Cover
Cover | 12 Months Ended |
Dec. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2023 |
Current Fiscal Year End Date | --12-31 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 000-30852 |
Entity Registrant Name | GRUPO FINANCIERO GALICIA SA |
Entity Incorporation, State or Country Code | AR |
Entity Address, Address Line One | Perón 430, 25th floor |
Entity Address, Postal Zip Code | C1038 AAJ |
Entity Address, City or Town | Buenos Aires |
Entity Address, Country | AR |
Contact Personnel Email Address | drivas@gfgsa.com |
Title of 12(b) Security | Ordinary shares |
Trading Symbol | GGAL |
Security Exchange Name | NASDAQ |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Document Financial Statement Error Correction [Flag] | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0001114700 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | Perón 430, 25° Piso |
Entity Address, Postal Zip Code | C1038AAJ |
Entity Address, City or Town | Buenos Aires |
Entity Address, Country | AR |
Contact Personnel Name | Diego Rivas |
City Area Code | 54 11 4 |
Local Phone Number | 343 7528 |
Class A ordinary shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 281,221,650 |
Class B ordinary shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 1,193,470,441 |
American Depository Shares | |
Document Information [Line Items] | |
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 |
Trading Symbol | GGAL |
Security Exchange Name | NASDAQ |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2023 | |
Audit Information [Abstract] | |
Auditor Name | PRICE WATERHOUSE & Co. S.R.L. |
Auditor Location | Buenos Aires, Argentina |
Auditor Firm ID | 1349 |
CONSOLIDATED STATEMENT OF FINAN
CONSOLIDATED STATEMENT OF FINANCIAL POSITION - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and Due from Banks | $ 1,995,884,822 | $ 1,393,686,854 |
Cash | 1,105,684,352 | 537,435,980 |
Financial Institutions and Correspondents | 890,200,470 | 856,250,874 |
Argentine Central Bank (BCRA) | 820,614,602 | 765,776,910 |
Other, Local and Foreign Financial Institutions | 69,585,868 | 90,473,964 |
Debt Securities at fair value through profit or loss | 598,794,865 | 2,467,190,345 |
Derivative Financial Instruments | 35,290,286 | 10,362,961 |
Repurchase Transactions | 1,170,165,239 | 359,750,280 |
Other Financial Assets | 178,103,536 | 174,440,243 |
Loans and Other Financing | 3,080,706,325 | 3,871,626,785 |
Non-financial Public Sector | 460,847 | 4,000,190 |
Argentine Central Bank (BCRA) | 40,796 | 11,466 |
Other Financial Institutions | 27,298,507 | 42,528,958 |
Non-financial Private Sector and Residents Abroad | 3,186,083,159 | 4,040,454,535 |
Expected credit loss allowance | (133,176,984) | (215,368,364) |
Other Debt Securities | 1,926,334,348 | 1,141,853,895 |
Financial Assets Pledged as Collateral | 431,557,202 | 473,659,536 |
Current Income Tax Assets | 2,045,887 | 1,277,544 |
Investments in Equity Instruments | 9,637,518 | 6,972,539 |
Equity investments in Associates and Joint Ventures | 2,650,357 | 2,076,371 |
Property, Plant and Equipment | 355,259,161 | 360,675,413 |
Intangible Assets | 123,614,819 | 119,932,486 |
Deferred Income Tax Assets | 189,753,509 | 22,689,298 |
Insurance Contract Assets | 9,821,667 | 3,495,903 |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Other Non-financial Assets | 77,747,320 | 78,383,092 |
Non-current Assets Held for Sale | 74,920 | 3,896 |
Total Assets | 10,216,057,804 | 10,488,176,207 |
Liabilities | ||
Deposits | 5,707,779,943 | 6,670,282,388 |
Non-financial Public Sector | 66,169,475 | 129,889,824 |
Financial Sector | 2,778,672 | 2,185,374 |
Non-financial Private Sector and Residents Abroad | 5,638,831,796 | 6,538,207,190 |
Liabilities at fair value through profit or loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 12,238,747 | 5,275,600 |
Repurchase Transactions | 23,346,266 | 0 |
Other Financial Liabilities | 1,273,329,296 | 1,086,252,228 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 138,128,699 | 116,684,862 |
Debt Securities | 92,715,512 | 209,587,705 |
Current Income Tax Liabilities | 272,400,545 | 27,403,664 |
Subordinated Debt Securities | 205,612,893 | 141,394,653 |
Provisions | 20,387,943 | 31,934,926 |
Deferred Income Tax Liabilities | 17,355,336 | 19,825,433 |
Insurance Contracts Liabilities | 105,700,532 | 4,068,201 |
Reinsurance Contracts Liabilities | 2,163,638 | 0 |
Other Non-financial Liabilities | 278,169,377 | 279,341,084 |
Total Liabilities | 8,198,813,805 | 8,592,294,336 |
Shareholders’ Equity | ||
Capital Stock | 1,474,692 | 1,474,692 |
Paid-in capital | 17,281,187 | 17,281,187 |
Capital Adjustments | 716,519,943 | 716,519,943 |
Reserves | 1,495,596,615 | 1,552,787,167 |
Retained Deficit | (553,264,107) | (544,270,728) |
Other Comprehensive Income | 2,374,796 | 832,125 |
Income for the Year | 337,172,143 | 151,257,426 |
Shareholders’ Equity Attributable to Parent Company´s Owners | 2,017,155,269 | 1,895,881,812 |
Shareholders’ Equity Attributable to Non-controlling Interests | 88,730 | 59 |
Total Shareholders’ Equity | $ 2,017,243,999 | $ 1,895,881,871 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME - ARS ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | |||
Interest Income | $ 4,754,293,051 | $ 2,232,472,289 | $ 1,760,172,773 |
Interest Expense | (3,026,607,231) | (1,757,524,770) | (1,097,294,289) |
Net Income from Interest | 1,727,685,820 | 474,947,519 | 662,878,484 |
Fee Income | 546,739,714 | 506,032,107 | 489,022,833 |
Fee related Expenses | (75,308,879) | (83,955,675) | (76,523,463) |
Net Fee Income | 471,430,835 | 422,076,432 | 412,499,370 |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 273,897,741 | 1,052,905,089 | 579,970,081 |
Income from Derecognition of Assets Measured at Amortized Cost | 42,107,041 | 1,860,458 | 100,277 |
Exchange rate differences on foreign currency | 612,573,105 | 62,666,267 | 27,265,004 |
Other Operating Income | 381,761,004 | 229,783,588 | 155,435,612 |
Insurance Business Result | 36,343,038 | 40,075,037 | 44,584,836 |
Impairment Charge | (190,682,814) | (163,294,445) | (133,151,102) |
Net Operating Income | 3,355,115,770 | 2,121,019,945 | 1,749,582,562 |
Personnel Expenses | (351,459,681) | (301,727,403) | (281,731,346) |
Administrative Expenses | (295,224,397) | (279,393,042) | (272,939,370) |
Depreciation Expenses | (84,278,588) | (86,811,560) | (87,941,850) |
Other Operating Expenses | (565,566,379) | (396,299,340) | (335,783,492) |
Loss on net monetary position | (1,518,506,605) | (851,315,576) | (482,259,367) |
Operating Income | 540,080,120 | 205,473,024 | 288,927,137 |
Share of profit from Associates and Joint Ventures | 2,929,989 | (1,374,074) | (783,437) |
Income before Taxes from Continuing Operations | 543,010,109 | 204,098,950 | 288,143,700 |
Income Tax from Continuing Operations | (205,840,481) | (52,841,496) | (99,524,754) |
Net Income from Continuing Operations | 337,169,628 | 151,257,454 | 188,618,946 |
Net Income for the Year | 337,169,628 | 151,257,454 | 188,618,946 |
Net Income for the Year Attributable to parent company´s owners | 337,172,143 | 151,257,426 | 188,618,946 |
Net Income for the Year Attributable to Non-controlling Interests | (2,515) | 28 | 0 |
Earnings per Share | |||
Net Income Attributable to parent company´s owners | 337,172,143 | 151,257,426 | 188,618,946 |
Net Income Attributable to parent company´s owners Adjusted by dilution effects | $ 337,172,143 | $ 151,257,426 | $ 188,618,946 |
Weighted-Average of Ordinary Shares Outstanding for the Year (in shares) | 1,474,692 | 1,474,692 | 1,474,692 |
Diluted Weighted-Average of Ordinary Shares Outstanding for the Year (in shares) | 1,474,692 | 1,474,692 | 1,474,692 |
Basic Earnings per Share (in ars per share) | $ 228.64 | $ 102.57 | $ 127.90 |
Diluted Earnings per Share (in ars per shares) | $ 228.64 | $ 102.57 | $ 127.90 |
CONSOLIDATED STATEMENT OF OTHER
CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net Income for the Year | $ 337,169,628 | $ 151,257,454 | $ 188,618,946 |
Items of Other Comprehensive Income (OCI) that may be Reclassified to Profit or Loss for the Year | |||
Foreign Currency Adjustment | 871,144 | 581,896 | (24,222) |
Income / (Loss) from Financial Instruments at Fair Value through OCI (Item 4.1.2a, IFRS 9) | 671,527 | (3,516,892) | 528,907 |
Fair Value through OCI | 937,873 | (3,307,570) | 759,640 |
Income tax | (266,346) | (209,322) | (230,733) |
Other Comprehensive (Loss) | 0 | (56,159) | 0 |
Other Comprehensive (Loss) | 0 | (69,593) | 0 |
Income tax | 0 | 13,434 | 0 |
Total Other Comprehensive Income / (Loss) that may be Reclassified to Profit or Loss for the Year | 1,542,671 | (2,991,155) | 504,685 |
Total Other Comprehensive Income / (Loss) | 1,542,671 | (2,991,155) | 504,685 |
Total Comprehensive Income | 338,712,299 | 148,266,299 | 189,123,631 |
Total Comprehensive Income Attributable to Parent company´s owners | 338,714,814 | 148,266,271 | 189,123,631 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | $ (2,515) | $ 28 | $ 0 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - ARS ($) $ in Thousands | Total | Capital Stock | Paid-in Capital | Equity Adjustments | Accumulated Profit from Financial Instruments at Fair Value through OCI | Other | Legal Reserve | Others Reserves | Retained Earnings | Total Shareholders’ Equity Attributable to parent company´s owners | Total Shareholders’ Equity Attributable to Non-Controlling Interests |
Equity, Beginning balance at Dec. 31, 2020 | $ 1,669,471,836 | $ 1,474,692 | $ 17,281,187 | $ 716,519,943 | $ 3,235,603 | $ 82,992 | $ 11,869,845 | $ 1,624,800,808 | $ (705,793,265) | $ 1,669,471,805 | $ 31 |
Distribution of Profits | |||||||||||
Absorption of Retained Earnings | 0 | (165,673,872) | 165,673,872 | ||||||||
Use of Reserve and distribution of cash dividends | (11,682,545) | (11,682,545) | (11,682,545) | ||||||||
Other reserves | 19 | 19 | 19 | ||||||||
Total Comprehensive Income for the Year | |||||||||||
Net Income for the Year | 188,618,946 | 188,618,946 | 188,618,946 | ||||||||
Other Comprehensive Income for the Year | 504,685 | 528,907 | (24,222) | 504,685 | |||||||
Equity, Ending balance at Dec. 31, 2021 | 1,846,912,941 | 1,474,692 | 17,281,187 | 716,519,943 | 3,764,510 | 58,770 | 11,869,845 | 1,447,444,410 | (351,500,447) | 1,846,912,910 | 31 |
Reserve creation | 0 | 9,638,514 | 83,834,379 | (93,472,893) | |||||||
Distribution of Profits | |||||||||||
Use of Reserve and distribution of cash dividends | (99,297,388) | (99,297,388) | (99,297,388) | ||||||||
Other reserves | 19 | 19 | 19 | ||||||||
Total Comprehensive Income for the Year | |||||||||||
Net Income for the Year | 151,257,454 | 151,257,426 | 151,257,426 | 28 | |||||||
Other Comprehensive Income for the Year | (2,991,155) | (3,516,892) | 525,737 | (2,991,155) | |||||||
Equity, Ending balance at Dec. 31, 2022 | 1,895,881,871 | 1,474,692 | 17,281,187 | 716,519,943 | 247,618 | 584,507 | 21,508,359 | 1,531,278,808 | (393,013,302) | 1,895,881,812 | 59 |
Reserve creation | 0 | 8,012,540 | 126,656,932 | (134,669,472) | |||||||
Distribution of Profits | |||||||||||
Use of Reserve and distribution of cash dividends | (217,441,420) | (191,860,028) | (25,581,333) | (217,441,361) | (59) | ||||||
Other reserves | 4 | 4 | 4 | ||||||||
Business combination | 91,245 | 91,245 | |||||||||
Total Comprehensive Income for the Year | |||||||||||
Net Income for the Year | 337,169,628 | 337,172,143 | 337,172,143 | (2,515) | |||||||
Other Comprehensive Income for the Year | 1,542,671 | 671,527 | 871,144 | 1,542,671 | |||||||
Equity, Ending balance at Dec. 31, 2023 | $ 2,017,243,999 | $ 1,474,692 | $ 17,281,187 | $ 716,519,943 | $ 919,145 | $ 1,455,651 | $ 29,520,899 | $ 1,466,075,716 | $ (216,091,964) | $ 2,017,155,269 | $ 88,730 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Income before Taxes from Continuing Operations | $ 543,010,109 | $ 204,098,950 | $ 288,143,700 |
Adjustment to Obtain the Operating Activities Flows: | |||
Expected credit loss allowance | 190,682,814 | 163,294,445 | 133,151,102 |
Depreciation Expenses | 84,278,588 | 86,811,560 | 87,941,850 |
Loss on Net Monetary Position | 1,518,506,605 | 851,315,576 | 482,259,367 |
Other Operations | 704,536,747 | 560,286,925 | 737,888,030 |
Net (Increases)/Decreases from Operating Assets: | |||
Debt securities measured at fair value through profit or loss | (347,700,732) | 105,254,874 | (81,723,543) |
Derivative Financial Instruments | (24,927,325) | (2,798,175) | 12,258,537 |
Repurchase Transactions | 15,181,473 | 803,762 | (771,995) |
Other Financial Assets | 12,241,117 | (25,729,029) | (47,687,976) |
Net Loans and Other Financing | |||
Non-financial Public Sector | 3,099,869 | (4,005,403) | 44 |
Other Financial Institutions | (56,044,391) | 55,300,887 | 56,800,539 |
Non-financial Private Sector and Residents Abroad | 584,704,945 | 435,732,033 | 106,470,693 |
Other Debt Securities | (784,480,453) | (569,483,524) | (361,134,938) |
Financial Assets Pledged as Collateral | 42,102,334 | (259,919,672) | (42,360,473) |
Investments in Equity Instruments | (3,680,056) | 621,704 | 38,398,222 |
Other Non-financial Assets | (34,207,249) | (10,829,640) | 4,568,098 |
Non-current Assets Held for Sale | (71,024) | 90 | 264,544 |
Deposits | |||
Non-financial Public Sector | (63,720,349) | (27,378,963) | (39,931,242) |
Financial Sector | 593,298 | 1,041,325 | 2,595,536 |
Non-financial Private Sector and Residents Abroad | (899,375,394) | 412,804,411 | 128,759,198 |
Liabilities at fair value through profit or loss | 49,241,486 | (215,447) | 459,040 |
Derivative Financial Instruments | 6,963,147 | 955,819 | 3,793,761 |
Other Financial Liabilities | 193,449,957 | (104,906,656) | 301,001,637 |
Provisions | (11,546,983) | 5,356,109 | (7,997,456) |
Other Non-financial Liabilities | 75,608,616 | 10,521,838 | 1,360,982 |
Income Tax Payments | (131,146,251) | (94,647,106) | (88,979,082) |
NET CASH GENERATED BY OPERATING ACTIVITIES (A) | 1,667,300,898 | 1,794,286,693 | 1,715,528,175 |
Payments: | |||
Purchase of PP&E and Intangible Assets | (74,018,545) | (57,704,506) | (60,315,949) |
Capital Contributions and purchase of shares in Investments in Subsidiaries, Associates, and Joint Ventures | (2,520,655) | (2,420,874) | (1,268,578) |
Payments for business combinations | (11,149,830) | 0 | 0 |
Collections: | |||
Sale of PP&E and Intangible Assets | 4,815,496 | 1,893,007 | 3,944,258 |
Dividends earned | 1,015,077 | 0 | 6,304,470 |
Sales of Investments in Subsidiaries, Associates and Joint Ventures | 0 | 0 | 274,076 |
NET CASH USED IN INVESTMENT ACTIVITIES (B) | (81,858,457) | (58,232,373) | (51,061,723) |
Payments: | |||
Unsubordinated Debt Securities | (157,188,276) | (124,998,913) | (103,467,999) |
Loans from Local Financial Institutions | (335,727,529) | (160,146,015) | (107,656,543) |
Dividends | (179,275,944) | (66,213,933) | (11,682,545) |
Leases payments | (6,372,889) | (8,331,048) | (10,531,399) |
Collections: | |||
Debt Securities | 75,020,756 | 209,971,829 | 144,871,361 |
Loans from Local Financial Institutions | 373,779,755 | 233,677,686 | 139,594,879 |
NET CASH (USED IN)/GENERATED BY FINANCING ACTIVITIES (C) | (229,764,127) | 83,959,606 | 51,127,754 |
EXCHANGE INCOME ON CASH AND CASH EQUIVALENTS (D) | 1,034,032,734 | 559,890,391 | 269,313,377 |
NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C+D) | 2,389,711,048 | 2,379,904,317 | 1,984,907,583 |
MONETARY LOSS RELATED TO CASH AND CASH EQUIVALENTS | (3,253,931,939) | (2,142,479,236) | (1,559,297,173) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 4,131,560,418 | 3,894,135,337 | 3,468,524,927 |
CASH AND CASH EQUIVALENTS AT END OF THE YEAR | $ 3,267,339,527 | $ 4,131,560,418 | $ 3,894,135,337 |
Accounting Policies and Basis f
Accounting Policies and Basis for Preparation | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of significant accounting policies [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; Galicia Securities S.A.U. a settlement and compensation agent and Trading Agent – Own Portfolio; Agri Tech Investments LLC, a company that seeks to provide a digital ecosystem that optimizes agricultural management in a practical and integrated way; Galicia Investments LLC and Galicia Ventures LP, companies dedicated to facilitating investment initiatives within the Open Innovation and Corporate Venturing program; and Galicia Holdings US Inc., parent company of Galicia Capital US LLC, a company dedicated to reaching new customers by incorporating a wide range of financial instruments and enabling the development of innovative credit products. These consolidated financial statements were approved and authorized for publication through Minutes of Board of Directors’ Meeting No. 706 dated April 26, 2024. 1.1. BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with IFRS Accounting 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 March 4, 2024. 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, irrespective of whether they are based on the historical cost or the current cost method. Accordingly, in general terms, non-monetary items should be adjusted for inflation occurring since the acquisition date or since the revaluation date, as the case may be. These requirements are also applicable to the comparative information reported in the financial statements. According to IAS 29, monetary assets and liabilities are not required to be restated, for they are stated in the measurement unit as of the end of the reporting period. Assets and liabilities subject to adjustments based on specific agreements will be adjusted on the basis of such agreements. Non-monetary items measured at their fair values at the end of the reporting period, such as net realizable value or otherwise, will not be restated. The other non-monetary assets and liabilities will be restated by applying a general price index. The income (loss) from the net monetary position will be charged to net income for the reporting period in a separate item. In order to conclude whether a given economy qualifies as hyperinflationary pursuant to the terms of IAS 29, the standard sets forth certain factors that should be considered, including a three-year cumulative inflation rate reaching or exceeding 100%. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy , in preparing these consolidated financial statements for all years presented. These consolidated financial statements are based on a historical cost. (c) New Accounting Standards The Group has applied the following standards for the first time as of January 1, 2023: Amendments to IAS 1 Presentation of Financial Statements, IFRS Practice Statement 2 and IAS 8 Accounting Standards, Changes in Accounting Estimates and Errors. Item The IASB amended IAS 1 Presentation of Financial Statements to require companies to disclose material accounting standards if its omission affects users' understanding of financial statements of other material information, rather than significant accounting standards. In support of this amendment, the Board also amended IFRS Practice Statement 2 Making Judgments Related to Materiality to provide guidance on how to apply the concept of materiality to accounting standard disclosures. Publication date February 2021 Effective date Fiscal year beginning on or after January 1, 2023. Impact It does not have a significant impact on the Group's financial statements. Amendments to IAS 12 - Deferred taxes related to assets and liabilities derived from a single transaction. Item These amendments require companies to recognize deferred taxes on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. Publication date May 2021 Effective date Fiscal year beginning on or after January 1, 2023. Impact It does not have a significant impact on the Group's financial statements. Annual improvements - IFRS 11 and IFRS 15 IFRS 11 Disposal of Long-Lived Assets and Discontinued Operations and NIF C-11, Stockholders' Equity: It incorporates the accounting treatment in the event that in a distribution of dividends or capital reimbursement through long-lived assets there is a difference between the book value of the long-lived assets held to distribute to owners that will be used to settle said transaction and the liability recognized on the date that the dividends or capital reimbursements are settled. Item IFRS 15 Translation of Foreign Currencies: Modifies the practical solution to not translate the financial statements from the recording currency to the functional currency, in order to be precise and make it clearer that in the event that they do not have subsidiaries or controllers, they must also meet the requirement of not having users who require the financial statements considering the effects of the translation to the functional currency. Publication date March 2023. Effective date As of January 2023. Impact It does not have a significant impact on the Group's financial statements. IAS 33 - Earnings per Share Item Establishes rules for calculating and presenting basic earnings per share (EPS), both in ordinary and dilution situations. Certain aspects related to preferred dividends are clarified and indications are given on how to determine if certain financial instruments are dilutive or not for the EPS calculation. Additionally, it is specified that the shares issued for the translation of a financial instrument must be considered in the calculation of the basic EPS from the date the corresponding contract is signed. Publication date March 2023. Effective date As of January 2023. Impact It does not have a significant impact on the Group's financial statements. IFRS 17 “Insurance contracts.” Item It provides a comprehensive, principles-based framework for the measurement and presentation of all insurance contracts. The new standard will replace IFRS 4 “Insurance contracts” requires an entity to recognize the profit of a group of contracts throughout the period in which the entity provides the services, and as the entity is released from risk. If a group of contracts contains or becomes loss-producing, the entity is required to immediately recognize those losses. The standard also requires that income from insurance ordinary activities, insurance service expenses and insurance finance income or expenses be presented separately. Publication date May 2017, with modifications in June 2020 and December 2021. Effective date 1st. January 2023. Impact As of the date of adoption, it resulted in a decrease in equity and net income of Ps.67,239 (Ps.209,387 expressed in closing currency). On January 1, 2023, the Group adopted IFRS 17 ‘Insurance Contracts’. As required by the Standard, the Group applied the requirements retrospectively as from the transition date (January 1, 2022) with comparative data for periods before the transition date presented as previously published under IFRS 4 ‘Insurance Contracts’. IAS 1 ‘Presentation of Financial Statements’ requires that a third statement of financial position as of the transition date of January 1, 2022 to be disclosed, since the impact of the application is not material the Group decided not to present such statement. The Group has determined that reasonable and supportable information was available for all contracts in force at the transition date. Accordingly, the Group has: identified, recognized and measured each group of insurance contracts and each insurance acquisition cash flows asset in this category as if IFRS 17 had always applied; derecognized any existing balances that would not exist if IFRS 17 had always applied; and recognized any resulting net difference in equity. At the transition date, the implementation of this Standard was not material for the Group. (d) 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, 2023, and have not been early adopted by the Group: Amendments to IAS 1 - Presentation of Financial Statements on the Classification of Liabilities. Item The amendments to IAS 1 clarify that liabilities will be classified as current or non-current depending on the rights that exist at the end of the reporting period. This classification is not affected by the entity's expectations or events that occurred after the reporting date, it also clarifies what IAS 1 refers to when it refers to the “settlement” of a liability. Publication date November 2022. Effective date As of January 2024. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. Amendments to IFRS 16 - Leaseback. Item These amendments include requirements for leaseback transactions in IFRS 16 in order to explain how an entity accounts for a leaseback after the transaction date. Leaseback transactions where some or all of the lease payments are variable payments that do not depend on an index or rate are likely to be affected. Publication date September 2022. Effective date As of January 2024. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. Amendments to IAS 7 and IFRS 7 - Disclosures about Supplier Financing Arrangements (SFAs) Item These amendments include specific disclosures about vendor financing arrangements (SFAs) in order to assess how they affect an entity's liabilities, cash flows, and liquidity risk. As well as to increase the transparency of these agreements. Publication date May 2023. Effective date As of January 2024. Impact No significant impact on the Group's financial statements. Amendments to IAS 21 - Lack of Exchangeability Item The amendment provides guidance for entities to apply a consistent approach to the assessment of whether a currency is convertible at the measurement date and for a specific purpose, and if not, the determination of the exchange rate to be used for measurement purposes and the disclosures to be provided in their financial statements. A currency is convertible when there is the possibility of exchanging it for another currency, with normal administrative delays, and the transaction occurs through markets or exchange mechanisms that create enforceable rights and obligations. Publication date August 2023. Effective date As of January 2025. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. 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, 2023. The accounting policies applied by Sudamericana Holding SA. are established by the National Insurance Superintendency and have been adjusted to those applied by the Group in preparing its consolidated financial statements. Intercompany transactions, balances and unrealized gains on transactions between Group’s companies were eliminated. See Note 51. Non-controlling interest in the results and equity of consolidated subsidiaries are shown separately in the consolidated statement of income, consolidated statement of other comprehensive income, consolidated statement of changes in shareholder’s equity and consolidated statement of financial position, respectively. In accordance with the provisions of IFRS 3 “Business combinations”, the acquisition method is used to account for the acquisition of subsidiaries. The identifiable assets and liabilities acquired, and contingent liabilities assumed in a business combination are measured at their fair values on the acquisition date. Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and, in a business combination achieved in stages, the fair value of the acquirer’s previously held equity interest in the acquiree; over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. The consideration transferred in a business combination is measured at the fair value of the assets transferred by the acquirer, the liabilities assumed by the acquirer with the previous owners of the investee, and the equity instruments issued by the acquirer. The transaction costs are recognized as expenses in the periods in which the costs have been incurred and the services have been received, except for the transaction costs incurred to issue equity instruments that are deducted from equity, and the transaction costs incurred to issue debt that are deducted from their carrying amount. 1.3. TRANSACTIONS WITH NON-CONTROLLING INTEREST The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized within equity attributable to owners of the Group. 1.4. ASSOCIATES Associates are entities over which the Group has significant direct or indirect influence, but not control; generally, this implies holding between 20 and 50 percent of the voting rights. Investments in associates are accounted for using the equity method and are initially recognized at cost. The carrying amount of the associates includes the goodwill identified in the acquisition less the accumulated impairment losses, if any. Dividends received from associates reduce the carrying amount of the investment. Other changes subsequent to the acquisition of the Group’s interest in the net assets of an associate are recognized as follows: (i) the Group’s interest in the profits or losses of the associates is accounted under Share of Profit from Associates and Joint Ventures in the consolidated statement of income and (ii) the Group’s interest in other comprehensive income is recognized in the consolidated statement of other comprehensive income and presented separately. However, when the Group’s share in losses in an associate equal or exceeds its interest in it, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the associate. Unrealized profits on transactions between the Group and its associates are eliminated to the extent of the Group’s interest in the associates; unrealized losses are also eliminated unless the transaction provides evidence of impairment in the transferred asset. 1.5. SEGMENT REPORTING An operating segment is a component of an entity (a) that conducts business activities from which it can earn revenues and incur expenses (including revenues and expenses related to transactions with other components of the same entity); (b) whose operating income is regularly reviewed by the Group´s CODM (chief operating decision maker) to make decisions about the resources to be allocated to the segment and assess its performance; and (c) for which confidential financial information is available. Segment reporting is presented consistently with the internal reports submitted to the Board of Directors (CODM of the Group), which is responsible for making the Group’s strategic decisions, allocating resources and assessing the performance of the operating segments. 1.6. FOREIGN CURRENCY TRANSLATION (a) Functional Currency and Presentation Currency The figures included in the consolidated financial statements of the Group´s entities are stated in their functional currency, that is, the currency used in the primary economic environment where it operates. The consolidated financial statements are stated in Argentine pesos (Ps.), which is the Group’s functional and presentation currency. See Note 1.1. (b) Transactions and Balances The transactions in foreign currency are translated into the functional currency using the exchange rate at the dates of the transactions. Profits and losses in foreign currency resulting from the settlement of these transactions and the translation of monetary assets and liabilities in foreign currency at closing exchange rate, are recognized under “Exchange rate differences on gold and foreign currency” in the statement of income, except when they are deferred in equity by transactions which qualify as cash flows hedges, if appropriate. Assets and liabilities in foreign currency are measured at the reference exchange rate of the US dollar defined by the Argentine Central Bank at the closing of operations on the last business day of each month. As of December 31, 2023, and December 31, 2022, balances in U.S. Dollars were translated at the reference exchange rate (Ps.808.48 and Ps.177.13, 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 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 and bonds. Classification As established by IFRS 9, the Group classifies financial assets according to how they are subsequently measured: at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss, based on: • the Group’s business model to manage financial assets; and • the characteristics of contractual cash flows of the financial asset. Business Model The Business Model refers to the way in which the Group manages a set of financial assets to reach a specific business objective. It represents the way the Group manages its financial instruments to generate cash flows. Business models that the Group can follow are listed below: • Hold the instruments to collect its contractual cash flows; • Hold the instruments in the portfolio to collect contractual cash flows and, in turn, sell them when deemed convenient; or; • Hold the instruments for trading. The Group’s Business Model does not depend on the intentions that it may have for an individual instrument. Therefore, this condition is not an instrument-by-instrument classification approach, but it is determined from a higher level of aggregation. The Group only reclassifies an instrument when, and only when, the business model for managing financial assets is modified. 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 and capital; 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 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 comprise: • 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 amount. These financial instruments are initially recognized at fair value and any gain o loss is recognized in the statement of income as they are realized. The Group classifies a financial instrument as held for trading if it is acquired or incurred for the main purpose of selling or repurchasing it in the short term, or if it is part of a portfolio of financial instruments that are jointly managed and for which there is evidence of short-term earnings, or is a derivative financial instrument not designated as a hedging instrument. Derivative instruments and held-for-trading securities are classified as held for trading and measured at fair value. 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 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 receive |
Critical Accounting Estimates
Critical Accounting Estimates | 12 Months Ended |
Dec. 31, 2023 | |
Critical accounting estimates [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 THE EXPECTED CREDIT LOSS ALLOWANCE The Group records the allowance for loan losses under the expected credit losses (ECL) method included in IFRS 9. The most significant judgments of the model relate to making assumptions about macroeconomic scenarios to determine the forward looking factor. 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 ASSETS Intangible assets with finite useful lives and property, plant and equipment are amortized or depreciated on a straight-line basis during their estimated useful life. The Group monitors the conditions related to these assets to determine whether the events and circumstances require a review of the remaining amortization or depreciation term, and whether there are factors or circumstances indicating impairment in the value of the assets that cannot be recovered. The Group has applied judgment to identify impairment indicators for property, plant and equipment and intangible assets. The Group has concluded that there were no impairment indicators for any of the years reported in its consolidated financial statements. d. INCOME TAX AND DEFERRED TAX Significant judgment is required when determining current and deferred tax assets and liabilities. The current income tax is accounted according to the amounts expected to be paid; while deferred income tax is accounted on the basis of temporary differences between carrying amount of assets and liabilities and their tax base, at the rates expected to be in force at the time of their reversal. A deferred tax asset is recognized when future taxable income is expected to exist to offset such temporary differences, based on Management’s assumptions about the amounts and timing of such future taxable income. 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. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Financial instruments [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 12.31.23 Fair Value Amortized Cost Fair Value Assets Cash and Due from Banks — 1,995,884,822 — Argentine Central Bank’s Bills (*) — 316,319,663 — Government Securities (*) 572,828,611 — — Corporate Securities (*) 25,966,254 — — Derivative Financial Instruments 35,290,286 — — Repurchase Transactions — 1,170,165,239 — Other Financial Assets 49,300,833 128,802,703 — Loans and Other Financing — 3,080,706,325 — Other Debt Securities (*) — 1,588,686,366 21,328,319 Financial Assets Pledged as Collateral 36,054,319 395,502,883 — Investments in Equity Instruments 9,637,518 — — Liabilities Deposits — 5,707,779,943 — Liabilities at fair value through profit or loss 49,485,078 — — Derivative Financial Instruments 12,238,747 — — Repurchase Transactions — 23,346,266 — Other Financial Liabilities — 1,273,329,296 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 138,128,699 — Debt Securities — 92,715,512 — Subordinated Debt Securities — 205,612,893 — (*) Recorded in Debt Securities at fair value trough profit or loss, except for Argentine Central Bank´s Bills at amortized cost that are recorded in Other debt securities. Portfolio of Instruments as of 12.31.22 Fair Value Amortized Cost Fair Value Assets Cash and Due from Banks — 1,393,686,854 — Argentine Central Bank’s Bills (*) 2,242,639,562 — — Government Securities (*) 220,650,695 — — Corporate Securities (*) 3,900,088 — — Derivative Financial Instruments 10,362,961 — — Repurchase Transactions — 359,750,280 — Other Financial Assets 32,881,802 141,558,441 — Loans and Other Financing — 3,871,626,785 — Other Debt Securities — 1,130,358,620 11,495,275 Financial Assets Pledged as Collateral 2,263,880 471,395,656 — Investments in Equity Instruments 6,972,539 — — Liabilities Deposits — 6,670,282,388 — Liabilities at fair value through profit or loss 243,592 — — Derivative Financial Instruments 5,275,600 — — Other Financial Liabilities — 1,086,252,228 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 116,684,862 — Debt Securities — 209,587,705 — Subordinated Debt Securities — 141,394,653 — (*) Recorded in Debt Securities at fair value trough profit or loss. |
Fair Values
Fair Values | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of fair value measurement of assets [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. Fair Value Level 2: The fair value of financial instruments not traded in active markets, for example, over-the-counter derivatives, is determined using valuation techniques that maximize the use of observable inputs. If all the significant inputs required to obtain the fair value of a financial instrument are observable, the instrument is included in Level 2. If all or some of the inputs required to determine the price are not observable, the instrument will be included in Level 3. Fair Value Level 3: If one or more relevant inputs are not based on observable market data, the instrument is included in Level 3. 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). 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 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 12.31.23 Fair Value Fair Value Fair Value Assets Government Securities 571,896,244 932,367 — Corporate Securities 25,241,227 476,850 248,177 Derivative Financial Instruments 20,656 35,269,630 — Other Debt Securities 10,641,603 10,686,716 — Other Financial Assets 49,279,292 21,541 — Financial Assets Pledged as Collateral 36,054,319 — — Investments in Equity Instruments 2,709,730 — 6,927,788 Liabilities Liabilities at fair value through profit or loss (*) 49,485,078 — — Derivative Financial Instruments — 12,238,747 — Total 646,357,993 35,148,357 7,175,965 (*) They include the operations of obligations for operations with Government Securities of third parties. Portfolio of Instruments as of 12.31.22 Fair Value Fair Value Fair Value Assets Argentine Central Bank’s Bills and Notes — 2,242,639,562 — Government Securities 215,084,330 5,566,365 — Corporate Securities 1,412,278 542,391 1,945,419 Derivative Financial Instruments 1,915 10,361,046 — Other Debt Securities 2,897,323 8,597,952 — Other Financial Assets 32,881,802 — — Financial Assets Pledged as Collateral 2,263,880 — — Investments in Equity Instruments 338,348 — 6,634,191 Liabilities Liabilities at fair value through profit or loss (*) 243,592 — — Derivative Financial Instruments — 5,275,600 — Total 254,636,284 2,262,431,716 8,579,610 (*) Include the operations of obligations for operations with Government Securities of third parties. The evolution of instruments included in Level 3 Fair Value is detailed below: Level 3 12.31.22 Transfers(*) Recognition Derecognition Income Inflation 12.31.23 Government Securities — 2,749,897 1,062,060 (4,985,512) 1,600,754 (427,199) — Corporate Securities 1,945,419 1,856,416 9,933,303 (9,540,392) 1,349,458 (5,296,027) 248,177 Investments in Equity Instruments 6,634,191 — 803,936 (2,606,782) 10,240,161 (8,143,718) 6,927,788 Total 8,579,610 4,606,313 11,799,299 (17,132,686) 13,190,373 (13,866,944) 7,175,965 (*) Include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.21 Transfers(*) Recognition Derecognition Income Inflation 12.31.22 Government Securities 10,480,898 (5,047,541) 4,304,669 (9,183,047) 3,756,809 (4,311,788) — Corporate Securities 2,051,529 1,731,744 5,149,409 (7,522,945) 816,028 (280,346) 1,945,419 Other Financial Assets 33,880,513 — — (17,393,070) — (16,487,443) — Investments in Equity Instruments 7,202,470 — — — 4,035,753 (4,604,032) 6,634,191 Total 53,615,410 (3,315,797) 9,454,078 (34,099,062) 8,608,590 (25,683,609) 8,579,610 (*) 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 12.31.23 Book Value Fair Value Fair Value Fair Value Fair Value Assets Cash and Due from Banks 1,995,884,822 1,995,884,822 1,995,884,822 — — Repurchase Transactions 1,170,165,239 1,170,165,239 1,170,165,239 — — Loans and Other Financing 3,080,706,325 3,084,867,731 — — 3,084,867,731 Other Financial Assets 128,802,703 136,564,439 101,665,092 — 34,899,347 Other Debt Securities (*) 1,905,006,029 1,905,434,511 1,610,412,185 26,543,350 268,478,976 Financial Assets Pledged as Collateral 395,502,883 395,560,476 395,560,476 — — Liabilities Deposits 5,707,779,943 5,708,459,474 — — 5,708,459,474 Repurchase Transactions 23,346,266 23,346,266 — — 23,346,266 Financing Received from the Argentine Central Bank and Other Financial Institutions 138,128,699 137,743,790 — — 137,743,790 Debt Securities 92,715,512 91,166,210 75,714,905 — 15,451,305 Subordinated Debt Securities 205,612,893 201,085,205 — — 201,085,205 Other Financial Liabilities 1,273,329,296 1,272,854,309 — — 1,272,854,309 (*) Includes Argentine Central Bank´s Bills for the sum of Ps.316,319,663. Items of Assets/Liabilities as of 12.31.22 Book Value Fair Value Fair Value Fair Value Fair Value Assets Cash and Due from Banks 1,393,686,854 1,393,686,854 1,393,686,854 — — Repurchase Transactions 359,750,280 359,750,280 359,750,280 — — Loans and Other Financing 3,871,626,785 3,882,225,090 — — 3,882,225,090 Other Financial Assets 141,558,441 145,866,952 120,896,437 — 24,970,515 Other Debt Securities 1,130,358,620 1,109,609,241 — — 1,109,609,241 Financial Assets Pledged as Collateral 471,395,656 471,395,656 471,395,656 — — Liabilities Deposits 6,670,282,388 6,670,131,209 — — 6,670,131,209 Financing Received from the Argentine Central Bank and Other Financial Institutions 116,684,862 115,342,645 — — 115,342,645 Debt Securities 209,587,705 205,194,182 185,328,632 — 19,865,550 Subordinated Debt Securities 141,394,653 139,132,579 — — 139,132,579 Other Financial Liabilities 1,086,252,228 1,085,225,226 — — 1,085,225,226 |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [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: 12.31.23 12.31.22 12.31.21 Net cash and Due from Banks (1) 1,995,884,822 1,393,686,854 1,440,233,266 Argentine Central Bank’s Bills and Notes Maturing up to 90 days (2) 26,543,350 2,242,639,562 1,101,389,597 Receivables from Active Passes (2) 1,160,625,855 358,375,689 1,228,501,588 Loans to Financial Institutions (3) 6,000,000 16,407,135 39,929,501 Overnight Placements in Foreign Banks (3) 17,579,519 78,447,226 34,065,960 Mutual Funds (4) 48,786,211 32,881,801 26,945,400 Time Deposits Maturing up to 90 days (5) 11,919,770 9,122,151 23,070,025 Total Cash and Cash Equivalents 3,267,339,527 4,131,560,418 3,894,135,337 (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 Debt Securities at Fair Value through Profit or Loss. (5) Included within Other Financial Assets. The reconciliation of financing activities as of December 31, 2023, 2022 and 2021 is presented below: Item Balances at 31.12.22 Cash flow payments Cash flow receipts Other movements Balances at 31.12.23 Lease Liabilities 23,902,091 (6,372,889) — 11,931,614 29,460,816 Debt Securities 209,587,705 (157,188,276) 75,020,756 (34,704,673) 92,715,512 Subordinated Debt Securities 141,394,653 — — 64,218,240 205,612,893 Financing Received from the Argentine Central Bank and Other Financial Institutions 116,684,862 (335,727,529) 373,779,755 (16,608,389) 138,128,699 Total 491,569,311 (499,288,694) 448,800,511 24,836,792 465,917,920 Item Balances at 31.12.21 Cash flow payments Cash flow receipts Other movements Balances at 31.12.22 Lease Liabilities 26,578,829 (8,331,048) — 5,654,310 23,902,091 Debt Securities 169,677,031 (124,998,913) 209,971,829 (45,062,242) 209,587,705 Subordinated Debt Securities 159,387,627 — — (17,992,974) 141,394,653 Financing Received from the Argentine Central Bank and Other Financial Institutions 143,882,388 (160,146,015) 233,677,686 (100,729,197) 116,684,862 Total 499,525,875 (293,475,976) 443,649,515 (158,130,103) 491,569,311 Item Balances at 31.12.20 Cash flow payments Cash flow receipts Other movements Balances at 31.12.21 Lease Liabilities 39,951,919 (10,531,399) — (2,841,691) 26,578,829 Debt Securities 156,330,866 (103,467,999) 144,871,361 (28,057,198) 169,677,031 Subordinated Debt Securities 198,262,734 — — (38,875,107) 159,387,627 Financing Received from the Argentine Central Bank and Other Financial Institutions 126,614,543 (107,656,543) 139,594,879 (14,670,491) 143,882,388 Total 521,160,062 (221,655,941) 284,466,240 (84,444,487) 499,525,875 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, 2023 | |
Debt securities at fair value through profit or loss [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, 2023 | |
Disclosure of detailed information about financial instruments [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 Sheet Items The accrued balances pending settlement are disclosed in the “Derivative Financial Instruments” line, in Assets and/or Liabilities, as appropriate. PURCHASE - SALE TAKEN WITH DELIVERY OF THE UNDERLYING ASSET As from July 2022, the Argentine Central Bank may make put option bids on securities issued by the National Treasury. Put option contracts are non-transferable and such options may be exercised at any time, from 5 business days after the security settlement until the date established in the option term. The call premiums of the options are set by the Argentine Central Bank prior to the bids, and auctions end by price acceptance. Put option contracts are intended for those instruments with maturities until December 31, 2025. The exercise price arises from the nominal rates traded for the underlying asset the day before the exercise date, considering the highest rate between the average rate traded on the day and the closing value for the market with the highest volume traded between Argentine Stock Exchanges and Markets (Bolsas y Mercados Argentinos, BYMA) and MAE, plus an additional charge set by the Argentine Central Bank. The transactions are recorded in Off-Balance Sheet Items, at exercise price. The balances for the transaction premiums are exposed in Assets, in the “Derivative Financial Instruments” line. The amounts of transactions as of December 31, 2023, and 2022 are as follows: Underlying Asset Type of Settlement 12.31.23(*) 12.31.22(*) Currency Forward Transactions Purchases Foreign currency Daily difference 652,431,194 533,067,085 Sales Foreign currency Daily difference 590,737,106 416,301,506 Customers´ Purchases Foreign currency Daily difference 84,103,301 50,021,964 Customers´ Sales Foreign currency Daily difference 54,639,485 244,301,445 Repurchase Transactions Forward Purchases Government Securities With delivery of the underlying asset 23,566,922 — Forward Sales Government Securities With delivery of the underlying asset 1,205,775,644 392,985,152 Options Put options taken Government Securities With delivery of the underlying asset 2,464,070,256 781,066,913 Put options taken Foreign currency With delivery of the underlying asset — 116,093,355 (*) Notional values. For further details, refer to Schedule O. |
Repurchase Transactions
Repurchase Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of repurchase transactions [Abstract] | |
Repurchase Transactions | NOTE 8. REPURCHASE TRANSACTIONS As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.23 12.31.22 Debtors for Reserve Repurchase Transactions of Government Securities 1,160,625,855 358,375,689 Interest Accrued Receivable for Reserve Repurchase Transactions 9,539,384 1,374,591 Total Repurchase Transactions—Assets 1,170,165,239 359,750,280 12.31.23 12.31.22 Creditors for Repurchase Transactions of Government Securities 23,189,189 — Interest Accrued Payable for Repurchase Transactions 157,077 — Total Repurchase Transactions—Liabilities 23,346,266 — The notional values of the assets transferred in repurchase transactions are presented in Note 7 and Schedule O. 12.31.23 12.31.22 Reverse Repurchase Transactions recorded in Off-Balance Sheet Items 1,167,219,902 358,376,116 Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral 18,891,202 — |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other financial assets [abstract] | |
Other Financial Assets | NOTE 9. OTHER FINANCIAL ASSETS As of the indicated dates, the balances of “Other Financial Assets” were as follows: 12.31.23 12.31.22 Receivables from Spot Sales of Foreign Currency Pending Settlement 11,631,346 3,598,798 Receivables from Spot Sales of Government Securities Pending Settlement 31,875,354 71,415,423 Sundry Debtors 68,945,190 58,019,662 Mutual Funds 49,245,412 32,881,801 Premiums from financial guarantee contracts 5,555,688 1,512,358 Interest accrued receivable 11,359,506 7,091,326 Fiduciary Participation Certificates 55,421 — Balances from claims pending recovery 3,924 48,885 Minus: Allowances (568,305) (128,010) Total 178,103,536 174,440,243 The credit rating quality analysis of Other Financial Assets as of December 31, 2023, was as follows: Debtors Debtors for Sundry Mutual Premiums Interest Fiduciary participation certificates Balances Not yet due 11,631,346 31,875,354 68,908,835 49,245,412 5,555,688 11,359,506 55,421 3,924 Impaired/Uncollectible — — 36,355 — — — — — Allowances — — (568,305) — — — — — Total 11,631,346 31,875,354 68,376,885 49,245,412 5,555,688 11,359,506 55,421 3,924 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. |
Loans and Other Financing
Loans and Other Financing | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of loans and other financing [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: 12.31.23 12.31.22 Non-financial Public Sector 460,847 4,000,190 Argentine Central Bank 40,796 11,466 Financial Institutions 27,298,507 42,528,958 Loans 27,298,507 42,528,958 Non-financial Private Sector and Residents Abroad 3,186,083,159 4,040,454,535 Loans 3,073,592,568 3,965,964,937 Advances 119,850,633 206,971,837 Notes 703,859,191 971,361,949 Mortgage Loans 37,915,833 60,415,652 Pledge Loans 45,092,352 79,761,541 Personal Loans 255,726,017 354,443,305 Credit Card Loans 1,706,968,422 2,025,688,014 Other Loans 49,632,674 117,074,306 Accrued Interest, Adjustments and Quotation Differences Receivable 167,597,009 166,990,268 Documented Interest (13,049,563) (16,741,935) Financial Leases 6,393,224 10,831,446 Other Financing 106,097,367 63,658,152 Less: Allowances (133,176,984) (215,368,364) Total 3,080,706,325 3,871,626,785 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. |
Other Debt Securities
Other Debt Securities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other debt securities [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, 2023 | |
Disclosure of financial assets pledged as collateral [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: 12.31.23 12.31.22 Deposits as Collateral 286,828,739 313,106,746 Special Accounts as Collateral—Argentine Central Bank 97,974,572 126,369,430 Forward Purchases of monetary regulatory instruments 46,761,090 34,682,973 Less: Allowances (7,199) (499,613) Total 431,557,202 473,659,536 The restricted availability assets are detailed in Note 52.2. |
Current Income Tax Assets
Current Income Tax Assets | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [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: 12.31.23 12.31.22 Tax Advances 2,045,887 1,277,544 Total 2,045,887 1,277,544 |
Investments In Equity Instrumen
Investments In Equity Instruments | 12 Months Ended |
Dec. 31, 2023 | |
