435 ) (363,399 ) (39,339 ) — (14,497,482 ) Other Operating Expenses (40,565,868 ) (12,787,780 ) (13,743 ) (474,002 ) 7,324 (53,834,069 ) Loss on net monetary position (64,248,964 ) (13,006,936 ) (661,091 ) (1,584,935 ) — (79,501,926 ) Operating Income 32,658,990 10,487,086 2,018,168 2,349,262 117,012 47,630,518 Share of profit from Associates and Joint Ventures 19,926 — — — (149,078 ) (129,152 ) Income before Taxes from Continuing Operations 32,678,916 10,487,086 2,018,168 2,349,262 (32,066 ) 47,501,366 Income Tax from Continuing Operations (9,823,581 ) (4,264,030 ) (832,688 ) (1,486,660 ) — (16,406,959 ) Net Income from Continuing Operations 22,855,335 6,223,056 1,185,480 862,602 (32,066 ) 31,094,407 Net Income for the Year 22,855,335 6,223,056 1,185,480 862,602 (32,066 ) 31,094,407 Other Comprehensive Income (Loss) 75,213 (317 ) 12,296 (3,993 ) — 83,199 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 22,930,548 6,222,739 1,197,776 858,609 (32,066 ) 31,177,606 Net Income for the Year Attributable to Non-controlling — — — — — — Bank Naranja X Insurance Other Adjustments Total as of 12.31.20 Net Income from interest 88,800,537 25,544,965 1,097,180 10,333 341,833 115,794,848 Net fee Income 31,667,168 25,036,545 — (9,224 ) (1,638,835 ) 55,055,654 Net Income from Financial Instruments measured at fair value through Profit or Loss 99,600,814 3,002,283 86,037 1,931,818 (1,365 ) 104,619,587 Income from Derecognition of Assets Measured at Amortized Cost (4,723 ) — — — — (4,723 ) Exchange rate Differences on Gold and Foreign Currency 9,093,880 558,967 (41,284 ) 1,025,969 — 10,637,532 Other Operating Income 25,920,591 5,244,696 761,735 3,568,573 (1,801,451 ) 33,694,144 Income from Insurance Business — — 5,110,454 — 3,027,309 8,137,763 Expected credit loss allowanc e (44,822,871 ) (8,076,538 ) 25,186 — — (52,874,223 ) Personnel Expenses (33,342,596 ) (12,196,004 ) (1,837,805 ) (660,922 ) — (48,037,327 ) Administrative Expenses (32,762,463 ) (12,457,273 ) (824,356 ) (1,099,300 ) 182,642 (46,960,750 ) Depreciation and Impairment of Assets (9,232,725 ) (2,819,842 ) (408,143 ) (43,727 ) — (12,504,437 ) Other Operating Expenses (35,991,425 ) (9,764,917 ) (6,577 ) (391,521 ) 21,825 (46,132,615 ) Loss on net monetary position (41,001,355 ) (8,198,158 ) (1,006,921 ) (1,148,014 ) — (51,354,448 ) Operating Income 57,924,832 5,874,724 2,955,506 3,183,985 131,958 70,071,005 Share of profit from Associates and Joint Ventures 46,244 — — — (235,001 ) (188,757 ) Income before Taxes from Continuing Operations 57,971,076 5,874,724 2,955,506 3,183,985 (103,043 ) 69,882,248 Income Tax from Continuing Operations (26,385,399 ) (2,615,329 ) (996,819 ) (1,376,224 ) — (31,373,771 ) Net Income from Continuing Operations 31,585,677 3,259,395 1,958,687 1,807,761 (103,043 ) 38,508,477 Net Income for the Year 31,585,677 3,259,395 1,958,687 1,807,761 (103,043 ) 38,508,477 Other Comprehensive Income (Loss) (312,174 ) 317 26,800 239 — (284,818 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 31,273,503 3,260,734 1,985,487 1,808,000 (618,937 ) 37,708,787 Net Income for the Year Attributable to Non-controlling — (1,022 ) — — 515,894 514,872 Bank Naranja X Insurance Other Adjustments Total as of 12.31.19 Net Income from interest 48,968,694 20,027,327 1,727,691 108,825 740,021 71,572,558 Net fee Income 32,845,065 26,678,156 — 746 (1,814,095 ) 57,709,872 Net Income from Financial Instruments measured at fair value through Profit or Loss 143,624,715 5,290,885 147,162 598,126 — 149,660,888 Income from Derecognition of Assets Measured at Amortized Cost 451,016 — — — — 451,016 Exchange rate Differences on Gold and Foreign Currency 17,054,670 250,412 (5,686 ) 559,190 — 17,858,586 Other Operating Income 35,813,489 7,429,326 917,965 1,748,021 (2,379,132 ) 43,529,669 Income from Insurance Business — — 3,665,408 — 3,606,808 7,272,216 Expected credit loss allowance (33,207,820 ) (12,209,221 ) 135,209 — — (45,281,832 ) Personnel Expenses (36,684,273 ) (11,386,896 ) (1,674,014 ) (495,680 ) — (50,240,863 ) Administrative Expenses (36,397,335 ) (12,449,362 ) (902,506 ) (656,529 ) 263,458 (50,142,274 ) Depreciation and Impairment of Assets (7,579,792 ) (2,352,147 ) (439,888 ) (35,513 ) — (10,407,340 ) Other Operating Expenses (43,102,101 ) (9,627,485 ) (756 ) (238,248 ) 14,011 (52,954,579 ) Loss on net monetary position (44,775,465 ) (9,065,986 ) (1,432,184 ) (1,239,700 ) — (56,513,335 ) Operating Income 77,010,863 2,585,009 2,138,401 349,238 431,071 82,514,582 Share of profit from Associates and Joint Ventures 118,103 — — — (118,103 ) — Income before Taxes from Continuing Operations 77,128,966 2,585,009 2,138,401 349,238 312,968 82,514,582 Income Tax from Continuing Operations (31,338,764 ) (1,242,790 ) (835,974 ) (150,476 ) — (33,568,004 ) Net Income from Continuing Operations 45,790,202 1,342,219 1,302,427 198,762 312,968 48,946,578 Net Income for the Year 45,790,202 1,342,219 1,302,427 198,762 312,968 48,946,578 Other Comprehensive Income (Loss) 849,481 — (22,021 ) — — 827,460 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 46,639,683 1,341,674 1,280,406 198,762 85,428 49,545,953 Net Income for the Year Attributable to Non-controlling — 545 — — 227,540 228,085 Bank Naranja X Insurance Other Adjustments Total as of 12.31.21 ASSETS Cash and Due from Banks 231,726,182 5,463,828 53,530 4,473,968 (4,290,665 ) 237,426,843 Debt Securities at fair value through profit or loss 236,287,343 208,276 36,976 29,408 (625,105 ) 235,936,898 Derivative Financial Instruments 1,585,960 — — — (338,882 ) 1,247,078 Repurchase Transactions 203,165,504 39,953 — — — 203,205,457 Other Financial Assets 17,832,351 2,468,949 434,838 2,635,788 — 23,371,926 Loans and Other Financing 575,585,892 175,549,628 7,403 2,552,902 (9,262,123 ) 744,433,702 Other Debt Securities 92,235,283 3,012 2,244,297 — (125,593 ) 94,356,999 Financial Assets Pledged as Collateral 34,926,900 16,564 — 292,204 — 35,235,668 Current Income Tax Assets — — 62,374 14,007 — 76,381 Investments in Equity Instruments 1,251,928 — — 6 — 1,251,934 Equity Investments in Associates and Joint Ventures 600,775 — — — (431,428 ) 169,347 Property, Plant and Equipment 54,881,411 6,313,146 907,462 94,005 — 62,196,024 Intangible Assets 19,041,320 2,084,058 49,833 6,735,316 (6,679,085 ) 21,231,442 Deferred Income Tax Assets — 3,516,571 388,570 381,254 — 4,286,395 Assets for Insurance Contracts — — 3,217,517 — — 3,217,517 Other Non-financial 6,359,559 2,042,676 98,013 1,898,539 — 10,398,787 Non-current 657 — — — — 657 TOTAL ASSETS 1,475,481,065 197,706,661 7,500,813 19,107,397 (21,752,881 ) 1,678,043,055 LIABILITIES Deposits 1,040,723,530 27,043 — — (4,792,644 ) 1,035,957,929 Liabilities at Fair Value Through Profit or Loss — — — 75,674 — 75,674 Derivative Financial Instruments 712,129 338,882 — — (338,882 ) 712,129 Repurchase Transactions 324,119 — — — — 324,119 Other Financial Liabilities 94,983,619 96,273,604 — 4,504,207 (102,262 ) 195,659,168 Financing Received from the Argentine Central Bank and Other Financial Institutions 8,949,710 23,389,635 — — (8,628,641 ) 23,710,704 Debt Securities 7,346,442 21,376,032 — — (750,698 ) 27,971,776 Current Income Tax Liabilities 5,185,675 3,478,634 214,130 780,379 — 9,658,818 Subordinated Debt Securities 26,275,536 — — — — 26,275,536 Provisions 4,036,523 163,559 155,292 26,225 — 4,381,599 Deferred Income Tax Liabilities 4,793,600 — 255,511 381,483 — 5,430,594 Liabilities for Insurance Contracts — — 3,191,514 — (885 ) 3,190,629 Other Non-financial 30,056,744 7,850,368 952,610 1,393,789 (28,356 ) 40,225,155 TOTAL LIABILITIES 1,223,387,627 152,897,757 4,769,057 7,161,757 (14,642,368 ) 1,373,573,830 Bank Naranja X Insurance Other Adjustments Total as of 12.31.20 ASSETS Cash and Due from Banks 260,085,728 3,303,721 59,791 3,439,777 (2,101,957 ) 264,787,060 Debt Securities at fair value through profit or loss 235,306,384 138,507 — 262,337 (1,114,405 ) 234,592,823 Derivative Financial Instruments 3,267,935 — — — — 3,267,935 Repurchase Transactions 92,067,820 — — — — 92,067,820 Other Financial Assets 10,445,570 1,935,002 1,230,331 1,627,085 (2,504 ) 15,235,484 Loans and Other Financing 663,096,109 133,652,457 714,203 2,209,417 (5,063,927 ) 794,608,259 Other Debt Securities 32,375,095 263,327 2,441,973 — (257,591 ) 34,822,804 Financial Assets Pledged as Collateral 28,135,063 13,775 — 103,576 — 28,252,414 Current Income Tax Assets — 54,704 242,793 — — 297,497 Investments in Equity Instruments 8,618,111 — — 3,198 — 8,621,309 Equity Investments in Associates and Joint Ventures 725,320 — — — (590,768 ) 134,552 Property, Plant and Equipment 57,644,137 7,334,422 976,121 54,234 — 66,008,914 Intangible Assets 19,396,092 2,315,446 110,814 6,696,209 (6,679,084 ) 21,839,477 Deferred Income Tax Assets 8,000,987 5,471,788 266,626 166,248 — 13,905,649 Assets for Insurance Contracts — — 2,846,664 — (826 ) 2,845,838 Other Non-financial 8,728,364 1,094,529 41,316 1,659,310 — 11,523,519 Non-current 44,268 — — — — 44,268 TOTAL ASSETS 1,427,936,983 155,577,678 8,930,632 16,221,391 (15,811,062 ) 1,592,855,622 LIABILITIES — Deposits 1,023,463,093 9 — — (2,576,616 ) 1,020,886,486 Derivative Financial Instruments 86,716 — — — — 86,716 Other Financial Liabilities 61,765,321 83,506,934 — 3,181,178 (1,281,591 ) 147,171,842 Financing Received from the Argentine Central Bank and Other Financial Institutions 15,384,243 8,746,648 — 2 (3,250,474 ) 20,880,419 Debt Securities 11,930,540 15,213,077 — — (1,371,996 ) 25,771,621 Current Income Tax Liabilities 19,668,582 1,795,866 673,483 846,667 — 22,984,598 Subordinated Debt Securities 32,684,216 — — — — 32,684,216 Provisions 5,181,417 218,953 205,296 94,338 — 5,700,004 Deferred Income Tax Liabilities — — — 206,686 — 206,686 Liabilities for Insurance Contracts — — 3,110,906 — (35 ) 3,110,871 Other Non-financial 28,611,554 7,510,035 1,035,550 1,058,004 (60,499 ) 38,154,644 TOTAL LIABILITIES 1,198,775,682 116,991,522 5,025,235 5,386,875 (8,541,211 ) 1,317,638,103 |
Capital Management and Risk Pol
Capital Management and Risk Policies | 12 Months Ended |
Dec. 31, 2021 | |
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. 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 integral management of risks faced by Banco Galicia has been assigned to the Risk Area Management, ensuring its independence from the rest of the business areas by depending directly on the Bank’s General Management. Likewise, in order to have timely information and an agile and efficient structure that allows responding and adapting to the prevailing macro and microeconomic variables, the functions of granting and recovering credits, both for companies and individuals, are in charge of managements directly reporting to the Area, thus seeking greater efficiency in decision-making. Additionally, the control and prevention of the risks of money laundering, terrorist financing, and other illicit activities, are in charge of the Prevention of Money Laundering Management, reporting to the Board of Directors, thus ensuring the Board of Directors is fully knowledgeable of the risks the Bank is exposed to, being in charge of designing and proposing the required policies and procedures for their identification, evaluation, follow-up, control, and mitigation. The Risk Appetite framework has been specified as the risk level that would eventually be assumed in order to meet the business objectives. This specified Risk Appetite framework counts on different levels of risk acceptance, both in individual and consolidated terms. The Risk Appetite monitors, through a series of metrics and associated thresholds, the main risks assumed by the Bank, and divides them into the following dimensions: (i) Capital Risk (or Solvency); (ii) Financial Risk; (iii) Credit Risk; (iv) Operational Risk; (v) Cybersecurity. It should be noted that the last two dimensions also include monitoring the Reputational and Technological Risks. Additionally, the Risks Area Management monitors the risk appetite set up, and conducts prospective analysis of the risk levels, aligning the management to the strategy and the business plan defined by the Board of Directors. It also promotes corporate policies aimed at mitigating verified (or potential) deviations from the accepted risk levels. 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, 2021, and December 31, 2020, 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, 2021, and December 31, 2020, is as follows: 12.31.21 12.31.20 Basic Shareholders’ Equity 257,700,315 162,178,965 (Deductible Items) (35,563,896 ) (32,594,504 ) Equity Tier 1 222,136,419 129,584,461 Complementing shareholders’ Equity 29,006,025 27,477,066 Equity Tier 2 29,006,025 27,477,066 Regulatory Capital (RPC) 251,142,444 157,061,527 The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.21 12.31.20 Credit Risk 63,920,141 42,457,859 Market Risk 1,133,653 1,419,264 Operational Risk 20,190,530 12,192,078 Minimum Capital Requirement 85,244,324 56,069,201 Integration 251,142,444 157,061,527 Excess 165,898,119 100,992,326 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 2021, a unified limit was set for all operations of Ps.6,737,000. 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 composition of Assets and Liabilities in domestic currency and foreign currency exposes the Bank’s financial position to the so-called The Group’s exposure to the foreign exchange risk as of year-end Balances as of 12.31.21 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 250,862 (248,914 ) (1,291 ) 656 Euro 2,943 (623 ) — 2,320 Canadian Dollar 32 (4 ) — 27 Real 39 — — 39 Swiss Franc 89 (32 ) — 57 Others 85 (14 ) — 71 Total 254,049 (249,587 ) (1,291 ) 3,170 Balances as of 12.31.20 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 320,180 (318,396 ) — 1,784 Euro 6,643 (1,211 ) — 5,432 Canadian Dollar 202 (6 ) — 196 Real 51 — — 51 Swiss Franc 78 (45 ) — 33 Others 155 (5 ) — 150 Total 327,309 (319,663 ) — 7,646 Balances as of 12.31.21 Balances as of 12.31.20 Currency Change Income (Loss) Shareholders’ Equity Income (Loss) Shareholders’ Equity US Dollar 10 % 66 722 178 1,962 -10 % (66 ) 590 (178 ) 5,254 Euro 10 % 232 2,552 543 739 -10 % (232 ) 2,088 (543 ) (492 ) Canadian Dollar 10 % 3 30 20 53 -10 % (3 ) 24 (20 ) 130 Real 10 % 4 43 5 7,651 -10 % (4 ) 35 (5 ) (5 ) Swiss Franc 10 % 6 63 3 3 -10 % (6 ) 51 (3 ) (3 ) Others 10 % 7 78 15 15 -10 % (7 ) 64 (15 ) (15 ) 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 (RFN), for which a “base case scenario” is submitted to a 4 2 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 90 From 90 to From 180 to More than Total As of 12.31.21 Total Financial Assets 625,405,963 116,802,086 106,308,391 154,697,504 524,232,048 1,527,445,992 Total Financial Liabilities 818,306,924 96,462,632 38,475,450 24,267,311 343,024,022 1,320,536,340 Net Amount (192,900,961 ) 20,339,454 67,832,940 130,430,193 181,208,026 206,909,652 As of 12.31.20 Total Financial Assets 497,444,834 122,335,699 110,798,069 184,197,811 500,497,440 1,415,273,853 Total Financial Liabilities 793,761,624 100,561,675 26,336,068 13,174,729 308,649,837 1,242,483,933 Net Amount (296,316,790 ) 21,774,024 84,462,001 171,023,082 191,847,603 172,789,920 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, 2021. The percentage change budgeted by the Group for fiscal year 2021 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 bp (3,543,296 ) -1.7 % Increase in Interest Rate 100 3,543,296 1.7 % 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 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, 2021, and December 31, 2020, based on undiscounted cash flows: Less than 1 1 to 6 Months 6 to 12 12 Months to More than 5 Total as of Assets Debt Securities measured at Fair Value through Profit or Loss 235,715,852 289,004 585,835 921,601 — 237,512,292 Derivative Financial Instruments 1,247,078 — — — — 1,247,078 Repurchase Transactions 206,318,139 — — — — 206,318,139 Other Financial Assets 20,422,842 123,048 149,125 3,444,877 — 24,139,892 Loans and Other Financing 268,278,512 279,743,611 180,218,971 116,216,349 37,370,356 881,827,799 Other Debt Securities 97,602,616 304,390 229,445 724,771 — 98,861,222 Financial Assets Pledged as Collateral 35,235,668 — — — — 35,235,668 Investments in Equity Instruments 1,251,934 — — — — 1,251,934 Liabilities Deposits 981,068,287 64,008,739 3,074,261 112,674 22 1,048,263,983 Liabilities at fair value through profit or loss 75,674 — — — — 75,674 Derivative Financial Instruments 712,129 — — — — 712,129 Other Financial Liabilities 130,748,187 60,319,962 177,971 26,415 5,032 191,277,568 Lease liabilities 114,368 570,091 644,172 3,769,889 609,978 5,708,499 Financing Received from the Argentine Central Bank and Other Financial Institutions 5,200,022 4,623,289 15,913,726 3,979,210 — 29,716,247 Debt Securities 1,519,011 15,230,169 9,487,019 6,395,177 — 32,631,376 Subordinated Debt Securities 996,044 — 996,044 33,323,071 — 35,315,159 Less than 1 Month 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 230,532,971 851,483 4,800,940 652,403 — 236,837,797 Derivative Financial Instruments 827,053 — — — — 827,053 Repurchase Transactions 93,249,485 — — — — 93,249,485 Other Financial Assets 11,588,748 152,157 184,402 4,627,615 — 16,552,922 Loans and Other Financing 250,068,562 308,413,869 204,441,783 141,230,251 46,100,820 950,255,285 Other Debt Securities 38,345,187 — — — — 38,345,187 Financial Assets Pledged as Collateral 28,252,414 — — — — 28,252,414 Investments in Equity Instruments 5,654,112 — — — — 5,654,112 Liabilities Deposits 960,889,687 67,935,172 3,870,033 184,718 41 1,032,879,651 Derivative Financial Instruments 86,716 — — — — 86,716 Other Financial Liabilities 140,382,359 36,949 41,420 121,508 — 140,582,236 Lease Liabilities 233,741 1,094,126 1,200,436 5,585,434 2,077,061 10,190,798 Financing Received from the Argentine Central Bank and Other Financial Institutions 3,936,538 4,967,332 9,264,337 5,640,484 — 23,808,691 Debt Securities 1,111,592 9,292,808 12,158,857 9,583,666 — 32,146,923 Subordinated Debt Securities 1,291,846 — 1,291,846 11,410,759 33,013,113 47,007,564 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, 2021, 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 12.31.21 AAA 9,650,279 — 37 39,049,777 — 609,936 49,310,029 AA+ — — 52,845 — — 820,093 872,938 AA 5,617 — — 31,359 — 10,892 47,868 AA- — — — — — 1,623 1,623 A+ — — — — — 8,635 8,635 A1 — — — — — 38,957 38,957 A1+ — — 1,266,148 — — 510,849 1,776,997 A — — — — — 367,434 367,434 A2 — 244,653 — — — 1,314 245,967 A- — — — — — 39,096 39,096 A3 — 630,013 — — — — 630,013 Baa1 — — 94,832 — — — 94,832 BBB- — 641,844 — — — — 641,844 Baa3 — — — — — 34,356 34,356 B1 — 143,271 — — — — 143,271 B — 68,027 — — — — 68,027 BB- — — — — — 1,872 1,872 CCC 25,517 — — — — — 25,517 C — — — — 181,567,431 20,191 181,587,622 Total 9,681,413 1,727,808 1,413,862 39,081,136 181,567,431 2,465,248 235,936,898 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 3,524,914 — — 25,607,172 — 1,061,755 30,193,841 AA+ — — 136,148 — — 447 136,595 AA — — — — — 85,738 85,738 Aa2 — — — — — 48,642 48,642 AA- 71,913 — — — — 1,350,297 1,422,210 A+ — — — — — 1,906 1,906 A1 — — — — — 272,726 272,726 A1+ — — — — — 1,239,099 1,239,099 A — — — — — 32,424 32,424 A2 — — — — — 163 163 A- — — — — — 61,290 61,290 A3 — 303,042 — — — — 303,042 Baa1 — — 1,509 — — 44,114 45,623 Baa3 — — — — — 20,065 20,065 B — 814,136 — — — — 814,136 CCC 6,193,784 — — — — — 6,193,784 C — — — — 193,695,730 25,809 193,721,539 Total 9,790,611 1,117,178 137,657 25,607,172 193,695,730 4,244,475 234,592,823 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 defaulted 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 12-month • 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 X, 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: • For retail and retail like Portfolios between 31 and 90 days past due. For wholesale it considers credit ratings for which the risk of default has increased significantly (B). • Probability of Default (“PD”) or Score with impairment risk. • 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). Furthermore, this stage also includes refinanced transactions originated more than 90 days past due or with another transaction in force within the last 24 months. 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. The credit analysis for wholesale loans is not the same as for retail loans, Grupo Galicia’s definition of default for wholesale portfolios is based on a credit analysis of the individual borrower. 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 potential time of default. • Loss given Default (“LGD”): this represents Grupo Galicia’s expectation of effective loss from the total exposure at default. Its value changes according to the counterparty, seniority of the claim and availability of collateral or other credit support. LGD is expressed as a percentage loss per Peso of exposure at the time of default and is calculated over the term of the relevant obligation. 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, Grupo Galicia prepared three different scenarios with different probabilities: a base scenario with 70 % probability of occurrence, a pessimistic scenario with 15 % probability of occurrence and an optimistic 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 toake time value of money into account, Grupo assumes expected losses will take place according to the PD behavior. The ECL is determined by calculating 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 estimation of it. Key macroeconomic variables used in the scenarios described below are shown in the table: Macroeconomic Variable Projections QI - 2022 (*) QII - 2022 (*) QIII - 2022 (*) QIV - 2022 (*) GDP Base 1.8 % 2.3 % 0.5 % 1.5 % Optimistic 7.0 % 10.7 % 8.0 % 9.6 % Pessimistic 1.7 % -1.0 % -4.1 % -3.6 % Unemployment Rate Base 0.3 % 7.8 % 25.5 % 9.4 % Optimistic -10.5 % -3.7 % 12.2 % -2.5 % Pessimistic 4.8 % 19.1 % 75.6 % 80.9 % Real Salary Base -5.4 % -5.9 % -5.2 % -4.1 % Optimistic -4.9 % -5.1 % -4.6 % -0.6 % Pessimistic 0.4 % -7.7 % -11.8 % -9.0 % Badlar rate Base 17.4 % 8.4 % -0.5 % 0.0 % Optimistic 17.4 % -0.3 % -6.3 % -11.8 % Pessimistic 61.4 % 58.3 % 66.9 % 76.5 % Consumer Price Index (CPI) Base 54.9 % 59.6 % 60.1 % 59.0 % Optimistic 53.2 % 50.5 % 48.0 % 42.8 % Pessimistic 53.2 % 72.6 % 83.2 % 86.8 % (*) 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 47,598,980 48,122,889 Retail, Retail like and Wholesale ECL 37,966,376 38,490,285 Naranja ECL 9,632,604 9,632,604 Scenario 2 (change in forecast PIB, inflation, nominal Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP 0 % 0 % 0 % Unemployment Rate 3 % 1 % 4 % Real Salary -4 % -2 % -5 % Badlar 25 % 10 % 60 % CPI 5 % 1 % 7 % Grupo Financiero Galicia ECL 48,411,267 Retail, Retail like and Wholesale RCL 38,778,663 Naranja ECL 9,632,604 Additional allowance outside the model (“COVID Overlay”) Since March 2020, the Argentine Central Bank has implemented a series of measures aiming to reduce the economic consequences caused by COVID-19. of installments in arrears are some examples of these measures. Credits cards were excluded from this benefit. Considering the economic context that Argentina is going through, the uncertain behavior of the delinquent loans, and the measures adopted by the Argentine Central Bank, the Entity’s Management recognized an additional Allowance for Loan Losses outside the model as of December 31, 2020. That allowance was calculated using the expected credit loss model on the delinquent loans in arrears and reflected the potential loss that could result from the macroeconomic context once the measures implemented by the Argentine Central Bank were lifted. The calculation was performed outside the model, generating additional forecasts with the objective of mitigating the lack of delinquency observed as a result of the regulations in force. The Group calculated the impact of the additional allowance by estimating the expected loss from customers’ loans with deferred installments, based on the new probabilities of default, and adjusting the variables in each affected segment. This estimate included an adjustment over the credits’ lifetime. From March 31, 2021, onwards, once the payment deferrals established by the Argentine Central Bank were over, the additional allowance set up outside the model as of December 31, 2020, was used during the current fiscal year, as the actual delinquent loans were identified, after their due dates had been deferred for a year (March 2020 – March 2021). 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 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, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 164,463,861 55,177,137 3,016,889 222,657,887 246,123,597 1-30 2,575,652 2,891,093 622,662 6,089,407 6,116,789 31-60 — 1,772,673 457,533 2,230,206 1,579,343 61-90 — 900,444 653,838 1,554,282 990,348 Default — — 14,109,155 14,109,155 8,387,786 Gross Carrying amount 167,039,513 60,741,347 18,860,077 246,640,937 263,197,863 Loss allowance (5,845,144 ) (10,017,080 ) (15,360,846 ) (31,223,070 ) (35,435,411 ) Net Carrying amount 161,194,369 50,724,267 3,499,231 215,417,867 227,762,452 Retail like Portfolio December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 153,539,137 16,028,249 1,080,971 170,648,357 177,992,701 1-30 1,105,602 527,137 206,494 1,839,233 2,609,761 31-60 — 303,433 84,077 387,510 326,718 61-90 — 140,381 124,317 264,698 91,932 Default — — 2,227,308 2,227,308 1,792,207 Gross Carrying amount 154,644,739 16,999,200 3,723,167 175,367,106 182,813,319 Loss allowance (257,780 ) (1,361,307 ) (2,609,419 ) (4,228,506 ) (6,825,303 ) Net Carrying amount 154,386,959 15,637,893 1,113,748 171,138,600 175,988,016 Wholesale Portfolio December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 496,694,594 17,137,832 — 513,832,426 417,049,373 B1 — 214,556 — 214,556 1,512,813 Default — — 730,084 730,084 1,201,703 Gross Carrying amount 496,694,594 17,352,388 730,084 514,777,066 419,763,889 Loss allowance (1,465,190 ) (319,928 ) (729,682 ) (2,514,800 ) (4,814,466 ) Net Carrying amount 495,229,404 17,032,460 402 512,262,266 414,949,423 Naranja X December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 167,268,847 1,799,598 286,947 169,355,392 131,704,894 1-30 7,552,511 443,058 83,720 8,079,289 5,304,089 31-60 — 2,375,093 50,284 2,425,377 1,359,887 61-90 — 1,226,601 42,995 1,269,596 609,131 Default — — 3,966,855 3,966,855 2,980,850 Gross Carrying amount 174,821,358 5,844,350 4,430,801 185,096,509 141,958,851 Loss allowance (5,677,757 ) (1,257,400 ) (2,697,447 ) (9,632,604 ) (9,275,787 ) Net Carrying amount 169,143,601 4,586,950 1,733,354 175,463,905 132,683,064 Retail Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 174,398,931 71,724,666 — 246,123,597 222,499,714 1-30 2,080,249 1,757,767 2,278,773 6,116,789 |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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. Likewise, several claims 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.3,646,382 and Ps.4,403,712, respectively, have been submitted to the Federal Administration of Public Revenue (Administración Federal de Ingresos Públicos, AFIP). These claims are based on Argentine jurisprudence that establishes the unconstitutionality of the rules disabling the application of the tax inflation adjustment, resulting in confiscatory situations. Considering the delay in the resolution by the Federal Administration of Public Revenue, the corresponding judicial claims were filed. Identical claims were filed by other Group subsidiaries before the Federal Administration of Public Revenue: Tarjetas Cuyanas S.A., (Tarjeta Naranja S.A. predecessor company), for 2014 and 2016 periods, for an amount of Ps.145,478, nominal value; Tarjeta Naranja S.A., for 2014 and 2016 periods, for a total amount of Ps.580,164, nominal value; and for 2015, 2017, and 2018 periods, for an amount of Ps.149,763, Ps.326,498, and Ps.973,843, nominal value, respectively. Considering the delay in the resolution by the Federal Administration of Public Revenue, the corresponding judicial claims were filed. On May 26, 2020, Tarjeta Naranja S.A. filed before the AFIP a claim for the repetition of the Income Tax corresponding to 2019 period for Ps.1,364,949 in nominal value. At the closing of these Financial Statements, the Group does not record contingent assets derived from the aforementioned presentations. 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: 12.31.21 12.31.20 Other Contingencies 4,305,489 5,597,804 For Commercial Lawsuits/Legal matters 2,734,238 4,163,612 For Labor Lawsuits 379,442 405,564 For Claims and Credit Cards 200 1,656 For Guarantees Granted 1,142 1,724 For Other Contingencies 927,621 691,933 For Termination Benefits 262,846 333,315 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 76,110 94,191 Administrative, Disciplinary and Criminal Penalties — 8,009 Total 4,381,599 5,700,004 |
Offsetting of Financial Assets
Offsetting of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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, 2021 and 2020 are as follows: Offsetting effects on Statement of Related amounts not 12.31.21 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 106,830 — 106,830 (99,922 ) 6,908 Total 106,830 — 106,830 (99,922 ) 6,908 Financial Liabilities Derivate Instruments 127,920 — 127,920 (99,922 ) 27,998 Total 127,920 — 127,920 (99,922 ) 27,998 Offsetting effects on Statement of Related amounts not 12.31.20 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 41,767 — 41,767 (37,865 ) 3,902 Total 41,767 — 41,767 (37,865 ) 3,902 Financial Liabilities Derivate Instruments 47,536 — 47,536 (37,865 ) 9,671 Total 47,536 — 47,536 (37,865 ) 9,671 |
Off-balance Sheet Items
Off-balance Sheet Items | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Off-balance Sheet Items | NOTE 48. OFF-BALANCE In the normal course of business and in order to meet customers’ financing needs, off-balance 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. 12.31.21 12.31.20 Agreed Credits 54,380,064 50,012,860 Documentary Export and Import Credits 5,946,482 3,747,888 Guarantees Granted 11,539,426 19,107,614 Liabilities for Foreign Trade Operations 872,522 1,383,759 The fees and commissions related to the items mentioned above as of the indicated dates were as follows: 12.31.21 12.31.20 For Agreed Credits 87,366 29,332 For Documentary Export and Import Credits 79,211 157,877 For Guarantees Granted 33,839 108,784 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: 12.31.21 12.31.20 Other Preferred Guarantees Received 16,764 99,452 Other Guarantees Received 533,240 430,557 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. 12.31.21 12.31.20 Values to be Debited 9,333,650 10,567,975 Values to be Credited 10,577,694 15,877,301 Values for Collection 143,871,686 128,598,377 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: 12.31.21 12.31.20 Trust Funds 9,955,990 13,253,439 Securities Held in Escrow 1,803,674,978 1,214,072,600 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, 2021 | |
Text block [abstract] | |
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, 2021 | |
Text block [abstract] | |
Non-controlling Interest | NOTE 50. NON-CONTROLLING The following tables provide information about each subsidiary that has a non-controlling The non-controlling Company Place of Business 12.31.21 12.31.20 Galicia Broker Asesores de Seguros S.A. CABA -Argentina 0.01 % 0.01 % Changes in the Group’s non-controlling Company Balance 12.31.20 Purchases / Cash Dividends Profit for the Balance 12.31.21 Galicia Broker Asesores de Seguros S.A. 5 — — — 5 Total 5 — — — 5 Company Balance as 12.31.19 Purchases / Cash Dividends Profit for the Balance 12.31.20 Cobranzas Regionales S.A. (40,205 ) 40,205 — — — Galicia Broker Asesores de Seguros S.A. 6 — — (1 ) 5 Galicia Retiro Compañía de Seguros S.A. 6 — — (6 ) — Galicia Seguros S.A.U. 8 — — (8 ) — Naranja Digital Compañía Financiera S.A.U. (30,976 ) 30,976 — — — Ondara S.A. 17,180 (17,180 ) — — — Tarjeta Naranja S.A. 5,192,243 (5,192,243 ) — — — Tarjetas Regionales S.A. 806,671 (1,104,438 ) (217,120 ) 514,887 — Total 5,944,933 (6,242,680 ) (217,120 ) 514,872 5 Company Balance as 12.31.18 Purchases / Cash Dividends Profit for the Balance as 12.31.19 Cobranzas Regionales S.A. 36,719 — — (76,924 ) (40,205 ) Galicia Broker Asesores de Seguros S.A. 6 — — — 6 Galicia Retiro Compañía de Seguros S.A. 6 — — — 6 Galicia Seguros S.A.U. 8 — — — 8 Naranja Digital Compañía Financiera S.A.U. — — — (30,976 ) (30,976 ) Ondara S.A. 19,110 — — (1,930 ) 17,180 Tarjeta Naranja S.A. 4,711,768 — — 480,475 5,192,243 Tarjetas Regionales S.A. 677,560 271,671 — (142,560 ) 806,671 Total 5,445,177 271,671 — 228,085 5,944,933 Summary information on subsidiaries is detailed in Note 15. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Related Party Transactions | NOTE 51. RELATED PARTY TRANSACTIONS Human and legal persons who directly or indirectly exert control over the Entity, or are controlled by it, are considered related parties; they include the Subsidiaries, Associates and Affiliates; the members of the Board of Directors, Syndics and personnel in charge of Senior Management; human persons who hold similar positions in financial institutions or complementary services companies; companies or sole proprietorships over which key personnel may exert significant influence or control, and spouses, partners and relatives up to the second degree of consanguinity or first degree of affinity of all human persons directly or indirectly linked to the Group. The Group controls another entity when it has power over the financial and operational decisions of other entities, and in turn, obtains benefits from it. On the other hand, the Group considers that it has joint control when there is an agreement between the parties on the control of a common economic activity. Finally, those cases where the Group exerts significant influence means the capacity to participate in the decisions of the financial policy and the company’s operations. Shareholders with an interest equal to or greater than 20% of the Group’s total votes or its subsidiaries are considered to exert a significant influence. In determining said situations, not only the legal aspects are observed but also the nature and substance of the relationship. Additionally, the key personnel of the Group’s Management (members of the Board of Directors and Managers) and the entities over which the key personnel can exert significant influence or control are considered 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 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, 2021 and December 31, 2020 amounts to Ps.1,609,488 and Ps.1,973,926 respectively. 51.3. Key Personnel’s Structure Key personnel’s structure as of the indicated dates is as follows: 12.31.21 12.31.20 Regular Directors 80 79 General Manager 1 1 Area and department Managers 60 55 Total 141 135 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. 12.31.21 12.31.20 Total Amount of Credit Assistance 4,409,317 3,006,160 Number of Addressees (quantities) 280 269 - Natural Persons 221 208 - Legal Entities 59 61 Average Amount of Credit Assistance 15,748 11,176 Maximum Assistance 1,662,740 768,210 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 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: 12.31.21 12.31.20 Assets Cash and Due from Banks 4,290,665 2,101,957 Debt Securities at Fair Value through Profit or Loss 625,105 1,114,405 Other Financial Assets — 2,504 Loans and Other Financing 9,262,123 5,063,927 Other Debt Securities 125,593 257,591 Assets for Insurance Contracts — 826 Total Assets 14,303,486 8,541,210 Liabilities Deposits 4,792,644 2,576,616 Other Financial Liabilities 102,262 1,281,591 Financing Received from the Argentine Central Bank and other Financial Institutions 8,628,641 3,250,474 Debt Securities Issued 750,698 1,371,996 Liabilities for Insurance Contracts 885 35 Other Non-financial 28,356 60,498 Total Liabilities 14,303,486 8,541,210 12.31.21 12.31.20 12.31.19 Income (Loss) Net Income (Loss) from Interest 565,684 341,833 740,021 Net Fee Income (Expense) (1,772,399 ) (1,638,835 ) (1,814,095 ) Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (338,882 ) (1,365 ) — Other Operating Income (Expense) (1,584,895 ) (1,801,451 ) (2,379,132 ) Income from Insurance Business 3,099,651 3,027,310 3,606,808 Administrative Expenses 140,529 182,642 263,458 Other Operating Expenses 7,324 21,825 14,011 Total Income 117,012 131,959 431,071 |
Additional Information Required
Additional Information Required by the Argentine Central Bank | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 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, 2021, and 2020, 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 12.31.21 12.31.20 For transactions in ROFEX, MAE and BYMA 11,203,763 5,894,832 For appraisals from repo transactions 35,948 — For debit / credit cards transactions 4,613,003 4,558,602 For attachments 9,410 14,204 Liquid offsetting entry required to operate as CNV agent 86,400 96,633 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada 1,100 1,660 Guarantees for the Regional Economies Competitiveness Program 129,805 278,856 For other transactions (includes guarantees linked to rental contracts) 24,150 29,889 For forward purchases of repurchase transactions 323,534 — 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: 12.31.21 12.31.20 Escrow Accounts 18,509,197 17,274,591 c) Deposits in favor of the Argentine Central Bank 12.31.21 12.31.20 Unavailable deposits due to exchange transactions 533 805 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferable non-endorsable 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. 12.31.21 12.31.20 Contributions to the Fund 990,000 1,494,322 INVIU S.A.U. 12.31.21 12.31.20 Liquid offsetting entry required to operate as CNV agents 33,472 27,877 Guarantees linked to surety bonds 4,530 11,195 Tarjeta Naranja S.A. 12.31.21 12.31.20 Attachments arising from judicial cases 99,254 1,469 Guarantees linked to rental contracts 8,646 10,681 Galicia Asset Management S.A.U. 12.31.21 12.31.20 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV (*) 52,591 20,985 (*) As of December 31, 2021, it corresponds to 5,500,000 shares of Fima Capital Plus “C” Mutual Fund. Galicia Securities S.A.U. 12.31.21 12.31.20 For transactions in the market 220,009 72,475 Liquid offsetting entry required to operate as CNV agents 18,506 17,011 Guarantees linked to surety bonds 20,217 1,704 The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.21 12.31.20 Total Restricted Assets 36,384,068 29,807,791 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 Funds Maturity (*) 04.17.12 Exxon Mobil 21,535 04.19.23 09.12.14 Coop. de Trab. Portuarios 7,013 09.12.22 03.16.21 Fondo Fiduciario Aceitero 9,220 01.31.22 Total 37,768 (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 180,029 12.31.22 05.14.09 GAS II 9,715,280 12.31.22 06.08.11 MILA III 19,730 12.31.22 01.09.11 MILA IV 3,183 12.31.22 Total 9,918,222 (*) Estimated date since maturity date shall occur at the time of the distribution of all of trust assets. 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, 2021, for the Escrow Agent for Collective Investment Products in the Financial Trustors’ Registry, the required Shareholders’ Equity amounts to Ps.92,635, and the minimum required offsetting entry is Ps.46,317. For AlyC and AN—INTEGRAL, said requirement amounts to Ps.45,864, with the minimum offsetting entry required of Ps.22,932. The Entity integrated these requirements with Argentine Republic Bills, discount on maturity on 02/18/2022 valuated at amortized cost in the sum of Ps.86,400, which are held in escrow in Caja de Valores (Principal 100100). Galicia Asset Management S.A.U. 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.102,386 and the minimum offsetting entry amounts to Ps.51,193. The Company’s Shareholders’ Equity as of December 31, 2021, exceeds the minimum required by the aforementioned Resolution. Galicia Asset Management S.A.U. integrated said requirement with 5,500,000 shares of Fondo Fima Premium Class “C”, equivalent to Ps.52,591. Galicia Securities S.A.U. Within the framework of CNV General Resolution No. 622/13, the Company has been duly registered with said agency in the following categories: “Settlement and Offsetting Agent (ALyC and AN Own Portfolio)” and “Comprehensive Mutual Funds Placement and Distribution Agent.” In accordance with the requirements set forth, for an ALyC and AN Own Portfolio the Shareholders’ Equity must be equivalent to 470,350 Units of Purchasing Value (Unidades de Valor Adquisitivo, UVA). As of December 31, 2021, said requirement amounted to Ps.45,864, and the minimum offsetting entry required was Ps.22,932. For Comprehensive Mutual Funds Placement and Distribution Agents, said requirement amounts to Ps.2,500, and the minimum offsetting entry required is Ps.1,250. As of December 31, 2021, the Company’s Shareholders’ Equity amounted to Ps.670,541 and the offsetting entry would be comprised of government securities amounting to Ps.18,506 million and a bank guarantee of Ps.6,170 million. INVIU S.A.U. In accordance with the requirements set forth in General Resolution No. 622/13, for an ALyC and AN Integral the Shareholders’ Equity must be equivalent to 470,350 Units of Purchasing Value (UVA), with said requirement amounting to Ps.45,864 as of December 31, 2021, and a minimum offsetting entry required of Ps.22,932. For Comprehensive Mutual Funds Placement and Distribution Agents, said requirement amounts to Ps.2,500, and the minimum offsetting entry required is Ps.1,250. As of December 31, 2021, the Company’s Shareholders’ Equity amounted to Ps.500,255 and the offsetting entry would be integrated with a demand account with an amount of Ps.24,605. 52.4.2. Custodial Agent of Collective Investment Products Corresponding to Mutual Funds Likewise, in compliance with Art. 7 of Chapter II, Title V of said resolution, Banco Galicia in its capacity as Escrow Agent for Collective Investment Products of Mutual Funds (depositary company): “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 Fija Internacional,” and “Fima Acciones Latinoamericanas USD”, it is hereby stated that the total quantity held in escrow as of December 31, 2021 is 28,342,213,607 shares, their cash value being Ps.344,574,288, which is reflected in the account “Depositors of Securities Held in Escrow.” As of December 31, 2020, securities held in escrow amounted to the quantity of 22,081,526,592 shares and their cash value was Ps.290,434,542. The balances of the Mutual Funds as of the indicated dates are detailed as follows: Mutual Fund 12.31.21 12.31.20 FIMA Acciones 1,265,644 890,944 FIMA P.B. Acciones 1,054,541 955,515 FIMA Renta en pesos 10,569,935 1,657,791 FIMA Ahorro pesos 17,890,833 10,946,320 FIMA Renta Plus 8,519,259 1,116,575 FIMA Premium 257,119,600 224,439,590 FIMA Ahorro Plus 28,931,495 19,179,449 FIMA Capital Plus 13,777,224 25,133,197 FIMA Abierto PyMES 1,026,906 1,144,949 FIMA Mix I 3,571,848 3,090,322 FIMA Renta Fija Internacional 779,203 1,770,204 FIMA Acciones Latinoamericanas Dólares (*) 67,799 109,686 Total 344,574,287 290,434,542 (*) 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 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), th 52.5. COMPLIANCE WITH MINIMUM CASH REQUIREMENTS: As of December 31, 2021, the balances recorded as computable items are as follows: Currency Item Ps. USD Euros (*) Checking Accounts held in Argentine Central Bank 12,000,000 1,754,449 29 Escrow Accounts held in Argentine Central Bank 18,054,014 4,430 — National Treasury Bonds in Argentine Pesos computable for minimum cash 29,787,727 — — Liquidity Bills computable for minimum cash 75,841,941 — — Total for integration Minimum Cash 135,683,682 1,758,879 29 (*) 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, 2021: Summary Proceedings No. 1544. UIF Proceedings -Docket 867/13 non-compliance non-compliance Summary Proceeding No. 1570. p 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, year-end, 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. From January 2016, the Argentine Central Bank established that a capital conservation margin must be maintained in addition to the minimum capital requirement, equivalent to 3.5% of risk-weighted assets. Said margin must exclusively be integrated with level I, net of items deductibles. Income distribution will be limited when the level and composition of the institution’s Regulatory Capital puts said distribution within the range of the capital conservation margin. The Argentine Central Bank provided that income distribution must be performed with its prior 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” 7312 where suspension of income distribution is set forth until December 31, 2021. The Argentine Central Bank established that, from 01/01/2022 until 12/31/2022, the financial institutions may distribute income for up to 20% of the accumulated income, with prior authorization by said Institution. In turn, said distribution must be in 12 equal, monthly and consecutive installments. 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. 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 Group has presented its local financial statements under these rules on February 15, 2022. Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.21 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 102,456,581 Legal reserve 1,077,884 Distributable reserves 155,265,604 Non distributable reserves (89,247 ) Profit for the year 31,778,769 Total Shareholder’s equity under the rules of the Argentine Central Bank 309,245,470 The Board of Directors proposes that the profit for fiscal year, which as of December 31, 2021 amounts to Ps.31,778,769, be allocated to: (i) 5% to the constitution of the Legal Reserve; (ii) the payment of a cash dividend in an amount such that, adjusted for inflation, results in the sum of Ps.11,000,000; (iii) the constitution of a Special Discretionary Reserve for eventual dividend distribution in an amount such that, adjusted for inflation, results in the sum of Ps.8,000,000; and (iv) the remaining balance to the constitution of a Discretionary Reserve to develop new businesses and to support subsidiaries. 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). Likewise, controls are carried out on the application of corporate governance policies defined by regulations in force, through the Executive Committee, the Nomination and Compensation Committee, the Audit Committee, the Disclosure Committee, and the Ethics, Conduct and Integrity Committee. The Committees periodically reports to the Board of Directors, who becomes aware of the decisions of each Committee, and the relevant matters are recorded in the Minutes of their 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. Nominations and Compensation Committee The objective behind the creation of this Committee is to facilitate the analysis and monitoring of several issues based on good corporate governance practices; it is composed of five directors, two of them independent. Its main duty is to support the Company’s Board of Directors in preparing the candidates appointment proposal to occupy positions on said Board of Directors. 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. Ethics, Conduct and Integrity Committee The objective behind the Ethics, Conduct and Integrity Committee is to promote compliance with standards, principles of good conduct, and the Code of Ethics. 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 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 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 • 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 compliance risk, 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 Technology Division • People Division • Risk Division • Planning 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 management and analyze whether the responsibilities assigned are effectively fulfilled. • Monitor the managers from different divisions, in line with the policies and procedures set by the Board of Directors and establish an effective internal control system. Basic Holding Structure The Bank’s majority shareholder is Grupo Financiero Galicia S.A., which has full control of its shares and votes. In turn, the Bank holds equity investments in supplementary companies as shareholders of the parent, as well as minority interests in companies whose controlling company is its own shareholders of the parent. From a business point of view, this structure allows the Bank to take advantage of significant synergies that guarantee the loyalty of its customers and additional businesses. All business relationships with these companies, whether permanent or occasional in nature, are fostered under the normal and usual market conditions and this is true when the Bank holds either a majority or minority interest. Business Conduct Policy and/or Code of Ethics The Bank has a formally approved Code of Ethics that guides its policies and activities. It considers business objectivity and conflict of interest related aspects, and how the employee should act upon identifying a breach of the Code of Ethics, with the involvement of the Conduct Committee. Information Related to Personnel Economic Incentive Practices The Human Resources and Governance Committee, composed of two (2) Directors, the General Manager and the Organizational Development and Human Resources Division Manager, is in charge of establishing the compensation policy for Banco Galicia’s personnel. It is the policy of Banco Galicia to manage the full compensation of its personnel based on the principles of fairness, meritocracy, and justice, within the framework of the legal regulations in force. The aim of this policy is to provide an objective and fair basis, through the design and implementation of tools for the management of the fixed and variable compensation paid to each employee, based on the scope and complexity of each position’s responsibilities, individual performance with regard to compliance thereof, contribution to the Bank’s results and conformity to market values, with the purpose of: • Attracting and creating loyalty with regard to quality personnel suitable for the achievement of the business strategy and goals. • Being an individual motivation means. • Easing the decentralized management of compensation administration. • Allowing the effective budget control of personnel costs. • Guaranteein |
