FOR IMMEDIATE RELEASE
For more information contact:
Pedro A. Richards
Chief Executive Officer
Telefax: (5411) 4343-7528
GRUPO FINANCIERO GALICIA S.A. REPORTS FINANCIAL RESULTS FOR
THE QUARTER ENDED JUNE 30 , 2010
(Buenos Aires, Argentina, August 10, 2010) – Grupo Financiero Galicia S.A. (“Grupo Galicia”, “GFG”)
(Buenos Aires Stock Exchange: GGAL /NASDAQ: GGAL) today announced its consolidated financial results
for the second quarter of fiscal year 2010, ended June 30, 2010.
NET INCOME FOR THE QUARTER ENDED JUNE 30 , 2010
Ø Net income for the second quarter ended June 30, 2010, amounted to Ps. 46.4 million or Ps. 0.037 per
share, equivalent to Ps. 0.37 per ADS.
Ø This result can be mainly attributed to the income derived from our interests in Banco de Galicia y Buenos
Aires S.A. (“the Bank”) (Ps. 69.0 million) and in Sudamericana Holding (Ps. 6.8 million), which
was partially offset by administrative expenses and financial expenses in the amount of Ps. 24.7 million.
Financial expenses include Ps. 11.3 million related to hedge derivatives of foreign currency risk of past
quarters that, as of March 31, 2010, were registered as “Valuation Adjustment of Hedging Derivatives.”
Excluding this adjustment, Grupo Galicia’s net income for the quarter would have amounted to Ps. 57.7
Ø The Bank recorded a net income of Ps. 72.8 million, an increase from the Ps. 41.1 million recorded in the
second quarter of FY2009. Net income before the amortization of deferred losses from amparo claims
increased significantly, reaching a Ps.202.4 million profit.
Ø As of June 30, 2010, the Bank’s market share of loans to the private sector reached 8.68%, of which
0.73 percentage points correspond to Compañía Financiera Argentina. In terms of deposits, market share
of the private sector reached 7.95%, of which 0.14 percentage points correspond to Compañía
Ø The table below shows the