Investments In Equity Instruments [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) On October 1, 2021, within the framework of the divestment commitment assumed by Prisma Medios de Pago S.A. ("Prisma") and its shareholders before the National Commission for the Defense of Competition, the Bank, together with all other Prisma’s Class B shareholders, notified AL ZENITH (Netherlands) B.V. (a company linked to Advent International Global Private Equity), 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. In March 2022, the Bank executed the sale of the remaining 49%of Banco Galicia´s shareholding in Prisma to AL ZENITH (Netherlands) B.V. representing 7.4% of Prisma's share capital. The final sale price contemplated in the new sale agreement signed by the parties amounted to US$54,358 to be paid as follows: (i) 30% in Pesos, adjusted by a 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, 2023 | |
Disclosure of subsidiaries [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 Equity Investment Company 12.31.23 12.31.22 12.31.23 12.31.22 Agri Tech Investments Argentina S.A.U. 199,937 199,937 100.00 % 100.00 % Agri Tech Investments LLC 1,180,032,017 199,997,240 100.00 % 100.00 % 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 — % 100.00 % Galicia Asset Management S.A.U. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,310 71,308 99.99 % 99.99 % Galicia Capital US LLC 1,000 — 100.00 % — % Galicia Holdings US Inc. 1,000 — 100.00 % — % Galicia Investments LLC 10,237,394 — 100.00 % — % Galicia Retiro Compañía de Seguros S.A.U. 27,727,278 27,727,278 100.00 % 100.00 % Galicia Securities S.A.U. 95,392,000 95,392,000 100.00 % 100.00 % Galicia Seguros S.A.U. 18,308,870 18,308,870 100.00 % 100.00 % Galicia Ventures LP 350,371,489 — 100.00 % — % Galicia Warrants S.A. 1,000,000 1,000,000 100.00 % 100.00 % Nera Uruguay S.A. (formerly Halsiuk S.A.) (**) 40 — 100.00 % — % IGAM LLC 4,750,561,179 3,503,311,179 100.00 % 100.00 % INVIU S.A.U. 809,611,333 2,469,146 100.00 % 100.00 % INVIU Capital Markets Limited 1 — 100.00 % — % INVIU Technology Limited 1 — 100.00 % — % INVIU Uruguay Agente de Valores S.A. 40,000,000 40,000,000 100.00 % 100.00 % Naranja Digital Compañía Financiera S.A.U. 1,712,567,500 1,712,567,500 100.00 % 100.00 % Sudamericana Holding S.A. 32,717,429 185,653 100.00 % 100.00 % Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) (***) 4,512,697,946 — 99.43 % — % Tarjeta Naranja S.A.U. 2,896 2,824 100.00 % 100.00 % Tarjetas Regionales S.A. 1,756,704,458 1,756,704,458 100.00 % 100.00 % Well Assistance S.A.U. 100,000 100,000 100.00 % 100.00 % (*) Company absorbed by Tarjeta Naranja S.A.U. as from October 1, 2023. (**) As of the date of issuance of these financial statements, the process for the change of name is pending registration at the Registry of Legal Entities of the ROU. (***) As of the date of issuance of these financial statements, the process of change of name is pending approval by the Superintendence of Insurance of the Nation. The following are the balances of subsidiaries, according to IFRS as of the indicated dates: 12.31.23 Company Assets Liabilities Shareholders’ Net Income (Loss) (*) Agri Tech Investments Argentina S.A.U. 2,787,696 904,641 1,883,055 (781,476) Agri Tech Investments LLC 1,303,364 — 1,303,364 (1,371,520) Banco de Galicia y Buenos Aires S.A.U. 8,662,949,001 7,011,484,525 1,651,464,476 281,633,788 Cobranzas Regionales S.A. (**) — — — (3,714,620) Galicia Asset Management S.A.U. 28,776,139 9,539,077 19,237,062 24,701,384 Galicia Broker Asesores de Seguros S.A. (***) 1,642,905 537,029 1,105,876 1,467,113 Galicia Capital US LLC 40,424 — 40,424 (15,658) Galicia Holdings US Inc. 40,432 40,424 8 4 Galicia Investments LLC 7,992 — 7,992 (7,201) Galicia Retiro Compañía de Seguros S.A.U. (***) 3,880,873 3,095,041 785,832 108,782 Galicia Securities S.A.U. 57,941,669 46,618,845 11,322,824 12,781,876 Galicia Seguros S.A.U. (***) 22,906,960 8,789,124 14,117,836 7,052,093 Galicia Ventures LP 799,228 — 799,228 220,112 Galicia Warrants S.A. 5,580,177 1,897,173 3,683,004 167,512 Nera Uruguay S.A. (formerly Halsiuk S.A.) (****) — 529 (529) 258 IGAM LLC 11,994,962 2,250 11,992,712 1,491,039 INVIU S.A.U. 49,930,173 42,180,270 7,749,903 558,616 INVIU Capital Markets Limited 18,206 17 18,189 9,403 INVIU Technology Limited 2,790 — 2,790 (2,460) INVIU Uruguay Agente de Valores S.A. 1,859,603 1,159,691 699,912 (372,663) Naranja Digital Compañía Financiera S.A.U. 245,802,363 230,814,027 14,988,336 (6,759,772) Sudamericana Holding S.A. (***) 32,504,862 2,489,822 30,015,040 11,660,967 Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) (*****) 159,225,575 143,563,039 15,662,536 455,197 Tarjeta Naranja S.A.U. 1,107,822,562 870,967,815 236,854,747 28,531,945 Tarjetas Regionales S.A. 274,378,940 11,334 274,367,606 15,440,229 Well Assistance S.A.U. (***) 554 3,321 (2,767) (2,767) ____________________ (*) Income attributable to the shareholders of the parent. (**) Net income for the nine-month period ended September 30, 2023. (***) Net income for the twelve-month period ended December 31, 2023. (****) Net income for the six-month period ended December 31, 2023. (*****) Net income for the three-month period ended December 31, 2023. 12.31.22 Company Assets Liabilities Shareholders’ Net Income (Loss) (*) Agri Tech Investments Argentina S.A.U. 922,371 248,385 673,986 19,338 Agri Tech Investments LLC 674,194 — 674,194 19,357 Banco de Galicia y Buenos Aires S.A.U. 9,131,354,980 7,569,680,665 1,561,674,315 (126,628,917) Cobranzas Regionales S.A. 12,601,303 2,556,644 10,044,659 (10,905,321) Galicia Asset Management S.A.U. 22,723,599 8,228,941 14,494,658 19,072,952 Galicia Broker Asesores de Seguros S.A. (**) 1,207,243 509,737 697,506 183,843 Galicia Retiro Compañía de Seguros S.A.U. (**) 3,770,057 3,091,618 678,439 181,703 Galicia Securities S.A.U. 16,479,976 10,224,949 6,255,027 4,482,657 Galicia Seguros S.A.U. (**) 36,416,717 22,306,927 14,109,790 7,422,669 Galicia Warrants S.A. 5,878,564 1,949,904 3,928,660 270,679 IGAM LLC 7,925,536 1,532 7,924,004 (7,826,988) INVIU S.A.U. 16,765,655 9,574,374 7,191,281 (7,499,677) INVIU Uruguay Agente de Valores S.A. 13,225,498 12,947,268 278,230 (241,241) Naranja Digital Compañía Financiera S.A.U. 100,603,593 89,709,327 10,894,266 (9,294,061) Sudamericana Holding S.A. (**) 16,350,623 40,190 16,310,433 7,495,557 Tarjeta Naranja S.A.U. 1,288,657,713 1,053,115,050 235,542,663 29,359,014 Tarjetas Regionales S.A. 266,029,478 22,867 266,006,611 3,420,330 Well Assistance S.A.U. (***) 311,408 — 311,408 — ____________________ (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2022. Corporate Reorganization Grupo Financiero Galicia S.A. and Tarjetas Regionales S.A. On March 16, 2021, the Public Registry of Commerce registered the merger-spin-off between Grupo Financiero Galicia S.A. as the merging company for the spin-off equity from Dusner S.A., Fedler S.A. and its shareholders, as spin-off companies, jointly holders of 17% of the capital stock of Tarjetas Regionales S.A.; and the capital increase of Grupo Financiero Galicia S.A. Consequently, Grupo Financiero Galicia S.A. now has control of 1,756,704,458 shares of Tarjetas Regionales S.A., which represent 100% of the capital stock and 100% of the votes. 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. Tarjeta Naranja S,A.U. and Cobranzas Regionales S.A. On July 14, 2023, the Group decided to initiate the necessary steps to carry out a merger by absorption (the “Merger”), whereby Tarjeta Naranja S.A.U. (absorbing company) absorbs Cobranzas Regionales S.A. (absorbed company) effective as from October 1, 2023. The Merger was carried out within the provisions established in Article 80, Paragraph c), and concordant articles of the Income Tax Law No. 20,628 (Ordered Text of 2019) and its regulations, with the aim, inter alia, of: (i) unifying the administration and management of both companies, with the consequent optimization of services and reduction of costs, (ii) unifying the commercial and marketing programs, (iii) increasing synergy and efficiency to provide a better and more effective customer service and a more efficient rendering of services, (iv) strengthening the payment pooling business within the economic group with the commercial experience Tarjeta Naranja S.A.U. has with its network of physical branch offices (more than 150 throughout the country), and (v) improving the organization and use of resources. The Prior Merger Agreement was executed by the parties on December 4, 2023, having been approved by the Boards of Directors of Tarjeta Naranja S.A.U. (absorbing company) and Cobranzas Regionales (absorbed company) on the same date. As of the date of issuance of these Financial Statements, the Merger is pending registration with the relevant corporate regulators (National Securities Commission, General Directorate of Legal Entities of the Province of Cordoba and the Superintendency of Corporations). Ondara S.A. liquidation and final distribution On April 13, 2022, the Ordinary and Extraordinary Shareholders' Meeting approved the early dissolution of the company and its subsequent liquidation, under the terms of the provisions of article 94, paragraph 1 of the General Law of Companies. By virtue of the net worth resulting from the Special Liquidation Financial Statements, the final distribution was made on the first day of November 2022. Participation in other controlled companies On May 20, 2022, the Board of Directors of the Company resolved the creation of the company Agri Tech Investments LLC, in the state of Delaware, United States of America in order to continue the company's business strategy of providing comprehensive financial services, in this case focused on agriculture. For this purpose, on August 16, 2022, Agri Tech Investments Argentina S.A.U. was created, located in the province of Mendoza, whose main purpose is to operate as a service agent, collection and payment management, and financing for agriculture related activities. On November 7, 2022, Well Assistance S.A.U., a company controlled by Sudamericana Holding S.A., was incorporated, whose main purpose is to provide assistance services of all kinds and/or provide services related to personal or organizational well-being directly aimed at achieving a healthier, fuller and more balanced life, targeting the general public. On December 28, 2022, it was registered in the Public Registry of Commerce. During the first quarter of 2023, the Board of Directors of Grupo Financiero Galicia S.A. decided to create two companies, Galicia Investments LLC in the state of Delaware, in the United States of America, and Galicia Ventures LP in Ontario, Canada, in order to facilitate the investment initiatives within the open innovation and corporate venturing program. On October 11, 2023, the Group acquired 99.434% of the capital stock of Seguros Sura S.A., an insurance company with insurance solutions and services for individuals and families, SMEs, large companies and the agricultural and livestock segment, served by a broad network of insurance advisors (see Business Combination). On October 23, 2023, the Board of Directors of the Company decided to create two companies in the United States of America, Galicia Holdings US Inc. in the state of Delaware, controlling Galicia Capital US LLC, in the state of Florida, a company aimed at attracting new customers by incorporating a wide range of financial instruments and enabling the development of innovative credit products. 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 12.31.23 12.31.22 Play Digital S.A. 15.69 CABA 2,650,357 2,076,371 The movements of such investment are as follows: Company 12.31.22 Contributions (1) Purchase of Profit Sharing 12.31.23 Play Digital S.A. 2,076,371 2,405,770 114,885 (1,946,669) 2,650,357 (1) Banco Galicia has made new contributions after the closing. Company 12.31.21 Contributions Sales of Profit Sharing 12.31.22 Play Digital S.A. 1,027,259 2,336,792 84,083 (1,371,763) 2,076,371 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’ Net Income Play Digital S.A. 16,255,518 6,276,551 9,978,967 (7,818,441) (*) Balances according to financial statements as of September 30, 2023, restated in closing currency. For more details see Schedule E. 15.3 Business combination On August 11, 2023 Sudamericana Holding S.A. entered into a share purchase agreement with Suramericana S.A. and Santa María del Sol S.A.U. (collectively “the seller”), whereby they agreed to sell their entire shareholding in Seguros Sura S.A. after approval of such transaction by the Argentine Superintendency of Insurance (Superintendencia de Seguros de la Nación, SSN). On September 21, 2023, the SSN approved the transaction and, as a consequence, on October 11, 2023, it was materialized through the transfer 4,512,697,946 ordinary shares with a nominal value of Ps.1 (expressed in Argentine pesos) and with one vote per share, representing 99.43% of the capital and votes of Sudamericana Seguros Galicia S.A. (formerly Seguros Sura S.A.). The acquiree company is an insurance company that offers insurance solutions and services for individuals and families, large companies and the agricultural and livestock segment, served by a broad network of insurance advisors who make it possible to achieve more than half of the insurer's turnover. The incorporation of the aforementioned company complements the marketing of insurance, which until now was only channeled through the Bank. Seguros Sura S.A. has 775,000 customers and 13 branch offices in the country and a network of approximately 5,000 insurance producers. The acquired business generated, from the insurance activity, income for the Group amounting to Ps.29,527,213 and a loss of Ps.(452,620) for the period from the acquisition date to December 31, 2023. If such acquisition had occurred on January 1, 2023, the income would have amounted to Ps.108,514,025 and the loss would have amounted to Ps.(4,292,010). The consideration paid for the business combination amounted to Ps.11,149,830. The fair value of the net assets acquired as at September 30, 2023 amounted to Ps.16,026,488. Due to the strategy of concentrating its operations in fewer countries and the need to sell the company in Argentina, the seller accepted the fair value of the price paid. Since the latter is lower than the amount of net assets acquired, the Group recorded a gain of Ps.4,876,658 in “Profit or Loss from Associates and Joint Ventures.” The fair value of the net assets acquired is currently under review and could be subject to changes within one year from the date of acquisition, in accordance with IFRS 3; however, it is estimated that no significant variations will arise from the aforementioned review. The Assets and Liabilities arising from the acquisition are detailed below: Item Fair value Assets Cash and Due from Banks 2,556,085 Investments 76,867,608 Property, Plant and Equipment 2,369,457 Reinsurance Contract Assets 16,064,907 Other Assets 12,366,070 Total Assets 110,224,127 Liabilities Provisions 561,774 Insurance Contracts Liabilities 85,121,978 Other Liabilities 8,422,642 Total Liabilities 94,106,394 Net Assets 16,117,733 Minority Interest (91,245) Net Assets Acquired 16,026,488 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Presentation of leases for lessee [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: 12.31.23 12.31.22 Right-of-use asset (1) 17,775,586 23,021,193 Real estate 17,775,586 23,021,193 Lease Liabilities (2) (29,460,816) (23,902,091) (1) Recorded in Property, Plant and Equipment. (2) Recorded in Other Financial Liabilities, see Note 25. Additions to the right-of-use assets during the financial year were Ps.5,285,656. The maturity of lease liabilities is disclosed in Note 45. (ii) Amounts recognized in the Statement of Income: 12.31.23 12.31.22 Charge for depreciation of right-of-use assets (1)(2) (6,760,728) (8,357,036) Interest Expenses (3) (3,404,429) (3,559,813) Expenses related to short-term leases (4) (111,323) (160,656) Expenses related to low-value assets leases (4) (521,042) (941,360) Sublease Income (5) 70,567 13,524 (1) Depreciation for right of use of Real Property. (2) Recorded in Depreciation Expenses, 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 assets and lease liabilities during the years 2023 and 2022 is as follows: Right-of-use assets 12.31.23 12.31.22 Balances at the beginning of the year 23,021,193 27,325,869 Additions 5,285,656 4,203,097 Cancellation of contracts (3,770,535) (150,737) Depreciation of the year (6,760,728) (8,357,036) Balances at the end of the year 17,775,586 23,021,193 Lease liabilities (1) 12.31.23 12.31.22 Balances at the beginning of the year 23,902,091 26,578,829 New contracts 5,285,656 4,203,097 Cancellation of contracts (3,770,535) (150,737) Lease payments (6,372,889) (8,331,048) Leases financial cost 3,404,429 3,559,813 Translation differences and inflation adjustment 7,012,064 (1,957,863) Balances at the end of the year 29,460,816 23,902,091 (1) Recorded in the item Other Financial Liabilities, see Note 25. The total cash flows related to leases was Ps.6,372,889. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Property, plant and equipment [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, 2023 | |
Intangible assets and goodwill [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, 2023 | |
Deferred tax assets and liabilities [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, 2023, and December 31, 2022, are as follows: Deferred Tax Assets Item 12.31.22 Inclusions Charge to 12.31.23 Valuation of Securities 486,624 — 148,607,095 149,093,719 Loans and Other Financing 63,119,380 — (10,206,870) 52,912,510 Tax Loss Carryforwards 6,559,801 — (4,108,500) 2,451,301 Insurance Contract Assets 89,035 — 1,658,304 1,747,339 Other Non-financial Assets 4,991,731 — (4,991,731) — Other Financial Liabilities 1,419,433 — (716,352) 703,081 Provisions 16,085,895 1,608,703 (5,621,520) 12,073,078 Insurance Contracts Liabilities 17,878 — — 17,878 Reinsurance Contracts Liabilities — 13,666,440 10,182,580 23,849,020 Other Non-financial Liabilities 9,641,853 1,115,336 2,991,811 13,749,000 Foreign Currency Exchange Differences 19,855 — 80,161 100,016 Inflation adjustment deferral 9,135,996 304,556 (7,742,125) 1,698,427 Others 108,157 — (108,157) — Totals 111,675,638 16,695,035 130,024,696 258,395,369 Net deferred tax assets in subsidiaries with net liability position (88,986,340) — 20,344,480 (68,641,860) Deferred tax assets 22,689,298 16,695,035 150,369,176 189,753,509 Deferred Tax Liabilities Item 12.31.22 Inclusions Charge to 12.31.23 Valuation of Securities (29,812,256) 169,300 28,731,134 (911,822) Derivate Instruments (1,444,234) — 667,935 (776,299) Other Financial Assets (1,791,599) (1,476,458) (841,000) (4,109,057) Property, Plant and Equipment (45,011,191) (2,968,242) 8,248,597 (39,730,836) Intangible Assets (29,842,201) — (658,300) (30,500,501) Reinsurance Contract Assets — — (7,261,636) (7,261,636) Other Non-financial Assets (617,727) — 138,758 (478,969) Debt Securities (233,472) — 151,160 (82,312) Subordinated Debt Securities (28,217) — 24,105 (4,112) Reinsurance Contracts Liabilities — — (524,796) (524,796) Other Non-financial Liabilities (14,496) (58,249) 72,745 — Inflation adjustment deferral (16,380) — 11,542 (4,838) Others — (1,656,577) 44,559 (1,612,018) Totals (108,811,773) (5,990,226) 28,804,803 (85,997,196) Net deferred tax liabilities in subsidiaries with net asset position 88,986,340 — (20,344,480) 68,641,860 Deferred tax liabilities (19,825,433) (5,990,226) 8,460,323 (17,355,336) Deferred Tax Assets Item 12.31.21 Charge to 12.31.22 Valuation of Securities — 486,624 486,624 Derivative Instruments 103,680 (103,680) — Loans and other financing 100,351,686 (37,232,306) 63,119,380 Tax Loss Carryforwards 5,433,297 1,126,504 6,559,801 Insurance Contract Assets — 89,035 89,035 Other Non-financial Assets 1,343,836 3,647,895 4,991,731 Other Financial Liabilities — 1,419,433 1,419,433 Provisions 1,577,805 14,508,090 16,085,895 Insurance Contracts Liabilities — 17,878 17,878 Other Non-financial Liabilities 6,324,708 3,317,145 9,641,853 Foreign Currency Exchange Differences 86,988 (67,133) 19,855 Inflation adjustment deferral 37,834,512 (28,698,516) 9,135,996 Others 683,184 (575,027) 108,157 Totals 153,739,696 (42,064,058) 111,675,638 Net deferred tax assets in subsidiaries with net liability position (127,738,387) 38,752,047 (88,986,340) Deferred tax assets 26,001,309 (3,312,011) 22,689,298 Deferred Tax Liabilities Item 12.31.21 Charge to 12.31.22 Valuation of Securities (8,409,947) (21,402,309) (29,812,256) Derivative Instruments — (1,444,234) (1,444,234) Other Financial Assets (927,614) (863,985) (1,791,599) Property, Plant and Equipment (111,309,862) 66,298,671 (45,011,191) Intangible Assets (33,910,493) 4,068,292 (29,842,201) Other Non-financial Assets (1,304,307) 686,580 (617,727) Other Financial Liabilities (830,194) 830,194 — Debt Securities — (233,472) (233,472) Subordinated Debt Securities — (28,217) (28,217) Provisions (3,949,480) 3,949,480 — Other Non-financial Liabilities — (14,496) (14,496) Inflation adjustment deferral (34,460) 18,080 (16,380) Others (4,060) 4,060 — Totals (160,680,417) 51,868,644 (108,811,773) Net deferred tax liabilities in subsidiaries with net asset position 127,738,387 (38,752,047) 88,986,340 Deferred tax liabilities (32,942,030) 13,116,597 (19,825,433) In addition, the expiration dates of tax loss carryforwards are as follows: Year of Generation Amount Year Due Deferred Tax Assets 2019 137,507 2024 34,377 2020 397,219 2025 99,305 2021 2,897,666 2026 724,417 2022 6,210,115 2027 1,552,528 2023 147,850 2028 40,674 9,790,357 2,451,301 |
Assets_Liabilities for Insuranc
Assets/Liabilities for Insurance Contracts | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of types of insurance contracts [abstract] | |
Assets/Liabilities for Insurance Contracts | NOTE 20. ASSETS/LIABILITIES FOR INSURANCE AND REINSURANCE CONTRACTS Assets and Liabilities related to insurance and reinsurance contracts as of the indicated dates are detailed as follows: Total as Life Non Life 12.31.23 Insurance contract assets 1,517,255 8,304,412 9,821,667 Insurance contract liabilities (2,341,868) (103,358,664) (105,700,532) Reinsurance contract assets — 28,616,023 28,616,023 Reinsurance contract liabilities (458,584) (1,705,054) (2,163,638) Total as Life Non Life 12.31.22 Insurance contract assets 891,407 2,604,496 3,495,903 Insurance contract liabilities (3,948,374) (119,827) (4,068,201) Reinsurance contract assets 13,182 85,584 98,766 12.31.23 12.31.22 Insurance contract assets 9,821,667 3,495,903 Insurance contract liabilities (105,700,532) (4,068,201) Liabilities for remaining coverage 19,818,148 3,170,130 Estimates of the present value of cash flows (1,835,452) (2,258,020) Risk adjustment (86,981) (29,048) Cost service margin (1,277,382) (1,674,286) Premium reserve - Simplified Model 23,017,963 7,131,484 Liabilities for incurred claims (115,697,013) (3,742,428) Estimates of the present value of cash flows (113,944,858) (3,530,506) Risk adjustment (1,752,155) (211,922) Reinsurance contract assets 28,616,023 98,766 Reinsurance contract liabilities (2,163,638) — Liabilities for remaining coverage 4,320,414 (129,390) Premium reserve - Simplified Model 4,320,414 (129,390) Liabilities for incurred claims 22,131,971 228,156 Estimates of the present value of cash flows 22,065,757 217,982 Risk adjustment 66,214 10,174 LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening insurance contract assets 7,111,168 — (3,405,560) (209,705) 3,495,903 Opening insurance contract liabilities (1,652,784) — (2,384,150) (31,267) (4,068,201) Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) Insurance revenue 95,782,121 — — — 95,782,121 Incurred claims and other directly attributable expenses — — (49,243,616) 327,915 (48,915,701) Losses on onerous contracts and reversal of those losses — (426,180) — — (426,180) Insurance acquisition cash flows amortization (9,457,404) — — — (9,457,404) Insurance service expenses (9,457,404) (426,180) (49,243,616) 327,915 (58,799,285) Insurance service result 86,324,717 (426,180) (49,243,616) 327,915 36,982,836 IAS 29 + Finance expenses from insurance contracts held (5,436,169) — 1,559,550 85,937 (3,790,682) Total amounts recognized in comprehensive income 80,888,548 (426,180) (47,684,066) 413,852 33,192,154 Cash flows Premiums received (96,017,423) — — — (96,017,423) Claims and other directly attributable expenses paid — — 37,067,756 — 37,067,756 Insurance acquisition cash flows 15,572,924 — — — 15,572,924 Total cash flows (80,444,499) — 37,067,756 — (43,376,743) Acquisitions 16,264,862 — (99,374,824) (2,012,016) (85,121,978) Net balance as at December 31, 2023 22,167,295 (426,180) (115,780,844) (1,839,136) (95,878,865) Closing insurance contract liabilities 7,315,318 (41,949) (111,268,893) (1,705,008) (105,700,532) Closing insurance contract assets 14,851,977 (384,231) (4,511,951) (134,128) 9,821,667 Net balance as at December 31, 2023 22,167,295 (426,180) (115,780,844) (1,839,136) (95,878,865) LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening reinsurance contract assets (129,391) — 217,984 10,173 98,766 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 Reinsurance expenses (5,933,320) — — — (5,933,320) Incurred claims recovery — — 5,111,635 (5,122) 5,106,513 Loss recovery component — 187,009 — — 187,009 Net income (expenses) from reinsurance contracts held (5,933,320) 187,009 5,111,635 (5,122) (639,798) IAS 29 + Finance results from reinsurance contracts held 4,366,252 — 4,111,918 (6,907) 8,471,263 Total amounts recognized in comprehensive income (1,567,068) 187,009 9,223,553 (12,029) 7,831,465 Cash flows Premiums paid net of ceding commissions and other directly attributable expenses paid 3,780,114 — — — 3,780,114 Recoveries from reinsurance — — (1,322,867) — (1,322,867) Total cash flows 3,780,114 — (1,322,867) — 2,457,247 Acquisitions 2,049,750 — 13,947,087 68,070 16,064,907 Net balance as at December 31, 2023 4,133,405 187,009 22,065,757 66,214 26,452,385 Closing reinsurance contract liabilities (3,748,254) — 1,551,671 32,945 (2,163,638) Closing reinsurance contract assets 7,881,659 187,009 20,514,086 33,269 28,616,023 Net balance as at December 31, 2023 4,133,405 187,009 22,065,757 66,214 26,452,385 LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening insurance contract liabilities 4,657,387 — (4,933,710) — (276,323) Net balance as at December 31, 2021 4,657,387 — (4,933,710) — (276,323) Insurance revenue 69,488,357 — — — 69,488,357 Incurred claims and other directly attributable expenses — — (29,764,992) (240,972) (30,005,964) Insurance acquisition cash flows amortization 2,759,093 — — — 2,759,093 Insurance service expenses 2,759,093 — (29,764,992) (240,972) (27,246,871) Insurance service result 72,247,450 — (29,764,992) (240,972) 42,241,486 IAS 29 + Finance expenses from insurance contracts held (8,883,359) — 643,265 — (8,240,094) Total amounts recognized in comprehensive income 63,364,091 — (29,121,727) (240,972) 34,001,392 Cash flows Premiums received (64,412,277) — — — (64,412,277) Claims and other directly attributable expenses paid — — 28,265,727 — 28,265,727 Insurance acquisition cash flows 1,849,183 — — — 1,849,183 Total cash flows (62,563,094) — 28,265,727 — (34,297,367) Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) Closing insurance contract liabilities (1,652,784) — (2,384,150) (31,267) (4,068,201) Closing insurance contract assets 7,111,168 — (3,405,560) (209,705) 3,495,903 Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening reinsurance contract assets 17,449 — 427,347 — 444,796 Opening reinsurance contract liabilities — — — — — Net balance as at December 31, 2021 17,449 — 427,347 — 444,796 Reinsurance expenses (2,525,629) — — — (2,525,629) Incurred claims recovery — — 349,007 10,173 359,180 Net income (expenses) from reinsurance contracts held (2,525,629) — 349,007 10,173 (2,166,449) IAS 29 + Finance results from reinsurance contracts held 130,807 — (248,965) — (118,158) Total amounts recognized in comprehensive income (2,394,822) — 100,042 10,173 (2,284,607) Cash flows Premiums paid net of ceding commissions and other directly attributable expenses paid 2,247,982 — — — 2,247,982 Recoveries from reinsurance — — (309,405) — (309,405) Total cash flows 2,247,982 — (309,405) — 1,938,577 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 Closing reinsurance contract assets (129,391) — 217,984 10,173 98,766 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 Insurance liabilities were recorded using the current estimates of future cash flows derived from insurance contracts. The assumptions used are as follows: 12.31.23 12.31.22 Mortality Table 1983 Table A 1983 Table A Investment (Discount) Rate Products in US$: 4.64% annually Products in US$: 4.84% annually Products in Ps.: 181.38% annually Products in Ps.: 108.46% annually Life Insurance Reference Rate 75% of the projection of the BADLAR rate starting from 69.47% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. 75% of the projection of the BADLAR rate starting from 69.47% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. Administrative Expenses Ps.1.68 for voluntary retirement and Ps.11.34for annuities Ps.2.40 for voluntary retirement and Ps.14.80 for annuities |
Other Non-financial Assets
Other Non-financial Assets | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Other Non Financial Assets [abstract] | |
Other Non-financial Assets | NOTE 21. OTHER NON-FINANCIAL ASSETS “Other Non-financial Assets” break down as follows: 12.31.23 12.31.22 Payments on behalf of third parties 5,998,743 5,886,564 Advances of fees to Directors and Syndics 18,507 32,025 Advances to Personnel 183,132 80,135 Tax Credits 16,000,772 18,851,330 Payments made in Advance 28,267,550 19,357,660 Advances for Purchase of Assets 4,169,213 13,565,810 Investment properties (*) 5,301,923 5,114,404 Other Sundry Assets Measured at Cost 12,014,604 10,130,371 Assets Taken in Defense of Credits 201,292 312,756 Contract Assets 2,460,362 1,158,866 Others 3,131,222 3,893,171 Total 77,747,320 78,383,092 ____________________ (*) Changes in “Investment Properties” are detailed in Schedule F. |
Non-current Assets Held for Sal
Non-current Assets Held for Sale and Discontinued Operations | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Noncurrent Assets Held For Sale And Discontinued Operations [abstract] | |
Non-current Assets Held for Sale and Discontinued Operations | NOTE 22. NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS The Group has classified the following assets as “Assets Held for Sale and Discontinued Operations”: 12.31.23 12.31.22 Property, Plant and Equipment Real Estate 74,920 3,896 Total 74,920 3,896 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of deposits [abstract] | |
Deposits | NOTE 23. DEPOSITS Deposits break down as follows as of the indicated dates: 12.31.23 12.31.22 In Pesos 3,911,679,725 5,499,926,643 Checking Accounts 662,301,038 917,872,719 Savings Accounts 1,781,911,012 1,744,931,650 Time Deposits 975,440,751 2,454,589,851 Time Deposits – UVA 42,922,738 116,366,263 Others 305,057,594 126,619,593 Interest and Adjustments 144,046,592 139,546,567 In Foreign Currency 1,796,100,218 1,170,355,745 Savings Accounts 1,592,790,179 966,320,800 Time Deposits 185,017,661 182,175,988 Others 17,885,645 21,544,336 Interest and Adjustments 406,733 314,621 Total 5,707,779,943 6,670,282,388 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. |
Liabilities Measured at Fair Va
Liabilities Measured at Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2023 | |
Liabilities measured at fair value through profit or loss [Abstract] | |
Liabilities Measured at Fair Value Through Profit or Loss | NOTE 24. LIABILITIES MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS |
Other Financial Liabilities
Other Financial Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Other Financial Liabilities [abstract] | |
Other Financial Liabilities | NOTE 25. OTHER FINANCIAL LIABILITIES The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 Creditors for Purchase to be Settled 16,673,813 76,002,542 Collections and Other Transactions on Behalf of Third Parties 130,990,555 78,993,734 Obligations for Purchase Financing 746,506,069 753,371,317 Creditors for Purchase of Foreign Currency to be Settled 36,472,776 62,429,578 Accrued Fees Payable 10,114,719 16,281,068 Sundry Items Subject to Minimum Cash 17,102,592 7,122,073 Sundry Items not Subject to Minimum Cash 277,484,655 34,222,473 Financial Liabilities for guarantees and sureties granted (financial guarantee contracts) 6,810,736 2,188,414 Cash or equivalents for purchases or cash sales to be settled 387,238 73,757 Lease Liabilities 29,460,816 23,902,091 Other Financial Liabilities 1,325,327 31,665,181 Total 1,273,329,296 1,086,252,228 |
Loans from the Argentine Centra
Loans from the Argentine Central Bank and Other Financial Institutions | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [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: 12.31.23 12.31.22 Argentine Central Bank Financing 192,903 307,770 Correspondents 1,014,393 6,020,955 Financing from Local Financial Institutions 102,022,880 93,374,358 Financing from Foreign Financial Institutions 31,064,893 11,366,560 Financing from International Financial Institutions 3,833,630 5,615,219 Total 138,128,699 116,684,862 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 Local Institutions BICE Sundry Dates Ps. 1668 days 84.90 Sundry Dates 4,852,344 BICE Sundry Dates US$ 1748 days 9.40 Sundry Dates 1,331,153 Agreements with Banks (1) Sundry Dates Ps. 234 days 133.10 Sundry Dates 94,611,433 Call Taken 12.29.23 Ps. 4 days 80.00 01.02.24 1,227,950 Argentine Central Bank 12.29.23 Ps. 4 days — 01.02.24 192,903 International Institutions Correspondents 12.29.23 US$ 4 days — 01.02.24 1,014,393 IFC Sundry Dates US$ 2266 days 8.50 Sundry Dates 2,694,944 Pre-financing Sundry Dates US$ 182 days 5.60 Sundry Dates 32,203,579 Total 138,128,699 (*) 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 Local Institutions BICE Sundry Dates Ps. 1423 days 24.3 Sundry Dates 3,381,663 BICE Sundry Dates US$ 1729 days 8.8 Sundry Dates 3,623,275 Agreements with Banks (1) Sundry Dates Ps. 426 days 70.7 Sundry Dates 84,142,162 Call Taken 12.30.22 Ps. 3 days 21.8 01.21.23 2,227,259 Argentine Central Bank 12.30.22 Ps. 3 days — 01.21.23 307,770 International Institutions Correspondents 12.30.22 US$ 3 days — 01.02.23 6,020,955 IFC Sundry Dates US$ 2082 days 8.0 Sundry dates 11,031,821 Pre-financing Sundry Dates US$ 182 days 8.1 Sundry dates 5,949,957 Total 116,684,862 (*) Weighted average. (**) It includes principal and interest. |
Debt Securities
Debt Securities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Unsubordinated Debt Securities Outstanding [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 Type of Debt Securities Program Approval Date CNV Approval Grupo Financiero Galicia S.A. US$ 100,000 Simple debt securities not convertible into shares 5 years 03.09.09 confirmed on 08.02.12 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. US$ 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, 04.14.10, 04.29.15, 11.09.16 and 04.28.20 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. US$ 500,000 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.U. US$ 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 (*) Or its equivalent in any other currency. The Company has the following Unsubordinated Debt securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2023, net of repurchases of Own Debt: Company Placement Currency Class Face Value Term Maturity Rate Book Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie II 3,284,942 730 days 01.31.24 Badlar + 6.00% 2,753,081 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie II 4,192,612 730 days 04.07.24 Badlar + 5.25% 3,725,576 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie II 4,779,859 730 days 07.05.24 Badlar + 4.99% 6,175,447 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie II 10,141,234 548 days 02.09.24 Badlar + 3.00% 6,195,912 Tarjeta Naranja S.A.U. 02.03.23 Ps. LVII 12,512,200 365 days 02.03.24 Badlar + 4.50% 11,129,223 Tarjeta Naranja S.A.U. 04.27.23 Ps. LVIII 12,214,678 366 days 04.27.24 Badlar + 5.00% 4,641,269 Tarjeta Naranja S.A.U. 07.27.23 Ps. LIX 12,072,087 366 days 07.27.24 Badlar + 5.00% 12,476,458 Tarjeta Naranja S.A.U. 11.03.23 Ps. LX 27,381,323 366 days 11.03.24 Badlar + 5.00% 23,962,959 Tarjeta Naranja S.A.U. 03.22.22 US$ LII 7,500 770 days 04.30.24 5.00 % 6,118,885 Total 77,178,810 (*) It includes principal and interest. On June 21, 2018, Banco de Galicia y Buenos Aires S.A.U. issued the “Green Bond” which was entirely acquired by the International Finance Corporation. The Green Bond is a 7-year facility, with interest payable every six months. The Green Bond has a 36-month grace period in respect of the repayment of principal, followed by payments in 9 installments due every six months. As of December 31, 2023, the carrying amount of the Green Bond totals Ps.15,536,702, and it amounted to Ps.19,937,550 as of December 31, 2022. The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2022, net of repurchases of Own Debt: Company Placement Currency Class Face Value Term Maturity Rate Book Banco Galicia 09.12.22 Ps. XII 5,829,400 6 months 03.12.23 Badlar + —% 18,472,610 Tarjeta Naranja S.A.U. 08.13.21 Ps. XLIX Serie II 1,246,500 730 days 08.13.23 Badlar + 7.24% 5,544,283 Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie I 2,715,058 365 days 01.31.23 Badlar + 3.99% 9,502,336 Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie II 3,284,942 730 days 01.31.24 Badlar + 6.00% 11,336,935 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie I 4,532,644 365 days 04.07.23 Badlar + 3.75% 16,440,966 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie II 4,192,612 730 days 04.07.24 Badlar + 5.25% 15,002,895 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie I 3,220,141 365 days 07.05.23 Badlar + 2.85% 11,743,294 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie II 4,779,859 730 days 07.05.24 Badlar + 4.99% 17,030,380 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie I 6,968,538 270 days 05.09.23 Badlar + —% 21,061,670 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie II 10,141,234 548 days 02.09.24 Badlar + 3.00% 26,039,365 Tarjeta Naranja S.A.U. 02.03.23 Ps. LVII 8,437,300 365 days 02.03.24 Badlar + 4.50% 28,576,596 Tarjeta Naranja S.A.U. 04.06.21 US$ XLVII 8,500 742 days 04.28.23 7 % 4,748,244 Tarjeta Naranja S.A.U. 03.22.22 US$ LII 7,500 770 days 04.30.24 5 % 4,150,581 Total 189,650,155 (*) It includes principal and interest. The repurchases of Own Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of Book Value(*) as of Tarjeta Naranja S.A.U. LI Serie II 97,911 117,385 Tarjeta Naranja S.A.U. LIII Serie II 50,000 64,545 Tarjeta Naranja S.A.U. LIV Serie II 83,000 106,993 Tarjeta Naranja S.A.U. LV Serie II 50,000 57,920 Tarjeta Naranja S.A.U. LVII 50,000 58,750 Tarjeta Naranja S.A.U. LVIII 49,625 59,867 Tarjeta Naranja S.A.U. LIX 2,026,702 2,449,554 Tarjeta Naranja S.A.U. LX 7,665,541 9,102,830 Total 12,017,844 (*) It includes principal and interest. Company ON Class Nominal Value as of Book Value(*) as of Banco de Galicia y Buenos Aires S.A.U. XII 40,000 150,114 Tarjeta Naranja S.A.U. XLVII 2 1,193 Tarjeta Naranja S.A.U. XLIX Serie II 57,000 200,637 Tarjeta Naranja S.A.U. LI Serie I 8,703 30,403 Tarjeta Naranja S.A.U. LI Serie II 50,000 180,159 Tarjeta Naranja S.A.U. LII 13 6,901 Tarjeta Naranja S.A.U. LIII Serie I 50,000 181,152 Tarjeta Naranja S.A.U. LIII Serie II 100,000 363,310 Tarjeta Naranja S.A.U. LIV Serie I 170 613 Tarjeta Naranja S.A.U. LIV Serie II 135,000 472,950 Tarjeta Naranja S.A.U. LV Serie I 831,590 2,777,840 Tarjeta Naranja S.A.U. LV Serie II 2,585,727 8,742,567 Tarjeta Naranja S.A.U. LVII 189,000 658,014 Total 13,765,853 (*) It includes principal and interest. |
Subordinated Debt Securities
Subordinated Debt Securities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [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 Rate Book Value Book Value Banco de Galicia y Buenos Aires S.A.U. 07.19.16 US$ II US$250,000 120 months (1) 07.19.26 (2) 205,612,893 141,394,653 (*) 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. The repurchases of Own Subordinated Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of Book Value(*) as of Banco de Galicia y Buenos Aires S.A.U. II 2,000,000 2,174,296 Total 2,174,296 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other provisions [abstract] | |
Provisions | NOTE 29. PROVISIONS The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 For Termination Benefits 4,013,811 8,648,052 Others 16,374,132 23,286,874 Total 20,387,943 31,934,926 Changes in the “Provisions” account for fiscal year 2023 are detailed in Schedule J. |
Other Non-financial Liabilities
Other Non-financial Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other non-financial liabilities [abstract] | |
Other Non-financial Liabilities | NOTE 30. OTHER NON-FINANCIAL LIABILITIES The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 Creditors for sale of assets 2,635,658 2,416,250 Tax withholdings and collections payable 70,692,520 92,421,959 Payroll and Social Contributions Payable 78,510,770 56,275,851 Withholdings on Payroll Payable 2,112,721 3,345,468 Fess to Directors and Syndics 1,525,998 1,945,083 Value-Added Tax 15,203,555 12,664,560 Sundry Creditors 49,036,226 30,405,649 Taxes Payable 52,241,225 55,496,336 Obligations Arising from Contracts with Customers (*) 3,622,688 8,665,403 Retirement payment orders pending settlement 481,796 1,106,674 Other Non-financial Liabilities 2,106,220 14,597,851 Total 278,169,377 279,341,084 (*) Including Liabilities for Quiero! Customer Loyalty Program. Deferred income resulting from contracts with customers includes the liabilities for the “ Quiero! ” Customers Loyalty Program. The Group estimates the fair value of the points assigned to customers under the above-mentioned program. This value is estimated by means of the use of a mathematical model that considers certain assumptions of redemption rates, the fair value for the exchanged points based on the combination of available products and the customers’ preferences, as well as breakage. As of December 31, 2023, Ps.2,251,056 was recorded for non-exchanged points, whereas as of December 31, 2022, such amount totaled Ps.7,441,313. The following table shows the estimated use of the liabilities recorded as of this fiscal year-end. Terms Item Up to 12 Up to 24 Over 24 Total Liabilities – “Quiero!” Customers Loyalty Program 1,182,807 578,016 490,233 2,251,056 |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Capital Stock [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. 120,390 and are deducted from the share premium. The Company has no treasury shares in portfolio. |
Income Statement Breakdown
Income Statement Breakdown | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of income statement breakdown [Abstract] | |
Income Statement Breakdown | NOTE 32. INCOME STATEMENT BREAKDOWN |
Exchange Rate Differences on Fo
Exchange Rate Differences on Foreign Currency | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions in foreign currency [abstract] | |
Exchange Rate Differences on Currency | NOTE 33. EXCHANGE RATE DIFFERENCES ON FOREIGN CURRENCY The account breaks down as follows as of the indicated dates: Arising from: 12.31.23 12.31.22 12.31.21 For Purchase sale of foreign currency 25,908,441 26,650,743 12,533,554 For Valuation of Assets and Liabilities in Foreign Currency 586,664,664 36,015,524 14,731,450 Total 612,573,105 62,666,267 27,265,004 |
Other Operating Income
Other Operating Income | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Other Operating Income [abstract] | |
Other Operating Income | NOTE 34. OTHER OPERATING INCOME The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Other Adjustments and Interest on sundry Credits 212,636,372 115,639,341 42,949,355 Rental of Safety Deposit Boxes 12,263,331 12,473,218 12,300,604 Other Financial Income 11,268,721 3,422,685 2,842,193 Other Income from Services 72,290,496 54,919,541 37,786,739 Reversed allowances 25,459,136 202,256 6,130,733 Others 47,842,948 43,126,547 53,425,988 Total 381,761,004 229,783,588 155,435,612 |
Insurance Business Result
Insurance Business Result | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of types of insurance contracts [abstract] | |
Insurance Business Result | NOTE 35. INSURANCE BUSINESS RESULT The following items are included in the account as of the indicated dates: 12.31.23 12.31.22 Insurance revenue 95,782,121 69,488,357 Insurance service expense (58,799,285) (27,246,871) Net expenses from reinsurance contracts held (639,798) (2,166,449) Total 36,343,038 40,075,037 The following items are included in the account as of December 31, 2021 under IFRS 4: 12.31.21 Premiums and Surcharges Accrued 74,175,529 Claims Accrued (13,593,423) Redemptions (193,197) Fixed and Periodic Annuities (114,455) Production and Operating Expenses (14,866,769) Other Income and Expenses (822,849) Total 44,584,836 |
Impairment Charge
Impairment Charge | 12 Months Ended |
Dec. 31, 2023 | |
Loan Loss Charges [Abstract] | |
Impairment Charge | NOTE 36. IMPAIRMENT CHARGE The following items are included in the account as of the indicated dates: 12.31.23 12.31.22 12.31.21 Expected credit loss allowance (184,869,469) (154,535,309) (123,638,163) Direct charge offs (5,813,345) (8,759,136) (9,512,939) Total (190,682,814) (163,294,445) (133,151,102) |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Personnel Expenses [abstract] | |
Personnel Expenses | NOTE 37. PERSONNEL EXPENSES The following are the items included in the account as of the indicated dates: 12.31.23 12.31.22 12.31.21 Payroll (185,585,493) (170,540,830) (169,735,916) Social Contributions on Payroll (43,572,813) (40,656,504) (39,620,402) Personnel Compensations and Rewards (100,733,819) (75,328,612) (58,833,198) Services for Personnel (8,221,659) (8,390,742) (7,180,880) Other Short-term Personnel Expenses (12,786,029) (6,112,941) (5,464,673) Other Long-term Personnel Expenses (559,868) (697,774) (896,277) Total (351,459,681) (301,727,403) (281,731,346) |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Summary Of Expenses By Nature Administrative Expenses [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: 12.31.23 12.31.22 12.31.21 Fees and Remunerations for Services (20,713,249) (23,600,296) (17,935,968) Directors’ and Syndics’ Fees (3,617,647) (3,880,074) (2,372,295) Advertising and Marketing (14,301,575) (13,294,092) (14,013,305) Taxes (88,198,745) (73,456,473) (70,428,847) Maintenance and Repairs of Assets and Systems (42,254,075) (43,441,139) (48,729,757) Electricity and Communications (13,677,167) (14,464,580) (17,447,618) Representation and Travel Expenses (808,896) (725,570) (409,716) Stationery and Office Supplies (1,390,650) (1,029,031) (1,187,803) Rentals (632,365) (1,102,016) (2,941,850) Administrative Services under Contract (52,926,504) (50,994,117) (46,375,916) Security (7,010,320) (6,630,840) (7,029,782) Insurance (2,107,685) (2,505,480) (2,907,905) Armored Transportation Services (18,086,318) (17,398,822) (17,221,663) Others (29,499,201) (26,870,512) (23,936,945) Total (295,224,397) (279,393,042) (272,939,370) |
Depreciation Expenses
Depreciation Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Depreciation amortization and impairment [abstract] | |
Depreciation Expenses | NOTE 39. DEPRECIATION EXPENSES The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Depreciation of Property, Plant and Equipment (43,213,943) (46,258,382) (51,091,418) Amortization of Organization and Development Expenses (40,517,472) (39,545,859) (36,795,856) Depreciation of other intangible assets (1,100) (1,099) (273) Others (*) (546,073) (1,006,220) (54,303) Total (84,278,588) (86,811,560) (87,941,850) (*) "Other" include the depreciation of various assets and losses from sale or depreciation of property, plant and equipment. |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other operating expenses [abstract] | |
Other Operating Expenses | NOTE 40. OTHER OPERATING EXPENSES The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Turnover Tax (333,362,380) (236,258,017) (194,941,560) Contributions to the Deposit Insurance Scheme (8,731,059) (9,082,223) (9,774,487) Charges for Other Provisions (13,737,045) (13,522,709) (8,786,977) Claims (15,547,234) (18,830,313) (16,711,271) Other Financial Expenses (35,498,466) (37,933) — Interest on leases (3,404,429) (3,559,813) (3,216,986) Credit-card-relates expenses (50,409,675) (38,059,679) (39,265,385) Other Expenses from Services (95,256,426) (67,564,429) (52,215,605) Others (9,619,665) (9,384,224) (10,871,221) Total (565,566,379) (396,299,340) (335,783,492) |
Income Tax_Deferred Tax
Income Tax/Deferred Tax | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [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, 2023, as compared to the previous fiscal year: 12.31.23 12.31.22 12.31.21 Income Before Income Tax for the Year 544,821,641 201,303,683 288,879,118 Current Tax Rate 35% 35% 35% Income for the Year at Tax Rate (190,687,574) (70,456,289) (101,107,691) Permanent Differences at Tax Rate - Income for Equity Instruments 1,025,496 (480,926) (274,203) - Untaxed Income 7,427,467 86,624 1,229,453 - Donations and Other Non-deductible Expenses (637,849) (81,075) (29,973) - Other (7,248,363) (4,007,709) 1,421,215 - Inflation effect (376,659,710) (252,956,569) (168,086,175) -Tax adjustment — — 2,691,141 - Tax inflation adjustment 360,673,706 274,858,560 164,400,746 Total Income Tax Charge for the Year (206,106,827) (53,037,384) (99,755,487) 12.31.23 12.31.22 12.31.21 Current Income Tax (294,728,679) (51,251,420) (78,655,003) Deferred Tax Charge (*) 158,829,499 9,804,586 (25,869,956) Update of the charge tax for inflation effects (71,622,680) (10,181,079) (5,050,214) Tax Return adjustment from previous fiscal year 1,415,033 (1,409,471) 9,819,686 Total Income Tax Charge for the Year (206,106,827) (53,037,384) (99,755,487) (*) See Note 19. 12.31.23 12.31.22 12.31.21 Current Income Tax (294,728,679) (51,251,420) (78,655,003) Tax Advances 22,328,134 23,847,756 23,154,980 Current Income Tax Liabilities (272,400,545) (27,403,664) (55,500,023) 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. Tax rates 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 tax rate in the framework of this treatment are: For the fiscal year beginning on 01.01.23 and ended 12.31.23: Accumulated taxable net earnings Over Ps. At Ps. Will pay Ps Plus % On the surplus of Ps. — 14,301 — 25 % — 14,301 143,012 3,575 30 % 14,301 143,012 Onwards 42,189 35 % 143,012 For the fiscal year beginning on 01.01.22 and ended 12.31.22: Accumulated taxable net earnings Over Ps. At Ps. Will pay Ps Plus % On the surplus of Ps. — 7,605 — 25 % — 7,605 76,049 1,901 30 % 7,605 76,049 Onwards 22,435 35 % 76,049 The amounts provided for above will be adjusted annually, based on the annual variation of the CPI provided by INDEC, corresponding to the month of October of the year prior to the adjustment, with respect to the same month of the previous year. Dividend tax: it is established that dividends or profits distributed to individuals, undivided estates or foreign beneficiaries will be taxed at the rate of 7%. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of dividend [abstract] | |
Dividends | NOTE 42. DIVIDENDS The General and Extraordinary Shareholders' Meeting held on April 25, 2023 approved the distribution of cash dividends in the amount of Ps.10,000,000 (equivalent to Ps.25,581,333 at December 31, 2023), which represented Ps.6.78 (amount stated in Argentine pesos) per share. In addition, at said Meeting, the use of the Reserve for the eventual distribution of profits for up to Ps.75,000,000 (equivalent to Ps.191,860,028 at December 31, 2023) was approved, delegating to the Board of Directors the power to pay it on one or more occasions until the annual meeting that discusses the income of the current fiscal year. Accordingly, on May 9, 2023 a payment of Ps.35,000,000 (equivalent to Ps.76,637,662 at December 31, 2023) was made, on June 12, 2023 a payment of Ps.12,500,000 (equivalent to Ps.25,833,298 at December 31, 2023) was made, on July 10, 2023 a payment of Ps.12,500,000 (equivalent to Ps.24,292,006 at December 31, 2023) was made, on August 8, 2023 a payment of Ps.12,500,000 (equivalent to Ps.21,604,102 at December 31, 2023) was made, and on September 11, 2023 the remaining payment of Ps.12,500,000 was made (equivalent to Ps.19,161,108 at December 31, 2023). The Ordinary and Extraordinary Shareholders' Meeting held on April 26, 2022, approved the distribution of cash dividends in the amount of Ps.11,000,000 (equivalent to Ps.57,487,964 at December 31, 2023), which represented Ps.7.46 (figure expressed in Argentine pesos) per share. On May 9, 2022, the aforementioned dividends were paid to the Company's shareholders. Additionally, at the same Shareholders´ Meeting, the distribution of cash dividends in the amount of Ps.8,000,000 (equivalent to Ps.41,809,424 at December 31, 2023) was approved, delegating to the Board of Directors the power to partially pay it twice in the months of September 2022 and January 2023. On September 12, 2022, the payment of Ps.4,000,000 was made (which is equivalent to Ps.14,610,418 at December 31, 2023). On January 9, 2023, the remaining payment of Ps.4,000,000 was made (wich is equivalent to Ps.11,748,143 at December 31, 2023). |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2023 | |