Economic Context Where the Grou
Economic Context Where the Group's Operates | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Economic Context Where the Group's Operates | NOTE 53. ECONOMIC CONTEXT WHERE THE GROUP OPERATES The Group operates in a complex economic context, both in the national and international spheres. In recent months, the behavior of the international markets has been affected by the progress of the Omicron variant of the Coronavirus, the persistence of significant inflationary pressures, certain disruptive decisions in China, and the Russian invasion of Ukraine, among other facts. Consequently, the global economic recovery is under way, but at a slower pace than predicted some months ago. The new international scenario seems to be converging towards perspectives of more moderate economic growth, with financial conditions becoming tighter, in addition to other inflationary pressures due to the delay in production chains and the rise in the prices of some commodities. In line with the above, the United States Federal Reserve has begun to reduce the liquidity injected into the markets (a process known as tapering) and to increase the reference interest rate. According to the Monetary Policy Committee, the rate is expected to be raised a total of seven times during 2022. As for Argentina, after the 9.9% fall in GDP in 2020, the economy managed to recover the pre-pandemic The Government and the IMF reached an Agreement after several months of negotiation. The Extended Fund Facility will provide the necessary funds in order to honor the 2018 Stand-By Agreement’s principal payments. The Agreement contains a series of quantitative performance criteria and indicative targets related to fiscal deficit, Central Bank’s assistance and Net International Reserves, among other variables. The Agreement will imply quarterly reviews by the Monetary Fund for two and a half years. For 2022, the fiscal deficit’s floor was set at Ps. 1,758.6 billion; implicitly, 2.5% of GDP. This entails a reduction when compared to the primary deficit of 3.5% of GDP accumulated in 2021 (result that excludes revenue from the Solidarity Contribution, and from the Special Drawing Rights transferred by the International Monetary Fund). During the first two months of 2022, tax resources grew 54.2% in year-on-year terms, whereas primary expenses rose 63.2% when compared to the same period last year. Therefore, the primary deficit of the national public sector amounted to Ps. 92,982 million. In coming years, it is expected that the fiscal deficit will be gradually reduced until reaching equilibrium in 2025. As a result of 2021’s deficit, the Argentine Central Bank assisted the Treasury for an equivalent of 3.7% of the GDP, of which 2.5% of the GDP was concentrated in the fourth quarter. Regarding 2022, the Central Bank’s assistance has been significantly moderated, partly due to the seasonality of public spending, which concentrates in the last quarter of each year, and partly as a consequence of the Extended Fund Facility Agreement reached with the IMF that limits money issuance to cover the primary deficit. In 2022, the ceiling on Central Bank financing of the Federal Government will be Ps. 705.2 billion (1.0% of GDP). On the foreign exchange front, the Extended Fund Facility established that Net International Reserves would increase USD 5.8 billion throughout 2022, from a starting point of USD 2.325 billion. During the first quarter of the year, the Central Bank sold USD 48 million to the private sector and sold USD 1.221 million to the public sector (in order to honor principal payments). Despite these movements, the Central Bank managed to accumulate a total of USD 3.475 million thanks to the IMF’s transfer of USD 6.752 million (net of principal payments to the Fund). The official exchange rate, defined daily by the Argentine Central Bank through Communication “A” 3500, further accelerated its crawling peg during the first months of the year, continuing with the acceleration that took place in the last months of 2021. The current variation rate stands at an annualized 47%, doubling the beginning of the year’s rate. During the first quarter, the exchange rate devalued 7.4% (from ARS/USD 102.75 to ARS/USD 110.98). As to the pandemic, since its outbreak in March 2020, the measures taken by the National Government to restrain 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 Faced with this context, the Argentine Central Bank additionally established a number of measures aiming at minimizing the economic impact of the pandemic. The following measures stand out: - suspension of commissions collection for the use of ATMs until March 31, 2021; - maximum rates for financing credit card unpaid balances; - deferral of maturities for credit unpaid balances until March 31, 2021; - granting of zero rate financing to self-employed and autonomous workers during 2021; - a Financing Line for the MSME productive investment; - granting of financing to companies to pay salaries; - minimum rates established for Time Deposits; - flexibilization of parameters for bank debtors’ classification until May 31, 2021, and - exchange market controls. However , significant negative consequences affected either the Group’s business or the income from their operations on account of the above. The Group also maintains high levels of liquidity and solvency that would allow it to face the contingencies arising from the context. The Group’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. These consolidated financial statements must be read in the light of these circumstances. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Subsequent Events | NOTE 54. SUBSEQUENT EVENTS Dividends Banco Galicia On March 16, 2022, Banco Galicia held an ordinary shareholders’ meeting, at which shareholders approved to partially use the “Optional Reserve” for the subsequent distribution of cash dividends up to Ps.19,350 million, payable in 12 equal, monthly and consecutive installments, subject to the prior authorization of the BCRA. On April 7, 2022, the BCRA authorized the payment of dividends in the amount of Ps. Naranja X On March 31, 2022, Tarjetas Regionales held an ordinary shareholders’ meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.1,800 million. On April 19, 2022, Naranja held an ordinary and extraordinary shareholders’ meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.4,000 million. Sudamericana Holding On January 18, 2022, and March 29, 2022, Sudamericana Holding held an extraordinaries shareholders’ meetings, at which shareholders approved the payment of a cash dividend in the amount of Ps.295 million and Ps.376 million, respectively. Galicia Asset Management On March 29, 2022, Galicia Asset Management held an ordinary shareholders’ meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.1,547 million. Galicia Securities On March 30, 2022, Galicia Securities held an ordinary shareholders’ meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.111 million. Galicia Warrants On March 29, 2022, Galicia Warrants held an ordinary shareholders’ meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.112 million. Irrevocable Contributions After the closing of the fiscal year, Banco Galicia has made an irrevocable contribution to Play Digital S.A., on account of future share subscriptions, for the amount of Ps.170,443. In January 2022, Tarjetas Regionales S.A. made contributions to its controlled subsidiaries, Naranja Digital Compañía Financiera S.A.U. and Cobranzas Regionales S.A., amounting to Ps.100,000 and Ps.500,000, respectively. Grupo Financiero Galicia has made contributions to its controlled company IGAM LLC in the total amount of Ps.700,000 since the closing of the fiscal year 2021. Debt Securities On January 31, 2022, Tarjeta Naranja S.A. issued Class LI Debt Security for Ps.4,050,000. Said issuance included 2 Series with the following characteristics: i) Series I, for Ps.2,715,058, maturity date 12 months from the issuance date. Interest will be accrued at Badlar rate plus a 3.99% margin, to be paid quarterly. ii) Series II, for Ps.3,284,942, with maturity date 24 months from the issuance date, and interest accrued at Badlar rate plus a 6.0% margin to be paid quarterly. On February 15, 2022, Banco Galicia issued Class XI Debt Securities for Ps.4,487,222 with maturity date 6 months from the issuance. Interest will be accrued at Badlar rate plus a 1.49% margin, to be paid at the due date. On March 22, 2022, Tarjeta Naranja S.A. issued Class LII Debt Securities for USD 7,500 with maturity date 2 years from the issuance. Interest will be accrued at 5.00% fixed rate, to be paid quarterly. In addition, on April 5, this company issued Class LII Debt Securities in two different series. The Serie I for Ps.4,532,644 with a maturity of 12 months from the issuance and the Serie II for Ps.4,192,612 with a maturity date 24 months. The interests will be accrued at Badlar rate plus 3.75% and 5.25%, respectively, to be paid quarterly. Sale of remaining ownership in Prisma Medios de Pago S.A. The details of this transaction have been disclosed in Note 14. |
Accounting Policies and Basis_2
Accounting Policies and Basis for Preparation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
BASIS FOR PREPARATION | 1.1. BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with 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 Communication “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 February 15, 2022. Shareholders’ equity under the rules of the Argentine Central Bank is presented in Note 52.8. Management believes 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, non-monetary Non-monetary non-monetary 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%. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy |
New Accounting Standards\Changes in Accounting Policies | (c) New Accounting Standards The Group has applied the following standards for the first time as of January 1, 2021: i. Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 y IFRS 16: Reform to interest rate benchmark (IBOR reform). The IASB published the proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues that arise during the reform of an interest rate benchmark, including its replacement by alternative interest rates. The most significant amendments are those related to the accounting of financial instruments at amortized cost. For those instruments measured at amortized cost, the amendments propose, as a practical solution, that entities account for the change as a consequence of the IBOR reform, by updating the effective interest rate in accordance with paragraph B5.4.5 of IFRS 9. Consequently, no immediate profits or losses are recognized. This practical solution only applies to that amendment, and only if (i) it is required as a direct consequence of IBOR reform; and (ii) the new rate is equivalent to the previous rate in economic terms. According to the amendments to IFRS 16, a lessee shall apply a similar practical solution when accounting for a lease modification that changes the basis for determining future lease payments resulting from the IBOR reform (for example, in cases where lease payments are subject to an interest rate benchmark). The amendments which came into force as of January 1, 2021, do not have any substantial impact on the Group’s financial statements. ii. Amendment to IFRS 16 Leases: COVID-19-Related Rent Concessions Many lessors have provided, or expect to provide, rent concessions to lessees as a consequence of COVID-19 pandemic. Said concessions can be of varied nature, including grace periods and deferral of lease payments, sometimes followed by an increase in rental payments in future periods. IFRS 16 contains requirements that apply to these concessions. However, the IASB noted that it could be difficult to apply those requirements to a potentially large volume of COVID-19-related rent concessions, especially in light of the many other challenges faced by stakeholders during the pandemic. As a result, the IASB provided some relief to the lessees (but not to the lessors) in the form of an optional exemption to evaluate whether a COVID-19-Related Rent Concession means a lease modification. The lessees may opt for accounting for rent concessions in the same way as they would do it if they were not lease modifications. In many cases, this fact will lead to account for concessions as a variable lease payment. This simplification only applies to rent concessions taking place as a direct consequence of COVID-19 pandemic. Lessees using this exemption must disclose this fact, as well as the amount recognized in Income arising from COVID-19-related rent concessions. If a lessee chooses to apply the practical solution to a lease, it will apply it systematically to all lease contracts with similar characteristics and under similar circumstances. The amendment will be retrospectively applied in accordance with IAS 8, but lessees are not required to restate the figures of prior periods or provide the disclosure in accordance with paragraph 28 (f) of IAS 8. The mandatory amendments applicable to annual periods beginning as of June 1, 2020, do not have any impact on the Group’s financial statements. (f) New accounting standards and amendments issued by the 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 fiscal years commenced January 1, 2021, and have not been early adopted by the Group: i. Sale or Contribution of Assets between an Investor and its Associate or Joint Venture - Amendments to IFRS 10 and IAS 28. The IASB made specific amendments to IFRS 10 “Consolidated Financial Statements” and to IAS 28 “Investments in Associates and Joint Ventures.” These amendments clarify the accounting for sales or contributions of assets between an investor and its associates or joint ventures and confirm that the accounting treatment depends on whether the non-monetary non-monetary ii. IFRS 17 “Insurance Contracts.” On May 18, 2017, the IASB issued IFRS 17 “Insurance Contracts,” which provides a comprehensive, principle-based framework for the measurement and presentation of all insurance contracts. The new standard will replace IFRS 4 “Insurance Contracts” and requires that insurance contracts be measured using current compliance cash flows and that revenues be recognized as the service is provided during the coverage period. This standard is effective for fiscal years commencing on or after January 1, 2023. The Group is evaluating the impact of adopting this new standard. iii. 2018-2020 Annual Improvements: • Commissions included in the 10% test for derecognition of financial liabilities The amendment to IFRS 9 establishes the commissions to be included in the 10% test to determine the derecognition of financial liabilities. The costs or commissions could be paid to third parties or the lender. According to the amendment, the costs or commissions paid to third parties will not be included in the 10% test. • Subsidiaries adopting the IFRS for the first time IFRS 1 grants an exemption to subsidiaries adopting the IFRS after their parent company. The subsidiary may measure its assets and liabilities at the carrying amounts that would have been included in the consolidated financial statements of its parent company, based on the parent’s transition date to IFRS, if no adjustments were made for consolidation purposes, and for the purposes of the business combination by which the parent acquired the subsidiary. IFRS 1 was amended to allow entities that have used the IFRS 1 exemption to also measure the accumulated translation differences using the amounts reported by the parent company, according to the parent’s transition date to the IFRS. The amendment to IFRS 1 extends the exemption to the aforementioned accumulated translation differences to reduce the costs of the entities adopting the IFRS for the first time. The amendment will also apply to the associates and joint ventures that have used the same exemption to IFRS 1. All the amendments come into force as of January 1, 2022. iv. Amendments to IAS 1 Presentation of Financial Statements, IFRS Practice Document 2, and IAS 8 Accounting Standards, Changes in Accounting Estimates, and Errors The IASB amended IAS 1 Presentation of Financial Statements Making Judgments Related to Materiality The amendment to IAS 8 Accounting Standards, Changes in Accounting Estimates, and Errors These amendments are applicable to fiscal years commenced on or after January 1, 2023. Early application is allowed. Amendments must be prospectively applied. It is estimated that they do not have any substantial impact on the Group’s financial statements. v. Amendments to IAS 16 Property, Plant and Equipment - Assets obtained before the intended use. The amendments prohibit a company from deducting from the cost of the good the amounts received from sales made while the company is preparing the asset for its intended use. The revenue from selling such products or samples, jointly with production costs, will be recognized in other comprehensive income of the corresponding period. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. vi. Amendments to IAS 37 - Onerous Contracts - Cost of Fulfilling a Contract These amendments specify the costs that a company must include when evaluating whether a contract will cause deficit. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. vii. Amendments to IFRS 3 Recognition and Measurement of identifiable assets acquired, liabilities assumed, and any non-controlling interest in the acquiree. It updates a IFRS 3 reference to the Conceptual Framework of Financial Reporting without changing the accounting requirements for business combinations. This amendment was published in May 2020 and will come into force for the fiscal years commencing as of January 1, 2022. It is estimated that it does not have any substantial impact on the Group’s financial statements. viii. Amendment to IAS 12 – deferred tax related to assets and liabilities arising from a single transaction. These amendments require companies to recognize deferred tax on transactions that, on initial recognition give rise to equal amounts of taxable and deductible temporary differences. 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, 2021. 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 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 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 The Group treats transactions with non-controlling non-controlling non-controlling |
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, 2021, and December 31, 2020, balances in U.S. Dollars were translated at the reference exchange rate (Ps.102.75 and Ps.84.145, 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 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 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 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 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 • 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- 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 • 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 Payments related to short-term leases and leases of low-value Low-value 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 Non-current • 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 Non-current 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 |
IMPAIRMENT OF NON-FINANCIAL ASSETS | 1.16. IMPAIRMENT OF NON-FINANCIAL 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 |
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 |
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 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 Non-financial |
DEBT SECURITIES AND SUBORDINATED DEBT SECURITIES | 1.22. DEBT SECURITIES AND SUBORDINATED DEBT SECURITIES The Group’s Debt Securities and Subordinated 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 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 and Naranja Digital Compañía Financiera S.A.U., 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 and Naranja Digital Compañía Financiera S.A.U., 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 income 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 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 LEVEL 3 FINANCIAL INSTRUMENTS | a. FAIR VALUE OF LEVEL 3 FINANCIAL INSTRUMENTS The fair value of financial instruments classified as level 3 are not listed in active markets and is therefore determined by using valuation techniques. The valuation of level 3 financial instruments involves one or more inputs which are unobservable and significant to their fair value measurement. The Group uses valuation models and unobservable inputs, including projected cash flows, discount rates and volatilities and correlations relating to interest rates and spreads, to estimate the fair value of level 3 financial instruments. These valuation techniques require management to make significant estimates and judgments. |
VALUATION OF EXPECTED CREDIT LOSS ALLOWANCE | b. VALUATION OF EXPECTED CREDIT LOSS ALLOWANCE The Group records the allowance for loan losses under the expected credit losses (ECL) method included in IFRS 9. The ECL is typically estimated using quantitative methods that consider a variety of factors such as historical loss experience, the current credit quality of the portfolio as well as an economic outlook over the life of the loan. The most significant judgments of the model relate to making assumptions about macroeconomic scenarios. These macroeconomic scenarios include variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to, unemployment rates, gross domestic product levels and corporate bond spreads. As any one economic outlook is inherently uncertain, the Group leverages multiple scenarios. The scenarios developed and the weighting given to each scenario depend on a variety of factors including recent economic events, leading economic indicators, views of internal and third-party economists and industry trends. A high degree of uncertainty is involved in making estimations using assumptions that are highly subjective and very sensitive to the risk factors. |
IMPAIRMENT OF NON-FINANCIAL ASSETS | c. IMPAIRMENT OF NON-FINANCIAL 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, 2021 | |
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, 2021 | |
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 12.31.21 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 237,426,843 — Argentine Central Bank’s Bills and Notes 181,567,431 — — Government Securities 51,904,219 — — Corporate Securities 2,465,248 — — Derivative Financial Instruments 1,247,078 — — Repurchase Transactions — 203,205,457 — Other Financial Assets 10,039,375 13,332,551 — Loans and Other Financing — 744,433,702 — Other Debt Securities — 90,126,580 4,230,419 Financial Assets Pledged as Collateral 12,051,320 23,184,348 — Investments in Equity Instruments 1,251,934 — — Liabilities Deposits — 1,035,957,929 — Liabilities at fair value through profit or loss 75,674 — — Derivative Financial Instruments 712,129 — — Repurchase Transactions — 324,119 — Other Financial Liabilities — 195,659,168 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 23,710,704 — Debt Securities — 27,971,776 — Subordinated Debt Securities — 26,275,536 — Portfolio of Instruments as of 12.31.20 Fair Value through Profit or Loss Amortized Cost Fair Value through OCI Assets Cash and Due from Banks — 264,787,060 — Argentine Central Bank’s Bills and Notes 193,695,730 — — Government Securities 36,652,618 — — Corporate Securities 4,244,475 — — Derivative Financial Instruments 3,267,935 — — Repurchase Transactions — 92,067,820 — Other Financial Assets 4,214,265 11,021,219 — Loans and Other Financing — 794,608,259 — Other Debt Securities — 28,505,749 6,317,055 Financial Assets Pledged as Collateral 3,072,506 25,179,908 — Investments in Equity Instruments 8,621,309 — — Liabilities Deposits — 1,020,886,486 — Liabilities at fair value through profit or loss — — — Derivative Financial Instruments 86,716 — — Other Financial Liabilities — 147,171,842 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 20,880,419 — Debt Securities — 25,771,621 — Subordinated Debt Securities — 32,684,216 — |
Fair Values (Tables)
Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 12.31.21 Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Argentine Central Bank’s Bills and Notes — 181,567,431 — Government Securities 48,196,411 1,980,000 1,727,808 Corporate Securities 2,127,047 — 338,201 Derivative Financial Instruments — 1,247,078 — Other Financial Assets 4,442,031 12,038 5,585,306 Other Debt Securities (*) 4,230,419 — — Financial Assets Pledged as Collateral 12,051,320 — — Investments in Equity Investments 64,585 — 1,187,349 Liabilities Liabilities at fair value through profit or loss 75,674 — — Derivative Financial Instruments — 712,129 — Total 71,036,139 184,094,418 8,838,664 (*) It relates to Government Securities measured at fair value through other comprehensive income. Portfolio of Instruments as of 12.31.20 Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Argentine Central Bank’s Bills and Notes — 193,695,730 — Government Securities 34,973,924 1,375,652 303,042 Corporate Securities 2,496,545 — 1,747,930 Derivative Financial Instruments — 827,053 2,440,882 Other Financial Assets 4,167,088 47,177 — Other Debt Securities (*) 913,191 5,403,864 — Financial Assets Pledged as Collateral 3,072,506 — — Equity Investments 354,372 — 8,266,937 Liabilities Liabilities at fair value through profit or loss — — — Derivative Financial Instruments — 86,716 — Total 45,977,626 201,262,760 12,758,791 (*) 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 12.31.20 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.21 Government Securities 303,042 720,774 2,403,032 (1,703,054 ) (41,167 ) 45,181 1,727,808 Corporate Securities 1,747,930 (115,844 ) 1,129,266 (729,099 ) 47,218 (1,741,270 ) 338,201 Other Financial Assets — — 5,585,306 — — — 5,585,306 Derivative Financial Instruments 2,440,882 — — (1,617,103 ) — (823,779 ) — Financial Assets Pledged as Collateral — — — — — — — Investments in Equity Instruments 8,266,937 423,148 — (5,112,660 ) 510,341 (2,900,417 ) 1,187,349 Total 12,758,791 1,028,078 9,117,604 (9,161,916 ) 516,392 (5,420,285 ) 8,838,664 (*) They include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.19 Transfers (*) Recognition Derecognition Income (Loss) Inflation 12.31.20 Government Securities 10,670,072 (2,617,950 ) 27,958,069 (34,635,558 ) 1,381,483 (2,453,074 ) 303,042 Corporate Securities 379,876 186,587 5,811,807 (4,522,684 ) 150,677 (258,333 ) 1,747,930 Derivative Financial Instruments 1,912,183 — — — 1,036,317 (507,618 ) 2,440,882 Financial Assets Pledged as Collateral 2,120,733 (316,742 ) 1,057,284 (2,385,732 ) (244,960 ) (230,583 ) — Investments in Equity Instruments 9,026,169 — — — 1,588,273 (2,347,505 ) 8,266,937 Total 24,109,033 (2,748,105 ) 34,827,160 (41,543,974 ) 3,911,790 (5,797,113 ) 12,758,791 (*) 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 12.31.21 Book Value Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets Cash and Due from Banks 237,426,843 237,426,843 237,426,843 — — Repurchase Transactions 203,205,457 203,205,457 203,205,457 — — Loans and Other Financing 744,433,702 748,649,983 — — 748,649,983 Other Financial Assets 13,332,551 13,660,673 9,550,403 — 4,110,270 Other Debt Securities 90,126,580 90,126,580 — — 90,126,580 Financial Assets Pledged as Collateral 23,184,348 23,184,348 23,184,348 — — Liabilities Deposits 1,035,957,929 1,035,936,049 — — 1,035,936,049 Repurchase Transactions 324,119 324,119 — — 324,119 Financing Received from the Argentine Central Bank and Other Financial Institutions 23,710,704 23,574,332 — — 23,574,332 Debt Securities 27,971,776 27,578,207 23,133,327 — 4,444,880 Subordinated Debt Securities 26,275,536 25,938,727 — — 25,938,727 Other Financial Liabilities 195,659,168 195,484,656 — — 195,484,656 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 264,787,060 264,787,060 264,787,060 — — Repurchase Transactions 92,067,820 92,067,820 92,067,820 — — Loans and Other Financing 794,608,259 796,722,083 — — 796,722,083 Other Financial Assets 11,021,219 11,184,121 6,640,801 — 4,543,320 Other Debt Securities 28,505,749 28,532,180 — — 28,532,180 Financial Assets Pledged as Collateral 25,179,908 25,179,908 25,179,908 — — Liabilities Deposits 1,020,886,486 1,020,882,232 — — 1,020,882,232 Financing Received from the Argentine Central Bank and Other Financial Institutions 20,880,419 19,163,963 — — 19,163,963 Debt Securities 25,771,621 24,464,155 18,427,059 — 6,037,096 Subordinated Debt Securities 32,684,216 31,983,918 — — 31,983,918 Other Financial Liabilities 147,171,842 146,586,013 — — 146,586,013 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | Cash and cash equivalents break down as follows: 12.31.21 12.31.20 12.31.19 Net cash and Due from Banks (1) 237,426,843 264,787,060 268,474,449 Argentine Central Bank’s Bills and Notes Maturing up to 90 Days (2) 181,567,431 193,695,729 119,475,780 Reverse repurchase Transactions Debtors (3) 202,522,230 91,835,978 61,640,389 Loans to Financial Institutions (3) 6,582,500 9,811,206 — Overnight Placements in Foreign Banks (4) 5,615,877 2,508,399 16,181,981 Mutual Funds (5) 4,442,031 4,167,088 10,210,476 Time Deposits (3) 3,804,241 4,991,443 1,004,712 Total Cash and Cash Equivalents 641,961,153 571,796,903 476,987,787 (1) Net of Cash and Cash Equivalents for spot purchases or sales pending settlement. (2) Included within Repurchase transactions. (3) Included within Loans and Other Financing. (4) Included within Other financial assets. (5) Included within Debt Securities at Fair Value through Profit or Loss. |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Derivative Instrument Transactions | The amounts of transactions as of December 31, 2021, and 2020 are as follows: Underlying Asset Type of Settlement 12.31.21 (*) 12.31.20 (*) Currency Forward Transactions Purchases Foreign currency Daily difference 76,738,445 38,817,252 Sales Foreign currency Daily difference 57,740,766 21,627,556 Customers´ Purchases Foreign currency Daily difference 10,162,388 2,338,623 Customers´ Sales Foreign currency Daily difference 31,398,862 18,963,363 Interest Rate Swaps Swaps Others Other — 125,144 Repurchase Transactions Forward Purchases Government Securities With delivery of the 323,534 — Forward Sales Government Securities With delivery of the 204,755,685 93,468,930 (*) Notional values. |
Repurchase Transactions (Tables
Repurchase Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Repo Transactions and Reverse Repo Transactions | As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.21 12.31.20 Debtors for Reserve Repurchase Transactions of Government Securities 202,522,230 91,835,978 Interest Accrued Receivable for Reserve Repurchase Transactions 683,227 231,842 Total Repurchase Transactions—Assets 203,205,457 92,067,820 12.31.21 12.31.20 Creditors for Repurchase Transactions of Government Securities 322,881 — Interest Accrued Payable for Repurchase Transactions 1,238 — Total Repurchase Transactions—Liabilities 324,119 — |
Summary of Repo Agreements in Financial Assets Pledged as Collateral and Reverse Repo Agreements in Off-Balance Sheet Items | The notional values of the assets transferred in repurchase transactions are presented in Note 7 and Schedule O. 12.31.21 12.31.20 Reverse Repurchase Transactions recorded in Off-Balance 204,795,923 93,468,930 Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral 323,534 — |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Financial Assets | As of the indicated dates, the balances of “Other Financial Assets” were as follows: 12.31.21 12.31.20 Receivables from Spot Sales of Foreign Currency Pending Settlement 397,058 162,326 Receivables from Spot Sales of Government Securities Pending Settlement 3,482,549 1,871,480 Sundry Debtors (*) 13,332,784 7,275,171 Mutual Funds 4,442,031 4,167,088 Premiums from financial guarantee contracts 298,923 730,600 Interest accrued receivable 1,456,260 1,018,145 Fiduciary Participation Certificates 12,038 47,177 Balances from claims pending recovery 15,121 43,284 Others — 4,294 Minus: Allowances (64,838 ) (84,081 ) Total 23,371,926 15,235,484 (*) It includes the receivable for the sale the shareholding in Prisma Medios de Pago. See Note 54 for further information. |
Summary of Credit Rating Quality Analysis of Other Financial Assets | The credit rating quality analysis of Other Financial Assets as of December 31, 2021, was as follows: Debtors Debtors for Sundry Mutual Premiums Interest Fiduciary Balances Not yet due 397,058 3,482,549 13,324,323 4,442,031 298,923 1,456,260 12,038 15,121 Impaired/Uncollectible — — 8,461 — — — — — Allowances — — (64,838 ) — — — — — Total 397,058 3,482,549 13,267,946 4,442,031 298,923 1,456,260 12,038 15,121 The main factors considered by the Group to determine the impaired assets are their due date status and the possibility to realize the related collateral, if appropriate. Related-party information is disclosed in Note 51. |
Loans and Other Financing (Tabl
Loans and Other Financing (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Net Loans and Other Financing | The composition of the Loans and Other Financing portfolio as of the indicated dates is detailed below: 12.31.21 12.31.20 Non-financial 498 504 Argentine Central Bank 533 19,917 Financial Institutions 12,746,201 22,189,326 Loans 12,746,201 22,189,326 Non-financial 779,004,889 828,599,473 Loans 765,880,766 810,868,509 Advances 53,152,720 44,104,286 Notes 194,471,663 217,007,796 Mortgage Loans 18,419,566 24,884,743 Pledge Loans 16,220,243 17,488,993 Personal Loans 65,896,440 55,099,972 Credit Card Loans 367,957,854 364,966,327 Other Loans 22,806,981 54,990,173 Accrued Interest, Adjustments and Quotation Differences Receivable 29,353,974 35,697,497 Documented Interest (2,398,675 ) (3,371,278 ) Financial Leases 1,114,408 2,800,073 Other Financing 12,009,715 14,930,891 Less: Allowances (47,318,419 ) (56,200,961 ) Total 744,433,702 794,608,259 |
Financial Assets Pledged as C_2
Financial Assets Pledged as Collateral (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 Deposits as Collateral 16,394,982 10,414,132 Special Accounts as Collateral—Argentine Central Bank 18,517,152 17,274,590 Trust as Collateral — 563,692 Forward Purchases of monetary regulatory instruments 323,534 — Total 35,235,668 28,252,414 |
Current Income Tax Assets (Tabl
Current Income Tax Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Current Income Tax Assets | As of the indicated dates, the balances of Current Income Tax Assets correspond to: 12.31.21 12.31.20 Tax Advances 76,381 297,497 Total 76,381 297,497 |
Equity Investments in Subsidi_2
Equity Investments in Subsidiaries, Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Equity Investments in Subsidiaries | The interest and shareholding percentages in companies over which the Group exerts control, and which are consolidated by the Group, are detailed below: Direct and Indirect Shareholding Equity Investment Company 12.31.21 12.31.20 12.31.21 12.31.20 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 3,910,000 100.00 % 100.00 % Galicia Asset Management S.A.U. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,309 71,309 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.U. 95,392,000 95,392,000 100.00 % 100.00 % Galicia Seguros S.A.U. 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 77,643,963 100.00 % 100.00 % INVIU 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 1,012,567,500 100.00 % 100.00 % Ondara S.A. 25,776,101 25,776,101 100.00 % 100.00 % Sudamericana Holding S.A. 185,653 185,653 100.00 % 100.00 % Tarjeta Naranja S.A. 2,824 2,824 100.00 % 100.00 % Tarjetas Regionales S.A. 1,680,183,936 1,680,183,936 100.00 % 100.00 % |
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: 12.31.21 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 1,475,481,065 1,223,387,627 252,093,438 22,932,127 Cobranzas Regionales S.A. 4,480,289 3,042,245 1,438,044 (1,372,320 ) Galicia Asset Management S.A.U. 2,794,107 937,219 1,856,888 2,132,887 Galicia Broker Asesores de Seguros S.A. (**) 85,872 30,412 55,460 53,408 Galicia Retiro Compañía de Seguros S.A. (**) 691,989 551,473 140,516 (25,995 ) Galicia Securities S.A.U. 4,234,744 3,564,205 670,539 459,039 Galicia Seguros S.A.U. (**) 6,626,001 4,307,192 2,318,809 1,240,064 Galicia Warrants S.A. 1,020,516 314,499 706,017 12,932 IGAM LLC 675,266 288 674,978 (1,150,556 ) INVIU Uruguay Agente de Valores S.A. 76,225 4,228 71,997 (28,369 ) INVIU S.A.U. 1,796,569 1,296,313 500,256 (930,514 ) Naranja Digital Compañía Financiera S.A.U. 1,315,560 90,392 1,225,168 (880,922 ) Ondara S.A. 34,133 14 34,119 (13,618 ) Sudamericana Holding S.A. (**) 2,743,029 11,276 2,731,753 1,197,774 Tarjeta Naranja S.A. 193,754,221 154,552,978 39,201,243 9,088,823 Tarjetas Regionales S.A. 44,812,562 5,364 44,807,198 6,223,420 (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2021. 12.31.20 Company Assets Liabilities Shareholders’ Equity Net Income (*) Banco de Galicia y Buenos Aires S.A.U. 1,427,936,985 1,198,775,669 229,161,316 31,276,853 Cobranzas Regionales S.A. 2,240,407 1,907,665 332,742 (857,134 ) Galicia Asset Management S.A.U. 2,086,118 707,491 1,378,627 1,692,895 Galicia Broker Asesores de Seguros S.A. (**) 71,291 30,709 40,582 61,463 Galicia Retiro Compañía de Seguros S.A. (**) 765,344 597,963 167,381 5,520 Galicia Securities S.A.U. (***) 3,874,213 3,358,527 515,686 347,259 Galicia Seguros S.A.U. (**) 7,121,052 4,607,949 2,513,103 1,853,355 Galicia Warrants S.A. 1,060,887 259,245 801,642 (62,149 ) IGAM LLC 656,675 136,709 519,966 236,251 INVIU Uruguay Agente de Valores S.A. 1,306 4,226 (2,920 ) (4,229 ) INVIU S.A.U. 654,001 241,624 412,377 242,186 Naranja Digital Compañía Financiera S.A.U. 1,258,530 82,897 1,175,633 (650,865 ) Ondara S.A. 47,879 142 47,737 (20,427 ) Sudamericana Holding S.A. (**) 3,991,335 85,940 3,905,395 1,985,486 Tarjeta Naranja S.A. 152,856,085 116,853,134 36,002,951 5,021,233 Tarjetas Regionales S.A. 38,627,624 43,847 38,583,777 3,260,735 (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2020. (***) Net income for the period between the purchase date and December 31,2020. |