Earnings per share [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. 12.31.23 12.31.22 12.31.21 Net Income for the Year Attributable to Parent Company´s Owners 337,172,143 151,257,426 188,618,946 Weighted Average Ordinary Shares 1,474,692 1,474,692 1,474,692 Earnings per Share 228.64 102.57 127.90 |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [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., Naranja Digital Companía Financiera S.A.U. and Tarjeta Naranja S.A.U. At of 12.31.21, it incorporated the results of Ondara S.A., liquidated in the previous financial year. 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.U., Galicia Seguros S.A.U., Galicia Broker Asesores de Seguros S.A., Well Assistance S.A.U. and, as from this fiscal year, Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.). d. Other Businesses: This segment shows the results of operations of Galicia Asset Management S.A.U., Galicia Warrants S.A., Galicia Securities S.A.U., Agri Tech Investments LLC, Agri Tech Investments Argentina S.A.U., IGAM LLC, Inviu S.A.U., INVIU Uruguay Agente de Valores S.A., Galicia Investments LLC, Galicia Ventures LP, Galicia Holdings LLC 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. See Note 51.5. 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. On 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 2021, 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 Net Income from interest 1,461,943,165 260,608,702 8,101,150 (240,419) (2,726,778) 1,727,685,820 Net fee Income 291,308,376 186,248,020 — 3,946,005 (10,071,566) 471,430,835 Net Income from Financial Instruments measured at fair value through Profit or Loss 116,826,823 96,839,582 (11,615,003) 66,944,095 4,902,244 273,897,741 Income from Derecognition of Assets Measured at Amortized Cost 42,347,453 (247,465) — 7,053 — 42,107,041 Exchange rate Differences on Foreign Currency 532,622,795 4,934,354 54,441,086 20,574,870 — 612,573,105 Other Operating Income 278,827,435 39,256,149 11,956,374 59,218,160 (7,497,114) 381,761,004 Insurance Business Result — — 21,244,700 — 15,098,338 36,343,038 Impairment Charge (125,750,326) (64,933,672) 1,184 — — (190,682,814) Personnel Expenses (251,554,961) (77,675,268) (12,732,861) (9,496,591) — (351,459,681) Administrative Expenses (204,566,843) (76,730,350) (6,852,605) (7,899,968) 825,369 (295,224,397) Depreciation Expenses (70,120,173) (12,177,651) (1,210,764) (770,000) — (84,278,588) Other Operating Expenses (410,391,059) (105,020,142) (35,547,025) (14,609,835) 1,682 (565,566,379) Loss on net monetary position (1,223,843,712) (225,076,997) (19,458,601) (50,127,295) — (1,518,506,605) Operating Income 437,648,973 26,025,262 8,327,635 67,546,075 532,175 540,080,120 Share of profit from Associates and Joint Ventures (1,946,669) — 4,876,658 — — 2,929,989 Income before Taxes from Continuing Operations 435,702,304 26,025,262 13,204,293 67,546,075 532,175 543,010,109 Income Tax from Continuing Operations (155,272,782) (12,298,583) (1,828,830) (36,440,286) — (205,840,481) Net Income from Continuing Operations 280,429,522 13,726,679 11,375,463 31,105,789 532,175 337,169,628 Net Income for the Year 280,429,522 13,726,679 11,375,463 31,105,789 532,175 337,169,628 Other Comprehensive Income (Loss) — 473,099 198,482 871,090 — 1,542,671 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 280,429,522 14,199,778 11,576,460 31,976,879 532,175 338,714,814 Net Income for the Year Attributable to Non-controlling Interests — — (2,515) — — (2,515) Bank Naranja X Insurance Other Adjustments Total as of Net Income from interest 240,461,814 209,707,226 29,839,442 1,475,281 (6,536,244) 474,947,519 Net fee Income 255,931,705 175,334,452 — 72,803 (9,262,528) 422,076,432 Net Income from Financial Instruments measured at fair value through Profit or Loss 997,642,066 41,654,951 (20,148,716) 26,724,671 7,032,117 1,052,905,089 Income from Derecognition of Assets Measured at Amortized Cost 1,912,283 (51,825) — — — 1,860,458 Exchange rate Differences on Foreign Currency 60,255,103 (407,063) 14,079 2,804,148 — 62,666,267 Other Operating Income 154,698,888 35,795,456 5,197,185 42,121,101 (8,029,042) 229,783,588 Insurance Business Result — — 24,639,180 — 15,435,857 40,075,037 Impairment Charge (110,110,570) (53,187,621) 3,746 — — (163,294,445) Personnel Expenses (208,152,430) (76,069,669) (11,533,982) (5,971,322) — (301,727,403) Administrative Expenses (197,356,606) (69,712,621) (5,905,239) (8,068,006) 1,649,430 (279,393,042) Depreciation Expenses (69,133,836) (15,617,031) (1,742,818) (317,875) — (86,811,560) Other Operating Expenses (285,193,414) (105,504,991) (73,296) (5,578,374) 50,735 (396,299,340) Loss on net monetary position (692,019,044) (129,557,877) (6,065,467) (23,673,188) — (851,315,576) Operating Income 148,935,959 12,383,387 14,224,114 29,589,239 340,325 205,473,024 Share of profit from Associates and Joint Ventures (1,374,074) — — — — (1,374,074) Income before Taxes from Continuing Operations 147,561,885 12,383,387 14,224,114 29,589,239 340,325 204,098,950 Income Tax from Continuing Operations (19,580,911) (6,088,306) (6,699,798) (20,472,481) — (52,841,496) Net Income from Continuing Operations 127,980,974 6,295,081 7,524,316 9,116,758 340,325 151,257,454 Net Income for the Year 127,980,974 6,295,081 7,524,316 9,116,758 340,325 151,257,454 Other Comprehensive Income (Loss) (3,516,138) (44) (56,869) 581,896 — (2,991,155) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 124,464,836 6,295,037 7,467,419 9,698,654 340,325 148,266,271 Net Income for the Year Attributable to Non-controlling Interests — — 28 — — 28 Bank Naranja X Insurance Other Adjustments Total as of Net Income from interest 417,744,914 227,076,403 14,145,228 480,495 3,431,444 662,878,484 Net fee Income 255,306,200 168,107,624 — (163,066) (10,751,388) 412,499,370 Net Income from Financial Instruments measured at fair value through Profit or Loss 579,672,864 2,538,024 (9,166,643) 8,981,497 (2,055,661) 579,970,081 Income from Derecognition of Assets Measured at Amortized Cost 99,088 1,189 — — — 100,277 Exchange rate Differences on Foreign Currency 22,406,058 885,977 237,393 3,735,576 — 27,265,004 Other Operating Income 99,010,114 36,029,925 2,296,106 27,713,454 (9,613,987) 155,435,612 Insurance Business Result — — 25,782,326 — 18,802,510 44,584,836 Impairment Charge (87,908,002) (45,218,721) (24,379) — — (133,151,102) Personnel Expenses (189,101,103) (75,406,262) (9,795,221) (7,428,760) — (281,731,346) Administrative Expenses (196,398,875) (66,117,904) (4,934,656) (6,340,385) 852,450 (272,939,370) Depreciation Expenses (65,648,219) (19,850,619) (2,204,381) (238,631) — (87,941,850) Other Operating Expenses (247,338,558) (85,530,697) (83,365) (2,875,299) 44,427 (335,783,492) Loss on net monetary position (389,734,768) (78,900,186) (4,010,184) (9,614,229) — (482,259,367) Operating Income 198,109,713 63,614,753 12,242,224 14,250,652 709,795 288,927,137 Share of profit from Associates and Joint Ventures (783,437) — — — — (783,437) Income before Taxes from Continuing Operations 197,326,276 63,614,753 12,242,224 14,250,652 709,795 288,143,700 Income Tax from Continuing Operations (59,589,927) (25,865,643) (5,051,093) (9,018,091) — (99,524,754) Net Income from Continuing Operations 137,736,349 37,749,110 7,191,131 5,232,561 709,795 188,618,946 Net Income for the Year 137,736,349 37,749,110 7,191,131 5,232,561 709,795 188,618,946 Other Comprehensive Income (Loss) 456,243 (1,923) 74,588 (24,223) — 504,685 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 138,192,592 37,747,187 7,265,719 5,208,338 709,795 189,123,631 Net Income for the Year Attributable to Non-controlling Interests — — — — — — Bank Naranja X Insurance Other Adjustments Total as of ASSETS Cash and Due from Banks 1,923,492,910 19,499,608 4,505,913 81,312,001 (32,925,610) 1,995,884,822 Debt Securities at fair value through profit or loss 462,568,153 63,364,262 69,021,323 18,033,267 (14,192,140) 598,794,865 Derivative Financial Instruments 35,269,630 6,480,001 — 1,525 (6,460,870) 35,290,286 Repurchase Transactions 1,085,918,848 105,627,805 — — (21,381,414) 1,170,165,239 Other Financial Assets 122,736,808 6,528,263 15,484,688 43,226,200 (9,872,423) 178,103,536 Loans and Other Financing 2,231,642,390 910,598,989 — 4,343,533 (65,878,587) 3,080,706,325 Other Debt Securities 1,791,809,860 118,477,198 16,047,290 — — 1,926,334,348 Financial Assets Pledged as Collateral 386,287,915 31,883,475 — 13,385,812 — 431,557,202 Current Income Tax Assets — — 1,945,136 100,751 — 2,045,887 Investments in Equity Instruments 6,897,267 — 113,495 2,626,756 — 9,637,518 Equity Investments in Associates and Joint Ventures 2,650,357 — — — — 2,650,357 Property, Plant and Equipment 315,533,809 32,594,924 6,427,153 703,275 — 355,259,161 Intangible Assets 102,859,938 8,781,857 9,904,081 2,068,943 — 123,614,819 Deferred Income Tax Assets 130,619,812 29,379,013 28,101,866 1,652,818 — 189,753,509 Insurance Contract Assets — — 9,821,667 — — 9,821,667 Reinsurance Contract Assets — — 28,616,023 — — 28,616,023 Other Non-financial Assets 56,147,521 7,111,263 2,398,533 12,090,011 (8) 77,747,320 Non-current Assets Held for Sale 74,920 — — — — 74,920 TOTAL ASSETS 8,654,510,138 1,340,326,658 192,387,168 179,544,892 (150,711,052) 10,216,057,804 LIABILITIES Deposits 5,544,973,263 205,592,886 — 6,169 (42,792,375) 5,707,779,943 Liabilities at Fair Value Through Profit or Loss 49,485,078 — — — — 49,485,078 Derivative Financial Instruments 18,699,617 — — — (6,460,870) 12,238,747 Repurchase Transactions 23,346,266 21,381,414 — — (21,381,414) 23,346,266 Other Financial Liabilities 666,102,899 533,865,638 — 80,959,134 (7,598,375) 1,273,329,296 Financing Received from the Argentine Central Bank and Other Financial Institutions 43,517,158 151,641,933 — 547,744 (57,578,136) 138,128,699 Debt Securities 15,536,702 89,196,654 — — (12,017,844) 92,715,512 Current Income Tax Liabilities 236,104,364 9,946,179 8,939,382 17,410,620 — 272,400,545 Subordinated Debt Securities 207,787,189 — — — (2,174,296) 205,612,893 Provisions 17,303,410 2,169,812 813,844 100,877 — 20,387,943 Deferred Income Tax Liabilities — — 12,952,332 4,403,004 — 17,355,336 Insurance Contracts Liabilities — — 105,704,654 — (4,122) 105,700,532 Reinsurance Contracts Liabilities — — 2,163,638 — — 2,163,638 Other Non-financial Liabilities 188,628,579 50,722,836 27,905,247 11,616,335 (703,620) 278,169,377 TOTAL LIABILITIES 7,011,484,525 1,064,517,352 158,479,097 115,043,883 (150,711,052) 8,198,813,805 Bank Naranja X Insurance Other Adjustments Total as of ASSETS Cash and Due from Banks 1,352,238,811 20,640,510 40,103 36,489,991 (15,722,561) 1,393,686,854 Debt Securities at fair value through profit or loss 2,465,120,440 624,871 362,600 13,719,057 (12,636,623) 2,467,190,345 Derivative Financial Instruments 10,361,046 3,867,035 — — (3,865,120) 10,362,961 Repurchase Transactions 326,075,813 67,669,329 — — (33,994,862) 359,750,280 Other Financial Assets 136,546,759 4,126,282 3,591,735 30,336,527 (161,060) 174,440,243 Loans and Other Financing 2,949,581,640 1,022,897,139 — 9,553,192 (110,405,186) 3,871,626,785 Other Debt Securities 1,091,174,800 23,135,122 18,999,342 9,673,861 (1,129,230) 1,141,853,895 Financial Assets Pledged as Collateral 311,693,475 159,017,265 — 2,948,796 — 473,659,536 Current Income Tax Assets — — 1,147,220 130,324 — 1,277,544 Investments in Equity Instruments 6,972,517 — — 22 — 6,972,539 Equity Investments in Associates and Joint Ventures 2,076,371 — — — — 2,076,371 Property, Plant and Equipment 317,642,825 37,401,257 5,178,335 452,996 — 360,675,413 Intangible Assets 107,513,800 10,290,005 229,258 1,899,423 — 119,932,486 Deferred Income Tax Assets — 19,432,837 1,389,507 1,866,954 — 22,689,298 Insurance Contract Assets — — 3,495,903 — — 3,495,903 Reinsurance Contract Assets — — 98,766 — — 98,766 Other Non-financial Assets 46,733,979 19,558,131 595,963 11,495,019 — 78,383,092 Non-current Assets Held for Sale 3,896 — — — — 3,896 TOTAL ASSETS 9,123,736,172 1,388,659,783 35,128,732 118,566,162 (177,914,642) 10,488,176,207 LIABILITIES Deposits 6,609,022,940 83,996,986 — 160,254 (22,897,792) 6,670,282,388 Liabilities at Fair Value Through Profit or Loss 243,592 — — — — 243,592 Derivative Financial Instruments 9,140,721 — — — (3,865,121) 5,275,600 Repurchase transactions — 33,994,862 — — (33,994,862) — Other Financial Liabilities 472,735,547 583,560,862 — 30,189,281 (233,462) 1,086,252,228 Financing Received from the Argentine Central Bank and Other Financial Institutions 32,759,770 186,902,377 — — (102,977,285) 116,684,862 Debt Securities 38,560,273 184,793,285 — — (13,765,853) 209,587,705 Current Income Tax Liabilities 9,721,726 3,624,016 3,944,915 10,113,007 — 27,403,664 Subordinated Debt Securities 141,394,653 — — — — 141,394,653 Provisions 30,610,661 530,997 621,588 171,680 — 31,934,926 Deferred Income Tax Liabilities 16,332,680 — 388,195 3,104,558 — 19,825,433 Insurance Contracts Liabilities — — 4,081,691 — (13,490) 4,068,201 Other Non-financial Liabilities 209,158,102 42,567,634 6,103,048 21,679,077 (166,777) 279,341,084 TOTAL LIABILITIES 7,569,680,665 1,119,971,019 15,139,437 65,417,857 (177,914,642) 8,592,294,336 The information by geographic segments as of the indicated dates is presented below: Argentina Uruguay Adjustments Total as of Net Income from interest 1,730,412,598 — (2,726,778) 1,727,685,820 Net fee Income 482,055,942 (553,541) (10,071,566) 471,430,835 Net Income from Financial Instruments measured at fair value through Profit or Loss 268,610,079 385,418 4,902,244 273,897,741 Income from Derecognition of Assets Measured at Amortized Cost 42,107,041 — — 42,107,041 Exchange rate Differences on Foreign Currency 612,413,410 159,695 — 612,573,105 Other Operating Income 388,991,665 266,453 (7,497,114) 381,761,004 Insurance Business Result 21,244,700 — 15,098,338 36,343,038 Impairment Charge (190,682,814) — — (190,682,814) Personnel Expenses (351,086,954) (372,727) — (351,459,681) Administrative Expenses (295,505,737) (544,029) 825,369 (295,224,397) Depreciation Expenses (84,269,572) (9,016) — (84,278,588) Other Operating Expenses (565,565,032) (3,029) 1,682 (565,566,379) Loss on net monetary position (1,517,933,224) (573,381) — (1,518,506,605) Operating Income 540,792,102 (1,244,157) 532,175 540,080,120 Share of profit from Associates and Joint Ventures 2,929,989 — — 2,929,989 Income before Taxes from Continuing Operations 543,722,091 (1,244,157) 532,175 543,010,109 Income Tax from Continuing Operations (205,840,481) — — (205,840,481) Net Income from Continuing Operations 337,881,610 (1,244,157) 532,175 337,169,628 Net Income for the Year 337,881,610 (1,244,157) 532,175 337,169,628 Other Comprehensive Income (Loss) 671,177 871,494 — 1,542,671 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 338,555,302 (372,663) 532,175 338,714,814 Net Income for the Year Attributable to Non-controlling Interests (2,515) — — (2,515) Argentina Uruguay Adjustments Total as of Net Income from interest 481,483,763 — (6,536,244) 474,947,519 Net fee Income 431,461,941 (122,981) (9,262,528) 422,076,432 Net Income from Financial Instruments measured at fair value through Profit or Loss 1,045,734,271 138,701 7,032,117 1,052,905,089 Income from Derecognition of Assets Measured at Amortized Cost 1,860,458 — — 1,860,458 Exchange rate Differences on Foreign Currency 62,641,479 24,788 — 62,666,267 Other Operating Income 237,750,700 61,930 (8,029,042) 229,783,588 Insurance Business Result 24,639,180 — 15,435,857 40,075,037 Impairment Charge (163,294,445) — — (163,294,445) Personnel Expenses (301,507,773) (219,630) — (301,727,403) Administrative Expenses (280,563,505) (478,967) 1,649,430 (279,393,042) Depreciation Expenses (86,809,175) (2,385) — (86,811,560) Other Operating Expenses (396,348,879) (1,196) 50,735 (396,299,340) Loss on net monetary position (851,092,178) (223,398) — (851,315,576) Operating Income 205,955,837 (823,138) 340,325 205,473,024 Share of profit from Associates and Joint Ventures (1,374,074) — — (1,374,074) Income before Taxes from Continuing Operations 204,581,763 (823,138) 340,325 204,098,950 Income Tax from Continuing Operations (52,841,496) — — (52,841,496) Net Income from Continuing Operations 151,740,267 (823,138) 340,325 151,257,454 Net Income for the Year 151,740,267 (823,138) 340,325 151,257,454 Other Comprehensive Income (Loss) (3,573,051) 581,896 — (2,991,155) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 148,167,188 (241,242) 340,325 148,266,271 Net Income for the Year Attributable to Non-controlling Interests 28 — — 28 Argentina Uruguay Adjustments Total as of ASSETS Cash and Due from Banks 2,027,953,634 856,798 (32,925,610) 1,995,884,822 Debt Securities at fair value through profit or loss 612,987,005 — (14,192,140) 598,794,865 Derivative Financial Instruments 41,749,631 1,525 (6,460,870) 35,290,286 Repurchase Transactions 1,191,546,653 — (21,381,414) 1,170,165,239 Other Financial Assets 187,975,959 — (9,872,423) 178,103,536 Loans and Other Financing 3,146,574,476 10,436 (65,878,587) 3,080,706,325 Other Debt Securities 1,926,334,348 — — 1,926,334,348 Financial Assets Pledged as Collateral 430,895,166 662,036 — 431,557,202 Current Income Tax Assets 2,045,887 — — 2,045,887 Investments in Equity Instruments 9,637,518 — — 9,637,518 Equity Investments in Associates and Joint Ventures 2,650,357 — — 2,650,357 Property, Plant and Equipment 354,991,354 267,807 — 355,259,161 Intangible Assets 123,613,994 825 — 123,614,819 Deferred Income Tax Assets 189,753,509 — — 189,753,509 Insurance Contract Assets 9,821,667 — — 9,821,667 Reinsurance Contract Assets 28,616,023 — — 28,616,023 Other Non-financial Assets 77,737,191 10,137 (8) 77,747,320 Non-current Assets Held for Sale 74,920 — — 74,920 TOTAL ASSETS 10,364,959,292 1,809,564 (150,711,052) 10,216,057,804 LIABILITIES Deposits 5,750,572,318 — (42,792,375) 5,707,779,943 Liabilities at Fair Value Through Profit or Loss 49,485,078 — — 49,485,078 Derivative Financial Instruments 18,699,617 — (6,460,870) 12,238,747 Repurchase Transactions 44,727,680 — (21,381,414) 23,346,266 Other Financial Liabilities 1,280,666,786 260,885 (7,598,375) 1,273,329,296 Financing Received from the Argentine Central Bank and Other Financial Institutions 195,706,835 — (57,578,136) 138,128,699 Debt Securities 104,733,356 — (12,017,844) 92,715,512 Current Income Tax Liabilities 272,400,545 — — 272,400,545 Subordinated Debt Securities 207,787,189 — (2,174,296) 205,612,893 Provisions 20,387,943 — — 20,387,943 Deferred Income Tax Liabilities 17,355,336 — — 17,355,336 Insurance Contracts Liabilities 105,704,654 — (4,122) 105,700,532 Reinsurance Contracts Liabilities 2,163,638 — — 2,163,638 Other Non-financial Liabilities 278,025,755 847,242 (703,620) 278,169,377 TOTAL LIABILITIES 8,348,416,730 1,108,127 (150,711,052) 8,198,813,805 Argentina Uruguay Adjustments Total as of Cash and Due from Banks 1,397,795,946 11,613,469 (15,722,561) 1,393,686,854 Debt Securities at fair value through profit or loss 2,478,779,243 1,047,725 (12,636,623) 2,467,190,345 Derivative Financial Instruments 14,228,081 — (3,865,120) 10,362,961 Repurchase Transactions 393,745,142 — (33,994,862) 359,750,280 Other Financial Assets 174,601,303 — (161,060) 174,440,243 Loans and Other Financing 3,982,031,607 364 (110,405,186) 3,871,626,785 Other Debt Securities 1,142,983,125 — (1,129,230) 1,141,853,895 Financial Assets Pledged as Collateral 473,107,585 551,951 — 473,659,536 Current Income Tax Assets 1,277,544 — — 1,277,544 Investments in Equity Instruments 6,972,539 — — 6,972,539 Equity Investments in Associates and Joint Ventures 2,076,371 — — 2,076,371 Property, Plant and Equipment 360,669,210 6,203 — 360,675,413 Intangible Assets 119,930,562 1,924 — 119,932,486 Deferred Income Tax Assets 22,689,298 — — 22,689,298 Insurance Contract Assets 3,495,903 — — 3,495,903 Reinsurance Contract Assets 98,766 — — 98,766 Other Non-financial Assets 78,379,231 3,861 — 78,383,092 Non-current Assets Held for Sale 3,896 — — 3,896 TOTAL ASSETS 10,652,865,352 13,225,497 (177,914,642) 10,488,176,207 Deposits 6,693,180,180 — (22,897,792) 6,670,282,388 Liabilities at Fair Value Through Profit or Loss 243,592 — — 243,592 Derivative Financial Instruments 9,140,720 — (3,865,120) 5,275,600 Repurchase Transactions 33,994,862 — (33,994,862) — Other Financial Liabilities 1,074,560,291 11,925,399 (233,462) 1,086,252,228 Financing Received from the Argentine Central Bank and Other Financial Institutions 219,662,147 — (102,977,285) 116,684,862 Debt Securities 223,353,558 — (13,765,853) 209,587,705 Current Income Tax Liabilities 27,403,664 — — 27,403,664 Subordinated Debt Securities 141,394,653 — — 141,394,653 Provisions 31,934,926 — — 31,934,926 Deferred Income Tax Liabilities 19,825,433 — — 19,825,433 Insurance Contracts Liabilities 4,081,691 — (13,490) 4,068,201 Other Non-financial Liabilities 278,485,993 1,021,869 (166,778) 279,341,084 TOTAL LIABILITIES 8,757,261,710 12,947,268 (177,914,642) 8,592,294,336 |
Capital Management and Risk Pol
Capital Management and Risk Policies | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [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 —PESC) (reflected in the Capital Adequacy Report—IAC, as per its acronym in Spanish) enables to assess the relationship between own resources available and necessary resources to maintain an appropriate risk profile. This process also allows for the identification of both the economic capital needs and the sources to meet such needs. 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, 2023, and December 31, 2022, Banco Galicia complied with the minimum capital requirement established by the Argentine Central Bank regulations. The balances of these items for Banco Galicia are detailed below, in accordance with the regulations and the currency in force each year. 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, 2023, and December 31, 2022, is as follows: 12.31.23 12.31.22 Basic Shareholders’ Equity 1,600,079,694 505,589,433 (Deductible Items) (304,644,028) (63,094,866) Equity Tier 1 1,295,435,666 442,494,567 Complementing shareholders’ Equity 80,848,330 36,138,983 Equity Tier 2 80,848,330 36,138,983 Regulatory Capital (RPC) 1,376,283,996 478,633,550 The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.23 12.31.22 Credit Risk 288,667,341 109,407,718 Market Risk 52,837,873 6,642,210 Operational Risk 112,505,729 36,743,804 Minimum Capital Requirement 454,010,943 152,793,732 Integration 1,376,283,996 478,633,550 Excess 922,273,053 325,839,818 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 2023, a limit of 2.25% of TIER1 was set for all operations, with a closing amount of Ps.29,147,302. 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 “Currency Risk”, as a consequence of market fluctuations in the prices of the different currencies in which Assets and Liabilities are nominated. The Group’s exposure to the foreign exchange risk as of year-end by type of currency is shown below: Balances as of 12.31.23 Currency Monetary Monetary Derivatives Net Position US Dollar 2,926,068 (2,259,546) 61,597 728,119 Euro 30,047 (5,576) — 24,471 Canadian Dollar 825 (75) — 750 Real 350 — — 350 Swiss Franc 407 (299) — 108 Others 975 (42) — 933 Total 2,958,672 (2,265,538) 61,597 754,731 Balances as of 12.31.22 Currency Monetary Monetary Derivatives Net Position US Dollar 1,755,508 (1,449,086) (71,182) 235,240 Euro 17,931 (6,997) — 10,934 Canadian Dollar 187 (37) — 150 Real 218 — — 218 Swiss Franc 249 (165) — 84 Others 632 (349) — 283 Total 1,774,725 (1,456,634) (71,182) 246,909 Balances as of 12.31.23 Balances as of 12.31.22 Currency Change Income Shareholders’ Income Shareholders’ US Dollar 10 % 72,812 800,931 23,524 258,764 -10 % (72,812) 655,307 (23,524) 211,716 Euro 10 % 2,447 26,918 1,093 12,027 -10 % (2,447) 22,024 (1,093) 9,841 Canadian Dollar 10 % 75 825 15 165 -10 % (75) 675 (15) 135 Real 10 % 35 385 22 240 -10 % (35) 315 (22) 196 Swiss Franc 10 % 11 119 8 92 -10 % (11) 97 (8) 76 Others 10 % 93 1,026 28 311 -10 % (93) 840 (28) 255 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 400 basis points “interest rates” shock for Argentine pesos, and 200 basis points for Dollars and CER/UVA, and the variation of the Net Financial Income is estimated and compared with the limits assigned to said changes in the variables subject to control. For “long-term approach” (VP), statistical simulations of interest rates are performed, and a “critical” scenario is obtained, arising from the exposure to the interest rate risk presented by the balance sheet structure. The economic capital is obtained from the difference resulting from the “critical” scenario and the balance sheet market value, within a 99.5% confidence interval. 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 12.31.23 Total Financial Assets 5,102,033,400 551,446,328 465,828,456 327,672,507 2,432,583,884 8,879,564,575 Total Financial Liabilities 5,069,823,014 306,215,230 107,809,668 69,605,652 1,828,760,557 7,382,214,121 Net Amount 32,210,386 245,231,098 358,018,788 258,066,855 603,823,327 1,497,350,454 As of 12.31.22 Total Financial Assets 4,871,202,538 691,689,079 567,053,947 542,727,230 2,676,937,733 9,349,610,527 Total Financial Liabilities 5,599,467,500 442,151,732 241,147,518 103,312,678 1,817,076,540 8,203,155,968 Net Amount (728,264,962) 249,537,347 325,906,429 439,414,552 859,861,193 1,146,454,559 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, 2023. The percentage change budgeted by the Group for fiscal year 2023 was determined considering 100 bps and changes are considered reasonably possible on the basis on an observation of market conditions. Additional Increase/(Decrease) Increase/(Decrease) Decrease in Interest Rate -100 bp 3,299,498 0.2 % Increase in Interest Rate 100 bp (3,299,498) (0.2) % Liquidity Risk It contemplates the risk that the Group is unable to offset or liquidate a position at market value because: • the assets that are part thereof do not have a sufficient secondary market; or • market changes. In measuring and daily following up the “stock liquidity” an internal model is used, which contemplates the characteristics of behavior of the Group’s main funding sources. Based on the Group’s experience in connection with the changes in deposits and other liabilities, this model determines the “liquidity requirements” applied to liabilities subject to the policy and give rise to the “Management Liquidity Requirement”. In determining these liquid resources, the remaining term of liabilities is also contemplated, as well as the currency in which they are denominated. The resulting liquidity requirement is allocated to “eligible assets” set by the policy. The management liquidity requirement, along with the legal minimum cash requirements, are part of the total liquidity available. Daily liquidity management is supplemented by the estimated available funds or needs for the day, considering the opening balance of Argentine Central Bank’s account, deducting the daily minimum requirement, and including the main movements for the day. The latter results in the overestimated/underestimated balance that will be considered by operators in order to place funds or meet the financing needs. The monthly liquidity follow-up and control from the “flow” standpoint, called “liquidity mismatch/liquidity gap”, are performed by estimating the accumulated mismatches within the first year as a percentage of total liabilities. The gap methodology used (contractual gaps) is consistent with the best international practices in the field. In addition, the concentration of deposits is followed up and measured. In order to mitigate this risk factor, the policy designed restricts the involvement of two groups of customers to the total deposits: the first 10 customers and second 50 customers. The table below shows an analysis of maturities of assets and liabilities, determined based on the remaining period as of December 31, 2023, and December 31, 2022, 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 587,160,439 9,803,797 20,832,320 2,208,940 — 620,005,496 Derivative Financial Instruments 35,290,286 — — — — 35,290,286 Repurchase Transactions 1,215,786,083 — — — — 1,215,786,083 Other Financial Assets 136,192,280 1,798,376 2,165,150 56,017,704 — 196,173,510 Loans and Other Financing 4,776,066,952 1,358,395,938 437,504,077 384,243,976 142,051,485 7,098,262,428 Other Debt Securities 1,930,419,683 1,605,063 1,802,910 6,418,247 — 1,940,245,903 Financial Assets Pledged as Collateral 431,557,202 — — — — 431,557,202 Investments in Equity Instruments 9,637,518 — — — — 9,637,518 Liabilities Deposits 5,647,823,827 176,006,996 21,841,927 72,319 — 5,845,745,069 Liabilities at fair value through profit or loss 49,485,078 — — — — 49,485,078 Derivative Financial Instruments 12,238,747 — — — — 12,238,747 Repurchase Transactions 23,346,266 — — — — 23,346,266 Other Financial Liabilities 1,088,954,636 157,107,639 2,844,706 8,544,409 3,517,101 1,260,968,491 Lease liabilities 808,649 2,100,011 2,802,852 6,721,096 7,274,994 19,707,602 Financing Received from the Argentine Central Bank and Other Financial Institutions 62,668,525 86,372,601 23,917,179 4,425,851 — 177,384,156 Debt Securities 15,936,208 70,318,991 19,191,154 7,860,455 — 113,306,808 Subordinated Debt Securities 15,123,585 — 7,878,160 214,123,787 — 237,125,532 Less than 1 1 to 6 6 to 12 12 Months More than Total as of Assets Debt Securities measured at Fair Value through Profit or Loss 3,157,872,955 3,470,722 4,089,483 17,179,790 — 3,182,612,950 Derivative Financial Instruments 10,362,961 — — — — 10,362,961 Repurchase Transactions 370,641,706 — — — — 370,641,706 Other Financial Assets 142,734,438 1,265,031 1,533,119 21,025,466 21510293 188,068,347 Loans and Other Financing 1,783,781,022 1,661,900,533 712,190,281 613,435,344 407,689,998 5,178,997,178 Other Debt Securities 1,144,304,734 2,001,258 2,886,945 8,172,336 — 1,157,365,273 Financial Assets Pledged as Collateral 473,659,537 — — — — 473,659,537 Investments in Equity Instruments 6,972,539 — — — — 6,972,539 Liabilities Deposits 6,519,552,836 303,856,641 18,922,368 360,563 56 6,842,692,464 Liabilities measured at Fair Value trough Profit or Loss 243,592 — — — — 243,592 Derivative Financial Instruments 5,275,600 — — — — 5,275,600 Other Financial Liabilities 745,989,831 314,662,504 1,153,164 8,115,177 2858159 1,072,778,835 Lease Liabilities 714,298 2,231,557 2,774,275 10,070,335 5,372,999 21,163,464 Financing Received from the Argentine Central Bank and Other Financial Institutions 26,996,838 63,717,741 57,111,181 5,936,990 — 153,762,750 Debt Securities 26,024,904 120,416,353 75,720,724 88,524,165 — 310,686,146 Subordinated Debt Securities 5,360,409 — 5,360,409 168,613,892 — 179,334,710 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, 2023, is as follows: Government Securities Rating Government Provincial Autonomous Treasury Argentine Foreign government bonds Private Total as of AAA — 20,188 — — — 15,916,126 12,668,532 28,604,846 AA+ — — 2,291,015 — — — 500,471 2,791,486 AA — 63,724 — — — — 6,776,854 6,840,578 AA- 522,735 — — — — — 170,863 693,598 A+ — — — — — — 2,595,806 2,595,806 A1 — — — — — — 121,353 121,353 A — — — — — — 1,545,463 1,545,463 A2 — — — — — — 267,998 267,998 A- — 773,915 — — — — 627,162 1,401,077 BBB- — 1 — — — — — 1 B1 — 169,500 — — — — — 169,500 BB- — — — — — — 649,419 649,419 CCC 546,825,257 — — 6,246,150 — — 42,333 553,113,740 Total 547,347,992 1,027,328 2,291,015 6,246,150 — 15,916,126 25,966,254 598,794,865 The credit quality of debt securities as of December 31, 2022, is as follows: Government Securities Rating Government Provincial Autonomous Treasury Argentine Foreign government bonds Private Total as of AAA — — — — — 7,982,203 379,799 8,362,002 AA+ — — 123,193 — — — — 123,193 AA — 242,546 — — — — 1,201,370 1,443,916 AA- — — — — — — 379,668 379,668 A+ — — — — — — 24,978 24,978 A1 — — — — — — 86,285 86,285 A — — — — — — 255,893 255,893 A2 — — — — — — 1,130,578 1,130,578 A- — — — — — — 125,943 125,943 BBB — 2,181,653 — — — — 130,374 2,312,027 BBB.ar — — — — — — 65 65 B1 — 795,647 — — — — — 795,647 B — 4,439,916 — — — — — 4,439,916 BB- — — — — — — 136,225 136,225 CCC 31,802,325 — — 173,083,212 — — — 204,885,537 C — — — — 2,242,639,562 — 48,910 2,242,688,472 Total 31,802,325 7,659,762 123,193 173,083,212 2,242,639,562 7,982,203 3,900,088 2,467,190,345 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 period: possible events of default within the 12 months following the date of the presentation of financial statements. Assets included in Stage 1 have their ECL measured at 12-month ECL. • Lifetime Expected Credit Losses: ECL during the active period of the financial asset, which results of calculating the probability of impairment of an asset throughout its duration, up until its maturity. Instruments in Stage 2 or 3 have their ECL measured based on lifetime ECL. A pervasive concept in measuring ECL in accordance with IFRS 9 is that it should consider forward looking information. The Group has included below an explanation on how it has incorporated this in its ECL models. Grouping of instruments for losses measured on a collective basis For expected credit loss provisions modelled on a collective basis, a grouping of exposures is performed based on shared risks characteristics, such that risk exposures within group are homogeneous. In performing this grouping, there must be sufficient information for the group to be statistically credible. Where sufficient information is not available internally, the Group has considered benchmarking internal/external supplementary data to use for modelling purposes. The Group has identified four groupings: Retail, Retail-like, Wholesale and Naranja 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 (A1) (i.e. low risk of bankruptcy). • 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 (**) with impairment risk 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 (**) with impairment risk 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 (**) with impairment risk C - It does not apply to defaulted clients (*) It refers to customers who have been in stage 3 and back to stage 1, the entity has decided to keep them in stage 2. (**) 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 - 2024 (*) QII - 2024 (*) QIII - 2024 (*) QIV - 2024 (*) GDP Base -6.4 % -3.2 % -4.0 % 1.9 % Optimistic -6.1 % -2.6 % -3.1 % 3.1 % Pessimistic -7.3 % -5.1 % -6.8 % -2.1 % Unemployment Rate Base 13.9 % 28.7 % 13.2 % 2.7 % Optimistic 8.1 % 22.3 % 7.3 % -2.7 % Pessimistic 28.5 % 44.7 % 27.9 % 16.4 % Real Salary Base -17.7 % -15.7 % -14.6 % -7.3 % Optimistic -15.6 % -26.3 % -7.4 % 3.5 % Pessimistic -20.1 % -21.5 % -23.7 % -20.6 % Badlar rate Base 87.4 % -8.1 % -56.0 % -67.5 % Optimistic 80.3 % -13.5 % -60.4 % -71.4 % Pessimistic 117.0 % 29.8 % -5.5 % -16.8 % Consumer Price Index (CPI) Base 372.9 % 385.6 % 307.5 % 194.3 % Optimistic 359.1 % 356.0 % 269.6 % 157.7 % Pessimistic 445.6 % 558.6 % 553.7 % 459.3 % (*) These variations were calculated based on annual basis. Grupo Galicia has also carried out sensitivity analysis to assess the impact of volatility on macroeconomic variables on the result of the expected credit losses. Scenario 1 (change in the probability Base scenario Sensitivity Regular scenario 70 % 45 % Positive scenario 15 % 10 % Negative scenario 15 % 45 % Grupo Financiero Galicia ECL 138,300,714 138,201,763 Retail, Retail like and Wholesale ECL 95,700,960 95,749,978 Naranja ECL 42,599,754 42,451,785 Scenario 2 (change in forecast PIB, inflation, nominal Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP 1 % 1 % 1 % Unemployment Rate 10 % 10 % 10 % Real Salary -5 % -5 % -5 % Badlar 5 % 2 % 5 % CPI 2 % 2 % 2 % Grupo Financiero Galicia ECL 141,157,421 Retail, Retail like and Wholesale RCL 95,702,446 Naranja ECL 45,454,975 Maximum exposure to credit risk Unless identified at an earlier stage, all financial assets are deemed to have suffered a significant increase in credit risk when they are 30 days past due (“DPD”) and are transferred from stage 1 to stage 2. The following disclosure presents the ageing of stage 2 financial assets. It distinguishes those assets that are classified as stage 2 when they are less than 30 days past due (1-29 DPD) from those that are more than 30 DPD (30 and >DPD). Past due financial instruments are those loans where customers have failed to make payments in accordance with the contractual terms of their facilities. The following table contains an analysis of the credit risk exposure of financial instruments for which an ECL allowance is recognized. Retail Portfolio December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 762,818,569 203,339,455 8,598,328 974,756,352 1,212,714,389 1-30 13,116,789 11,395,258 1,471,391 25,983,438 35,794,556 31-60 — 8,057,236 1,113,782 9,171,018 12,636,265 61-90 — 5,449,649 2,393,087 7,842,736 14,129,903 Default — — 39,011,728 39,011,728 50,674,609 Gross Carrying amount 775,935,358 228,241,598 52,588,316 1,056,765,272 1,325,949,722 Loss allowance (15,101,655) (15,306,988) (41,023,973) (71,432,616) (130,520,205) Net Carrying amount 760,833,703 212,934,610 11,564,343 985,332,656 1,195,429,517 Retail like Portfolio December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 550,175,218 99,560,292 3,072,263 652,807,773 934,271,909 1-30 4,842,926 4,451,498 803,427 10,097,851 13,554,170 31-60 645,195 1,913,694 416,065 2,974,954 3,624,097 61-90 27,394 1,457,768 530,239 2,015,401 1,972,051 Default — — 11,285,401 11,285,401 8,001,949 Gross Carrying amount 555,690,733 107,383,252 16,107,395 679,181,380 961,424,176 Loss allowance (2,680,004) (2,333,631) (8,501,965) (13,515,600) (25,139,015) Net Carrying amount 553,010,729 105,049,621 7,605,430 665,665,780 936,285,161 Wholesale Portfolio December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 4,056,209,449 75,310,041 — 4,131,519,490 2,830,702,618 B1 — 2,223,898 9,053 2,232,951 2,991,877 Default — — 1,360,741 1,360,741 1,266,971 Gross Carrying amount 4,056,209,449 77,533,939 1,369,794 4,135,113,182 2,834,961,466 Loss allowance (7,653,080) (2,136,099) (963,565) (10,752,744) (10,926,634) Net Carrying amount 4,048,556,369 75,397,840 406,229 4,124,360,438 2,824,034,832 Naranja X December 31, 2023 December 31, ECL Staging Stage 1 |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2023 | |
Contingencies And Commitments [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. Banco Galicia has filed to the Federal Administration of Public Revenue (Administración Federal de Ingresos Públicos, AFIP) several claims for refund of the Income Tax paid in excess for the fiscal years 2014, 2015, 2016, 2017, 2018, 2019, 2021 and 2022, for the amounts of Ps.433,815, Ps.459,319, Ps.944,338, Ps.866,842, Ps.3,646,382, Ps.4,403,712, Ps.629,837 and Ps.4,039,802, respectively. 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.U. predecessor company), for 2014 and 2016 periods, for an amount of Ps.145,478, nominal value; Tarjeta Naranja S.A.U., 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.U. 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 fees, interest rates and 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: 12.31.23 12.31.22 Other Contingencies 16,145,865 22,877,301 For Commercial Lawsuits/Legal matters 10,568,289 16,705,092 For Labor Lawsuits 895,153 1,675,878 For Claims and Credit Cards 200 623 For Guarantees Granted 1,142 3,556 For Other Contingencies 4,681,081 4,492,152 For Termination Benefits 4,013,811 8,648,052 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 228,267 409,573 Total 20,387,943 31,934,926 |
Offsetting of Financial Assets
Offsetting of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [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, 2023 and 2022 are as follows: Offsetting effects on Statement of Related amounts not 12.31.23 Gross Offset Net Subject to Total Net Financial Assets Derivate Instruments 8,085,119 — 8,085,119 (5,781,386) 2,303,733 Total 8,085,119 — 8,085,119 (5,781,386) 2,303,733 Financial Liabilities Derivate Instruments 6,467,498 — 6,467,498 (5,781,386) 686,112 Total 6,467,498 — 6,467,498 (5,781,386) 686,112 Offsetting effects on Statement of Related amounts not 12.31.22 Gross Offset Net Subject to Total Net Financial Assets Derivate Instruments 3,332,990 — 3,332,990 (3,219,046) 113,944 Total 3,332,990 — 3,332,990 (3,219,046) 113,944 Financial Liabilities Derivate Instruments 3,531,185 — 3,531,185 (3,219,046) 312,139 Total 3,531,185 — 3,531,185 (3,219,046) 312,139 |
Off-Balance Sheet Items
Off-Balance Sheet Items | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of credit risk exposure [abstract] | |
Off-Balance Sheet Items | NOTE 48. OFF-BALANCE SHEET ITEMS In the normal course of business and in order to meet customers’ financing needs, off-balance sheet transactions are performed. These instruments expose the Group to the credit risk, in addition to loans recognized in assets. These financial instruments include credit lending commitments, letters of credit reserve, guarantees granted and acceptances. The same credit policies for agreed credits, guarantees and loan granting are used. Outstanding commitments and guarantees do not represent an unusually high credit risk. Agreed Credits They are commitments to grant loans to a customer in a future date, subject to compliance with certain contractual agreements that usually have fixed maturity dates or other termination clauses and may require a fee payment. Commitments are expected to expire without resorting to them. The total amounts of agreed commitments do not necessarily represent future cash requirements. Each customer’s solvency is assessed case by case. Guarantees Granted The issuing bank commits to reimbursing the loss to the beneficiary if the secured debtor does not comply with its obligation upon maturity. Export and Import Documentary Credits They are conditional commitments issued by the Group to secure a customer’s compliance towards a third party. Responsibilities for Foreign Trade Transactions They are conditional commitments for foreign trade transactions. Our exposure to credit loss upon the other party’s default in the financial instrument is represented by the contractual notional amount of the same investments. The credit exposure for these transactions is detailed below. 12.31.23 12.31.22 Agreed Credits 245,830,826 325,154,326 Documentary Export and Import Credits 18,275,456 12,228,262 Guarantees Granted 382,550,036 227,846,478 Liabilities for Foreign Trade Operations 18,315,376 10,411,211 The fees and commissions related to the items mentioned above as of the indicated dates were as follows: 12.31.23 12.31.22 For Agreed Credits 278,543 582,980 For Documentary Export and Import Credits 665,035 729,099 For Guarantees Granted 1,809,421 343,374 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: 12.31.23 12.31.22 Other Preferred Guarantees Received 17,014,335 2,033,143 Other Guarantees Received 11,759,019 14,501,930 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. 12.31.23 12.31.22 Values to be Debited 78,409,730 70,431,752 Values to be Credited 74,255,271 75,573,905 Values for Collection 524,459,464 720,869,685 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: 12.31.23 12.31.22 Trust Funds 18,384,835 45,302,843 Securities Held in Escrow 17,190,472,358 10,134,326,343 |
Transfer of Financial Assets
Transfer of Financial Assets | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transfer of financial assets [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. |
Non-controlling Interest
Non-controlling Interest | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Non Controlling Interests [abstract] | |
Non-controlling Interest | NOTE 50. NON-CONTROLLING INTEREST The following tables provide information about each subsidiary that has a non-controlling interest. The non-controlling equity investment percentages and votes as of the indicated dates are as follows: Company Place of Business 12.31.23 12.31.22 Galicia Broker Asesores de Seguros S.A. CABA -Argentina 0.01 % 0.01 % Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) CABA -Argentina 0.57 % — % Changes in the Group’s non-controlling interests as of the indicated dates were as follows: Company Balance Purchases / Cash Profit Balance Galicia Broker Asesores de Seguros S.A. 59 — (59) 62 62 Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) — 91,245 — (2,577) 88,668 Total 59 91,245 (59) (2,515) 88,730 Company Balance as Purchases / Cash Profit Balance Galicia Broker Asesores de Seguros S.A. 31 — — 28 59 Total 31 — — 28 59 Company Balance as Purchases / Cash Profit Balance as Galicia Broker Asesores de Seguros S.A. 31 — — — 31 Total 31 — — — 31 Summary information on subsidiaries is detailed in Note 15. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [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 proprietor ships 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, 2023 and December 31, 2022 amounts to Ps.15,690,972 and Ps.15,841,127 respectively. 51.3. Key Personnel’s Structure Key personnel’s structure as of the indicated dates is as follows: 12.31.23 12.31.22 Regular Directors 95 79 General Manager 1 1 Area and department Managers 96 95 Total 192 175 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. 12.31.23 12.31.22 Total Amount of Credit Assistance 18,191,375 17,145,236 Number of Addressees (quantities) 266 279 - Natural Persons 218 219 - Legal Entities 48 60 Average Amount of Credit Assistance 68,389 61,453 Maximum Assistance 4,922,808 2,627,944 Financial assistance, including the one that was restructured, was granted in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other non-related parties. Besides, this financial assistance did not involve more than the normal risk of loan losses or present other unfavorable features. The information about the credit assistance granted to affiliates based on the quality of receivables, their documentation and preferred guarantees is stated in Schedule N. 51.5. Amounts of Related Party Transactions The amounts of related party transactions conducted as of the indicated dates are as follows: 12.31.23 12.31.22 Assets Cash and Due from Banks 32,925,610 15,722,561 Debt Securities at Fair Value through Profit or Loss 14,192,140 12,636,623 Derivative Financial Instruments 6,460,870 3,865,120 Repurchase Transactions 21,381,414 33,994,862 Other Financial Assets 9,872,423 161,060 Loans and Other Financing 65,878,587 110,405,186 Other Debt Securities — 1,129,230 Total Assets 150,711,044 177,914,642 Liabilities Deposits 42,792,375 22,897,792 Derivative Financial Instruments 6,460,870 3,865,121 Repurchase Transactions 21,381,414 33,994,862 Other Financial Liabilities 7,598,375 233,462 Financing Received from the Argentine Central Bank and other Financial Institutions 57,578,136 102,977,285 Debt Securities Issued 12,017,844 13,765,853 Subordinated Debt Securities 2,174,296 — Liabilities for Insurance Contracts 4,122 13,490 Other Non-financial Liabilities 703,620 166,777 Total Liabilities 150,711,052 177,914,642 12.31.23 12.31.22 12.31.21 Income (Loss) Net Income (Loss) from Interest 2,726,778 6,536,244 (3,431,444) Net Fee Income (Expense) 10,071,566 9,262,528 10,751,388 Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (4,902,244) (7,032,117) 2,055,661 Other Operating Income (Expense) 7,497,114 8,029,042 9,613,987 Income from Insurance Business — — (18,802,510) Insurance Business Result (15,098,338) (15,435,857) — Administrative Expenses (825,369) (1,649,430) (852,450) Other Operating Expenses (1,682) (50,735) (44,427) Total Income (532,175) (340,325) (709,795) |
Additional Information Required
Additional Information Required by the Argentine Central Bank | 12 Months Ended |
Dec. 31, 2023 | |