Summary of investments in asociates | Company Equity Place of 12.31.21 12.31.20 Play Digital S.A. 13.06 % Autonomous 169,347 134,552 The movements of such investment are as follows: Company 12.31.20 Contributions (1) Sales of Profit Sharing 12.31.21 Play Digital S.A. 134,552 209,129 (45,182 ) (129,152 ) 169,347 (1) Banco Galicia has made new contributions after the closing. Company 12.31.19 Contributions Sales Profit Sharing 12.31.20 Play Digital S.A. — 323,309 — (188,757 ) 134,552 The basic information regarding Grupo Financiero Galicia’s associates is detailed as follows: Profit Sharing in income (loss) for the Year Company Assets Liabilities Shareholders’ Equity Net Income Play Digital S.A. 1,633,180 336,566 1,296,614 (1,497,307 ) |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of information about lease asset and liabilities | (i) Amounts recognized in the Statement of Financial Position: 12.31.21 12.31.20 Right-of-use (1) 4,504,770 6,117,050 Real estate 4,504,770 6,117,050 Lease Liabilities (2) 4,381,601 6,586,196 (1) Recorded in Property, Plant and Equipment. (2) Recorded in Other Financial Liabilities, see Note 25. |
Summary of information about income statement disclosures of leases | (ii) Amounts recognized in the Statement of Income: 12.31.21 12.31.20 Charge for depreciation of right-of-use (1)(2) 2,025,313 1,980,809 Interest Expenses (3) 530,330 602,031 Expenses related to short-term leases (4) 249,575 213,884 Expenses related to low-value (4) 235,398 252,296 Sublease Income (5) 2,230 14,777 (1) Depreciation for right of use of Real Property. (2) Recorded in Depreciation and Impairment of assets, see Note 39. (3) Recorded in Other Operating Expenses, Lease Interest, see Note 40. (4) Recorded in Administrative Expenses, see Note 38. (5) Recorded in Other Operating Income, see Note 34. |
Summary of quantitative information about right of use assets and lease liabilities | The roll forward of right -of-use Right-of-use 12.31.21 12.31.20 Balances at the beginning of the year 6,117,050 7,564,491 Additions 602,421 950,004 Cancellation of contracts (189,388 ) (416,636 ) Depreciation of the year (2,025,313 ) (1,980,809 ) Balances at the end of the year 4,504,770 6,117,050 Lease liabilities (1) 12.31.21 12.31.20 Balances at the beginning of the year 6,586,196 7,743,286 New contracts 602,421 950,004 Cancellation of contracts (189,388 ) (416,636 ) Lease payments (1,736,133 ) (2,012,188 ) Leases financial cost 530,330 602,031 Translation differences and inflation adjustment (1,411,825 ) (280,301 ) Balances at the end of the year 4,381,601 6,586,196 (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, 2021 | |
Text block [abstract] | |
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, 2021, and December 31, 2020, are as follows: Deferred Tax Assets Item 12.31.20 Charge to Income Others 12.31.21 Valuation of Securities 158 (158 ) — — Derivate Instruments — 17,092 — 17,092 Loans and Other Financing 16,961,608 (418,327 ) — 16,543,281 Tax Loss Carryforwards 472,129 423,566 — 895,695 Other Non-financial 45,174 (33,362 ) — 11,812 Other Financial Liabilities 2,809 (2,809 ) — — Subordinated Negotiable Obligations 10,663 (10,663 ) — — Provisions 1,188,513 (928,406 ) — 260,107 Other Non-financial 616,429 425,647 — 1,042,076 Foreign Currency Exchange Differences — 14,341 — 14,341 Inflation adjustment deferral 17,537,474 (511,624 ) (10,578,421 ) 6,447,429 Others 325,620 (212,997 ) — 112,623 Totals 37,160,577 (1,237,700 ) (10,578,421 ) 25,344,456 Net deferred tax assets in subsidiaries with net liability position (23,254,928 ) 2,196,867 — (21,058,061 ) Deferred tax assets 13,905,649 959,167 (10,578,421 ) 4,286,395 Deferred Tax Liabilities Item 12.31.20 Charge to Income Others 12.31.21 Valuation of Securities (1,968,609 ) 582,204 — (1,386,405 ) Other Financial Assets (37,924 ) (113,708 ) — (151,632 ) Property, Plant and Equipment (17,099,811 ) (1,251,247 ) — (18,351,058 ) Intangible Assets (3,992,949 ) (1,597,299 ) — (5,590,248 ) Other Non-financial (275,122 ) 60,103 — (215,019 ) Non-current — — — — Other Financial Liabilities (52,340 ) (84,520 ) — (136,860 ) Subordinated Negotiable Obligations (24,216 ) 24,216 — — Provisions — (651,084 ) — (651,084 ) Other Non-financial (616 ) 616 — — Foreign Currency Exchange Differences (3,660 ) 3,660 — — Inflation adjustment deferral (5,759 ) 78 — (5,681 ) Others (608 ) (60 ) — (668 ) Totals (23,461,614 ) (3,027,041 ) — (26,488,655 ) Net deferred tax liabilities in subsidiaries with net asset position 23,254,928 (2,196,867 ) — 21,058,061 Deferred tax liabilities (206,686 ) (5,223,908 ) — (5,430,594 ) Deferred Tax Assets Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities 77,327 (77,169 ) — 158 Loans and Other Financing 6,458,491 10,503,117 — 16,961,608 Tax Loss Carryforwards 100,550 371,579 — 472,129 Other Non-financial 23,340 21,834 — 45,174 Other Financial Liabilities — 2,809 — 2,809 Subordinated Negotiable Obligations — 10,663 — 10,663 Allowance for Impairment 14,401 (14,401 ) — — Provisions 3,570,300 (2,381,787 ) — 1,188,513 Other Non-financial Liabilities 930,430 (314,001 ) — 616,429 Inflation adjustment deferral 11,946,143 5,591,331 — 17,537,474 Others 135,592 190,028 — 325,620 Totals 23,256,574 13,904,003 — 37,160,577 Net deferred tax assets in subsidiaries with net liability position (17,488,512 ) (5,766,416 ) — (23,254,928 ) Deferred tax assets 5,768,062 8,137,587 — 13,905,649 Deferred Tax Liabilities Item 12.31.19 Charge to Income Others 12.31.20 Valuation of Securities (43,144 ) (1,925,465 ) — (1,968,609 ) Other Financial Assets (107,223 ) 69,299 — (37,924 ) Property, Plant and Equipment (15,613,004 ) (1,486,807 ) — (17,099,811 ) Intangible Assets (1,502,460 ) (2,490,489 ) — (3,992,949 ) Other Non-financial Assets (1,273,139 ) 998,017 — (275,122 ) Non-current (3,172,947 ) 3,172,947 — — Other Financial Liabilities (52,340 ) — — (52,340 ) Subordinated Negotiable Obligations (24,216 ) — — (24,216 ) Provisions (224,154 ) 224,154 — — Other Non-financial Liabilities (27,437 ) 26,821 — (616 ) Foreign Currency Exchange Differences (6,062 ) 2,402 — (3,660 ) Inflation adjustment deferral — (5,759 ) — (5,759 ) Others (1,659 ) 1,051 — (608 ) Totals (22,047,785 ) (1,413,829 ) — (23,461,614 ) Net deferred tax liabilities in subsidiaries with net asset position 17,488,512 5,766,416 — 23,254,928 Deferred tax liabilities (4,559,273 ) 4,352,587 — (206,686 ) |
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 40,550 2023 12,165 2019 294,615 2024 88,385 2020 1,238,597 2025 371,579 2021 1,210,189 2026 423,566 2,783,951 895,695 |
Assets_Liabilities for Insura_2
Assets/Liabilities for Insurance Contracts (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Assets Related to Insurance Contracts | Assets related to insurance contracts as of the indicated dates are detailed as follows: Assets from Insurance Contracts 12.31.21 12.31.20 Premiums Receivable 3,139,617 2,804,458 Credits with Reinsurers 17,856 3,013 Fees Receivables 15,085 11,728 Others 44,959 26,639 Total 3,217,517 2,845,838 |
Liabilities Related to Insurance Contracts | Liabilities related to insurance contracts as of the indicated dates are detailed as follows: Liabilities from Insurance Contracts 12.31.21 12.31.20 Debts with Insured Persons 813,337 808,659 Debts with Reinsurers 26,059 31,440 Debts with Co-insurers 1,059 2,302 Debts with Producers 590,368 560,996 Technical Commitments 1,743,441 1,681,677 Others 86,814 84,140 Pending Claims in charge of Reinsures (70,449 ) (58,343 ) Total 3,190,629 3,110,871 |
Summary of Debts with Insureds | Debts with Insured Persons 12.31.21 12.31.20 Property & Casualty Insurance 470,063 369,850 Direct Administrative Insurance 278,589 204,885 Direct Insurance in Lawsuits 9,266 7,855 Direct Insurance in Mediation 2,467 2,954 Settled Claims Payable 13,084 8,758 Pending Claims, Active Reinsurance and Retrocession 716 5,054 Claims Incurred but not Reported (IBNR) 146,423 140,344 Others 19,518 — Life Insurance 343,150 438,809 Direct Administrative Insurance 277,999 337,142 Direct Insurance in Lawsuits 20,964 18,789 Direct Insurance in Mediation 7,418 12,057 Settled Claims Payable 1,619 39,980 Pending Claims, Active Reinsurance and Retrocession 21,584 18,035 Claims Incurred but not Reported (IBNR) 13,566 11,921 Redemptions Payable — 885 Retirement Insurance 124 — Annuities Payable in Arrears 124 — Total 813,337 808,659 |
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 83,820 — (57,761 ) — (70,449 ) (44,390 ) Debts with Co-insurers 1,059 — — — — 1,059 Total as of 12.31.21 84,879 — (57,761 ) — (70,449 ) (43,331 ) Total as of 12.31.20 81,641 — (47,899 ) — (58,343 ) (24,601 ) |
Summary of debts with producers | Debts with Producers 12.31.21 12.31.20 Checking Account—Producers 104,984 92,425 Fees for Premiums Receivable 472,659 440,333 Production Expenses Payable 12,725 28,238 Total 590,368 560,996 |
Summary of Technical Commitments | Technical Commitments 12.31.21 12.31.20 Ongoing and Similar Risk 1,025,356 921,461 Premiums and Surcharges 949,292 855,946 Premiums on Passive Reinsurance (11,080 ) (21,100 ) Active Reinsurance 87,007 86,615 Insufficient Premiums 137 — Mathematical Reserves 718,085 760,216 Mathematical Reserves for Individual Life Insurance 224,411 232,971 Mathematical Reserves for Individual Retirement Insurance 157,782 170,843 Mathematical Reserves of Life Annuities 225,012 231,597 Provision for the Mathematical Reserve Recomposition 20 21 Fluctuation Funds 110,072 124,784 Others 788 — Total 1,743,441 1,681,677 |
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: 12.31.21 12.31.20 Mortality Table GAM 94 GAM 94 Investment (Discount) Rate Products in USD: 14.77% annually Products in USD: 14.77% annually Products in Ps.: 7.58% annually Products in Ps.: 7.58% 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 75% of the projection of the BADLAR rate starting from 34.22% plus the correction according to Resolution 2020-321 Administrative Expenses 399.21 for voluntary retirement and 2880.21 for annuities 422.18 for voluntary retirement and 2640.45 for annuities |
Other Non-financial Assets (Tab
Other Non-financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Non-financial Assets | “Other Non-financial 12.31.21 12.31.20 Payments on behalf of third parties 890,797 673,257 Advances of fee s 6,875 15,168 Advance s 3,963 5,371 Tax Credits 1,380,337 3,334,086 Payments made in Advance 4,142,665 3,519,557 Advances for Purchase of Assets 981,417 735,958 Investment properties (*) 857,416 876,470 Other Sundry Assets Measured at Cost 1,704,211 1,852,596 Assets Taken in Defense of Credits 7,813 7,813 Others 423,293 503,243 Total 10,398,787 11,523,519 (*) 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, 2021 | |
Text block [abstract] | |
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”: 12.31.21 12.31.20 Property, Plant and Equipment Real Estate 657 44,268 Total 657 44,268 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Deposits | Deposits break down as follows as of the indicated dates: 12.31.21 12.31.20 In Pesos 837,609,140 769,928,815 Checking Accounts 239,632,269 158,529,340 Savings Accounts 239,205,261 276,181,268 Time Deposits 330,576,459 315,034,243 Time Deposits – UVA 15,441,189 8,400,426 Others 3,031,493 2,912,666 Interest and Adjustments 9,722,469 8,870,872 In Foreign Currency 198,348,789 250,957,671 Savings Accounts 163,281,031 202,279,348 Time Deposits 33,943,384 46,993,451 Others 1,057,207 1,544,602 Interest and Adjustments 67,167 140,270 Total 1,035,957,929 1,020,886,486 |
Other Financial Liabilities (Ta
Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 Creditors for Purchase to be Settled 30,874,858 497,799 Collections and Other Transactions on Behalf of Third Parties 14,934,005 16,713,307 Obligations for Purchase Financing 132,432,870 113,133,935 Creditors for Purchase of Foreign Currency to be Settled 3,048,154 764,106 Accrued Fees Payable 862,462 918,409 Sundry Items Subject to Minimum Cash 1,156,598 1,886,494 Sundry Items not Subject to Minimum Cash 7,514,509 5,634,324 Financial Liabilities for guarantees and sureties granted (financial guarantee contracts) 343,568 752,989 Cash or equivalents for purchases or cash sales to be settled 100,842 15,778 Lease Liabilities 4,381,601 6,586,196 Other Financial Liabilities 9,701 268,505 Total 195,659,168 147,171,842 |
Loans from the Argentine Cent_2
Loans from the Argentine Central Bank and Other Financial Institutions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Loans from the Argentina Central Bank and Other Financial Institutions | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 Argentine Central Bank Financing 42,326 32,253 Correspondents 3,468,765 2,909,160 Financing from Local Financial Institutions 17,113,859 10,620,820 Financing from Foreign Financial Institutions 345,754 — Financing from International Financial Institutions 2,740,000 7,318,186 Total 23,710,704 20,880,419 |
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 12.31.21 (**) Local Institutions 17,156,185 BICE Sundry Dates Ps. 2,080 days 39.5 Sundry Dates 476,852 BICE Sundry Dates USD 1,449 days 4.2 Sundry Dates 1,276,013 Agreements with Banks (1) Sundry Dates Ps. 364 days 41.6 Sundry Dates 14,760,994 Call Taken 12.30.21 Ps. 4 days 29.5 01.03.22 100,000 Call Taken 12.29.21 Ps. 7 days 30.0 01.03.22 500,000 Argentine Central Bank 12.30.21 Ps. 4 days — 01.03.22 42,326 International Institutions 6,554,519 Correspondents 12.30.21 USD 5 days — 01.03.22 3,468,765 IFC Sundry Dates USD 1,789 days 3.0 Sundry Dates 2,740,000 Pre-financing Sundry Dates USD 180 days 4.1 Sundry Dates 345,754 Total 23,710,704 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Naranja X’ credit lines. Financial Institutions and/or Agencies Placement Date Currency Term (*) Rate (*) Maturity Amount as 12.31.20 (**) Local Institutions 10,653,073 BICE Sundry Dates Ps. 1,655 days 30.7 Sundry Dates 2,007,815 BICE Sundry Dates USD 1,705 days 4.3 Sundry Dates 2,769,814 Agreements with Banks (1) 12.14.20 Ps. 365 days 40.8 12.14.21 5,526,212 Call Taken 12.30.20 Ps. 5 days 29.0 01.04.21 316,977 Argentine Central Bank 12.30.20 Ps. 5 days — 01.04.21 32,253 Other Lines (1) Sundry Dates Ps. 11 days 48.1 01.11.21 2 International Institutions 10,227,346 Correspondents 12.30.20 USD 5 days — 01.04.21 2,909,160 IFC Sundry Dates USD 1,552 days 3.2 Sundry dates 7,318,186 Total 20,880,419 (*) Weighted average. (**) It includes principal and interest. (1) Relates to Naranja X’ credit lines. |
Debt Securities (Tables)
Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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 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 Tarjeta Naranja 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. (**) Debt securities absorbed by Tarjeta Naranja S.A. resulting from the merger with Tarjetas Cuyanas S.A. |
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, 202 1 Company Placement Currency Class N° Face Value Type (**) Term Maturity Date Rate Issuance Authorized by the CNV Book (*) of 12.31.21 Banco de Galicia y Buenos Aires S.A.U. 08.19.21 Ps. IX 1,625,968 Simple 12 08.19.22 Badlar + 3% 05.06.21 1,669,855 Banco de Galicia y Buenos Aires S.A.U. 08.19.21 Ps. X 1,349,672 Simple 9 05.19.22 Fixed rate of 41% 05.06.21 1,063,940 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 15% Rate/ Badlar + 3.50% 03.30.17 1,336,150 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 628,964 Simple 549 01.08.22 Badlar + 4% 06.30.20 663,543 Tarjeta Naranja S.A. 02.17.21 Ps. XLVI 4,000,000 Simple 365 02.17.22 Badlar + 4.72% 09.02.21 4,165,622 Tarjeta Naranja S.A. 04.06.21 USD XLVII USD Simple 742 04.28.23 Fixed rate of 7% 03.23.21 879,406 Tarjeta Naranja S.A. 04.26.21 Ps. XLVIII 5,001,000 Simple 365 04.26.22 Badlar + 5% 04.26.21 5,256,324 Tarjeta Naranja S.A. 08.13.21 Ps. XLIX 2,712,000 Simple 365 08.13.22 Badlar + 5.5% 08.13.21 2,471,656 Tarjeta Naranja S.A. 08.13.21 Ps. XLIX 1,672,844 Simple 720 08.13.23 Badlar + 7.24% 08.13.21 1,726,485 Tarjeta Naranja S.A. 11.10.21 Ps. L 4,050,000 Simple 365 11.10.22 Badlar + 5% 11.10.21 4,126,148 Total 23,359,129 (*) It includes principal and interest. (**) Not convertible into shares. 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 36-month The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 20 20 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 04.26.21 Badlar + 3.5% 04.18.18 2,614,785 Banco de Galicia y Buenos Aires S.A.U. 11.20.20 Ps. VIII 1,589,722 Simple 9 08.20.21 Badlar + 2.25% 04.20.20 1,895,172 Tarjeta Naranja S.A. 04.11.17 Ps. XXXVII 3,845,700 Simple 1,826 04.11.22 Minimum 03.30.17 3,992,390 Tarjeta Naranja S.A. 07.08.20 Ps. XLIV 3,574,897 Simple 549 01.08.22 Badlar + 4% 06.30.20 5,447,500 Tarjeta Naranja S.A. 12.18.20 Ps. XLV 3,057,000 Simple 365 12.18.21 Badlar + 5% 12.14.20 3,986,539 Tarjeta Naranja S.A. (** * 06.09.17 Ps. XXVIII 371,825 Simple 1,461 06.09.21 Minimum 05.29.17 546,781 Total 18,483,167 (*) 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. |
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 12.31.21 Book Value (*) 12.31.21 Tarjeta Naranja S.A. XXXVII 9,820 54,569 Tarjeta Naranja S.A. XLIV 70,000 22,618 Tarjeta Naranja S.A. XLVI 38,000 39,698 Tarjeta Naranja S.A. XLVIII 99,300 102,788 Tarjeta Naranja S.A. XLIX Serie I 355,000 371,688 Tarjeta Naranja S.A. XLIX Serie II 27,000 28,420 Tarjeta Naranja S.A. L 125,479 130,917 Total 750,698 (*) 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 8,045 Banco de Galicia y Buenos Aires S.A.U. VIII 79,000 124,085 Tarjeta Naranja S.A. XXXVII 9,620 160,679 Tarjeta Naranja S.A. XLIV 235,000 380,451 Tarjeta Naranja S.A. XLV 440,000 669,456 Tarjeta Naranja S.A. (**) XXVIII Serie II 18,889 29,280 Total 1,371,996 (*) 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, 2021 | |
Text block [abstract] | |
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 12.31.21 (*) 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 26,275,536 32,684,216 (*) 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, 2021 | |
Text block [abstract] | |
Summary of Provisions | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 For Administrative, Disciplinary and Criminal Penalties — 8,009 For Termination Benefits 262,846 333,315 Others 4,118,753 5,358,680 Total 4,381,599 5,700,004 |
Other Non-financial Liabiliti_2
Other Non-financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Non-financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 Creditors for sale of assets 379,702 897,319 Tax withholdings and collections payable 12,754,525 10,196,331 Payroll and Social Contributions Payable 8,913,600 10,652,292 Withholdings on Payroll Payable 530,925 560,350 Fess to Directors and Syndics 237,007 334,366 Value-Added Tax 1,872,488 1,284,863 Sundry Creditors 6,919,749 6,712,568 Taxes Payable 5,963,974 4,937,142 Obligations Arising from Contracts with Customers (*) 2,152,830 2,035,750 Retirement payment orders pending settlement 119,351 136,735 Other Non-financial 381,004 406,928 Total 40,225,155 38,154,644 |
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! 937,709 457,843 460,337 1,855,889 |
Exchange Rate Differences on _2
Exchange Rate Differences on Gold and Foreign Currency (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Exchange rate differences on gold and foreign currency | The account breaks down as follows as of the indicated dates: Arising from: 12.31.21 12.31.20 12.31.19 For Purchase sale of foreign currency 2,066,195 7,699,878 25,983,226 For Valuation of Assets and Liabilities in Foreign Currency 2,428,524 2,937,654 (8,124,640 ) Total 4,494,719 10,637,532 17,858,586 |
Other Operating Income (Tables)
Other Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Operating Income | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Fees for Product Package 8,855,518 9,504,399 8,580,513 Other Adjustments and Interest on sundry Credits 7,080,332 7,918,443 4,694,722 Rental of Safety Deposit Boxes 2,027,792 1,954,995 1,525,192 Other Financial Income 468,544 874,271 2,486,420 Other Income from Services 7,585,940 6,396,211 5,043,328 Income for sale of non-currents (1) — — 14,605,635 Reversed allowances 1,010,670 2,566,042 131,565 Others 8,807,437 4,479,783 6,462,294 Total 35,836,233 33,694,144 43,529,669 |
Underwriting Income from Insu_2
Underwriting Income from Insurance Business (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Underwriting Income from Insurance Business | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Premiums and Surcharges Accrued 12,228,062 11,757,410 11,482,456 Claims Accrued (2,240,917 ) (1,700,907 ) (1,589,058 ) Redemptions (31,849 ) (25,425 ) (27,581 ) Fixed and Periodic Annuities (18,868 ) (20,510 ) (23,786 ) Production and Operating Expenses (2,450,832 ) (1,773,954 ) (2,459,131 ) Other Income and Expenses (135,650 ) (98,851 ) (110,684 ) Total 7,349,946 8,137,763 7,272,216 |
Loan Loss Charges (Tables)
Loan Loss Charges (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Loan Loss Charges | The following items are included in the account as of the indicated dates: 12.31.21 12.31.20 12.31.19 Expected credit loss allowance 20,382,127 50,306,792 43,670,035 Direct charge offs 2,880,454 2,567,431 1,611,797 Total 23,262,581 52,874,223 45,281,832 |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Personnel Expenses | NOTE 37. PERSONNEL EXPENSES The following are the items included in the account as of the indicated dates: 12.31.21 12.31.20 12.31.19 Payroll 27,981,483 29,871,087 30,949,799 Social Contributions on Payroll 6,531,544 6,872,376 6,793,541 Personnel Compensations and Rewards 9,698,832 8,772,365 9,697,005 Services for Personnel 1,183,790 1,155,040 1,468,250 Other Short-term Personnel Expenses 900,868 1,179,677 1,127,034 Other Long-term Personnel Expenses 147,754 186,782 205,234 Total 46,444,271 48,037,327 50,240,863 |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
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: 12.31.21 12.31.20 12.31.19 Fees and Remunerations for Services 2,956,799 4,526,498 6,352,108 Directors’ and Syndics’ Fees 391,080 713,371 335,701 Advertising and Marketing 2,310,136 2,418,915 4,467,170 Taxes 11,610,410 10,946,230 10,472,143 Maintenance and Repairs of Assets and Systems 8,117,717 7,183,943 5,825,779 Electricity and Communications 2,876,293 3,448,805 3,749,480 Representation and Travel Expenses 67,543 88,100 259,985 Stationery and Office Supplies 404,460 633,019 775,809 Rentals 484,973 466,180 204,969 Administrative Services under Contract 7,560,743 7,194,363 6,673,647 Security 1,158,881 1,754,416 2,011,152 Insurance 479,377 372,474 271,604 Armored Transportation Services 2,839,044 2,353,311 4,230,945 Others 3,946,078 4,861,125 4,511,782 Total 45,203,534 46,960,750 50,142,274 |
Depreciation and Impairment o_2
Depreciation and Impairment of Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Depreciation and Impairment of Assets | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Depreciation of Property, Plant and Equipment 8,422,576 7,808,724 7,516,828 Amortization of Organization and Development Expenses 6,065,909 4,512,571 2,882,099 Depreciation of other intangible assets 45 — — Others 8,952 183,142 8,413 Total 14,497,482 12,504,437 10,407,340 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Other Operating Expenses | The account breaks down as follows as of the indicated dates: 12.31.21 12.31.20 12.31.19 Turnover Tax 32,136,710 23,641,712 26,888,650 Contributions to the Deposit Insurance Scheme 1,611,354 1,598,913 1,773,596 Charges for Other Provisions 1,448,560 4,330,205 3,494,227 Claims 1,442,688 566,501 690,953 Other Financial Expenses — 431,696 3,771,675 Interest on leases 530,330 602,031 771,521 Credit-card-relates expenses 6,473,019 6,772,562 9,126,526 Other Expenses from Services 8,399,254 6,559,676 4,496,278 Others 1,792,154 1,629,319 1,941,153 Total 53,834,069 46,132,615 52,954,579 |
Income Tax_Deferred Tax (Tables
Income Tax/Deferred Tax (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Reconciliation of Income Tax Charged to Income | The following is a reconciliation of income tax charged to income as of December 31, 2021, as compared to the previous fiscal year: 12.31.21 12.31.20 12.31.19 Income Before Income Tax for the Year 47,622,602 69,377,872 83,825,371 Current Tax Rate 35 % 30 % 30 % Income for the Year at Tax Rate (16,667,911 ) (20,813,362 ) (25,147,611 ) Permanent Differences at Tax Rate - Income for Equity Instruments (45,204 ) (56,627 ) — - Untaxed Income 202,679 251,935 196,511 - Donations and Other Non-deductible (4,941 ) (48,328 ) (32,645 ) - Other 234,292 (4,530,586 ) (125,416 ) - Inflation effect (27,709,518 ) (19,060,769 ) (23,249,228 ) - Tax Adjustment 443,643 1,049,733 (176,309 ) - Tax inflation adjustment 27,101,964 4,369,780 2,537,212 - Tax inflation adjustment deferral — 7,684,011 11,946,153 Total Income Tax Charge for the Year (16,444,996 ) (31,154,213 ) (34,051,333 ) 12.31.21 12.31.20 12.31.19 Current Income Tax (12,966,517 ) (40,218,255 ) (31,335,461 ) Deferred Tax Charge (*) (4,264,741 ) 12,490,174 4,152,811 Update of the charge tax (832,543 ) (4,438,430 ) (6,774,834 ) Tax Return adjustment from previous fiscal year 1,618,805 1,012,298 (93,849 ) Total Income Tax Charge for the Year (16,444,996 ) (31,154,213 ) (34,051,333 ) |
Summary of Current Income Tax Liabilities | 12.31.21 12.31.20 12.31.19 Current Income Tax (12,966,517 ) (40,218,255 ) (31,335,461 ) Tax Advances 3,817,169 17,233,657 10,139,883 Current Income Tax Liabilities (9,149,348 ) (22,984,598 ) (21,195,578 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of 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. 12.31.21 12.31.20 12.31.19 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 31,094,407 37,993,605 48,718,493 Weighted Average Ordinary Shares 1,474,692 1,442,740 1,426,765 Earnings per Share 21.09 26.33 34.15 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Operating Segments | The relevant segment reporting as of the indicated dates is as follows: Bank Naranja X Insurance Other Adjustments Total as of 12.31.21 Net Income from interest 68,866,522 37,434,237 2,331,884 79,211 565,684 109,277,538 Net fee Income 31,875,806 27,713,054 — (26,882 ) (1,772,399 ) 57,789,579 Net Income from Financial Instruments measured at fair value through Profit or Loss 95,560,838 418,401 (1,511,149 ) 1,480,627 (338,882 ) 95,609,835 Income from Derecognition of Assets Measured at Amortized Cost 16,335 196 — — — 16,531 Exchange rate Differences on Gold and Foreign Currency 3,693,707 146,056 39,135 615,821 — 4,494,719 Other Operating Income 26,534,318 5,939,643 378,520 4,568,647 (1,584,895 ) 35,836,233 Income from Insurance Business — — 4,250,295 — 3,099,651 7,349,946 Expected credit loss allowance (14,491,902 ) (8,766,660 ) (4,019 ) — — (23,262,581 ) Personnel Expenses (31,173,893 ) (12,430,952 ) (1,614,772 ) (1,224,654 ) — (46,444,271 ) Administrative Expenses (32,585,600 ) (10,899,738 ) (813,493 ) (1,045,232 ) 140,529 (45,203,534 ) Depreciation and Impairment of Assets (10,822,309 ) (3,272,435 ) (363,399 ) (39,339 ) — (14,497,482 ) Other Operating Expenses (40,565,868 ) (12,787,780 ) (13,743 ) (474,002 ) 7,324 (53,834,069 ) Loss on net monetary position (64,248,964 ) (13,006,936 ) (661,091 ) (1,584,935 ) — (79,501,926 ) Operating Income 32,658,990 10,487,086 2,018,168 2,349,262 117,012 47,630,518 Share of profit from Associates and Joint Ventures 19,926 — — — (149,078 ) (129,152 ) Income before Taxes from Continuing Operations 32,678,916 10,487,086 2,018,168 2,349,262 (32,066 ) 47,501,366 Income Tax from Continuing Operations (9,823,581 ) (4,264,030 ) (832,688 ) (1,486,660 ) — (16,406,959 ) Net Income from Continuing Operations 22,855,335 6,223,056 1,185,480 862,602 (32,066 ) 31,094,407 Net Income for the Year 22,855,335 6,223,056 1,185,480 862,602 (32,066 ) 31,094,407 Other Comprehensive Income (Loss) 75,213 (317 ) 12,296 (3,993 ) — 83,199 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 22,930,548 6,222,739 1,197,776 858,609 (32,066 ) 31,177,606 Net Income for the Year Attributable to Non-controlling — — — — — — Bank Naranja X Insurance Other Adjustments Total as of 12.31.20 Net Income from interest 88,800,537 25,544,965 1,097,180 10,333 341,833 115,794,848 Net fee Income 31,667,168 25,036,545 — (9,224 ) (1,638,835 ) 55,055,654 Net Income from Financial Instruments measured at fair value through Profit or Loss 99,600,814 3,002,283 86,037 1,931,818 (1,365 ) 104,619,587 Income from Derecognition of Assets Measured at Amortized Cost (4,723 ) — — — — (4,723 ) Exchange rate Differences on Gold and Foreign Currency 9,093,880 558,967 (41,284 ) 1,025,969 — 10,637,532 Other Operating Income 25,920,591 5,244,696 761,735 3,568,573 (1,801,451 ) 33,694,144 Income from Insurance Business — — 5,110,454 — 3,027,309 8,137,763 Expected credit loss allowanc e (44,822,871 ) (8,076,538 ) 25,186 — — (52,874,223 ) Personnel Expenses (33,342,596 ) (12,196,004 ) (1,837,805 ) (660,922 ) — (48,037,327 ) Administrative Expenses (32,762,463 ) (12,457,273 ) (824,356 ) (1,099,300 ) 182,642 (46,960,750 ) Depreciation and Impairment of Assets (9,232,725 ) (2,819,842 ) (408,143 ) (43,727 ) — (12,504,437 ) Other Operating Expenses (35,991,425 ) (9,764,917 ) (6,577 ) (391,521 ) 21,825 (46,132,615 ) Loss on net monetary position (41,001,355 ) (8,198,158 ) (1,006,921 ) (1,148,014 ) — (51,354,448 ) Operating Income 57,924,832 5,874,724 2,955,506 3,183,985 131,958 70,071,005 Share of profit from Associates and Joint Ventures 46,244 — — — (235,001 ) (188,757 ) Income before Taxes from Continuing Operations 57,971,076 5,874,724 2,955,506 3,183,985 (103,043 ) 69,882,248 Income Tax from Continuing Operations (26,385,399 ) (2,615,329 ) (996,819 ) (1,376,224 ) — (31,373,771 ) Net Income from Continuing Operations 31,585,677 3,259,395 1,958,687 1,807,761 (103,043 ) 38,508,477 Net Income for the Year 31,585,677 3,259,395 1,958,687 1,807,761 (103,043 ) 38,508,477 Other Comprehensive Income (Loss) (312,174 ) 317 26,800 239 — (284,818 ) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 31,273,503 3,260,734 1,985,487 1,808,000 (618,937 ) 37,708,787 Net Income for the Year Attributable to Non-controlling — (1,022 ) — — 515,894 514,872 Bank Naranja X Insurance Other Adjustments Total as of 12.31.19 Net Income from interest 48,968,694 20,027,327 1,727,691 108,825 740,021 71,572,558 Net fee Income 32,845,065 26,678,156 — 746 (1,814,095 ) 57,709,872 Net Income from Financial Instruments measured at fair value through Profit or Loss 143,624,715 5,290,885 147,162 598,126 — 149,660,888 Income from Derecognition of Assets Measured at Amortized Cost 451,016 — — — — 451,016 Exchange rate Differences on Gold and Foreign Currency 17,054,670 250,412 (5,686 ) 559,190 — 17,858,586 Other Operating Income 35,813,489 7,429,326 917,965 1,748,021 (2,379,132 ) 43,529,669 Income from Insurance Business — — 3,665,408 — 3,606,808 7,272,216 Expected credit loss allowance (33,207,820 ) (12,209,221 ) 135,209 — — (45,281,832 ) Personnel Expenses (36,684,273 ) (11,386,896 ) (1,674,014 ) (495,680 ) — (50,240,863 ) Administrative Expenses (36,397,335 ) (12,449,362 ) (902,506 ) (656,529 ) 263,458 (50,142,274 ) Depreciation and Impairment of Assets (7,579,792 ) (2,352,147 ) (439,888 ) (35,513 ) — (10,407,340 ) Other Operating Expenses (43,102,101 ) (9,627,485 ) (756 ) (238,248 ) 14,011 (52,954,579 ) Loss on net monetary position (44,775,465 ) (9,065,986 ) (1,432,184 ) (1,239,700 ) — (56,513,335 ) Operating Income 77,010,863 2,585,009 2,138,401 349,238 431,071 82,514,582 Share of profit from Associates and Joint Ventures 118,103 — — — (118,103 ) — Income before Taxes from Continuing Operations 77,128,966 2,585,009 2,138,401 349,238 312,968 82,514,582 Income Tax from Continuing Operations (31,338,764 ) (1,242,790 ) (835,974 ) (150,476 ) — (33,568,004 ) Net Income from Continuing Operations 45,790,202 1,342,219 1,302,427 198,762 312,968 48,946,578 Net Income for the Year 45,790,202 1,342,219 1,302,427 198,762 312,968 48,946,578 Other Comprehensive Income (Loss) 849,481 — (22,021 ) — — 827,460 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 46,639,683 1,341,674 1,280,406 198,762 85,428 49,545,953 Net Income for the Year Attributable to Non-controlling — 545 — — 227,540 228,085 Bank Naranja X Insurance Other Adjustments Total as of 12.31.21 ASSETS Cash and Due from Banks 231,726,182 5,463,828 53,530 4,473,968 (4,290,665 ) 237,426,843 Debt Securities at fair value through profit or loss 236,287,343 208,276 36,976 29,408 (625,105 ) 235,936,898 Derivative Financial Instruments 1,585,960 — — — (338,882 ) 1,247,078 Repurchase Transactions 203,165,504 39,953 — — — 203,205,457 Other Financial Assets 17,832,351 2,468,949 434,838 2,635,788 — 23,371,926 Loans and Other Financing 575,585,892 175,549,628 7,403 2,552,902 (9,262,123 ) 744,433,702 Other Debt Securities 92,235,283 3,012 2,244,297 — (125,593 ) 94,356,999 Financial Assets Pledged as Collateral 34,926,900 16,564 — 292,204 — 35,235,668 Current Income Tax Assets — — 62,374 14,007 — 76,381 Investments in Equity Instruments 1,251,928 — — 6 — 1,251,934 Equity Investments in Associates and Joint Ventures 600,775 — — — (431,428 ) 169,347 Property, Plant and Equipment 54,881,411 6,313,146 907,462 94,005 — 62,196,024 Intangible Assets 19,041,320 2,084,058 49,833 6,735,316 (6,679,085 ) 21,231,442 Deferred Income Tax Assets — 3,516,571 388,570 381,254 — 4,286,395 Assets for Insurance Contracts — — 3,217,517 — — 3,217,517 Other Non-financial 6,359,559 2,042,676 98,013 1,898,539 — 10,398,787 Non-current 657 — — — — 657 TOTAL ASSETS 1,475,481,065 197,706,661 7,500,813 19,107,397 (21,752,881 ) 1,678,043,055 LIABILITIES Deposits 1,040,723,530 27,043 — — (4,792,644 ) 1,035,957,929 Liabilities at Fair Value Through Profit or Loss — — — 75,674 — 75,674 Derivative Financial Instruments 712,129 338,882 — — (338,882 ) 712,129 Repurchase Transactions 324,119 — — — — 324,119 Other Financial Liabilities 94,983,619 96,273,604 — 4,504,207 (102,262 ) 195,659,168 Financing Received from the Argentine Central Bank and Other Financial Institutions 8,949,710 23,389,635 — — (8,628,641 ) 23,710,704 Debt Securities 7,346,442 21,376,032 — — (750,698 ) 27,971,776 Current Income Tax Liabilities 5,185,675 3,478,634 214,130 780,379 — 9,658,818 Subordinated Debt Securities 26,275,536 — — — — 26,275,536 Provisions 4,036,523 163,559 155,292 26,225 — 4,381,599 Deferred Income Tax Liabilities 4,793,600 — 255,511 381,483 — 5,430,594 Liabilities for Insurance Contracts — — 3,191,514 — (885 ) 3,190,629 Other Non-financial 30,056,744 7,850,368 952,610 1,393,789 (28,356 ) 40,225,155 TOTAL LIABILITIES 1,223,387,627 152,897,757 4,769,057 7,161,757 (14,642,368 ) 1,373,573,830 Bank Naranja X Insurance Other Adjustments Total as of 12.31.20 ASSETS Cash and Due from Banks 260,085,728 3,303,721 59,791 3,439,777 (2,101,957 ) 264,787,060 Debt Securities at fair value through profit or loss 235,306,384 138,507 — 262,337 (1,114,405 ) 234,592,823 Derivative Financial Instruments 3,267,935 — — — — 3,267,935 Repurchase Transactions 92,067,820 — — — — 92,067,820 Other Financial Assets 10,445,570 1,935,002 1,230,331 1,627,085 (2,504 ) 15,235,484 Loans and Other Financing 663,096,109 133,652,457 714,203 2,209,417 (5,063,927 ) 794,608,259 Other Debt Securities 32,375,095 263,327 2,441,973 — (257,591 ) 34,822,804 Financial Assets Pledged as Collateral 28,135,063 13,775 — 103,576 — 28,252,414 Current Income Tax Assets — 54,704 242,793 — — 297,497 Investments in Equity Instruments 8,618,111 — — 3,198 — 8,621,309 Equity Investments in Associates and Joint Ventures 725,320 — — — (590,768 ) 134,552 Property, Plant and Equipment 57,644,137 7,334,422 976,121 54,234 — 66,008,914 Intangible Assets 19,396,092 2,315,446 110,814 6,696,209 (6,679,084 ) 21,839,477 Deferred Income Tax Assets 8,000,987 5,471,788 266,626 166,248 — 13,905,649 Assets for Insurance Contracts — — 2,846,664 — (826 ) 2,845,838 Other Non-financial 8,728,364 1,094,529 41,316 1,659,310 — 11,523,519 Non-current 44,268 — — — — 44,268 TOTAL ASSETS 1,427,936,983 155,577,678 8,930,632 16,221,391 (15,811,062 ) 1,592,855,622 LIABILITIES — Deposits 1,023,463,093 9 — — (2,576,616 ) 1,020,886,486 Derivative Financial Instruments 86,716 — — — — 86,716 Other Financial Liabilities 61,765,321 83,506,934 — 3,181,178 (1,281,591 ) 147,171,842 Financing Received from the Argentine Central Bank and Other Financial Institutions 15,384,243 8,746,648 — 2 (3,250,474 ) 20,880,419 Debt Securities 11,930,540 15,213,077 — — (1,371,996 ) 25,771,621 Current Income Tax Liabilities 19,668,582 1,795,866 673,483 846,667 — 22,984,598 Subordinated Debt Securities 32,684,216 — — — — 32,684,216 Provisions 5,181,417 218,953 205,296 94,338 — 5,700,004 Deferred Income Tax Liabilities — — — 206,686 — 206,686 Liabilities for Insurance Contracts — — 3,110,906 — (35 ) 3,110,871 Other Non-financial 28,611,554 7,510,035 1,035,550 1,058,004 (60,499 ) 38,154,644 TOTAL LIABILITIES 1,198,775,682 116,991,522 5,025,235 5,386,875 (8,541,211 ) 1,317,638,103 |
Capital Management and Risk P_2
Capital Management and Risk Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021, and December 31, 2020, is as follows: 12.31.21 12.31.20 Basic Shareholders’ Equity 257,700,315 162,178,965 (Deductible Items) (35,563,896 ) (32,594,504 ) Equity Tier 1 222,136,419 129,584,461 Complementing shareholders’ Equity 29,006,025 27,477,066 Equity Tier 2 29,006,025 27,477,066 Regulatory Capital (RPC) 251,142,444 157,061,527 |
Summary of Breakdown of Minimum Capital Requirement | The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.21 12.31.20 Credit Risk 63,920,141 42,457,859 Market Risk 1,133,653 1,419,264 Operational Risk 20,190,530 12,192,078 Minimum Capital Requirement 85,244,324 56,069,201 Integration 251,142,444 157,061,527 Excess 165,898,119 100,992,326 |
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 Balances as of 12.31.21 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 250,862 (248,914 ) (1,291 ) 656 Euro 2,943 (623 ) — 2,320 Canadian Dollar 32 (4 ) — 27 Real 39 — — 39 Swiss Franc 89 (32 ) — 57 Others 85 (14 ) — 71 Total 254,049 (249,587 ) (1,291 ) 3,170 Balances as of 12.31.20 Currency Monetary Financial Assets Monetary Financial Liabilities Derivatives Net Position US Dollar 320,180 (318,396 ) — 1,784 Euro 6,643 (1,211 ) — 5,432 Canadian Dollar 202 (6 ) — 196 Real 51 — — 51 Swiss Franc 78 (45 ) — 33 Others 155 (5 ) — 150 Total 327,309 (319,663 ) — 7,646 Balances as of 12.31.21 Balances as of 12.31.20 Currency Change Income (Loss) Shareholders’ Equity Income (Loss) Shareholders’ Equity US Dollar 10 % 66 722 178 1,962 -10 % (66 ) 590 (178 ) 5,254 Euro 10 % 232 2,552 543 739 -10 % (232 ) 2,088 (543 ) (492 ) Canadian Dollar 10 % 3 30 20 53 -10 % (3 ) 24 (20 ) 130 Real 10 % 4 43 5 7,651 -10 % (4 ) 35 (5 ) (5 ) Swiss Franc 10 % 6 63 3 3 -10 % (6 ) 51 (3 ) (3 ) Others 10 % 7 78 15 15 -10 % (7 ) 64 (15 ) (15 ) |
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 90 From 90 to From 180 to More than Total As of 12.31.21 Total Financial Assets 625,405,963 116,802,086 106,308,391 154,697,504 524,232,048 1,527,445,992 Total Financial Liabilities 818,306,924 96,462,632 38,475,450 24,267,311 343,024,022 1,320,536,340 Net Amount (192,900,961 ) 20,339,454 67,832,940 130,430,193 181,208,026 206,909,652 As of 12.31.20 Total Financial Assets 497,444,834 122,335,699 110,798,069 184,197,811 500,497,440 1,415,273,853 Total Financial Liabilities 793,761,624 100,561,675 26,336,068 13,174,729 308,649,837 1,242,483,933 Net Amount (296,316,790 ) 21,774,024 84,462,001 171,023,082 191,847,603 172,789,920 |
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, 2021. The percentage change budgeted by the Group for fiscal year 2021 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 bp (3,543,296 ) -1.7 % Increase in Interest Rate 100 3,543,296 1.7 % |
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, 2021, and December 31, 2020, based on undiscounted cash flows: Less than 1 1 to 6 Months 6 to 12 12 Months to More than 5 Total as of Assets Debt Securities measured at Fair Value through Profit or Loss 235,715,852 289,004 585,835 921,601 — 237,512,292 Derivative Financial Instruments 1,247,078 — — — — 1,247,078 Repurchase Transactions 206,318,139 — — — — 206,318,139 Other Financial Assets 20,422,842 123,048 149,125 3,444,877 — 24,139,892 Loans and Other Financing 268,278,512 279,743,611 180,218,971 116,216,349 37,370,356 881,827,799 Other Debt Securities 97,602,616 304,390 229,445 724,771 — 98,861,222 Financial Assets Pledged as Collateral 35,235,668 — — — — 35,235,668 Investments in Equity Instruments 1,251,934 — — — — 1,251,934 Liabilities Deposits 981,068,287 64,008,739 3,074,261 112,674 22 1,048,263,983 Liabilities at fair value through profit or loss 75,674 — — — — 75,674 Derivative Financial Instruments 712,129 — — — — 712,129 Other Financial Liabilities 130,748,187 60,319,962 177,971 26,415 5,032 191,277,568 Lease liabilities 114,368 570,091 644,172 3,769,889 609,978 5,708,499 Financing Received from the Argentine Central Bank and Other Financial Institutions 5,200,022 4,623,289 15,913,726 3,979,210 — 29,716,247 Debt Securities 1,519,011 15,230,169 9,487,019 6,395,177 — 32,631,376 Subordinated Debt Securities 996,044 — 996,044 33,323,071 — 35,315,159 Less than 1 Month 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 230,532,971 851,483 4,800,940 652,403 — 236,837,797 Derivative Financial Instruments 827,053 — — — — 827,053 Repurchase Transactions 93,249,485 — — — — 93,249,485 Other Financial Assets 11,588,748 152,157 184,402 4,627,615 — 16,552,922 Loans and Other Financing 250,068,562 308,413,869 204,441,783 141,230,251 46,100,820 950,255,285 Other Debt Securities 38,345,187 — — — — 38,345,187 Financial Assets Pledged as Collateral 28,252,414 — — — — 28,252,414 Investments in Equity Instruments 5,654,112 — — — — 5,654,112 Liabilities Deposits 960,889,687 67,935,172 3,870,033 184,718 41 1,032,879,651 Derivative Financial Instruments 86,716 — — — — 86,716 Other Financial Liabilities 140,382,359 36,949 41,420 121,508 — 140,582,236 Lease Liabilities 233,741 1,094,126 1,200,436 5,585,434 2,077,061 10,190,798 Financing Received from the Argentine Central Bank and Other Financial Institutions 3,936,538 4,967,332 9,264,337 5,640,484 — 23,808,691 Debt Securities 1,111,592 9,292,808 12,158,857 9,583,666 — 32,146,923 Subordinated Debt Securities 1,291,846 — 1,291,846 11,410,759 33,013,113 47,007,564 |
Schedule of Credit Quality of Debt Securities | The credit quality of debt securities as of December 31, 2021, 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 12.31.21 AAA 9,650,279 — 37 39,049,777 — 609,936 49,310,029 AA+ — — 52,845 — — 820,093 872,938 AA 5,617 — — 31,359 — 10,892 47,868 AA- — — — — — 1,623 1,623 A+ — — — — — 8,635 8,635 A1 — — — — — 38,957 38,957 A1+ — — 1,266,148 — — 510,849 1,776,997 A — — — — — 367,434 367,434 A2 — 244,653 — — — 1,314 245,967 A- — — — — — 39,096 39,096 A3 — 630,013 — — — — 630,013 Baa1 — — 94,832 — — — 94,832 BBB- — 641,844 — — — — 641,844 Baa3 — — — — — 34,356 34,356 B1 — 143,271 — — — — 143,271 B — 68,027 — — — — 68,027 BB- — — — — — 1,872 1,872 CCC 25,517 — — — — — 25,517 C — — — — 181,567,431 20,191 181,587,622 Total 9,681,413 1,727,808 1,413,862 39,081,136 181,567,431 2,465,248 235,936,898 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 3,524,914 — — 25,607,172 — 1,061,755 30,193,841 AA+ — — 136,148 — — 447 136,595 AA — — — — — 85,738 85,738 Aa2 — — — — — 48,642 48,642 AA- 71,913 — — — — 1,350,297 1,422,210 A+ — — — — — 1,906 1,906 A1 — — — — — 272,726 272,726 A1+ — — — — — 1,239,099 1,239,099 A — — — — — 32,424 32,424 A2 — — — — — 163 163 A- — — — — — 61,290 61,290 A3 — 303,042 — — — — 303,042 Baa1 — — 1,509 — — 44,114 45,623 Baa3 — — — — — 20,065 20,065 B — 814,136 — — — — 814,136 CCC 6,193,784 — — — — — 6,193,784 C — — — — 193,695,730 25,809 193,721,539 Total 9,790,611 1,117,178 137,657 25,607,172 193,695,730 4,244,475 234,592,823 |