Additional information [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 amount as of January 1, 2023 will increase to Ps.6,000. This system does not cover deposits made by other financial institutions, deposits made by parties related to the Bank, either directly or indirectly, deposits of securities, acceptances or guarantees and those deposits set up at an interest rate exceeding the one established regularly by the Argentine Central Bank. Deposits acquired through endorsement, placements made as a result of incentives other than interest rates and locked-up balances from deposits and other excluded transactions are also excluded. This system has been implemented through the creation of the Deposit Insurance Fund (“FGD”), which is managed by a company called Seguros de Depósitos S.A. (“SEDESA”). SEDESA’s shareholders are the Argentine Central Bank and the financial institutions in the proportion determined for each one by the Argentine Central Bank based on the contributions made to the fund. The monthly contribution institutions should make to the FGD is 0.015% on the monthly average of total deposits. 52.2. RESTRICTED ASSETS As of December 31, 2023, and 2022, 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 12.31.23 12.31.22 For transactions in ROFEX, MAE and BYMA 72,206,286 162,070,719 For appraisals from repo transactions 2,618,547 — For debit / credit cards transactions 21,871,570 24,081,024 For attachments 10,355 31,169 Liquid offsetting entry required to operate as CNV agent 756,300 504,752 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada ) — 3,426 Guarantees for the Regional Economies Competitiveness Program 135,667 270,307 For other transactions (includes guarantees linked to rental contracts) 185,137 126,137 For forward purchases of repurchase transactions 23,566,923 — For surety guarantees 169,857,361 — 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: 12.31.23 12.31.22 Escrow Accounts 95,090,124 124,639,467 c) Deposits in favor of the Argentine Central Bank 12.31.23 12.31.22 Unavailable deposits due to exchange transactions — 1,660 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferablenon-endorsable registered ordinary shares in Electrigal S.A., the transfer of which is subject to approval by the national authorities, according to the terms of the previously executed concession contract. e) Contributions to Risk Fund Banco de Galicia y Buenos Aires S.A.U., in its capacity as sponsoring partner in Garantizar S.G.R. Risk Fund, Don Mario S.G.R. and Móvil S.G.R., is committed to maintaining the contributions made to them for two (2) years. 12.31.23 12.31.22 Fondo de Riesgo Garantizar SGR 3,283,027 3,501,731 Don Mario SGR 800,000 1,557,050 Movil SGR 1,100,000 311,410 Potenciar S.G.R. 1,198,353 — Bind Garantías S.G.R. 50,000 — INVIU S.A.U. 12.31.23 12.31.22 Liquid offsetting entry required to operate as CNV agents 306,071 187,363 Guarantees linked to surety bonds 694,447 197,225 Surety 6,799 — Tarjeta Naranja S.A.U. 12.31.23 12.31.22 Attachments arising from judicial cases 618 540,682 Guarantees linked to rental contracts 7,940 26,535 Galicia Asset Management S.A.U. 12.31.23 12.31.22 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV(*) 261,821 306,589 (*) As of December 31, 2023, it corresponds to 6,000,000 shares of Fima Capital Plus “C” Mutual Fund. Galicia Securities S.A.U. 12.31.23 12.31.22 For transactions in the market 198,276 646,074 Liquid offsetting entry required to operate as CNV agents 149,144 186,107 Guarantees linked to surety bonds 11,642,308 1,112,291 Naranja Digital Compañía Financiera S.A.U. 12.31.23 12.31.22 Escrow Accounts 4,872,128 1,737,500 The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.23 12.31.22 Total Restricted Assets 410,869,202 322,039,218 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 (*) 11.23.11 Exxon Mobil 94,881 04.19.25 09.12.14 Coop. de Trab. Portuarios 7,095 09.12.24 04.26.22 Fondo Anticiclico Agroalim 64,725 06.30.24 03.08.23 Fondo Fiduciario Aceitero 7,874 06.30.24 Total 174,575 ____________________ (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 630,982 12.31.24 05.14.09 GAS II 17,486,720 12.31.24 06.08.11 MILA III 83,143 12.31.24 09.01.11 MILA IV 9,415 12.31.24 Total 18,210,260 (*) 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, 2023, for the Escrow Agent for Collective Investment Products in the Financial Trustors’ Registry, the required Shareholders’ Equity amounts to Ps.440,230, and the minimum required offsetting entry is Ps.220,115. For AlyC and AN—INTEGRAL, said requirement amounts to Ps.217,960, with the minimum offsetting entry required of Ps.108,980. The Entity integrated these requirements with the Bono República Argentina Ley Local 2030, maturing on July 9, 2030, whose fair value amounts to the sum of Ps.756,300, 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. 622/13, the minimum Shareholders’ Equity required to operate as Escrow Agent for Collective Investment Products, Mutual Funds amounts to Ps.523,642 and the minimum offsetting entry amounts to Ps.261,821. The Company’s Shareholders’ Equity as of December 31, 2023, exceeds the minimum required by the aforementioned Resolution. Galicia Asset Management S.A.U. integrated said requirement with 6,000,000 shares of Fondo Fima Premium Class “C”, equivalent to Ps.295,718. 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, 2023, said requirement amounted to Ps.217,960, and the minimum offsetting entry required was Ps.108,980. For Comprehensive Mutual Funds Placement and Distribution Agent, said requirement amounts to Ps.75,766, and the minimum offsetting entry required is Ps.37,883. As of December 31, 2023, the Company’s Shareholders’ Equity amounted to Ps.11,322,823 and the offsetting entry would be comprised of government securities amounting to Ps.149,144. 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.217,960 as of December 31, 2023, and a minimum offsetting entry required of Ps.108,980. For Comprehensive Mutual Funds Placement and Distribution Agents, said requirement amounts to Ps.75,766, and the minimum offsetting entry required is Ps.37,883. As of December 31, 2023, the Company’s Shareholders’ Equity amounted to Ps.7,749,903 and the offsetting entry would be integrated with a demand account with an amount of Ps.306,071. 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 Mix II", “Fima Renta Fija Internacional”, "Fima Sustentable ASG" and “Fima Acciones Latinoamericanas US$”, it is hereby stated that the total quantity held in escrow as of December 31, 2023 is 83,582,052,338 shares, their cash value being Ps.3,483,939,552, which is reflected in the account “Depositors of Securities Held in Escrow.” As of December 31, 2022, securities held in escrow amounted to the quantity of 42,336,393,400 shares and their cash value was Ps.2,412,629,138. The balances of the Mutual Funds as of the indicated dates are detailed as follows: Mutual Fund 12.31.23 12.31.22 FIMA Acciones 28,374,278 11,874,867 FIMA P.B. Acciones 16,307,585 8,042,022 FIMA Renta en pesos 81,129,578 59,391,192 FIMA Ahorro pesos 59,508,744 88,391,734 FIMA Renta Plus 55,316,473 25,860,812 FIMA Premium 2,880,465,837 1,940,896,094 FIMA Ahorro Plus 99,933,201 161,119,964 FIMA Capital Plus 224,333,912 100,252,263 FIMA Abierto PyMES 6,797,941 4,477,666 FIMA Mix I 18,612,135 8,427,015 FIMA Mix II 4,212,316 — FIMA Renta Fija Internacional 4,756,860 3,551,354 FIMA Sustentable ASG 3,660,258 — FIMA Acciones Latinoamericanas Dólares (*) 530,434 344,155 Total 3,483,939,552 2,412,629,138 ____________________ (*) Stated at the reference exchange rate of the US$ set by the Argentine Central Bank. See Note 1.6.(b). All the transactions detailed above are recorded in off-balance sheet items—securities held in custody. The mutual funds detailed above have not been consolidated as the Group is not a controlling company thereof, since the depository role does not imply in this case: • power over the trust to run material activities; • exposure or right to variable returns; • capacity to have influence on the amount of returns to be received for the involvement. 52.4.3. Storage of Documents Pursuant to General Resolution No. 629 of the CNV, Banco de Galicia y Buenos Aires S.A.U. notes that it has supporting documents regarding accounting and management transactions, which are stored at AdeA (C.U.I.T. No. 30-68233570-6), Plant III located at Ruta Provincial 36 km 31.5 No. 6471 (CP 1888) Bosques, Province of Buenos Aires, with legal domicile at Av. Juramento 1775, 4th. floor, (CP 1428), Autonomous City of Buenos Aires. 52.5. COMPLIANCE WITH MINIMUM CASH REQUIREMENTS: As of December 31, 2023, the balances recorded as computable items are as follows: Currency Item Ps. US$ Euros (*) Checking Accounts held in Argentine Central Bank 28,983,870 770,556 28 Escrow Accounts held in Argentine Central Bank 43,849,639 4,203 — National Treasury Bonds in Argentine Pesos computable for minimum cash 116,211,931 — — Government Securities 249,256,424 — — Total for integration Minimum Cash 438,301,864 774,759 28 ____________________ (*) Stated in thousands of US$. 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, 2023: UIF Proceedings -Docket 867/13 . ▪ Penalty Notification date: June 19, 2020. ▪ Reason of the Penalty: Reason of the Penalty: alleged non-compliance with the provisions of Article 21 of the Anti-Money Laundering Law and alleged non-compliance with the provisions of UIF Resolution No. 121/11, especially with the provisions of Article 13 (paragraph j), Article 14 (paragraph h); Article 21 (paragraph a); Article 23, and Article 24 (paragraphs d and e). These objections are related to the risk matrix and the transactions monitoring system regarding prevention of money laundering and terrorist financing and required information allegedly missing. ▪ Amount applied and responsible persons receiving penalties: penalties for global amounts of Ps.440 applied to the Bank and eight Directors. ▪ Status of the Case: On September 14, 2020, the direct appeal to the penalty was filed before the National Court of Appeals for Federal Administrative Disputes of the Federal Capital, under the terms of Article 25 of Law No. 25,246, amended by Law No. 24,144; Room III, where the proceeding is pending, was designated to issue judgment. On February 19, 2021, the UIF answered the direct appeal; on March 3, 2021, the procedural step was taken by which the parties were warned that judgment was being considered, and on November 30, 2023, Room III of the National Court of Appeals for Federal Administrative Matters decided to reject the direct appeal filed, with costs awarded. On December 15, 2023, a Federal Extraordinary Appeal was filed against this last decision. On February 2, 2023, the UIF answered the direct appeal, but no decision has been made to date. UIF Summary Proceeding - Docket No. 127/18. ▪ Penalty Notification date: April 18, 2022. ▪ Imputation of Charges: alleged breaches in the determination of customer profile, deficiencies in the implementation of technological tools and monitoring and in the parameterization of alerts, as well as the alleged untimeliness of an STR filed and failure to file an STR of a customer; this in alleged violation of Articles 20 bis, 21 Paragraphs a) and b), and 21 bis of Law No. 25,246; and Articles 3 (Paragraph g); 21 (Paragraphs g and j); 22 (Paragraph a-); 23; 24 (Paragraphs d-, e- and f-); and 34 of UIF Resolution No. 121/2011, as amended. ▪ Defendants: the Bank and seven Directors. ▪ Status of the case: on July 1, 2022, the defense and presentation of evidence was filed together with several motions. On February 17, 2023, it was decided to proceed to the admittance of evidence, which was subsequently produced. On April 14, 2023, notice was served to present the argument on the merits of the evidence, which was presented on April 28 Summary Proceeding No. 1570. ▪ Penalty Notification date: August 13, 2021. ▪ Reason of the Penalty: alleged violation to the provisions of the Amended Text on “Truthfulness of Accounting Records”, Point 2.2. (“Liabilities”), in accordance with point 1 of the aforementioned Amended Text, pursuant to Schedule to Argentine Central Bank Communication “A” 6248, CONAU 1 – 1260 -supplementary and amending provisions. Amount applied and responsible persons receiving penalty: the Bank, for an amount of Ps.1,680. ▪ Status of the Case: On September 6, 2021, an appeal was filed with the Argentine Central Bank against the penalty under the terms of Article 42 of Law No. 21,526, amended by Law No. 24,144. On September 19, 2022, the Argentine Central Bank filed its answer replying to the terms of the appeal. On June 15, 2023 we were notified of the Court’s rejection of the evidence provided by the Bank. Since the judgment is not subject to Federal Extraordinary Appeal (because it is not final), a written document was filed to pursue a federal case to preserve the right of defense on account of its violation. Summary Proceeding No. 1613. ▪ Date of notification of the opening of the summary proceeding: August 24, 2023. ▪ Imputation of Charges: alleged violation of the provisions of the Ordered Text of the rules on the “Regulation of the bank checking account”, according to Communication “A” 4971. OPASI Circular 2 - 402. Schedule. Section 7, Paragraph 7.3, Points 7.3.1.5 -in accordance with the provisions of Section 8, Points 8.2.3-, 7.3.3.2 i) and 7.3.3.2 iii) (as supplemented and amended) due to an alleged failure to ratify in court the report of loss and an inadequate report of the checks in the Information Regimes regarding two checks corresponding to a customer which were rejected due to an “Order not to pay - With funds”. ▪ Defendants: the Bank, three Managers and a Check Processing Leader. ▪ Status of the Case: On September 12, 2023, a general reply was filed by all the defendants, and on September 25, 2023, additional personal replies were filed. Summary Proceeding No. 1620. ▪ Date of notification of the opening of the summary proceeding: December 18, 2023. ▪ Imputation of Charges: alleged violation of the provisions of the Ordered Text of the “Minimum Standards on Internal Controls for Financial Institutions”, according to Communication “A” 6552, Circular CONAU 1 - 1289, Schedule I, Section I - Basic Concepts-, Point 1 - Internal Control, and Section IV - Design and Documentation of Controls-, Point 1 - Responsibilities in the Design and Implementation of Controls-, as supplemented and amended; and the Ordered Text of the rules on “Guidelines for Risk Management in Financial Institutions”, according to Communication “A” 5398, Circular RUNOR 1 - 1013, Schedule, Section 1 - Risk Management Processes-, Point 1.1. -Scope of the Guidelines-, Point 1.4. -General Principles-, Sub-point 1.4.3, and Section 6 -Operational Risk Management-, Point 6.1.2., as supplemented and amended, due to alleged failures in internal controls and deficiencies in the management of the financial entity between 09.02.19 and 08.05.22 . ▪ Defendants: the Bank, and nineteen officers (Directors, Syndics, Managers and Tribe Leaders). ▪ Status of the Case: On February 2, 2024, a general reply was filed by all the defendants. Summary Proceeding No. 7732. ▪ Date of notification of the opening of the summary proceeding: August 08, 2022. ▪ Imputation of Charges: Having carried out exchange operations carried out by customers without the prior approval of the Argentine Central Bank in alleged violation of art. 1, sections e) and f) of the Criminal Exchange Law (O.T. by Executive Order No. 480/95), integrated with the regulations of points 5, 6, 9, 10, 15 and 18 of Communication “A” 6770, Communication “A” 6815, Communications “C” 43716, 49077, 50737, 52384, 52388, 57618, 62862, 66581, 66582, 67343, 70322, 81561, 82665 and 84797, amending and supplementary. ▪ Defendants: the Bank, General manager, Area managers and other officials. ▪ Status of the case: On February 28, 2023, the global reply of all the defendants was filed. The statute of limitations was raised. The defendants’ individual replies for their defense were recently filed. Summary Proceeding No. 1544. ▪ Penalty notification date: November 9, 2018. ▪ Reasons of the penalty: alleged infraction to provisions established in Argentine Central Bank Communication “A” 6242, SINAP 1 – 61. ▪ Amount applied and parties receiving penalties: the Bank; three Directors, the General Manager and a Manager, in the amount of Ps. 747.50 to the first one; Ps. 172.50 to one of the Directors; Ps. 143.75 individually to the remaining two Directors, the General Manager and the Manager ▪ Status of the case: On November 26, 2018, a direct appeal to the penalty was filed before the National Court of Appeals for Federal Administrative Disputes of the Federal Capital, under the terms of Article 42 of Law No. 21,526, amended by Law No. 24,144; Room V was designated to issue judgment. On February 26, 2020, said Room V decided to reject the direct appeal and confirm the penalties, which was notified on February 27. On March 12, 2020, an extraordinary federal appeal was filed against that decision, which was partially granted by Room V. On September 6, 2022, the Argentine Supreme Court declared the appeal inadmissible (Article 280 of the Argentine Code of Civil and Commercial Procedure), as a result of which the Argentine Central Bank attorneys requested the regulation of their fees, which were regulated on August 8, 2023. 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 FOR THE INCOME DISTRIBUTION Pursuant to Section 70 of the General Corporations Law, Grupo Financiero Galicia S.A. should transfer 5% of the net income for the year to the Legal Reserve until 20% of the capital stock is reached, plus the balance of the Capital Adjustment account. With respect to Banco Galicia, the Argentine Central Bank regulations require that 20% of the profits shown in the Income Statement at fiscal year-end, plus (or less), the adjustments made in previous fiscal years and, less, if any, the loss accumulated at previous fiscal year-end, be allocated to the legal reserve. This proportion applies regardless of the ratio of the Legal Reserve fund to Capital Stock. Should the Legal Reserve be used to absorb losses, earnings shall be distributed only if the value of the Legal Reserve reaches 20% of the Capital Stock plus the Capital Adjustment. The Argentine Central Bank sets rules for the conditions under which financial institutions can make distributions of profits. According to these rules, profits can be distributed as long as results of operations are positive after deducting not only the Reserves, which may be legally and statutory required, but also the following items from Retained Income: The difference between the carrying amount and the market value of public sector assets and/or debt instruments issued by the Argentine Central Bank not valued at market price, the amounts capitalized for lawsuits related to deposits and any unrecorded adjustments required by the external auditors or the Argentine Central Bank. Moreover, in order that a financial institution be able to distribute profits, such institution must comply with the capital adequacy rule, i.e. with the calculation of minimum capital requirements and the regulatory capital. For these purposes, this shall be done by deducting from its assets and Retained Income all the items mentioned in the paragraph above. Moreover, in such calculation, a financial institution shall not be able to compute the temporary reductions that affect minimum capital requirements, computable regulatory capital or its capital adequacy. 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. The Argentine Central Bank established that, from 01.01.22 until 12.31.22, 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. Communication "A" 7719 established that as from 01.01.23 and until 12.31.23, financial institutions authorized by the Argentine Central Bank may distribute profits in 6 equal, monthly and consecutive installments of up to 40% of the amount that would have corresponded if the rules on "Distribution of profits" had been applied. Communication "A" 7984 established that as from 01.01.24 and until 12.31.24, financial institutions authorized by the Argentine Central Bank may distribute profits in 6 equal, monthly and consecutive installments of up to 60% of the amount that would have corresponded if the rules on "Distribution of profits" had been applied. Tarjeta Naranja S.A.U.’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 (Ps.51,737,890 in closing currency). 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 March 4, 2024. Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.23 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 716,519,943 Legal reserve 24,189,511 Distributable reserves 919,958,408 Non distributable reserves 2,205,317 Profit for the year 336,243,903 Total Shareholder’s equity under the rules of the Argentine Central Bank 2,017,872,961 The Board of Directors proposes that the profit for fiscal year, which as of December 31, 2023 amounts to Ps.336,243,903, 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.65,000,000; and (iii) the remaining balance to the constitution of a Special Discretionary Reserve for eventual dividend distribution. 52.9. CAPITAL MANAGEMENT AND CORPORATE GOVERNANCE TRANSPARENCY POLICY Grupo Financiero Galicia S.A. Board of Directors Grupo Financiero Galicia S.A.’s Board of Directors is the Company’s highest management body. It is made up of nine directors and three alternate directors, who must have the necessary knowledge and skills to clearly understand their responsibilities and duties within the corporate governance, and to act with the loyalty and diligence of a good businessman. As set out in its bylaws, the term of office for both directors and alternate directors is three (3) years; they are partially changed every year and may be reelected indefinitely. The Company complies with the appropriate standards regarding total number of directors, as well as the number of independent directors. Furthermore, its bylaws provide for the flexibility necessary to adapt the number of directors to the possible changes in the conditions in which the Company carries out its activities, from three (3) to nine (9) directors. The Board of Directors complies, in every relevant respect, with the recommendations included in the Code on Corporate Governance as Schedule IV to Title IV of the regulations issued by the National Securities Commission (Text amended in 2013). 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. Therefore, Grupo Financiero Galicia S.A. directly and indirectly holds those equity interests in companies that carry out activities defined as non-supplementary. Grupo Financiero Galicia S.A. has a reduced structure due to its nature as holding company of a group of financial services. Accordingly, certain typical organizational aspects of large operating companies are not applicable thereto. To conclude, one should note that Grupo Financiero Galicia S.A. is under the control of a pure holding company, EBA Holding S.A., which has the number of votes necessary to hold the majority of votes at the Shareholders’ Meetings, although it does not have any managerial functions over the former. Compensation Systems Directors’ compensation is defined by the General Shareholders’ Meeting and is fixed within the limits established by law and the corporate bylaws. The Audit Committee expresses its opinion on whether compensation proposals for Directors are reasonable, taking into consideration market standards. Business Conduct Policy The Company has consistently shown respect for the rights of its shareholders, reliability and accuracy in the information provided, transparency as to its policies and decisions, and caution with regard to the disclosure of strategic business issues. Code of Ethics Grupo Financiero Galicia S.A. has a Code of Ethics formally approved that guides its policies and activities. It considers business objectivity and conflict-of-interests related-aspects, and how the employee should act upon identifying a breach of the Code of Ethics. Banco de Galicia y Buenos Aires S.A.U. Banco Galicia’s Board of Directors is the Company’s highest management body. As of the date of preparation of these consolidated financial statements, it is made up of seven directors and four alternate directors, |
Economic Context Where the Grou
Economic Context Where the Group's Operates | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of economic context [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 the international arena, during the last quarter of 2023, the world’s Central Banks continued with their contractionary monetary policies, seeking to bring inflation to their target levels. This scenario, which began in 2022, favored a slowdown in prices, but negatively affected the level of activity in certain regions, such as Europe. In contrast, the United States maintained its growth, supported by both a solid level of consumption and a labor market that remained steady. This boosted the level of salaries, which led to higher service costs, pushing inflation sideways during the last quarter of the year. Against this context, the Federal Reserve maintained rates at 5.5% in order to achieve sufficiently restrictive levels for the economy, and thus slow down the level of activity. The same path was taken by the European Central Bank, which held interest rates steady at its last meeting. Against this context, the focus will be on the effects of these policies on both growth at world level and international markets. At the local level, the main indicators in Argentina were: • The country ended 2023 with a 1.6% drop in activity, according to the Monthly Economic Activity Estimator. • Between January 1 and December 31, 2023, the accumulated inflation reached 211.4% (CPI). • Between January 1, 2023 and December 31, 2023, the Argentine peso depreciated against the US Dollar from Ps. 178.1417/USD at the beginning of the fiscal year to Ps. 808.4833/USD at the end of the fiscal year, in accordance with the Argentine Central Bank Communication “A” 3500. • Since the end of 2019, the monetary authority has been imposing increasing foreign exchange restrictions in order to contain the demand for dollars. This implied, among other things, the requirement to request prior authorization from the Argentine Central Bank to make payments abroad in transactions such as the payment of dividends to non-residents, the payment of financial loans abroad and the payment of imports of certain goods and services, among others. These restrictions continued to intensify in 2023. On December 10, 2023, a new government took office in Argentina, which has set among its objectives the establishment of a new economic regime in the country, for which a wide-ranging reform of laws and regulations is intended to take place. The new government proposes to move forward with a significant deregulation of the economy and with structural reforms that will free up restrictions to invest and operate in the country, including the gradual easing of the aforementioned exchange restrictions, with the objective of eliminating them once the macroeconomic conditions to do so are in place. On December 12, 2023, the Ministry of Economy presented the economic program of the new administration, whose cornerstone is to eliminate the fiscal deficit and its financing through money issuance by the Argentine Central Bank, as well as the strong expansion of interest-bearing liabilities resulting from sterilization operations. Another central element of the new program is the elimination of distortions, restrictions and bureaucratic obstacles and the correction of relative prices (especially the exchange rate and utility rates), as a prerequisite for stabilizing the economy. The Argentine GDP fell 1.6% in 2023. The economy displayed a retraction of 1.9% in seasonally adjusted terms with respect to the third quarter of 2023. Although at the time of publishing this report the National Accounts for the first quarter of 2024 have not yet been released, the performance of the Monthly Estimator of Economic Activity for the first month of the year is known. According to this indicator, the economy fell 4.3% year-over-year in January, while, in seasonally adjusted terms, the retraction was 1.2% month-over-month. The Non-financial Public Sector showed a primary deficit of Ps. 5,483,305 million (equivalent to 2.9% of GDP), with total revenues falling in real terms in greater proportion than primary expenditure. Resources accumulated a real drop of 7.3%, while expenditure fell 4.9% (the comparison excludes income from primary issues computed in 2022, which exceeded the limit agreed with the International Monetary Fund). The financial deficit amounted to Ps. 8,737,137 million (-4.6% of GDP), with interests totaling Ps. 3,253,832 million. Additionally, the fiscal result for February 2024 was published, which showed a primary surplus of Ps. 1,232,525 million and a financial result of Ps. 338,112 million. Primary expenditure fell by 36.4% year-over-year in real terms, while revenues decreased by 6.3%. International Reserves accumulated a drop of US$ 21,525 million, ending the year at US$ 23,073 million. This was the result of the variation of different factors such as the payment of principal and interest maturities to the International Monetary Fund, to other international organizations and to foreign currency debt holders, the fall in minimum cash requirements, the sales of foreign currency to the private sector during most of the year, the repurchase of sovereign bonds by the Treasury and the purchase of securities by the Central Bank. It is worth noting that, as of December 13, the Central Bank began to purchase foreign currency from the private sector, reversing the dynamic of falling Reserves evidenced during most of 2023. This change in trend occurred after the correction of the official exchange rate validated by the monetary entity. During the last two weeks of 2023, foreign currency purchases from the private sector totaled US$ 2,863 million and reserves increased by US$ 1,940 million. As of April 18, 2024, foreign exchange purchases from the private sector continued to show a positive balance and accumulated US$ 11,103 million so far this year. The inflation rate closed the year at 211.4%, an increase of 116.6 p.p. with respect to inflation in 2022 (+94.8%). Inflation showed an increasing dynamic throughout 2023. The year had started with monthly average rates of 6.8%, while inflation was 8.3% in October, 12.8% in November and 25.5% in December. The acceleration in December was partly due to the rise in the exchange rate and to the correction of prices of some of the goods and services that had accumulated lags. On the other hand, after showing variations of 20.6% and 13.2% in January and February 2024, respectively, the third measurement of the year amounted to 11.0%. Thus, year-over-year inflation rose to 287.9%. The exchange rate showed a crawling peg during most of the year. However, it did display discrete jumps on two occasions. The first took place on August 14, when the peso increased from $/US$ 286.2 to US$ 350 overnight . The second jump occurred on December 13, when the exchange rate went from $/US$ 366.5 to $/US$ 800.0, implying a discrete jump of 118.3%. In the weeks following this correction, the exchange rate maintained a daily crawl equivalent to 2.0% per month. The exchange rate closed 2023 at $/US$ 808.5, an increase of 356.4% with respect to the close of 2022. The crawling speed remained at the level of 2.0% per month during the first quarter of 2024 and is still in effect at the time of writing this report. During 2023, the BCRA raised the interest rate on Liquidity Notes (LELIQ) on six occasions. The first increase took place in March, with rates rising from 75% to 78% (Nominal Annual Rate). In April the rate was increased twice, first from 78% to 81%, and then to 91%. In May, the benchmark interest rate increased to 97%, a level at which it remained until mid-August. After the primary elections, the monetary authority raised the interest rate to 118% and to 133% in October. On December 18, the Central Bank announced that the reference rate would be the Overnight Repo rate, and simultaneously cut it to 100%. Additionally, the Central Bank implemented a reduction in the minimum interest rate limits for time deposits of individuals, which went from 133% to 110%. Subsequently, on March 11, the monetary authority made a further cut in the reference rate, bringing it to 80%. It also deregulated the minimum rate on time deposits. Finally, on April 11, it made the last cut so far, bringing the monetary policy rate to 70%. During January, the International Monetary Fund reported that its technical team had completed the seventh review of the Extended Fund Facility Agreement, which was approved by the IMF's Board of Directors. This allowed for a disbursement of approximately US$4,700 million (SDR 3,500 million). Part of this disbursement was used to cover the principal payment of approximately US$ 1,900 million to the IMF. The EFF’s seventh review confirmed that the targets for primary fiscal deficit, monetary financing to the Treasury, accumulation of Net International Reserves (NIR) and domestic arrears for 2023 were not met. Additionally, a target for NIR accumulation of US$ 10,000 million and a primary fiscal surplus of 2% of GDP were set for 2024. At the same time, the monetary financing criterion was modified, and the target was set at $ 0 for the year. In addition, the new government published a Decree of Necessity and Urgency (DNU) which annuls and/or modifies some 300 laws, introducing reforms in the labor market, the customs code and the status of public companies, among others. Although the DNU must be approved and ratified by at least one of the chambers of the Congress, its provisions are effective as of December 29, 2023. In addition, the Congress of the Nation held extraordinary sessions to deal with a series of legislative initiatives, among them a bill of "Omnibus Law" with tax reforms, including changes to the Civil and Commercial Code. However, the ruling party withdrew the bill after the lack of support for its approval. The context of volatility and uncertainty continues as of the issuance date of these condensed consolidated interim financial statements. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Events After Reporting Period [abstract] | |
Subsequent Events | NOTE 54. SUBSEQUENT EVENTS Dividends On February 28, 2024, Galicia Asset Management S.A.U. held an Ordinary Shareholders’ Meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.19,370,000. On March 26, 2024, Galicia Warrants S.A. held an Ordinary Shareholders’ Meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.350,000. On April 16, 2024, Galicia Securities S.A.U. held an Ordinary Shareholders’ Meeting, at which shareholders approved the payment of a cash dividend in the amount of USD10,000. On April 23, 2024, Galicia Seguros S.A.U. held an Extraordinary Shareholders’ Meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.6,200,000. On April 23, 2024, Sudamericana Holding S.A. held an Extraordinary Shareholders’ Meeting, at which shareholders approved the payment of a cash dividend in the amount of Ps.6,200,000. Irrevocable Contributions On January 03, 2024, Grupo Financiero Galicia S.A. made a contribution to Galicia Holdings US Inc for the sum of USD100. On January 05, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of its subsidiary Galicia Ventures LP for the sum of Ps.285,272. On January 05, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Galicia Investments LLC in the amount of Ps.2,882. On January 18, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Galicia Holdings US Inc in the amount of USD1,211. On February 21, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Galicia Ventures LP in the amount of Ps.331,531. On February 21, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Galicia Investments LLC in the amount of Ps.3,349. On February 29, 2024, Tarjetas Regionales S.A. made a contribution in favor of the subsidiary Naranja Digital Compañía Financiera S.A.U. in the amount of Ps.400,000. On Mar 6, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Agri Tech Investments LLC in the amount of Ps.500,000. On Mar 12, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary Agri Tech Investments LLC in the amount of Ps.20,039. On Mar 25, 2024, Grupo Financiero Galicia S.A. made a contribution in favor of the subsidiary IGAM LLC in the amount of Ps.4,272,500. Debt Securities On February 05, 2024, Tarjeta Naranja S.A.U. issued and placed Class LXI Debt Security. The aforementioned issuance was made for an amount of Ps.35,000,000, maturing 12 months from the issuance date. Interest will be accrued at Badlar rate plus a 3.50% margin, to be paid quarterly. On January 11, 2024, Banco de Galicia y Buenos Aires S.A.U. issued and placed Class XIII Debt Security. The aforementioned issuance was made for an amount of Ps.24,727,778, maturing 6 months from the issuance date. Interest will be accrued at Badlar rate plus a 2.00% margin, to be paid together with the full principal amount at maturity. Shareholders' meeting On February 26, 2024, Tarjeta Naranja S.A.U. held an Extraordinary Shareholders' Meeting, at which the shareholders, as a consequence of the Merger with Cobranzas Regionales S.A., approved a capital increase in the amount of Ps.720. On March 13, 2024, an Ordinary Shareholders' Meeting of Banco de Galicia y Buenos Aires S.A.U. was held. At the aforementioned Meeting, among other items, it was resolved: • To distribute the unallocated results as follows: (i) to Legal Reserve the amount of Ps.77,244,791; (ii) to Optional Reserve for Future Profit Distributions the amount of Ps.308,979,164. • To set aside the amount of up to Ps.255,000,000 to be used for the Distribution of Cash Dividends for up to said amount, subject to the prior authorization of the Central Bank of the Argentine Republic. On April 3, 2024, the Ordinary Shareholders' Meeting of Banco de Galicia y Buenos Aires S.AU. decided that the amount of the dividends approved at the meeting of March 13, 2024, would be paid in a homogeneous currency at the time of payment and in 6 installments, in accordance with the provisions of Com. "A" 7984 of the Central Bank of Argentina. On April 16, 2024, an Ordinary Shareholders' Meeting of Naranja Digital Compañía Financiera S.A.U. was held. At the aforementioned Meeting, among other items, it was resolved: • Absorb the negative unallocated results through: (i) the use of the account corresponding to Adjustments to Irrevocable Contributions for the total amount of Ps.8,387,942; (ii) the use of Irrevocable Contributions for the total amount of Ps.2,578,671. On April 19, 2024, an Ordinary Shareholders' Meeting of Tarjetas Regionales S.A. was held. At the aforementioned Meeting, among other items, it was resolved: • To distribute the unallocated results as follows: (i) to Legal Reserve the amount of Ps.1,134,672; (ii) to Optional Reserve for Future Profit Distributions the amount of Ps.21,558,775. • To set aside the amount of up to Ps.30,000,000 to be used for the Distribution of Cash Dividends for up to said amount. On April 23, 2024, an Ordinary Shareholders' Meeting of Inviu S.A.U. was held. At the aforementioned Meeting, among other items, it was resolved: • To distribute the unallocated results as follows: (i) to Legal Reserve the amount of Ps.42,349; (ii) to Optional Reserve for Future Profit Distributions the amount of Ps.804,635. On April 25, 2024, an Ordinary Shareholders' Meeting of Agri Tech Investments Argentina S.A.U. was held. At the aforementioned Meeting, among other items, it was resolved: • Absorb the negative unallocated results through: (i) the use of the account corresponding to Adjustments to Irrevocable Contributions for the total amount of Ps.901,177; (ii) the use of Irrevocable Contributions for the total amount of Ps.283,711. Business combination On April 09, 2024, Grupo Financiero Galicia S.A. ("Grupo Galicia") and its main subsidiary, Banco de Galicia y Buenos Aires S.A.U. ("Banco Galicia"), have entered into a share purchase agreement (the "Agreement") with HSBC Latin America B.V. ("HLA"), pursuant to which they will simultaneously acquire the stakes currently held directly by HLA at HSBC Argentina Holdings S.A., HSBC Participaciones (Argentina) S.A., and HSBC Bank Argentina S.A. (together with HSBC Argentina Holdings S.A. and HSBC Participaciones (Argentina) S.A., the "Direct Holdings"). Banco Galicia will be the buyer of 57.89% of the Direct Holdings, and Grupo Galicia will be the buyer of the remaining 42.11%. Therefore, Banco Galicia and Grupo Galicia simultaneously acquire, directly and indirectly, the 99.99383% of the equity capital and voting rights of HSBC Bank Argentina S.A. and 100.00% of HSBC Argentina Holdings S.A., HSBC Participaciones (Argentina) S.A., HSBC Global Asset Management S.A., HSBC Seguros de Vida (Argentina) S.A., and HSBC Seguros de Retiro (Argentina) S.A. For the acquisition of the aforementioned shares, Banco Galicia will pay the amount of USD 274,977,500, in accordance with the Agreement, and Grupo Galicia will pay with class B shares to be issued in favor of HLA (in the form of ADRs - American Depositary Receipts - "ADRs"), for an equivalent value of USD 200,022,500 (the "Consideration"). The issuance of Grupo Galicia's class B shares to be contributed in kind will be resolved by a Shareholders´ meeting of Grupo Galicia to be timely called. The Consideration is subject to adjustments based on parameters established in the Agreement, customary in this type of transactions. Likewise, pursuant to the Agreement, Grupo Galicia will acquire at a price of USD 75,000,000 the Private and Subordinated Negotiable Obligations issued by HSBC Bank Argentina S.A., with HSBC LATIN AMERICA HOLDINGS (UK) Limited as the creditor. These obligations have a maturity date in 2027 and a face value of USD 100,000,000, provided they are not previously prepaid. Said acquisition will also be paid with class B shares to be issued in favor of said creditor (in the form of ADRs - American Depositary Receipts -). |
Accounting Policies and Basis_2
Accounting Policies and Basis for Preparation (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of significant accounting policies [abstract] | |
BASIS FOR PREPARATION | BASIS FOR PREPARATION These consolidated financial statements have been prepared in accordance and in compliance with IFRS Accounting 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 March 4, 2024. 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. |
Going Concern | 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 | Measurement Unit IAS 29 “Financial Reporting in Hyperinflationary Economies” requires that the financial statements of an entity whose functional currency is that of a hyperinflationary economy be restated in terms of the current measurement unit as of the reporting period-end, irrespective of whether they are based on the historical cost or the current cost method. Accordingly, in general terms, non-monetary items should be adjusted for inflation occurring since the acquisition date or since the revaluation date, as the case may be. These requirements are also applicable to the comparative information reported in the financial statements. According to IAS 29, monetary assets and liabilities are not required to be restated, for they are stated in the measurement unit as of the end of the reporting period. Assets and liabilities subject to adjustments based on specific agreements will be adjusted on the basis of such agreements. Non-monetary items measured at their fair values at the end of the reporting period, such as net realizable value or otherwise, will not be restated. The other non-monetary assets and liabilities will be restated by applying a general price index. The income (loss) from the net monetary position will be charged to net income for the reporting period in a separate item. In order to conclude whether a given economy qualifies as hyperinflationary pursuant to the terms of IAS 29, the standard sets forth certain factors that should be considered, including a three-year cumulative inflation rate reaching or exceeding 100%. The Group has applied IAS 29, Financial Reporting in hyperinflationary Economy |
New Accounting Standards and amendments issued by the IASB that have not been adopted by the Group | New Accounting Standards The Group has applied the following standards for the first time as of January 1, 2023: Amendments to IAS 1 Presentation of Financial Statements, IFRS Practice Statement 2 and IAS 8 Accounting Standards, Changes in Accounting Estimates and Errors. Item The IASB amended IAS 1 Presentation of Financial Statements to require companies to disclose material accounting standards if its omission affects users' understanding of financial statements of other material information, rather than significant accounting standards. In support of this amendment, the Board also amended IFRS Practice Statement 2 Making Judgments Related to Materiality to provide guidance on how to apply the concept of materiality to accounting standard disclosures. Publication date February 2021 Effective date Fiscal year beginning on or after January 1, 2023. Impact It does not have a significant impact on the Group's financial statements. Amendments to IAS 12 - Deferred taxes related to assets and liabilities derived from a single transaction. Item These amendments require companies to recognize deferred taxes on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences. Publication date May 2021 Effective date Fiscal year beginning on or after January 1, 2023. Impact It does not have a significant impact on the Group's financial statements. Annual improvements - IFRS 11 and IFRS 15 IFRS 11 Disposal of Long-Lived Assets and Discontinued Operations and NIF C-11, Stockholders' Equity: It incorporates the accounting treatment in the event that in a distribution of dividends or capital reimbursement through long-lived assets there is a difference between the book value of the long-lived assets held to distribute to owners that will be used to settle said transaction and the liability recognized on the date that the dividends or capital reimbursements are settled. Item IFRS 15 Translation of Foreign Currencies: Modifies the practical solution to not translate the financial statements from the recording currency to the functional currency, in order to be precise and make it clearer that in the event that they do not have subsidiaries or controllers, they must also meet the requirement of not having users who require the financial statements considering the effects of the translation to the functional currency. Publication date March 2023. Effective date As of January 2023. Impact It does not have a significant impact on the Group's financial statements. IAS 33 - Earnings per Share Item Establishes rules for calculating and presenting basic earnings per share (EPS), both in ordinary and dilution situations. Certain aspects related to preferred dividends are clarified and indications are given on how to determine if certain financial instruments are dilutive or not for the EPS calculation. Additionally, it is specified that the shares issued for the translation of a financial instrument must be considered in the calculation of the basic EPS from the date the corresponding contract is signed. Publication date March 2023. Effective date As of January 2023. Impact It does not have a significant impact on the Group's financial statements. IFRS 17 “Insurance contracts.” Item It provides a comprehensive, principles-based framework for the measurement and presentation of all insurance contracts. The new standard will replace IFRS 4 “Insurance contracts” requires an entity to recognize the profit of a group of contracts throughout the period in which the entity provides the services, and as the entity is released from risk. If a group of contracts contains or becomes loss-producing, the entity is required to immediately recognize those losses. The standard also requires that income from insurance ordinary activities, insurance service expenses and insurance finance income or expenses be presented separately. Publication date May 2017, with modifications in June 2020 and December 2021. Effective date 1st. January 2023. Impact As of the date of adoption, it resulted in a decrease in equity and net income of Ps.67,239 (Ps.209,387 expressed in closing currency). On January 1, 2023, the Group adopted IFRS 17 ‘Insurance Contracts’. As required by the Standard, the Group applied the requirements retrospectively as from the transition date (January 1, 2022) with comparative data for periods before the transition date presented as previously published under IFRS 4 ‘Insurance Contracts’. IAS 1 ‘Presentation of Financial Statements’ requires that a third statement of financial position as of the transition date of January 1, 2022 to be disclosed, since the impact of the application is not material the Group decided not to present such statement. The Group has determined that reasonable and supportable information was available for all contracts in force at the transition date. Accordingly, the Group has: identified, recognized and measured each group of insurance contracts and each insurance acquisition cash flows asset in this category as if IFRS 17 had always applied; derecognized any existing balances that would not exist if IFRS 17 had always applied; and recognized any resulting net difference in equity. At the transition date, the implementation of this Standard was not material for the Group. (d) 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, 2023, and have not been early adopted by the Group: Amendments to IAS 1 - Presentation of Financial Statements on the Classification of Liabilities. Item The amendments to IAS 1 clarify that liabilities will be classified as current or non-current depending on the rights that exist at the end of the reporting period. This classification is not affected by the entity's expectations or events that occurred after the reporting date, it also clarifies what IAS 1 refers to when it refers to the “settlement” of a liability. Publication date November 2022. Effective date As of January 2024. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. Amendments to IFRS 16 - Leaseback. Item These amendments include requirements for leaseback transactions in IFRS 16 in order to explain how an entity accounts for a leaseback after the transaction date. Leaseback transactions where some or all of the lease payments are variable payments that do not depend on an index or rate are likely to be affected. Publication date September 2022. Effective date As of January 2024. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. Amendments to IAS 7 and IFRS 7 - Disclosures about Supplier Financing Arrangements (SFAs) Item These amendments include specific disclosures about vendor financing arrangements (SFAs) in order to assess how they affect an entity's liabilities, cash flows, and liquidity risk. As well as to increase the transparency of these agreements. Publication date May 2023. Effective date As of January 2024. Impact No significant impact on the Group's financial statements. Amendments to IAS 21 - Lack of Exchangeability Item The amendment provides guidance for entities to apply a consistent approach to the assessment of whether a currency is convertible at the measurement date and for a specific purpose, and if not, the determination of the exchange rate to be used for measurement purposes and the disclosures to be provided in their financial statements. A currency is convertible when there is the possibility of exchanging it for another currency, with normal administrative delays, and the transaction occurs through markets or exchange mechanisms that create enforceable rights and obligations. Publication date August 2023. Effective date As of January 2025. Impact It is estimated that the application of this standard does not have a significant impact on the Group's financial statements. |
CONSOLIDATION | 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, 2023. The accounting policies applied by Sudamericana Holding SA. are established by the National Insurance Superintendency and have been adjusted to those applied by the Group in preparing its consolidated financial statements. Intercompany transactions, balances and unrealized gains on transactions between Group’s companies were eliminated. See Note 51. Non-controlling interest in the results and equity of consolidated subsidiaries are shown separately in the consolidated statement of income, consolidated statement of other comprehensive income, consolidated statement of changes in shareholder’s equity and consolidated statement of financial position, respectively. In accordance with the provisions of IFRS 3 “Business combinations”, the acquisition method is used to account for the acquisition of subsidiaries. The identifiable assets and liabilities acquired, and contingent liabilities assumed in a business combination are measured at their fair values on the acquisition date. Goodwill is measured as the excess of the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and, in a business combination achieved in stages, the fair value of the acquirer’s previously held equity interest in the acquiree; over the net of the acquisition date amounts of the identifiable assets acquired and the liabilities assumed. |
TRANSACTIONS WITH THE NON-CONTROLLING INTEREST | TRANSACTIONS WITH NON-CONTROLLING INTEREST The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognized within equity attributable to owners of the Group. |
ASSOCIATES | 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 | 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. |
FOREIGN CURRENCY TRANSLATION | 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, 2023, and December 31, 2022, balances in U.S. Dollars were translated at the reference exchange rate (Ps.808.48 and Ps.177.13, 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 | CASH AND DUE FROM BANKS The item Cash and Due from Banks includes the available cash and bank deposits freely available, which are 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 | 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 and bonds. Classification As established by IFRS 9, the Group classifies financial assets according to how they are subsequently measured: at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss, based on: • the Group’s business model to manage financial assets; and • the characteristics of contractual cash flows of the financial asset. Business Model The Business Model refers to the way in which the Group manages a set of financial assets to reach a specific business objective. It represents the way the Group manages its financial instruments to generate cash flows. Business models that the Group can follow are listed below: • Hold the instruments to collect its contractual cash flows; • Hold the instruments in the portfolio to collect contractual cash flows and, in turn, sell them when deemed convenient; or; • Hold the instruments for trading. The Group’s Business Model does not depend on the intentions that it may have for an individual instrument. Therefore, this condition is not an instrument-by-instrument classification approach, but it is determined from a higher level of aggregation. The Group only reclassifies an instrument when, and only when, the business model for managing financial assets is modified. 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 and capital; 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 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 comprise: • 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 amount. These financial instruments are initially recognized at fair value and any gain o loss is recognized in the statement of income as they are realized. The Group classifies a financial instrument as held for trading if it is acquired or incurred for the main purpose of selling or repurchasing it in the short term, or if it is part of a portfolio of financial instruments that are jointly managed and for which there is evidence of short-term earnings, or is a derivative financial instrument not designated as a hedging instrument. Derivative instruments and held-for-trading securities are classified as held for trading and measured at fair value. 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 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: |
DERIVATIVE FINANCIAL INSTRUMENTS | 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 | REPURCHASE TRANSACTIONS Reverse Repurchase Transactions According to the derecognition principles in IFRS 9, these transactions are considered as secured borrowings, since the risk has not been transferred to the counterpart. Financing granted through reverse repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset received as collateral. At the closing of each month, accrued interest receivable is imputed to the “Repurchase Transactions” account with offsetting entry in “Interest Income”. The underlying assets received for the reverse repurchase transactions will be recorded in Off-Balance Sheet Items. The assets received that have been sold by the Group are not deducted, but derecognized only when the repo transaction finishes, recording a liability in kind for the obligation to deliver the security sold. Repurchase Transactions Financing received through repurchase transactions are recorded under “Repurchase Transactions” accounts, classified by counterparty and considering the asset pledged as collateral. In these transactions, when the receiver of the underlying asset obtains the right to sell it or pledge it as collateral, this is reclassified to the “Financial Assets Pledged as Collateral” accounts. |
EXPECTED CREDIT LOSS ALLOWANCE | EXPECTED CREDIT LOSS ALLOWANCE 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. |