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 - 2022 (*) QII - 2022 (*) QIII - 2022 (*) QIV - 2022 (*) GDP Base 1.8 % 2.3 % 0.5 % 1.5 % Optimistic 7.0 % 10.7 % 8.0 % 9.6 % Pessimistic 1.7 % -1.0 % -4.1 % -3.6 % Unemployment Rate Base 0.3 % 7.8 % 25.5 % 9.4 % Optimistic -10.5 % -3.7 % 12.2 % -2.5 % Pessimistic 4.8 % 19.1 % 75.6 % 80.9 % Real Salary Base -5.4 % -5.9 % -5.2 % -4.1 % Optimistic -4.9 % -5.1 % -4.6 % -0.6 % Pessimistic 0.4 % -7.7 % -11.8 % -9.0 % Badlar rate Base 17.4 % 8.4 % -0.5 % 0.0 % Optimistic 17.4 % -0.3 % -6.3 % -11.8 % Pessimistic 61.4 % 58.3 % 66.9 % 76.5 % Consumer Price Index (CPI) Base 54.9 % 59.6 % 60.1 % 59.0 % Optimistic 53.2 % 50.5 % 48.0 % 42.8 % Pessimistic 53.2 % 72.6 % 83.2 % 86.8 % (*) |
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 47,598,980 48,122,889 Retail, Retail like and Wholesale ECL 37,966,376 38,490,285 Naranja ECL 9,632,604 9,632,604 Scenario 2 (change in forecast PIB, inflation, nominal Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP 0 % 0 % 0 % Unemployment Rate 3 % 1 % 4 % Real Salary -4 % -2 % -5 % Badlar 25 % 10 % 60 % CPI 5 % 1 % 7 % Grupo Financiero Galicia ECL 48,411,267 Retail, Retail like and Wholesale RCL 38,778,663 Naranja ECL 9,632,604 |
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, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 164,463,861 55,177,137 3,016,889 222,657,887 246,123,597 1-30 2,575,652 2,891,093 622,662 6,089,407 6,116,789 31-60 — 1,772,673 457,533 2,230,206 1,579,343 61-90 — 900,444 653,838 1,554,282 990,348 Default — — 14,109,155 14,109,155 8,387,786 Gross Carrying amount 167,039,513 60,741,347 18,860,077 246,640,937 263,197,863 Loss allowance (5,845,144 ) (10,017,080 ) (15,360,846 ) (31,223,070 ) (35,435,411 ) Net Carrying amount 161,194,369 50,724,267 3,499,231 215,417,867 227,762,452 Retail like Portfolio December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 153,539,137 16,028,249 1,080,971 170,648,357 177,992,701 1-30 1,105,602 527,137 206,494 1,839,233 2,609,761 31-60 — 303,433 84,077 387,510 326,718 61-90 — 140,381 124,317 264,698 91,932 Default — — 2,227,308 2,227,308 1,792,207 Gross Carrying amount 154,644,739 16,999,200 3,723,167 175,367,106 182,813,319 Loss allowance (257,780 ) (1,361,307 ) (2,609,419 ) (4,228,506 ) (6,825,303 ) Net Carrying amount 154,386,959 15,637,893 1,113,748 171,138,600 175,988,016 Wholesale Portfolio December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 496,694,594 17,137,832 — 513,832,426 417,049,373 B1 — 214,556 — 214,556 1,512,813 Default — — 730,084 730,084 1,201,703 Gross Carrying amount 496,694,594 17,352,388 730,084 514,777,066 419,763,889 Loss allowance (1,465,190 ) (319,928 ) (729,682 ) (2,514,800 ) (4,814,466 ) Net Carrying amount 495,229,404 17,032,460 402 512,262,266 414,949,423 Naranja X December 31, 2021 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 167,268,847 1,799,598 286,947 169,355,392 131,704,894 1-30 7,552,511 443,058 83,720 8,079,289 5,304,089 31-60 — 2,375,093 50,284 2,425,377 1,359,887 61-90 — 1,226,601 42,995 1,269,596 609,131 Default — — 3,966,855 3,966,855 2,980,850 Gross Carrying amount 174,821,358 5,844,350 4,430,801 185,096,509 141,958,851 Loss allowance (5,677,757 ) (1,257,400 ) (2,697,447 ) (9,632,604 ) (9,275,787 ) Net Carrying amount 169,143,601 4,586,950 1,733,354 175,463,905 132,683,064 Retail Portfolio December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 174,398,931 71,724,666 — 246,123,597 222,499,714 1-30 2,080,249 1,757,767 2,278,773 6,116,789 6,715,330 31-60 — 1,505,887 73,456 1,579,343 2,928,809 61-90 — 847,358 142,990 990,348 1,650,575 Default — — 8,387,786 8,387,786 8,798,486 Gross Carrying amount 176,479,180 75,835,678 10,883,005 263,197,863 242,592,914 Loss allowance (7,478,003 ) (19,060,985 ) (8,896,423 ) (35,435,411 ) (21,583,240 ) Net Carrying amount 169,001,177 56,774,693 1,986,582 227,762,452 221,009,674 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 0 158,187,579 18,354,315 1,450,807 177,992,701 77,754,290 1-30 1,462,383 818,265 329,113 2,609,761 4,120,016 31-60 — 316,890 9,828 326,718 460,503 61-90 — 67,955 23,977 91,932 657,546 Default — — 1,792,207 1,792,207 5,008,440 Gross Carrying amount 159,649,962 19,557,425 3,605,932 182,813,319 88,000,795 Loss allowance (844,073 ) (3,216,373 ) (2,764,857 ) (6,825,303 ) (6,193,587 ) Net Carrying amount 158,805,889 16,341,052 841,075 175,988,016 81,807,208 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 398,096,545 18,952,828 — 417,049,373 435,225,887 B1 — 1,512,813 — 1,512,813 776,177 Default — — 1,201,703 1,201,703 10,020,955 Gross Carrying amount 398,096,545 20,465,641 1,201,703 419,763,889 446,023,019 Loss allowance (2,958,029 ) (940,522 ) (915,915 ) (4,814,466 ) (10,711,793 ) Net Carrying amount 395,138,516 19,525,119 285,788 414,949,423 435,311,226 Naranja X December 31, 2020 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 129,793,001 1,514,657 397,236 131,704,894 93,346,349 1-30 4,878,423 341,066 84,600 5,304,089 5,513,282 31-60 — 1,287,654 72,233 1,359,887 2,657,374 61-90 — 563,323 45,808 609,131 1,387,796 Default — — 2,980,850 2,980,850 11,467,622 Gross Carrying amount 134,671,424 3,706,700 3,580,727 141,958,851 114,372,423 Loss allowance (5,596,374 ) (889,280 ) (2,790,133 ) (9,275,787 ) (15,233,581 ) Net Carrying amount 129,075,050 2,817,420 790,594 132,683,064 99,138,842 |
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 Net Gross Carrying Collateral´s Fair Advances 53,152,720 (269,126 ) 52,883,594 — Mortgage Loans 18,419,566 (5,814,164 ) 12,605,402 42,157,782 Pledge Loans 16,220,243 (29,447 ) 16,190,796 20,557,070 Personal Loans 65,896,440 (11,901,830 ) 53,994,610 — Credit Card Loans 367,957,854 (17,344,564 ) 350,613,290 — Financial Leases 1,114,408 (455 ) 1,113,953 — Documents 194,471,663 (813,421 ) 193,658,242 — Pre-financing 17,181,120 — 17,181,120 — Others 387,467,604 (11,425,973 ) 376,041,631 79,131,320 Total as of December 31, 2021 1,121,881,618 (47,598,980 ) 1,074,282,638 141,846,172 |
Summary of Mortgage Portfolio LTV Distribution | The following table shows information about the mortgage portfolio LTV distribution. Mortgages Portfolio -LTV Exposure Lower than 50% 614 50 to 60% 152 60 to 70% 377 70 to 80% 118 80 to 90% 137 90 to 100% 1,984 Higher than 100% 41,663 Total 45,045 |
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 credit- impaired Total Loss Allowance as of December 31, 2020 7,478,003 19,060,985 8,896,423 — 35,435,411 Inflation effect (2,787,886 ) (6,885,567 ) (3,696,569 ) — (13,370,022 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (513,633 ) 513,633 — — — Transfer from Stage 1 to Stage 3 (184,412 ) — 184,412 — — Transfer from Stage 2 to Stage 1 720,872 (720,872 ) — — — Transfer from Stage 2 to Stage 3 — (562,323 ) 562,323 — — Transfer from Stage 3 to Stage 1 241,423 — (241,423 ) — — Transfer from Stage 3 to Stage 2 — 462,938 (462,938 ) — — New Financial Assets Originated or Purchased 2,115,543 1,201,186 8,362,628 — 11,679,357 Changes in PDs/LGDs/EADs 386,505 431,115 (1,067,616 ) — (249,996 ) Foreign exchange and other movements (1,028,066 ) (2,657,874 ) 5,159,798 — 1,473,858 Other movements with no P&L impact Write-offs and other movements (583,205 ) (826,141 ) (2,336,192 ) — (3,745,538 ) Loss Allowance as of December 31, 2021 5,845,144 10,017,080 15,360,846 — 31,223,070 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2020 844,073 3,216,373 2,764,857 — 6,825,303 Inflation effect (279,331 ) (1,056,263 ) (877,072 ) — (2,212,666 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (37,773 ) 37,773 — — — Transfer from Stage 1 to Stage 3 (11,610 ) — 11,610 — — Transfer from Stage 2 to Stage 1 45,554 (45,554 ) — — — Transfer from Stage 2 to Stage 3 — (44,351 ) 44,351 — — Transfer from Stage 3 to Stage 1 68,817 — (68,817 ) — — Transfer from Stage 3 to Stage 2 — 46,976 (46,976 ) — — New Financial Assets Originated or Purchased 123,983 39,082 1,828,176 — 1,991,241 Changes in PDs/LGDs/EADs (190,122 ) (135,997 ) (229,876 ) — (555,995 ) Foreign exchange and other movements (1,367 ) (545,556 ) 39,249 — (507,674 ) Other movements with no P&L impact Write-offs and other movements (304,444 ) (151,176 ) (856,083 ) — (1,311,703 ) Loss Allowance as of December 31, 2021 257,780 1,361,307 2,609,419 — 4,228,506 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2020 2,958,029 940,522 915,915 — 4,814,466 Inflation effect (905,825 ) (297,224 ) (263,055 ) — (1,466,104 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (21,319 ) 21,319 — — — Transfer from Stage 1 to Stage 3 — — — — — Transfer from Stage 2 to Stage 1 139,769 (139,769 ) — — — Transfer from Stage 2 to Stage 3 — (308,394 ) 308,394 — — Transfer from Stage 3 to Stage 1 — — — — — Transfer from Stage 3 to Stage 2 — — — — — New Financial Assets Originated or Purchased 754,252 182,285 258 — 936,795 Changes in PDs/LGDs/EADs 435,273 11,066 (39,407 ) — 406,932 Foreign exchange and other movements (1,391,414 ) (22,218 ) 302,882 — (1,110,750 ) Other movements with no P&L impact Write-offs and other movements (503,575 ) (67,659 ) (495,305 ) — (1,066,539 ) Loss Allowance as of December 31, 2021 1,465,190 319,928 729,682 — 2,514,800 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2020 5,596,374 889,280 2,790,133 — 9,275,787 Inflation effect (2,144,516 ) (356,771 ) (1,063,167 ) — (3,564,454 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (84,126 ) 84,126 — — — Transfer from Stage 1 to Stage 3 (134,853 ) — 134,853 — — Transfer from Stage 2 to Stage 1 222,556 (222,556 ) — — — Transfer from Stage 2 to Stage 3 — (100,874 ) 100,874 — — Transfer from Stage 3 to Stage 1 171,095 — (171,095 ) — — Transfer from Stage 3 to Stage 2 — 10,657 (10,657 ) — — New Financial Assets Originated or Purchased 3,794,799 1,367,217 2,810,850 — 7,972,866 Changes in PDs/LGDs/EADs (1,077,581 ) (135,324 ) (294,531 ) — (1,507,436 ) Foreign exchange and other movements (90,131 ) (18,046 ) (38,894 ) — (147,071 ) Other movements with no P&L impact Write-offs and other movements (575,860 ) (260,309 ) (1,560,919 ) — (2,397,088 ) Loss Allowance as of December 31, 2021 5,677,757 1,257,400 2,697,447 — 9,632,604 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2019 8,322,959 3,855,946 9,404,335 — 21,583,240 Inflation effect (2,933,721 ) (2,869,728 ) (3,358,166 ) — (9,161,615 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (752,418 ) 752,418 — — — Transfer from Stage 1 to Stage 3 (178,419 ) — 178,419 — — Transfer from Stage 2 to Stage 1 584,921 (584,921 ) — — — Transfer from Stage 2 to Stage 3 — (507,260 ) 507,260 — — Transfer from Stage 3 to Stage 1 300,366 — (300,366 ) — — Transfer from Stage 3 to Stage 2 — 544,999 (544,999 ) — — New Financial Assets Originated or Purchased 2,092,341 1,177,829 3,128,644 — 6,398,814 Changes in PDs/LGDs/EADs 3,638,483 16,973,151 4,163,880 — 24,775,514 Foreign exchange and o ther movements (2,033,308 ) 799,390 830,882 — (403,036 ) Other movements with no P&L impact Write-offs and other movements (1,563,201 ) (1,080,839 ) (5,113,466 ) — (7,757,506 ) Loss Allowance as of December 31, 2020 7,478,003 19,060,985 8,896,423 — 35,435,411 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2019 725,219 301,080 5,167,288 — 6,193,587 Inflation effect (242,606 ) (270,782 ) (1,535,798 ) — (2,049,186 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (54,674 ) 54,674 — — — Transfer from Stage 1 to Stage 3 (5,135 ) — 5,135 — — Transfer from Stage 2 to Stage 1 44,319 (44,319 ) — — — Transfer from Stage 2 to Stage 3 — (13,277 ) 13,277 — — Transfer from Stage 3 to Stage 1 (25,909 ) — 25,909 — — Transfer from Stage 3 to Stage 2 — 109,098 (109,098 ) — — New Financial Assets Originated or Purchased 723,054 235,301 1,961,088 — 2,919,443 Changes in PDs/LGDs/EADs (1,699,225 ) 2,606,638 1,000,788 — 1,908,201 Foreign exchange a nd o ther movements 1,742,202 645,777 (29,693 ) — 2,358,286 Other movements with no P&L impact Write-offs and other movements (363,172 ) (407,817 ) (3,734,039 ) — (4,505,028 ) Loss Allowance as of December 31, 2020 844,073 3,216,373 2,764,857 — 6,825,303 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2019 1,024,895 454,660 9,232,238 — 10,711,793 Inflation effect 45,359 (19,767 ) (2,352,551 ) — (2,326,959 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (91,161 ) 91,161 — — — Transfer from Stage 1 to Stage 3 (20 ) — 20 — — Transfer from Stage 2 to Stage 1 8,081 (8,081 ) — — — Transfer from Stage 2 to Stage 3 — (25,758 ) 25,758 — — Transfer from Stage 3 to Stage 1 — — — — — Transfer from Stage 3 to Stage 2 — — — — — New Financial Assets Originated or Purchased 913,669 160,383 75,317 — 1,149,369 Changes in PDs/LGDs/EADs 2,770,541 623,523 1,366,207 — 4,760,271 Foreign exchange and ther movements 163,993 112,052 (24,285 ) — 251,760 Other movements with no P&L impact Write-offs and other movements (1,877,328 ) (447,651 ) (7,406,789 ) — (9,731,768 ) Loss Allowance as of December 31, 2020 2,958,029 940,522 915,915 — 4,814,466 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2019 4,157,813 1,446,970 9,628,798 — 15,233,581 Inflation effect (1,452,514 ) (439,541 ) (2,729,989 ) — (4,622,044 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (108,936 ) 108,936 — — — Transfer from Stage 1 to Stage 3 (219,966 ) — 219,966 — — Transfer from Stage 2 to Stage 1 — (233,987 ) 233,987 — — Transfer from Stage 2 to Stage 3 262,561 (262,561 ) — — — Transfer from Stage 3 to Stage 1 163,580 — (163,580 ) — — Transfer from Stage 3 to Stage 2 — 20,495 (20,495 ) — — New Financial Assets Originated or Purchased 4,408,653 374,335 399,731 — 5,182,719 Changes in PDs/LGDs/EADs 439,257 124,204 441,990 — 1,005,451 Foreign exchange and other movements — — — — — Other movements with no P&L impact Write-offs and other movements (2,054,074 ) (249,571 ) (5,220,275 ) — (7,523,920 ) Loss Allowance as of December 31, 2020 5,596,374 889,280 2,790,133 — 9,275,787 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2018 7,275,015 6,483,463 7,160,474 — 20,918,952 Inflation effect (2,695,552 ) (2,075,221 ) (2,764,446 ) — (7,535,219 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (1,113,052 ) 1,113,052 — — — Transfer from Stage 1 to Stage 3 (114,897 ) — 114,897 — — Transfer from Stage 2 to Stage 1 950,844 (950,844 ) — — — Transfer from Stage 2 to Stage 3 — (685,964 ) 685,964 — — Transfer from Stage 3 to Stage 1 43,554 — (43,554 ) — — Transfer from Stage 3 to Stage 2 — 71,218 (71,218 ) — — New Financial Assets Originated or Purchased 2,568,784 1,504,429 6,262,382 — 10,335,595 Changes in PDs/LGDs/EADs 2,074,567 1,081,985 488,119 — 3,644,671 Foreign exchange and other movements 315,099 (318,922 ) 175,500 — 171,677 Other movements with no P&L impact Write-offs and other movements (981,403 ) (2,367,250 ) (2,603,783 ) — (5,952,436 ) Loss Allowance as of December 31, 2019 8,322,959 3,855,946 9,404,335 — 21,583,240 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2018 746,808 783,682 3,300,336 — 4,830,826 Inflation effect (304,907 ) (252,319 ) (1,636,048 ) — (2,193,274 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (51,028 ) 51,028 — — — Transfer from Stage 1 to Stage 3 (2,951 ) — 2,951 — — Transfer from Stage 2 to Stage 1 34,880 (34,880 ) — — — Transfer from Stage 2 to Stage 3 — (60,098 ) 60,098 — — Transfer from Stage 3 to Stage 1 2,415 — (2,415 ) — — Transfer from Stage 3 to Stage 2 — 19,146 (19,146 ) — — New Financial Assets Originated or Purchased 638,257 201,052 5,135,529 — 5,974,838 Changes in PDs/LGDs/EADs 1,170,734 75,504 759,191 — 2,005,429 Foreign exchange and other movements (1,106,394 ) (31,995 ) 180,897 — (957,492 ) Other movements with no P&L impact Write-offs and other movements (402,595 ) (450,040 ) (2,614,105 ) — (3,466,740 ) Loss Allowance as of December 31, 2019 725,219 301,080 5,167,288 — 6,193,587 Wholesale Portfolio Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2018 1,470,854 216,433 1,868,037 — 3,555,324 Inflation effect (591,512 ) (146,644 ) (2,306,944 ) — (3,045,100 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (58,239 ) 58,239 — — — Transfer from Stage 1 to Stage 3 (119 ) — 119 — — Transfer from Stage 2 to Stage 1 128,191 (128,191 ) — — — Transfer from Stage 2 to Stage 3 — (2,110 ) 2,110 — — Transfer from Stage 3 to Stage 1 4 — (4 ) — — Transfer from Stage 3 to Stage 2 — 85,277 (85,277 ) — — New Financial Assets Originated or Purchased 1,127,597 235,990 538,810 — 1,902,397 Changes in PDs/LGDs/EADs (150,815 ) 303,422 33,333 — 185,940 Foreign exchange and other movements (251,024 ) (11,664 ) 9,489,490 — 9,226,802 Other movements with no P&L impact Write-offs and other movements (650,042 ) (156,092 ) (307,436 ) — (1,113,570 ) Loss Allowance as of December 31, 2019 1,024,895 454,660 9,232,238 — 10,711,793 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Purchased credit- impaired Total Loss Allowance as of December 31, 2018 3,851,123 5,154,884 5,841,643 — 14,847,650 Inflation effect (1,469,779 ) (1,524,158 ) (2,586,948 ) — (5,580,885 ) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (104,906 ) 104,906 — — — Transfer from Stage 1 to Stage 3 (220,440 ) — 220,440 — — Transfer from Stage 2 to Stage 1 1,398,405 (1,398,405 ) — — — Transfer from Stage 2 to Stage 3 — (1,398,549 ) 1,398,549 — — Transfer from Stage 3 to Stage 1 19,559 — (19,559 ) — — Transfer from Stage 3 to Stage 2 — 5,686 (5,686 ) — — New Financial Assets Originated or Purchased 630,542 2,316,457 7,620,900 — 10,567,899 Changes in PDs/LGDs/EADs 451,231 (885,019 ) 1,046,067 — 612,279 Foreign exchange and other mo vements — — — — — Other movements with no P&L impact Write-offs and other movements (397,922 ) (928,832 ) (3,886,608 ) — (5,213,362 ) Loss Allowance as of December 31, 2019 4,157,813 1,446,970 9,628,798 — 15,233,581 The following table further explains changes in the gross carrying amount of specific segment portfolio to help explain their significance to the changes in the loss allowance: Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2020 176,479,180 75,835,678 10,883,005 — 263,197,863 Transfers: Transfers from Stage 1 to Stage 2 (12,502,238 ) 12,502,238 — — — Transfers from Stage 1 to Stage 3 (3,676,093 ) — 3,676,093 — — Transfers from Stage 2 to stage 1 12,336,328 (12,336,328 ) — — — Transfers from Stage 2 to Stage 3 — (5,139,767 ) 5,139,767 — — Transfers from Stage 3 to Stage 2 — 627,535 (627,535 ) — — Transfers from Stage 3 to Stage 1 331,193 — (331,193 ) — — Financial assets derecognized during the period other than write-offs (15,445,294 ) (8,175,653 ) (3,417,354 ) — (27,038,301 ) New financial assets originated or purchased 46,620,123 19,185,358 9,215,318 — 75,020,799 Foreign exchange and other movements 23,631,855 3,836,241 (2,005,094 ) — 25,463,002 Inflation Effect (60,735,541 ) (25,593,955 ) (3,672,930 ) — (90,002,426 ) Gross carrying amount as of December 31, 2021 167,039,513 60,741,347 18,860,077 — 246,640,937 Stage 1 Stage 2 Stage 3 Retail like Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2020 159,649,962 19,557,425 3,605,932 — 182,813,319 Transfers: Transfers from Stage 1 to Stage 2 (5,960,505 ) 5,960,505 — — — Transfers from Stage 1 to Stage 3 (308,818 ) — 308,818 — — Transfers from Stage 2 to Stage 1 2,993,818 (2,993,818 ) — — — Transfers from Stage 2 to Stage 3 — (431,463 ) 431,463 — — Transfers from Stage 3 to Stage 2 — 72,125 (72,125 ) — — Transfers from Stage 3 to Stage 1 98,929 — (98,929 ) — — Financial assets derecognized during the period other than write-offs (62,620,001 ) (3,941,723 ) (1,350,254 ) — (67,911,978 ) New financial assets originated or purchased 116,677,738 4,522,166 2,444,480 — 123,644,384 Foreign exchange and other movements (2,005,757 ) 854,462 (329,244 ) — (1,480,539 ) Inflation Effect (53,880,627 ) (6,600,479 ) (1,216,974 ) — (61,698,080 ) Gross carrying amount as of December 31, 2021 154,644,739 16,999,200 3,723,167 — 175,367,106 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2020 398,096,545 20,465,641 1,201,703 — 419,763,889 Transfers: Transfers from Stage 1 to Stage 2 (5,519,947 ) 5,519,947 — — — Transfers from Stage 1 to Stage 3 — — — — — Transfers from Stage 2 to Stage 1 1,156,736 (1,156,736 ) — — — Transfers from Stage 2 to Stage 3 — (438,059 ) 438,059 — — Transfers from Stage 3 to Stage 2 — — — — — Transfers from Stage 3 to Stage 1 — — — — — Financial assets derecognized during the period other than write-offs (124,985,052 ) (4,376,503 ) (466,943 ) — (129,828,498 ) New financial assets originated or purchased 349,754,606 8,515,953 554 — 358,271,113 Foreign exchange and other movements 89,758,601 (4,270,859 ) (37,724 ) — 85,450,018 Inflation Effect (211,566,895 ) (6,906,996 ) (405,565 ) — (218,879,456 ) Gross carrying amount as of December 31, 2021 496,694,594 17,352,388 730,084 — 514,777,066 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2020 134,671,424 3,706,700 3,580,727 — 141,958,851 Transfers: Transfers from Stage 1 to Stage 2 (1,674,473 ) 1,674,473 — — — Transfers from Stage 1 to Stage 3 (1,950,674 ) — 1,950,674 — — Transfers from Stage 2 to Stage 1 1,237,876 (1,237,876 ) — — — Transfers from Stage 2 to Stage 3 — (353,778 ) 353,778 — — Transfers from Stage 3 to Stage 2 — 15,798 (15,798 ) — — Transfers from Stage 3 to Stage 1 250,779 — (250,779 ) — — Financial assets derecognized during the period other than write-offs (2,209,070 ) (655,467 ) (2,251,005 ) — (5,115,542 ) New financial assets originated or purchased 89,946,060 3,945,482 2,271,672 — 96,163,214 Foreign exchange and other movements — — — — — Inflation Effect (45,450,564 ) (1,250,982 ) (1,208,468 ) — (47,910,014 ) Gross carrying amount as of December 31, 2021 174,821,358 5,844,350 4,430,801 — 185,096,509 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2019 164,659,573 — — — 164,659,573 Transfers: Transfers from Stage 1 to Stage 2 (21,022,961 ) 21,022,961 — — — Transfers from Stage 1 to Stage 3 (2,335,106 ) — 2,335,106 — — Transfers from Stage 2 to Stage 1 14,304,405 (14,304,405 ) — — — Transfers from Stage 2 to Stage 3 — (2,280,699 ) 2,280,699 — — Transfers from Stage 3 to Stage 2 — 844,888 (844,888 ) — — Transfers from Stage 3 to Stage 1 437,882 — (437,882 ) — — Financial assets derecognized during the period other than write-offs (18,005,652 ) (5,198,477 ) (5,947,998 ) — (29,152,127 ) New financial assets originated or purchased 44,172,674 13,053,985 3,305,426 — 60,532,085 Foreign exchange and other movements 37,979,751 14,233,527 1,411,688 — 53,624,966 Inflation Effect (43,711,386 ) 48,463,898 8,780,854 — 13,533,366 Gross carrying amount as of December 31, 2020 176,479,180 75,835,678 10,883,005 — 263,197,863 Stage 1 Stage 2 Stage 3 Retail like Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2019 70,586,738 10,608,798 6,805,256 — 88,000,792 Transfers: Transfers from Stage 1 to Stage 2 (4,967,139 ) 4,967,139 — — — Transfers from Stage 1 to Stage 3 (199,284 ) — 199,284 — — Transfers from Stage 2 to Stage 1 2,562,142 (2,562,142 ) — — — Transfers from Stage 2 to Stage 3 — (166,596 ) 166,596 — — Transfers from Stage 3 to Stage 2 — 215,330 (215,330 ) — — Transfers from Stage 3 to Stage 1 48,309 — (48,309 ) — — Financial assets derecognized during the period other than write-offs (25,860,454 ) (1,895,229 ) (4,480,861 ) — (32,236,544 ) New financial assets originated or purchased 116,070,986 6,902,688 2,211,773 — 125,185,447 Foreign exchange and other movements 20,146,986 4,303,704 774,082 — 25,224,772 Inflation Effect (18,738,322 ) (2,816,267 ) (1,806,559 ) — (23,361,148 ) Gross carrying amount as of December 31, 2020 159,649,962 19,557,425 3,605,932 — 182,813,319 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2019 423,539,493 12,462,570 10,020,962 — 446,023,025 Transfers: Transfers from Stage 1 to Stage 2 (10,442,927 ) 10,442,927 — — — Transfers from Stage 1 to Stage 3 — — — — — Transfers from Stage 2 to Stage 1 712,206 (712,206 ) — — — Transfers from Stage 2 to Stage 3 — (199,577 ) 199,577 — — Transfers from Stage 3 to Stage 2 — — — — — Transfers from Stage 3 to Stage 1 — — — — — Financial assets derecognized during the period other than write-offs (154,907,468 ) (4,163,403 ) (491,446 ) — (159,562,317 ) New financial assets originated or purchased 330,435,365 6,380,899 122,710 — 336,938,974 Foreign exchange and other movements (78,805,131 ) (437,192 ) (5,989,877 ) — (85,232,200 ) Inflation Effect (112,434,993 ) (3,308,377 ) (2,660,223 ) — (118,403,593 ) Gross carrying amount as of December 31, 2020 398,096,545 20,465,641 1,201,703 — 419,763,889 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Purchased credit- impaired Total Gross carrying amount as of December 31, 2019 96,719,034 5,212,608 12,440,778 — 114,372,420 Transfers: Transfers from Stage 1 to Stage 2 (1,698,774 ) 1,698,774 — — — Transfers from Stage 1 to Stage 3 (2,078,462 ) — 2,078,462 — — Transfers from Stage 2 to Stage 1 — (762,744 ) 762,744 — — Transfers from Stage 2 to Stage 3 1,311,802 (1,311,802 ) — — — Transfers from Stage 3 to Stage 2 — 34,975 (34,975 ) — — Transfers from Stage 3 to Stage 1 277,277 — (277,277 ) — — Financial assets derecognized during the period other than write-offs (4,243,541 ) (1,422,154 ) (8,600,985 ) — (14,266,680 ) New financial assets originated or purchased 70,547,700 1,597,963 412,309 — 72,557,972 Foreign exchange and other movements (664,468 ) 58,333 139,221 — (466,914 ) Inflation Effect (25,499,144 ) (1,399,253 ) (3,339,550 ) — (30,237,947 ) Gross carrying amount as of December 31, 2020 134,671,424 3,706,700 3,580,727 — 141,958,851 |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Provisions for Contingencies | The provisions for contingencies recorded are as follows: 12.31.21 12.31.20 Other Contingencies 4,305,489 5,597,804 For Commercial Lawsuits/Legal matters 2,734,238 4,163,612 For Labor Lawsuits 379,442 405,564 For Claims and Credit Cards 200 1,656 For Guarantees Granted 1,142 1,724 For Other Contingencies 927,621 691,933 For Termination Benefits 262,846 333,315 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 76,110 94,191 Administrative, Disciplinary and Criminal Penalties — 8,009 Total 4,381,599 5,700,004 |
Offsetting of Financial Asset_2
Offsetting of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 and 2020 are as follows: Offsetting effects on Statement of Related amounts not 12.31.21 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 106,830 — 106,830 (99,922 ) 6,908 Total 106,830 — 106,830 (99,922 ) 6,908 Financial Liabilities Derivate Instruments 127,920 — 127,920 (99,922 ) 27,998 Total 127,920 — 127,920 (99,922 ) 27,998 Offsetting effects on Statement of Related amounts not 12.31.20 Gross Amount Offset Net Subject to Total Net Amount Financial Assets Derivate Instruments 41,767 — 41,767 (37,865 ) 3,902 Total 41,767 — 41,767 (37,865 ) 3,902 Financial Liabilities Derivate Instruments 47,536 — 47,536 (37,865 ) 9,671 Total 47,536 — 47,536 (37,865 ) 9,671 |
Off-balance Sheet Items (Tables
Off-balance Sheet Items (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Schedule of Credit Exposure | The credit exposure for these transactions is detailed below. 12.31.21 12.31.20 Agreed Credits 54,380,064 50,012,860 Documentary Export and Import Credits 5,946,482 3,747,888 Guarantees Granted 11,539,426 19,107,614 Liabilities for Foreign Trade Operations 872,522 1,383,759 |
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: 12.31.21 12.31.20 For Agreed Credits 87,366 29,332 For Documentary Export and Import Credits 79,211 157,877 For Guarantees Granted 33,839 108,784 |
Schedule of Counter-guarantees, Classified by Type | To grant guarantees to our customers, we may require counter-guarantees, which, classified by type, amount to: 12.31.21 12.31.20 Other Preferred Guarantees Received 16,764 99,452 Other Guarantees Received 533,240 430,557 |
Schedule of Credit Risk by Probability of Default | The risk of loss in these offsetting transactions is not significant. 12.31.21 12.31.20 Values to be Debited 9,333,650 10,567,975 Values to be Credited 10,577,694 15,877,301 Values for Collection 143,871,686 128,598,377 |
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: 12.31.21 12.31.20 Trust Funds 9,955,990 13,253,439 Securities Held in Escrow 1,803,674,978 1,214,072,600 |
Non-controlling Interest (Table
Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Non-controlling Equity Investment Percentages and Votes | The non-controlling Company Place of Business 12.31.21 12.31.20 Galicia Broker Asesores de Seguros S.A. CABA -Argentina 0.01 % 0.01 % |
Summary of Movements in Group's Significant Non-Controlling Interests | Changes in the Group’s non-controlling Company Balance 12.31.20 Purchases / Cash Dividends Profit for the Balance 12.31.21 Galicia Broker Asesores de Seguros S.A. 5 — — — 5 Total 5 — — — 5 Company Balance as 12.31.19 Purchases / Cash Dividends Profit for the Balance 12.31.20 Cobranzas Regionales S.A. (40,205 ) 40,205 — — — Galicia Broker Asesores de Seguros S.A. 6 — — (1 ) 5 Galicia Retiro Compañía de Seguros S.A. 6 — — (6 ) — Galicia Seguros S.A.U. 8 — — (8 ) — Naranja Digital Compañía Financiera S.A.U. (30,976 ) 30,976 — — — Ondara S.A. 17,180 (17,180 ) — — — Tarjeta Naranja S.A. 5,192,243 (5,192,243 ) — — — Tarjetas Regionales S.A. 806,671 (1,104,438 ) (217,120 ) 514,887 — Total 5,944,933 (6,242,680 ) (217,120 ) 514,872 5 Company Balance as 12.31.18 Purchases / Cash Dividends Profit for the Balance as 12.31.19 Cobranzas Regionales S.A. 36,719 — — (76,924 ) (40,205 ) Galicia Broker Asesores de Seguros S.A. 6 — — — 6 Galicia Retiro Compañía de Seguros S.A. 6 — — — 6 Galicia Seguros S.A.U. 8 — — — 8 Naranja Digital Compañía Financiera S.A.U. — — — (30,976 ) (30,976 ) Ondara S.A. 19,110 — — (1,930 ) 17,180 Tarjeta Naranja S.A. 4,711,768 — — 480,475 5,192,243 Tarjetas Regionales S.A. 677,560 271,671 — (142,560 ) 806,671 Total 5,445,177 271,671 — 228,085 5,944,933 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 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: 12.31.21 12.31.20 Regular Directors 80 79 General Manager 1 1 Area and department Managers 60 55 Total 141 135 |
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. 12.31.21 12.31.20 Total Amount of Credit Assistance 4,409,317 3,006,160 Number of Addressees (quantities) 280 269 - Natural Persons 221 208 - Legal Entities 59 61 Average Amount of Credit Assistance 15,748 11,176 Maximum Assistance 1,662,740 768,210 |
Summary of Amounts of Related Party Transactions | The amounts of related party transactions conducted as of the indicated dates are as follows: 12.31.21 12.31.20 Assets Cash and Due from Banks 4,290,665 2,101,957 Debt Securities at Fair Value through Profit or Loss 625,105 1,114,405 Other Financial Assets — 2,504 Loans and Other Financing 9,262,123 5,063,927 Other Debt Securities 125,593 257,591 Assets for Insurance Contracts — 826 Total Assets 14,303,486 8,541,210 Liabilities Deposits 4,792,644 2,576,616 Other Financial Liabilities 102,262 1,281,591 Financing Received from the Argentine Central Bank and other Financial Institutions 8,628,641 3,250,474 Debt Securities Issued 750,698 1,371,996 Liabilities for Insurance Contracts 885 35 Other Non-financial 28,356 60,498 Total Liabilities 14,303,486 8,541,210 12.31.21 12.31.20 12.31.19 Income (Loss) Net Income (Loss) from Interest 565,684 341,833 740,021 Net Fee Income (Expense) (1,772,399 ) (1,638,835 ) (1,814,095 ) Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (338,882 ) (1,365 ) — Other Operating Income (Expense) (1,584,895 ) (1,801,451 ) (2,379,132 ) Income from Insurance Business 3,099,651 3,027,310 3,606,808 Administrative Expenses 140,529 182,642 263,458 Other Operating Expenses 7,324 21,825 14,011 Total Income 117,012 131,959 431,071 |
Additional Information Requir_2
Additional Information Required by the Argentine Central Bank (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text block [abstract] | |
Summary of Restricted Assets | a) Cash and Government Securities 12.31.21 12.31.20 For transactions in ROFEX, MAE and BYMA 11,203,763 5,894,832 For appraisals from repo transactions 35,948 — For debit / credit cards transactions 4,613,003 4,558,602 For attachments 9,410 14,204 Liquid offsetting entry required to operate as CNV agent 86,400 96,633 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada 1,100 1,660 Guarantees for the Regional Economies Competitiveness Program 129,805 278,856 For other transactions (includes guarantees linked to rental contracts) 24,150 29,889 For forward purchases of repurchase transactions 323,534 — 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: 12.31.21 12.31.20 Escrow Accounts 18,509,197 17,274,591 c) Deposits in favor of the Argentine Central Bank 12.31.21 12.31.20 Unavailable deposits due to exchange transactions 533 805 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferable non-endorsable 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. 12.31.21 12.31.20 Contributions to the Fund 990,000 1,494,322 INVIU S.A.U. 12.31.21 12.31.20 Liquid offsetting entry required to operate as CNV agents 33,472 27,877 Guarantees linked to surety bonds 4,530 11,195 Tarjeta Naranja S.A. 12.31.21 12.31.20 Attachments arising from judicial cases 99,254 1,469 Guarantees linked to rental contracts 8,646 10,681 Galicia Asset Management S.A.U. 12.31.21 12.31.20 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV (*) 52,591 20,985 (*) As of December 31, 2021, it corresponds to 5,500,000 shares of Fima Capital Plus “C” Mutual Fund. Galicia Securities S.A.U. 12.31.21 12.31.20 For transactions in the market 220,009 72,475 Liquid offsetting entry required to operate as CNV agents 18,506 17,011 Guarantees linked to surety bonds 20,217 1,704 The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.21 12.31.20 Total Restricted Assets 36,384,068 29,807,791 |
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 Funds Maturity (*) 04.17.12 Exxon Mobil 21,535 04.19.23 09.12.14 Coop. de Trab. Portuarios 7,013 09.12.22 03.16.21 Fondo Fiduciario Aceitero 9,220 01.31.22 Total 37,768 (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 180,029 12.31.22 05.14.09 GAS II 9,715,280 12.31.22 06.08.11 MILA III 19,730 12.31.22 01.09.11 MILA IV 3,183 12.31.22 Total 9,918,222 (*) 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 12.31.21 12.31.20 FIMA Acciones 1,265,644 890,944 FIMA P.B. Acciones 1,054,541 955,515 FIMA Renta en pesos 10,569,935 1,657,791 FIMA Ahorro pesos 17,890,833 10,946,320 FIMA Renta Plus 8,519,259 1,116,575 FIMA Premium 257,119,600 224,439,590 FIMA Ahorro Plus 28,931,495 19,179,449 FIMA Capital Plus 13,777,224 25,133,197 FIMA Abierto PyMES 1,026,906 1,144,949 FIMA Mix I 3,571,848 3,090,322 FIMA Renta Fija Internacional 779,203 1,770,204 FIMA Acciones Latinoamericanas Dólares (*) 67,799 109,686 Total 344,574,287 290,434,542 (*) 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, 2021, the balances recorded as computable items are as follows: Currency Item Ps. USD Euros (*) Checking Accounts held in Argentine Central Bank 12,000,000 1,754,449 29 Escrow Accounts held in Argentine Central Bank 18,054,014 4,430 — National Treasury Bonds in Argentine Pesos computable for minimum cash 29,787,727 — — Liquidity Bills computable for minimum cash 75,841,941 — — Total for integration Minimum Cash 135,683,682 1,758,879 29 (*) Stated in thousands of USD. |
Schedule of Plan for Distribution of Profit | Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.21 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 102,456,581 Legal reserve 1,077,884 Distributable reserves 155,265,604 Non distributable reserves (89,247 ) Profit for the year 31,778,769 Total Shareholder’s equity under the rules of the Argentine Central Bank 309,245,470 |
Accounting Policies and Basis_4
Accounting Policies and Basis for Preparation - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 | 102.75 | 84.145 |
"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, 2021 | |
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, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | $ 235,936,898 | $ 234,592,823 |
Fair Value through Profit or Loss | 75,674 | 0 |
Argentine central bank's bills and notes [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 181,567,431 | 193,695,730 |
Government securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 51,904,219 | 36,652,618 |
Corporate Securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 2,465,248 | 4,244,475 |
Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 1,247,078 | 3,267,935 |
Repurchase transactions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 203,205,457 | 92,067,820 |
Other financial assets [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 10,039,375 | 4,214,265 |
Amortized Cost | 13,332,551 | 11,021,219 |
Loans and other financing [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 744,433,702 | 794,608,259 |
Other debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 90,126,580 | 28,505,749 |
Fair Value through OCI | 4,230,419 | 6,317,055 |
Financial assets pledged as collateral [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 12,051,320 | 3,072,506 |
Amortized Cost | 23,184,348 | 25,179,908 |
Investments in Equity Investments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 1,251,934 | 8,621,309 |
Cash and due from banks [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 237,426,843 | 264,787,060 |
Deposits [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 1,035,957,929 | 1,020,886,486 |
Liabilities at fair value through profit or loss [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 75,674 | |
Derivative financial instruments [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 712,129 | 86,716 |
Repurchase transactions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 324,119 | |
Other financial liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 195,659,168 | 147,171,842 |
Financing Received from the Argentine Central Bank and Other Financial Institutions [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 23,710,704 | 20,880,419 |
Debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | 27,971,776 | 25,771,621 |
Subordinated debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Amortized Cost | $ 26,275,536 | $ 32,684,216 |
Fair Values - Schedule of Finan
Fair Values - Schedule of Financial Instruments Measured at Fair Value (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 1,678,043,055 | $ 1,592,855,622 | |
Liabilities | 1,373,573,830 | 1,317,638,103 | |
Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 13,332,551 | 11,021,219 | |
Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 90,126,580 | 28,505,749 | |
Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 23,184,348 | 25,179,908 | |
Fair value level 1 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 71,036,139 | 45,977,626 | |
Fair value level 1 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 48,196,411 | 34,973,924 | |
Fair value level 1 [member] | Corporate Securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,127,047 | 2,496,545 | |
Fair value level 1 [member] | Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 4,442,031 | 4,167,088 | |
Fair value level 1 [member] | Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 4,230,419 | 913,191 | |
Fair value level 1 [member] | Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 12,051,320 | 3,072,506 | |
Fair value level 1 [member] | Investments in Equity Investments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 64,585 | 354,372 | |
Fair value level 1 [member] | Liabilities at fair value through profit or loss [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 75,674 | ||
Fair value level 2 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 184,094,418 | 201,262,760 | |
Fair value level 2 [member] | Argentine central bank's bills and notes [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 181,567,431 | 193,695,730 | |
Fair value level 2 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,980,000 | 1,375,652 | |
Fair value level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,247,078 | 827,053 | |
Fair value level 2 [member] | Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 12,038 | 47,177 | |
Fair value level 2 [member] | Other debt securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 5,403,864 | ||
Fair value level 2 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 712,129 | 86,716 | |
Fair value level 3 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 8,838,664 | 12,758,791 | $ 24,109,033 |
Total | 8,838,664 | 12,758,791 | |
Fair value level 3 [member] | Government securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,727,808 | 303,042 | 10,670,072 |
Fair value level 3 [member] | Corporate Securities [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 338,201 | 1,747,930 | 379,876 |
Fair value level 3 [member] | Derivative financial instruments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,440,882 | 1,912,183 | |
Fair value level 3 [member] | Other financial assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 5,585,306 | ||
Fair value level 3 [member] | Financial assets pledged as collateral [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,120,733 | ||
Fair value level 3 [member] | Investments in Equity Investments [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 1,187,349 | $ 8,266,937 | $ 9,026,169 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | $ 1,592,855,622 | |
Ending balance | 1,678,043,055 | $ 1,592,855,622 |
Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 12,758,791 | 24,109,033 |
Transfers | 1,028,078 | |
Transfers | (2,748,105) | |
Recognition | 9,117,604 | 34,827,160 |
Derecognition | (9,161,916) | (41,543,974) |
Income (Loss) | 516,392 | 3,911,790 |
Inflation Effect | (5,420,285) | (5,797,113) |
Ending balance | 8,838,664 | 12,758,791 |
Government securities [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 303,042 | 10,670,072 |
Transfers | 720,774 | |
Transfers | (2,617,950) | |
Recognition | 2,403,032 | 27,958,069 |
Derecognition | (1,703,054) | (34,635,558) |
Income (Loss) | (41,167) | 1,381,483 |
Inflation Effect | 45,181 | (2,453,074) |
Ending balance | 1,727,808 | 303,042 |
Corporate Securities [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 1,747,930 | 379,876 |
Transfers | (115,844) | (186,587) |
Recognition | 1,129,266 | 5,811,807 |
Derecognition | (729,099) | (4,522,684) |
Income (Loss) | 47,218 | 150,677 |
Inflation Effect | (1,741,270) | (258,333) |
Ending balance | 338,201 | 1,747,930 |
Other financial assets [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 11,021,219 | |
Ending balance | 13,332,551 | 11,021,219 |
Other financial assets [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Recognition | 5,585,306 | |
Ending balance | 5,585,306 | |
Derivative financial instruments [member] | Fair value level 3 [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 2,440,882 | 1,912,183 |
Derecognition | (1,617,103) | |
Income (Loss) | 1,036,317 | |
Inflation Effect | (823,779) | (507,618) |
Ending balance | 2,440,882 | |
Financial assets pledged as collateral [member] | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 25,179,908 | |
Ending balance | 23,184,348 | 25,179,908 |
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 | 2,120,733 | |
Transfers | 316,742 | |
Recognition | 1,057,284 | |
Derecognition | (2,385,732) | |
Income (Loss) | (244,960) | |
Inflation Effect | (230,583) | |
Ending balance | ||
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 | 8,266,937 | 9,026,169 |
Transfers | 423,148 | |
Derecognition | (5,112,660) | |
Income (Loss) | 510,341 | 1,588,273 |
Inflation Effect | (2,900,417) | (2,347,505) |
Ending balance | $ 1,187,349 | $ 8,266,937 |
Fair Values - Summary of Assets
Fair Values - Summary of Assets and Liabilities Recorded at Amortized Cost (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | $ 1,678,043,055 | $ 1,592,855,622 | |
Liabilities | 1,373,573,830 | 1,317,638,103 | |
Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 8,838,664 | 12,758,791 | $ 24,109,033 |
Deposits [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 1,035,957,929 | 1,020,886,486 | |
Deposits [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 1,035,936,049 | 1,020,882,232 | |
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 | 1,035,936,049 | 1,020,882,232 | |
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 | 23,710,704 | 20,880,419 | |
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 | 23,574,332 | 19,163,963 | |
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 | 23,574,332 | 19,163,963 | |
Debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 27,971,776 | 25,771,621 | |
Debt securities [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 27,578,207 | 24,464,155 | |
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 | 23,133,327 | 18,427,059 | |
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 | 4,444,880 | 6,037,096 | |
Subordinated debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 26,275,536 | 32,684,216 | |
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 | 25,938,727 | 31,983,918 | |
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 | 25,938,727 | 31,983,918 | |
Other financial liabilities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 195,659,168 | 147,171,842 | |
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 | 195,484,656 | 146,586,013 | |
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 | 195,484,656 | 146,586,013 | |
Repurchase transactions liabilites [Member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 324,119 | ||
Repurchase transactions liabilites [Member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 324,119 | ||
Repurchase transactions liabilites [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 | 324,119 | ||
Cash and due from banks [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 237,426,843 | 264,787,060 | |
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 | 237,426,843 | 264,787,060 | |
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 | 237,426,843 | 264,787,060 | |
Repurchase transactions [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 203,205,457 | 92,067,820 | |
Repurchase transactions [member] | Fair value [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 203,205,457 | 92,067,820 | |
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 | 203,205,457 | 92,067,820 | |
Loans and other financing [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 744,433,702 | 794,608,259 | |
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 | 748,649,983 | 796,722,083 | |
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 | 748,649,983 | 796,722,083 | |
Other financial assets [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 13,332,551 | 11,021,219 | |
Other financial assets [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 4,442,031 | 4,167,088 | |
Other financial assets [member] | Fair value level 3 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 5,585,306 | ||
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 | 13,660,673 | 11,184,121 | |
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 | 9,550,403 | 6,640,801 | |
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 | 4,110,270 | 4,543,320 | |
Other debt securities [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 90,126,580 | 28,505,749 | |
Other debt securities [member] | Fair value level 1 [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 4,230,419 | 913,191 | |
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 | 90,126,580 | 28,532,180 | |
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 | 90,126,580 | 28,532,180 | |
Financial assets pledged as collateral [member] | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 23,184,348 | 25,179,908 | |
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 | 12,051,320 | 3,072,506 | |
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 | $ 2,120,733 | ||
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 | 23,184,348 | 25,179,908 | |
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 | $ 23,184,348 | $ 25,179,908 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and cash equivalents [abstract] | ||||
Net cash and Due from Banks | $ 237,426,843 | $ 264,787,060 | $ 268,474,449 | |
Argentine Central Bank's Bills and Notes Maturing up to 90 Days | 181,567,431 | 193,695,729 | 119,475,780 | |
Reverse repurchase Transactions Debtors | 202,522,230 | 91,835,978 | 61,640,389 | |
Loans to Financial Institutions | 6,582,500 | 9,811,206 | ||
Overnight Placements in Foreign Banks | 5,615,877 | 2,508,399 | 16,181,981 | |
Mutual Funds | 4,442,031 | 4,167,088 | 10,210,476 | |
Time Deposits | 3,804,241 | 4,991,443 | 1,004,712 | |
Total Cash and Cash Equivalents | $ 641,961,153 | $ 571,796,903 | $ 476,987,787 | $ 714,003,049 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Summary of Derivative Instrument Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 23,710,704 | $ 20,880,419 |
Foreign currencies [member] | Currency Forward purchases [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 76,738,445 | 38,817,252 |
Foreign currencies [member] | Currency Forward Sale [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 57,740,766 | 21,627,556 |
Foreign currencies [member] | Currency Forward by customers purchases [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 10,162,388 | 2,338,623 |
Foreign currencies [member] | Forward Currency Customer Sales [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 31,398,862 | 18,963,363 |
Other asset [member] | Interest rate swap 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 125,144 | |
Government securities [member] | Currency Forward purchases [member] | Repurchase Transaction [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 323,534 | |
Government securities [member] | Currency Forward Sale [member] | Repurchase Transaction [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 204,755,685 | $ 93,468,930 |
Repurchase Transactions - Summa
Repurchase Transactions - Summary of Repo Transactions and Reverse Repurchase Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of repurchase transactions [line items] | ||
Debtors for Reserve Repurchase Transactions of Government Securities | $ 202,522,230 | $ 91,835,978 |
Interest Accrued Receivable for Reserve Repurchase Transactions | 683,227 | 231,842 |
Total Repurchase Transactions - Assets | 203,205,457 | 92,067,820 |
Creditors for Repurchase Transactions of Government Securities | 322,881 | |
Interest Accrued Payable for Repurchase Transactions | 1,238 | |
Total Repurchase Transactions - Liabilities | $ 324,119 | $ 0 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of repurchase transactions [Abstract] | ||
Reverse Repurchase Transactions recorded in Off-Balance Sheet Items | $ 204,795,923 | $ 93,468,930 |
Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral | $ 323,534 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ 23,371,926 | $ 15,235,484 |
Debtors from spot sales of foreign currency pending settlement [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 397,058 | 162,326 |
Debtors from spot sales of government securities pending settlement [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 3,482,549 | 1,871,480 |
Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 13,332,784 | 7,275,171 |
Mutual funds [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 4,442,031 | 4,167,088 |
Premiums from financial guarantee contracts [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 298,923 | 730,600 |
Interest accrued receivable [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 1,456,260 | 1,018,145 |
Fiduciary participation certificates [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 12,038 | 47,177 |
Balances from claims pending recovery [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 15,121 | 43,284 |
Others [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 4,294 | |
Minus: Allowances [member] | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ (64,838) | $ (84,081) |
Other Financial Assets - Summ_2
Other Financial Assets - Summary of Credit Rating Quality Analysis of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other financial assets [line items] | ||
Other financial assets | $ 23,371,926 | $ 15,235,484 |
Debtors forSaleof Foreign Currency [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 397,058 | |
Debtors for Cash sale of Government Securities to be Settled [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 3,482,549 | |
Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 13,267,946 | |
Mutual funds [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 4,442,031 | |
Premiums From Financial Guarantee Contracts [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 298,923 | |
Interest Accrued Receivable [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 1,456,260 | |
Fiduciary Participation Certificates [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 12,038 | |
Balances from Claims Pending Recovery [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 15,121 | |
Accumulated impairment [member] | Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | (64,838) | |
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 | 397,058 | |
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 | 3,482,549 | |
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 | 13,324,323 | |
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 | 4,442,031 | |
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 | 298,923 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Interest Accrued Receivable [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 1,456,260 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Fiduciary Participation Certificates [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 12,038 | |
Financial assets neither past due nor impaired [member] | Gross carrying amount [member] | Balances from Claims Pending Recovery [Member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | 15,121 | |
Financial assets impaired [member] | Gross carrying amount [member] | Sundry debtors [member] | ||
Disclosure of other financial assets [line items] | ||
Other financial assets | $ 8,461 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of loans and other financing [line items] | ||
Non-financial Public Sector | $ 498 | $ 504 |
Argentine Central Bank (BCRA) | 533 | 19,917 |
Financial Institutions | 12,746,201 | 22,189,326 |
Loans | 12,746,201 | 22,189,326 |
Non-financial Private Sector and Residents Abroad | 779,004,889 | 828,599,473 |
Loans | 765,880,766 | 810,868,509 |
Financial Leases | 1,114,408 | 2,800,073 |
Other Financing | 12,009,715 | 14,930,891 |
Less: Allowances | (47,318,419) | (56,200,961) |
Total | 744,433,702 | 794,608,259 |
Advances [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 53,152,720 | 44,104,286 |
Notes [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 194,471,663 | 217,007,796 |
Mortgages [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 18,419,566 | 24,884,743 |
Pledge Loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 16,220,243 | 17,488,993 |
Personal loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 65,896,440 | 55,099,972 |
Credit cards loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 367,957,854 | 364,966,327 |
Other loans [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 22,806,981 | 54,990,173 |
Accrued interest adjustments and quotation differences receivable [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | 29,353,974 | 35,697,497 |
Documented Interest [member] | ||
Disclosure of loans and other financing [line items] | ||
Loans | $ (2,398,675) | $ (3,371,278) |
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, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets pledged as collateral [abstract] | ||
Deposits as Collateral | $ 16,394,982 | $ 10,414,132 |
Special Accounts as Collateral – Argentine Central Bank | 18,517,152 | 17,274,590 |
Trust as Collateral | 563,692 | |
Forward Purchases of Monetary Regulatory Instruments | 323,534 | |
Total | $ 35,235,668 | $ 28,252,414 |
Current Income Tax Assets - Sum
Current Income Tax Assets - Summary of Current Income Tax Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Major components of tax expense (income) [abstract] | ||
Tax Advances | $ 76,381 | $ 297,497 |
Total | $ 76,381 | $ 297,497 |
Investments In Equity Instrum_2
Investments In Equity Instruments - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Oct. 01, 2021 | Feb. 01, 2019 | Mar. 31, 2022 |
Sale Shares Of Prisma Medios De Pago [Member] | |||
Investments In Equity Instruments [Line Items] | |||
Sale price of shares | $ 54,358 | ||
Sale Shares Of Prisma Medios De Pago [Member] | Tranche One [Member] | |||
Investments In Equity Instruments [Line Items] | |||
Percentage of payment in pesos | 30.00% | ||
Nominal annual rate | 15.00% | ||
Sale Shares Of Prisma Medios De Pago [Member] | Tranche Two [Member] | |||
Investments In Equity Instruments [Line Items] | |||
Nominal annual rate | 10.00% | ||
Percentage of payment in USD | 70.00% | ||
Payment term | 6 years | ||
AL ZENITH [Member] | |||
Investments In Equity Instruments [Line Items] | |||
Final sale price | $ 104,469 | ||
Proceeds from sale of business | 63,073 | ||
Deferred share price | $ 41,396 | ||
Number of common shares sold | 3,182,444 | ||
Par value per share | $ 1 | ||
Percentage of shareholding | 51.00% | ||
Percentage of capital stock and votes to be sold | 49.00% |
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, 2021 | Dec. 31, 2020 | |
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 | $ 3,910,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Galicia Asset Management S.A.U. [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 | $ 71,309 |
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.U. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 95,392,000 | $ 95,392,000 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Galicia Seguros S.A.U. [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 | $ 77,643,963 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
INVIU 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 | $ 1,012,567,500 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Ondara S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 25,776,101 | $ 25,776,101 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
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 | $ 2,824 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Tarjetas Regionales S.A. [member] | ||
Disclosure of subsidiaries [line items] | ||
Investments in subsidiaries | $ 1,680,183,936 | $ 1,680,183,936 |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 1,678,043,055 | $ 1,592,855,622 | ||
Liabilities | 1,373,573,830 | 1,317,638,103 | ||
Shareholders' Equity | 304,469,225 | 275,217,519 | $ 240,087,488 | $ 195,509,533 |
Net (Loss) / Income for the Year | 31,094,407 | 38,508,477 | $ 48,946,578 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,475,481,065 | 1,427,936,985 | ||
Liabilities | 1,223,387,627 | 1,198,775,669 | ||
Shareholders' Equity | 252,093,438 | 229,161,316 | ||
Net (Loss) / Income for the Year | 22,932,127 | 31,276,853 | ||
Cobranzas Regionales S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 4,480,289 | 2,240,407 | ||
Liabilities | 3,042,245 | 1,907,665 | ||
Shareholders' Equity | 1,438,044 | 332,742 | ||
Net (Loss) / Income for the Year | (1,372,320) | (857,134) | ||
Galicia Asset Management S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 2,794,107 | |||
Liabilities | 937,219 | |||
Shareholders' Equity | 1,856,888 | |||
Net (Loss) / Income for the Year | 2,132,887 | |||
Galicia Broker Asesores de Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 85,872 | 71,291 | ||
Liabilities | 30,412 | 30,709 | ||
Shareholders' Equity | 55,460 | 40,582 | ||
Net (Loss) / Income for the Year | 53,408 | 61,463 | ||
Galicia Retiro Compania de Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 691,989 | 765,344 | ||
Liabilities | 551,473 | 597,963 | ||
Shareholders' Equity | 140,516 | 167,381 | ||
Net (Loss) / Income for the Year | (25,995) | 5,520 | ||
Galicia Securities S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 4,234,744 | |||
Liabilities | 3,564,205 | |||
Shareholders' Equity | 670,539 | |||
Net (Loss) / Income for the Year | 459,039 | |||
Galicia Seguros S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 6,626,001 | 7,121,052 | ||
Liabilities | 4,307,192 | 4,607,949 | ||
Shareholders' Equity | 2,318,809 | 2,513,103 | ||
Net (Loss) / Income for the Year | 1,240,064 | 1,853,355 | ||
Galicia Warrants S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,020,516 | 1,060,887 | ||
Liabilities | 314,499 | 259,245 | ||
Shareholders' Equity | 706,017 | 801,642 | ||
Net (Loss) / Income for the Year | 12,932 | (62,149) | ||
IGAM LLC [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 675,266 | 656,675 | ||
Liabilities | 288 | 136,709 | ||
Shareholders' Equity | 674,978 | 519,966 | ||
Net (Loss) / Income for the Year | (1,150,556) | 236,251 | ||
INVIU Uruguay Agente de Valores S A [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 76,225 | 1,306 | ||
Liabilities | 4,228 | 4,226 | ||
Shareholders' Equity | 71,997 | (2,920) | ||
Net (Loss) / Income for the Year | (28,369) | (4,229) | ||
INVIU S.A.U. [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,796,569 | 654,001 | ||
Liabilities | 1,296,313 | 241,624 | ||
Shareholders' Equity | 500,256 | 412,377 | ||
Net (Loss) / Income for the Year | (930,514) | 242,186 | ||
Naranja Digital Comapañía Financiera S.A.U. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,315,560 | 1,258,530 | ||
Liabilities | 90,392 | 82,897 | ||
Shareholders' Equity | 1,225,168 | 1,175,633 | ||
Net (Loss) / Income for the Year | (880,922) | (650,865) | ||
Ondara S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 34,133 | 47,879 | ||
Liabilities | 14 | 142 | ||
Shareholders' Equity | 34,119 | 47,737 | ||
Net (Loss) / Income for the Year | (13,618) | (20,427) | ||
Sudamericana Holding S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 2,743,029 | 3,991,335 | ||
Liabilities | 11,276 | 85,940 | ||
Shareholders' Equity | 2,731,753 | 3,905,395 | ||
Net (Loss) / Income for the Year | 1,197,774 | 1,985,486 | ||
Tarjeta Naranja S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 193,754,221 | 152,856,085 | ||
Liabilities | 154,552,978 | 116,853,134 | ||
Shareholders' Equity | 39,201,243 | 36,002,951 | ||
Net (Loss) / Income for the Year | 9,088,823 | 5,021,233 | ||
Tarjetas Regionales S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 44,812,562 | 38,627,624 | ||
Liabilities | 5,364 | 43,847 | ||
Shareholders' Equity | 44,807,198 | 38,583,777 | ||
Net (Loss) / Income for the Year | $ 6,223,420 | $ 3,260,735 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of subsidiaries [line items] | ||
Equity Investment | 13.06% | |
Place of Business | Autonomous City of Buenos Aires - Argentina | |
Investments in associates | $ 169,347 | $ 134,552 |
Equity Investments in Subsidi_6
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Such Investment (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | |||
Contributions | $ 271,671 | ||
Profit Sharing in income (loss) for the Year | $ (129,152) | $ (188,757) | |
Play Digital SA [member] | |||
Disclosure of subsidiaries [line items] | |||
Investments in associates | 134,552 | 0 | |
Contributions | 209,129 | 323,309 | |
Proceeds from sales of interests in associates | (45,182) | 0 | |
Profit Sharing in income (loss) for the Year | (129,152) | (188,757) | |
Investments in associates | $ 169,347 | $ 134,552 | $ 0 |
Equity Investments in Subsidi_7
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 1,678,043,055 | $ 1,592,855,622 | ||
Liabilities | 1,373,573,830 | 1,317,638,103 | ||
Shareholders' Equity | 304,469,225 | 275,217,519 | $ 240,087,488 | $ 195,509,533 |
Net Income (Loss) | 31,094,407 | $ 38,508,477 | $ 48,946,578 | |
Play Digital SA [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,633,180 | |||
Liabilities | 336,566 | |||
Shareholders' Equity | 1,296,614 | |||
Net Income (Loss) | $ (1,497,307) |
Equity Investments in Subsidi_8
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 15, 2021 | Sep. 01, 2020 |
Disclosure of subsidiaries [line items] | |||||||
Share Capital | $ 1,474,692 | $ 1,474,692 | $ 47,927,494 | ||||
Net cash flows used in investment activities | $ (8,417,683) | $ (10,237,381) | $ (10,844,469) | ||||
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 | 10,000 | |||||
Par value per share | $ 1 | ||||||
Rights per share | one vote per share | ||||||
Galicia Securities S.A.U. [member] | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of voting interests acquired | 100.00% | 0.00057% | |||||
Consideration transferred, acquisition date fair value | $ 48,540 | ||||||
Net identifiable assets recognized | 34,650 | ||||||
Goodwill recognized as of acquisition date | 13,890 | ||||||
Net cash flows used in investment activities | $ 48,540 |
Leases - Summary of detailed in
Leases - Summary of detailed information about lease assets and liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use asset | $ 4,504,770 | $ 6,117,050 |
Lease liabilities | 4,381,601 | 6,586,196 |
Real estate [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Right-of-use asset | $ 4,504,770 | $ 6,117,050 |
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, 2021 | Dec. 31, 2020 | |
Presentation of leases for lessee [abstract] | ||
Charge for depreciation of right-of-use assets | $ 2,025,313 | $ 1,980,809 |
Interest Expenses | 530,330 | 602,031 |
Expenses related to short-term leases | 249,575 | 213,884 |
Expenses related to low-value assets leases | 235,398 | 252,296 |
Sublease Income | $ 2,230 | $ 14,777 |
Leases - Additional Information
Leases - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Cash outflow for leases | $ 1,736,133 | |
Additions to right-of-use assets | $ 602,421 | $ 950,004 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Leases By Lessee [Line Items] | |||
Right-of-use asset | $ 4,504,770 | $ 6,117,050 | |
Additions | 602,421 | 950,004 | |
Cancellation of contracts | (189,388) | (416,636) | |
Depreciation of the year | (2,025,313) | (1,980,809) | |
Lease liabilities | 4,381,601 | 6,586,196 | |
New contracts | 602,421 | 950,004 | |
Cancellation of contracts on leases | (189,388) | (416,636) | |
Leases payment | (1,736,133) | (2,012,188) | $ (2,055,635) |
Leases financial cost | 530,330 | 602,031 | |
Translation differences and inflation adjustment | (1,411,825) | (280,301) | |
Previously stated [member] | |||
Disclosure Of Leases By Lessee [Line Items] | |||
Right-of-use asset | 6,117,050 | 7,564,491 | |
Lease liabilities | 6,586,196 | 7,743,286 | |
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||
Disclosure Of Leases By Lessee [Line Items] | |||
Depreciation of the year | $ (2,025,313) | $ (1,980,809) |
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, 2021 | Dec. 31, 2020 | |
Deferred Tax Assets Valuation of Securities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | $ 158 | $ 77,327 |
Charge to Income | (158) | (77,169) |
Ending balance | 158 | |
Deferred Tax Assets Derivate Instruments [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Charge to Income | 17,092 | |
Ending balance | 17,092 | |
Deferred Tax Assets Loans and Other Financing [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 16,961,608 | 6,458,491 |
Charge to Income | (418,327) | 10,503,117 |
Ending balance | 16,543,281 | 16,961,608 |
Deferred Tax Assets Tax Loss Carry-forwards [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 472,129 | 100,550 |
Charge to Income | 423,566 | 371,579 |
Ending balance | 895,695 | 472,129 |
Deferred Tax Assets Other Non-financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 45,174 | 23,340 |
Charge to Income | (33,362) | 21,834 |
Ending balance | 11,812 | 45,174 |
Deferred Tax Assets Other Financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 2,809 | |
Charge to Income | (2,809) | 2,809 |
Ending balance | 2,809 | |
Deferred Tax Assets Subordinated Negotiable Obligations [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 10,663 | |
Charge to Income | (10,663) | 10,663 |
Ending balance | 10,663 | |
Deferred Tax Assets Allowance for Impairment [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 14,401 | |
Charge to Income | (14,401) | |
Deferred Tax Assets Provisions [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,188,513 | 3,570,300 |
Charge to Income | (928,406) | (2,381,787) |
Ending balance | 260,107 | 1,188,513 |
Deferred Tax Assets Other Non-financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 616,429 | 930,430 |
Charge to Income | 425,647 | (314,001) |
Ending balance | 1,042,076 | 616,429 |
Deferred Tax Assets Foreign Currency Exchange Difference [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Charge to Income | 14,341 | |
Ending balance | 14,341 | |
Deferred Tax Assets Inflation Adjustment Deferral [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 17,537,474 | 11,946,143 |
Charge to Income | (511,624) | 5,591,331 |
Others | 10,578,421 | |
Ending balance | 6,447,429 | 17,537,474 |
Deferred Tax Assets Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 325,620 | 135,592 |
Charge to Income | (212,997) | 190,028 |
Ending balance | 112,623 | 325,620 |
Deferred Tax Assets Gross [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 37,160,577 | 23,256,574 |
Charge to Income | (1,237,700) | 13,904,003 |
Others | 10,578,421 | |
Ending balance | 25,344,456 | 37,160,577 |
Deferred Tax Assets Subsidiaries With Net Liability Position [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (23,254,928) | (17,488,512) |
Charge to Income | 2,196,867 | (5,766,416) |
Ending balance | (21,058,061) | (23,254,928) |
Deferred Tax Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 13,905,649 | 5,768,062 |
Charge to Income | 959,167 | 8,137,587 |
Others | 10,578,421 | |
Ending balance | 4,286,395 | 13,905,649 |
Deferred Tax Liabilities Valuation of Securities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1,968,609) | (43,144) |
Charge to Income | 582,204 | (1,925,465) |
Ending balance | (1,386,405) | (1,968,609) |
Deferred Tax Liabilities Other Financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (37,924) | (107,223) |
Charge to Income | (113,708) | 69,299 |
Ending balance | (151,632) | (37,924) |
Deferred Tax Liabilities Property, Plant and Equipment [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (17,099,811) | (15,613,004) |
Charge to Income | (1,251,247) | (1,486,807) |
Ending balance | (18,351,058) | (17,099,811) |
Deferred Tax Liabilities Intangible Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (3,992,949) | (1,502,460) |
Charge to Income | (1,597,299) | (2,490,489) |
Ending balance | (5,590,248) | (3,992,949) |
Deferred Tax Liabilities Other Non-financial Assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (275,122) | (1,273,139) |
Charge to Income | 60,103 | 998,017 |
Ending balance | (215,019) | (275,122) |
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 | (3,172,947) | |
Charge to Income | 3,172,947 | |
Deferred Tax Liabilities Other Financial Liabilities [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (52,340) | (52,340) |
Charge to Income | (84,520) | |
Ending balance | (136,860) | (52,340) |
Deferred Tax Liabilities Subordinated Negotiable Obligations [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (24,216) | (24,216) |
Charge to Income | 24,216 | |
Ending balance | (24,216) | |
Deferred Tax Liabilities Provisions [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (224,154) | |
Charge to Income | (651,084) | 224,154 |
Ending balance | (651,084) | |
Deferred Tax Liabilities Other Non-financial Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (616) | (27,437) |
Charge to Income | 616 | 26,821 |
Ending balance | (616) | |
Deferred Tax Liabilities Foreign Currency Exchange Differences [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (3,660) | (6,062) |
Charge to Income | 3,660 | 2,402 |
Ending balance | (3,660) | |
Deferred Tax Liabilities Inflation Adjustment Deferral [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (5,759) | |
Charge to Income | 78 | (5,759) |
Ending balance | (5,681) | (5,759) |
Deferred Tax Liabilities Others [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (608) | (1,659) |
Charge to Income | (60) | 1,051 |
Ending balance | (668) | (608) |
Deferred Tax Liabilities Foreign Gross [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (23,461,614) | (22,047,785) |
Charge to Income | (3,027,041) | (1,413,829) |
Ending balance | (26,488,655) | (23,461,614) |
Deferred Tax Liabilities Subsidiaries With Net Asset Position [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 23,254,928 | 17,488,512 |
Charge to Income | (2,196,867) | 5,766,416 |
Ending balance | 21,058,061 | 23,254,928 |
Deferred Tax Liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (206,686) | (4,559,273) |
Charge to Income | (5,223,908) | 4,352,587 |
Ending balance | $ (5,430,594) | $ (206,686) |
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, 2021 | 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 | 2021 | 2020 | 2019 | 2018 |
Amount | $ 2,783,951 | $ 1,238,597 | $ 294,615 | $ 40,550 |
Year Due | 2025 | 2024 | 2023 | |
Deferred Tax Assets | 895,695 | |||
Charged to Income [member] | ||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||
Amount | $ 1,210,189 | |||
Year Due | 2026 | |||
Deferred Tax Assets | $ 423,566 | $ 371,579 | $ 88,385 | $ 12,165 |
Deferred Income Tax Assets_Li_5
Deferred Income Tax Assets/Liabilities - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax inflation adjustment | $ (27,101,964) | $ (4,369,780) | $ (2,537,212) |
Banco Galicias [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax inflation adjustment | $ 10,578,421 |
Assets_Liabilities for Insura_3
Assets/Liabilities for Insurance Contracts - Assets Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [abstract] | ||
Premiums Receivable | $ 3,139,617 | $ 2,804,458 |
Credits with Reinsurers | 17,856 | 3,013 |
Fees Receivables | 15,085 | 11,728 |
Others | 44,959 | 26,639 |
Total | $ 3,217,517 | $ 2,845,838 |
Assets_Liabilities for Insura_4
Assets/Liabilities for Insurance Contracts - Liabilities Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [abstract] | ||
Debts with Insured Persons | $ 813,337 | $ 808,659 |
Debts with Reinsurers | 26,059 | 31,440 |
Debts with Co-insurers | 1,059 | 2,302 |
Debts with Producers | 590,368 | 560,996 |
Technical Commitments | 1,743,441 | 1,681,677 |
Others | 86,814 | 84,140 |
Pending Claims in charge of Reinsures | (70,449) | (58,343) |
Total | $ 3,190,629 | $ 3,110,871 |
Assets_Liabilities for Insura_5
Assets/Liabilities for Insurance Contracts - Summary of Debts with Insureds (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of types of insurance contracts [line items] | ||
Total | $ 813,337 | $ 808,659 |
Property & casualty [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 470,063 | 369,850 |
Property & casualty [member] | Direct Administrative Insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 278,589 | 204,885 |
Property & casualty [member] | Direct Insurance in Lawsuits [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 9,266 | 7,855 |
Property & casualty [member] | Direct Insurance in Mediation [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 2,467 | 2,954 |
Property & casualty [member] | Settled Claims Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 13,084 | 8,758 |
Property & casualty [member] | Pending Claims, Active Reinsurance and Retrocession [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 716 | 5,054 |
Property & casualty [member] | Claims Incurred but not Reported (IBNR) [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 146,423 | 140,344 |
Property & casualty [member] | Others [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Equity Insurance | 19,518 | 0 |
Life insurance contracts [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 343,150 | 438,809 |
Life insurance contracts [member] | Direct Administrative Insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 277,999 | 337,142 |
Life insurance contracts [member] | Direct Insurance in Lawsuits [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 20,964 | 18,789 |
Life insurance contracts [member] | Direct Insurance in Mediation [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 7,418 | 12,057 |
Life insurance contracts [member] | Settled Claims Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 1,619 | 39,980 |
Life insurance contracts [member] | Pending Claims, Active Reinsurance and Retrocession [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 21,584 | 18,035 |
Life insurance contracts [member] | Claims Incurred but not Reported (IBNR) [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 13,566 | 11,921 |
Life insurance contracts [member] | Redemptions Payable [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance | 0 | 885 |
Retirement insurance [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Retirement Insurance | 124 | 0 |
Retirement insurance [member] | Annuities Payable in Arrears [member] | ||
Disclosure of types of insurance contracts [line items] | ||
Retirement Insurance | $ 124 | $ 0 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | $ 84,879 | $ 81,641 |
Minimum Deposit Premium to Be Accrued | (57,761) | (47,899) |
Unpaid Losses to Be Borne by Reinsurers | (70,449) | (58,343) |
Total | (43,331) | $ (24,601) |
Debts with Reinsurers [Member] | ||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | 83,820 | |
Minimum Deposit Premium to Be Accrued | (57,761) | |
Unpaid Losses to Be Borne by Reinsurers | (70,449) | |
Total | (44,390) | |
Debts with co-insurers [member] | ||
Disclosure of net, gross and reinsurer's share for amounts arising from insurance contracts [line items] | ||
Current Account | 1,059 | |
Total | $ 1,059 |
Assets_Liabilities for Insura_7
Assets/Liabilities for Insurance Contracts - Summary of debts with producers (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Debts With Producers [Abstract] | ||
Checking Account—Producers | $ 104,984 | $ 92,425 |
Fees for Premiums Receivable | 472,659 | 440,333 |
Production Expenses Payable | 12,725 | 28,238 |
Total | $ 590,368 | $ 560,996 |
Assets_Liabilities for Insura_8
Assets/Liabilities for Insurance Contracts - Summary of Statutory Reserves (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Statutory Reserves [abstract] | ||
Ongoing and Similar Risk | $ 1,025,356 | $ 921,461 |
Premiums and Surcharges | 949,292 | 855,946 |
Premiums on Passive Reinsurance | (11,080) | (21,100) |
Active Reinsurance | 87,007 | 86,615 |
Insufficient Premiums | 137 | 0 |
Mathematical Reserves | 718,085 | 760,216 |
Mathematical Reserves for Individual Life Insurance | 224,411 | 232,971 |
Mathematical Reserves for Individual Retirement Insurance | 157,782 | 170,843 |
Mathematical Reserves of Life Annuities | 225,012 | 231,597 |
Provision for the Mathematical Reserve Recomposition | 20 | 21 |
Fluctuation Funds | 110,072 | 124,784 |
Others | 788 | |
Total | $ 1,743,441 | $ 1,681,677 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of types of insurance contracts [line items] | ||
Mortality Table | GAM 94 | GAM 94 |
Administrative Expenses | 399.21 for voluntary retirement and 2880.21 for annuities | 422.18 for voluntary retirement and 2640.45 for annuities |
United States of America, Dollars | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 14.77% | 14.77% |
Argentina, Pesos | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 7.58% | 7.58% |
Argentina, Pesos | Badlar Rate [Member] | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 75.00% | 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% | 34.22% |
Other Non-financial Assets - Su
Other Non-financial Assets - Summary of Other Non-financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | $ 10,398,787 | $ 11,523,519 |
Payments on behalf of third parties [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 890,797 | 673,257 |
Advances of fees to Directors and Syndics | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 6,875 | 15,168 |
Advances to Personnel | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 3,963 | 5,371 |
Tax Credits [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 1,380,337 | 3,334,086 |
Payments made in Advance [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 4,142,665 | 3,519,557 |
Advances for Purchase of Assets [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 981,417 | 735,958 |
Investment properties [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 857,416 | 876,470 |
Other Sundry Assets Measured at Cost [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 1,704,211 | 1,852,596 |
Assets Taken in Defense of Credits [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | 7,813 | 7,813 |
Others [member] | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other non-financial assets | $ 423,293 | $ 503,243 |
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, 2021 | Dec. 31, 2020 | |
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Total | $ 657 | $ 44,268 |
Real estate [member] | ||
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Property, Plant and Equipment | $ 657 | $ 44,268 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 1,035,957,929 | $ 1,020,886,486 |
Domestic currency deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 837,609,140 | 769,928,815 |
Domestic currency deposits [member] | Checking accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 239,632,269 | 158,529,340 |
Domestic currency deposits [member] | Savings accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 239,205,261 | 276,181,268 |
Domestic currency deposits [member] | Time deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 330,576,459 | 315,034,243 |
Domestic currency deposits [member] | Time deposits - UVA [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 15,441,189 | 8,400,426 |
Domestic currency deposits [member] | Others [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 3,031,493 | 2,912,666 |
Domestic currency deposits [member] | Interest and Adjustments [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 9,722,469 | 8,870,872 |
Foreign currency deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 198,348,789 | 250,957,671 |
Foreign currency deposits [member] | Savings accounts [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 163,281,031 | 202,279,348 |
Foreign currency deposits [member] | Time deposits [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 33,943,384 | 46,993,451 |
Foreign currency deposits [member] | Others [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,057,207 | 1,544,602 |
Foreign currency deposits [member] | Interest and Adjustments [member] | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 67,167 | $ 140,270 |
Other Financial Liabilities - S
Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 195,659,168 | $ 147,171,842 |
Creditors for Purchase to be Settled [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 30,874,858 | 497,799 |
Collections and Other Transactions on Behalf of Third Parties [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 14,934,005 | 16,713,307 |
Obligations for Purchase Financing [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 132,432,870 | 113,133,935 |
Creditors for Purchase of Foreign Currency to be Settled [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 3,048,154 | 764,106 |
Accrued Fees Payable [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 862,462 | 918,409 |
Sundry Items Subject to Minimum Cash [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 1,156,598 | 1,886,494 |
Sundry Items not Subject to Minimum Cash [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 7,514,509 | 5,634,324 |
Financial Liabilities for Guarantees and Sureties Granted Financial Guarantee Contracts [Member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 343,568 | 752,989 |
Cash or Equivalents for Purchases or Cash Sales to be Settled [Member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 100,842 | 15,778 |
Leases Liabilities [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 4,381,601 | 6,586,196 |
Other Financial Liabilities [member] | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 9,701 | $ 268,505 |
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, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 23,710,704 | $ 20,880,419 |
Argentine Central Bank Financing [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 42,326 | 32,253 |
Correspondents [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 3,468,765 | 2,909,160 |
Financing from Local Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 17,113,859 | 10,620,820 |
Financing from Foreign Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 345,754 | 0 |
Financing from International Financial Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 2,740,000 | $ 7,318,186 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | $ 23,710,704 | $ 20,880,419 |
Local Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | 17,156,185 | 10,653,073 |
International Institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Notional Amount | $ 6,554,519 | $ 10,227,346 |
Argentina, Pesos [member] | Local Institutions [member] | BICE [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | Ps. | |
Term | 2,080 days | |
Rate | 39.50% | |
Maturity Date | Sundry Dates | |
Notional Amount | $ 476,852 | |
Argentina, Pesos [member] | Local Institutions [member] | BICE [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | Ps. | |
Term | 1,655 days | |
Rate | 30.70% | |
Maturity Date | Sundry Dates | |
Notional Amount | $ 2,007,815 | |
Argentina, Pesos [member] | Local Institutions [member] | Call taken [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 | $ 316,977 | |
Argentina, Pesos [member] | Local Institutions [member] | Call taken [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.21 | |
Currency | Ps. | |
Term | 4 days | |
Rate | 29.50% | |
Maturity Date | 01.03.22 | |
Notional Amount | $ 100,000 | |
Argentina, Pesos [member] | Local Institutions [member] | Call taken [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.29.21 | |
Currency | Ps. | |
Term | 7 days | |
Rate | 30.00% | |
Maturity Date | 01.03.22 | |
Notional Amount | $ 500,000 | |
Argentina, Pesos [member] | Local Institutions [member] | Argentine Central Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.21 | 12.30.20 |
Currency | Ps. | Ps. |
Term | 4 days | 5 days |
Maturity Date | 01.03.22 | 01.04.21 |
Notional Amount | $ 42,326 | $ 32,253 |
Argentina, Pesos [member] | Local Institutions [member] | Other Lines [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | Ps. | |
Term | 11 days | |
Rate | 48.10% | |
Maturity Date | 01.11.21 | |
Notional Amount | $ 2 | |
Argentina, Pesos [member] | Local Institutions [member] | Agreements With Banks [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | 12.14.20 |
Currency | Ps. | Ps. |
Term | 364 days | 365 days |
Rate | 41.60% | 40.80% |
Maturity Date | Sundry Dates | 12.14.21 |
Notional Amount | $ 14,760,994 | $ 5,526,212 |
Argentina, Pesos [member] | International Institutions [member] | IFC [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Rate | 3.20% | |
US Dollar [member] | Local Institutions [member] | BICE [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | USD | |
Term | 1,449 days | |
Rate | 4.20% | |
Maturity Date | Sundry Dates | |
Notional Amount | $ 1,276,013 | |
US Dollar [member] | Local Institutions [member] | BICE [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | Sundry Dates | |
Currency | USD | |
Term | 1,705 days | |
Rate | 4.30% | |
Maturity Date | Sundry Dates | |
Notional Amount | $ 2,769,814 | |
US Dollar [member] | International Institutions [member] | Correspondents [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Date of Placement | 12.30.21 | 12.30.20 |
Currency | USD | USD |
Term | 5 days | 5 days |
Maturity Date | 01.03.22 | 01.04.21 |
Notional Amount | $ 3,468,765 | $ 2,909,160 |
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 | 1,789 days | 1,552 days |
Rate | 3.00% | |
Maturity Date | Sundry Dates | Sundry dates |
Notional Amount | $ 2,740,000 | $ 7,318,186 |
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 | 180 days | |
Rate | 4.10% | |
Maturity Date | Sundry Dates | |
Notional Amount | $ 345,754 |
Debt Securities - Summary of Br
Debt Securities - Summary of Breakdown of the Global Programs for the Issuance of Negotiable Obligations Outstanding (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
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 Naranja 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, 2021ARS ($) | Dec. 31, 2020ARS ($) | Dec. 31, 2021USD ($) | |
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Book Value | $ 27,971,776 | $ 25,771,621 | |
Grupo Financiero Galicia SA [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Book Value | $ 23,359,129 | $ 18,483,167 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Currency | USD | ||
Face Value | $ 250,000 | ||
Term | 120 months | ||
Maturity Date | 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 | ||
Currency | Ps. | ||
Face Value | $ 2,032,833 | ||
Type | Simple | ||
Term | 36 months | ||
Maturity Date | 04.26.21 | ||
Rate | Badlar + 3.5% | ||
Issuance Authorized by the C.N.V. | Apr. 18, 2018 | ||
Book Value | $ 2,614,785 | ||
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 | $ 1,336,150 | $ 3,992,390 | |
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 | ||
Currency | Ps. | ||
Face Value | $ 371,825 | ||
Type | Simple | ||
Term | 1461 days | ||
Maturity Date | 06.09.21 | ||
Rate | Minimum 25% Rate/ Badlar + 3.70% | ||
Issuance Authorized by the C.N.V. | May 29, 2017 | ||
Book Value | $ 546,781 | ||
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 | Jul. 8, 2020 | |
Currency | Ps. | Ps. | |
Face Value | $ 628,964 | $ 3,574,897 | |
Type | Simple | Simple | |
Term | 549 days | 549 days | |
Maturity Date | 01.08.22 | 01.08.22 | |
Rate | Badlar + 4% | Badlar + 4% | |
Issuance Authorized by the C.N.V. | Jun. 30, 2020 | Jun. 30, 2020 | |
Book Value | $ 663,543 | $ 5,447,500 | |
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 | $ 3,986,539 | ||
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 | $ 1,895,172 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Nine [Member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Aug. 19, 2021 | ||
Currency | Ps. | ||
Face Value | $ 1,625,968 | ||
Type | Simple | ||
Term | 12 months | ||
Maturity Date | 08.19.22 | ||
Rate | Badlar + 3% | ||
Issuance Authorized by the C.N.V. | May 6, 2021 | ||
Book Value | $ 1,669,855 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Ten[Member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Aug. 19, 2021 | ||
Currency | Ps. | ||
Face Value | $ 1,349,672 | ||
Type | Simple | ||
Term | 9 months | ||
Maturity Date | 05.19.22 | ||
Rate | Fixed rate of 41% | ||
Issuance Authorized by the C.N.V. | May 6, 2021 | ||
Book Value | $ 1,063,940 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Forty Six [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Feb. 17, 2021 | ||
Currency | Ps. | ||
Face Value | $ 4,000,000 | ||
Type | Simple | ||
Term | 365 days | ||
Maturity Date | 02.17.22 | ||
Rate | Badlar + 4.72% | ||
Issuance Authorized by the C.N.V. | Sep. 2, 2021 | ||
Book Value | $ 4,165,622 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Forty Seven [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Apr. 6, 2021 | ||
Currency | USD | ||
Face Value | $ 8,500 | ||
Type | Simple | ||
Term | 742 days | ||
Maturity Date | 04.28.23 | ||
Rate | Fixed rate of 7% | ||
Issuance Authorized by the C.N.V. | Mar. 23, 2021 | ||
Book Value | $ 879,406 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Forty Eight [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Apr. 26, 2021 | ||
Currency | Ps. | ||
Face Value | $ 5,001,000 | ||
Type | Simple | ||
Term | 365 days | ||
Maturity Date | 04.26.22 | ||
Rate | Badlar + 5% | ||
Issuance Authorized by the C.N.V. | Apr. 26, 2021 | ||
Book Value | $ 5,256,324 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Forty Nine Series One [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Aug. 13, 2021 | ||
Currency | Ps. | ||
Face Value | $ 2,712,000 | ||
Type | Simple | ||
Term | 365 days | ||
Maturity Date | 08.13.22 | ||
Rate | Badlar + 5.5% | ||
Issuance Authorized by the C.N.V. | Aug. 13, 2021 | ||
Book Value | $ 2,471,656 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Forty Nine Series Two [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Aug. 13, 2021 | ||
Currency | Ps. | ||
Face Value | $ 1,672,844 | ||
Type | Simple | ||
Term | 720 days | ||
Maturity Date | 08.13.23 | ||
Rate | Badlar + 7.24% | ||
Issuance Authorized by the C.N.V. | Aug. 13, 2021 | ||
Book Value | $ 1,726,485 | ||
Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | |||
Placement Date | Nov. 10, 2021 | ||
Currency | Ps. | ||
Face Value | $ 4,050,000 | ||
Type | Simple | ||
Term | 365 days | ||
Maturity Date | 11.10.22 | ||
Rate | Badlar + 5% | ||
Issuance Authorized by the C.N.V. | Nov. 10, 2021 | ||
Book Value | $ 4,126,148 |
Debt Securities - Additional In
Debt Securities - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Carrying amount | $ 27,971,776 | $ 25,771,621 |
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. | |
Green Bond [member] | ||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||
Carrying amount | $ 4,612,647 | $ 7,288,454 |
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 | |
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, 2021ARS ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020ARS ($) |
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Book Value | $ 27,971,776 | $ 25,771,621 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | $ 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 | ||
Book Value | 8,045 | ||
Issuance of Own Debt Securities Class Thirty Seven [member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 9,820 | 9,620 | |
Book Value | 54,569 | 160,679 | |
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 | ||
Book Value | 29,280 | ||
Own debt securities repurchases [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Book Value | 1,371,996 | ||
Own debt securities repurchases [member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Book Value | 750,698 | ||
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 | 124,085 | ||
Issuance of Own Debt Securities Class Forty Four [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 70,000 | 235,000 | |
Book Value | 22,618 | 380,451 | |
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 | $ 669,456 | ||
Issuance Of Own Debt Securities Class Forty six [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 38,000 | ||
Book Value | 39,698 | ||
Issuance Of Own Debt Securities Class Forty eight [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 99,300 | ||
Book Value | 102,788 | ||
Issuance Of Own Debt Securities Class Forty nine series one [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 355,000 | ||
Book Value | 371,688 | ||
Issuance Of Own Debt Securities Class Forty nine series two [Member] | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 27,000 | ||
Book Value | 28,420 | ||
Issuance Of Own Debt Securities Class fifty | Tarjeta Naranja S.A. [member] | |||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | |||
Nominal Value | 125,479 | ||
Book Value | $ 130,917 |
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, 2021ARS ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020ARS ($) | |
Disclosure of detailed information about borrowings [line items] | |||
Book Value | $ 26,275,536 | $ 32,684,216 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Placement Date | Jul. 19, 2016 | ||
Currency | USD | ||
Class No. | II | ||
Notional Amount | $ 250,000 | ||
Term | 120 months | ||
Maturity Date | 07.19.26 | ||
Rate | (2.00%) | (2.00%) | |
Issuance Authorized by the C.N.V. | Jun. 23, 2016 | ||
Book Value | $ 26,275,536 | $ 32,684,216 |
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, 2021 | |
Maturing on July 19 ,2026 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Percentage of principal amount | 100.00% |
Maturing on July 19, 2021 [member] | |
Disclosure of detailed information about borrowings [line items] | |
Interest rate | 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% |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other provisions [abstract] | ||
For Administrative, Disciplinary and Criminal Penalties | $ 0 | $ 8,009 |
For Termination Benefits | 262,846 | 333,315 |
Others | 4,118,753 | 5,358,680 |
Total | $ 4,381,599 | $ 5,700,004 |
Other Non-financial Liabiliti_3
Other Non-financial Liabilities - Summary of Other Non-financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 40,225,155 | $ 38,154,644 |
Creditors for sale of assets [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 379,702 | 897,319 |
Tax withholdings and collections payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 12,754,525 | 10,196,331 |
Payroll and Social Contributions Payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 8,913,600 | 10,652,292 |
Withholdings on Payroll Payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 530,925 | 560,350 |
Fess to Directors and Syndics [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 237,007 | 334,366 |
Value added tax [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 1,872,488 | 1,284,863 |
Sundry creditors [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 6,919,749 | 6,712,568 |
Tax payable [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 5,963,974 | 4,937,142 |
Obligations Arising from Contracts with Customers [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 2,152,830 | 2,035,750 |
Retirement payment orders pending settlement [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 119,351 | 136,735 |
Other non-financial liabilities [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 381,004 | $ 406,928 |
Other Non-financial Liabiliti_4
Other Non-financial Liabilities - Additional Information (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Deferred income other than contract liabilities | $ 1,855,889 | $ 1,682,386 |
Other Non-financial Liabiliti_5
Other Non-financial Liabilities - Summary of Estimated Use of Liability (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | $ 1,373,573,830 | $ 1,317,638,103 |
Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 1,855,889 | |
Not later than one year [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 937,709 | |
Later than one year and not later than two years [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | 457,843 | |
Later than Two Years [member] | Quiero [member] | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities | $ 460,337 |
Capital Stock - Additional Info
Capital Stock - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021ARS ($)shares | |
Disclosure of Capital Stock [line items] | |
Expenses related to the capital increase | $ | $ 19,847 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Transactions In Foreign Currency [line items] | |||
Gains losses on exchange differences on translation recognised in profit or loss | $ 4,494,719 | $ 10,637,532 | $ 17,858,586 |
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 | 2,066,195 | 7,699,878 | 25,983,226 |
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 | $ 2,428,524 | $ 2,937,654 | $ (8,124,640) |
Other Operating Income - Summar
Other Operating Income - Summary of Other Operating Income (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 35,836,233 | $ 33,694,144 | $ 43,529,669 |
Fees for Product Package [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 8,855,518 | 9,504,399 | 8,580,513 |
Other Adjustments and Interest on sundry Credits [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 7,080,332 | 7,918,443 | 4,694,722 |
Rental of Safety Deposit Boxes [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 2,027,792 | 1,954,995 | 1,525,192 |
Other Financial Income [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 468,544 | 874,271 | 2,486,420 |
Other income from services [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 7,585,940 | 6,396,211 | 5,043,328 |
Income for sale of non-currents assets held for sale [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 14,605,635 | ||
Reversed allowances [Member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 1,010,670 | 2,566,042 | 131,565 |
Other [member] | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 8,807,437 | $ 4,479,783 | $ 6,462,294 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of types of insurance contracts [abstract] | |||
Premiums and Surcharges Accrued | $ 12,228,062 | $ 11,757,410 | $ 11,482,456 |
Claims Accrued | (2,240,917) | (1,700,907) | (1,589,058) |
Redemptions | (31,849) | (25,425) | (27,581) |
Fixed and Periodic Annuities | (18,868) | (20,510) | (23,786) |
Production and Operating Expenses | (2,450,832) | (1,773,954) | (2,459,131) |
Other Income and Expenses | (135,650) | (98,851) | (110,684) |
Total | $ 7,349,946 | $ 8,137,763 | $ 7,272,216 |
Loan Loss Charges - Summary of
Loan Loss Charges - Summary of Loan Loss Charges (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Loan Loss Charges [Abstract] | |||
Expected credit loss allowance | $ 20,382,127 | $ 50,306,792 | $ 43,670,035 |
Direct charge offs | 2,880,454 | 2,567,431 | 1,611,797 |
Total | $ 23,262,581 | $ 52,874,223 | $ 45,281,832 |
Personnel Expenses - Summary of
Personnel Expenses - Summary of Personnel Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ 46,444,271 | $ 48,037,327 | $ 50,240,863 |
Payroll [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 27,981,483 | 29,871,087 | 30,949,799 |
Social contributions on payroll [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 6,531,544 | 6,872,376 | 6,793,541 |
Personnel Compensations and Rewards [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 9,698,832 | 8,772,365 | 9,697,005 |
Services for Personnel [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 1,183,790 | 1,155,040 | 1,468,250 |
Other Short-term Personnel Expenses [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | 900,868 | 1,179,677 | 1,127,034 |
Other Long-term Personnel Expenses [member] | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ 147,754 | $ 186,782 | $ 205,234 |
Administrative Expenses - Summa
Administrative Expenses - Summary of Expenses by Nature and Function (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ 45,203,534 | $ 46,960,750 | $ 50,142,274 |
Fees and Remunerations for Services [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,956,799 | 4,526,498 | 6,352,108 |
Directors and syndics fees [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 391,080 | 713,371 | 335,701 |
Advertising and Marketing [Member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,310,136 | 2,418,915 | 4,467,170 |
Taxes [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 11,610,410 | 10,946,230 | 10,472,143 |
Maintenance and Repairs of Assets and Systems [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 8,117,717 | 7,183,943 | 5,825,779 |
Electricity and communications [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,876,293 | 3,448,805 | 3,749,480 |
Representation and Travel Expenses [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 67,543 | 88,100 | 259,985 |
Stationery and office supplies [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 404,460 | 633,019 | 775,809 |
Rentals [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 484,973 | 466,180 | 204,969 |
Administrative Services under Contract [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 7,560,743 | 7,194,363 | 6,673,647 |
Security [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 1,158,881 | 1,754,416 | 2,011,152 |
Insurance [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 479,377 | 372,474 | 271,604 |
Armored Transportation Services [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | 2,839,044 | 2,353,311 | 4,230,945 |
Others [member] | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ 3,946,078 | $ 4,861,125 | $ 4,511,782 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation amortization and impairment [abstract] | |||
Depreciation of Property, Plant and Equipment | $ 8,422,576 | $ 7,808,724 | $ 7,516,828 |
Amortization of Organization and Development Expenses | 6,065,909 | 4,512,571 | 2,882,099 |
Depreciation of other intangible assets | 45 | ||
Others | 8,952 | 183,142 | 8,413 |
Total | $ 14,497,482 | $ 12,504,437 | $ 10,407,340 |
Other Operating Expenses - Summ
Other Operating Expenses - Summary of Other Operating Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 53,834,069 | $ 46,132,615 | $ 52,954,579 |
Turnover tax [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 32,136,710 | 23,641,712 | 26,888,650 |
Contributions to the Deposit Insurance Scheme [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 1,611,354 | 1,598,913 | 1,773,596 |
Charges for Other Provisions [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 1,448,560 | 4,330,205 | 3,494,227 |
Claims [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 1,442,688 | 566,501 | 690,953 |
Other Financial Expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 431,696 | 3,771,675 | |
Interest on leases [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 530,330 | 602,031 | 771,521 |
Credit-card-relates expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 6,473,019 | 6,772,562 | 9,126,526 |
Other Expenses from Services [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 8,399,254 | 6,559,676 | 4,496,278 |
Other expenses [member] | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 1,792,154 | $ 1,629,319 | $ 1,941,153 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Major components of tax expense (income) [abstract] | |||
Income Before Income Tax for the Year | $ 47,622,602 | $ 69,377,872 | $ 83,825,371 |
Current Tax Rate | 35.00% | 30.00% | 30.00% |
Income for the Year at Tax Rate | $ (16,667,911) | $ (20,813,362) | $ (25,147,611) |
- Income for Equity Instruments | (45,204) | (56,627) | |
- Untaxed Income | 202,679 | 251,935 | 196,511 |
- Donations and Other Non-deductible Expenses | (4,941) | (48,328) | (32,645) |
- Other | 234,292 | (4,530,586) | (125,416) |
- Inflation effect | (27,709,518) | (19,060,769) | (23,249,228) |
- Tax Adjustment | 443,643 | 1,049,733 | (176,309) |
- Tax inflation adjustment | 27,101,964 | 4,369,780 | 2,537,212 |
- Tax inflation adjustment deferral | 7,684,011 | 11,946,153 | |
Total Income Tax Charge for the Year | (16,444,996) | (31,154,213) | (34,051,333) |
Current Income Tax | (12,966,517) | (40,218,255) | (31,335,461) |
Deferred Tax Charge | (4,264,741) | 12,490,174 | 4,152,811 |
Update of the charge tax | (832,543) | (4,438,430) | (6,774,834) |
Tax Return adjustment from previous fiscal year | 1,618,805 | 1,012,298 | (93,849) |
Total Income Tax Charge for the Year | $ (16,444,996) | $ (31,154,213) | $ (34,051,333) |
Income Tax_Deferred Tax - Sum_2
Income Tax/Deferred Tax - Summary of Current Income Tax Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Major components of tax expense (income) [abstract] | |||
Current Income Tax | $ (12,966,517) | $ (40,218,255) | $ (31,335,461) |
Tax Advances | 3,817,169 | 17,233,657 | 10,139,883 |
Current Income Tax Liabilities | $ (9,149,348) | $ (22,984,598) | $ (21,195,578) |
Income Tax_Deferred Tax - Addit
Income Tax/Deferred Tax - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | $ 47,501,366 | $ 69,882,248 | $ 82,514,582 |
Income Tax Slab Rate One [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | $ 5,000,000 | ||
Income Tax Slab Rate Two [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Fixed amount Rate | 30.00% | ||
Fixed amount | $ 1,250,000 | ||
Income Tax Slab Rate Three [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Income tax rate | 25.00% | ||
Fixed amount Rate | 35.00% | ||
Fixed amount | $ 14,750,000 | ||
New Graduated Income Tax Rate Structure [Member] | Income Tax Slab Rate Two [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | 5,000,000 | ||
New Graduated Income Tax Rate Structure [Member] | Income Tax Slab Rate Two [Member] | Bottom of range [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | 5,000,000 | ||
New Graduated Income Tax Rate Structure [Member] | Income Tax Slab Rate Two [Member] | Top of range [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | 50,000,000 | ||
New Graduated Income Tax Rate Structure [Member] | Income Tax Slab Rate Three [Member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | 50,000,000 | ||
New Graduated Income Tax Rate Structure [Member] | Income Tax Slab Rate Three [Member] | Bottom of range [member] | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Rate on the excess | $ 50,000,000 | ||
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% | ||
Tax rate on dividends | 7.00% |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - ARS ($) | Apr. 27, 2021 | Sep. 22, 2020 | Apr. 25, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 05, 2020 |
Disclosure Of Dividends [Line Items] | ||||||
Dividend | $ 1,925,903,000 | $ 2,000,000,000 | $ 5,467,754,000 | |||
Dividend per share | $ 1.02 | $ 1.40 | ||||
Retained earnings | (89,040,327,000) | $ (154,345,775,000) | ||||
Optional Reserve for Future Income Distribution [member] | ||||||
Disclosure Of Dividends [Line Items] | ||||||
Dividend | $ 1,500,000,000 | |||||
Dividend per share | $ 1.19 | |||||
Retained earnings | 7,512,568,000 | $ 4,000,000,000 | ||||
Increase decrease in reserve | $ 1,700,000,000 | $ 2,856,661,000 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Earnings Per Share (Detail) shares in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2021ARS ($)shares | Dec. 31, 2021$ / shares | Dec. 31, 2020ARS ($)shares | Dec. 31, 2020$ / shares | Dec. 31, 2019ARS ($)shares | Dec. 31, 2019$ / shares | |
Earnings per share [abstract] | ||||||
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | $ | $ 31,094,407 | $ 37,993,605 | $ 48,718,493 | |||
Weighted Average Ordinary Shares | shares | 1,474,692 | 1,442,740 | 1,426,765 | |||
Earnings per Share | $ / shares | $ 21.09 | $ 26.33 | $ 34.15 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2021Segments | |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Net Income from interest | $ 109,277,538 | $ 115,794,848 | $ 71,572,558 |
Net fee Income | 57,789,579 | 55,055,654 | 57,709,872 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 95,609,835 | 104,619,587 | 149,660,888 |
Income from Derecognition of Assets Measured at Amortized Cost | 16,531 | (4,723) | 451,016 |
Exchange rate differences on gold and foreign currency | 4,494,719 | 10,637,532 | 17,858,586 |
Other Operating Income | 35,836,233 | 33,694,144 | 43,529,669 |
Income from Insurance Business | 7,349,946 | 8,137,763 | 7,272,216 |
Expected credit loss allowance | (23,262,581) | (52,874,223) | (45,281,832) |
Personnel Expenses | (46,444,271) | (48,037,327) | (50,240,863) |
Administrative Expenses | (45,203,534) | (46,960,750) | (50,142,274) |
Depreciation and Impairment of Assets | (14,497,482) | (12,504,437) | (10,407,340) |
Other Operating Expenses | (53,834,069) | (46,132,615) | (52,954,579) |
Loss on net monetary position | (79,501,926) | (51,354,448) | (56,513,335) |
Operating Income | 47,630,518 | 70,071,005 | 82,514,582 |
Share of profit from Associates and Joint Ventures | (129,152) | (188,757) | |
Income before Taxes from Continuing Operations | 47,501,366 | 69,882,248 | 82,514,582 |
Income Tax from Continuing Operations | (16,406,959) | (31,373,771) | (33,568,004) |
Net Income from Continuing Operations | 31,094,407 | 38,508,477 | 48,946,578 |
Net Income for the Year | 31,094,407 | 38,508,477 | 48,946,578 |
Other Comprehensive Income (Loss) | 83,199 | (284,818) | 827,460 |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 31,177,606 | 37,708,787 | 49,545,953 |
Net Income for the Year Attributable to Non-controlling Interests | 0 | 514,872 | 228,085 |
Operating segments [member] | Bank [Member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 68,866,522 | 88,800,537 | 48,968,694 |
Net fee Income | 31,875,806 | 31,667,168 | 32,845,065 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 95,560,838 | 99,600,814 | 143,624,715 |
Income from Derecognition of Assets Measured at Amortized Cost | 16,335 | (4,723) | 451,016 |
Exchange rate differences on gold and foreign currency | 3,693,707 | 9,093,880 | 17,054,670 |
Other Operating Income | 26,534,318 | 25,920,591 | 35,813,489 |
Expected credit loss allowance | (14,491,902) | (44,822,871) | (33,207,820) |
Personnel Expenses | (31,173,893) | (33,342,596) | (36,684,273) |
Administrative Expenses | (32,585,600) | (32,762,463) | (36,397,335) |
Depreciation and Impairment of Assets | (10,822,309) | (9,232,725) | (7,579,792) |
Other Operating Expenses | (40,565,868) | (35,991,425) | (43,102,101) |
Loss on net monetary position | (64,248,964) | (41,001,355) | (44,775,465) |
Operating Income | 32,658,990 | 57,924,832 | 77,010,863 |
Share of profit from Associates and Joint Ventures | 19,926 | 46,244 | 118,103 |
Income before Taxes from Continuing Operations | 32,678,916 | 57,971,076 | 77,128,966 |
Income Tax from Continuing Operations | (9,823,581) | (26,385,399) | (31,338,764) |
Net Income from Continuing Operations | 22,855,335 | 31,585,677 | 45,790,202 |
Net Income for the Year | 22,855,335 | 31,585,677 | 45,790,202 |
Other Comprehensive Income (Loss) | 75,213 | (312,174) | 849,481 |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 22,930,548 | 31,273,503 | 46,639,683 |
Net Income for the Year Attributable to Non-controlling Interests | 0 | ||
Operating segments [member] | Naranja X [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 37,434,237 | 25,544,965 | 20,027,327 |
Net fee Income | 27,713,054 | 25,036,545 | 26,678,156 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 418,401 | 3,002,283 | 5,290,885 |
Income from Derecognition of Assets Measured at Amortized Cost | 196 | ||
Exchange rate differences on gold and foreign currency | 146,056 | 558,967 | 250,412 |
Other Operating Income | 5,939,643 | 5,244,696 | 7,429,326 |
Expected credit loss allowance | (8,766,660) | (8,076,538) | (12,209,221) |
Personnel Expenses | (12,430,952) | (12,196,004) | (11,386,896) |
Administrative Expenses | (10,899,738) | (12,457,273) | (12,449,362) |
Depreciation and Impairment of Assets | (3,272,435) | (2,819,842) | (2,352,147) |
Other Operating Expenses | (12,787,780) | (9,764,917) | (9,627,485) |
Loss on net monetary position | (13,006,936) | (8,198,158) | (9,065,986) |
Operating Income | 10,487,086 | 5,874,724 | 2,585,009 |
Income before Taxes from Continuing Operations | 10,487,086 | 5,874,724 | 2,585,009 |
Income Tax from Continuing Operations | (4,264,030) | (2,615,329) | (1,242,790) |
Net Income from Continuing Operations | 6,223,056 | 3,259,395 | 1,342,219 |
Net Income for the Year | 6,223,056 | 3,259,395 | 1,342,219 |
Other Comprehensive Income (Loss) | (317) | 317 | |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 6,222,739 | 3,260,734 | 1,341,674 |
Net Income for the Year Attributable to Non-controlling Interests | 0 | (1,022) | 545 |
Operating segments [member] | Insurance [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 2,331,884 | 1,097,180 | 1,727,691 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | (1,511,149) | 86,037 | 147,162 |
Exchange rate differences on gold and foreign currency | 39,135 | (41,284) | (5,686) |
Other Operating Income | 378,520 | 761,735 | 917,965 |
Income from Insurance Business | 4,250,295 | 5,110,454 | 3,665,408 |
Expected credit loss allowance | (4,019) | 25,186 | 135,209 |
Personnel Expenses | (1,614,772) | (1,837,805) | (1,674,014) |
Administrative Expenses | (813,493) | (824,356) | (902,506) |
Depreciation and Impairment of Assets | (363,399) | (408,143) | (439,888) |
Other Operating Expenses | (13,743) | (6,577) | (756) |
Loss on net monetary position | (661,091) | (1,006,921) | (1,432,184) |
Operating Income | 2,018,168 | 2,955,506 | 2,138,401 |
Income before Taxes from Continuing Operations | 2,018,168 | 2,955,506 | 2,138,401 |
Income Tax from Continuing Operations | (832,688) | (996,819) | (835,974) |
Net Income from Continuing Operations | 1,185,480 | 1,958,687 | 1,302,427 |
Net Income for the Year | 1,185,480 | 1,958,687 | 1,302,427 |
Other Comprehensive Income (Loss) | 12,296 | 26,800 | (22,021) |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 1,197,776 | 1,985,487 | 1,280,406 |
Net Income for the Year Attributable to Non-controlling Interests | 0 | ||
Operating segments [member] | Other businesses [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 79,211 | 10,333 | 108,825 |
Net fee Income | (26,882) | (9,224) | 746 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 1,480,627 | 1,931,818 | 598,126 |
Exchange rate differences on gold and foreign currency | 615,821 | 1,025,969 | 559,190 |
Other Operating Income | 4,568,647 | 3,568,573 | 1,748,021 |
Personnel Expenses | (1,224,654) | (660,922) | (495,680) |
Administrative Expenses | (1,045,232) | (1,099,300) | (656,529) |
Depreciation and Impairment of Assets | (39,339) | (43,727) | (35,513) |
Other Operating Expenses | (474,002) | (391,521) | (238,248) |
Loss on net monetary position | (1,584,935) | (1,148,014) | (1,239,700) |
Operating Income | 2,349,262 | 3,183,985 | 349,238 |
Income before Taxes from Continuing Operations | 2,349,262 | 3,183,985 | 349,238 |
Income Tax from Continuing Operations | (1,486,660) | (1,376,224) | (150,476) |
Net Income from Continuing Operations | 862,602 | 1,807,761 | 198,762 |
Net Income for the Year | 862,602 | 1,807,761 | 198,762 |
Other Comprehensive Income (Loss) | (3,993) | 239 | |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | 858,609 | 1,808,000 | 198,762 |
Net Income for the Year Attributable to Non-controlling Interests | 0 | ||
Adjustments [member] | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 565,684 | 341,833 | 740,021 |
Net fee Income | (1,772,399) | (1,638,835) | (1,814,095) |
Net Income from Financial Instruments measured at fair value through Profit or Loss | (338,882) | (1,365) | |
Other Operating Income | (1,584,895) | (1,801,451) | (2,379,132) |
Income from Insurance Business | 3,099,651 | 3,027,309 | 3,606,808 |
Administrative Expenses | 140,529 | 182,642 | 263,458 |
Other Operating Expenses | 7,324 | 21,825 | 14,011 |
Operating Income | 117,012 | 131,958 | 431,071 |
Share of profit from Associates and Joint Ventures | (149,078) | (235,001) | (118,103) |
Income before Taxes from Continuing Operations | (32,066) | (103,043) | 312,968 |
Income Tax from Continuing Operations | 0 | ||
Net Income from Continuing Operations | (32,066) | (103,043) | 312,968 |
Net Income for the Year | (32,066) | (103,043) | 312,968 |
Net Income (Loss) for the Year Attributable to Parent Company´s Owners | (32,066) | (618,937) | 85,428 |
Net Income for the Year Attributable to Non-controlling Interests | $ 0 | $ 515,894 | $ 227,540 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Operating Segments ( Balance Sheet ) (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and Due from Banks | $ 237,426,843 | $ 264,787,060 |
Debt Securities at fair value through profit or loss | 235,936,898 | 234,592,823 |
Derivative Financial Instruments | 1,247,078 | 3,267,935 |
Repurchase Transactions | 203,205,457 | 92,067,820 |
Other Financial Assets | 23,371,926 | 15,235,484 |
Loans and Other Financing | 744,433,702 | 794,608,259 |
Other Debt Securities | 94,356,999 | 34,822,804 |
Financial Assets Pledged as Collateral | 35,235,668 | 28,252,414 |
Current Income Tax Assets | 76,381 | 297,497 |
Investments in Equity Instruments | 1,251,934 | 8,621,309 |
Equity investments in Associates and Joint Ventures | 169,347 | 134,552 |
Property, Plant and Equipment | 62,196,024 | 66,008,914 |
Intangible Assets | 21,231,442 | 21,839,477 |
Deferred Income Tax Assets | 4,286,395 | 13,905,649 |
Assets for Insurance Contracts | 3,217,517 | 2,845,838 |
Other Non-financial Assets | 10,398,787 | 11,523,519 |
Non-current Assets Held for Sale | 657 | 44,268 |
TOTAL ASSETS | 1,678,043,055 | 1,592,855,622 |
Liabilities | ||
Deposits | 1,035,957,929 | 1,020,886,486 |
Liabilities at fair value through Profit or Loss | 75,674 | 0 |
Derivative Financial Instruments | 712,129 | 86,716 |
Repurchase Transactions | 324,119 | 0 |
Other Financial Liabilities | 195,659,168 | 147,171,842 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 23,710,704 | 20,880,419 |
Debt Securities | 27,971,776 | 25,771,621 |
Current Income Tax Liabilities | 9,658,818 | 22,984,598 |
Subordinated Debt Securities | 26,275,536 | 32,684,216 |
Provisions | 4,381,599 | 5,700,004 |
Deferred Income Tax Liabilities | 5,430,594 | 206,686 |
Liabilities for Insurance Contracts | 3,190,629 | 3,110,871 |
Other Non-financial Liabilities | 40,225,155 | 38,154,644 |
TOTAL LIABILITIES | 1,373,573,830 | 1,317,638,103 |
Operating segments [member] | Bank [Member] | ||
Assets | ||
Cash and Due from Banks | 231,726,182 | 260,085,728 |
Debt Securities at fair value through profit or loss | 236,287,343 | 235,306,384 |
Derivative Financial Instruments | 1,585,960 | 3,267,935 |
Repurchase Transactions | 203,165,504 | 92,067,820 |
Other Financial Assets | 17,832,351 | 10,445,570 |
Loans and Other Financing | 575,585,892 | 663,096,109 |
Other Debt Securities | 92,235,283 | 32,375,095 |
Financial Assets Pledged as Collateral | 34,926,900 | 28,135,063 |
Current Income Tax Assets | 0 | |
Investments in Equity Instruments | 1,251,928 | 8,618,111 |
Equity investments in Associates and Joint Ventures | 600,775 | 725,320 |
Property, Plant and Equipment | 54,881,411 | 57,644,137 |
Intangible Assets | 19,041,320 | 19,396,092 |
Deferred Income Tax Assets | 0 | 8,000,987 |
Other Non-financial Assets | 6,359,559 | 8,728,364 |
Non-current Assets Held for Sale | 657 | 44,268 |
TOTAL ASSETS | 1,475,481,065 | 1,427,936,983 |
Liabilities | ||
Deposits | 1,040,723,530 | 1,023,463,093 |
Derivative Financial Instruments | 712,129 | 86,716 |
Repurchase Transactions | 324,119 | |
Other Financial Liabilities | 94,983,619 | 61,765,321 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 8,949,710 | 15,384,243 |
Debt Securities | 7,346,442 | 11,930,540 |
Current Income Tax Liabilities | 5,185,675 | 19,668,582 |
Subordinated Debt Securities | 26,275,536 | 32,684,216 |
Provisions | 4,036,523 | 5,181,417 |
Deferred Income Tax Liabilities | 4,793,600 | |
Other Non-financial Liabilities | 30,056,744 | 28,611,554 |
TOTAL LIABILITIES | 1,223,387,627 | 1,198,775,682 |
Operating segments [member] | Naranja X [member] | ||
Assets | ||
Cash and Due from Banks | 5,463,828 | 3,303,721 |
Debt Securities at fair value through profit or loss | 208,276 | 138,507 |
Repurchase Transactions | 39,953 | |
Other Financial Assets | 2,468,949 | 1,935,002 |
Loans and Other Financing | 175,549,628 | 133,652,457 |
Other Debt Securities | 3,012 | 263,327 |
Financial Assets Pledged as Collateral | 16,564 | 13,775 |
Current Income Tax Assets | 0 | 54,704 |
Property, Plant and Equipment | 6,313,146 | 7,334,422 |
Intangible Assets | 2,084,058 | 2,315,446 |
Deferred Income Tax Assets | 3,516,571 | 5,471,788 |
Other Non-financial Assets | 2,042,676 | 1,094,529 |
TOTAL ASSETS | 197,706,661 | 155,577,678 |
Liabilities | ||
Deposits | 27,043 | 9 |
Derivative Financial Instruments | 338,882 | |
Other Financial Liabilities | 96,273,604 | 83,506,934 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 23,389,635 | 8,746,648 |
Debt Securities | 21,376,032 | 15,213,077 |
Current Income Tax Liabilities | 3,478,634 | 1,795,866 |
Provisions | 163,559 | 218,953 |
Other Non-financial Liabilities | 7,850,368 | 7,510,035 |
TOTAL LIABILITIES | 152,897,757 | 116,991,522 |
Operating segments [member] | Insurance [member] | ||
Assets | ||
Cash and Due from Banks | 53,530 | 59,791 |
Debt Securities at fair value through profit or loss | 36,976 | 0 |
Other Financial Assets | 434,838 | 1,230,331 |
Loans and Other Financing | 7,403 | 714,203 |
Other Debt Securities | 2,244,297 | 2,441,973 |
Financial Assets Pledged as Collateral | 0 | |
Current Income Tax Assets | 62,374 | 242,793 |
Property, Plant and Equipment | 907,462 | 976,121 |
Intangible Assets | 49,833 | 110,814 |
Deferred Income Tax Assets | 388,570 | 266,626 |
Assets for Insurance Contracts | 3,217,517 | 2,846,664 |
Other Non-financial Assets | 98,013 | 41,316 |
TOTAL ASSETS | 7,500,813 | 8,930,632 |
Liabilities | ||
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 0 |
Current Income Tax Liabilities | 214,130 | 673,483 |
Provisions | 155,292 | 205,296 |
Deferred Income Tax Liabilities | 255,511 | |
Liabilities for Insurance Contracts | 3,191,514 | 3,110,906 |
Other Non-financial Liabilities | 952,610 | 1,035,550 |
TOTAL LIABILITIES | 4,769,057 | 5,025,235 |
Operating segments [member] | Other businesses [member] | ||
Assets | ||
Cash and Due from Banks | 4,473,968 | 3,439,777 |
Debt Securities at fair value through profit or loss | 29,408 | 262,337 |
Other Financial Assets | 2,635,788 | 1,627,085 |
Loans and Other Financing | 2,552,902 | 2,209,417 |
Financial Assets Pledged as Collateral | 292,204 | 103,576 |
Current Income Tax Assets | 14,007 | 0 |
Investments in Equity Instruments | 6 | 3,198 |
Property, Plant and Equipment | 94,005 | 54,234 |
Intangible Assets | 6,735,316 | 6,696,209 |
Deferred Income Tax Assets | 381,254 | 166,248 |
Other Non-financial Assets | 1,898,539 | 1,659,310 |
TOTAL ASSETS | 19,107,397 | 16,221,391 |
Liabilities | ||
Liabilities at fair value through Profit or Loss | 75,674 | |
Other Financial Liabilities | 4,504,207 | 3,181,178 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 2 |
Current Income Tax Liabilities | 780,379 | 846,667 |
Provisions | 26,225 | 94,338 |
Deferred Income Tax Liabilities | 381,483 | 206,686 |
Other Non-financial Liabilities | 1,393,789 | 1,058,004 |
TOTAL LIABILITIES | 7,161,757 | 5,386,875 |
Adjustments [member] | ||
Assets | ||
Cash and Due from Banks | (4,290,665) | (2,101,957) |
Debt Securities at fair value through profit or loss | (625,105) | (1,114,405) |
Derivative Financial Instruments | (338,882) | |
Other Financial Assets | 0 | (2,504) |
Loans and Other Financing | (9,262,123) | (5,063,927) |
Other Debt Securities | (125,593) | (257,591) |
Equity investments in Associates and Joint Ventures | (431,428) | (590,768) |
Intangible Assets | (6,679,085) | (6,679,084) |
Assets for Insurance Contracts | 0 | (826) |
TOTAL ASSETS | (21,752,881) | (15,811,062) |
Liabilities | ||
Deposits | (4,792,644) | (2,576,616) |
Derivative Financial Instruments | (338,882) | |
Other Financial Liabilities | (102,262) | (1,281,591) |
Financing Received from the Argentine Central Bank and Other Financial Institutions | (8,628,641) | (3,250,474) |
Debt Securities | (750,698) | (1,371,996) |
Liabilities for Insurance Contracts | (885) | (35) |
Other Non-financial Liabilities | (28,356) | (60,499) |
TOTAL LIABILITIES | $ (14,642,368) | $ (8,541,211) |
Capital Management and Risk P_3
Capital Management and Risk Policies - Summary of Regulatory Capital (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of regulatory capital [abstract] | ||
Basic Shareholders' Equity | $ 257,700,315 | $ 162,178,965 |
(Deductible Items) | (35,563,896) | (32,594,504) |
Equity Tier 1 | 222,136,419 | 129,584,461 |
Complementing shareholders' Equity | 29,006,025 | 27,477,066 |
Equity Tier 2 | 29,006,025 | 27,477,066 |
Regulatory Capital (RPC) | $ 251,142,444 | $ 157,061,527 |
Capital Management and Risk P_4
Capital Management and Risk Policies - Summary of Breakdown of Minimum Capital Requirement (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of regulatory capital [abstract] | ||
Credit Risk | $ 63,920,141 | $ 42,457,859 |
Market Risk | 1,133,653 | 1,419,264 |
Operational Risk | 20,190,530 | 12,192,078 |
Minimum Capital Requirement | 85,244,324 | 56,069,201 |
Integration | 251,142,444 | 157,061,527 |
Excess | $ 165,898,119 | $ 100,992,326 |
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, 2021 | Dec. 31, 2020 |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Derivatives | $ 712,129 | $ 86,716 |
Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 254,049 | 327,309 |
Monetary Financial Liabilities | (249,587) | (319,663) |
Derivatives | (1,291) | |
Net Position | 3,170 | 7,646 |
US Dollar [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 250,862 | 320,180 |
Monetary Financial Liabilities | (248,914) | (318,396) |
Derivatives | (1,291) | |
Net Position | 656 | 1,784 |
Euro [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 2,943 | 6,643 |
Monetary Financial Liabilities | (623) | (1,211) |
Net Position | 2,320 | 5,432 |
Canadian Dollar [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 32 | 202 |
Monetary Financial Liabilities | (4) | (6) |
Net Position | 27 | 196 |
Real [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 39 | 51 |
Net Position | 39 | 51 |
Swiss franc [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 89 | 78 |
Monetary Financial Liabilities | (32) | (45) |
Net Position | 57 | 33 |
Others [member] | Currency risk [member] | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 85 | 155 |
Monetary Financial Liabilities | (14) | (5) |
Net Position | $ 71 | $ 150 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Net (Loss) / Income for the Year | $ 31,094,407 | $ 38,508,477 | $ 48,946,578 | |
Shareholders' Equity | $ 304,469,225 | 275,217,519 | $ 240,087,488 | $ 195,509,533 |
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 | $ 66 | 178 | ||
Shareholders' Equity | $ 722 | 1,962 | ||
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 | $ 232 | 543 | ||
Shareholders' Equity | $ 2,552 | 739 | ||
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 | $ 3 | 20 | ||
Shareholders' Equity | $ 30 | 53 | ||
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 | $ 4 | 5 | ||
Shareholders' Equity | $ 43 | 7,651 | ||
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 | $ 6 | 3 | ||
Shareholders' Equity | $ 63 | 3 | ||
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 | $ 7 | 15 | ||
Shareholders' Equity | $ 78 | 15 | ||
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 | $ (66) | (178) | ||
Shareholders' Equity | $ 590 | 5,254 | ||
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 | $ (232) | (543) | ||
Shareholders' Equity | $ 2,088 | (492) | ||
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 | $ (3) | (20) | ||
Shareholders' Equity | $ 24 | 130 | ||
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 | $ (4) | (5) | ||
Shareholders' Equity | $ 35 | (5) | ||
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 | $ (6) | (3) | ||
Shareholders' Equity | $ 51 | (3) | ||
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 | $ (7) | (15) | ||
Shareholders' Equity | $ 64 | $ (15) |
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, 2021 | Dec. 31, 2020 |
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | $ 1,527,445,992 | $ 1,415,273,853 |
Total Financial Liabilities | 1,320,536,340 | 1,242,483,933 |
Net Amount | 206,909,652 | 172,789,920 |
Less than one month [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 625,405,963 | 497,444,834 |
Total Financial Liabilities | 818,306,924 | 793,761,624 |
Net Amount | (192,900,961) | (296,316,790) |
3 months [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 116,802,086 | 122,335,699 |
Total Financial Liabilities | 96,462,632 | 100,561,675 |
Net Amount | 20,339,454 | 21,774,024 |
6 months [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 106,308,391 | 110,798,069 |
Total Financial Liabilities | 38,475,450 | 26,336,068 |
Net Amount | 67,832,940 | 84,462,001 |
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 | 154,697,504 | 184,197,811 |