LEASES | LEASES 1.12.1. Lease activities of the Group The Group is the lessee of various properties to be used in its ordinary course of business. Lease contracts are generally made for fixed periods, from 1 to 20 years, but in some cases, there may be price agreements for shorter periods with extension options. Lease terms are individually negotiated and contain a wide range of different terms and conditions. From January 1, 2019, leases are recognized as a right-of-use asset and a corresponding liability, on the date at which the leased asset is available for use by the Group. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance fixed payments), less any lease incentives receivable; • variable lease payments based on an index or a rate, initially measured using the index or rate on the initial date; • amounts expected to be payable by the lessee under residual value guarantees; • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease, if it can be determined; or otherwise, the Group’s incremental borrowing rate will be applied, which is the rate that the lessee would have to pay to borrow the necessary funds to obtain an asset of similar value to the right-of- use asset, in a similar economic environment with similar terms, security and conditions. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period, to produce a constant, periodic interest rate on the remaining balance of the liability for each period. Right-of-use assets are measured at their cost, comprising the following: • the amount of the initial measurement of the lease liability; • any lease payment made on or before the initial date, less any lease incentives received; • any initial direct cost; and • restoration and dismantling costs. Right-of-use assets are depreciated over the shorter of the asset useful life and the lease term on a straight-line method. Payments related to short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less that do not contain a bargain purchase option. Low-value assets are mainly small physical spaces to place equipment which are owned by the Bank. 1.12.2. Extension and Termination Options |
PROPERTY, PLANT AND EQUIPMENT | 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. |
INTANGIBLE ASSETS | 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. |
ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS | ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS 1.15.1. Assets Held for Sale The assets, or group of assets, classified as available for sale in accordance with the provisions of IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations,” will be disclosed separately from the rest of the assets. Non-current assets or disposal groups (including the loss of control over a subsidiary) are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. In order for an asset to be classified as held for sale, it must meet the following conditions: • it must be available for immediate sale in its current condition; • Management must be committed to a plan to sell the asset and must have initiated an active program to locate a buyer and complete the plan; • the asset must be actively marketed for sale at a reasonable price in relation to its current fair value; • the sale is expected to be completed within 12 months from its reclassification date; and • it is unlikely that the plan will be significantly changed or withdrawn. The assets, or groups of assets, classified as held for sale in accordance with the provisions of IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”, are measured at the lower of their carrying amount and fair value less costs to sell and are restated in accordance with Note 22. Non-current assets (including those that are part of a disposal group) are not depreciated or amortized while they are classified as held for sale 1.15.2. Discontinued Operations A discontinued operation is a component of the Group that has been disposed of, or that has been classified as held for sale, and complies with any of the following conditions: • it represents line of business or a geographical area, which is significant and can be considered as separated from the rest; • it is part of a single coordinated plan to have a business line, or geographical area of the operations which is significant and can be considered as separated from the rest; or • it is an independent entity exclusively acquired to resell it. |
IMPAIRMENT OF NON-FINANCIAL ASSETS | IMPAIRMENT OF NON-FINANCIAL ASSETS Assets with indefinite useful life are not subject to amortization and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or, at least, on an annual basis. |
TRUST ASSETS | 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 | 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 | FINANCING RECEIVED FROM THE ARGENTINE CENTRAL BANK AND OTHER FINANCIAL INSTITUTIONSThe amounts owed to other Financial Institutions are recorded at the time the principal is disbursed to the Group. Non-derivative financial liabilities are measured at amortized cost. If the Group repurchases its own debt, this is eliminated from the consolidated financial statements, and the difference between the residual value of the financial liability and the amount paid is recognized as a financial income or expense. |
PROVISIONS AND CONTINGENCIES | PROVISIONS AND CONTINGENCIES In accordance with IFRS a provision will be recognized when: a. an Entity has a current obligation (either legal or implicit) as a consequence of a past event; b. it is probable that an outflow of resources embodying future economic benefits will be required to settle the obligation; and c. the amount can be reliably estimated. It will be understood that the Group has an implicit obligation if (a) as a result of previous practices or public policies, the Group has assumed certain liabilities; and (b) as a result, it has created expectations that it will comply with those obligations. The Group recognizes the following provisions: • For labor, civil, and commercial lawsuits: provisions are determined based on the lawyers’ reports on the status of the lawsuits and the estimate made on the bankruptcy possibilities to be faced by the Group, as well as on past experience regarding this type of lawsuits. • For miscellaneous risks: provisions are set up to face contingent situations that may give rise to obligations for the Group. When estimating the amounts, the probability of their materializing is taken into account, considering the opinion of the Group’s legal advisors and professionals. The amount recognized as provision must be the best estimate of the disbursement needed to cancel such obligation, at the end of the year being reported. When the financial effect produced by the discount becomes important, the amount of the provision must be the present value of the disbursements that are expected to be required to cancel the obligation by using a pre-tax interest rate that reflects the current market conditions on the value of money and the specific risks for such obligation. The increase in the provision for the lapsing of time would be recognized in the Net Financial Income item of the Statement of Income. The Group will not record the positive contingencies, except those arising from deferred taxes and those which materialization is virtually certain. |
OTHER NON-FINANCIAL LIABILITIES | OTHER NON-FINANCIAL LIABILITIES Non-financial accounts payable are accrued when the counterparty has complied its contractual obligations under the contract, and they are measured at amortized cost. |
DEBT SECURITIES AND SUBORDINATED DEBT SECURITIES | 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 AND REINSURANCE CONTRACTS | ASSETS AND LIABILITIES ARISING FROM INSURANCE AND REINSURANCE CONTRACTS On January 1, 2023, the Group adopted IFRS 17 ‘Insurance Contracts’. For more information about the adoption and transition processes see note 1.1.c). Insurance contracts Insurance contracts are contracts under which the Group accepts significant insurance risk from a policyholder by agreeing to compensate the policyholder if a specific uncertain future event adversely affects the policyholder. In making this assessment, all material rights and obligations, including those arising from laws or regulations, are considered on a contract-by-contract basis. The Group uses its judgment to assess whether a contract transfers insurance risk (i.e., whether there is a scenario with commercial substance in which the Group has the possibility of a loss on a present value basis) and whether the insurance risk accepted is significant. Separation of components Contracts that have a legal form of insurance but do not transfer significant insurance risk and expose the Group to financial risks are classified as investment contracts and follow the accounting for financial instruments under IFRS 9. The Group has assessed whether its contracts accept significant insurance risk from another party by agreeing to compensate the insurance policyholder if an uncertain future event occurs that adversely affects it. From this assessment it has been concluded that all insurance contracts that were under the scope of IFRS 4 meet the definition of an insurance contract and therefore the introduction of IFRS 17 does not result in any reclassification. Aggregation level The grouping of contracts in units of account is made according to the types of products, onerousness and year of underwriting; since they have similar risks, they are managed together and no portfolio of contracts may contain contracts issued more than one year apart. The Group classifies a portfolio of insurance contracts as onerous or non-onerous based on the expected profitability at the policy or contract level at the time of recognition. Recognition of insurance and reinsurance contracts IFRS 17 includes three measurement models, reflecting a different degree of policyholder involvement in the investment performance or overall performance of the insurance entity: the General Measurement Model (GMM, also known as the Building Block Approach (BBA)), the Variable Fee Approach (VFA) and the Premium Allocation Approach (PAA). Measurement of Insurance and Reinsurance Contracts General Model In the measurement of contracts that include discretionary contractual features of policyholder participation, the Group has defined to apply the modified BBA Model. This method will be applied to the following units of account: Long-term Individual Life, Endowment, Retirement, USD Retirement and Provisional Annuity. The amount of contracts valued following the general model (BBA) is residual in the group. The General Model requires that insurance contracts be initially valued for the total of: a. fulfillment cash flows, which comprise the estimation of future cash flows discounted to reflect the time value of money, the financial risk associated, and a risk adjustment for non-financial risk that would represent the compensation required for the uncertainty associated with the amount and timing of the expected cash flows; b. and the contractual service margin (CSM), which represents the expected unearned profit from insurance contracts, which will be recognized in the entity’s income statement as the service is provided in the future, instead of being recognized at the time of the estimation. Simplified Model For the remaining insurance contracts issued by the Group, the Simplified Model has been applied since the remaining hedge liability of such contracts has a coverage period of one year or less, or in those contracts with a duration of more than one year, a material valuation other than the General Model is not expected to occur. Under the simplified approach, the Group assumes that such contracts are not onerous at initial recognition, unless facts and circumstances indicate otherwise. If facts and circumstances indicate that some contracts are onerous, an additional assessment is made to distinguish onerous from non-onerous contracts. For non-onerous contracts, the Group assesses the likelihood of changes in the applicable facts and circumstances in subsequent periods to determine whether the contracts have a significant possibility of becoming onerous. Under this model, the remaining hedge liability consists of the premiums received (collected), less the insurance acquisition cash flows paid, plus or minus the allocation to income of the premiums or expected acquisition cash flows, respectively. The allocation to income is made on a straight-line basis over the period of coverage of the contract, in the event that the accrual of income is also straight-line. The Group has chosen to defer acquisition costs, although there is an option to recognize such costs as they are incurred. The Group does not adjust the remaining hedge liability for insurance contracts issued for the effect of the time value of money because the insurance premiums expire within the coverage period of the contracts, which is one year or less. Groups of contracts measured under the simplified model have an incurred claims liability calculated in a manner similar to that of the General Model. For contracts measured under the simplified method, the incurred claims liability is measured similarly to the measurement under the general model. Future cash flows are adjusted for the time value of money, as certain insurance contracts issued by the Group and measured under the PAA typically have a settlement period longer than one year. In addition, the risk adjustment for non-financial risk is applied to the present value of estimated future cash flows and reflects the compensation the Group requires for bearing the uncertainty about the amount and timing of non-financial risk cash flows as the Group fulfills insurance contracts. Discount rate IFRS 17 requires a measurement of the present value of future cash flows, for which it is necessary to define discount rates that reflect the time value of money. Without precise guidelines, the standard refers to bottom-up and top-down approaches, respectively. The bottom-up approach is based on a risk-free curve to which an illiquidity premium is added; the top-down approach is based on a measure of return on a linked portfolio of assets, from which the associated credit risk is subtracted. The Group has defined a methodology for the determination of discount rates, taking into account the general indications of the standard. The Group used the following yield curves to discount the cash flows: Year/Quarter Q1 Q2 Q3 Q4 2024 74.0 % 30.0 % 13.1 % 9.0 % 2025 10.9 % 9.0 % 9.1 % 9.6 % 2026 7.0 % 7.0 % 7.0 % 7.0 % 2027 5.5 % 5.5 % 5.5 % 5.5 % 2028 5.5 % 5.5 % 5.5 % 5.5 % Risk margin The risk adjustment for non-financial risk is the compensation the Group requires for bearing the uncertainty about the amount and timing of cash flows arising from insurance risk and other non-financial risks such as lapse risk and expense risk. It measures the degree of variability of expected future cash flows and the Group's specific price for assuming that risk and reflects the Group's degree of risk aversion. The resulting risk adjustment corresponds to a confidence level of 64% for Galicia Seguros S.A.U. and 67% for Sudamericana Seguros Galicia SA. (formerly Seguros Sura S.A.). Reinsurance In general, the Group values reinsurance contracts under the Simplified Model, valuing the asset for remaining coverage of contracts with a coverage period equal to or less than one year, or in those contracts with a duration of more than one year, but which are not expected to result in a valuation significantly different from that of the General Model. This method also includes the asset for claims incurred. Insurance service results Insurance revenue reflects the consideration to which the Group expects to be entitled in exchange for the provision of coverage and other insurance contract services. Insurance service expenses comprise claims incurred and other insurance service expenses incurred, and losses on onerous groups of contracts and reversals of such losses. The Group applies the accounting policy set out in IFRS 17.86 and presents the financial performance of groups of reinsurance contracts held on a net basis in net income (expense) from reinsurance contracts held. As a general rule, for the presentation of financial income or expense from insurance contracts arising as a result of the effect of the time value of money and the effect of financial risk disclosed in "Other Operating Expenses", the Group does not disaggregate changes in the risk adjustment for non-financial risk between insurance service result and insurance financial income or expense. The Group includes all insurance financial income or expense for the period in profit or loss. |
SHAREHOLDERS' EQUITY | 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”. |
PROFIT RESERVES | 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 required to allocate to Legal Reserve 20% of the profits for the year, net of the eventual |
DIVIDENDS DISTRIBUTION | 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 | REVENUE RECOGNITION Financial income and expenses are recorded for all debt instruments according to the effective interest rate method, by which all gains and losses that are an integral part of the effective interest rate of the transaction are deferred. The income included in the effective interest rate includes disbursements or income related to the creation or acquisition of a financial asset or liability, such as, for example, the preparation and processing of the documents necessary to conclude the transaction and the compensation received by the granting of credit agreements. The Group records all its non-derivative financial liabilities at amortized cost, except those included in the item “Liabilities at Fair Value through Profit or Loss” which are measured at fair value. Fees received by the Group for the origination of syndicated loans are not part of the effective interest rate of the product and are recognized in the statement of income at the time the service is provided, to the extent the Group does not retain part of it, or this is maintained in the same conditions as the rest of the participants. Commissions and fees earned by the Group on negotiations in third parties’ transactions are not part of the effective interest rate either, and are recognized at the time the transactions are executed. IFRS 15 establishes the principles that an entity shall apply to recognize revenue and cash flows from contracts with customers. The amount that should be recognized will be the amount that reflects the consideration to which the entity expects to be entitled in exchange for the services delivered to customers. The Group’s income from services is recognized in the statement of income to the extent the performance obligations are complied with, thus deferring those revenues related to customer loyalty programs, which are provisioned based on the fair value of each point and its redemption rate, until they are exchanged by the customer and can be recognized in the income for the year. Retail product and service fees related to savings and checking account operations have a monthly charging frequency; safe deposit boxes fees are charged quarterly; renewal of credit cards is charged annually, and bond and shares transactions are charged at the time the transactions are executed. Additionally, fees for wholesale products corresponding to maintenance of accounts, deposits and withdrawals between entities, are charged on a monthly basis; foreign trade transactions are charged at the time the transactions are executed. Below is a summary of the main commissions earned by the Bank: Commissions Earning Frequency Retail Products and Services Savings Accounts Monthly Checking Accounts Monthly Credit-card Renewal Annual Safe Deposit Boxes Quarterly Bonds and Shares Transactions On each transaction Wholesale Products Account Maintenance Monthly Deposits and Withdrawals among Branches Monthly Foreign Trade Transactions On each transaction |
INCOME TAX | INCOME TAX The Income tax expense for the year comprises the current and the deferred taxes. Income tax is recognized in the 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. |
EARNINGS PER SHARE | 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. |
FAIR VALUE OF LEVEL 3 FINANCIAL INSTRUMENTS | 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 THE EXPECTED CREDIT LOSS ALLOWANCE | VALUATION OF THE EXPECTED CREDIT LOSS ALLOWANCE The Group records the allowance for loan losses under the expected credit losses (ECL) method included in IFRS 9. The most significant judgments of the model relate to making assumptions about macroeconomic scenarios to determine the forward looking factor. 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 | IMPAIRMENT OF NON-FINANCIAL ASSETS Intangible assets with finite useful lives and property, plant and equipment are amortized or depreciated on a straight-line basis during their estimated useful life. The Group monitors the conditions related to these assets to determine whether the events and circumstances require a review of the remaining amortization or depreciation term, and whether there are factors or circumstances indicating impairment in the value of the assets that cannot be recovered. |
INCOME TAX AND DEFERRED TAX | 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. 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. |
Accounting Policies and Basis_3
Accounting Policies and Basis for Preparation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of significant accounting policies [abstract] | |
Summary of Yield Curves | The Group used the following yield curves to discount the cash flows: Year/Quarter Q1 Q2 Q3 Q4 2024 74.0 % 30.0 % 13.1 % 9.0 % 2025 10.9 % 9.0 % 9.1 % 9.6 % 2026 7.0 % 7.0 % 7.0 % 7.0 % 2027 5.5 % 5.5 % 5.5 % 5.5 % 2028 5.5 % 5.5 % 5.5 % 5.5 % |
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, 2023 | |
Financial instruments [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 12.31.23 Fair Value Amortized Cost Fair Value Assets Cash and Due from Banks — 1,995,884,822 — Argentine Central Bank’s Bills (*) — 316,319,663 — Government Securities (*) 572,828,611 — — Corporate Securities (*) 25,966,254 — — Derivative Financial Instruments 35,290,286 — — Repurchase Transactions — 1,170,165,239 — Other Financial Assets 49,300,833 128,802,703 — Loans and Other Financing — 3,080,706,325 — Other Debt Securities (*) — 1,588,686,366 21,328,319 Financial Assets Pledged as Collateral 36,054,319 395,502,883 — Investments in Equity Instruments 9,637,518 — — Liabilities Deposits — 5,707,779,943 — Liabilities at fair value through profit or loss 49,485,078 — — Derivative Financial Instruments 12,238,747 — — Repurchase Transactions — 23,346,266 — Other Financial Liabilities — 1,273,329,296 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 138,128,699 — Debt Securities — 92,715,512 — Subordinated Debt Securities — 205,612,893 — (*) Recorded in Debt Securities at fair value trough profit or loss, except for Argentine Central Bank´s Bills at amortized cost that are recorded in Other debt securities. Portfolio of Instruments as of 12.31.22 Fair Value Amortized Cost Fair Value Assets Cash and Due from Banks — 1,393,686,854 — Argentine Central Bank’s Bills (*) 2,242,639,562 — — Government Securities (*) 220,650,695 — — Corporate Securities (*) 3,900,088 — — Derivative Financial Instruments 10,362,961 — — Repurchase Transactions — 359,750,280 — Other Financial Assets 32,881,802 141,558,441 — Loans and Other Financing — 3,871,626,785 — Other Debt Securities — 1,130,358,620 11,495,275 Financial Assets Pledged as Collateral 2,263,880 471,395,656 — Investments in Equity Instruments 6,972,539 — — Liabilities Deposits — 6,670,282,388 — Liabilities at fair value through profit or loss 243,592 — — Derivative Financial Instruments 5,275,600 — — Other Financial Liabilities — 1,086,252,228 — Financing Received from the Argentine Central Bank and Other Financial Institutions — 116,684,862 — Debt Securities — 209,587,705 — Subordinated Debt Securities — 141,394,653 — (*) Recorded in Debt Securities at fair value trough profit or loss. |
Fair Values (Tables)
Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of fair value measurement of assets [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 12.31.23 Fair Value Fair Value Fair Value Assets Government Securities 571,896,244 932,367 — Corporate Securities 25,241,227 476,850 248,177 Derivative Financial Instruments 20,656 35,269,630 — Other Debt Securities 10,641,603 10,686,716 — Other Financial Assets 49,279,292 21,541 — Financial Assets Pledged as Collateral 36,054,319 — — Investments in Equity Instruments 2,709,730 — 6,927,788 Liabilities Liabilities at fair value through profit or loss (*) 49,485,078 — — Derivative Financial Instruments — 12,238,747 — Total 646,357,993 35,148,357 7,175,965 (*) They include the operations of obligations for operations with Government Securities of third parties. Portfolio of Instruments as of 12.31.22 Fair Value Fair Value Fair Value Assets Argentine Central Bank’s Bills and Notes — 2,242,639,562 — Government Securities 215,084,330 5,566,365 — Corporate Securities 1,412,278 542,391 1,945,419 Derivative Financial Instruments 1,915 10,361,046 — Other Debt Securities 2,897,323 8,597,952 — Other Financial Assets 32,881,802 — — Financial Assets Pledged as Collateral 2,263,880 — — Investments in Equity Instruments 338,348 — 6,634,191 Liabilities Liabilities at fair value through profit or loss (*) 243,592 — — Derivative Financial Instruments — 5,275,600 — Total 254,636,284 2,262,431,716 8,579,610 (*) Include the operations of obligations for operations with Government Securities of third parties. |
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 12.31.22 Transfers(*) Recognition Derecognition Income Inflation 12.31.23 Government Securities — 2,749,897 1,062,060 (4,985,512) 1,600,754 (427,199) — Corporate Securities 1,945,419 1,856,416 9,933,303 (9,540,392) 1,349,458 (5,296,027) 248,177 Investments in Equity Instruments 6,634,191 — 803,936 (2,606,782) 10,240,161 (8,143,718) 6,927,788 Total 8,579,610 4,606,313 11,799,299 (17,132,686) 13,190,373 (13,866,944) 7,175,965 (*) Include the movements of levels of financial instruments classified as fair value Level 3, as described above. Level 3 12.31.21 Transfers(*) Recognition Derecognition Income Inflation 12.31.22 Government Securities 10,480,898 (5,047,541) 4,304,669 (9,183,047) 3,756,809 (4,311,788) — Corporate Securities 2,051,529 1,731,744 5,149,409 (7,522,945) 816,028 (280,346) 1,945,419 Other Financial Assets 33,880,513 — — (17,393,070) — (16,487,443) — Investments in Equity Instruments 7,202,470 — — — 4,035,753 (4,604,032) 6,634,191 Total 53,615,410 (3,315,797) 9,454,078 (34,099,062) 8,608,590 (25,683,609) 8,579,610 (*) 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 12.31.23 Book Value Fair Value Fair Value Fair Value Fair Value Assets Cash and Due from Banks 1,995,884,822 1,995,884,822 1,995,884,822 — — Repurchase Transactions 1,170,165,239 1,170,165,239 1,170,165,239 — — Loans and Other Financing 3,080,706,325 3,084,867,731 — — 3,084,867,731 Other Financial Assets 128,802,703 136,564,439 101,665,092 — 34,899,347 Other Debt Securities (*) 1,905,006,029 1,905,434,511 1,610,412,185 26,543,350 268,478,976 Financial Assets Pledged as Collateral 395,502,883 395,560,476 395,560,476 — — Liabilities Deposits 5,707,779,943 5,708,459,474 — — 5,708,459,474 Repurchase Transactions 23,346,266 23,346,266 — — 23,346,266 Financing Received from the Argentine Central Bank and Other Financial Institutions 138,128,699 137,743,790 — — 137,743,790 Debt Securities 92,715,512 91,166,210 75,714,905 — 15,451,305 Subordinated Debt Securities 205,612,893 201,085,205 — — 201,085,205 Other Financial Liabilities 1,273,329,296 1,272,854,309 — — 1,272,854,309 (*) Includes Argentine Central Bank´s Bills for the sum of Ps.316,319,663. Items of Assets/Liabilities as of 12.31.22 Book Value Fair Value Fair Value Fair Value Fair Value Assets Cash and Due from Banks 1,393,686,854 1,393,686,854 1,393,686,854 — — Repurchase Transactions 359,750,280 359,750,280 359,750,280 — — Loans and Other Financing 3,871,626,785 3,882,225,090 — — 3,882,225,090 Other Financial Assets 141,558,441 145,866,952 120,896,437 — 24,970,515 Other Debt Securities 1,130,358,620 1,109,609,241 — — 1,109,609,241 Financial Assets Pledged as Collateral 471,395,656 471,395,656 471,395,656 — — Liabilities Deposits 6,670,282,388 6,670,131,209 — — 6,670,131,209 Financing Received from the Argentine Central Bank and Other Financial Institutions 116,684,862 115,342,645 — — 115,342,645 Debt Securities 209,587,705 205,194,182 185,328,632 — 19,865,550 Subordinated Debt Securities 141,394,653 139,132,579 — — 139,132,579 Other Financial Liabilities 1,086,252,228 1,085,225,226 — — 1,085,225,226 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [abstract] | |
Summary of Cash and Cash Equivalents | Cash and cash equivalents break down as follows: 12.31.23 12.31.22 12.31.21 Net cash and Due from Banks (1) 1,995,884,822 1,393,686,854 1,440,233,266 Argentine Central Bank’s Bills and Notes Maturing up to 90 days (2) 26,543,350 2,242,639,562 1,101,389,597 Receivables from Active Passes (2) 1,160,625,855 358,375,689 1,228,501,588 Loans to Financial Institutions (3) 6,000,000 16,407,135 39,929,501 Overnight Placements in Foreign Banks (3) 17,579,519 78,447,226 34,065,960 Mutual Funds (4) 48,786,211 32,881,801 26,945,400 Time Deposits Maturing up to 90 days (5) 11,919,770 9,122,151 23,070,025 Total Cash and Cash Equivalents 3,267,339,527 4,131,560,418 3,894,135,337 (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 Debt Securities at Fair Value through Profit or Loss. (5) Included within Other Financial Assets. The reconciliation of financing activities as of December 31, 2023, 2022 and 2021 is presented below: Item Balances at 31.12.22 Cash flow payments Cash flow receipts Other movements Balances at 31.12.23 Lease Liabilities 23,902,091 (6,372,889) — 11,931,614 29,460,816 Debt Securities 209,587,705 (157,188,276) 75,020,756 (34,704,673) 92,715,512 Subordinated Debt Securities 141,394,653 — — 64,218,240 205,612,893 Financing Received from the Argentine Central Bank and Other Financial Institutions 116,684,862 (335,727,529) 373,779,755 (16,608,389) 138,128,699 Total 491,569,311 (499,288,694) 448,800,511 24,836,792 465,917,920 Item Balances at 31.12.21 Cash flow payments Cash flow receipts Other movements Balances at 31.12.22 Lease Liabilities 26,578,829 (8,331,048) — 5,654,310 23,902,091 Debt Securities 169,677,031 (124,998,913) 209,971,829 (45,062,242) 209,587,705 Subordinated Debt Securities 159,387,627 — — (17,992,974) 141,394,653 Financing Received from the Argentine Central Bank and Other Financial Institutions 143,882,388 (160,146,015) 233,677,686 (100,729,197) 116,684,862 Total 499,525,875 (293,475,976) 443,649,515 (158,130,103) 491,569,311 Item Balances at 31.12.20 Cash flow payments Cash flow receipts Other movements Balances at 31.12.21 Lease Liabilities 39,951,919 (10,531,399) — (2,841,691) 26,578,829 Debt Securities 156,330,866 (103,467,999) 144,871,361 (28,057,198) 169,677,031 Subordinated Debt Securities 198,262,734 — — (38,875,107) 159,387,627 Financing Received from the Argentine Central Bank and Other Financial Institutions 126,614,543 (107,656,543) 139,594,879 (14,670,491) 143,882,388 Total 521,160,062 (221,655,941) 284,466,240 (84,444,487) 499,525,875 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of Derivative Instrument Transactions | The amounts of transactions as of December 31, 2023, and 2022 are as follows: Underlying Asset Type of Settlement 12.31.23(*) 12.31.22(*) Currency Forward Transactions Purchases Foreign currency Daily difference 652,431,194 533,067,085 Sales Foreign currency Daily difference 590,737,106 416,301,506 Customers´ Purchases Foreign currency Daily difference 84,103,301 50,021,964 Customers´ Sales Foreign currency Daily difference 54,639,485 244,301,445 Repurchase Transactions Forward Purchases Government Securities With delivery of the underlying asset 23,566,922 — Forward Sales Government Securities With delivery of the underlying asset 1,205,775,644 392,985,152 Options Put options taken Government Securities With delivery of the underlying asset 2,464,070,256 781,066,913 Put options taken Foreign currency With delivery of the underlying asset — 116,093,355 (*) Notional values. |
Repurchase Transactions (Tables
Repurchase Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of repurchase transactions [Abstract] | |
Summary of Repo Transactions and Reverse Repo Transactions | As of the indicated dates, the Group maintains the following repurchase transactions: 12.31.23 12.31.22 Debtors for Reserve Repurchase Transactions of Government Securities 1,160,625,855 358,375,689 Interest Accrued Receivable for Reserve Repurchase Transactions 9,539,384 1,374,591 Total Repurchase Transactions—Assets 1,170,165,239 359,750,280 12.31.23 12.31.22 Creditors for Repurchase Transactions of Government Securities 23,189,189 — Interest Accrued Payable for Repurchase Transactions 157,077 — Total Repurchase Transactions—Liabilities 23,346,266 — |
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. 12.31.23 12.31.22 Reverse Repurchase Transactions recorded in Off-Balance Sheet Items 1,167,219,902 358,376,116 Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral 18,891,202 — |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other financial assets [abstract] | |
Summary of Other Financial Assets | As of the indicated dates, the balances of “Other Financial Assets” were as follows: 12.31.23 12.31.22 Receivables from Spot Sales of Foreign Currency Pending Settlement 11,631,346 3,598,798 Receivables from Spot Sales of Government Securities Pending Settlement 31,875,354 71,415,423 Sundry Debtors 68,945,190 58,019,662 Mutual Funds 49,245,412 32,881,801 Premiums from financial guarantee contracts 5,555,688 1,512,358 Interest accrued receivable 11,359,506 7,091,326 Fiduciary Participation Certificates 55,421 — Balances from claims pending recovery 3,924 48,885 Minus: Allowances (568,305) (128,010) Total 178,103,536 174,440,243 |
Summary of Credit Rating Quality Analysis of Other Financial Assets | The credit rating quality analysis of Other Financial Assets as of December 31, 2023, was as follows: Debtors Debtors for Sundry Mutual Premiums Interest Fiduciary participation certificates Balances Not yet due 11,631,346 31,875,354 68,908,835 49,245,412 5,555,688 11,359,506 55,421 3,924 Impaired/Uncollectible — — 36,355 — — — — — Allowances — — (568,305) — — — — — Total 11,631,346 31,875,354 68,376,885 49,245,412 5,555,688 11,359,506 55,421 3,924 |
Loans and Other Financing (Tabl
Loans and Other Financing (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of loans and other financing [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: 12.31.23 12.31.22 Non-financial Public Sector 460,847 4,000,190 Argentine Central Bank 40,796 11,466 Financial Institutions 27,298,507 42,528,958 Loans 27,298,507 42,528,958 Non-financial Private Sector and Residents Abroad 3,186,083,159 4,040,454,535 Loans 3,073,592,568 3,965,964,937 Advances 119,850,633 206,971,837 Notes 703,859,191 971,361,949 Mortgage Loans 37,915,833 60,415,652 Pledge Loans 45,092,352 79,761,541 Personal Loans 255,726,017 354,443,305 Credit Card Loans 1,706,968,422 2,025,688,014 Other Loans 49,632,674 117,074,306 Accrued Interest, Adjustments and Quotation Differences Receivable 167,597,009 166,990,268 Documented Interest (13,049,563) (16,741,935) Financial Leases 6,393,224 10,831,446 Other Financing 106,097,367 63,658,152 Less: Allowances (133,176,984) (215,368,364) Total 3,080,706,325 3,871,626,785 |
Financial Assets Pledged as C_2
Financial Assets Pledged as Collateral (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets pledged as collateral [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: 12.31.23 12.31.22 Deposits as Collateral 286,828,739 313,106,746 Special Accounts as Collateral—Argentine Central Bank 97,974,572 126,369,430 Forward Purchases of monetary regulatory instruments 46,761,090 34,682,973 Less: Allowances (7,199) (499,613) Total 431,557,202 473,659,536 |
Current Income Tax Assets (Tabl
Current Income Tax Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [abstract] | |
Summary of Current Income Tax Assets | As of the indicated dates, the balances of Current Income Tax Assets correspond to: 12.31.23 12.31.22 Tax Advances 2,045,887 1,277,544 Total 2,045,887 1,277,544 |
Equity Investments in Subsidi_2
Equity Investments in Subsidiaries, Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of subsidiaries [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 Equity Investment Company 12.31.23 12.31.22 12.31.23 12.31.22 Agri Tech Investments Argentina S.A.U. 199,937 199,937 100.00 % 100.00 % Agri Tech Investments LLC 1,180,032,017 199,997,240 100.00 % 100.00 % 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 — % 100.00 % Galicia Asset Management S.A.U. 20,000 20,000 100.00 % 100.00 % Galicia Broker Asesores de Seguros S.A. 71,310 71,308 99.99 % 99.99 % Galicia Capital US LLC 1,000 — 100.00 % — % Galicia Holdings US Inc. 1,000 — 100.00 % — % Galicia Investments LLC 10,237,394 — 100.00 % — % Galicia Retiro Compañía de Seguros S.A.U. 27,727,278 27,727,278 100.00 % 100.00 % Galicia Securities S.A.U. 95,392,000 95,392,000 100.00 % 100.00 % Galicia Seguros S.A.U. 18,308,870 18,308,870 100.00 % 100.00 % Galicia Ventures LP 350,371,489 — 100.00 % — % Galicia Warrants S.A. 1,000,000 1,000,000 100.00 % 100.00 % Nera Uruguay S.A. (formerly Halsiuk S.A.) (**) 40 — 100.00 % — % IGAM LLC 4,750,561,179 3,503,311,179 100.00 % 100.00 % INVIU S.A.U. 809,611,333 2,469,146 100.00 % 100.00 % INVIU Capital Markets Limited 1 — 100.00 % — % INVIU Technology Limited 1 — 100.00 % — % INVIU Uruguay Agente de Valores S.A. 40,000,000 40,000,000 100.00 % 100.00 % Naranja Digital Compañía Financiera S.A.U. 1,712,567,500 1,712,567,500 100.00 % 100.00 % Sudamericana Holding S.A. 32,717,429 185,653 100.00 % 100.00 % Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) (***) 4,512,697,946 — 99.43 % — % Tarjeta Naranja S.A.U. 2,896 2,824 100.00 % 100.00 % Tarjetas Regionales S.A. 1,756,704,458 1,756,704,458 100.00 % 100.00 % Well Assistance S.A.U. 100,000 100,000 100.00 % 100.00 % (*) Company absorbed by Tarjeta Naranja S.A.U. as from October 1, 2023. (**) As of the date of issuance of these financial statements, the process for the change of name is pending registration at the Registry of Legal Entities of the ROU. (***) As of the date of issuance of these financial statements, the process of change of name is pending approval by the Superintendence of Insurance of the Nation. |
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: 12.31.23 Company Assets Liabilities Shareholders’ Net Income (Loss) (*) Agri Tech Investments Argentina S.A.U. 2,787,696 904,641 1,883,055 (781,476) Agri Tech Investments LLC 1,303,364 — 1,303,364 (1,371,520) Banco de Galicia y Buenos Aires S.A.U. 8,662,949,001 7,011,484,525 1,651,464,476 281,633,788 Cobranzas Regionales S.A. (**) — — — (3,714,620) Galicia Asset Management S.A.U. 28,776,139 9,539,077 19,237,062 24,701,384 Galicia Broker Asesores de Seguros S.A. (***) 1,642,905 537,029 1,105,876 1,467,113 Galicia Capital US LLC 40,424 — 40,424 (15,658) Galicia Holdings US Inc. 40,432 40,424 8 4 Galicia Investments LLC 7,992 — 7,992 (7,201) Galicia Retiro Compañía de Seguros S.A.U. (***) 3,880,873 3,095,041 785,832 108,782 Galicia Securities S.A.U. 57,941,669 46,618,845 11,322,824 12,781,876 Galicia Seguros S.A.U. (***) 22,906,960 8,789,124 14,117,836 7,052,093 Galicia Ventures LP 799,228 — 799,228 220,112 Galicia Warrants S.A. 5,580,177 1,897,173 3,683,004 167,512 Nera Uruguay S.A. (formerly Halsiuk S.A.) (****) — 529 (529) 258 IGAM LLC 11,994,962 2,250 11,992,712 1,491,039 INVIU S.A.U. 49,930,173 42,180,270 7,749,903 558,616 INVIU Capital Markets Limited 18,206 17 18,189 9,403 INVIU Technology Limited 2,790 — 2,790 (2,460) INVIU Uruguay Agente de Valores S.A. 1,859,603 1,159,691 699,912 (372,663) Naranja Digital Compañía Financiera S.A.U. 245,802,363 230,814,027 14,988,336 (6,759,772) Sudamericana Holding S.A. (***) 32,504,862 2,489,822 30,015,040 11,660,967 Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) (*****) 159,225,575 143,563,039 15,662,536 455,197 Tarjeta Naranja S.A.U. 1,107,822,562 870,967,815 236,854,747 28,531,945 Tarjetas Regionales S.A. 274,378,940 11,334 274,367,606 15,440,229 Well Assistance S.A.U. (***) 554 3,321 (2,767) (2,767) ____________________ (*) Income attributable to the shareholders of the parent. (**) Net income for the nine-month period ended September 30, 2023. (***) Net income for the twelve-month period ended December 31, 2023. (****) Net income for the six-month period ended December 31, 2023. (*****) Net income for the three-month period ended December 31, 2023. 12.31.22 Company Assets Liabilities Shareholders’ Net Income (Loss) (*) Agri Tech Investments Argentina S.A.U. 922,371 248,385 673,986 19,338 Agri Tech Investments LLC 674,194 — 674,194 19,357 Banco de Galicia y Buenos Aires S.A.U. 9,131,354,980 7,569,680,665 1,561,674,315 (126,628,917) Cobranzas Regionales S.A. 12,601,303 2,556,644 10,044,659 (10,905,321) Galicia Asset Management S.A.U. 22,723,599 8,228,941 14,494,658 19,072,952 Galicia Broker Asesores de Seguros S.A. (**) 1,207,243 509,737 697,506 183,843 Galicia Retiro Compañía de Seguros S.A.U. (**) 3,770,057 3,091,618 678,439 181,703 Galicia Securities S.A.U. 16,479,976 10,224,949 6,255,027 4,482,657 Galicia Seguros S.A.U. (**) 36,416,717 22,306,927 14,109,790 7,422,669 Galicia Warrants S.A. 5,878,564 1,949,904 3,928,660 270,679 IGAM LLC 7,925,536 1,532 7,924,004 (7,826,988) INVIU S.A.U. 16,765,655 9,574,374 7,191,281 (7,499,677) INVIU Uruguay Agente de Valores S.A. 13,225,498 12,947,268 278,230 (241,241) Naranja Digital Compañía Financiera S.A.U. 100,603,593 89,709,327 10,894,266 (9,294,061) Sudamericana Holding S.A. (**) 16,350,623 40,190 16,310,433 7,495,557 Tarjeta Naranja S.A.U. 1,288,657,713 1,053,115,050 235,542,663 29,359,014 Tarjetas Regionales S.A. 266,029,478 22,867 266,006,611 3,420,330 Well Assistance S.A.U. (***) 311,408 — 311,408 — ____________________ (*) Income attributable to the shareholders of the parent. (**) Net income for the twelve-month period ended December 31, 2022. |
Summary of Investments in Associates | Company Equity Place of 12.31.23 12.31.22 Play Digital S.A. 15.69 CABA 2,650,357 2,076,371 The movements of such investment are as follows: Company 12.31.22 Contributions (1) Purchase of Profit Sharing 12.31.23 Play Digital S.A. 2,076,371 2,405,770 114,885 (1,946,669) 2,650,357 (1) Banco Galicia has made new contributions after the closing. Company 12.31.21 Contributions Sales of Profit Sharing 12.31.22 Play Digital S.A. 1,027,259 2,336,792 84,083 (1,371,763) 2,076,371 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’ Net Income Play Digital S.A. 16,255,518 6,276,551 9,978,967 (7,818,441) |
Summary of Assets and Liabilities from Acquisitions | The Assets and Liabilities arising from the acquisition are detailed below: Item Fair value Assets Cash and Due from Banks 2,556,085 Investments 76,867,608 Property, Plant and Equipment 2,369,457 Reinsurance Contract Assets 16,064,907 Other Assets 12,366,070 Total Assets 110,224,127 Liabilities Provisions 561,774 Insurance Contracts Liabilities 85,121,978 Other Liabilities 8,422,642 Total Liabilities 94,106,394 Net Assets 16,117,733 Minority Interest (91,245) Net Assets Acquired 16,026,488 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Presentation of leases for lessee [abstract] | |
Summary of information about lease asset and liabilities | Amounts recognized in the Statement of Financial Position: 12.31.23 12.31.22 Right-of-use asset (1) 17,775,586 23,021,193 Real estate 17,775,586 23,021,193 Lease Liabilities (2) (29,460,816) (23,902,091) (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 | Amounts recognized in the Statement of Income: 12.31.23 12.31.22 Charge for depreciation of right-of-use assets (1)(2) (6,760,728) (8,357,036) Interest Expenses (3) (3,404,429) (3,559,813) Expenses related to short-term leases (4) (111,323) (160,656) Expenses related to low-value assets leases (4) (521,042) (941,360) Sublease Income (5) 70,567 13,524 (1) Depreciation for right of use of Real Property. (2) Recorded in Depreciation Expenses, 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 assets and lease liabilities during the years 2023 and 2022 is as follows: Right-of-use assets 12.31.23 12.31.22 Balances at the beginning of the year 23,021,193 27,325,869 Additions 5,285,656 4,203,097 Cancellation of contracts (3,770,535) (150,737) Depreciation of the year (6,760,728) (8,357,036) Balances at the end of the year 17,775,586 23,021,193 Lease liabilities (1) 12.31.23 12.31.22 Balances at the beginning of the year 23,902,091 26,578,829 New contracts 5,285,656 4,203,097 Cancellation of contracts (3,770,535) (150,737) Lease payments (6,372,889) (8,331,048) Leases financial cost 3,404,429 3,559,813 Translation differences and inflation adjustment 7,012,064 (1,957,863) Balances at the end of the year 29,460,816 23,902,091 (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, 2023 | |
Deferred tax assets and liabilities [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, 2023, and December 31, 2022, are as follows: Deferred Tax Assets Item 12.31.22 Inclusions Charge to 12.31.23 Valuation of Securities 486,624 — 148,607,095 149,093,719 Loans and Other Financing 63,119,380 — (10,206,870) 52,912,510 Tax Loss Carryforwards 6,559,801 — (4,108,500) 2,451,301 Insurance Contract Assets 89,035 — 1,658,304 1,747,339 Other Non-financial Assets 4,991,731 — (4,991,731) — Other Financial Liabilities 1,419,433 — (716,352) 703,081 Provisions 16,085,895 1,608,703 (5,621,520) 12,073,078 Insurance Contracts Liabilities 17,878 — — 17,878 Reinsurance Contracts Liabilities — 13,666,440 10,182,580 23,849,020 Other Non-financial Liabilities 9,641,853 1,115,336 2,991,811 13,749,000 Foreign Currency Exchange Differences 19,855 — 80,161 100,016 Inflation adjustment deferral 9,135,996 304,556 (7,742,125) 1,698,427 Others 108,157 — (108,157) — Totals 111,675,638 16,695,035 130,024,696 258,395,369 Net deferred tax assets in subsidiaries with net liability position (88,986,340) — 20,344,480 (68,641,860) Deferred tax assets 22,689,298 16,695,035 150,369,176 189,753,509 Deferred Tax Liabilities Item 12.31.22 Inclusions Charge to 12.31.23 Valuation of Securities (29,812,256) 169,300 28,731,134 (911,822) Derivate Instruments (1,444,234) — 667,935 (776,299) Other Financial Assets (1,791,599) (1,476,458) (841,000) (4,109,057) Property, Plant and Equipment (45,011,191) (2,968,242) 8,248,597 (39,730,836) Intangible Assets (29,842,201) — (658,300) (30,500,501) Reinsurance Contract Assets — — (7,261,636) (7,261,636) Other Non-financial Assets (617,727) — 138,758 (478,969) Debt Securities (233,472) — 151,160 (82,312) Subordinated Debt Securities (28,217) — 24,105 (4,112) Reinsurance Contracts Liabilities — — (524,796) (524,796) Other Non-financial Liabilities (14,496) (58,249) 72,745 — Inflation adjustment deferral (16,380) — 11,542 (4,838) Others — (1,656,577) 44,559 (1,612,018) Totals (108,811,773) (5,990,226) 28,804,803 (85,997,196) Net deferred tax liabilities in subsidiaries with net asset position 88,986,340 — (20,344,480) 68,641,860 Deferred tax liabilities (19,825,433) (5,990,226) 8,460,323 (17,355,336) Deferred Tax Assets Item 12.31.21 Charge to 12.31.22 Valuation of Securities — 486,624 486,624 Derivative Instruments 103,680 (103,680) — Loans and other financing 100,351,686 (37,232,306) 63,119,380 Tax Loss Carryforwards 5,433,297 1,126,504 6,559,801 Insurance Contract Assets — 89,035 89,035 Other Non-financial Assets 1,343,836 3,647,895 4,991,731 Other Financial Liabilities — 1,419,433 1,419,433 Provisions 1,577,805 14,508,090 16,085,895 Insurance Contracts Liabilities — 17,878 17,878 Other Non-financial Liabilities 6,324,708 3,317,145 9,641,853 Foreign Currency Exchange Differences 86,988 (67,133) 19,855 Inflation adjustment deferral 37,834,512 (28,698,516) 9,135,996 Others 683,184 (575,027) 108,157 Totals 153,739,696 (42,064,058) 111,675,638 Net deferred tax assets in subsidiaries with net liability position (127,738,387) 38,752,047 (88,986,340) Deferred tax assets 26,001,309 (3,312,011) 22,689,298 Deferred Tax Liabilities Item 12.31.21 Charge to 12.31.22 Valuation of Securities (8,409,947) (21,402,309) (29,812,256) Derivative Instruments — (1,444,234) (1,444,234) Other Financial Assets (927,614) (863,985) (1,791,599) Property, Plant and Equipment (111,309,862) 66,298,671 (45,011,191) Intangible Assets (33,910,493) 4,068,292 (29,842,201) Other Non-financial Assets (1,304,307) 686,580 (617,727) Other Financial Liabilities (830,194) 830,194 — Debt Securities — (233,472) (233,472) Subordinated Debt Securities — (28,217) (28,217) Provisions (3,949,480) 3,949,480 — Other Non-financial Liabilities — (14,496) (14,496) Inflation adjustment deferral (34,460) 18,080 (16,380) Others (4,060) 4,060 — Totals (160,680,417) 51,868,644 (108,811,773) Net deferred tax liabilities in subsidiaries with net asset position 127,738,387 (38,752,047) 88,986,340 Deferred tax liabilities (32,942,030) 13,116,597 (19,825,433) |
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 Due Deferred Tax Assets 2019 137,507 2024 34,377 2020 397,219 2025 99,305 2021 2,897,666 2026 724,417 2022 6,210,115 2027 1,552,528 2023 147,850 2028 40,674 9,790,357 2,451,301 |
Assets_Liabilities for Insura_2
Assets/Liabilities for Insurance Contracts and Reinsurance Contracts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of types of insurance contracts [abstract] | |
Assets Related to Insurance and Reinsurance Contracts | Assets and Liabilities related to insurance and reinsurance contracts as of the indicated dates are detailed as follows: Total as Life Non Life 12.31.23 Insurance contract assets 1,517,255 8,304,412 9,821,667 Insurance contract liabilities (2,341,868) (103,358,664) (105,700,532) Reinsurance contract assets — 28,616,023 28,616,023 Reinsurance contract liabilities (458,584) (1,705,054) (2,163,638) Total as Life Non Life 12.31.22 Insurance contract assets 891,407 2,604,496 3,495,903 Insurance contract liabilities (3,948,374) (119,827) (4,068,201) Reinsurance contract assets 13,182 85,584 98,766 |
Assets and Liabilities Related to Insurance Contracts | 12.31.23 12.31.22 Insurance contract assets 9,821,667 3,495,903 Insurance contract liabilities (105,700,532) (4,068,201) Liabilities for remaining coverage 19,818,148 3,170,130 Estimates of the present value of cash flows (1,835,452) (2,258,020) Risk adjustment (86,981) (29,048) Cost service margin (1,277,382) (1,674,286) Premium reserve - Simplified Model 23,017,963 7,131,484 Liabilities for incurred claims (115,697,013) (3,742,428) Estimates of the present value of cash flows (113,944,858) (3,530,506) Risk adjustment (1,752,155) (211,922) Reinsurance contract assets 28,616,023 98,766 Reinsurance contract liabilities (2,163,638) — Liabilities for remaining coverage 4,320,414 (129,390) Premium reserve - Simplified Model 4,320,414 (129,390) Liabilities for incurred claims 22,131,971 228,156 Estimates of the present value of cash flows 22,065,757 217,982 Risk adjustment 66,214 10,174 LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening insurance contract assets 7,111,168 — (3,405,560) (209,705) 3,495,903 Opening insurance contract liabilities (1,652,784) — (2,384,150) (31,267) (4,068,201) Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) Insurance revenue 95,782,121 — — — 95,782,121 Incurred claims and other directly attributable expenses — — (49,243,616) 327,915 (48,915,701) Losses on onerous contracts and reversal of those losses — (426,180) — — (426,180) Insurance acquisition cash flows amortization (9,457,404) — — — (9,457,404) Insurance service expenses (9,457,404) (426,180) (49,243,616) 327,915 (58,799,285) Insurance service result 86,324,717 (426,180) (49,243,616) 327,915 36,982,836 IAS 29 + Finance expenses from insurance contracts held (5,436,169) — 1,559,550 85,937 (3,790,682) Total amounts recognized in comprehensive income 80,888,548 (426,180) (47,684,066) 413,852 33,192,154 Cash flows Premiums received (96,017,423) — — — (96,017,423) Claims and other directly attributable expenses paid — — 37,067,756 — 37,067,756 Insurance acquisition cash flows 15,572,924 — — — 15,572,924 Total cash flows (80,444,499) — 37,067,756 — (43,376,743) Acquisitions 16,264,862 — (99,374,824) (2,012,016) (85,121,978) Net balance as at December 31, 2023 22,167,295 (426,180) (115,780,844) (1,839,136) (95,878,865) Closing insurance contract liabilities 7,315,318 (41,949) (111,268,893) (1,705,008) (105,700,532) Closing insurance contract assets 14,851,977 (384,231) (4,511,951) (134,128) 9,821,667 Net balance as at December 31, 2023 22,167,295 (426,180) (115,780,844) (1,839,136) (95,878,865) LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening reinsurance contract assets (129,391) — 217,984 10,173 98,766 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 Reinsurance expenses (5,933,320) — — — (5,933,320) Incurred claims recovery — — 5,111,635 (5,122) 5,106,513 Loss recovery component — 187,009 — — 187,009 Net income (expenses) from reinsurance contracts held (5,933,320) 187,009 5,111,635 (5,122) (639,798) IAS 29 + Finance results from reinsurance contracts held 4,366,252 — 4,111,918 (6,907) 8,471,263 Total amounts recognized in comprehensive income (1,567,068) 187,009 9,223,553 (12,029) 7,831,465 Cash flows Premiums paid net of ceding commissions and other directly attributable expenses paid 3,780,114 — — — 3,780,114 Recoveries from reinsurance — — (1,322,867) — (1,322,867) Total cash flows 3,780,114 — (1,322,867) — 2,457,247 Acquisitions 2,049,750 — 13,947,087 68,070 16,064,907 Net balance as at December 31, 2023 4,133,405 187,009 22,065,757 66,214 26,452,385 Closing reinsurance contract liabilities (3,748,254) — 1,551,671 32,945 (2,163,638) Closing reinsurance contract assets 7,881,659 187,009 20,514,086 33,269 28,616,023 Net balance as at December 31, 2023 4,133,405 187,009 22,065,757 66,214 26,452,385 LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening insurance contract liabilities 4,657,387 — (4,933,710) — (276,323) Net balance as at December 31, 2021 4,657,387 — (4,933,710) — (276,323) Insurance revenue 69,488,357 — — — 69,488,357 Incurred claims and other directly attributable expenses — — (29,764,992) (240,972) (30,005,964) Insurance acquisition cash flows amortization 2,759,093 — — — 2,759,093 Insurance service expenses 2,759,093 — (29,764,992) (240,972) (27,246,871) Insurance service result 72,247,450 — (29,764,992) (240,972) 42,241,486 IAS 29 + Finance expenses from insurance contracts held (8,883,359) — 643,265 — (8,240,094) Total amounts recognized in comprehensive income 63,364,091 — (29,121,727) (240,972) 34,001,392 Cash flows Premiums received (64,412,277) — — — (64,412,277) Claims and other directly attributable expenses paid — — 28,265,727 — 28,265,727 Insurance acquisition cash flows 1,849,183 — — — 1,849,183 Total cash flows (62,563,094) — 28,265,727 — (34,297,367) Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) Closing insurance contract liabilities (1,652,784) — (2,384,150) (31,267) (4,068,201) Closing insurance contract assets 7,111,168 — (3,405,560) (209,705) 3,495,903 Net balance as at December 31, 2022 5,458,384 — (5,789,710) (240,972) (572,298) LRC LIC Excluding LC LC Present value of future cash flows Risk adj. for non-fin. risk Total Opening reinsurance contract assets 17,449 — 427,347 — 444,796 Opening reinsurance contract liabilities — — — — — Net balance as at December 31, 2021 17,449 — 427,347 — 444,796 Reinsurance expenses (2,525,629) — — — (2,525,629) Incurred claims recovery — — 349,007 10,173 359,180 Net income (expenses) from reinsurance contracts held (2,525,629) — 349,007 10,173 (2,166,449) IAS 29 + Finance results from reinsurance contracts held 130,807 — (248,965) — (118,158) Total amounts recognized in comprehensive income (2,394,822) — 100,042 10,173 (2,284,607) Cash flows Premiums paid net of ceding commissions and other directly attributable expenses paid 2,247,982 — — — 2,247,982 Recoveries from reinsurance — — (309,405) — (309,405) Total cash flows 2,247,982 — (309,405) — 1,938,577 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 Closing reinsurance contract assets (129,391) — 217,984 10,173 98,766 Net balance as at December 31, 2022 (129,391) — 217,984 10,173 98,766 |