Total Financial Liabilities | 24,267,311 | 13,174,729 |
Net Amount | 130,430,193 | 171,023,082 |
Later than one year [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 524,232,048 | 500,497,440 |
Total Financial Liabilities | 343,024,022 | 308,649,837 |
Net Amount | $ 181,208,026 | $ 191,847,603 |
Capital Management and Risk P_8
Capital Management and Risk Policies - Schedule of Sensitivity to Potential Additional Changes in Interest Rates (Detail) - Interest rate risk [member] | 12 Months Ended |
Dec. 31, 2021ARS ($) | |
Decrease In Interest Rate [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 | $ (3,543,296) |
Increase/(Decrease) in Shareholders' Equity in Pesos | $ (1.7) |
Increase In Interest Rate [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 | $ 3,543,296 |
Increase/(Decrease) in Shareholders' Equity in Pesos | $ 1.7 |
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, 2021 | Dec. 31, 2020 |
Assets | ||
Derivative Financial Instruments | $ 1,247,078 | $ 3,267,935 |
Other Financial Assets | 23,371,926 | 15,235,484 |
Loans and Other Financing | 744,433,702 | 794,608,259 |
Liabilities | ||
Liabilities at fair value through profit or loss | 75,674 | 0 |
Derivative Financial Instruments | 712,129 | 86,716 |
Other Financial Liabilities | 195,659,168 | 147,171,842 |
Lease liabilities | 4,381,601 | 6,586,196 |
Subordinated Debt Securities | 26,275,536 | 32,684,216 |
Liquidity risk [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 237,512,292 | 236,837,797 |
Derivative Financial Instruments | 1,247,078 | 827,053 |
Repurchase Transactions | 206,318,139 | 93,249,485 |
Other Financial Assets | 24,139,892 | 16,552,922 |
Loans and Other Financing | 881,827,799 | 950,255,285 |
Other Debt Securities | 98,861,222 | 38,345,187 |
Financial Assets Pledged as Collateral | 35,235,668 | 28,252,414 |
Investments in Equity Instruments | 1,251,934 | 5,654,112 |
Liabilities | ||
Deposits | 1,048,263,983 | 1,032,879,651 |
Liabilities at fair value through profit or loss | 75,674 | |
Derivative Financial Instruments | 712,129 | 86,716 |
Other Financial Liabilities | 191,277,568 | 140,582,236 |
Lease liabilities | 5,708,499 | 10,190,798 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 29,716,247 | 23,808,691 |
Debt Securities | 32,631,376 | 32,146,923 |
Subordinated Debt Securities | 35,315,159 | 47,007,564 |
Liquidity risk [member] | Less than one month [member] | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 235,715,852 | 230,532,971 |
Derivative Financial Instruments | 1,247,078 | 827,053 |
Repurchase Transactions | 206,318,139 | 93,249,485 |
Other Financial Assets | 20,422,842 | 11,588,748 |
Loans and Other Financing | 268,278,512 | 250,068,562 |
Other Debt Securities | 97,602,616 | 38,345,187 |
Financial Assets Pledged as Collateral | 35,235,668 | 28,252,414 |
Investments in Equity Instruments | 1,251,934 | 5,654,112 |
Liabilities | ||
Deposits | 981,068,287 | 960,889,687 |
Liabilities at fair value through profit or loss | 75,674 | |
Derivative Financial Instruments | 712,129 | 86,716 |
Other Financial Liabilities | 130,748,187 | 140,382,359 |
Lease liabilities | 114,368 | 233,741 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 5,200,022 | 3,936,538 |
Debt Securities | 1,519,011 | 1,111,592 |
Subordinated Debt Securities | 996,044 | 1,291,846 |
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 | 289,004 | 851,483 |
Other Financial Assets | 123,048 | 152,157 |
Loans and Other Financing | 279,743,611 | 308,413,869 |
Other Debt Securities | 304,390 | |
Liabilities | ||
Deposits | 64,008,739 | 67,935,172 |
Other Financial Liabilities | 60,319,962 | 36,949 |
Lease liabilities | 570,091 | 1,094,126 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 4,623,289 | 4,967,332 |
Debt Securities | 15,230,169 | 9,292,808 |
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 | 585,835 | 4,800,940 |
Other Financial Assets | 149,125 | 184,402 |
Loans and Other Financing | 180,218,971 | 204,441,783 |
Other Debt Securities | 229,445 | |
Liabilities | ||
Deposits | 3,074,261 | 3,870,033 |
Other Financial Liabilities | 177,971 | 41,420 |
Lease liabilities | 644,172 | 1,200,436 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 15,913,726 | 9,264,337 |
Debt Securities | 9,487,019 | 12,158,857 |
Subordinated Debt Securities | 996,044 | 1,291,846 |
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 | 921,601 | 652,403 |
Other Financial Assets | 3,444,877 | 4,627,615 |
Loans and Other Financing | 116,216,349 | 141,230,251 |
Other Debt Securities | 724,771 | |
Liabilities | ||
Deposits | 112,674 | 184,718 |
Other Financial Liabilities | 26,415 | 121,508 |
Lease liabilities | 3,769,889 | 5,585,434 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 3,979,210 | 5,640,484 |
Debt Securities | 6,395,177 | 9,583,666 |
Subordinated Debt Securities | 33,323,071 | 11,410,759 |
Liquidity risk [member] | Later than five years [member] | ||
Assets | ||
Loans and Other Financing | 37,370,356 | 46,100,820 |
Liabilities | ||
Deposits | 22 | 41 |
Other Financial Liabilities | 5,032 | |
Lease liabilities | $ 609,978 | 2,077,061 |
Subordinated Debt Securities | $ 33,013,113 |
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, 2021 | Dec. 31, 2020 |
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 235,936,898 | $ 234,592,823 |
AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 49,310,029 | 30,193,841 |
AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 872,938 | 136,595 |
AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 47,868 | 85,738 |
AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,623 | 1,422,210 |
A+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 8,635 | 1,906 |
Aa2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 48,642 | |
A1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 38,957 | 272,726 |
A1+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,776,997 | 1,239,099 |
A [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 367,434 | 32,424 |
A2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 245,967 | 163 |
A- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 39,096 | 61,290 |
A3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 630,013 | 303,042 |
Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 94,832 | 45,623 |
BBB- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 641,844 | |
Baa3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 34,356 | 20,065 |
B1 [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 143,271 | |
B [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 68,027 | 814,136 |
BB- [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,872 | |
CCC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 25,517 | 6,193,784 |
C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 181,587,622 | 193,721,539 |
Government bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 9,681,413 | 9,790,611 |
Government bonds [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 9,650,279 | 3,524,914 |
Government bonds [member] | AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 5,617 | |
Government bonds [member] | AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 71,913 | |
Government bonds [member] | CCC [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 25,517 | 6,193,784 |
Provincial bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,727,808 | 1,117,178 |
Provincial bonds [member] | A2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 244,653 | |
Provincial bonds [member] | A3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 630,013 | 303,042 |
Provincial bonds [member] | BBB- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 641,844 | |
Provincial bonds [member] | Baa3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial bonds [member] | B1 [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 143,271 | |
Provincial bonds [member] | B [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 68,027 | 814,136 |
Autonomous city of buenos aires bonds [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,413,862 | 137,657 |
Autonomous city of buenos aires bonds [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 37 | |
Autonomous city of buenos aires bonds [member] | AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 52,845 | 136,148 |
Autonomous city of buenos aires bonds [member] | A1+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,266,148 | |
Autonomous city of buenos aires bonds [member] | Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 94,832 | 1,509 |
Treasury bills [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 39,081,136 | 25,607,172 |
Treasury bills [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 39,049,777 | 25,607,172 |
Treasury bills [member] | AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 31,359 | |
Argentine Central Banks Bills [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 181,567,431 | 193,695,730 |
Argentine Central Banks Bills [member] | C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 181,567,431 | 193,695,730 |
Private Securities [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,465,248 | 4,244,475 |
Private Securities [member] | AAA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 609,936 | 1,061,755 |
Private Securities [member] | AA+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 820,093 | 447 |
Private Securities [member] | AA [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 10,892 | 85,738 |
Private Securities [member] | AA- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,623 | 1,350,297 |
Private Securities [member] | A+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 8,635 | 1,906 |
Private Securities [member] | Aa2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 48,642 | |
Private Securities [member] | A1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 38,957 | 272,726 |
Private Securities [member] | A1+ [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 510,849 | 1,239,099 |
Private Securities [member] | A [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 367,434 | 32,424 |
Private Securities [member] | A2 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,314 | 163 |
Private Securities [member] | A- [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 39,096 | 61,290 |
Private Securities [member] | Baa1 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 44,114 | |
Private Securities [member] | Baa3 [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 34,356 | 20,065 |
Private Securities [member] | BB- [Member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,872 | |
Private Securities [member] | C [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 20,191 | $ 25,809 |
Capital Management and Risk _11
Capital Management and Risk Policies - Summary of Retail Portfolios (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 | |
Statement [Line Items] | |
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% |
Confidence level used to determine risk adjustment for non-financial risk | 99.50% |
Argentine Pesos | |
Statement [Line Items] | |
Number of basis points | 4.00% |
US Dollar [member] | |
Statement [Line Items] | |
Number of basis points | 2.00% |
Capital Management and Risk _13
Capital Management and Risk Policies - Summary of Scenario Probabilities (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
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, 2021 | |
QI - 2022 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 1.80% |
Unemployment Rate | 0.30% |
Real Salary | (5.40%) |
Badlar rate | 17.40% |
CPI | 54.90% |
QI - 2022 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 7.00% |
Unemployment Rate | (10.50%) |
Real Salary | (4.90%) |
Badlar rate | 17.40% |
CPI | 53.20% |
QI - 2022 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 1.70% |
Unemployment Rate | 4.80% |
Real Salary | 0.40% |
Badlar rate | 61.40% |
CPI | 53.20% |
QII - 2022 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 2.30% |
Unemployment Rate | 7.80% |
Real Salary | (5.90%) |
Badlar rate | 8.40% |
CPI | 59.60% |
QII - 2022 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 10.70% |
Unemployment Rate | (3.70%) |
Real Salary | (5.10%) |
Badlar rate | (0.30%) |
CPI | 50.50% |
QII - 2022 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (1.00%) |
Unemployment Rate | 19.10% |
Real Salary | (7.70%) |
Badlar rate | 58.30% |
CPI | 72.60% |
QIII - 2022 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 0.50% |
Unemployment Rate | 25.50% |
Real Salary | (5.20%) |
Badlar rate | (0.50%) |
CPI | 60.10% |
QIII - 2022 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 8.00% |
Unemployment Rate | 12.20% |
Real Salary | (4.60%) |
Badlar rate | (6.30%) |
CPI | 48.00% |
QIII - 2022 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (4.10%) |
Unemployment Rate | 75.60% |
Real Salary | (11.80%) |
Badlar rate | 66.90% |
CPI | 83.20% |
QIV - 2022 [member] | Base [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 1.50% |
Unemployment Rate | 9.40% |
Real Salary | (4.10%) |
Badlar rate | 0.00% |
CPI | 59.00% |
QIV - 2022 [member] | Optimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 9.60% |
Unemployment Rate | (2.50%) |
Real Salary | (0.60%) |
Badlar rate | (11.80%) |
CPI | 42.80% |
QIV - 2022 [member] | Pessimistic [member] | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (3.60%) |
Unemployment Rate | 80.90% |
Real Salary | (9.00%) |
Badlar rate | 76.50% |
CPI | 86.80% |
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 | ||
Dec. 31, 2021USD ($) | Dec. 31, 2021ARS ($) | Dec. 31, 2020 | |
Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | $ 47,598,980 | ||
Sensitivity analysis amount | 48,122,889 | ||
Retail, Retail Like and Wholesale [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 37,966,376 | ||
Sensitivity analysis amount | 38,490,285 | ||
Naranja [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 9,632,604 | ||
Sensitivity analysis amount | $ 9,632,604 | ||
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 | 0.00% | 0.00% | |
Unemployment Rate | 3.00% | 3.00% | |
Real Salary | (4.00%) | (4.00%) | |
Badlar | 25.00% | 25.00% | |
Consumer Price Index | 5.00% | 5.00% | |
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 | 0.00% | 0.00% | |
Unemployment Rate | 1.00% | 1.00% | |
Real Salary | (2.00%) | (2.00%) | |
Badlar | 10.00% | 10.00% | |
Consumer Price Index | 1.00% | 1.00% | |
Positive Scenario [member] | Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 48,411,267 | ||
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 | 38,778,663 | ||
Positive Scenario [member] | Naranja [member] | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 9,632,604 | ||
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 | 0.00% | 0.00% | |
Unemployment Rate | 4.00% | 4.00% | |
Real Salary | (5.00%) | (5.00%) | |
Badlar | 60.00% | 60.00% | |
Consumer Price Index | 7.00% | 7.00% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Retail [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | $ 246,640,937 | $ 263,197,863 | $ 242,592,914 | |
Retail [member] | Gross carrying amount [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 222,657,887 | 246,123,597 | 222,499,714 | |
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 | 6,089,407 | 6,116,789 | 6,715,330 | |
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 | 2,230,206 | 1,579,343 | 2,928,809 | |
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 | 1,554,282 | 990,348 | 1,650,575 | |
Retail [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 14,109,155 | 8,387,786 | 8,798,486 | |
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 | 167,039,513 | 176,479,180 | ||
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 | 164,463,861 | 174,398,931 | ||
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 | 2,575,652 | 2,080,249 | ||
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 | 60,741,347 | 75,835,678 | ||
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 | 55,177,137 | 71,724,666 | ||
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 | 2,891,093 | 1,757,767 | ||
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 | 1,772,673 | 1,505,887 | ||
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 | 900,444 | 847,358 | ||
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 | 18,860,077 | 10,883,005 | ||
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 | 3,016,889 | |||
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 | 622,662 | 2,278,773 | ||
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 | 457,533 | 73,456 | ||
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 | 653,838 | 142,990 | ||
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 | 14,109,155 | 8,387,786 | ||
Retail [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 215,417,867 | 227,762,452 | 221,009,674 | |
Loss allowance | (31,223,070) | (35,435,411) | (21,583,240) | |
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 | 161,194,369 | 169,001,177 | ||
Loss allowance | (5,845,144) | (7,478,003) | ||
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 | 50,724,267 | 56,774,693 | ||
Loss allowance | (10,017,080) | (19,060,985) | ||
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 | 3,499,231 | 1,986,582 | ||
Loss allowance | (15,360,846) | (8,896,423) | ||
Retail Like Portfolio [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 4,228,506 | 6,825,303 | 6,193,587 | $ 4,830,826 |
Retail Like Portfolio [member] | Stage 1 [member] | 12-month ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 257,780 | 844,073 | 725,219 | 746,808 |
Retail Like Portfolio [member] | Stage 2 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 1,361,307 | 3,216,373 | 301,080 | 783,682 |
Retail Like Portfolio [member] | Stage 3 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 2,609,419 | 2,764,857 | 5,167,288 | 3,300,336 |
Retail Like Portfolio [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 175,367,106 | 182,813,319 | 88,000,795 | |
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 | 170,648,357 | 177,992,701 | 77,754,290 | |
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 | 1,839,233 | 2,609,761 | 4,120,016 | |
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 | 387,510 | 326,718 | 460,503 | |
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 | 264,698 | 91,932 | 657,546 | |
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 | 2,227,308 | 1,792,207 | 5,008,440 | |
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 | 154,644,739 | 159,649,962 | ||
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 | 153,539,137 | 158,187,579 | ||
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 | 1,105,602 | 1,462,383 | ||
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 | 16,999,200 | 19,557,425 | ||
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 | 16,028,249 | 18,354,315 | ||
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 | 527,137 | 818,265 | ||
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 | 303,433 | 316,890 | ||
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 | 140,381 | 67,955 | ||
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 | 3,723,167 | 3,605,932 | ||
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 | 1,080,971 | 1,450,807 | ||
Retail Like Portfolio [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 | 206,494 | 329,113 | ||
Retail Like Portfolio [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 | 84,077 | 9,828 | ||
Retail Like Portfolio [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 | 124,317 | 23,977 | ||
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 | 2,227,308 | 1,792,207 | ||
Retail Like Portfolio [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 171,138,600 | 175,988,016 | 81,807,208 | |
Loss allowance | (4,228,506) | (6,825,303) | (6,193,587) | |
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 | 154,386,959 | 158,805,889 | ||
Loss allowance | (257,780) | (844,073) | ||
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 | 15,637,893 | 16,341,052 | ||
Loss allowance | (1,361,307) | (3,216,373) | ||
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 | 1,113,748 | 841,075 | ||
Loss allowance | (2,609,419) | (2,764,857) | ||
Wholesale [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 514,777,066 | 419,763,889 | 446,023,019 | |
Wholesale [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 730,084 | 1,201,703 | 10,020,955 | |
Wholesale [member] | Gross carrying amount [member] | A [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 513,832,426 | 417,049,373 | 435,225,887 | |
Wholesale [member] | Gross carrying amount [member] | B1 [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 214,556 | 1,512,813 | 776,177 | |
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 | 496,694,594 | 398,096,545 | ||
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 | 496,694,594 | 398,096,545 | ||
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 | 17,352,388 | 20,465,641 | ||
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 | 17,137,832 | 18,952,828 | ||
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 | 214,556 | 1,512,813 | ||
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 | 730,084 | 1,201,703 | ||
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 | 730,084 | 1,201,703 | ||
Wholesale [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 512,262,266 | 414,949,423 | 435,311,226 | |
Loss allowance | (2,514,800) | (4,814,466) | (10,711,793) | |
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 | 495,229,404 | 395,138,516 | ||
Loss allowance | (1,465,190) | (2,958,029) | ||
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 | 17,032,460 | 19,525,119 | ||
Loss allowance | (319,928) | (940,522) | ||
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 | 402 | 285,788 | ||
Loss allowance | (729,682) | (915,915) | ||
Naranja [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 9,632,604 | 9,275,787 | 15,233,581 | 14,847,650 |
Naranja [member] | Stage 1 [member] | 12-month ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 5,677,757 | 5,596,374 | 4,157,813 | 3,851,123 |
Naranja [member] | Stage 2 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 1,257,400 | 889,280 | 1,446,970 | 5,154,884 |
Naranja [member] | Stage 3 [member] | Lifetime ECL [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 2,697,447 | 2,790,133 | 9,628,798 | $ 5,841,643 |
Naranja [member] | Gross carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 185,096,509 | 141,958,851 | 114,372,423 | |
Naranja [member] | Gross carrying amount [member] | Current [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 169,355,392 | 131,704,894 | 93,346,349 | |
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 | 8,079,289 | 5,304,089 | 5,513,282 | |
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 | 2,425,377 | 1,359,887 | 2,657,374 | |
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 | 1,269,596 | 609,131 | 1,387,796 | |
Naranja [member] | Gross carrying amount [member] | Default [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 3,966,855 | 2,980,850 | 11,467,622 | |
Naranja [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 | 174,821,358 | 134,671,424 | ||
Naranja [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 | 167,268,847 | 129,793,001 | ||
Naranja [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 | 7,552,511 | 4,878,423 | ||
Naranja [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 | 5,844,350 | 3,706,700 | ||
Naranja [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 | 1,799,598 | 1,514,657 | ||
Naranja [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 | 443,058 | 341,066 | ||
Naranja [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 | 2,375,093 | 1,287,654 | ||
Naranja [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 | 1,226,601 | 563,323 | ||
Naranja [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 | 4,430,801 | 3,580,727 | ||
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 | 286,947 | 397,236 | ||
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 | 83,720 | 84,600 | ||
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 | 50,284 | 72,233 | ||
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 | 42,995 | 45,808 | ||
Naranja [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 | 3,966,855 | 2,980,850 | ||
Naranja [member] | Net Carrying amount [member] | Expected Credit Losses Staging [member] | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 175,463,905 | 132,683,064 | 99,138,842 | |
Loss allowance | (9,632,604) | (9,275,787) | $ (15,233,581) | |
Naranja [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 | 169,143,601 | 129,075,050 | ||
Loss allowance | (5,677,757) | (5,596,374) | ||
Naranja [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 | 4,586,950 | 2,817,420 | ||
Loss allowance | (1,257,400) | (889,280) | ||
Naranja [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 | 1,733,354 | 790,594 | ||
Loss allowance | $ (2,697,447) | $ (2,790,133) |
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, 2021ARS ($) | |
Carrying amount [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | $ 53,152,720 |
Mortgage Loans | 18,419,566 |
Pledge Loans | 16,220,243 |
Personal Loans | 65,896,440 |
Credit Card Loans | 367,957,854 |
Financial Leases | 1,114,408 |
Documents | 194,471,663 |
Pre-financing export loans | 17,181,120 |
Others | 387,467,604 |
Total as of December 31, 2021 | 1,121,881,618 |
Loss allowance [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | (269,126) |
Mortgage Loans | (5,814,164) |
Pledge Loans | (29,447) |
Personal Loans | (11,901,830) |
Credit Card Loans | (17,344,564) |
Financial Leases | (455) |
Documents | (813,421) |
Others | (11,425,973) |
Total as of December 31, 2021 | (47,598,980) |
Ne gross carrying amount [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | 52,883,594 |
Mortgage Loans | 12,605,402 |
Pledge Loans | 16,190,796 |
Personal Loans | 53,994,610 |
Credit Card Loans | 350,613,290 |
Financial Leases | 1,113,953 |
Documents | 193,658,242 |
Pre-financing export loans | 17,181,120 |
Others | 376,041,631 |
Total as of December 31, 2021 | 1,074,282,638 |
Collateral's Fair Value [member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Pledge Loans | 20,557,070 |
Personal Loans | 0 |
Others | 79,131,320 |
Total as of December 31, 2021 | $ 141,846,172 |
Capital Management and Risk _18
Capital Management and Risk Policies - Summary of Mortgage Portfolio LTV Distribution (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021ARS ($) | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | $ 45,045 |
Lower than 50% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | Lower than 50% |
Exposure | $ 614 |
50 to 60% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 50 to 60% |
Exposure | $ 152 |
60 to 70% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 60 to 70% |
Exposure | $ 377 |
70 to 80% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 70 to 80% |
Exposure | $ 118 |
80 to 90% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 80 to 90% |
Exposure | $ 137 |
90 to 100% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | 90 to 100% |
Exposure | $ 1,984 |
Higher than100% [member] | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Mortgages Portfolio -LTV Distribution | Higher than 100% |
Exposure | $ 41,663 |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
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 | $ 35,435,411 | $ 21,583,240 | $ 20,918,952 |
Inflation effect | (13,370,022) | (9,161,615) | (7,535,219) |
New Financial Assets Originated or Purchased | 75,020,799 | 60,532,085 | |
Foreign exchange and other movements | (25,463,002) | (53,624,966) | |
Loss allowance, Ending Balance | 31,223,070 | 35,435,411 | 21,583,240 |
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 | 6,825,303 | 6,193,587 | 4,830,826 |
Inflation effect | (2,212,666) | (2,049,186) | (2,193,274) |
New Financial Assets Originated or Purchased | 123,644,384 | 125,185,447 | |
Foreign exchange and other movements | 1,480,539 | (25,224,772) | |
Loss allowance, Ending Balance | 4,228,506 | 6,825,303 | 6,193,587 |
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 | 4,814,466 | 10,711,793 | 3,555,324 |
Inflation effect | (1,466,104) | (2,326,959) | (3,045,100) |
New Financial Assets Originated or Purchased | 358,271,113 | 336,938,974 | |
Foreign exchange and other movements | (85,450,018) | 85,232,200 | |
Loss allowance, Ending Balance | 2,514,800 | 4,814,466 | 10,711,793 |
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 | 9,275,787 | 15,233,581 | 14,847,650 |
Inflation effect | (3,564,454) | (4,622,044) | (5,580,885) |
New Financial Assets Originated or Purchased | 96,163,214 | 72,557,972 | |
Foreign exchange and other movements | 466,914 | ||
Loss allowance, Ending Balance | 9,632,604 | 9,275,787 | 15,233,581 |
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 | 7,478,003 | 8,322,959 | 7,275,015 |
Inflation effect | (2,787,886) | (2,933,721) | (2,695,552) |
New Financial Assets Originated or Purchased | 46,620,123 | 44,172,674 | |
Foreign exchange and other movements | (23,631,855) | (37,979,751) | |
Loss allowance, Ending Balance | 5,845,144 | 7,478,003 | 8,322,959 |
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 | 844,073 | 725,219 | 746,808 |
Inflation effect | (279,331) | (242,606) | (304,907) |
New Financial Assets Originated or Purchased | 116,677,738 | 116,070,986 | |
Foreign exchange and other movements | 2,005,757 | (20,146,986) | |
Loss allowance, Ending Balance | 257,780 | 844,073 | 725,219 |
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 | 2,958,029 | 1,024,895 | 1,470,854 |
Inflation effect | (905,825) | 45,359 | (591,512) |
New Financial Assets Originated or Purchased | 349,754,606 | 330,435,365 | |
Foreign exchange and other movements | (89,758,601) | 78,805,131 | |
Loss allowance, Ending Balance | 1,465,190 | 2,958,029 | 1,024,895 |
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 | 5,596,374 | 4,157,813 | 3,851,123 |
Inflation effect | (2,144,516) | (1,452,514) | (1,469,779) |
New Financial Assets Originated or Purchased | 89,946,060 | 70,547,700 | |
Foreign exchange and other movements | 664,468 | ||
Loss allowance, Ending Balance | 5,677,757 | 5,596,374 | 4,157,813 |
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 | 19,060,985 | 3,855,946 | 6,483,463 |
Inflation effect | (6,885,567) | (2,869,728) | (2,075,221) |
New Financial Assets Originated or Purchased | 19,185,358 | 13,053,985 | |
Foreign exchange and other movements | (3,836,241) | (14,233,527) | |
Loss allowance, Ending Balance | 10,017,080 | 19,060,985 | 3,855,946 |
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 | 3,216,373 | 301,080 | 783,682 |
Inflation effect | (1,056,263) | (270,782) | (252,319) |
New Financial Assets Originated or Purchased | 4,522,166 | 6,902,688 | |
Foreign exchange and other movements | (854,462) | (4,303,704) | |
Loss allowance, Ending Balance | 1,361,307 | 3,216,373 | 301,080 |
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 | 940,522 | 454,660 | 216,433 |
Inflation effect | (297,224) | (19,767) | (146,644) |
New Financial Assets Originated or Purchased | 8,515,953 | 6,380,899 | |
Foreign exchange and other movements | 4,270,859 | 437,192 | |
Loss allowance, Ending Balance | 319,928 | 940,522 | 454,660 |
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 | 889,280 | 1,446,970 | 5,154,884 |
Inflation effect | (356,771) | (439,541) | (1,524,158) |
New Financial Assets Originated or Purchased | 3,945,482 | 1,597,963 | |
Foreign exchange and other movements | (58,333) | ||
Loss allowance, Ending Balance | 1,257,400 | 889,280 | 1,446,970 |
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 | 8,896,423 | 9,404,335 | 7,160,474 |
Inflation effect | (3,696,569) | (3,358,166) | (2,764,446) |
New Financial Assets Originated or Purchased | 9,215,318 | 3,305,426 | |
Foreign exchange and other movements | 2,005,094 | (1,411,688) | |
Loss allowance, Ending Balance | 15,360,846 | 8,896,423 | 9,404,335 |
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 | 2,764,857 | 5,167,288 | 3,300,336 |
Inflation effect | (877,072) | (1,535,798) | (1,636,048) |
New Financial Assets Originated or Purchased | 2,444,480 | 2,211,773 | |
Foreign exchange and other movements | 329,244 | (774,082) | |
Loss allowance, Ending Balance | 2,609,419 | 2,764,857 | 5,167,288 |
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 | 915,915 | 9,232,238 | 1,868,037 |
Inflation effect | (263,055) | (2,352,551) | (2,306,944) |
New Financial Assets Originated or Purchased | 554 | 122,710 | |
Foreign exchange and other movements | 37,724 | 5,989,877 | |
Loss allowance, Ending Balance | 729,682 | 915,915 | 9,232,238 |
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 | 2,790,133 | 9,628,798 | 5,841,643 |
Inflation effect | (1,063,167) | (2,729,989) | (2,586,948) |
New Financial Assets Originated or Purchased | 2,271,672 | 412,309 | |
Foreign exchange and other movements | (139,221) | ||
Loss allowance, Ending Balance | 2,697,447 | 2,790,133 | 9,628,798 |
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 | 11,679,357 | 6,398,814 | 10,335,595 |
Changes in PDs/LGDs/EADs | (249,996) | 24,775,514 | 3,644,671 |
Foreign exchange and other movements | 1,473,858 | (403,036) | 171,677 |
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 | 1,991,241 | 2,919,443 | 5,974,838 |
Changes in PDs/LGDs/EADs | (555,995) | 1,908,201 | 2,005,429 |
Foreign exchange and other movements | (507,674) | 2,358,286 | (957,492) |
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 | 936,795 | 1,149,369 | 1,902,397 |
Changes in PDs/LGDs/EADs | 406,932 | 4,760,271 | 185,940 |
Foreign exchange and other movements | (1,110,750) | 251,760 | 9,226,802 |
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 | 7,972,866 | 5,182,719 | 10,567,899 |
Changes in PDs/LGDs/EADs | (1,507,436) | 1,005,451 | 612,279 |
Foreign exchange and other movements | (147,071) | ||
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 | 2,115,543 | 2,092,341 | 2,568,784 |
Changes in PDs/LGDs/EADs | 386,505 | 3,638,483 | 2,074,567 |
Foreign exchange and other movements | (1,028,066) | (2,033,308) | 315,099 |
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 | 123,983 | 723,054 | 638,257 |
Changes in PDs/LGDs/EADs | (190,122) | (1,699,225) | 1,170,734 |
Foreign exchange and other movements | (1,367) | 1,742,202 | (1,106,394) |
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 | 754,252 | 913,669 | 1,127,597 |
Changes in PDs/LGDs/EADs | 435,273 | 2,770,541 | (150,815) |
Foreign exchange and other movements | (1,391,414) | 163,993 | (251,024) |
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 | 3,794,799 | 4,408,653 | 630,542 |
Changes in PDs/LGDs/EADs | (1,077,581) | 439,257 | 451,231 |
Foreign exchange and other movements | (90,131) | ||
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 | 1,201,186 | ||
New Financial Assets Originated or Purchased | 1,177,829 | 1,504,429 | |
Changes in PDs/LGDs/EADs | 431,115 | 16,973,151 | 1,081,985 |
Foreign exchange and other movements | (2,657,874) | 799,390 | (318,922) |
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 | 39,082 | 235,301 | 201,052 |
Changes in PDs/LGDs/EADs | (135,997) | 2,606,638 | 75,504 |
Foreign exchange and other movements | (545,556) | 645,777 | (31,995) |
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 | 182,285 | 160,383 | 235,990 |
Changes in PDs/LGDs/EADs | 11,066 | 623,523 | 303,422 |
Foreign exchange and other movements | (22,218) | 112,052 | (11,664) |
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 | 1,367,217 | 374,335 | 2,316,457 |
Changes in PDs/LGDs/EADs | (135,324) | 124,204 | (885,019) |
Foreign exchange and other movements | (18,046) | ||
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 | 8,362,628 | 3,128,644 | 6,262,382 |
Changes in PDs/LGDs/EADs | (1,067,616) | 4,163,880 | 488,119 |
Foreign exchange and other movements | 5,159,798 | 830,882 | 175,500 |
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 | 1,828,176 | 1,961,088 | 5,135,529 |
Changes in PDs/LGDs/EADs | (229,876) | 1,000,788 | 759,191 |
Foreign exchange and other movements | 39,249 | (29,693) | 180,897 |
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 | 258 | 75,317 | 538,810 |
Changes in PDs/LGDs/EADs | (39,407) | 1,366,207 | 33,333 |
Foreign exchange and other movements | 302,882 | (24,285) | 9,489,490 |
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 | 2,810,850 | 399,731 | 7,620,900 |
Changes in PDs/LGDs/EADs | (294,531) | 441,990 | 1,046,067 |
Foreign exchange and other movements | (38,894) | ||
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 | (3,745,538) | (7,757,506) | (5,952,436) |
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 | (1,311,703) | (4,505,028) | (3,466,740) |
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 | (1,066,539) | (9,731,768) | (1,113,570) |
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 | (2,397,088) | (7,523,920) | (5,213,362) |
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 | (583,205) | (1,563,201) | (981,403) |
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 | (304,444) | (363,172) | (402,595) |
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 | (503,575) | (1,877,328) | (650,042) |
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 | (575,860) | (2,054,074) | (397,922) |
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 | (826,141) | (1,080,839) | (2,367,250) |
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 | (151,176) | (407,817) | (450,040) |
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 | (67,659) | (447,651) | (156,092) |
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 | (260,309) | (249,571) | (928,832) |
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 | (2,336,192) | (5,113,466) | (2,603,783) |
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 | (856,083) | (3,734,039) | (2,614,105) |
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 | (495,305) | (7,406,789) | (307,436) |
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 | (1,560,919) | (5,220,275) | (3,886,608) |
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 | 12,502,238 | 21,022,961 | |
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 | 5,960,505 | 4,967,139 | |
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 | 5,519,947 | 10,442,927 | |
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 | 1,674,473 | 1,698,774 | |
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 | (12,502,238) | (21,022,961) | |
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 | (5,960,505) | (4,967,139) | |
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 | (5,519,947) | (10,442,927) | |
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 | (1,674,473) | (1,698,774) | |
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 | (513,633) | (752,418) | (1,113,052) |
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 | (37,773) | (54,674) | (51,028) |
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 | (21,319) | (91,161) | (58,239) |
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 | (84,126) | (108,936) | (104,906) |
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 | 513,633 | 752,418 | 1,113,052 |
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 | 37,773 | 54,674 | 51,028 |
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 | 21,319 | 91,161 | 58,239 |
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 | 84,126 | 108,936 | 104,906 |
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 | 3,676,093 | 2,335,106 | |
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 | 308,818 | 199,284 | |
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 | 1,950,674 | 2,078,462 | |
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 | (3,676,093) | (2,335,106) | |
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 | (308,818) | (199,284) | |
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 | (1,950,674) | (2,078,462) | |
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 | (184,412) | (178,419) | (114,897) |
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 | (11,610) | (5,135) | (2,951) |
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 | (20) | (119) | |
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 | (134,853) | (219,966) | (220,440) |
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 | 184,412 | 178,419 | 114,897 |
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 | 11,610 | 5,135 | 2,951 |
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 | 20 | 119 | |
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 | 134,853 | 219,966 | 220,440 |
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 | (12,336,328) | (14,304,405) | |
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 | (2,993,818) | (2,562,142) | |
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 | (1,156,736) | (712,206) | |
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 | (1,237,876) | ||
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 | 12,336,328 | 14,304,405 | |
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 | 2,993,818 | 2,562,142 | |
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 | 1,156,736 | 712,206 | |
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 | 1,237,876 | 762,744 | |
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 | (762,744) | ||
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 | 720,872 | 584,921 | 950,844 |
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 | 45,554 | 44,319 | 34,880 |
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 | 139,769 | 8,081 | 128,191 |
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 | 222,556 | 1,398,405 | |
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 | (720,872) | (584,921) | (950,844) |
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 | (45,554) | (44,319) | (34,880) |
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 | (139,769) | (8,081) | (128,191) |
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 | (222,556) | (233,987) | (1,398,405) |
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 | 233,987 | ||
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 | (1,311,802) | ||
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 | 5,139,767 | 2,280,699 | |
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 | 431,463 | 166,596 | |
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 | 438,059 | 199,577 | |
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 | 353,778 | 1,311,802 | |
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 | (5,139,767) | (2,280,699) | |
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 | (431,463) | (166,596) | |
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 | (438,059) | (199,577) | |
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 | (353,778) | ||
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 | 262,561 | ||
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 | (562,323) | (507,260) | (685,964) |
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 | (44,351) | (13,277) | (60,098) |
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 | (308,394) | (25,758) | (2,110) |
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 | (100,874) | (262,561) | (1,398,549) |
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 | 562,323 | 507,260 | 685,964 |
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 | 44,351 | 13,277 | 60,098 |
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 | 308,394 | 25,758 | 2,110 |
Transfer from stage 2 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 | 100,874 | 1,398,549 | |
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 | (331,193) | (437,882) | |
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 | (98,929) | (48,309) | |
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 | (250,779) | (277,277) | |
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 | 331,193 | 437,882 | |
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 | 98,929 | 48,309 | |