Summary of Assumption Used for Current Estimates of Future Cash Flows Derived from Insurance Contract | Insurance liabilities were recorded using the current estimates of future cash flows derived from insurance contracts. The assumptions used are as follows: 12.31.23 12.31.22 Mortality Table 1983 Table A 1983 Table A Investment (Discount) Rate Products in US$: 4.64% annually Products in US$: 4.84% annually Products in Ps.: 181.38% annually Products in Ps.: 108.46% annually Life Insurance Reference Rate 75% of the projection of the BADLAR rate starting from 69.47% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. 75% of the projection of the BADLAR rate starting from 69.47% plus the correction according to Resolution 2020-321 of the Argentine Superintendency of Insurance. Administrative Expenses Ps.1.68 for voluntary retirement and Ps.11.34for annuities Ps.2.40 for voluntary retirement and Ps.14.80 for annuities |
Other Non-financial Assets (Tab
Other Non-financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Other Non Financial Assets [abstract] | |
Summary of Other Non-financial Assets | “Other Non-financial Assets” break down as follows: 12.31.23 12.31.22 Payments on behalf of third parties 5,998,743 5,886,564 Advances of fees to Directors and Syndics 18,507 32,025 Advances to Personnel 183,132 80,135 Tax Credits 16,000,772 18,851,330 Payments made in Advance 28,267,550 19,357,660 Advances for Purchase of Assets 4,169,213 13,565,810 Investment properties (*) 5,301,923 5,114,404 Other Sundry Assets Measured at Cost 12,014,604 10,130,371 Assets Taken in Defense of Credits 201,292 312,756 Contract Assets 2,460,362 1,158,866 Others 3,131,222 3,893,171 Total 77,747,320 78,383,092 ____________________ (*) 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, 2023 | |
Disclosure Of Noncurrent Assets Held For Sale And Discontinued Operations [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”: 12.31.23 12.31.22 Property, Plant and Equipment Real Estate 74,920 3,896 Total 74,920 3,896 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of deposits [abstract] | |
Summary of Deposits | Deposits break down as follows as of the indicated dates: 12.31.23 12.31.22 In Pesos 3,911,679,725 5,499,926,643 Checking Accounts 662,301,038 917,872,719 Savings Accounts 1,781,911,012 1,744,931,650 Time Deposits 975,440,751 2,454,589,851 Time Deposits – UVA 42,922,738 116,366,263 Others 305,057,594 126,619,593 Interest and Adjustments 144,046,592 139,546,567 In Foreign Currency 1,796,100,218 1,170,355,745 Savings Accounts 1,592,790,179 966,320,800 Time Deposits 185,017,661 182,175,988 Others 17,885,645 21,544,336 Interest and Adjustments 406,733 314,621 Total 5,707,779,943 6,670,282,388 |
Other Financial Liabilities (Ta
Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Other Financial Liabilities [abstract] | |
Summary of Other Financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 Creditors for Purchase to be Settled 16,673,813 76,002,542 Collections and Other Transactions on Behalf of Third Parties 130,990,555 78,993,734 Obligations for Purchase Financing 746,506,069 753,371,317 Creditors for Purchase of Foreign Currency to be Settled 36,472,776 62,429,578 Accrued Fees Payable 10,114,719 16,281,068 Sundry Items Subject to Minimum Cash 17,102,592 7,122,073 Sundry Items not Subject to Minimum Cash 277,484,655 34,222,473 Financial Liabilities for guarantees and sureties granted (financial guarantee contracts) 6,810,736 2,188,414 Cash or equivalents for purchases or cash sales to be settled 387,238 73,757 Lease Liabilities 29,460,816 23,902,091 Other Financial Liabilities 1,325,327 31,665,181 Total 1,273,329,296 1,086,252,228 |
Loans from the Argentine Cent_2
Loans from the Argentine Central Bank and Other Financial Institutions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [abstract] | |
Summary of Loans from the Argentina Central Bank and Other Financial Institutions | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 Argentine Central Bank Financing 192,903 307,770 Correspondents 1,014,393 6,020,955 Financing from Local Financial Institutions 102,022,880 93,374,358 Financing from Foreign Financial Institutions 31,064,893 11,366,560 Financing from International Financial Institutions 3,833,630 5,615,219 Total 138,128,699 116,684,862 |
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 Local Institutions BICE Sundry Dates Ps. 1668 days 84.90 Sundry Dates 4,852,344 BICE Sundry Dates US$ 1748 days 9.40 Sundry Dates 1,331,153 Agreements with Banks (1) Sundry Dates Ps. 234 days 133.10 Sundry Dates 94,611,433 Call Taken 12.29.23 Ps. 4 days 80.00 01.02.24 1,227,950 Argentine Central Bank 12.29.23 Ps. 4 days — 01.02.24 192,903 International Institutions Correspondents 12.29.23 US$ 4 days — 01.02.24 1,014,393 IFC Sundry Dates US$ 2266 days 8.50 Sundry Dates 2,694,944 Pre-financing Sundry Dates US$ 182 days 5.60 Sundry Dates 32,203,579 Total 138,128,699 (*) 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 Local Institutions BICE Sundry Dates Ps. 1423 days 24.3 Sundry Dates 3,381,663 BICE Sundry Dates US$ 1729 days 8.8 Sundry Dates 3,623,275 Agreements with Banks (1) Sundry Dates Ps. 426 days 70.7 Sundry Dates 84,142,162 Call Taken 12.30.22 Ps. 3 days 21.8 01.21.23 2,227,259 Argentine Central Bank 12.30.22 Ps. 3 days — 01.21.23 307,770 International Institutions Correspondents 12.30.22 US$ 3 days — 01.02.23 6,020,955 IFC Sundry Dates US$ 2082 days 8.0 Sundry dates 11,031,821 Pre-financing Sundry Dates US$ 182 days 8.1 Sundry dates 5,949,957 Total 116,684,862 (*) Weighted average. (**) It includes principal and interest. |
Debt Securities (Tables)
Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Unsubordinated Debt Securities Outstanding [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 Type of Debt Securities Program Approval Date CNV Approval Grupo Financiero Galicia S.A. US$ 100,000 Simple debt securities not convertible into shares 5 years 03.09.09 confirmed on 08.02.12 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. US$ 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, 04.14.10, 04.29.15, 11.09.16 and 04.28.20 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. US$ 500,000 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.U. US$ 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 |
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, 2023, net of repurchases of Own Debt: Company Placement Currency Class Face Value Term Maturity Rate Book Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie II 3,284,942 730 days 01.31.24 Badlar + 6.00% 2,753,081 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie II 4,192,612 730 days 04.07.24 Badlar + 5.25% 3,725,576 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie II 4,779,859 730 days 07.05.24 Badlar + 4.99% 6,175,447 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie II 10,141,234 548 days 02.09.24 Badlar + 3.00% 6,195,912 Tarjeta Naranja S.A.U. 02.03.23 Ps. LVII 12,512,200 365 days 02.03.24 Badlar + 4.50% 11,129,223 Tarjeta Naranja S.A.U. 04.27.23 Ps. LVIII 12,214,678 366 days 04.27.24 Badlar + 5.00% 4,641,269 Tarjeta Naranja S.A.U. 07.27.23 Ps. LIX 12,072,087 366 days 07.27.24 Badlar + 5.00% 12,476,458 Tarjeta Naranja S.A.U. 11.03.23 Ps. LX 27,381,323 366 days 11.03.24 Badlar + 5.00% 23,962,959 Tarjeta Naranja S.A.U. 03.22.22 US$ LII 7,500 770 days 04.30.24 5.00 % 6,118,885 Total 77,178,810 (*) It includes principal and interest. On June 21, 2018, Banco de Galicia y Buenos Aires S.A.U. issued the “Green Bond” which was entirely acquired by the International Finance Corporation. The Green Bond is a 7-year facility, with interest payable every six months. The Green Bond has a 36-month grace period in respect of the repayment of principal, followed by payments in 9 installments due every six months. As of December 31, 2023, the carrying amount of the Green Bond totals Ps.15,536,702, and it amounted to Ps.19,937,550 as of December 31, 2022. The Company has the following Unsubordinated Debt Securities outstanding issued under the Global Programs detailed in the table above as of December 31, 2022, net of repurchases of Own Debt: Company Placement Currency Class Face Value Term Maturity Rate Book Banco Galicia 09.12.22 Ps. XII 5,829,400 6 months 03.12.23 Badlar + —% 18,472,610 Tarjeta Naranja S.A.U. 08.13.21 Ps. XLIX Serie II 1,246,500 730 days 08.13.23 Badlar + 7.24% 5,544,283 Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie I 2,715,058 365 days 01.31.23 Badlar + 3.99% 9,502,336 Tarjeta Naranja S.A.U. 01.31.22 Ps. LI Serie II 3,284,942 730 days 01.31.24 Badlar + 6.00% 11,336,935 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie I 4,532,644 365 days 04.07.23 Badlar + 3.75% 16,440,966 Tarjeta Naranja S.A.U. 04.07.22 Ps. LIII Serie II 4,192,612 730 days 04.07.24 Badlar + 5.25% 15,002,895 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie I 3,220,141 365 days 07.05.23 Badlar + 2.85% 11,743,294 Tarjeta Naranja S.A.U. 07.05.22 Ps. LIV Serie II 4,779,859 730 days 07.05.24 Badlar + 4.99% 17,030,380 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie I 6,968,538 270 days 05.09.23 Badlar + —% 21,061,670 Tarjeta Naranja S.A.U. 08.09.22 Ps. LV Serie II 10,141,234 548 days 02.09.24 Badlar + 3.00% 26,039,365 Tarjeta Naranja S.A.U. 02.03.23 Ps. LVII 8,437,300 365 days 02.03.24 Badlar + 4.50% 28,576,596 Tarjeta Naranja S.A.U. 04.06.21 US$ XLVII 8,500 742 days 04.28.23 7 % 4,748,244 Tarjeta Naranja S.A.U. 03.22.22 US$ LII 7,500 770 days 04.30.24 5 % 4,150,581 Total 189,650,155 (*) It includes principal and interest. |
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 Book Value(*) as of Tarjeta Naranja S.A.U. LI Serie II 97,911 117,385 Tarjeta Naranja S.A.U. LIII Serie II 50,000 64,545 Tarjeta Naranja S.A.U. LIV Serie II 83,000 106,993 Tarjeta Naranja S.A.U. LV Serie II 50,000 57,920 Tarjeta Naranja S.A.U. LVII 50,000 58,750 Tarjeta Naranja S.A.U. LVIII 49,625 59,867 Tarjeta Naranja S.A.U. LIX 2,026,702 2,449,554 Tarjeta Naranja S.A.U. LX 7,665,541 9,102,830 Total 12,017,844 (*) It includes principal and interest. Company ON Class Nominal Value as of Book Value(*) as of Banco de Galicia y Buenos Aires S.A.U. XII 40,000 150,114 Tarjeta Naranja S.A.U. XLVII 2 1,193 Tarjeta Naranja S.A.U. XLIX Serie II 57,000 200,637 Tarjeta Naranja S.A.U. LI Serie I 8,703 30,403 Tarjeta Naranja S.A.U. LI Serie II 50,000 180,159 Tarjeta Naranja S.A.U. LII 13 6,901 Tarjeta Naranja S.A.U. LIII Serie I 50,000 181,152 Tarjeta Naranja S.A.U. LIII Serie II 100,000 363,310 Tarjeta Naranja S.A.U. LIV Serie I 170 613 Tarjeta Naranja S.A.U. LIV Serie II 135,000 472,950 Tarjeta Naranja S.A.U. LV Serie I 831,590 2,777,840 Tarjeta Naranja S.A.U. LV Serie II 2,585,727 8,742,567 Tarjeta Naranja S.A.U. LVII 189,000 658,014 Total 13,765,853 |
Subordinated Debt Securities (T
Subordinated Debt Securities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [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 Rate Book Value Book Value Banco de Galicia y Buenos Aires S.A.U. 07.19.16 US$ II US$250,000 120 months (1) 07.19.26 (2) 205,612,893 141,394,653 (*) 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. |
Summary of Repurchases of Own Subordinated Debt Securities | The repurchases of Own Subordinated Debt securities as of the indicated dates are as follows: Company ON Class Nominal Value as of Book Value(*) as of Banco de Galicia y Buenos Aires S.A.U. II 2,000,000 2,174,296 Total 2,174,296 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other provisions [abstract] | |
Summary of Provisions | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 For Termination Benefits 4,013,811 8,648,052 Others 16,374,132 23,286,874 Total 20,387,943 31,934,926 |
Other Non-financial Liabiliti_2
Other Non-financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other non-financial liabilities [abstract] | |
Summary of Other Non-financial Liabilities | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 Creditors for sale of assets 2,635,658 2,416,250 Tax withholdings and collections payable 70,692,520 92,421,959 Payroll and Social Contributions Payable 78,510,770 56,275,851 Withholdings on Payroll Payable 2,112,721 3,345,468 Fess to Directors and Syndics 1,525,998 1,945,083 Value-Added Tax 15,203,555 12,664,560 Sundry Creditors 49,036,226 30,405,649 Taxes Payable 52,241,225 55,496,336 Obligations Arising from Contracts with Customers (*) 3,622,688 8,665,403 Retirement payment orders pending settlement 481,796 1,106,674 Other Non-financial Liabilities 2,106,220 14,597,851 Total 278,169,377 279,341,084 (*) Including Liabilities for Quiero! Customer Loyalty Program. |
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 Up to 24 Over 24 Total Liabilities – “Quiero!” Customers Loyalty Program 1,182,807 578,016 490,233 2,251,056 |
Exchange Rate Differences on _2
Exchange Rate Differences on Foreign Currency (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions in foreign currency [abstract] | |
Exchange rate differences on gold and foreign currency | The account breaks down as follows as of the indicated dates: Arising from: 12.31.23 12.31.22 12.31.21 For Purchase sale of foreign currency 25,908,441 26,650,743 12,533,554 For Valuation of Assets and Liabilities in Foreign Currency 586,664,664 36,015,524 14,731,450 Total 612,573,105 62,666,267 27,265,004 |
Other Operating Income (Tables)
Other Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Other Operating Income [abstract] | |
Summary of Other Operating Income | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Other Adjustments and Interest on sundry Credits 212,636,372 115,639,341 42,949,355 Rental of Safety Deposit Boxes 12,263,331 12,473,218 12,300,604 Other Financial Income 11,268,721 3,422,685 2,842,193 Other Income from Services 72,290,496 54,919,541 37,786,739 Reversed allowances 25,459,136 202,256 6,130,733 Others 47,842,948 43,126,547 53,425,988 Total 381,761,004 229,783,588 155,435,612 |
Insurance Business Result (Tabl
Insurance Business Result (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of types of insurance contracts [abstract] | |
Summary of Underwriting Income from Insurance Business | The following items are included in the account as of the indicated dates: 12.31.23 12.31.22 Insurance revenue 95,782,121 69,488,357 Insurance service expense (58,799,285) (27,246,871) Net expenses from reinsurance contracts held (639,798) (2,166,449) Total 36,343,038 40,075,037 The following items are included in the account as of December 31, 2021 under IFRS 4: 12.31.21 Premiums and Surcharges Accrued 74,175,529 Claims Accrued (13,593,423) Redemptions (193,197) Fixed and Periodic Annuities (114,455) Production and Operating Expenses (14,866,769) Other Income and Expenses (822,849) Total 44,584,836 |
Impairment Charge (Tables)
Impairment Charge (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Loan Loss Charges [Abstract] | |
Summary of Loan Loss Charges | The following items are included in the account as of the indicated dates: 12.31.23 12.31.22 12.31.21 Expected credit loss allowance (184,869,469) (154,535,309) (123,638,163) Direct charge offs (5,813,345) (8,759,136) (9,512,939) Total (190,682,814) (163,294,445) (133,151,102) |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Personnel Expenses [abstract] | |
Summary of Personnel Expenses | The following are the items included in the account as of the indicated dates: 12.31.23 12.31.22 12.31.21 Payroll (185,585,493) (170,540,830) (169,735,916) Social Contributions on Payroll (43,572,813) (40,656,504) (39,620,402) Personnel Compensations and Rewards (100,733,819) (75,328,612) (58,833,198) Services for Personnel (8,221,659) (8,390,742) (7,180,880) Other Short-term Personnel Expenses (12,786,029) (6,112,941) (5,464,673) Other Long-term Personnel Expenses (559,868) (697,774) (896,277) Total (351,459,681) (301,727,403) (281,731,346) |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Summary Of Expenses By Nature Administrative Expenses [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: 12.31.23 12.31.22 12.31.21 Fees and Remunerations for Services (20,713,249) (23,600,296) (17,935,968) Directors’ and Syndics’ Fees (3,617,647) (3,880,074) (2,372,295) Advertising and Marketing (14,301,575) (13,294,092) (14,013,305) Taxes (88,198,745) (73,456,473) (70,428,847) Maintenance and Repairs of Assets and Systems (42,254,075) (43,441,139) (48,729,757) Electricity and Communications (13,677,167) (14,464,580) (17,447,618) Representation and Travel Expenses (808,896) (725,570) (409,716) Stationery and Office Supplies (1,390,650) (1,029,031) (1,187,803) Rentals (632,365) (1,102,016) (2,941,850) Administrative Services under Contract (52,926,504) (50,994,117) (46,375,916) Security (7,010,320) (6,630,840) (7,029,782) Insurance (2,107,685) (2,505,480) (2,907,905) Armored Transportation Services (18,086,318) (17,398,822) (17,221,663) Others (29,499,201) (26,870,512) (23,936,945) Total (295,224,397) (279,393,042) (272,939,370) |
Depreciation Expenses (Tables)
Depreciation Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Depreciation amortization and impairment [abstract] | |
Summary of Depreciation and Impairment of Assets | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Depreciation of Property, Plant and Equipment (43,213,943) (46,258,382) (51,091,418) Amortization of Organization and Development Expenses (40,517,472) (39,545,859) (36,795,856) Depreciation of other intangible assets (1,100) (1,099) (273) Others (*) (546,073) (1,006,220) (54,303) Total (84,278,588) (86,811,560) (87,941,850) (*) "Other" include the depreciation of various assets and losses from sale or depreciation of property, plant and equipment. |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of other operating expenses [abstract] | |
Summary of Other Operating Expenses | The account breaks down as follows as of the indicated dates: 12.31.23 12.31.22 12.31.21 Turnover Tax (333,362,380) (236,258,017) (194,941,560) Contributions to the Deposit Insurance Scheme (8,731,059) (9,082,223) (9,774,487) Charges for Other Provisions (13,737,045) (13,522,709) (8,786,977) Claims (15,547,234) (18,830,313) (16,711,271) Other Financial Expenses (35,498,466) (37,933) — Interest on leases (3,404,429) (3,559,813) (3,216,986) Credit-card-relates expenses (50,409,675) (38,059,679) (39,265,385) Other Expenses from Services (95,256,426) (67,564,429) (52,215,605) Others (9,619,665) (9,384,224) (10,871,221) Total (565,566,379) (396,299,340) (335,783,492) |
Income Tax_Deferred Tax (Tables
Income Tax/Deferred Tax (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Major components of tax expense (income) [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, 2023, as compared to the previous fiscal year: 12.31.23 12.31.22 12.31.21 Income Before Income Tax for the Year 544,821,641 201,303,683 288,879,118 Current Tax Rate 35% 35% 35% Income for the Year at Tax Rate (190,687,574) (70,456,289) (101,107,691) Permanent Differences at Tax Rate - Income for Equity Instruments 1,025,496 (480,926) (274,203) - Untaxed Income 7,427,467 86,624 1,229,453 - Donations and Other Non-deductible Expenses (637,849) (81,075) (29,973) - Other (7,248,363) (4,007,709) 1,421,215 - Inflation effect (376,659,710) (252,956,569) (168,086,175) -Tax adjustment — — 2,691,141 - Tax inflation adjustment 360,673,706 274,858,560 164,400,746 Total Income Tax Charge for the Year (206,106,827) (53,037,384) (99,755,487) 12.31.23 12.31.22 12.31.21 Current Income Tax (294,728,679) (51,251,420) (78,655,003) Deferred Tax Charge (*) 158,829,499 9,804,586 (25,869,956) Update of the charge tax for inflation effects (71,622,680) (10,181,079) (5,050,214) Tax Return adjustment from previous fiscal year 1,415,033 (1,409,471) 9,819,686 Total Income Tax Charge for the Year (206,106,827) (53,037,384) (99,755,487) (*) See Note 19. |
Summary of Current Income Tax Liabilities | 12.31.23 12.31.22 12.31.21 Current Income Tax (294,728,679) (51,251,420) (78,655,003) Tax Advances 22,328,134 23,847,756 23,154,980 Current Income Tax Liabilities (272,400,545) (27,403,664) (55,500,023) |
Summary of Accumulated Taxable Net Earnings | For the fiscal year beginning on 01.01.23 and ended 12.31.23: Accumulated taxable net earnings Over Ps. At Ps. Will pay Ps Plus % On the surplus of Ps. — 14,301 — 25 % — 14,301 143,012 3,575 30 % 14,301 143,012 Onwards 42,189 35 % 143,012 For the fiscal year beginning on 01.01.22 and ended 12.31.22: Accumulated taxable net earnings Over Ps. At Ps. Will pay Ps Plus % On the surplus of Ps. — 7,605 — 25 % — 7,605 76,049 1,901 30 % 7,605 76,049 Onwards 22,435 35 % 76,049 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Earnings per share [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. 12.31.23 12.31.22 12.31.21 Net Income for the Year Attributable to Parent Company´s Owners 337,172,143 151,257,426 188,618,946 Weighted Average Ordinary Shares 1,474,692 1,474,692 1,474,692 Earnings per Share 228.64 102.57 127.90 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [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 Net Income from interest 1,461,943,165 260,608,702 8,101,150 (240,419) (2,726,778) 1,727,685,820 Net fee Income 291,308,376 186,248,020 — 3,946,005 (10,071,566) 471,430,835 Net Income from Financial Instruments measured at fair value through Profit or Loss 116,826,823 96,839,582 (11,615,003) 66,944,095 4,902,244 273,897,741 Income from Derecognition of Assets Measured at Amortized Cost 42,347,453 (247,465) — 7,053 — 42,107,041 Exchange rate Differences on Foreign Currency 532,622,795 4,934,354 54,441,086 20,574,870 — 612,573,105 Other Operating Income 278,827,435 39,256,149 11,956,374 59,218,160 (7,497,114) 381,761,004 Insurance Business Result — — 21,244,700 — 15,098,338 36,343,038 Impairment Charge (125,750,326) (64,933,672) 1,184 — — (190,682,814) Personnel Expenses (251,554,961) (77,675,268) (12,732,861) (9,496,591) — (351,459,681) Administrative Expenses (204,566,843) (76,730,350) (6,852,605) (7,899,968) 825,369 (295,224,397) Depreciation Expenses (70,120,173) (12,177,651) (1,210,764) (770,000) — (84,278,588) Other Operating Expenses (410,391,059) (105,020,142) (35,547,025) (14,609,835) 1,682 (565,566,379) Loss on net monetary position (1,223,843,712) (225,076,997) (19,458,601) (50,127,295) — (1,518,506,605) Operating Income 437,648,973 26,025,262 8,327,635 67,546,075 532,175 540,080,120 Share of profit from Associates and Joint Ventures (1,946,669) — 4,876,658 — — 2,929,989 Income before Taxes from Continuing Operations 435,702,304 26,025,262 13,204,293 67,546,075 532,175 543,010,109 Income Tax from Continuing Operations (155,272,782) (12,298,583) (1,828,830) (36,440,286) — (205,840,481) Net Income from Continuing Operations 280,429,522 13,726,679 11,375,463 31,105,789 532,175 337,169,628 Net Income for the Year 280,429,522 13,726,679 11,375,463 31,105,789 532,175 337,169,628 Other Comprehensive Income (Loss) — 473,099 198,482 871,090 — 1,542,671 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 280,429,522 14,199,778 11,576,460 31,976,879 532,175 338,714,814 Net Income for the Year Attributable to Non-controlling Interests — — (2,515) — — (2,515) Bank Naranja X Insurance Other Adjustments Total as of Net Income from interest 240,461,814 209,707,226 29,839,442 1,475,281 (6,536,244) 474,947,519 Net fee Income 255,931,705 175,334,452 — 72,803 (9,262,528) 422,076,432 Net Income from Financial Instruments measured at fair value through Profit or Loss 997,642,066 41,654,951 (20,148,716) 26,724,671 7,032,117 1,052,905,089 Income from Derecognition of Assets Measured at Amortized Cost 1,912,283 (51,825) — — — 1,860,458 Exchange rate Differences on Foreign Currency 60,255,103 (407,063) 14,079 2,804,148 — 62,666,267 Other Operating Income 154,698,888 35,795,456 5,197,185 42,121,101 (8,029,042) 229,783,588 Insurance Business Result — — 24,639,180 — 15,435,857 40,075,037 Impairment Charge (110,110,570) (53,187,621) 3,746 — — (163,294,445) Personnel Expenses (208,152,430) (76,069,669) (11,533,982) (5,971,322) — (301,727,403) Administrative Expenses (197,356,606) (69,712,621) (5,905,239) (8,068,006) 1,649,430 (279,393,042) Depreciation Expenses (69,133,836) (15,617,031) (1,742,818) (317,875) — (86,811,560) Other Operating Expenses (285,193,414) (105,504,991) (73,296) (5,578,374) 50,735 (396,299,340) Loss on net monetary position (692,019,044) (129,557,877) (6,065,467) (23,673,188) — (851,315,576) Operating Income 148,935,959 12,383,387 14,224,114 29,589,239 340,325 205,473,024 Share of profit from Associates and Joint Ventures (1,374,074) — — — — (1,374,074) Income before Taxes from Continuing Operations 147,561,885 12,383,387 14,224,114 29,589,239 340,325 204,098,950 Income Tax from Continuing Operations (19,580,911) (6,088,306) (6,699,798) (20,472,481) — (52,841,496) Net Income from Continuing Operations 127,980,974 6,295,081 7,524,316 9,116,758 340,325 151,257,454 Net Income for the Year 127,980,974 6,295,081 7,524,316 9,116,758 340,325 151,257,454 Other Comprehensive Income (Loss) (3,516,138) (44) (56,869) 581,896 — (2,991,155) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 124,464,836 6,295,037 7,467,419 9,698,654 340,325 148,266,271 Net Income for the Year Attributable to Non-controlling Interests — — 28 — — 28 Bank Naranja X Insurance Other Adjustments Total as of Net Income from interest 417,744,914 227,076,403 14,145,228 480,495 3,431,444 662,878,484 Net fee Income 255,306,200 168,107,624 — (163,066) (10,751,388) 412,499,370 Net Income from Financial Instruments measured at fair value through Profit or Loss 579,672,864 2,538,024 (9,166,643) 8,981,497 (2,055,661) 579,970,081 Income from Derecognition of Assets Measured at Amortized Cost 99,088 1,189 — — — 100,277 Exchange rate Differences on Foreign Currency 22,406,058 885,977 237,393 3,735,576 — 27,265,004 Other Operating Income 99,010,114 36,029,925 2,296,106 27,713,454 (9,613,987) 155,435,612 Insurance Business Result — — 25,782,326 — 18,802,510 44,584,836 Impairment Charge (87,908,002) (45,218,721) (24,379) — — (133,151,102) Personnel Expenses (189,101,103) (75,406,262) (9,795,221) (7,428,760) — (281,731,346) Administrative Expenses (196,398,875) (66,117,904) (4,934,656) (6,340,385) 852,450 (272,939,370) Depreciation Expenses (65,648,219) (19,850,619) (2,204,381) (238,631) — (87,941,850) Other Operating Expenses (247,338,558) (85,530,697) (83,365) (2,875,299) 44,427 (335,783,492) Loss on net monetary position (389,734,768) (78,900,186) (4,010,184) (9,614,229) — (482,259,367) Operating Income 198,109,713 63,614,753 12,242,224 14,250,652 709,795 288,927,137 Share of profit from Associates and Joint Ventures (783,437) — — — — (783,437) Income before Taxes from Continuing Operations 197,326,276 63,614,753 12,242,224 14,250,652 709,795 288,143,700 Income Tax from Continuing Operations (59,589,927) (25,865,643) (5,051,093) (9,018,091) — (99,524,754) Net Income from Continuing Operations 137,736,349 37,749,110 7,191,131 5,232,561 709,795 188,618,946 Net Income for the Year 137,736,349 37,749,110 7,191,131 5,232,561 709,795 188,618,946 Other Comprehensive Income (Loss) 456,243 (1,923) 74,588 (24,223) — 504,685 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 138,192,592 37,747,187 7,265,719 5,208,338 709,795 189,123,631 Net Income for the Year Attributable to Non-controlling Interests — — — — — — Bank Naranja X Insurance Other Adjustments Total as of ASSETS Cash and Due from Banks 1,923,492,910 19,499,608 4,505,913 81,312,001 (32,925,610) 1,995,884,822 Debt Securities at fair value through profit or loss 462,568,153 63,364,262 69,021,323 18,033,267 (14,192,140) 598,794,865 Derivative Financial Instruments 35,269,630 6,480,001 — 1,525 (6,460,870) 35,290,286 Repurchase Transactions 1,085,918,848 105,627,805 — — (21,381,414) 1,170,165,239 Other Financial Assets 122,736,808 6,528,263 15,484,688 43,226,200 (9,872,423) 178,103,536 Loans and Other Financing 2,231,642,390 910,598,989 — 4,343,533 (65,878,587) 3,080,706,325 Other Debt Securities 1,791,809,860 118,477,198 16,047,290 — — 1,926,334,348 Financial Assets Pledged as Collateral 386,287,915 31,883,475 — 13,385,812 — 431,557,202 Current Income Tax Assets — — 1,945,136 100,751 — 2,045,887 Investments in Equity Instruments 6,897,267 — 113,495 2,626,756 — 9,637,518 Equity Investments in Associates and Joint Ventures 2,650,357 — — — — 2,650,357 Property, Plant and Equipment 315,533,809 32,594,924 6,427,153 703,275 — 355,259,161 Intangible Assets 102,859,938 8,781,857 9,904,081 2,068,943 — 123,614,819 Deferred Income Tax Assets 130,619,812 29,379,013 28,101,866 1,652,818 — 189,753,509 Insurance Contract Assets — — 9,821,667 — — 9,821,667 Reinsurance Contract Assets — — 28,616,023 — — 28,616,023 Other Non-financial Assets 56,147,521 7,111,263 2,398,533 12,090,011 (8) 77,747,320 Non-current Assets Held for Sale 74,920 — — — — 74,920 TOTAL ASSETS 8,654,510,138 1,340,326,658 192,387,168 179,544,892 (150,711,052) 10,216,057,804 LIABILITIES Deposits 5,544,973,263 205,592,886 — 6,169 (42,792,375) 5,707,779,943 Liabilities at Fair Value Through Profit or Loss 49,485,078 — — — — 49,485,078 Derivative Financial Instruments 18,699,617 — — — (6,460,870) 12,238,747 Repurchase Transactions 23,346,266 21,381,414 — — (21,381,414) 23,346,266 Other Financial Liabilities 666,102,899 533,865,638 — 80,959,134 (7,598,375) 1,273,329,296 Financing Received from the Argentine Central Bank and Other Financial Institutions 43,517,158 151,641,933 — 547,744 (57,578,136) 138,128,699 Debt Securities 15,536,702 89,196,654 — — (12,017,844) 92,715,512 Current Income Tax Liabilities 236,104,364 9,946,179 8,939,382 17,410,620 — 272,400,545 Subordinated Debt Securities 207,787,189 — — — (2,174,296) 205,612,893 Provisions 17,303,410 2,169,812 813,844 100,877 — 20,387,943 Deferred Income Tax Liabilities — — 12,952,332 4,403,004 — 17,355,336 Insurance Contracts Liabilities — — 105,704,654 — (4,122) 105,700,532 Reinsurance Contracts Liabilities — — 2,163,638 — — 2,163,638 Other Non-financial Liabilities 188,628,579 50,722,836 27,905,247 11,616,335 (703,620) 278,169,377 TOTAL LIABILITIES 7,011,484,525 1,064,517,352 158,479,097 115,043,883 (150,711,052) 8,198,813,805 Bank Naranja X Insurance Other Adjustments Total as of ASSETS Cash and Due from Banks 1,352,238,811 20,640,510 40,103 36,489,991 (15,722,561) 1,393,686,854 Debt Securities at fair value through profit or loss 2,465,120,440 624,871 362,600 13,719,057 (12,636,623) 2,467,190,345 Derivative Financial Instruments 10,361,046 3,867,035 — — (3,865,120) 10,362,961 Repurchase Transactions 326,075,813 67,669,329 — — (33,994,862) 359,750,280 Other Financial Assets 136,546,759 4,126,282 3,591,735 30,336,527 (161,060) 174,440,243 Loans and Other Financing 2,949,581,640 1,022,897,139 — 9,553,192 (110,405,186) 3,871,626,785 Other Debt Securities 1,091,174,800 23,135,122 18,999,342 9,673,861 (1,129,230) 1,141,853,895 Financial Assets Pledged as Collateral 311,693,475 159,017,265 — 2,948,796 — 473,659,536 Current Income Tax Assets — — 1,147,220 130,324 — 1,277,544 Investments in Equity Instruments 6,972,517 — — 22 — 6,972,539 Equity Investments in Associates and Joint Ventures 2,076,371 — — — — 2,076,371 Property, Plant and Equipment 317,642,825 37,401,257 5,178,335 452,996 — 360,675,413 Intangible Assets 107,513,800 10,290,005 229,258 1,899,423 — 119,932,486 Deferred Income Tax Assets — 19,432,837 1,389,507 1,866,954 — 22,689,298 Insurance Contract Assets — — 3,495,903 — — 3,495,903 Reinsurance Contract Assets — — 98,766 — — 98,766 Other Non-financial Assets 46,733,979 19,558,131 595,963 11,495,019 — 78,383,092 Non-current Assets Held for Sale 3,896 — — — — 3,896 TOTAL ASSETS 9,123,736,172 1,388,659,783 35,128,732 118,566,162 (177,914,642) 10,488,176,207 LIABILITIES Deposits 6,609,022,940 83,996,986 — 160,254 (22,897,792) 6,670,282,388 Liabilities at Fair Value Through Profit or Loss 243,592 — — — — 243,592 Derivative Financial Instruments 9,140,721 — — — (3,865,121) 5,275,600 Repurchase transactions — 33,994,862 — — (33,994,862) — Other Financial Liabilities 472,735,547 583,560,862 — 30,189,281 (233,462) 1,086,252,228 Financing Received from the Argentine Central Bank and Other Financial Institutions 32,759,770 186,902,377 — — (102,977,285) 116,684,862 Debt Securities 38,560,273 184,793,285 — — (13,765,853) 209,587,705 Current Income Tax Liabilities 9,721,726 3,624,016 3,944,915 10,113,007 — 27,403,664 Subordinated Debt Securities 141,394,653 — — — — 141,394,653 Provisions 30,610,661 530,997 621,588 171,680 — 31,934,926 Deferred Income Tax Liabilities 16,332,680 — 388,195 3,104,558 — 19,825,433 Insurance Contracts Liabilities — — 4,081,691 — (13,490) 4,068,201 Other Non-financial Liabilities 209,158,102 42,567,634 6,103,048 21,679,077 (166,777) 279,341,084 TOTAL LIABILITIES 7,569,680,665 1,119,971,019 15,139,437 65,417,857 (177,914,642) 8,592,294,336 The information by geographic segments as of the indicated dates is presented below: Argentina Uruguay Adjustments Total as of Net Income from interest 1,730,412,598 — (2,726,778) 1,727,685,820 Net fee Income 482,055,942 (553,541) (10,071,566) 471,430,835 Net Income from Financial Instruments measured at fair value through Profit or Loss 268,610,079 385,418 4,902,244 273,897,741 Income from Derecognition of Assets Measured at Amortized Cost 42,107,041 — — 42,107,041 Exchange rate Differences on Foreign Currency 612,413,410 159,695 — 612,573,105 Other Operating Income 388,991,665 266,453 (7,497,114) 381,761,004 Insurance Business Result 21,244,700 — 15,098,338 36,343,038 Impairment Charge (190,682,814) — — (190,682,814) Personnel Expenses (351,086,954) (372,727) — (351,459,681) Administrative Expenses (295,505,737) (544,029) 825,369 (295,224,397) Depreciation Expenses (84,269,572) (9,016) — (84,278,588) Other Operating Expenses (565,565,032) (3,029) 1,682 (565,566,379) Loss on net monetary position (1,517,933,224) (573,381) — (1,518,506,605) Operating Income 540,792,102 (1,244,157) 532,175 540,080,120 Share of profit from Associates and Joint Ventures 2,929,989 — — 2,929,989 Income before Taxes from Continuing Operations 543,722,091 (1,244,157) 532,175 543,010,109 Income Tax from Continuing Operations (205,840,481) — — (205,840,481) Net Income from Continuing Operations 337,881,610 (1,244,157) 532,175 337,169,628 Net Income for the Year 337,881,610 (1,244,157) 532,175 337,169,628 Other Comprehensive Income (Loss) 671,177 871,494 — 1,542,671 Net Income (Loss) for the Year Attributable to Parent Company´s Owners 338,555,302 (372,663) 532,175 338,714,814 Net Income for the Year Attributable to Non-controlling Interests (2,515) — — (2,515) Argentina Uruguay Adjustments Total as of Net Income from interest 481,483,763 — (6,536,244) 474,947,519 Net fee Income 431,461,941 (122,981) (9,262,528) 422,076,432 Net Income from Financial Instruments measured at fair value through Profit or Loss 1,045,734,271 138,701 7,032,117 1,052,905,089 Income from Derecognition of Assets Measured at Amortized Cost 1,860,458 — — 1,860,458 Exchange rate Differences on Foreign Currency 62,641,479 24,788 — 62,666,267 Other Operating Income 237,750,700 61,930 (8,029,042) 229,783,588 Insurance Business Result 24,639,180 — 15,435,857 40,075,037 Impairment Charge (163,294,445) — — (163,294,445) Personnel Expenses (301,507,773) (219,630) — (301,727,403) Administrative Expenses (280,563,505) (478,967) 1,649,430 (279,393,042) Depreciation Expenses (86,809,175) (2,385) — (86,811,560) Other Operating Expenses (396,348,879) (1,196) 50,735 (396,299,340) Loss on net monetary position (851,092,178) (223,398) — (851,315,576) Operating Income 205,955,837 (823,138) 340,325 205,473,024 Share of profit from Associates and Joint Ventures (1,374,074) — — (1,374,074) Income before Taxes from Continuing Operations 204,581,763 (823,138) 340,325 204,098,950 Income Tax from Continuing Operations (52,841,496) — — (52,841,496) Net Income from Continuing Operations 151,740,267 (823,138) 340,325 151,257,454 Net Income for the Year 151,740,267 (823,138) 340,325 151,257,454 Other Comprehensive Income (Loss) (3,573,051) 581,896 — (2,991,155) Net Income (Loss) for the Year Attributable to Parent Company´s Owners 148,167,188 (241,242) 340,325 148,266,271 Net Income for the Year Attributable to Non-controlling Interests 28 — — 28 Argentina Uruguay Adjustments Total as of ASSETS Cash and Due from Banks 2,027,953,634 856,798 (32,925,610) 1,995,884,822 Debt Securities at fair value through profit or loss 612,987,005 — (14,192,140) 598,794,865 Derivative Financial Instruments 41,749,631 1,525 (6,460,870) 35,290,286 Repurchase Transactions 1,191,546,653 — (21,381,414) 1,170,165,239 Other Financial Assets 187,975,959 — (9,872,423) 178,103,536 Loans and Other Financing 3,146,574,476 10,436 (65,878,587) 3,080,706,325 Other Debt Securities 1,926,334,348 — — 1,926,334,348 Financial Assets Pledged as Collateral 430,895,166 662,036 — 431,557,202 Current Income Tax Assets 2,045,887 — — 2,045,887 Investments in Equity Instruments 9,637,518 — — 9,637,518 Equity Investments in Associates and Joint Ventures 2,650,357 — — 2,650,357 Property, Plant and Equipment 354,991,354 267,807 — 355,259,161 Intangible Assets 123,613,994 825 — 123,614,819 Deferred Income Tax Assets 189,753,509 — — 189,753,509 Insurance Contract Assets 9,821,667 — — 9,821,667 Reinsurance Contract Assets 28,616,023 — — 28,616,023 Other Non-financial Assets 77,737,191 10,137 (8) 77,747,320 Non-current Assets Held for Sale 74,920 — — 74,920 TOTAL ASSETS 10,364,959,292 1,809,564 (150,711,052) 10,216,057,804 LIABILITIES Deposits 5,750,572,318 — (42,792,375) 5,707,779,943 Liabilities at Fair Value Through Profit or Loss 49,485,078 — — 49,485,078 Derivative Financial Instruments 18,699,617 — (6,460,870) 12,238,747 Repurchase Transactions 44,727,680 — (21,381,414) 23,346,266 Other Financial Liabilities 1,280,666,786 260,885 (7,598,375) 1,273,329,296 Financing Received from the Argentine Central Bank and Other Financial Institutions 195,706,835 — (57,578,136) 138,128,699 Debt Securities 104,733,356 — (12,017,844) 92,715,512 Current Income Tax Liabilities 272,400,545 — — 272,400,545 Subordinated Debt Securities 207,787,189 — (2,174,296) 205,612,893 Provisions 20,387,943 — — 20,387,943 Deferred Income Tax Liabilities 17,355,336 — — 17,355,336 Insurance Contracts Liabilities 105,704,654 — (4,122) 105,700,532 Reinsurance Contracts Liabilities 2,163,638 — — 2,163,638 Other Non-financial Liabilities 278,025,755 847,242 (703,620) 278,169,377 TOTAL LIABILITIES 8,348,416,730 1,108,127 (150,711,052) 8,198,813,805 Argentina Uruguay Adjustments Total as of Cash and Due from Banks 1,397,795,946 11,613,469 (15,722,561) 1,393,686,854 Debt Securities at fair value through profit or loss 2,478,779,243 1,047,725 (12,636,623) 2,467,190,345 Derivative Financial Instruments 14,228,081 — (3,865,120) 10,362,961 Repurchase Transactions 393,745,142 — (33,994,862) 359,750,280 Other Financial Assets 174,601,303 — (161,060) 174,440,243 Loans and Other Financing 3,982,031,607 364 (110,405,186) 3,871,626,785 Other Debt Securities 1,142,983,125 — (1,129,230) 1,141,853,895 Financial Assets Pledged as Collateral 473,107,585 551,951 — 473,659,536 Current Income Tax Assets 1,277,544 — — 1,277,544 Investments in Equity Instruments 6,972,539 — — 6,972,539 Equity Investments in Associates and Joint Ventures 2,076,371 — — 2,076,371 Property, Plant and Equipment 360,669,210 6,203 — 360,675,413 Intangible Assets 119,930,562 1,924 — 119,932,486 Deferred Income Tax Assets 22,689,298 — — 22,689,298 Insurance Contract Assets 3,495,903 — — 3,495,903 Reinsurance Contract Assets 98,766 — — 98,766 Other Non-financial Assets 78,379,231 3,861 — 78,383,092 Non-current Assets Held for Sale 3,896 — — 3,896 TOTAL ASSETS 10,652,865,352 13,225,497 (177,914,642) 10,488,176,207 Deposits 6,693,180,180 — (22,897,792) 6,670,282,388 Liabilities at Fair Value Through Profit or Loss 243,592 — — 243,592 Derivative Financial Instruments 9,140,720 — (3,865,120) 5,275,600 Repurchase Transactions 33,994,862 — (33,994,862) — Other Financial Liabilities 1,074,560,291 11,925,399 (233,462) 1,086,252,228 Financing Received from the Argentine Central Bank and Other Financial Institutions 219,662,147 — (102,977,285) 116,684,862 Debt Securities 223,353,558 — (13,765,853) 209,587,705 Current Income Tax Liabilities 27,403,664 — — 27,403,664 Subordinated Debt Securities 141,394,653 — — 141,394,653 Provisions 31,934,926 — — 31,934,926 Deferred Income Tax Liabilities 19,825,433 — — 19,825,433 Insurance Contracts Liabilities 4,081,691 — (13,490) 4,068,201 Other Non-financial Liabilities 278,485,993 1,021,869 (166,778) 279,341,084 TOTAL LIABILITIES 8,757,261,710 12,947,268 (177,914,642) 8,592,294,336 |
Capital Management and Risk P_2
Capital Management and Risk Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [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, 2023, and December 31, 2022, is as follows: 12.31.23 12.31.22 Basic Shareholders’ Equity 1,600,079,694 505,589,433 (Deductible Items) (304,644,028) (63,094,866) Equity Tier 1 1,295,435,666 442,494,567 Complementing shareholders’ Equity 80,848,330 36,138,983 Equity Tier 2 80,848,330 36,138,983 Regulatory Capital (RPC) 1,376,283,996 478,633,550 |
Summary of Breakdown of Minimum Capital Requirement | The breakdown of the minimum capital requirement determined for the Group is shown below: 12.31.23 12.31.22 Credit Risk 288,667,341 109,407,718 Market Risk 52,837,873 6,642,210 Operational Risk 112,505,729 36,743,804 Minimum Capital Requirement 454,010,943 152,793,732 Integration 1,376,283,996 478,633,550 Excess 922,273,053 325,839,818 |
Summary of Exposure to Foreign Exchange Risk as of Year End by Type of Currency | The Group’s exposure to the foreign exchange risk as of year-end by type of currency is shown below: Balances as of 12.31.23 Currency Monetary Monetary Derivatives Net Position US Dollar 2,926,068 (2,259,546) 61,597 728,119 Euro 30,047 (5,576) — 24,471 Canadian Dollar 825 (75) — 750 Real 350 — — 350 Swiss Franc 407 (299) — 108 Others 975 (42) — 933 Total 2,958,672 (2,265,538) 61,597 754,731 Balances as of 12.31.22 Currency Monetary Monetary Derivatives Net Position US Dollar 1,755,508 (1,449,086) (71,182) 235,240 Euro 17,931 (6,997) — 10,934 Canadian Dollar 187 (37) — 150 Real 218 — — 218 Swiss Franc 249 (165) — 84 Others 632 (349) — 283 Total 1,774,725 (1,456,634) (71,182) 246,909 Balances as of 12.31.23 Balances as of 12.31.22 Currency Change Income Shareholders’ Income Shareholders’ US Dollar 10 % 72,812 800,931 23,524 258,764 -10 % (72,812) 655,307 (23,524) 211,716 Euro 10 % 2,447 26,918 1,093 12,027 -10 % (2,447) 22,024 (1,093) 9,841 Canadian Dollar 10 % 75 825 15 165 -10 % (75) 675 (15) 135 Real 10 % 35 385 22 240 -10 % (35) 315 (22) 196 Swiss Franc 10 % 11 119 8 92 -10 % (11) 97 (8) 76 Others 10 % 93 1,026 28 311 -10 % (93) 840 (28) 255 |
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 12.31.23 Total Financial Assets 5,102,033,400 551,446,328 465,828,456 327,672,507 2,432,583,884 8,879,564,575 Total Financial Liabilities 5,069,823,014 306,215,230 107,809,668 69,605,652 1,828,760,557 7,382,214,121 Net Amount 32,210,386 245,231,098 358,018,788 258,066,855 603,823,327 1,497,350,454 As of 12.31.22 Total Financial Assets 4,871,202,538 691,689,079 567,053,947 542,727,230 2,676,937,733 9,349,610,527 Total Financial Liabilities 5,599,467,500 442,151,732 241,147,518 103,312,678 1,817,076,540 8,203,155,968 Net Amount (728,264,962) 249,537,347 325,906,429 439,414,552 859,861,193 1,146,454,559 |
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, 2023. The percentage change budgeted by the Group for fiscal year 2023 was determined considering 100 bps and changes are considered reasonably possible on the basis on an observation of market conditions. Additional Increase/(Decrease) Increase/(Decrease) Decrease in Interest Rate -100 bp 3,299,498 0.2 % Increase in Interest Rate 100 bp (3,299,498) (0.2) % |
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, 2023, and December 31, 2022, 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 587,160,439 9,803,797 20,832,320 2,208,940 — 620,005,496 Derivative Financial Instruments 35,290,286 — — — — 35,290,286 Repurchase Transactions 1,215,786,083 — — — — 1,215,786,083 Other Financial Assets 136,192,280 1,798,376 2,165,150 56,017,704 — 196,173,510 Loans and Other Financing 4,776,066,952 1,358,395,938 437,504,077 384,243,976 142,051,485 7,098,262,428 Other Debt Securities 1,930,419,683 1,605,063 1,802,910 6,418,247 — 1,940,245,903 Financial Assets Pledged as Collateral 431,557,202 — — — — 431,557,202 Investments in Equity Instruments 9,637,518 — — — — 9,637,518 Liabilities Deposits 5,647,823,827 176,006,996 21,841,927 72,319 — 5,845,745,069 Liabilities at fair value through profit or loss 49,485,078 — — — — 49,485,078 Derivative Financial Instruments 12,238,747 — — — — 12,238,747 Repurchase Transactions 23,346,266 — — — — 23,346,266 Other Financial Liabilities 1,088,954,636 157,107,639 2,844,706 8,544,409 3,517,101 1,260,968,491 Lease liabilities 808,649 2,100,011 2,802,852 6,721,096 7,274,994 19,707,602 Financing Received from the Argentine Central Bank and Other Financial Institutions 62,668,525 86,372,601 23,917,179 4,425,851 — 177,384,156 Debt Securities 15,936,208 70,318,991 19,191,154 7,860,455 — 113,306,808 Subordinated Debt Securities 15,123,585 — 7,878,160 214,123,787 — 237,125,532 Less than 1 1 to 6 6 to 12 12 Months More than Total as of Assets Debt Securities measured at Fair Value through Profit or Loss 3,157,872,955 3,470,722 4,089,483 17,179,790 — 3,182,612,950 Derivative Financial Instruments 10,362,961 — — — — 10,362,961 Repurchase Transactions 370,641,706 — — — — 370,641,706 Other Financial Assets 142,734,438 1,265,031 1,533,119 21,025,466 21510293 188,068,347 Loans and Other Financing 1,783,781,022 1,661,900,533 712,190,281 613,435,344 407,689,998 5,178,997,178 Other Debt Securities 1,144,304,734 2,001,258 2,886,945 8,172,336 — 1,157,365,273 Financial Assets Pledged as Collateral 473,659,537 — — — — 473,659,537 Investments in Equity Instruments 6,972,539 — — — — 6,972,539 Liabilities Deposits 6,519,552,836 303,856,641 18,922,368 360,563 56 6,842,692,464 Liabilities measured at Fair Value trough Profit or Loss 243,592 — — — — 243,592 Derivative Financial Instruments 5,275,600 — — — — 5,275,600 Other Financial Liabilities 745,989,831 314,662,504 1,153,164 8,115,177 2858159 1,072,778,835 Lease Liabilities 714,298 2,231,557 2,774,275 10,070,335 5,372,999 21,163,464 Financing Received from the Argentine Central Bank and Other Financial Institutions 26,996,838 63,717,741 57,111,181 5,936,990 — 153,762,750 Debt Securities 26,024,904 120,416,353 75,720,724 88,524,165 — 310,686,146 Subordinated Debt Securities 5,360,409 — 5,360,409 168,613,892 — 179,334,710 |
Schedule of Credit Quality of Debt Securities | The credit quality of debt securities as of December 31, 2023, is as follows: Government Securities Rating Government Provincial Autonomous Treasury Argentine Foreign government bonds Private Total as of AAA — 20,188 — — — 15,916,126 12,668,532 28,604,846 AA+ — — 2,291,015 — — — 500,471 2,791,486 AA — 63,724 — — — — 6,776,854 6,840,578 AA- 522,735 — — — — — 170,863 693,598 A+ — — — — — — 2,595,806 2,595,806 A1 — — — — — — 121,353 121,353 A — — — — — — 1,545,463 1,545,463 A2 — — — — — — 267,998 267,998 A- — 773,915 — — — — 627,162 1,401,077 BBB- — 1 — — — — — 1 B1 — 169,500 — — — — — 169,500 BB- — — — — — — 649,419 649,419 CCC 546,825,257 — — 6,246,150 — — 42,333 553,113,740 Total 547,347,992 1,027,328 2,291,015 6,246,150 — 15,916,126 25,966,254 598,794,865 The credit quality of debt securities as of December 31, 2022, is as follows: Government Securities Rating Government Provincial Autonomous Treasury Argentine Foreign government bonds Private Total as of AAA — — — — — 7,982,203 379,799 8,362,002 AA+ — — 123,193 — — — — 123,193 AA — 242,546 — — — — 1,201,370 1,443,916 AA- — — — — — — 379,668 379,668 A+ — — — — — — 24,978 24,978 A1 — — — — — — 86,285 86,285 A — — — — — — 255,893 255,893 A2 — — — — — — 1,130,578 1,130,578 A- — — — — — — 125,943 125,943 BBB — 2,181,653 — — — — 130,374 2,312,027 BBB.ar — — — — — — 65 65 B1 — 795,647 — — — — — 795,647 B — 4,439,916 — — — — — 4,439,916 BB- — — — — — — 136,225 136,225 CCC 31,802,325 — — 173,083,212 — — — 204,885,537 C — — — — 2,242,639,562 — 48,910 2,242,688,472 Total 31,802,325 7,659,762 123,193 173,083,212 2,242,639,562 7,982,203 3,900,088 2,467,190,345 |
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 (**) with impairment risk 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 (**) with impairment risk 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 (**) with impairment risk C - It does not apply to defaulted clients (*) It refers to customers who have been in stage 3 and back to stage 1, the entity has decided to keep them in stage 2. (**) 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 - 2024 (*) QII - 2024 (*) QIII - 2024 (*) QIV - 2024 (*) GDP Base -6.4 % -3.2 % -4.0 % 1.9 % Optimistic -6.1 % -2.6 % -3.1 % 3.1 % Pessimistic -7.3 % -5.1 % -6.8 % -2.1 % Unemployment Rate Base 13.9 % 28.7 % 13.2 % 2.7 % Optimistic 8.1 % 22.3 % 7.3 % -2.7 % Pessimistic 28.5 % 44.7 % 27.9 % 16.4 % Real Salary Base -17.7 % -15.7 % -14.6 % -7.3 % Optimistic -15.6 % -26.3 % -7.4 % 3.5 % Pessimistic -20.1 % -21.5 % -23.7 % -20.6 % Badlar rate Base 87.4 % -8.1 % -56.0 % -67.5 % Optimistic 80.3 % -13.5 % -60.4 % -71.4 % Pessimistic 117.0 % 29.8 % -5.5 % -16.8 % Consumer Price Index (CPI) Base 372.9 % 385.6 % 307.5 % 194.3 % Optimistic 359.1 % 356.0 % 269.6 % 157.7 % Pessimistic 445.6 % 558.6 % 553.7 % 459.3 % (*) |
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 Base scenario Sensitivity Regular scenario 70 % 45 % Positive scenario 15 % 10 % Negative scenario 15 % 45 % Grupo Financiero Galicia ECL 138,300,714 138,201,763 Retail, Retail like and Wholesale ECL 95,700,960 95,749,978 Naranja ECL 42,599,754 42,451,785 Scenario 2 (change in forecast PIB, inflation, nominal Regular Positive Negative Macroeconomic scenario probability 70 % 15 % 15 % Sensitivity GDP 1 % 1 % 1 % Unemployment Rate 10 % 10 % 10 % Real Salary -5 % -5 % -5 % Badlar 5 % 2 % 5 % CPI 2 % 2 % 2 % Grupo Financiero Galicia ECL 141,157,421 Retail, Retail like and Wholesale RCL 95,702,446 Naranja ECL 45,454,975 |
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, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 762,818,569 203,339,455 8,598,328 974,756,352 1,212,714,389 1-30 13,116,789 11,395,258 1,471,391 25,983,438 35,794,556 31-60 — 8,057,236 1,113,782 9,171,018 12,636,265 61-90 — 5,449,649 2,393,087 7,842,736 14,129,903 Default — — 39,011,728 39,011,728 50,674,609 Gross Carrying amount 775,935,358 228,241,598 52,588,316 1,056,765,272 1,325,949,722 Loss allowance (15,101,655) (15,306,988) (41,023,973) (71,432,616) (130,520,205) Net Carrying amount 760,833,703 212,934,610 11,564,343 985,332,656 1,195,429,517 Retail like Portfolio December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 550,175,218 99,560,292 3,072,263 652,807,773 934,271,909 1-30 4,842,926 4,451,498 803,427 10,097,851 13,554,170 31-60 645,195 1,913,694 416,065 2,974,954 3,624,097 61-90 27,394 1,457,768 530,239 2,015,401 1,972,051 Default — — 11,285,401 11,285,401 8,001,949 Gross Carrying amount 555,690,733 107,383,252 16,107,395 679,181,380 961,424,176 Loss allowance (2,680,004) (2,333,631) (8,501,965) (13,515,600) (25,139,015) Net Carrying amount 553,010,729 105,049,621 7,605,430 665,665,780 936,285,161 Wholesale Portfolio December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 4,056,209,449 75,310,041 — 4,131,519,490 2,830,702,618 B1 — 2,223,898 9,053 2,232,951 2,991,877 Default — — 1,360,741 1,360,741 1,266,971 Gross Carrying amount 4,056,209,449 77,533,939 1,369,794 4,135,113,182 2,834,961,466 Loss allowance (7,653,080) (2,136,099) (963,565) (10,752,744) (10,926,634) Net Carrying amount 4,048,556,369 75,397,840 406,229 4,124,360,438 2,824,034,832 Naranja X December 31, 2023 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 868,300,688 5,007,139 — 873,307,827 953,499,450 1-30 36,934,211 1,429,672 — 38,363,883 60,540,414 31-60 — 12,351,745 — 12,351,745 21,261,529 61-90 — 5,094,153 — 5,094,153 9,137,563 Default — — 18,306,451 18,306,451 25,785,665 Gross Carrying amount 905,234,899 23,882,709 18,306,451 947,424,059 1,070,224,621 Loss allowance (25,015,691) (6,166,747) (11,417,316) (42,599,754) (51,284,349) Net Carrying amount 880,219,208 17,715,962 6,889,135 904,824,305 1,018,940,272 Retail Portfolio December 31, 2022 December 31, 2021 ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 1,053,027,127 151,046,151 8,641,111 1,212,714,389 1,350,644,656 1-30 21,508,453 12,429,341 1,856,762 35,794,556 36,938,393 31-60 — 11,130,998 1,505,267 12,636,265 13,528,448 61-90 — 10,612,878 3,517,025 14,129,903 9,428,290 Default — — 50,674,609 50,674,609 85,586,255 Gross Carrying amount 1,074,535,580 185,219,368 66,194,774 1,325,949,722 1,496,126,042 Loss allowance (42,974,146) (32,539,841) (55,006,218) (130,520,205) (189,399,412) Net Carrying amount 1,031,561,434 152,679,527 11,188,556 1,195,429,517 1,306,726,630 Retail like Portfolio December 31, 2022 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 888,235,418 42,949,221 3,087,270 934,271,909 1,035,154,399 1-30 10,127,008 2,382,424 1,044,738 13,554,170 11,156,802 31-60 — 3,067,303 556,794 3,624,097 2,350,639 61-90 — 969,269 1,002,782 1,972,051 1,605,661 Default — — 8,001,949 8,001,949 13,510,869 Gross Carrying amount 898,362,426 49,368,217 13,693,533 961,424,176 1,063,778,370 Loss allowance (13,889,055) (2,658,858) (8,591,102) (25,139,015) (25,650,152) Net Carrying amount 884,473,371 46,709,359 5,102,431 936,285,161 1,038,128,218 Wholesale Portfolio December 31, 2022 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due A 2,815,090,330 15,612,288 — 2,830,702,618 3,117,071,671 B1 — 2,991,877 — 2,991,877 1,301,497 Default — — 1,266,971 1,266,971 4,428,696 Gross Carrying amount 2,815,090,330 18,604,165 1,266,971 2,834,961,466 3,122,801,864 Loss allowance (8,754,145) (1,328,113) (844,376) (10,926,634) (15,254,799) Net Carrying amount 2,806,336,185 17,276,052 422,595 2,824,034,832 3,107,547,065 Naranja X December 31, 2022 December 31, ECL Staging Stage 1 Stage 2 Stage 3 12-month Lifetime Lifetime Total Total Days past due 0 945,781,358 6,214,800 1,503,292 953,499,450 1,027,311,261 1-30 57,595,105 2,511,957 433,352 60,540,414 49,009,039 31-60 — 20,810,875 450,654 21,261,529 14,712,358 61-90 — 8,782,521 355,042 9,137,563 7,701,379 Default — — 25,785,665 25,785,665 24,062,976 Gross Carrying amount 1,003,376,463 38,320,153 28,528,005 1,070,224,621 1,122,797,013 Loss allowance (24,520,830) (10,267,926) (16,495,593) (51,284,349) (58,431,456) Net Carrying amount 978,855,633 28,052,227 12,032,412 1,018,940,272 1,064,365,557 |
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 119,850,633 (3,003,809) 116,846,824 — Documents 703,859,191 (2,413,581) 701,445,610 — Mortgage Loans 37,915,833 (4,635,772) 33,280,061 1,094,745,502 Pledge Loans 45,092,352 (387,208) 44,705,144 544,782,445 Personal Loans 255,726,017 (28,140,840) 227,585,177 — Credit Card Loans 1,706,968,422 (66,983,151) 1,639,985,271 — Financial Leases 6,393,224 (133,848) 6,259,376 — Others 3,942,678,221 (32,602,505) 3,910,075,716 298,730,043 Total as of December 31, 2023 6,818,483,893 (138,300,714) 6,680,183,179 1,938,257,990 |
Summary of Mortgage Portfolio LTV Distribution | The following table shows information about the mortgage portfolio LTV distribution. Mortgages Portfolio -LTV Distribution Exposure Lower than 50% 130,646 50 to 60% 793 60 to 70% 177 70 to 80% 47 80 to 90% — 90 to 100% 35 Higher than 100% 235 Total 131,933 |
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 fiscal year due to these factors: Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2022 42,974,146 32,539,841 55,006,218 130,520,205 Inflation effect (30,352,970) (27,944,697) (59,508,788) (117,806,455) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (1,754,186) 1,754,186 — — Transfer from Stage 1 to Stage 3 (845,642) — 845,642 — Transfer from Stage 2 to Stage 1 2,290,494 (2,290,494) — — Transfer from Stage 2 to Stage 3 — (1,335,010) 1,335,010 — Transfer from Stage 3 to Stage 1 — 902,599 (902,599) — Transfer from Stage 3 to Stage 2 922,503 — (922,503) — New Financial Assets Originated or Purchased 13,368,666 15,263,748 59,569,970 88,202,384 Changes in PDs/LGDs/EADs (3,512,800) (615,767) (3,064,764) (7,193,331) Foreign exchange and other movements (4,440,496) 3,543,244 8,964,394 8,067,142 Other movements with no P&L impact Write-offs and other movements (3,548,060) (6,510,662) (20,298,607) (30,357,329) Loss Allowance as of December 31, 2023 15,101,655 15,306,988 41,023,973 71,432,616 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2022 13,889,055 2,658,858 8,591,102 25,139,015 Inflation effect (9,084,336) (2,977,016) (10,996,441) (23,057,793) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (401,590) 401,590 — — Transfer from Stage 1 to Stage 3 (84,635) — 84,635 — Transfer from Stage 2 to Stage 1 180,853 (180,853) — — Transfer from Stage 2 to Stage 3 — (81,190) 81,190 — Transfer from Stage 3 to Stage 1 — 24,605 (24,605) — Transfer from Stage 3 to Stage 2 22,298 — (22,298) — New Financial Assets Originated or Purchased 3,156,998 2,613,554 12,923,881 18,694,433 Changes in PDs/LGDs/EADs 148,345 43,190 (251,741) (60,206) Foreign exchange and other movements (204,005) 445,542 1,623,120 1,864,657 Other movements with no P&L impact Write-offs and other movements (4,942,979) (614,649) (3,506,878) (9,064,506) Loss Allowance as of December 31, 2023 2,680,004 2,333,631 8,501,965 13,515,600 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2022 8,754,145 1,328,113 844,376 10,926,634 Inflation effect (7,673,493) (2,282,627) (1,215,923) (11,172,043) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (109,941) 109,941 — — Transfer from Stage 1 to Stage 3 (18,401) — 18,401 — Transfer from Stage 2 to Stage 1 287 (287) — — Transfer from Stage 2 to Stage 3 — — — — Transfer from Stage 3 to Stage 1 — — — — Transfer from Stage 3 to Stage 2 — — — — New Financial Assets Originated or Purchased 12,520,867 1,619,761 2,093,232 16,233,860 Changes in PDs/LGDs/EADs (127,921) 23,509 (271,586) (375,998) Foreign exchange and other movements (2,258,076) 1,832,806 51,243 (374,027) Other movements with no P&L impact Write-offs and other movements (3,434,387) (495,117) (556,178) (4,485,682) Loss Allowance as of December 31, 2023 7,653,080 2,136,099 963,565 10,752,744 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2022 24,520,830 10,267,926 16,495,593 51,284,349 Inflation effect (27,262,178) (9,262,754) (13,878,216) (50,403,148) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (425,804) 425,804 — — Transfer from Stage 1 to Stage 3 (505,604) — 505,604 — Transfer from Stage 2 to Stage 1 381 (438,526) 438,145 — Transfer from Stage 2 to Stage 3 1,203,054 (1,203,539) 485 — Transfer from Stage 3 to Stage 1 — 49,396 (49,396) — Transfer from Stage 3 to Stage 2 332,723 — (332,723) — New Financial Assets Originated or Purchased 10,075,176 2,984,277 4,346,117 17,405,570 Changes in PDs/LGDs/EADs 15,707,862 7,106,905 15,425,749 38,240,516 Foreign exchange and other movements 3,189,840 513,464 461,165 4,164,469 Other movements with no P&L impact Write-offs and other movements (1,820,589) (4,276,206) (11,995,207) (18,092,002) Loss Allowance as of December 31, 2023 25,015,691 6,166,747 11,417,316 42,599,754 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2021 35,456,694 60,763,694 93,179,025 189,399,413 Inflation effect (22,036,893) (29,166,427) (45,601,762) (96,805,082) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (1,203,771) 1,203,771 — — Transfer from Stage 1 to Stage 3 (633,232) — 633,232 — Transfer from Stage 2 to Stage 1 3,564,092 (3,564,092) — — Transfer from Stage 2 to Stage 3 — (1,732,725) 1,732,725 — Transfer from Stage 3 to Stage 1 — 1,734,061 (1,734,061) — Transfer from Stage 3 to Stage 2 2,783,608 — (2,783,608) — New Financial Assets Originated or Purchased 33,659,996 25,469,044 30,251,748 89,380,788 Changes in PDs/LGDs/EADs 2,838,583 3,470,451 (4,502,428) 1,806,606 Foreign exchange and other movements (6,345,133) (12,475,697) 4,776,177 (14,044,653) Other movements with no P&L impact Write-offs and other movements (5,109,798) (13,162,239) (20,944,830) (39,216,867) Loss Allowance as of December 31, 2022 42,974,146 32,539,841 55,006,218 130,520,205 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2021 1,563,696 8,257,699 15,828,757 25,650,152 Inflation effect (4,076,936) (3,565,336) (7,416,680) (15,058,952) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (33,040) 33,040 — — Transfer from Stage 1 to Stage 3 (8,330) — 8,330 — Transfer from Stage 2 to Stage 1 141,578 (141,578) — — Transfer from Stage 2 to Stage 3 — (38,154) 38,154 — Transfer from Stage 3 to Stage 1 — 144,590 (144,590) — Transfer from Stage 3 to Stage 2 102,646 — (102,646) — New Financial Assets Originated or Purchased 15,004,299 1,976,663 6,364,032 23,344,994 Changes in PDs/LGDs/EADs 2,205,152 547,741 (78,643) 2,674,250 Foreign exchange and other movements (392,333) (4,182,398) (1,495,255) (6,069,986) Other movements with no P&L impact Write-offs and other movements (617,677) (373,409) (4,410,357) (5,401,443) Loss Allowance as of December 31, 2022 13,889,055 2,658,858 8,591,102 25,139,015 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2021 8,887,854 1,940,686 4,426,258 15,254,798 Inflation effect (4,266,417) (1,003,679) (1,463,494) (6,733,590) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (7,327) 7,327 — — Transfer from Stage 1 to Stage 3 (2,251) — 2,251 — Transfer from Stage 2 to Stage 1 193,403 (193,403) — — Transfer from Stage 2 to Stage 3 — (143) 143 — Transfer from Stage 3 to Stage 1 — — — — Transfer from Stage 3 to Stage 2 — — — — New Financial Assets Originated or Purchased 9,868,897 1,213,064 461,263 11,543,224 Changes in PDs/LGDs/EADs (9,274) (100,105) (302) (109,681) Foreign exchange and other movements (238,257) 197,968 434,305 394,016 Other movements with no P&L impact Write-offs and other movements (5,672,483) (733,602) (3,016,048) (9,422,133) Loss Allowance as of December 31, 2022 8,754,145 1,328,113 844,376 10,926,634 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2021 34,441,321 7,627,398 16,362,737 58,431,456 Inflation effect (19,568,650) (6,207,462) (10,965,512) (36,741,624) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (708,353) 708,353 — — Transfer from Stage 1 to Stage 3 (849,364) — 849,364 — Transfer from Stage 2 to Stage 1 498,641 (498,641) — — Transfer from Stage 2 to Stage 3 — (756,225) 756,225 — Transfer from Stage 3 to Stage 1 — 47,985 (47,985) — Transfer from Stage 3 to Stage 2 65,670 — (65,670) — New Financial Assets Originated or Purchased 11,860,265 12,791,281 20,126,397 44,777,943 Changes in PDs/LGDs/EADs (5,255,789) (534,279) (1,198,686) (6,988,754) Foreign exchange and other movements 5,895,887 (721,983) 2,652,658 7,826,562 Other movements with no P&L impact Write-offs and other movements (1,858,798) (2,188,501) (11,973,935) (16,021,234) Loss Allowance as of December 31, 2022 24,520,830 10,267,926 16,495,593 51,284,349 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2020 45,361,630 115,624,098 53,965,777 214,951,505 Inflation effect (15,980,669) (36,157,419) (29,152,080) (81,290,168) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (3,115,702) 3,115,702 — — Transfer from Stage 1 to Stage 3 (1,118,645) — 1,118,645 — Transfer from Stage 2 to Stage 1 4,372,817 (4,372,817) — — Transfer from Stage 2 to Stage 3 — (3,411,057) 3,411,057 — Transfer from Stage 3 to Stage 1 — 2,808,187 (2,808,187) — Transfer from Stage 3 to Stage 2 1,464,475 — (1,464,475) — New Financial Assets Originated or Purchased 11,264,894 14,460,843 55,700,140 81,425,877 Changes in PDs/LGDs/EADs 2,058,068 5,190,113 (7,110,969) 137,212 Foreign exchange and other movements (5,474,269) (31,997,631) 34,367,360 (3,104,540) Other movements with no P&L impact Write-offs and other movements (3,375,905) (4,496,325) (14,848,243) (22,720,473) Loss Allowance as of December 31, 2021 35,456,694 60,763,694 93,179,025 189,399,413 Stage 1 Stage 2 Stage 3 Retail Like Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2020 5,120,155 19,510,545 16,771,647 41,402,347 Inflation effect (1,238,798) (5,656,468) (6,540,267) (13,435,533) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (229,131) 229,131 — — Transfer from Stage 1 to Stage 3 (70,425) — 70,425 — Transfer from Stage 2 to Stage 1 276,331 (276,331) — — Transfer from Stage 2 to Stage 3 — (269,034) 269,034 — Transfer from Stage 3 to Stage 1 — 284,957 (284,957) — Transfer from Stage 3 to Stage 2 417,445 — (417,445) — New Financial Assets Originated or Purchased 1,023,419 305,369 12,523,087 13,851,875 Changes in PDs/LGDs/EADs (1,569,367) (1,062,601) (1,574,664) (4,206,632) Foreign exchange and other movements (11,282) (4,262,688) 268,863 (4,005,107) Other movements with no P&L impact Write-offs and other movements (2,154,651) (545,181) (5,256,966) (7,956,798) Loss Allowance as of December 31, 2021 1,563,696 8,257,699 15,828,757 25,650,152 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2020 17,943,430 5,705,215 5,555,948 29,204,593 Inflation effect (5,049,615) (2,066,155) (1,576,650) (8,692,420) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (129,321) 129,321 — — Transfer from Stage 1 to Stage 3 — — — — Transfer from Stage 2 to Stage 1 847,838 (847,838) — — Transfer from Stage 2 to Stage 3 — (1,870,719) 1,870,719 — Transfer from Stage 3 to Stage 1 — — — — Transfer from Stage 3 to Stage 2 — — — — New Financial Assets Originated or Purchased 6,078,500 1,286,693 1,797 7,366,990 Changes in PDs/LGDs/EADs 1,458,518 78,113 (274,288) 1,262,343 Foreign exchange and other movements (9,368,416) (156,825) 2,108,161 (7,417,080) Other movements with no P&L impact Write-offs and other movements (2,893,080) (317,119) (3,259,429) (6,469,628) Loss Allowance as of December 31, 2021 8,887,854 1,940,686 4,426,258 15,254,798 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Total Loss Allowance as of December 31, 2020 33,947,653 5,394,381 16,924,971 56,267,005 Inflation effect (12,923,549) (2,548,429) (6,150,039) (21,622,017) Movements with P&L Impact Transfer from Stage 1 to Stage 2 (510,310) 510,310 — — Transfer from Stage 1 to Stage 3 (818,018) — 818,018 — Transfer from Stage 2 to Stage 1 1,350,027 (1,350,027) — — Transfer from Stage 2 to Stage 3 — (611,904) 611,904 — Transfer from Stage 3 to Stage 1 — 64,645 (64,645) — Transfer from Stage 3 to Stage 2 1,037,863 — (1,037,863) — New Financial Assets Originated or Purchased 21,671,204 8,666,319 17,734,011 48,071,534 Changes in PDs/LGDs/EADs (6,153,814) (857,769) (1,858,238) (8,869,821) Foreign exchange and other movements (514,713) (114,386) (245,389) (874,488) Other movements with no P&L impact Write-offs and other movements (2,645,022) (1,525,742) (10,369,993) (14,540,757) Loss Allowance as of December 31, 2021 34,441,321 7,627,398 16,362,737 58,431,456 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 Total Gross carrying amount as of December 31, 2022 1,074,535,580 185,219,368 66,194,774 1,325,949,722 Transfers: Transfers from Stage 1 to Stage 2 (37,704,886) 37,704,886 — — Transfers from Stage 1 to Stage 3 (8,051,270) — 8,051,270 — Transfers from Stage 2 to stage 1 16,099,911 (16,099,911) — — Transfers from Stage 2 to Stage 3 — (4,682,419) 4,682,419 — Transfers from Stage 3 to Stage 2 — 1,210,485 (1,210,485) — Transfers from Stage 3 to Stage 1 1,235,003 — (1,235,003) — Financial assets derecognized during the period other than write-offs (96,528,639) (20,392,574) (13,276,853) (130,198,066) New financial assets originated or purchased 285,815,964 117,018,046 32,201,007 435,035,017 Foreign exchange and other movements 267,143,012 54,004,979 2,119,330 323,267,321 Inflation Effect (726,609,317) (125,741,262) (44,938,143) (897,288,722) Gross carrying amount as of December 31, 2023 775,935,358 228,241,598 52,588,316 1,056,765,272 Stage 1 Stage 2 Stage 3 Retail like Portfolio 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2022 898,362,426 49,368,217 13,693,533 961,424,176 Transfers: Transfers from Stage 1 to Stage 2 (22,165,829) 22,165,829 — — Transfers from Stage 1 to Stage 3 (1,297,079) — 1,297,079 — Transfers from Stage 2 to Stage 1 5,542,982 (5,542,982) — — Transfers from Stage 2 to Stage 3 — (554,310) 554,310 — Transfers from Stage 3 to Stage 2 — 47,221 (47,221) — Transfers from Stage 3 to Stage 1 65,951 — (65,951) — Financial assets derecognized during the period other than write-offs (186,391,684) (6,828,039) (3,235,624) (196,455,347) New financial assets originated or purchased 433,309,384 73,409,888 10,865,788 517,585,060 Foreign exchange and other movements 38,142,622 8,832,400 2,341,712 49,316,734 Inflation Effect (609,878,040) (33,514,972) (9,296,231) (652,689,243) Gross carrying amount as of December 31, 2023 555,690,733 107,383,252 16,107,395 679,181,380 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2022 2,815,090,330 18,604,165 1,266,971 2,834,961,466 Transfers: Transfers from Stage 1 to Stage 2 (8,874,051) 8,874,051 — — Transfers from Stage 1 to Stage 3 (379,878) — 379,878 — Transfers from Stage 2 to Stage 1 12,279 (12,279) — — Transfers from Stage 2 to Stage 3 — — — — Transfers from Stage 3 to Stage 2 — — — — Transfers from Stage 3 to Stage 1 — — — — Financial assets derecognized during the period other than write-offs (633,784,202) (3,525,214) (15,053,546) (652,362,962) New financial assets originated or purchased 3,932,818,920 51,700,540 1,360,741 3,985,880,201 Foreign exchange and other movements (137,572,453) 14,522,625 14,275,868 (108,773,960) Inflation Effect (1,911,101,496) (12,629,949) (860,118) (1,924,591,563) Gross carrying amount as of December 31, 2023 4,056,209,449 77,533,939 1,369,794 4,135,113,182 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2022 1,003,376,463 38,320,153 28,528,005 1,070,224,621 Transfers: Transfers from Stage 1 to Stage 2 (7,125,763) 7,125,763 — — Transfers from Stage 1 to Stage 3 (7,808,405) — 7,808,405 — Transfers from Stage 2 to Stage 1 5,211,980 (5,211,980) — — Transfers from Stage 2 to Stage 3 — (1,638,253) 1,638,253 — Transfers from Stage 3 to Stage 2 — 95,422 (95,422) — Transfers from Stage 3 to Stage 1 591,868 — (591,868) — Financial assets derecognized during the period other than write-offs (4,301,072) (4,144,663) (7,947,536) (16,393,271) New financial assets originated or purchased 596,459,536 15,350,957 8,333,635 620,144,128 Foreign exchange and other movements — — — — Inflation Effect (681,169,708) (26,014,690) (19,367,021) (726,551,419) Gross carrying amount as of December 31, 2023 905,234,899 23,882,709 18,306,451 947,424,059 Stage 1 Stage 2 Stage 3 Retail Portfolio 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2021 1,013,263,121 368,457,533 114,405,389 1,496,126,043 Transfers: Transfers from Stage 1 to Stage 2 (29,466,360) 29,466,360 — — Transfers from Stage 1 to Stage 3 (10,210,991) — 10,210,991 — Transfers from Stage 2 to Stage 1 69,019,503 (69,019,503) — — Transfers from Stage 2 to Stage 3 — (8,429,836) 8,429,836 — Transfers from Stage 3 to Stage 2 — 2,325,284 (2,325,284) — Transfers from Stage 3 to Stage 1 3,647,574 — (3,647,574) — Financial assets derecognized during the period other than write-offs (144,781,295) (71,799,560) (33,216,446) (249,797,301) New financial assets originated or purchased 474,672,163 95,048,103 29,077,253 598,797,519 Foreign exchange and other movements 188,446,903 18,475,323 (1,065,724) 205,856,502 Inflation Effect (490,055,038) (179,304,336) (55,673,667) (725,033,041) Gross carrying amount as of December 31, 2022 1,074,535,580 185,219,368 66,194,774 1,325,949,722 Stage 1 Stage 2 Stage 3 Retail like Portfolio 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2021 938,076,314 103,117,294 22,584,762 1,063,778,370 Transfers: Transfers from Stage 1 to Stage 2 (8,356,366) 8,356,366 — — Transfers from Stage 1 to Stage 3 (955,106) — 955,106 — Transfers from Stage 2 to Stage 1 21,330,916 (21,330,916) — — Transfers from Stage 2 to Stage 3 — (874,261) 874,261 — Transfers from Stage 3 to Stage 2 — 208,363 (208,363) — Transfers from Stage 3 to Stage 1 144,306 — (144,306) — Financial assets derecognized during the period other than write-offs (319,152,595) (17,642,221) (8,211,228) (345,006,044) New financial assets originated or purchased 707,188,377 24,765,188 7,685,538 739,639,103 Foreign exchange and other movements 16,587,359 2,948,890 1,148,300 20,684,549 Inflation Effect (456,500,779) (50,180,486) (10,990,537) (517,671,802) Gross carrying amount as of December 31, 2022 898,362,426 49,368,217 13,693,533 961,424,176 Stage 1 Stage 2 Stage 3 Wholesale Portfolio 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2021 3,013,113,436 105,259,732 4,428,696 3,122,801,864 Transfers: Transfers from Stage 1 to Stage 2 (2,072,542) 2,072,542 — — Transfers from Stage 1 to Stage 3 (796,279) — 796,279 — Transfers from Stage 2 to Stage 1 11,338,645 (11,338,645) — — Transfers from Stage 2 to Stage 3 — (45,690) 45,690 — Transfers from Stage 3 to Stage 2 — — — — Transfers from Stage 3 to Stage 1 — — — — Financial assets derecognized during the period other than write-offs (1,983,948,745) (34,668,726) (3,963,232) (2,022,580,703) New financial assets originated or purchased 2,536,541,266 8,555,259 548,258 2,545,644,783 Foreign exchange and other movements 139,163,791 (7,237) 1,566,440 140,722,994 Inflation Effect (898,249,242) (51,223,070) (2,155,160) (951,627,472) Gross carrying amount as of December 31, 2022 2,815,090,330 18,604,165 1,266,971 2,834,961,466 Stage 1 Stage 2 Stage 3 Naranja X 12-month Lifetime Lifetime Total Gross carrying amount as of December 31, 2021 1,060,467,861 35,451,876 26,877,276 1,122,797,013 Transfers: Transfers from Stage 1 to Stage 2 (15,057,706) 15,057,706 — — Transfers from Stage 1 to Stage 3 (13,984,940) — 13,984,940 — Transfers from Stage 2 to Stage 1 8,999,967 (8,999,967) — — Transfers from Stage 2 to Stage 3 — (3,120,551) 3,120,551 — Transfers from Stage 3 to Stage 2 — 183,777 (183,777) — Transfers from Stage 3 to Stage 1 1,532,892 — (1,532,892) — Financial assets derecognized during the period other than write-offs (15,197,556) (5,626,040) (11,827,184) (32,650,780) New financial assets originated or purchased 492,676,735 22,625,475 11,168,514 526,470,724 Foreign exchange and other movements — — — — Inflation Effect (516,060,790) (17,252,123) (13,079,423) (546,392,336) Gross carrying amount as of December 31, 2022 1,003,376,463 38,320,153 28,528,005 1,070,224,621 |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Contingencies And Commitments [Abstract] | |
Summary of Provisions for Contingencies | The provisions for contingencies recorded are as follows: 12.31.23 12.31.22 Other Contingencies 16,145,865 22,877,301 For Commercial Lawsuits/Legal matters 10,568,289 16,705,092 For Labor Lawsuits 895,153 1,675,878 For Claims and Credit Cards 200 623 For Guarantees Granted 1,142 3,556 For Other Contingencies 4,681,081 4,492,152 For Termination Benefits 4,013,811 8,648,052 Difference for Dollarization of Judicial Deposits—Communication “A” 4686 228,267 409,573 Total 20,387,943 31,934,926 |
Offsetting of Financial Asset_2
Offsetting of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Derivative Financial Asset And Liabilities Offsetting Arrangements [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, 2023 and 2022 are as follows: Offsetting effects on Statement of Related amounts not 12.31.23 Gross Offset Net Subject to Total Net Financial Assets Derivate Instruments 8,085,119 — 8,085,119 (5,781,386) 2,303,733 Total 8,085,119 — 8,085,119 (5,781,386) 2,303,733 Financial Liabilities Derivate Instruments 6,467,498 — 6,467,498 (5,781,386) 686,112 Total 6,467,498 — 6,467,498 (5,781,386) 686,112 Offsetting effects on Statement of Related amounts not 12.31.22 Gross Offset Net Subject to Total Net Financial Assets Derivate Instruments 3,332,990 — 3,332,990 (3,219,046) 113,944 Total 3,332,990 — 3,332,990 (3,219,046) 113,944 Financial Liabilities Derivate Instruments 3,531,185 — 3,531,185 (3,219,046) 312,139 Total 3,531,185 — 3,531,185 (3,219,046) 312,139 |
Off-Balance Sheet Items (Tables
Off-Balance Sheet Items (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of credit risk exposure [abstract] | |
Schedule of Credit Exposure | The credit exposure for these transactions is detailed below. 12.31.23 12.31.22 Agreed Credits 245,830,826 325,154,326 Documentary Export and Import Credits 18,275,456 12,228,262 Guarantees Granted 382,550,036 227,846,478 Liabilities for Foreign Trade Operations 18,315,376 10,411,211 |
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: 12.31.23 12.31.22 For Agreed Credits 278,543 582,980 For Documentary Export and Import Credits 665,035 729,099 For Guarantees Granted 1,809,421 343,374 |
Schedule of Counter-guarantees, Classified by Type | To grant guarantees to our customers, we may require counter-guarantees, which, classified by type, amount to: 12.31.23 12.31.22 Other Preferred Guarantees Received 17,014,335 2,033,143 Other Guarantees Received 11,759,019 14,501,930 |
Schedule of Credit Risk by Probability of Default | The risk of loss in these offsetting transactions is not significant. 12.31.23 12.31.22 Values to be Debited 78,409,730 70,431,752 Values to be Credited 74,255,271 75,573,905 Values for Collection 524,459,464 720,869,685 |
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: 12.31.23 12.31.22 Trust Funds 18,384,835 45,302,843 Securities Held in Escrow 17,190,472,358 10,134,326,343 |
Non-controlling Interest (Table
Non-controlling Interest (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Non Controlling Interests [abstract] | |
Summary of Non-controlling Equity Investment Percentages and Votes | The non-controlling equity investment percentages and votes as of the indicated dates are as follows: Company Place of Business 12.31.23 12.31.22 Galicia Broker Asesores de Seguros S.A. CABA -Argentina 0.01 % 0.01 % Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) CABA -Argentina 0.57 % — % |
Summary of Movements in Group's Significant Non-Controlling Interests | Changes in the Group’s non-controlling interests as of the indicated dates were as follows: Company Balance Purchases / Cash Profit Balance Galicia Broker Asesores de Seguros S.A. 59 — (59) 62 62 Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) — 91,245 — (2,577) 88,668 Total 59 91,245 (59) (2,515) 88,730 Company Balance as Purchases / Cash Profit Balance Galicia Broker Asesores de Seguros S.A. 31 — — 28 59 Total 31 — — 28 59 Company Balance as Purchases / Cash Profit Balance as Galicia Broker Asesores de Seguros S.A. 31 — — — 31 Total 31 — — — 31 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [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: 12.31.23 12.31.22 Regular Directors 95 79 General Manager 1 1 Area and department Managers 96 95 Total 192 175 |
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. 12.31.23 12.31.22 Total Amount of Credit Assistance 18,191,375 17,145,236 Number of Addressees (quantities) 266 279 - Natural Persons 218 219 - Legal Entities 48 60 Average Amount of Credit Assistance 68,389 61,453 Maximum Assistance 4,922,808 2,627,944 |
Summary of Amounts of Related Party Transactions | The amounts of related party transactions conducted as of the indicated dates are as follows: 12.31.23 12.31.22 Assets Cash and Due from Banks 32,925,610 15,722,561 Debt Securities at Fair Value through Profit or Loss 14,192,140 12,636,623 Derivative Financial Instruments 6,460,870 3,865,120 Repurchase Transactions 21,381,414 33,994,862 Other Financial Assets 9,872,423 161,060 Loans and Other Financing 65,878,587 110,405,186 Other Debt Securities — 1,129,230 Total Assets 150,711,044 177,914,642 Liabilities Deposits 42,792,375 22,897,792 Derivative Financial Instruments 6,460,870 3,865,121 Repurchase Transactions 21,381,414 33,994,862 Other Financial Liabilities 7,598,375 233,462 Financing Received from the Argentine Central Bank and other Financial Institutions 57,578,136 102,977,285 Debt Securities Issued 12,017,844 13,765,853 Subordinated Debt Securities 2,174,296 — Liabilities for Insurance Contracts 4,122 13,490 Other Non-financial Liabilities 703,620 166,777 Total Liabilities 150,711,052 177,914,642 12.31.23 12.31.22 12.31.21 Income (Loss) Net Income (Loss) from Interest 2,726,778 6,536,244 (3,431,444) Net Fee Income (Expense) 10,071,566 9,262,528 10,751,388 Net Income from Financial Instruments Measured at Fair Value through Profit or Loss (4,902,244) (7,032,117) 2,055,661 Other Operating Income (Expense) 7,497,114 8,029,042 9,613,987 Income from Insurance Business — — (18,802,510) Insurance Business Result (15,098,338) (15,435,857) — Administrative Expenses (825,369) (1,649,430) (852,450) Other Operating Expenses (1,682) (50,735) (44,427) Total Income (532,175) (340,325) (709,795) |
Additional Information Requir_2
Additional Information Required by the Argentine Central Bank (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Additional information [abstract] | |
Summary of Restricted Assets | a) Cash and Government Securities 12.31.23 12.31.22 For transactions in ROFEX, MAE and BYMA 72,206,286 162,070,719 For appraisals from repo transactions 2,618,547 — For debit / credit cards transactions 21,871,570 24,081,024 For attachments 10,355 31,169 Liquid offsetting entry required to operate as CNV agent 756,300 504,752 For contribution to M.A.E.’ s Joint Guarantee Fund ( Fondo de Garantía Mancomunada ) — 3,426 Guarantees for the Regional Economies Competitiveness Program 135,667 270,307 For other transactions (includes guarantees linked to rental contracts) 185,137 126,137 For forward purchases of repurchase transactions 23,566,923 — For surety guarantees 169,857,361 — 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: 12.31.23 12.31.22 Escrow Accounts 95,090,124 124,639,467 c) Deposits in favor of the Argentine Central Bank 12.31.23 12.31.22 Unavailable deposits due to exchange transactions — 1,660 d) Equity Investments The account “Equity Investments” includes 1,222,406 non-transferablenon-endorsable registered ordinary shares in Electrigal S.A., the transfer of which is subject to approval by the national authorities, according to the terms of the previously executed concession contract. e) Contributions to Risk Fund Banco de Galicia y Buenos Aires S.A.U., in its capacity as sponsoring partner in Garantizar S.G.R. Risk Fund, Don Mario S.G.R. and Móvil S.G.R., is committed to maintaining the contributions made to them for two (2) years. 12.31.23 12.31.22 Fondo de Riesgo Garantizar SGR 3,283,027 3,501,731 Don Mario SGR 800,000 1,557,050 Movil SGR 1,100,000 311,410 Potenciar S.G.R. 1,198,353 — Bind Garantías S.G.R. 50,000 — INVIU S.A.U. 12.31.23 12.31.22 Liquid offsetting entry required to operate as CNV agents 306,071 187,363 Guarantees linked to surety bonds 694,447 197,225 Surety 6,799 — Tarjeta Naranja S.A.U. 12.31.23 12.31.22 Attachments arising from judicial cases 618 540,682 Guarantees linked to rental contracts 7,940 26,535 Galicia Asset Management S.A.U. 12.31.23 12.31.22 Liquid offsetting entry required to operate as collective investment products administration agents of mutual funds, as required by CNV(*) 261,821 306,589 (*) As of December 31, 2023, it corresponds to 6,000,000 shares of Fima Capital Plus “C” Mutual Fund. Galicia Securities S.A.U. 12.31.23 12.31.22 For transactions in the market 198,276 646,074 Liquid offsetting entry required to operate as CNV agents 149,144 186,107 Guarantees linked to surety bonds 11,642,308 1,112,291 Naranja Digital Compañía Financiera S.A.U. 12.31.23 12.31.22 Escrow Accounts 4,872,128 1,737,500 The total amount of restricted assets for the reasons stated above in the aforementioned controlled companies, as of the indicated dates, is as follows: 12.31.23 12.31.22 Total Restricted Assets 410,869,202 322,039,218 |
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 (*) 11.23.11 Exxon Mobil 94,881 04.19.25 09.12.14 Coop. de Trab. Portuarios 7,095 09.12.24 04.26.22 Fondo Anticiclico Agroalim 64,725 06.30.24 03.08.23 Fondo Fiduciario Aceitero 7,874 06.30.24 Total 174,575 ____________________ (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 630,982 12.31.24 05.14.09 GAS II 17,486,720 12.31.24 06.08.11 MILA III 83,143 12.31.24 09.01.11 MILA IV 9,415 12.31.24 Total 18,210,260 (*) 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 12.31.23 12.31.22 FIMA Acciones 28,374,278 11,874,867 FIMA P.B. Acciones 16,307,585 8,042,022 FIMA Renta en pesos 81,129,578 59,391,192 FIMA Ahorro pesos 59,508,744 88,391,734 FIMA Renta Plus 55,316,473 25,860,812 FIMA Premium 2,880,465,837 1,940,896,094 FIMA Ahorro Plus 99,933,201 161,119,964 FIMA Capital Plus 224,333,912 100,252,263 FIMA Abierto PyMES 6,797,941 4,477,666 FIMA Mix I 18,612,135 8,427,015 FIMA Mix II 4,212,316 — FIMA Renta Fija Internacional 4,756,860 3,551,354 FIMA Sustentable ASG 3,660,258 — FIMA Acciones Latinoamericanas Dólares (*) 530,434 344,155 Total 3,483,939,552 2,412,629,138 ____________________ (*) Stated at the reference exchange rate of the US$ set by the Argentine Central Bank. See Note 1.6.(b). |
Summary of Compliance with Minimum Cash Requirements | As of December 31, 2023, the balances recorded as computable items are as follows: Currency Item Ps. US$ Euros (*) Checking Accounts held in Argentine Central Bank 28,983,870 770,556 28 Escrow Accounts held in Argentine Central Bank 43,849,639 4,203 — National Treasury Bonds in Argentine Pesos computable for minimum cash 116,211,931 — — Government Securities 249,256,424 — — Total for integration Minimum Cash 438,301,864 774,759 28 ____________________ (*) Stated in thousands of US$. |
Schedule of Plan for Distribution of Profit | Shareholders’ equity under the rules of the Argentine Central Bank comprise the following captions: 12.31.23 Share Capital 1,474,692 Additional paid in Capital 17,281,187 Adjustments to shareholders´ equity 716,519,943 Legal reserve 24,189,511 Distributable reserves 919,958,408 Non distributable reserves 2,205,317 Profit for the year 336,243,903 Total Shareholder’s equity under the rules of the Argentine Central Bank 2,017,872,961 |
Summary of Percentage of Women in the Group | As of December 31, 2023, the percentage (%) of women in the Group is as follows: Conformation of women in the Group Total Women % of women Regular and Alternate Directors (1) 15 2 13 % Regular and Alternate Trustees (2) 6 1 17 % General, area and department Managers 97 21 22 % Rest of collaborators 9,338 4,780 51 % Total 9,456 4,804 51 % (1) It corresponds to the Board of Directors of Grupo Financiero Galicia S.A. (2) It corresponds to the Supervisory Committee of Grupo Financiero Galicia S.A. |
Accounting Policies and Basis_4
Accounting Policies and Basis for Preparation - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of changes in accounting estimates [line items] | ||
Reference exchange rate, U.S. Dollars | 808.48 | 177.13 |
Legal reserve as percentage of net income | 5% | |
Percentage of legal reserves equal to capital stock | 20% | |
Net income percentage appropriated to legal reserve | 20% | |
Galicia Broker Asesores de Seguros S.A. | ||
Disclosure of changes in accounting estimates [line items] | ||
Risk adjustment confidence level | 64% | |
Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) | ||
Disclosure of changes in accounting estimates [line items] | ||
Risk adjustment confidence level | 67% |
Accounting Policies and Basis_5
Accounting Policies and Basis for Preparation - Summary of Yield Curves (Details) | Dec. 31, 2023 |
Q1 | 2024 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 74% |
Q1 | 2025 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 10.90% |
Q1 | 2026 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 7% |
Q1 | 2027 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q1 | 2028 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q2 | 2024 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 30% |
Q2 | 2025 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 9% |
Q2 | 2026 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 7% |
Q2 | 2027 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q2 | 2028 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q3 | 2024 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 13.10% |
Q3 | 2025 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 9.10% |
Q3 | 2026 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 7% |
Q3 | 2027 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q3 | 2028 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q4 | 2024 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 9% |
Q4 | 2025 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 9.60% |
Q4 | 2026 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 7% |
Q4 | 2027 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Q4 | 2028 | |
Disclosure of changes in accounting estimates [line items] | |
Yield curves | 5.50% |
Financial Instruments - Schedul
Financial Instruments - Schedule of Portfolios of Financial Instruments (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | $ 598,794,865 | $ 2,467,190,345 |
Deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 5,707,779,943 | 6,670,282,388 |
Fair Value through OCI | 0 | 0 |
Liabilities at fair value through profit or loss | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 49,485,078 | 243,592 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | 0 | 0 |
Derivative Financial Instruments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 12,238,747 | 5,275,600 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | 0 | 0 |
Repurchase Transactions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | |
Amortized Cost | 23,346,266 | |
Fair Value through OCI | 0 | |
Other Financial Liabilities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 1,273,329,296 | 1,086,252,228 |
Fair Value through OCI | 0 | 0 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 138,128,699 | 116,684,862 |
Fair Value through OCI | 0 | 0 |
Debt Securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 92,715,512 | 209,587,705 |
Fair Value through OCI | 0 | 0 |
Subordinated Debt Securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 205,612,893 | 141,394,653 |
Fair Value through OCI | 0 | 0 |
Cash and Due from Banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 1,995,884,822 | 1,393,686,854 |
Fair Value through OCI | 0 | 0 |
Argentine Central Bank's Bills | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 2,242,639,562 |
Amortized Cost | 316,319,663 | 0 |
Fair Value through OCI | 0 | 0 |
Government Securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 572,828,611 | 220,650,695 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | 0 | 0 |
Corporate Securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 25,966,254 | 3,900,088 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | 0 | 0 |
Derivative Financial Instruments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 35,290,286 | 10,362,961 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | 0 | 0 |
Repurchase Transactions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 1,170,165,239 | 359,750,280 |
Fair Value through OCI | 0 | 0 |
Other Financial Assets | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 49,300,833 | 32,881,802 |
Amortized Cost | 128,802,703 | 141,558,441 |
Fair Value through OCI | 0 | 0 |
Loans and Other Financing | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 3,080,706,325 | 3,871,626,785 |
Fair Value through OCI | 0 | 0 |
Other Debt Securities | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 0 | 0 |
Amortized Cost | 1,588,686,366 | 1,130,358,620 |
Fair Value through OCI | 21,328,319 | 11,495,275 |
Financial Assets Pledged as Collateral | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 36,054,319 | 2,263,880 |
Amortized Cost | 395,502,883 | 471,395,656 |
Fair Value through OCI | 0 | 0 |
Investments in Equity Instruments | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair Value through Profit or Loss | 9,637,518 | 6,972,539 |
Amortized Cost | 0 | 0 |
Fair Value through OCI | $ 0 | $ 0 |
Fair Values - Schedule of Finan
Fair Values - Schedule of Financial Instruments Measured at Fair Value (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 10,216,057,804 | $ 10,488,176,207 | |
Liabilities | 8,198,813,805 | 8,592,294,336 | |
Other Debt Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,905,006,029 | 1,130,358,620 | |
Other Financial Assets | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 128,802,703 | 141,558,441 | |
Financial Assets Pledged as Collateral | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 395,502,883 | 471,395,656 | |
Fair Value Level 1 | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 646,357,993 | 254,636,284 | |
Fair Value Level 1 | Liabilities at fair value through profit or loss | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 49,485,078 | 243,592 | |
Fair Value Level 1 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 0 | 0 | |
Fair Value Level 1 | Argentine Central Bank's Bills | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | ||
Fair Value Level 1 | Government Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 571,896,244 | 215,084,330 | |
Fair Value Level 1 | Corporate Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 25,241,227 | 1,412,278 | |
Fair Value Level 1 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 20,656 | 1,915 | |
Fair Value Level 1 | Other Debt Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 10,641,603 | 2,897,323 | |
Fair Value Level 1 | Other Financial Assets | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 49,279,292 | 32,881,802 | |
Fair Value Level 1 | Financial Assets Pledged as Collateral | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 36,054,319 | 2,263,880 | |
Fair Value Level 1 | Investments in Equity Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,709,730 | 338,348 | |
Fair Value Level 2 | |||
Disclosure of fair value measurement of assets [line items] | |||
Total | 35,148,357 | 2,262,431,716 | |
Fair Value Level 2 | Liabilities at fair value through profit or loss | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 0 | 0 | |
Fair Value Level 2 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 12,238,747 | 5,275,600 | |
Fair Value Level 2 | Argentine Central Bank's Bills | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 2,242,639,562 | ||
Fair Value Level 2 | Government Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 932,367 | 5,566,365 | |
Fair Value Level 2 | Corporate Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 476,850 | 542,391 | |
Fair Value Level 2 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 35,269,630 | 10,361,046 | |
Fair Value Level 2 | Other Debt Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 10,686,716 | 8,597,952 | |
Fair Value Level 2 | Other Financial Assets | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 21,541 | 0 | |
Fair Value Level 2 | Financial Assets Pledged as Collateral | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Fair Value Level 2 | Investments in Equity Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Fair Value Level 3 | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 7,175,965 | 8,579,610 | $ 53,615,410 |
Total | 7,175,965 | 8,579,610 | |
Fair Value Level 3 | Liabilities at fair value through profit or loss | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 0 | 0 | |
Fair Value Level 3 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Liabilities | 0 | 0 | |
Fair Value Level 3 | Argentine Central Bank's Bills | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | ||
Fair Value Level 3 | Government Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | 10,480,898 |
Fair Value Level 3 | Corporate Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 248,177 | 1,945,419 | 2,051,529 |
Fair Value Level 3 | Derivative Financial Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Fair Value Level 3 | Other Debt Securities | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Fair Value Level 3 | Other Financial Assets | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | 33,880,513 |
Fair Value Level 3 | Financial Assets Pledged as Collateral | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 0 | 0 | |
Fair Value Level 3 | Investments in Equity Instruments | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | $ 6,927,788 | $ 6,634,191 | $ 7,202,470 |
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, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | $ 10,488,176,207 | |
Ending balance | 10,216,057,804 | $ 10,488,176,207 |
Fair Value Level 3 | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 8,579,610 | 53,615,410 |
Transfers | (3,315,797) | |
Transfers | 4,606,313 | |
Recognition | 11,799,299 | 9,454,078 |
Derecognition | (17,132,686) | (34,099,062) |
Income (Loss) | 13,190,373 | 8,608,590 |
Inflation Effect | (13,866,944) | (25,683,609) |
Ending balance | 7,175,965 | 8,579,610 |
Government Securities | Fair Value Level 3 | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 0 | 10,480,898 |
Transfers | (5,047,541) | |
Transfers | 2,749,897 | |
Recognition | 1,062,060 | 4,304,669 |
Derecognition | (4,985,512) | (9,183,047) |
Income (Loss) | 1,600,754 | 3,756,809 |
Inflation Effect | (427,199) | (4,311,788) |
Ending balance | 0 | 0 |
Corporate Securities | Fair Value Level 3 | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 1,945,419 | 2,051,529 |
Transfers | 1,856,416 | 1,731,744 |
Recognition | 9,933,303 | 5,149,409 |
Derecognition | (9,540,392) | (7,522,945) |
Income (Loss) | 1,349,458 | 816,028 |
Inflation Effect | (5,296,027) | (280,346) |
Ending balance | 248,177 | 1,945,419 |
Other Financial Assets | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 141,558,441 | |
Ending balance | 128,802,703 | 141,558,441 |
Other Financial Assets | Fair Value Level 3 | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 0 | 33,880,513 |
Transfers | 0 | |
Recognition | 0 | |
Derecognition | (17,393,070) | |
Income (Loss) | 0 | |
Inflation Effect | (16,487,443) | |
Ending balance | 0 | 0 |
Investments in Equity Instruments | Fair Value Level 3 | ||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | ||
Beginning balance | 6,634,191 | 7,202,470 |
Transfers | 0 | 0 |
Recognition | 803,936 | 0 |
Derecognition | (2,606,782) | 0 |
Income (Loss) | 10,240,161 | 4,035,753 |
Inflation Effect | (8,143,718) | (4,604,032) |
Ending balance | $ 6,927,788 | $ 6,634,191 |
Fair Values - Summary of Assets
Fair Values - Summary of Assets and Liabilities Recorded at Amortized Cost (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | $ 10,216,057,804 | $ 10,488,176,207 | |
Liabilities | 8,198,813,805 | 8,592,294,336 | |
Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 7,175,965 | 8,579,610 | $ 53,615,410 |
Deposits | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 5,707,779,943 | 6,670,282,388 | |
Deposits | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 5,708,459,474 | 6,670,131,209 | |
Deposits | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Deposits | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Deposits | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 5,708,459,474 | 6,670,131,209 | |
Repurchase Transactions | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 23,346,266 | ||
Repurchase Transactions | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 23,346,266 | ||
Repurchase Transactions | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | ||
Repurchase Transactions | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | ||
Repurchase Transactions | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 23,346,266 | ||
Financing Received from the Argentine Central Bank and Other Financial Institutions | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 138,128,699 | 116,684,862 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 137,743,790 | 115,342,645 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 137,743,790 | 115,342,645 | |
Debt Securities | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 92,715,512 | 209,587,705 | |
Debt Securities | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 91,166,210 | 205,194,182 | |
Debt Securities | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 75,714,905 | 185,328,632 | |
Debt Securities | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Debt Securities | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 15,451,305 | 19,865,550 | |
Subordinated Debt Securities | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 205,612,893 | 141,394,653 | |
Subordinated Debt Securities | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 201,085,205 | 139,132,579 | |
Subordinated Debt Securities | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Subordinated Debt Securities | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Subordinated Debt Securities | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 201,085,205 | 139,132,579 | |
Other Financial Liabilities | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Liabilities | 1,273,329,296 | 1,086,252,228 | |
Other Financial Liabilities | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 1,272,854,309 | 1,085,225,226 | |
Other Financial Liabilities | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Other Financial Liabilities | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 0 | 0 | |
Other Financial Liabilities | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Liabilities at Fair Value | 1,272,854,309 | 1,085,225,226 | |
Cash and Due from Banks | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 1,995,884,822 | 1,393,686,854 | |
Cash and Due from Banks | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,995,884,822 | 1,393,686,854 | |
Cash and Due from Banks | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,995,884,822 | 1,393,686,854 | |
Cash and Due from Banks | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Cash and Due from Banks | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Repurchase Transactions | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 1,170,165,239 | 359,750,280 | |
Repurchase Transactions | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,170,165,239 | 359,750,280 | |
Repurchase Transactions | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,170,165,239 | 359,750,280 | |
Repurchase Transactions | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Repurchase Transactions | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Loans and Other Financing | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 3,080,706,325 | 3,871,626,785 | |
Loans and Other Financing | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 3,084,867,731 | 3,882,225,090 | |
Loans and Other Financing | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Loans and Other Financing | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Loans and Other Financing | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 3,084,867,731 | 3,882,225,090 | |
Other Financial Assets | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 128,802,703 | 141,558,441 | |
Other Financial Assets | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 49,279,292 | 32,881,802 | |
Other Financial Assets | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 21,541 | 0 | |
Other Financial Assets | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 0 | 0 | $ 33,880,513 |
Other Financial Assets | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 136,564,439 | 145,866,952 | |