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 | 250,779 | 277,277 | |
Transfer from stage 3 to stage 1 [member] | 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] | |||
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] | 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 | 68,817 | ||
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 | 300,366 | 43,554 | |
Transfer from stage 3 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 | (25,909) | 2,415 | |
Transfer from stage 3 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 | 4 | ||
Transfer from stage 3 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 | 171,095 | 163,580 | 19,559 |
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 | (241,423) | (300,366) | (43,554) |
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 | (68,817) | 25,909 | (2,415) |
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 | (4) | ||
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 | (171,095) | (163,580) | (19,559) |
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 | (627,535) | (844,888) | |
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 | (72,125) | (215,330) | |
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 | (15,798) | (34,975) | |
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 | 627,535 | 844,888 | |
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 | 72,125 | 215,330 | |
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 | 15,798 | 34,975 | |
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 | 241,423 | ||
Transfer from stage 3 to stage 2 [member] | Movements with 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 | 71,218 | ||
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 | 462,938 | 544,999 | |
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 | 46,976 | 109,098 | 19,146 |
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 | 85,277 | ||
Transfer from stage 3 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 | 10,657 | 20,495 | 5,686 |
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 | (462,938) | (544,999) | (71,218) |
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 | (46,976) | (109,098) | (19,146) |
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 | (85,277) | ||
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 | $ (10,657) | $ (20,495) | $ (5,686) |
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, 2021 | Dec. 31, 2020 | |
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 | $ 263,197,863 | $ 164,659,573 |
Financial assets derecognized during the period other than write-offs | (27,038,301) | (29,152,127) |
New financial assets originated or purchased | 75,020,799 | 60,532,085 |
FX and other movements | 25,463,002 | 53,624,966 |
Inflation Effect | (90,002,426) | 13,533,366 |
Gross carrying amount, Ending Balance | 246,640,937 | 263,197,863 |
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 | 182,813,319 | 88,000,792 |
Financial assets derecognized during the period other than write-offs | (67,911,978) | (32,236,544) |
New financial assets originated or purchased | 123,644,384 | 125,185,447 |
FX and other movements | (1,480,539) | 25,224,772 |
Inflation Effect | (61,698,080) | (23,361,148) |
Gross carrying amount, Ending Balance | 175,367,106 | 182,813,319 |
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 | 419,763,889 | 446,023,025 |
Financial assets derecognized during the period other than write-offs | (129,828,498) | (159,562,317) |
New financial assets originated or purchased | 358,271,113 | 336,938,974 |
FX and other movements | 85,450,018 | (85,232,200) |
Inflation Effect | (218,879,456) | (118,403,593) |
Gross carrying amount, Ending Balance | 514,777,066 | 419,763,889 |
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 | 141,958,851 | 114,372,420 |
Financial assets derecognized during the period other than write-offs | (5,115,542) | (14,266,680) |
New financial assets originated or purchased | 96,163,214 | 72,557,972 |
FX and other movements | (466,914) | |
Inflation Effect | (47,910,014) | (30,237,947) |
Gross carrying amount, Ending Balance | 185,096,509 | 141,958,851 |
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 | 176,479,180 | 164,659,573 |
Financial assets derecognized during the period other than write-offs | (15,445,294) | (18,005,652) |
New financial assets originated or purchased | 46,620,123 | 44,172,674 |
FX and other movements | 23,631,855 | 37,979,751 |
Inflation Effect | (60,735,541) | (43,711,386) |
Gross carrying amount, Ending Balance | 167,039,513 | 176,479,180 |
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 | 159,649,962 | 70,586,738 |
Financial assets derecognized during the period other than write-offs | (62,620,001) | (25,860,454) |
New financial assets originated or purchased | 116,677,738 | 116,070,986 |
FX and other movements | (2,005,757) | 20,146,986 |
Inflation Effect | (53,880,627) | (18,738,322) |
Gross carrying amount, Ending Balance | 154,644,739 | 159,649,962 |
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 | 398,096,545 | 423,539,493 |
Financial assets derecognized during the period other than write-offs | (124,985,052) | (154,907,468) |
New financial assets originated or purchased | 349,754,606 | 330,435,365 |
FX and other movements | 89,758,601 | (78,805,131) |
Inflation Effect | (211,566,895) | (112,434,993) |
Gross carrying amount, Ending Balance | 496,694,594 | 398,096,545 |
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 | 134,671,424 | 96,719,034 |
Financial assets derecognized during the period other than write-offs | (2,209,070) | (4,243,541) |
New financial assets originated or purchased | 89,946,060 | 70,547,700 |
FX and other movements | (664,468) | |
Inflation Effect | (45,450,564) | (25,499,144) |
Gross carrying amount, Ending Balance | 174,821,358 | 134,671,424 |
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 | 75,835,678 | |
Financial assets derecognized during the period other than write-offs | (8,175,653) | (5,198,477) |
New financial assets originated or purchased | 19,185,358 | 13,053,985 |
FX and other movements | 3,836,241 | 14,233,527 |
Inflation Effect | (25,593,955) | 48,463,898 |
Gross carrying amount, Ending Balance | 60,741,347 | 75,835,678 |
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 | 19,557,425 | 10,608,798 |
Financial assets derecognized during the period other than write-offs | (3,941,723) | (1,895,229) |
New financial assets originated or purchased | 4,522,166 | 6,902,688 |
FX and other movements | 854,462 | 4,303,704 |
Inflation Effect | (6,600,479) | (2,816,267) |
Gross carrying amount, Ending Balance | 16,999,200 | 19,557,425 |
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 | 20,465,641 | 12,462,570 |
Financial assets derecognized during the period other than write-offs | (4,376,503) | (4,163,403) |
New financial assets originated or purchased | 8,515,953 | 6,380,899 |
FX and other movements | (4,270,859) | (437,192) |
Inflation Effect | (6,906,996) | (3,308,377) |
Gross carrying amount, Ending Balance | 17,352,388 | 20,465,641 |
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 | 3,706,700 | 5,212,608 |
Financial assets derecognized during the period other than write-offs | (655,467) | (1,422,154) |
New financial assets originated or purchased | 3,945,482 | 1,597,963 |
FX and other movements | 58,333 | |
Inflation Effect | (1,250,982) | (1,399,253) |
Gross carrying amount, Ending Balance | 5,844,350 | 3,706,700 |
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 | 10,883,005 | |
Financial assets derecognized during the period other than write-offs | (3,417,354) | (5,947,998) |
New financial assets originated or purchased | 9,215,318 | 3,305,426 |
FX and other movements | (2,005,094) | 1,411,688 |
Inflation Effect | (3,672,930) | 8,780,854 |
Gross carrying amount, Ending Balance | 18,860,077 | 10,883,005 |
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 | 3,605,932 | 6,805,256 |
Financial assets derecognized during the period other than write-offs | (1,350,254) | (4,480,861) |
New financial assets originated or purchased | 2,444,480 | 2,211,773 |
FX and other movements | (329,244) | 774,082 |
Inflation Effect | (1,216,974) | (1,806,559) |
Gross carrying amount, Ending Balance | 3,723,167 | 3,605,932 |
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 | 1,201,703 | 10,020,962 |
Financial assets derecognized during the period other than write-offs | (466,943) | (491,446) |
New financial assets originated or purchased | 554 | 122,710 |
FX and other movements | (37,724) | (5,989,877) |
Inflation Effect | (405,565) | (2,660,223) |
Gross carrying amount, Ending Balance | 730,084 | 1,201,703 |
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 | 3,580,727 | 12,440,778 |
Financial assets derecognized during the period other than write-offs | (2,251,005) | (8,600,985) |
New financial assets originated or purchased | 2,271,672 | 412,309 |
FX and other movements | 139,221 | |
Inflation Effect | (1,208,468) | (3,339,550) |
Gross carrying amount, Ending Balance | 4,430,801 | 3,580,727 |
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 | (12,502,238) | (21,022,961) |
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 | (5,960,505) | (4,967,139) |
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 | (5,519,947) | (10,442,927) |
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 | (1,674,473) | (1,698,774) |
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 | 12,502,238 | 21,022,961 |
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 | 5,960,505 | 4,967,139 |
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 | 5,519,947 | 10,442,927 |
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 | 1,674,473 | 1,698,774 |
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 | (3,676,093) | (2,335,106) |
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 | (308,818) | (199,284) |
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 | (1,950,674) | (2,078,462) |
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 | 3,676,093 | 2,335,106 |
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 | 308,818 | 199,284 |
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 | 1,950,674 | 2,078,462 |
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 | 12,336,328 | 14,304,405 |
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 | 2,993,818 | 2,562,142 |
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 | 1,156,736 | 712,206 |
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 | 1,237,876 | |
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 | (12,336,328) | (14,304,405) |
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 | (2,993,818) | (2,562,142) |
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 | (1,156,736) | (712,206) |
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 | (1,237,876) | (762,744) |
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 | 762,744 | |
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 | 1,311,802 | |
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 | (5,139,767) | (2,280,699) |
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 | (431,463) | (166,596) |
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 | (438,059) | (199,577) |
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 | (353,778) | (1,311,802) |
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 | 5,139,767 | 2,280,699 |
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 | 431,463 | 166,596 |
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 | 438,059 | 199,577 |
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 | 353,778 | |
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 | 627,535 | 844,888 |
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 | 72,125 | 215,330 |
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 | 15,798 | 34,975 |
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 | (627,535) | (844,888) |
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 | (72,125) | (215,330) |
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 | (15,798) | (34,975) |
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 | 331,193 | 437,882 |
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 | 98,929 | 48,309 |
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 | 250,779 | 277,277 |
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 | (331,193) | (437,882) |
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 | (98,929) | (48,309) |
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 | $ (250,779) | $ (277,277) |
Contingencies and Commitments -
Contingencies and Commitments - Summary of Provisions for Contingencies (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other provisions [line items] | ||
Contingency provision | $ 4,381,599 | $ 5,700,004 |
Other contingent liabilities [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 4,305,489 | 5,597,804 |
Legal proceedings contingent liability [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 2,734,238 | 4,163,612 |
Contingent liability for labor lawsuits [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 379,442 | 405,564 |
Contingent liability for claims and credit cards [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 200 | 1,656 |
Contingent liability for guarantees [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 1,142 | 1,724 |
Contingent liability for other contingencies [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 927,621 | 691,933 |
Contingent liability arising from post-employment benefit obligations [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 262,846 | 333,315 |
Contingent liability dollarization of Judicial deposits difference [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | 76,110 | 94,191 |
Contingent liability for administrative, disciplinary and criminal penalties [member] | ||
Disclosure of other provisions [line items] | ||
Contingency provision | $ 0 | $ 8,009 |
Contingencies and Commitments_2
Contingencies and Commitments - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2021 | |
Contingencies and Commitments [line Items] | |||||||
Recovery of income tax paid | $ 4,403,712 | $ 3,646,382 | $ 866,842 | $ 944,338 | $ 459,319 | $ 433,815 | |
Tarjeta Naranja S.A.[member] | Two Thousand Fourteen And Two Thousand And Sixteen [member] | |||||||
Contingencies and Commitments [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] | |||||||
Contingencies and Commitments [line Items] | |||||||
Income tax claims nominal value receivable | 1,364,949 | ||||||
Tarjeta Naranja S.A.[member] | Two Thousand and Fifteen [member] | |||||||
Contingencies and Commitments [line Items] | |||||||
Income tax claims nominal value receivable | 149,763 | ||||||
Tarjeta Naranja S.A.[member] | Two Thousand And Seventeen [member] | |||||||
Contingencies and Commitments [line Items] | |||||||
Income tax claims nominal value receivable | 326,498 | ||||||
Tarjeta Naranja S.A.[member] | Two Thousand And Eighteen [member] | |||||||
Contingencies and Commitments [line Items] | |||||||
Income tax claims nominal value receivable | 973,843 | ||||||
Taretja Cuyana [member] | Two Thousand Fourteen And Two Thousand And Sixteen [member] | |||||||
Contingencies and Commitments [line Items] | |||||||
Income tax claims nominal value receivable | $ 145,478 |
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, 2021 | Dec. 31, 2020 |
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [line items] | ||
Financial Instrument Assets, Offsetting effects on Statement Financial Position, Gross Amount | $ 106,830 | $ 41,767 |
Financial Instrument Assets, Offsetting effects on Statement Financial Position, Offset Amount | 0 | 0 |
Financial Instrument Assets, Net amounts in Statement Financial Position | 106,830 | 41,767 |
Financial Instrument Assets, Related amounts not offset, Subject to netting agreements | (99,922) | (37,865) |
Financial Instrument Assets, Total Net Amount | 6,908 | 3,902 |
Financial Instrument Liabilities, Offsetting effects on Statement Financial Position, Gross Amount | 127,920 | 47,536 |
Financial Instrument Liabilities, Offsetting effects on Statement Financial Position, Offset Amount | 0 | 0 |
Financial Instrument Liabilities, Net amounts in Statement Financial Position | 127,920 | 47,536 |
Financial Instrument Liabilities, Related amounts not offset, Subject to netting agreements | (99,922) | (37,865) |
Financial Instrument Liabilities, Total Net Amount | 27,998 | 9,671 |
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 | 106,830 | 41,767 |
Financial Instrument Assets, Offsetting effects on Statement Financial Position, Offset Amount | 0 | 0 |
Financial Instrument Assets, Net amounts in Statement Financial Position | 106,830 | 41,767 |
Financial Instrument Assets, Related amounts not offset, Subject to netting agreements | (99,922) | (37,865) |
Financial Instrument Assets, Total Net Amount | 6,908 | 3,902 |
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 | 127,920 | 47,536 |
Financial Instrument Liabilities, Offsetting effects on Statement Financial Position, Offset Amount | 0 | 0 |
Financial Instrument Liabilities, Net amounts in Statement Financial Position | 127,920 | 47,536 |
Financial Instrument Liabilities, Related amounts not offset, Subject to netting agreements | (99,922) | (37,865) |
Financial Instrument Liabilities, Total Net Amount | $ 27,998 | $ 9,671 |
Off-balance Sheet Items - Sched
Off-balance Sheet Items - Schedule of Credit Exposure (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [abstract] | ||
Agreed Credits | $ 54,380,064 | $ 50,012,860 |
Documentary Export and Import Credits | 5,946,482 | 3,747,888 |
Guarantees Granted | 11,539,426 | 19,107,614 |
Liabilities for Foreign Trade Operations | $ 872,522 | $ 1,383,759 |
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, 2021 | Dec. 31, 2020 | |
Disclosure of credit risk exposure [abstract] | ||
For Agreed Credits | $ 87,366 | $ 29,332 |
For Documentary Export and Import Credits | 79,211 | 157,877 |
For Guarantees Granted | $ 33,839 | $ 108,784 |
Off-balance Sheet Items - Sch_3
Off-balance Sheet Items - Schedule of Counter-guarantees, Classified by Type (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [abstract] | ||
Other Preferred Guarantees Received | $ 16,764 | $ 99,452 |
Other Guarantees Received | $ 533,240 | $ 430,557 |
Off-balance Sheet Items - Sch_4
Off-balance Sheet Items - Schedule of Credit Risk by Probability of Default (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [abstract] | ||
Values to be Debited | $ 9,333,650 | $ 10,567,975 |
Values to be Credited | 10,577,694 | 15,877,301 |
Values for Collection | $ 143,871,686 | $ 128,598,377 |
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, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [abstract] | ||
Trust Funds | $ 9,955,990 | $ 13,253,439 |
Securities Held in Escrow | $ 1,803,674,978 | $ 1,214,072,600 |
Non-controlling Interest - Summ
Non-controlling Interest - Summary of Non-controlling Equity Investment Percentages and Votes (Detail) - Galicia Broker Asesores de Seguros S.A. [member] | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA -Argentina | |
Percentage of equity investments | 0.01% | 0.01% |
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, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | $ 5 | $ 5,944,933 | $ 5,445,177 |
Purchases/Sales | 0 | (6,242,680) | 271,671 |
Cash Dividends | 0 | (217,120) | |
Share of Profit (loss) for the Year | 0 | 514,872 | 228,085 |
Ending balance | 5 | 5 | 5,944,933 |
Cobranzas Regionales S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 0 | (40,205) | 36,719 |
Purchases/Sales | 40,205 | ||
Share of Profit (loss) for the Year | 0 | (76,924) | |
Ending balance | 0 | (40,205) | |
Galicia Broker Asesores de Seguros S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 5 | 6 | 6 |
Purchases/Sales | 0 | ||
Cash Dividends | 0 | ||
Share of Profit (loss) for the Year | 0 | (1) | |
Ending balance | 5 | 5 | 6 |
Galicia Retiro Compania de Seguros S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 6 | 6 | |
Share of Profit (loss) for the Year | (6) | ||
Ending balance | 6 | ||
Galicia Seguros S.A.U. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 8 | 8 | |
Share of Profit (loss) for the Year | (8) | ||
Ending balance | 8 | ||
Naranja Digital Compañía Financiera S.A.U. [Member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 0 | (30,976) | |
Purchases/Sales | 30,976 | ||
Share of Profit (loss) for the Year | (30,976) | ||
Ending balance | 0 | (30,976) | |
Ondara S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 0 | 17,180 | 19,110 |
Purchases/Sales | (17,180) | ||
Share of Profit (loss) for the Year | (1,930) | ||
Ending balance | 0 | 17,180 | |
Tarjeta Naranja S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | 0 | 5,192,243 | 4,711,768 |
Purchases/Sales | (5,192,243) | ||
Share of Profit (loss) for the Year | 480,475 | ||
Ending balance | 0 | 5,192,243 | |
Tarjetas Regionales S.A. [member] | |||
Disclosure Of Non Controlling Interests Movement [line items] | |||
Beginning balance | $ 0 | 806,671 | 677,560 |
Purchases/Sales | (1,104,438) | 271,671 | |
Cash Dividends | (217,120) | ||
Share of Profit (loss) for the Year | 514,887 | (142,560) | |
Ending balance | $ 0 | $ 806,671 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties abstract [abstract] | ||
Percentage of increase in notes of the group | 20.00% | |
Key management personnel compensation | $ 1,609,488 | $ 1,973,926 |
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, 2021 | |
Disclosure of related party transactions [line items] | |
Percentage of Voting Rights | 54.09% |
Principal Line of Business | Financial and InvestmentOperations |
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, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 141 | 135 |
Regular Directors [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 80 | 79 |
General manager [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 1 | 1 |
Area managers [member] | ||
Disclosure of transactions between related parties [line items] | ||
Key Management Personnel | 60 | 55 |
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, 2021ARS ($)RelatedParty | Dec. 31, 2020ARS ($)RelatedParty | |
Disclosure of related party transactions [line items] | ||
Total Amount of Credit Assistance | $ | $ 4,409,317 | $ 3,006,160 |
Number of Addressees (quantities) | RelatedParty | 280 | 269 |
Average Amount of Credit Assistance | $ | $ 15,748 | $ 11,176 |
Maximum Assistance | $ | $ 1,662,740 | $ 768,210 |
Natural Persons [member] | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 221 | 208 |
Legal Entities [member] | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 59 | 61 |
Related Party Transactions - _3
Related Party Transactions - Summary of Amounts of Related Party Transactions (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Assets | |||
Cash and Due from Banks | $ 237,426,843 | $ 264,787,060 | |
Debt Securities at Fair Value through Profit or Loss | 235,936,898 | 234,592,823 | |
Other Financial Assets | 23,371,926 | 15,235,484 | |
Loans and Other Financing | 744,433,702 | 794,608,259 | |
Other Debt Securities | 94,356,999 | 34,822,804 | |
Total Assets | 1,678,043,055 | 1,592,855,622 | |
Liabilities | |||
Other Financial Liabilities | 195,659,168 | 147,171,842 | |
Financing Received from the Argentine Central Bank and other Financial Institutions | 23,710,704 | 20,880,419 | |
Debt Securities Issued | 27,971,776 | 25,771,621 | |
Liabilities for Insurance Contracts | 3,190,629 | 3,110,871 | |
Other Non-financial Liabilities | 40,225,155 | 38,154,644 | |
Total Liabilities | 1,373,573,830 | 1,317,638,103 | |
Income (Loss) | |||
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 95,609,835 | 104,619,587 | $ 149,660,888 |
Income from Insurance Business | 7,349,946 | 8,137,763 | 7,272,216 |
Other Operating Income (Expense) | (35,836,233) | (33,694,144) | (43,529,669) |
Other Operating Expenses | 53,834,069 | 46,132,615 | 52,954,579 |
Operating Income | 47,630,518 | 70,071,005 | 82,514,582 |
Related parties [member] | |||
Assets | |||
Cash and Due from Banks | 4,290,665 | 2,101,957 | |
Debt Securities at Fair Value through Profit or Loss | 625,105 | 1,114,405 | |
Other Financial Assets | 0 | 2,504 | |
Loans and Other Financing | 9,262,123 | 5,063,927 | |
Other Debt Securities | 125,593 | 257,591 | |
Assets for Insurance Contracts | 0 | 826 | |
Total Assets | 14,303,486 | 8,541,210 | |
Liabilities | |||
Deposits | 4,792,644 | 2,576,616 | |
Other Financial Liabilities | 102,262 | 1,281,591 | |
Financing Received from the Argentine Central Bank and other Financial Institutions | 8,628,641 | 3,250,474 | |
Debt Securities Issued | 750,698 | 1,371,996 | |
Liabilities for Insurance Contracts | 885 | 35 | |
Other Non-financial Liabilities | 28,356 | 60,498 | |
Total Liabilities | 14,303,486 | 8,541,210 | |
Income (Loss) | |||
Net Income (Loss) from Interest | 565,684 | 341,833 | 740,021 |
Net Fee Income (Expense) | (1,772,399) | (1,638,835) | (1,814,095) |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | (338,882) | (1,365) | 0 |
Income from Insurance Business | 3,099,651 | 3,027,310 | 3,606,808 |
Other Operating Income (Expense) | (1,584,895) | (1,801,451) | (2,379,132) |
Administrative Expenses | 140,529 | 182,642 | 263,458 |
Other Operating Expenses | 7,324 | 21,825 | 14,011 |
Operating Income | $ 117,012 | $ 131,959 | $ 431,071 |
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, 2021 |
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) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of restricted assets [line items] | ||
For forward purchases of repurchase transactions | $ 23,710,704 | $ 20,880,419 |
Repurchase Transaction [Member] | Government Securities [member] | Currency Forward Purchases [Member] | ||
Disclosure of restricted assets [line items] | ||
For forward purchases of repurchase transactions | 323,534 | |
Banco De Galicia Y Buenos Aires S.A.U. [member] | ||
Disclosure of restricted assets [line items] | ||
For transactions in ROFEX, MAE and BYMA | 11,203,763 | 5,894,832 |
For appraisals from repo transactions | 35,948 | 0 |
For debit / credit cards transactions | 4,613,003 | 4,558,602 |
For attachments | 9,410 | 14,204 |
Liquid offsetting entry required to operate as CNV agent | 86,400 | 96,633 |
For contribution to M.A.E.' s Joint Guarantee Fund (Fondo de Garantía Mancomunada) | 1,100 | 1,660 |
Guarantees for the Regional Economies Competitiveness Program | 129,805 | 278,856 |
For other transactions (includes guarantees linked to rental contracts) | 24,150 | $ 29,889 |
Banco De Galicia Y Buenos Aires S.A.U. [member] | Repurchase Transaction [Member] | Government Securities [member] | Currency Forward Purchases [Member] | ||
Disclosure of restricted assets [line items] | ||
For forward purchases of repurchase transactions | $ 323,534 |
Additional Information Requir_5
Additional Information Required by the Argentine Central Bank - Special Guarantees Accounts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Argentine Central Bank [member] | ||
Disclosure of restricted assets [line items] | ||
Escrow Accounts | $ 18,509,197 | $ 17,274,591 |
Additional Information Requir_6
Additional Information Required by the Argentine Central Bank - Deposits in favor of the Argentine Central Bank (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Argentine Central Bank [member] | ||
Disclosure of restricted assets [line items] | ||
Unavailable deposits due to exchange transactions | $ 533 | $ 805 |
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, 2021 | Dec. 31, 2020 |
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 | $ 1,494,322 |
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, 2021 | Dec. 31, 2020 |
Disclosure of restricted assets [line items] | ||
Total Restricted Assets | $ 36,384,068 | $ 29,807,791 |
INVIU S.A.U. [Member] | ||
Disclosure of restricted assets [line items] | ||
Liquid offsetting entry required to operate as CNV agents | 33,472 | 27,877 |
Guarantees linked to surety bonds | 4,530 | 11,195 |
Tarjeta Naranja S.A. [member] | ||
Disclosure of restricted assets [line items] | ||
Attachments arising from judicial cases | 99,254 | 1,469 |
Guarantees linked to rental contracts | 8,646 | 10,681 |
Galicia Asset Management S.A.U. [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 | 52,591 | 20,985 |
Galicia Securities S.A.U. [member] | ||
Disclosure of restricted assets [line items] | ||
For transactions in the market | 220,009 | 72,475 |
Liquid offsetting entry required to operate as CNV agents | 18,506 | 17,011 |
Guarantees linked to surety bonds | $ 20,217 | $ 1,704 |
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, 2021shares |
Fima Premium Class B Mutual Fund [Member] | |
Disclosure of restricted assets [line items] | |
Number Of Shares Held | 5,500,000 |
Additional Information Requi_10
Additional Information Required by the Argentine Central Bank - Additional Information 2 (Detail) - ARS ($) | Nov. 09, 2018 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of additional information [line items] | |||
Instruments held in custody | $ 1,803,674,978,000 | $ 1,214,072,600,000 | |
Percentage of regulatory capital | 2.50% | ||
Percentage of individual computable regulatory capital | 1.00% | ||
Banco De Galicia Y Buenos Aires S.A.U. [member] | |||
Disclosure of additional information [line items] | |||
Instruments held in custody | $ 344,574,288,000 | $ 290,434,542,000 | |
Securities held in custody in units | 28,342,213,607 | 22,081,526,592 | |
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 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] | |||
Minimum capital requirement | 3.50% | ||
Profit loss recorded in equity | $ 31,778,769,000 | ||
Percentage of constitution to Legal Reserve | 5.00% | ||
Payment of a cash dividend | $ 11,000,000,000 | ||
Eventual dividend | $ 8,000,000,000 | ||
Percentage of accumulated income | 20.00% | ||
Argentine Central Bank [member] | General Manager and the Manager [Member] | |||
Disclosure of additional information [line items] | |||
Fines and penalties | $ 747,500 | ||
Argentine Central Bank [member] | One Director [Member] | |||
Disclosure of additional information [line items] | |||
Fines and penalties | 172,500 | ||
Argentine Central Bank [member] | Two Directors [Member] | |||
Disclosure of additional information [line items] | |||
Fines and penalties | $ 143,750 | ||
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% | ||
Shareholders equity limit | $ 300,000,000 | ||
Dividend rate | 25.00% | ||
Escrow Agent [member] | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | $ 92,635,000 | ||
Minimum required shareholders offsetting entry | 46,317,000 | ||
Galicia administradora de fondos S.A. [member] | |||
Disclosure of additional information [line items] | |||
Minimum equity requirement act as agent | 102,386,000 | ||
Minimum required shareholders offsetting entry | 51,193,000 | ||
Galicia administradora de fondos S.A. [member] | Fima Premium Class C Shares [Member] | |||
Disclosure of additional information [line items] | |||
Minimum required shareholders offsetting entry | $ 52,591,000 | ||
Minimum offsetting entry shares | 5,500,000 | ||
Galicia Securities S.A. [member] | |||
Disclosure of additional information [line items] | |||
Minimum equity requirement act as agent | $ 2,500,000 | ||
Required shareholders equity amount | 670,541,000 | ||
Minimum required shareholders offsetting entry | $ 22,932,000 | ||
Required shareholders equity shares | 470,350,000 | ||
Required government securities amount | $ 18,506,000,000 | ||
Required bank guarantee amount | 6,170,000 | ||
Minimum required equity act as agent off setting entry | 1,250,000 | ||
INVIU S.A.U. [Member] | |||
Disclosure of additional information [line items] | |||
Minimum equity requirement act as agent | 2,500,000 | ||
Required shareholders equity amount | 500,255,000 | ||
Minimum required shareholders offsetting entry | $ 22,932,000 | ||
Required shareholders equity shares | 470,350,000 | ||
Minimum required equity act as agent off setting entry | $ 1,250,000 | ||
Offsetting entry | 24,605,000 | ||
Alync And AN Integral [member] | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | 45,864,000 | ||
Minimum required shareholders offsetting entry | 22,932,000 | ||
Treasury Bills | $ 86,400,000 |
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, 2021ARS ($) | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 9,918,222 |
Exxon mobil [member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Apr. 17, 2012 |
Trustor | Exxon Mobil |
Maturity Date | Apr. 19, 2023 |
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 |
Fondo Fiduciario Aceitero [Member] | |
Disclosure of trust activities [line items] | |
Date of Contract | Mar. 16, 2021 |
Trustor | Fondo Fiduciario Aceitero |
Maturity Date | Jan. 31, 2022 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 37,768 |
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 | 21,535 |
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 | 7,013 |
Trust [member] | Banco De Galicia Y Buenos Aires S.A.U. [member] | Fondo Fiduciario Aceitero [Member] | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 9,220 |
Additional Information Requi_12
Additional Information Required by the Argentine Central Bank - Summary of Financial Trust Contracts (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | $ 9,918,222 | |
GAS I [member] | ||
Disclosure of trust activities [line items] | ||
Date of Contract | Dec. 6, 2006 | |
Trust | GAS I | |
Maturity Date | Dec. 31, 2022 | |
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, 2022 | |
MILA IV [member] | ||
Disclosure of trust activities [line items] | ||
Date of Contract | Jan. 9, 2011 | |
Trust | MILA IV | |
Maturity Date | Dec. 31, 2022 | |
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 | $ 180,029 | |
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 | 9,715,280 | |
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 | 19,730 | |
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 | $ 3,183 |
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, 2021 | Dec. 31, 2020 |
Disclosure of mutual funds portfolio [line items] | ||
Total | $ 1,803,674,978 | $ 1,214,072,600 |
Mutual funds [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 344,574,287 | 290,434,542 |
FIMA Acciones [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 1,265,644 | 890,944 |
FIMA P.B. Acciones [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 1,054,541 | 955,515 |
FIMA Renta en pesos [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 10,569,935 | 1,657,791 |
FIMA Ahorro pesos [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 17,890,833 | 10,946,320 |
FIMA Renta Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 8,519,259 | 1,116,575 |
FIMA Premium [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 257,119,600 | 224,439,590 |
FIMA Ahorro Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 28,931,495 | 19,179,449 |
FIMA Capital Plus [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 13,777,224 | 25,133,197 |
FIMA Abierto PyMES [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 1,026,906 | 1,144,949 |
FIMA Mix I [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 3,571,848 | 3,090,322 |
FIMA Renta Fija Internacional [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | 779,203 | 1,770,204 |
FIMA Acciones Latinoamericanas Dolares [member] | ||
Disclosure of mutual funds portfolio [line items] | ||
Total | $ 67,799 | $ 109,686 |
Additional Information Requi_14
Additional Information Required by the Argentine Central Bank - Summary of Compliance with Minimum Cash Requirements (Detail) - Dec. 31, 2021 € 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 | $ 135,683,682 | ||
US Dollar [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | $ 1,758,879 | ||
Euro [member] | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Minimum cash requirements at bank | € | € 29 | ||
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 | 12,000,000 | ||
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 | 1,754,449 | ||
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 | € | € 29 | ||
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 | 18,054,014 | ||
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 | $ 4,430 | ||
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 | 29,787,727 | ||
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 | $ 75,841,941 |
Additional Information Requi_15
Additional Information Required by the Argentine Central Bank - Schedule of Shareholders' Equity (Detail) - ARS ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 01, 2020 |
Share Capital | $ 1,474,692 | $ 1,474,692 | $ 47,927,494 |
Additional paid in Capital | 102,456,581 | $ 102,456,581 | |
Argentine Central Bank [member] | |||
Share Capital | 1,474,692 | ||
Additional paid in Capital | 17,281,187 | ||
Adjustments to shareholders´ equity | 102,456,581 | ||
Legal reserve | 1,077,884 | ||
Distributable reserves | 155,265,604 | ||
Non distributable reserves | (89,247) | ||
Profit for the year | 31,778,769 | ||
Total Shareholder's equity under the rules of the Argentine Central Bank | $ 309,245,470 |
Economic Context Where the Gr_2
Economic Context Where the Group's Operates - Additional Information (Detail) $ in Thousands | Dec. 31, 2021ARS ($) | Jan. 28, 2022ARS ($) | Dec. 31, 2021 | Mar. 31, 2021ARS ($) | Dec. 31, 2022ARS ($) | Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2022 | Jan. 01, 2022ARS ($) |
Disclosure of additional information [line items] | |||||||||
Currency devaluation percentage | 47.00% | ||||||||
Closing foreign exchange rate | 102.75 | 102.75 | 102.75 | 84.145 | |||||
Decrease in GDP growth rate during the year | 9.90% | ||||||||
Increase in GDP growth rate | 10.30% | ||||||||
Percentage of fiscal deficit on gross domestic product | 3.50% | ||||||||
Percentage of assistance to treasury financing on gross domestic product By argentine central Bank | 2.50% | 3.70% | |||||||
Sale of bonds by argentine central bank to private sector | $ 48,000 | ||||||||
Argentine central bank accumulation of fund during period | $ 3,475 | ||||||||
Sale of bonds by argentine central bank to public sector | $ 1,221 | ||||||||
Argentine central bank fund transfers from international monetary fund | $ 6,752 | ||||||||
Economic Context Operates [Member] | |||||||||
Disclosure of additional information [line items] | |||||||||
Currency devaluation percentage | 7.40% | ||||||||
Closing foreign exchange rate | 110.98 | ||||||||
International reserves | $ 2,325,000 | ||||||||
Estimated fiscal deficit | $ 1,758,600,000 | ||||||||
Percentage of fiscal deficit on gross domestic product | 2.50% | ||||||||
Percentage of Increase of tax resources | 54.20% | ||||||||
Percentage of increase of primary expenses | 63.20% | ||||||||
National pubic Sector primary deficit | $ 92,982,000 | ||||||||
Percentage of assistance to treasury financing on gross domestic product By argentine central Bank | (1.00%) | ||||||||
Threshold assistance to treasury financing on gross domestic product by argentine central bank | $ 705,200,000 | ||||||||
Net international reserves increase during period | $ 5,800,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Thousands | Apr. 19, 2022ARS ($) | Apr. 07, 2022ARS ($)Number | Mar. 30, 2022ARS ($) | Mar. 29, 2022ARS ($) | Mar. 22, 2022ARS ($) | Mar. 16, 2022ARS ($) | Feb. 15, 2022ARS ($) | Jan. 31, 2022ARS ($) | Jan. 18, 2022ARS ($) | Jan. 01, 2022ARS ($) | Mar. 31, 2022ARS ($) | Dec. 31, 2021ARS ($) | Dec. 31, 2020ARS ($) | Dec. 31, 2019ARS ($) |
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid, ordinary shares | $ 1,925,903 | $ 3,073,781 | $ 5,467,754 | |||||||||||
Contributions | $ 271,671 | |||||||||||||
Play Digital S A [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Contributions | $ 209,129 | $ 323,309 | ||||||||||||
Major Dividends [member] | Banco Galicia [member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid, ordinary shares | $ 19,350 | |||||||||||||
Dividend Payment Terms | payable in 12 equal, monthly and consecutive installments | |||||||||||||
Dividends declared | $ 18,016,000 | |||||||||||||
Number of installments till the date of payment | Number | 4 | |||||||||||||
Major Dividends [member] | Tarjetas Regionales [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | $ 1,800,000 | |||||||||||||
Major Dividends [member] | Naranja [member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | $ 4,000,000 | |||||||||||||
Major Dividends [member] | Sudamericana Holding [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | $ 376,000 | $ 295,000 | ||||||||||||
Major Dividends [member] | Galicia Asset Management [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | 1,547,000 | |||||||||||||
Major Dividends [member] | Galicia Securities [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | $ 111,000 | |||||||||||||
Major Dividends [member] | Galicia Warrants [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Dividends paid | $ 112,000 | |||||||||||||
Irrevocable Contributions [Member] | Play Digital S A [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Contributions | $ 170,443 | |||||||||||||
Irrevocable Contributions [Member] | Tarjetas Regionales S.A. [member] | Naranja Digital Compaa Financiera SAU [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | 100,000 | |||||||||||||
Irrevocable Contributions [Member] | Tarjetas Regionales S.A. [member] | Cobranzas Regionales S.A. [member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | 500,000 | |||||||||||||
Irrevocable Contributions [Member] | IGAM LLC [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Contributions made by group | $ 700,000 | |||||||||||||
Debt Securities Issuance [Member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Eleven [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 4,487,222 | |||||||||||||
Borrowings, adjustment to interest rate basis | 1.49% | |||||||||||||
Rate | Badlar rate plus a 1.49% margin | |||||||||||||
Maturity Date | maturity date 6 months from the issuance | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Borrowings, adjustment to interest rate basis | 6.00% | |||||||||||||
Rate | Badlar rate plus a 6.0% margin | |||||||||||||
Maturity Date | maturity date 24 months from the issuance date | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty One [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 4,050,000 | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty One Series One [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 2,715,058 | |||||||||||||
Borrowings, adjustment to interest rate basis | 3.99% | |||||||||||||
Rate | Badlar rate plus a 3.99% margin | |||||||||||||
Maturity Date | maturity date 12 months from the issuance date | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty One Series Two [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 3,284,942 | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty Two [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 7,500 | |||||||||||||
Borrowings, adjustment to interest rate basis | 5.00% | |||||||||||||
Maturity Date | maturity date 2 years from the issuance | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities ClassFiftyTwo Series One [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 4,532,644 | |||||||||||||
Borrowings, adjustment to interest rate basis | 3.75% | |||||||||||||
Maturity Date | maturity of 12 months from the issuance | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty Two Series Two [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Face value | $ 4,192,612 | |||||||||||||
Borrowings, adjustment to interest rate basis | 5.25% | |||||||||||||
Maturity Date | maturity date 24 months | |||||||||||||
Debt Securities Issuance [Member] | Tarjeta Naranja S.A.[member] | Global Program For Issuance Of Unsubordinated Debt Securities Class Fifty Two Series One And Two [Member] | ||||||||||||||
Disclosure of Events After Reporting Period [line items] | ||||||||||||||
Rate | Badlar rate plus 3.75% and 5.25% |