Other Financial Assets | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 101,665,092 | 120,896,437 | |
Other Financial Assets | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Other Financial Assets | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 34,899,347 | 24,970,515 | |
Other Debt Securities | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 1,905,006,029 | 1,130,358,620 | |
Other Debt Securities | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 10,641,603 | 2,897,323 | |
Other Debt Securities | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 10,686,716 | 8,597,952 | |
Other Debt Securities | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 0 | 0 | |
Other Debt Securities | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,905,434,511 | 1,109,609,241 | |
Other Debt Securities | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 1,610,412,185 | 0 | |
Other Debt Securities | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 26,543,350 | 0 | |
Other Debt Securities | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 268,478,976 | 1,109,609,241 | |
Financial Assets Pledged as Collateral | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 395,502,883 | 471,395,656 | |
Financial Assets Pledged as Collateral | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 36,054,319 | 2,263,880 | |
Financial Assets Pledged as Collateral | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 0 | 0 | |
Financial Assets Pledged as Collateral | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Assets | 0 | 0 | |
Financial Assets Pledged as Collateral | Fair Value | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 395,560,476 | 471,395,656 | |
Financial Assets Pledged as Collateral | Fair Value | Fair Value Level 1 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 395,560,476 | 471,395,656 | |
Financial Assets Pledged as Collateral | Fair Value | Fair Value Level 2 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | 0 | 0 | |
Financial Assets Pledged as Collateral | Fair Value | Fair Value Level 3 | |||
Disclosure of reconciliation of changes in fair value measurement assets liabilities [line items] | |||
Financial Assets at Fair Value | $ 0 | $ 0 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and cash equivalents [abstract] | ||||
Net cash and Due from Banks | $ 1,995,884,822 | $ 1,393,686,854 | $ 1,440,233,266 | |
Argentine Central Bank's Bills and Notes Maturing up to 90 Days | 26,543,350 | 2,242,639,562 | 1,101,389,597 | |
Reverse repurchase Transactions Debtors | 1,160,625,855 | 358,375,689 | 1,228,501,588 | |
Loans to Financial Institutions | 6,000,000 | 16,407,135 | 39,929,501 | |
Overnight Placements in Foreign Banks | 17,579,519 | 78,447,226 | 34,065,960 | |
Mutual Funds | 48,786,211 | 32,881,801 | 26,945,400 | |
Time Deposits | 11,919,770 | 9,122,151 | 23,070,025 | |
Total Cash and Cash Equivalents | $ 3,267,339,527 | $ 4,131,560,418 | $ 3,894,135,337 | $ 3,468,524,927 |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Summary of Cash and Cash Equivalent Rollforward (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Liabilities Arising From Financing Activities [Roll Forward] | |||
Beginning balance, Other differences to cash and cash equivalents in statement of cash flows | $ 491,569,311 | $ 499,525,875 | $ 521,160,062 |
Ending balance, Other differences to cash and cash equivalents in statement of cash flows | 465,917,920 | 491,569,311 | 499,525,875 |
Cash flow payments | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | (499,288,694) | (293,475,976) | (221,655,941) |
Cash flow receipts | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 448,800,511 | 443,649,515 | 284,466,240 |
Other movements | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 24,836,792 | (158,130,103) | (84,444,487) |
Lease Liabilities | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Beginning balance, Other differences to cash and cash equivalents in statement of cash flows | 23,902,091 | 26,578,829 | 39,951,919 |
Ending balance, Other differences to cash and cash equivalents in statement of cash flows | 29,460,816 | 23,902,091 | 26,578,829 |
Lease Liabilities | Cash flow payments | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | (6,372,889) | (8,331,048) | (10,531,399) |
Lease Liabilities | Cash flow receipts | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 0 | 0 | 0 |
Lease Liabilities | Other movements | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 11,931,614 | 5,654,310 | (2,841,691) |
Debt Securities | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Beginning balance, Other differences to cash and cash equivalents in statement of cash flows | 209,587,705 | 169,677,031 | 156,330,866 |
Ending balance, Other differences to cash and cash equivalents in statement of cash flows | 92,715,512 | 209,587,705 | 169,677,031 |
Debt Securities | Cash flow payments | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | (157,188,276) | (124,998,913) | (103,467,999) |
Debt Securities | Cash flow receipts | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 75,020,756 | 209,971,829 | 144,871,361 |
Debt Securities | Other movements | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | (34,704,673) | (45,062,242) | (28,057,198) |
Subordinated Debt Securities | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Beginning balance, Other differences to cash and cash equivalents in statement of cash flows | 141,394,653 | 159,387,627 | 198,262,734 |
Ending balance, Other differences to cash and cash equivalents in statement of cash flows | 205,612,893 | 141,394,653 | 159,387,627 |
Subordinated Debt Securities | Cash flow payments | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 0 | 0 | 0 |
Subordinated Debt Securities | Cash flow receipts | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 0 | 0 | 0 |
Subordinated Debt Securities | Other movements | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 64,218,240 | (17,992,974) | (38,875,107) |
Financing Received from the Argentine Central Bank and Other Financial Institutions | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Beginning balance, Other differences to cash and cash equivalents in statement of cash flows | 116,684,862 | 143,882,388 | 126,614,543 |
Ending balance, Other differences to cash and cash equivalents in statement of cash flows | 138,128,699 | 116,684,862 | 143,882,388 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Cash flow payments | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | (335,727,529) | (160,146,015) | (107,656,543) |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Cash flow receipts | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | 373,779,755 | 233,677,686 | 139,594,879 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | Other movements | |||
Liabilities Arising From Financing Activities [Roll Forward] | |||
Differences to cash and cash equivalents in statement of cash flows | $ (16,608,389) | $ (100,729,197) | $ (14,670,491) |
Derivative Financial Instrume_3
Derivative Financial Instruments - Summary of Derivative Instrument Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 138,128,699 | $ 116,684,862 |
Foreign currency | Currency Forward Purchases | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 652,431,194 | 533,067,085 |
Foreign currency | Currency Forward Sales | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 590,737,106 | 416,301,506 |
Foreign currency | Currency Forward by Customers Purchases | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 84,103,301 | 50,021,964 |
Foreign currency | Forward Currency Customer Sales | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 54,639,485 | 244,301,445 |
Foreign currency | Put Options Taken | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 0 | 116,093,355 |
Government Securities | Currency Forward Purchases | Repurchase Transaction | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 23,566,922 | 0 |
Government Securities | Currency Forward Sales | Repurchase Transaction | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | 1,205,775,644 | 392,985,152 |
Government Securities | Put Options Taken | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional Amount | $ 2,464,070,256 | $ 781,066,913 |
Repurchase Transactions - Summa
Repurchase Transactions - Summary of Repo Transactions and Reverse Repurchase Transactions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of repurchase transactions [Abstract] | ||
Debtors for Reserve Repurchase Transactions of Government Securities | $ 1,160,625,855 | $ 358,375,689 |
Interest Accrued Receivable for Reserve Repurchase Transactions | 9,539,384 | 1,374,591 |
Total Repurchase Transactions—Assets | 1,170,165,239 | 359,750,280 |
Creditors for Repurchase Transactions of Government Securities | 23,189,189 | 0 |
Interest Accrued Payable for Repurchase Transactions | 157,077 | 0 |
Total Repurchase Transactions—Liabilities | $ 23,346,266 | $ 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, 2023 | Dec. 31, 2022 | |
Disclosure of repurchase transactions [Abstract] | ||
Reverse Repurchase Transactions recorded in Off-Balance Sheet Items | $ 1,167,219,902 | $ 358,376,116 |
Forward purchases for Repurchase transactions recorded in Financial Assets Pledged as Collateral | $ 18,891,202 | $ 0 |
Other Financial Assets - Summar
Other Financial Assets - Summary of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ (178,103,536) | $ (174,440,243) |
Receivables from Spot Sales of Foreign Currency Pending Settlement | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (11,631,346) | (3,598,798) |
Receivables from Spot Sales of Government Securities Pending Settlement | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (31,875,354) | (71,415,423) |
Sundry Debtors | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (68,945,190) | (58,019,662) |
Mutual Funds | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (49,245,412) | (32,881,801) |
Premiums from financial guarantee contracts | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (5,555,688) | (1,512,358) |
Interest accrued receivable | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (11,359,506) | (7,091,326) |
Fiduciary Participation Certificates | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (55,421) | 0 |
Balances from claims pending recovery | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | (3,924) | (48,885) |
Minus: Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ (568,305) | $ (128,010) |
Other Financial Assets - Summ_2
Other Financial Assets - Summary of Credit Rating Quality Analysis of Other Financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ 178,103,536 | $ 174,440,243 |
Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 568,305 | $ 128,010 |
Debtors for Sale of Foreign Currency | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 11,631,346 | |
Debtors for Sale of Foreign Currency | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Debtors for Cash sale of Government Securities to be Settled | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 31,875,354 | |
Debtors for Cash sale of Government Securities to be Settled | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Sundry Debtors | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 68,376,885 | |
Sundry Debtors | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 568,305 | |
Mutual Funds | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 49,245,412 | |
Mutual Funds | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Premiums from financial guarantee contracts | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 5,555,688 | |
Premiums from financial guarantee contracts | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Interest accrued receivable | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 11,359,506 | |
Interest accrued receivable | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Fiduciary Participation Certificates | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 55,421 | |
Fiduciary Participation Certificates | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Balances from claims pending recovery | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 3,924 | |
Balances from claims pending recovery | Allowances | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Not yet due | Debtors for Sale of Foreign Currency | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 11,631,346 | |
Not yet due | Debtors for Cash sale of Government Securities to be Settled | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 31,875,354 | |
Not yet due | Sundry Debtors | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 68,908,835 | |
Not yet due | Mutual Funds | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 49,245,412 | |
Not yet due | Premiums from financial guarantee contracts | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 5,555,688 | |
Not yet due | Interest accrued receivable | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 11,359,506 | |
Not yet due | Fiduciary Participation Certificates | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 55,421 | |
Not yet due | Balances from claims pending recovery | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 3,924 | |
Impaired/Uncollectible | Debtors for Sale of Foreign Currency | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Debtors for Cash sale of Government Securities to be Settled | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Sundry Debtors | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 36,355 | |
Impaired/Uncollectible | Mutual Funds | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Premiums from financial guarantee contracts | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Interest accrued receivable | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Fiduciary Participation Certificates | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | 0 | |
Impaired/Uncollectible | Balances from claims pending recovery | ||
Disclosure of other financial assets [line items] | ||
Other Financial Assets | $ 0 |
Loans and Other Financing - Sum
Loans and Other Financing - Summary of Net Loans and Other Financing (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of loans and other financing [line items] | ||
Non-financial Public Sector | $ 460,847 | $ 4,000,190 |
Argentine Central Bank (BCRA) | 40,796 | 11,466 |
Financial Institutions | 27,298,507 | 42,528,958 |
Loans | 27,298,507 | 42,528,958 |
Non-financial Private Sector and Residents Abroad | 3,186,083,159 | 4,040,454,535 |
Loans | 3,073,592,568 | 3,965,964,937 |
Financial Leases | 6,393,224 | 10,831,446 |
Other Financing | 106,097,367 | 63,658,152 |
Less: Allowances | (133,176,984) | (215,368,364) |
Loans and Other Financing | 3,080,706,325 | 3,871,626,785 |
Advances | ||
Disclosure of loans and other financing [line items] | ||
Loans | 119,850,633 | 206,971,837 |
Notes | ||
Disclosure of loans and other financing [line items] | ||
Loans | 703,859,191 | 971,361,949 |
Mortgage Loans | ||
Disclosure of loans and other financing [line items] | ||
Loans | 37,915,833 | 60,415,652 |
Pledge Loans | ||
Disclosure of loans and other financing [line items] | ||
Loans | 45,092,352 | 79,761,541 |
Personal Loans | ||
Disclosure of loans and other financing [line items] | ||
Loans | 255,726,017 | 354,443,305 |
Credit Card Loans | ||
Disclosure of loans and other financing [line items] | ||
Loans | 1,706,968,422 | 2,025,688,014 |
Other Loans | ||
Disclosure of loans and other financing [line items] | ||
Loans | 49,632,674 | 117,074,306 |
Accrued Interest, Adjustments and Quotation Differences Receivable | ||
Disclosure of loans and other financing [line items] | ||
Loans | 167,597,009 | 166,990,268 |
Documented Interest | ||
Disclosure of loans and other financing [line items] | ||
Loans | $ (13,049,563) | $ (16,741,935) |
Financial Assets Pledged as C_3
Financial Assets Pledged as Collateral - Summary of Financial Assets Pledged as Collateral (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets pledged as collateral [abstract] | ||
Deposits as Collateral | $ 286,828,739 | $ 313,106,746 |
Special Accounts as Collateral—Argentine Central Bank | 97,974,572 | 126,369,430 |
Forward Purchases of monetary regulatory instruments | 46,761,090 | 34,682,973 |
Less: Allowances | (7,199) | (499,613) |
Financial Assets Pledged as Collateral | $ 431,557,202 | $ 473,659,536 |
Current Income Tax Assets - Sum
Current Income Tax Assets - Summary of Current Income Tax Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Major components of tax expense (income) [abstract] | ||
Tax Advances | $ 2,045,887 | $ 1,277,544 |
Total | $ 2,045,887 | $ 1,277,544 |
Investments In Equity Instrum_2
Investments In Equity Instruments - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | |
Oct. 01, 2021 | Mar. 31, 2022 | |
Investments In Equity Instruments [Line Items] | ||
Percentage of share capital | 7.40% | |
Sale Shares Of Prisma Medios De Pago | ||
Investments In Equity Instruments [Line Items] | ||
Sale price of shares | $ 54,358 | |
Sale Shares Of Prisma Medios De Pago | Tranche One | ||
Investments In Equity Instruments [Line Items] | ||
Percentage of payment in pesos | 30% | |
Nominal annual rate | 15% | |
Sale Shares Of Prisma Medios De Pago | Tranche Two | ||
Investments In Equity Instruments [Line Items] | ||
Nominal annual rate | 10% | |
Percentage of payment in USD | 70% | |
Payment term | 6 years | |
AL ZENITH | ||
Investments In Equity Instruments [Line Items] | ||
Percentage of capital stock and votes sold | 49% |
Equity Investments in Subsidi_3
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Equity Investments in Subsidiaries (Detail) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Agri Tech Investments Argentina S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 199,937 | 199,937 |
Equity Investment % | 100% | 100% |
Agri Tech Investments LLC | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,180,032,017 | 199,997,240 |
Equity Investment % | 100% | 100% |
Banco de Galicia y Buenos Aires S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 668,549,353 | 668,549,353 |
Equity Investment % | 100% | 100% |
Cobranzas Regionales S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 0 | 3,910,000 |
Equity Investment % | 0% | 100% |
Galicia Asset Management S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 20,000 | 20,000 |
Equity Investment % | 100% | 100% |
Galicia Broker Asesores de Seguros S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 71,310 | 71,308 |
Equity Investment % | 99.99% | 99.99% |
Galicia Capital US LLC | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,000 | 0 |
Equity Investment % | 100% | 0% |
Galicia Holdings US Inc. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,000 | 0 |
Equity Investment % | 100% | 0% |
Galicia Investments LLC | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 10,237,394 | 0 |
Equity Investment % | 100% | 0% |
Galicia Retiro Compañía de Seguros S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 27,727,278 | 27,727,278 |
Equity Investment % | 100% | 100% |
Galicia Securities S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 95,392,000 | 95,392,000 |
Equity Investment % | 100% | 100% |
Galicia Seguros S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 18,308,870 | 18,308,870 |
Equity Investment % | 100% | 100% |
Galicia Ventures LP | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 350,371,489 | 0 |
Equity Investment % | 100% | 0% |
Galicia Warrants S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,000,000 | 1,000,000 |
Equity Investment % | 100% | 100% |
Nera Uruguay SA | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 40 | 0 |
Equity Investment % | 100% | 0% |
IGAM LLC | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 4,750,561,179 | 3,503,311,179 |
Equity Investment % | 100% | 100% |
INVIU S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 809,611,333 | 2,469,146 |
Equity Investment % | 100% | 100% |
INVIU Capital Markets Limited | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1 | 0 |
Equity Investment % | 100% | 0% |
INVIU Technology Limited | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1 | 0 |
Equity Investment % | 100% | 0% |
INVIU Uruguay Agente de Valores S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 40,000,000 | 40,000,000 |
Equity Investment % | 100% | 100% |
Naranja Digital Compañía Financiera S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,712,567,500 | 1,712,567,500 |
Equity Investment % | 100% | 100% |
Sudamericana Holding S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 32,717,429 | 185,653 |
Equity Investment % | 100% | 100% |
Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 4,512,697,946 | 0 |
Equity Investment % | 99.43% | 0% |
Tarjeta Naranja S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 2,896 | 2,824 |
Equity Investment % | 100% | 100% |
Tarjetas Regionales S.A. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 1,756,704,458 | 1,756,704,458 |
Equity Investment % | 100% | 100% |
Well Assistance S.A.U. | ||
Disclosure of subsidiaries [line items] | ||
Direct and Indirect Shareholding | 100,000 | 100,000 |
Equity Investment % | 100% | 100% |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 10,216,057,804 | $ 10,488,176,207 | ||
Liabilities | 8,198,813,805 | 8,592,294,336 | ||
Shareholders’ Equity | 2,017,243,999 | 1,895,881,871 | $ 1,846,912,941 | $ 1,669,471,836 |
Net Income for the Year | 337,169,628 | 151,257,454 | $ 188,618,946 | |
Agri Tech Investments Argentina S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 2,787,696 | 922,371 | ||
Liabilities | 904,641 | 248,385 | ||
Shareholders’ Equity | 1,883,055 | 673,986 | ||
Net Income for the Year | (781,476) | 19,338 | ||
Agri Tech Investments LLC | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,303,364 | 674,194 | ||
Liabilities | 0 | 0 | ||
Shareholders’ Equity | 1,303,364 | 674,194 | ||
Net Income for the Year | (1,371,520) | 19,357 | ||
Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 8,662,949,001 | 9,131,354,980 | ||
Liabilities | 7,011,484,525 | 7,569,680,665 | ||
Shareholders’ Equity | 1,651,464,476 | 1,561,674,315 | ||
Net Income for the Year | 281,633,788 | (126,628,917) | ||
Cobranzas Regionales S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 0 | 12,601,303 | ||
Liabilities | 0 | 2,556,644 | ||
Shareholders’ Equity | 0 | 10,044,659 | ||
Net Income for the Year | (3,714,620) | (10,905,321) | ||
Galicia Asset Management S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 28,776,139 | 22,723,599 | ||
Liabilities | 9,539,077 | 8,228,941 | ||
Shareholders’ Equity | 19,237,062 | 14,494,658 | ||
Net Income for the Year | 24,701,384 | 19,072,952 | ||
Galicia Broker Asesores de Seguros S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,642,905 | 1,207,243 | ||
Liabilities | 537,029 | 509,737 | ||
Shareholders’ Equity | 1,105,876 | 697,506 | ||
Net Income for the Year | 1,467,113 | 183,843 | ||
Galicia Capital US LLC | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 40,424 | |||
Liabilities | 0 | |||
Shareholders’ Equity | 40,424 | |||
Net Income for the Year | (15,658) | |||
Galicia Holdings US Inc. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 40,432 | |||
Liabilities | 40,424 | |||
Shareholders’ Equity | 8 | |||
Net Income for the Year | 4 | |||
Galicia Investments LLC | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 7,992 | |||
Liabilities | 0 | |||
Shareholders’ Equity | 7,992 | |||
Net Income for the Year | (7,201) | |||
Galicia Retiro Compaa de Seguros S.A | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 3,880,873 | 3,770,057 | ||
Liabilities | 3,095,041 | 3,091,618 | ||
Shareholders’ Equity | 785,832 | 678,439 | ||
Net Income for the Year | 108,782 | 181,703 | ||
Galicia Securities S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 57,941,669 | 16,479,976 | ||
Liabilities | 46,618,845 | 10,224,949 | ||
Shareholders’ Equity | 11,322,824 | 6,255,027 | ||
Net Income for the Year | 12,781,876 | 4,482,657 | ||
Galicia Seguros S A U | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 22,906,960 | 36,416,717 | ||
Liabilities | 8,789,124 | 22,306,927 | ||
Shareholders’ Equity | 14,117,836 | 14,109,790 | ||
Net Income for the Year | 7,052,093 | 7,422,669 | ||
Galicia Ventures LP | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 799,228 | |||
Liabilities | 0 | |||
Shareholders’ Equity | 799,228 | |||
Net Income for the Year | 220,112 | |||
Galicia Warrants S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 5,580,177 | 5,878,564 | ||
Liabilities | 1,897,173 | 1,949,904 | ||
Shareholders’ Equity | 3,683,004 | 3,928,660 | ||
Net Income for the Year | 167,512 | 270,679 | ||
Nera Uruguay SA | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 0 | |||
Liabilities | 529 | |||
Shareholders’ Equity | (529) | |||
Net Income for the Year | 258 | |||
IGAM LLC | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 11,994,962 | 7,925,536 | ||
Liabilities | 2,250 | 1,532 | ||
Shareholders’ Equity | 11,992,712 | 7,924,004 | ||
Net Income for the Year | 1,491,039 | (7,826,988) | ||
INVIU S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 49,930,173 | 16,765,655 | ||
Liabilities | 42,180,270 | 9,574,374 | ||
Shareholders’ Equity | 7,749,903 | 7,191,281 | ||
Net Income for the Year | 558,616 | (7,499,677) | ||
INVIU Capital Markets Limited | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 18,206 | |||
Liabilities | 17 | |||
Shareholders’ Equity | 18,189 | |||
Net Income for the Year | 9,403 | |||
INVIU Technology Limited | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 2,790 | |||
Liabilities | 0 | |||
Shareholders’ Equity | 2,790 | |||
Net Income for the Year | (2,460) | |||
INVIU Uruguay Agente de Valores S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,859,603 | 13,225,498 | ||
Liabilities | 1,159,691 | 12,947,268 | ||
Shareholders’ Equity | 699,912 | 278,230 | ||
Net Income for the Year | (372,663) | (241,241) | ||
Naranja Digital Compañía Financiera S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 245,802,363 | 100,603,593 | ||
Liabilities | 230,814,027 | 89,709,327 | ||
Shareholders’ Equity | 14,988,336 | 10,894,266 | ||
Net Income for the Year | (6,759,772) | (9,294,061) | ||
Sudamericana Holding S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 32,504,862 | 16,350,623 | ||
Liabilities | 2,489,822 | 40,190 | ||
Shareholders’ Equity | 30,015,040 | 16,310,433 | ||
Net Income for the Year | 11,660,967 | 7,495,557 | ||
Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 159,225,575 | |||
Liabilities | 143,563,039 | |||
Shareholders’ Equity | 15,662,536 | |||
Net Income for the Year | 455,197 | |||
Tarjeta Naranja S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 1,107,822,562 | 1,288,657,713 | ||
Liabilities | 870,967,815 | 1,053,115,050 | ||
Shareholders’ Equity | 236,854,747 | 235,542,663 | ||
Net Income for the Year | 28,531,945 | 29,359,014 | ||
Tarjetas Regionales S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 274,378,940 | 266,029,478 | ||
Liabilities | 11,334 | 22,867 | ||
Shareholders’ Equity | 274,367,606 | 266,006,611 | ||
Net Income for the Year | 15,440,229 | 3,420,330 | ||
Well Assistance S.A.U. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 554 | 311,408 | ||
Liabilities | 3,321 | 0 | ||
Shareholders’ Equity | (2,767) | 311,408 | ||
Net Income for the Year | $ (2,767) | $ 0 |
Equity Investments in Subsidi_5
Equity Investments in Subsidiaries, Associates and Joint Ventures - Additional information (Detail) $ in Thousands | 12 Months Ended | ||||||
Oct. 11, 2023 $ / shares shares | Sep. 14, 2020 | Dec. 31, 2023 ARS ($) office producer customer shares | Dec. 31, 2022 ARS ($) | Dec. 31, 2021 ARS ($) | Jun. 15, 2021 shares | May 05, 2020 | |
Disclosure of subsidiaries [line items] | |||||||
Transfer or ordinary shares (in shares) | shares | 4,512,697,946 | ||||||
Par value per share | $ / shares | $ 1 | ||||||
Percentage of shareholding | 99.43% | ||||||
Number of customers | customer | 775,000 | ||||||
Number of branch offices | office | 13 | ||||||
Number of insurance producers | producer | 5,000 | ||||||
Income from insurance activity | $ 29,527,213 | ||||||
Profit (loss) of acquiree since acquisition date | (452,620) | ||||||
Estimated income (loss) from business activity | 108,514,025 | ||||||
Estimated profit (loss) from acquiree | (4,292,010) | ||||||
Payments for business combinations | 11,149,830 | $ 0 | $ 0 | ||||
Profit (loss) from associates and joint ventures | 4,876,658 | ||||||
Business Combination | |||||||
Disclosure of subsidiaries [line items] | |||||||
Fair value of net assets acquired | $ 16,026,488 | ||||||
Tarjetas Regionales S.A. | |||||||
Disclosure of subsidiaries [line items] | |||||||
Proportion of capital stock | 17% | 100% | |||||
Number of shares issued (in shares) | shares | 1,756,704,458 | 10,000 | |||||
Galicia Securities S.A.U. | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of voting interests acquired | 0.00057% | 100% | |||||
Seguros Sura SA | |||||||
Disclosure of subsidiaries [line items] | |||||||
Percentage of voting interests acquired | 99.434% |
Equity Investments in Subsidi_6
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of significant influence is valued by the equity method (Detail) - Play Digital S.A. - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of subsidiaries [line items] | ||
Equity Investment | 1,569% | |
Investments in associates | $ 2,650,357 | $ 2,076,371 |
Equity Investments in Subsidi_7
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Such Investment (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Subsidiaries [Roll Forward] | |||
Profit Sharing in income (loss) for the Year | $ 2,929,989 | $ (1,374,074) | $ (783,437) |
Play Digital S.A. | |||
Disclosure Of Subsidiaries [Roll Forward] | |||
Investments in associates | 2,076,371 | 1,027,259 | |
Contributions | 2,405,770 | 2,336,792 | |
Purchase of shares | (114,885) | (84,083) | |
Profit Sharing in income (loss) for the Year | (1,946,669) | (1,371,763) | |
Investments in associates | $ 2,650,357 | $ 2,076,371 | $ 1,027,259 |
Equity Investments in Subsidi_8
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Regarding Grupo Financiero Galicia's Associates (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of subsidiaries [line items] | ||||
Assets | $ 10,216,057,804 | $ 10,488,176,207 | ||
Liabilities | 8,198,813,805 | 8,592,294,336 | ||
Shareholders’ Equity | 2,017,243,999 | 1,895,881,871 | $ 1,846,912,941 | $ 1,669,471,836 |
Net Income for the Year | 337,169,628 | $ 151,257,454 | $ 188,618,946 | |
Play Digital S.A. | ||||
Disclosure of subsidiaries [line items] | ||||
Assets | 16,255,518 | |||
Liabilities | 6,276,551 | |||
Shareholders’ Equity | 9,978,967 | |||
Net Income for the Year | $ (7,818,441) |
Equity Investments in Subsidi_9
Equity Investments in Subsidiaries, Associates and Joint Ventures - Summary of Assets and Liabilities from Acquisitions (Details) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of subsidiaries [line items] | ||
Reinsurance Contract Assets | $ 28,616,023 | $ 98,766 |
Business Combination | ||
Disclosure of subsidiaries [line items] | ||
Cash and Due from Banks | 2,556,085 | |
Investments | 76,867,608 | |
Property, Plant and Equipment | 2,369,457 | |
Reinsurance Contract Assets | 16,064,907 | |
Other Assets | 12,366,070 | |
Total Assets | 110,224,127 | |
Provisions | 561,774 | |
Insurance Contracts Liabilities | 85,121,978 | |
Other Liabilities | 8,422,642 | |
Total Liabilities | 94,106,394 | |
Net Assets | 16,117,733 | |
Minority Interest | (91,245) | |
Net Assets Acquired | $ 16,026,488 |
Leases - Summary of detailed in
Leases - Summary of detailed information about lease assets and liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use asset | $ 17,775,586 | $ 23,021,193 | $ 27,325,869 |
Lease liabilities | (29,460,816) | (23,902,091) | |
Real estate | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use asset | $ 17,775,586 | $ 23,021,193 |
Leases - Additional Information
Leases - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Presentation of leases for lessee [abstract] | ||
Additions to right-of-use assets | $ 5,285,656 | $ 4,203,097 |
Cash outflow for leases | $ 6,372,889 |
Leases - Summary of detailed _2
Leases - Summary of detailed information about income statement disclosures of leases (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Presentation of leases for lessee [abstract] | ||
Charge for depreciation of right-of-use assets | $ (6,760,728) | $ (8,357,036) |
Interest Expenses | (3,404,429) | (3,559,813) |
Expenses related to short-term leases | (111,323) | (160,656) |
Expenses related to low-value assets leases | (521,042) | (941,360) |
Sublease Income | $ 70,567 | $ 13,524 |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Right Of Use Assets [Roll Forward] | |||
Balances at the beginning of the year | $ 23,021,193 | $ 27,325,869 | |
Additions | 5,285,656 | 4,203,097 | |
Cancellation of contracts | (3,770,535) | (150,737) | |
Depreciation of the year | (6,760,728) | (8,357,036) | |
Balances at the end of the year | 17,775,586 | 23,021,193 | $ 27,325,869 |
Lease Liabilities [Roll Forward] | |||
Balances at the beginning of the year | 23,902,091 | ||
New contracts | 5,285,656 | 4,203,097 | |
Cancellation of contracts | (3,770,535) | (150,737) | |
Leases payments | (6,372,889) | (8,331,048) | $ (10,531,399) |
Leases financial cost | 3,404,429 | 3,559,813 | |
Translation differences and inflation adjustment | 7,012,064 | (1,957,863) | |
Balances at the end of the year | 29,460,816 | 23,902,091 | |
Previously stated | |||
Lease Liabilities [Roll Forward] | |||
Balances at the beginning of the year | 26,578,829 | ||
Balances at the end of the year | $ 23,902,091 | $ 26,578,829 |
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, 2023 | Dec. 31, 2022 | |
Deferred Tax Assets Valuation of Securities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | $ 486,624 | $ 0 |
Inclusions | 0 | |
Charge to Income | 148,607,095 | 486,624 |
Ending balance | 149,093,719 | 486,624 |
Deferred Tax Assets Derivate Instruments | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | 103,680 |
Charge to Income | (103,680) | |
Ending balance | 0 | |
Deferred Tax Assets Loans and Other Financing | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 63,119,380 | 100,351,686 |
Inclusions | 0 | |
Charge to Income | (10,206,870) | (37,232,306) |
Ending balance | 52,912,510 | 63,119,380 |
Deferred Tax Assets Tax Loss Carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 6,559,801 | 5,433,297 |
Inclusions | 0 | |
Charge to Income | (4,108,500) | 1,126,504 |
Ending balance | 2,451,301 | 6,559,801 |
Deferred Tax Assets Insurance Contract Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 89,035 | 0 |
Inclusions | 0 | |
Charge to Income | 1,658,304 | 89,035 |
Ending balance | 1,747,339 | 89,035 |
Deferred Tax Assets Other Non-financial Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 4,991,731 | 1,343,836 |
Inclusions | 0 | |
Charge to Income | (4,991,731) | 3,647,895 |
Ending balance | 0 | 4,991,731 |
Deferred Tax Assets Other Financial Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 1,419,433 | 0 |
Inclusions | 0 | |
Charge to Income | (716,352) | 1,419,433 |
Ending balance | 703,081 | 1,419,433 |
Deferred Tax Assets Provisions | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 16,085,895 | 1,577,805 |
Inclusions | 1,608,703 | |
Charge to Income | (5,621,520) | 14,508,090 |
Ending balance | 12,073,078 | 16,085,895 |
Deferred Tax Assets Insurance Contracts Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 17,878 | 0 |
Inclusions | 0 | |
Charge to Income | 0 | 17,878 |
Ending balance | 17,878 | 17,878 |
Deferred Tax Assets Reinsurance Contracts Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | |
Inclusions | 13,666,440 | |
Charge to Income | 10,182,580 | |
Ending balance | 23,849,020 | 0 |
Deferred Tax Assets Other Non-financial Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 9,641,853 | 6,324,708 |
Inclusions | 1,115,336 | |
Charge to Income | 2,991,811 | 3,317,145 |
Ending balance | 13,749,000 | 9,641,853 |
Deferred Tax Assets Foreign Currency Exchange Difference | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 19,855 | 86,988 |
Inclusions | 0 | |
Charge to Income | 80,161 | (67,133) |
Ending balance | 100,016 | 19,855 |
Deferred Tax Assets Inflation Adjustment Deferral | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 9,135,996 | 37,834,512 |
Inclusions | 304,556 | |
Charge to Income | (7,742,125) | (28,698,516) |
Ending balance | 1,698,427 | 9,135,996 |
Deferred Tax Assets Others | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 108,157 | 683,184 |
Inclusions | 0 | |
Charge to Income | (108,157) | (575,027) |
Ending balance | 0 | 108,157 |
Deferred Tax Assets Gross | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 111,675,638 | 153,739,696 |
Inclusions | 16,695,035 | |
Charge to Income | 130,024,696 | (42,064,058) |
Ending balance | 258,395,369 | 111,675,638 |
Deferred Tax Assets Subsidiaries With Net Liability Position | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (88,986,340) | (127,738,387) |
Inclusions | 0 | |
Charge to Income | 20,344,480 | 38,752,047 |
Ending balance | (68,641,860) | (88,986,340) |
Deferred Tax Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 22,689,298 | 26,001,309 |
Inclusions | 16,695,035 | |
Charge to Income | 150,369,176 | (3,312,011) |
Ending balance | 189,753,509 | 22,689,298 |
Deferred Tax Liabilities Valuation of Securities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (29,812,256) | (8,409,947) |
Inclusions | 169,300 | |
Charge to Income | 28,731,134 | (21,402,309) |
Ending balance | (911,822) | (29,812,256) |
Deferred Tax Liabilities Derivative Instruments | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1,444,234) | 0 |
Inclusions | 0 | |
Charge to Income | 667,935 | (1,444,234) |
Ending balance | (776,299) | (1,444,234) |
Deferred Tax Liabilities Other Financial Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (1,791,599) | (927,614) |
Inclusions | (1,476,458) | |
Charge to Income | (841,000) | (863,985) |
Ending balance | (4,109,057) | (1,791,599) |
Deferred Tax Liabilities Property, Plant and Equipment | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (45,011,191) | (111,309,862) |
Inclusions | (2,968,242) | |
Charge to Income | 8,248,597 | 66,298,671 |
Ending balance | (39,730,836) | (45,011,191) |
Deferred Tax Liabilities Intangible Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (29,842,201) | (33,910,493) |
Inclusions | 0 | |
Charge to Income | (658,300) | 4,068,292 |
Ending balance | (30,500,501) | (29,842,201) |
Deferred Tax Liabilities Reinsurance Contract Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | |
Inclusions | 0 | |
Charge to Income | (7,261,636) | |
Ending balance | (7,261,636) | 0 |
Deferred Tax Liabilities Other Non-financial Assets | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (617,727) | (1,304,307) |
Inclusions | 0 | |
Charge to Income | 138,758 | 686,580 |
Ending balance | (478,969) | (617,727) |
Deferred Tax Liabilities Other Financial Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | (830,194) |
Charge to Income | 830,194 | |
Ending balance | 0 | |
Derivative Tax Liabilities Debt Securities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (233,472) | 0 |
Inclusions | 0 | |
Charge to Income | 151,160 | (233,472) |
Ending balance | (82,312) | (233,472) |
Derivative Tax Liabilities Subordinated Debt Securities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (28,217) | 0 |
Inclusions | 0 | |
Charge to Income | 24,105 | (28,217) |
Ending balance | (4,112) | (28,217) |
Deferred Tax Liabilities Reinsurance Contracts Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | |
Inclusions | 0 | |
Charge to Income | (524,796) | |
Ending balance | (524,796) | 0 |
Deferred Tax Liabilities Provisions | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | (3,949,480) |
Charge to Income | 3,949,480 | |
Ending balance | 0 | |
Deferred Tax Liabilities Other Non-financial Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (14,496) | 0 |
Inclusions | (58,249) | |
Charge to Income | 72,745 | (14,496) |
Ending balance | 0 | (14,496) |
Deferred Tax Liabilities Inflation Adjustment Deferral | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (16,380) | (34,460) |
Inclusions | 0 | |
Charge to Income | 11,542 | 18,080 |
Ending balance | (4,838) | (16,380) |
Deferred Tax Liabilities Others | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 0 | (4,060) |
Inclusions | (1,656,577) | |
Charge to Income | 44,559 | 4,060 |
Ending balance | (1,612,018) | 0 |
Deferred Tax Liabilities Foreign Gross | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (108,811,773) | (160,680,417) |
Inclusions | (5,990,226) | |
Charge to Income | 28,804,803 | 51,868,644 |
Ending balance | (85,997,196) | (108,811,773) |
Deferred Tax Liabilities Subsidiaries With Net Asset Position | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | 88,986,340 | 127,738,387 |
Inclusions | 0 | |
Charge to Income | (20,344,480) | (38,752,047) |
Ending balance | 68,641,860 | 88,986,340 |
Deferred Tax Liabilities | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance | (19,825,433) | (32,942,030) |
Inclusions | (5,990,226) | |
Charge to Income | 8,460,323 | 13,116,597 |
Ending balance | $ (17,355,336) | $ (19,825,433) |
Deferred Income Tax Assets_Li_4
Deferred Income Tax Assets/Liabilities - Summary of Expiration Dates of Tax Loss Carry-forwards (Detail) $ in Thousands | Dec. 31, 2023 ARS ($) |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | $ 9,790,357 |
Deferred Tax Assets | 2,451,301 |
2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | 137,507 |
2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | 397,219 |
2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | 2,897,666 |
2022 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | 6,210,115 |
2023 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Amount | 147,850 |
Charged to Income | 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred Tax Assets | 34,377 |
Charged to Income | 2020 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred Tax Assets | 99,305 |
Charged to Income | 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred Tax Assets | 724,417 |
Charged to Income | 2022 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred Tax Assets | 1,552,528 |
Charged to Income | 2023 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Deferred Tax Assets | $ 40,674 |
Assets_Liabilities for Insura_3
Assets/Liabilities for Insurance Contracts and Reinsurance Contracts - Assets Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of types of insurance contracts [line items] | ||
Insurance Contract Assets | $ 9,821,667 | $ 3,495,903 |
Insurance Contracts Liabilities | (105,700,532) | (4,068,201) |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Reinsurance Contracts Liabilities | (2,163,638) | 0 |
Life | ||
Disclosure of types of insurance contracts [line items] | ||
Insurance Contract Assets | 1,517,255 | 891,407 |
Insurance Contracts Liabilities | (2,341,868) | (3,948,374) |
Reinsurance Contract Assets | 0 | 13,182 |
Reinsurance Contracts Liabilities | (458,584) | |
Non Life | ||
Disclosure of types of insurance contracts [line items] | ||
Insurance Contract Assets | 8,304,412 | 2,604,496 |
Insurance Contracts Liabilities | (103,358,664) | (119,827) |
Reinsurance Contract Assets | 28,616,023 | $ 85,584 |
Reinsurance Contracts Liabilities | $ (1,705,054) |
Assets_Liabilities for Insura_4
Assets/Liabilities for Insurance Contracts and Reinsurance Contracts - Assets and Liabilities Related to Insurance Contracts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of types of insurance contracts [line items] | ||
Insurance Contract Assets | $ 9,821,667 | $ 3,495,903 |
Insurance Contracts Liabilities | (105,700,532) | (4,068,201) |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Reinsurance Contracts Liabilities | (2,163,638) | 0 |
Insurance contracts | ||
Disclosure of types of insurance contracts [line items] | ||
Insurance Contract Assets | 9,821,667 | 3,495,903 |
Insurance Contracts Liabilities | (105,700,532) | (4,068,201) |
Liabilities for remaining coverage | 19,818,148 | 3,170,130 |
Liabilities for incurred claims | (115,697,013) | (3,742,428) |
Insurance contracts | Estimates of the present value of cash flows | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | (1,835,452) | (2,258,020) |
Liabilities for incurred claims | (113,944,858) | (3,530,506) |
Insurance contracts | Risk adjustment | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | (86,981) | (29,048) |
Liabilities for incurred claims | (1,752,155) | (211,922) |
Insurance contracts | Cost service margin | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | (1,277,382) | (1,674,286) |
Insurance contracts | Premium reserve - Simplified Model | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | 23,017,963 | 7,131,484 |
Reinsurance contracts | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | 4,320,414 | (129,390) |
Liabilities for incurred claims | (22,131,971) | (228,156) |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Reinsurance Contracts Liabilities | (2,163,638) | 0 |
Reinsurance contracts | Estimates of the present value of cash flows | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for incurred claims | (22,065,757) | (217,982) |
Reinsurance contracts | Risk adjustment | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for incurred claims | (66,214) | (10,174) |
Reinsurance contracts | Premium reserve - Simplified Model | ||
Disclosure of types of insurance contracts [line items] | ||
Liabilities for remaining coverage | $ 4,320,414 | $ (129,390) |
Assets_Liabilities for Insura_5
Assets/Liabilities for Insurance Contracts and Reinsurance Contracts - Schedule of Assets and Liabilities Related to Insurance Contracts (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Net income (expenses) from reinsurance contracts held | $ (639,798) | $ (2,166,449) | |
Net Income for the Year | 337,169,628 | 151,257,454 | $ 188,618,946 |
Insurance contracts | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 3,495,903 | ||
Insurance contracts that are liabilities at beginning of period | (4,068,201) | (276,323) | |
Net balance | (95,878,865) | (572,298) | (276,323) |
Insurance revenue | 95,782,121 | 69,488,357 | |
Incurred claims and other directly attributable expenses | (48,915,701) | (30,005,964) | |
Losses on onerous contracts and reversal of those losses | (426,180) | ||
Insurance acquisition cash flows amortization | (9,457,404) | (2,759,093) | |
Insurance service expenses | (58,799,285) | (27,246,871) | |
Insurance service result | 36,982,836 | 42,241,486 | |
IAS 29 + Finance expenses from insurance contracts held | (3,790,682) | (8,240,094) | |
Net Income for the Year | 33,192,154 | 34,001,392 | |
Premiums received | (96,017,423) | (64,412,277) | |
Claims and other directly attributable expenses paid | 37,067,756 | 28,265,727 | |
Insurance acquisition cash flows | 15,572,924 | 1,849,183 | |
Total cash flows | (43,376,743) | (34,297,367) | |
Acquisitions | (85,121,978) | ||
Insurance contracts that are liabilities at end of period | (105,700,532) | (4,068,201) | (276,323) |
Insurance contracts that are assets at end of period | 9,821,667 | 3,495,903 | |
Insurance contracts | Net liabilities or assets for remaining coverage excluding loss component [member] | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 7,111,168 | ||
Insurance contracts that are liabilities at beginning of period | (1,652,784) | 4,657,387 | |
Net balance | 22,167,295 | 5,458,384 | 4,657,387 |
Insurance revenue | 95,782,121 | 69,488,357 | |
Incurred claims and other directly attributable expenses | 0 | 0 | |
Losses on onerous contracts and reversal of those losses | 0 | ||
Insurance acquisition cash flows amortization | (9,457,404) | (2,759,093) | |
Insurance service expenses | (9,457,404) | 2,759,093 | |
Insurance service result | 86,324,717 | 72,247,450 | |
IAS 29 + Finance expenses from insurance contracts held | (5,436,169) | (8,883,359) | |
Net Income for the Year | 80,888,548 | 63,364,091 | |
Premiums received | (96,017,423) | (64,412,277) | |
Claims and other directly attributable expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 15,572,924 | 1,849,183 | |
Total cash flows | (80,444,499) | (62,563,094) | |
Acquisitions | 16,264,862 | ||
Insurance contracts that are liabilities at end of period | 7,315,318 | (1,652,784) | 4,657,387 |
Insurance contracts that are assets at end of period | 14,851,977 | 7,111,168 | |
Insurance contracts | Loss component [member] | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 0 | ||
Insurance contracts that are liabilities at beginning of period | 0 | 0 | |
Net balance | (426,180) | 0 | 0 |
Insurance revenue | 0 | 0 | |
Incurred claims and other directly attributable expenses | 0 | 0 | |
Losses on onerous contracts and reversal of those losses | (426,180) | ||
Insurance acquisition cash flows amortization | 0 | 0 | |
Insurance service expenses | (426,180) | 0 | |
Insurance service result | (426,180) | 0 | |
IAS 29 + Finance expenses from insurance contracts held | 0 | 0 | |
Net Income for the Year | (426,180) | 0 | |
Premiums received | 0 | 0 | |
Claims and other directly attributable expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Total cash flows | 0 | 0 | |
Acquisitions | 0 | ||
Insurance contracts that are liabilities at end of period | (41,949) | 0 | 0 |
Insurance contracts that are assets at end of period | (384,231) | 0 | |
Insurance contracts | Liabilities for incurred claims [member] | Estimates of the present value of cash flows | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | (3,405,560) | ||
Insurance contracts that are liabilities at beginning of period | (2,384,150) | (4,933,710) | |
Net balance | (115,780,844) | (5,789,710) | (4,933,710) |
Insurance revenue | 0 | 0 | |
Incurred claims and other directly attributable expenses | (49,243,616) | (29,764,992) | |
Losses on onerous contracts and reversal of those losses | 0 | ||
Insurance acquisition cash flows amortization | 0 | 0 | |
Insurance service expenses | (49,243,616) | (29,764,992) | |
Insurance service result | (49,243,616) | (29,764,992) | |
IAS 29 + Finance expenses from insurance contracts held | 1,559,550 | 643,265 | |
Net Income for the Year | (47,684,066) | (29,121,727) | |
Premiums received | 0 | 0 | |
Claims and other directly attributable expenses paid | 37,067,756 | 28,265,727 | |
Insurance acquisition cash flows | 0 | 0 | |
Total cash flows | 37,067,756 | 28,265,727 | |
Acquisitions | (99,374,824) | ||
Insurance contracts that are liabilities at end of period | (111,268,893) | (2,384,150) | (4,933,710) |
Insurance contracts that are assets at end of period | (4,511,951) | (3,405,560) | |
Insurance contracts | Liabilities for incurred claims [member] | Risk adjustment | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | (209,705) | ||
Insurance contracts that are liabilities at beginning of period | (31,267) | 0 | |
Net balance | (1,839,136) | (240,972) | 0 |
Insurance revenue | 0 | 0 | |
Incurred claims and other directly attributable expenses | 327,915 | (240,972) | |
Losses on onerous contracts and reversal of those losses | 0 | ||
Insurance acquisition cash flows amortization | 0 | 0 | |
Insurance service expenses | 327,915 | (240,972) | |
Insurance service result | 327,915 | (240,972) | |
IAS 29 + Finance expenses from insurance contracts held | 85,937 | 0 | |
Net Income for the Year | 413,852 | (240,972) | |
Premiums received | 0 | 0 | |
Claims and other directly attributable expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Total cash flows | 0 | 0 | |
Acquisitions | (2,012,016) | ||
Insurance contracts that are liabilities at end of period | (1,705,008) | (31,267) | 0 |
Insurance contracts that are assets at end of period | (134,128) | (209,705) | |
Reinsurance contracts | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 98,766 | 444,796 | |
Insurance contracts that are liabilities at beginning of period | 0 | ||
Net balance | 26,452,385 | 98,766 | 444,796 |
Incurred claims and other directly attributable expenses | 5,106,513 | 359,180 | |
Reinsurance expenses | (5,933,320) | (2,525,629) | |
Loss recovery component | 187,009 | ||
Net income (expenses) from reinsurance contracts held | (639,798) | (2,166,449) | |
IAS 29 + Finance expenses from insurance contracts held | 8,471,263 | (118,158) | |
Net Income for the Year | 7,831,465 | (2,284,607) | |
Premiums paid net of ceding commissions and other directly attributable expenses paid | 3,780,114 | 2,247,982 | |
Recoveries from reinsurance | (1,322,867) | (309,405) | |
Total cash flows | 2,457,247 | 1,938,577 | |
Acquisitions | 16,064,907 | ||
Insurance contracts that are liabilities at end of period | (2,163,638) | 0 | |
Insurance contracts that are assets at end of period | 28,616,023 | 98,766 | 444,796 |
Reinsurance contracts | Net liabilities or assets for remaining coverage excluding loss component [member] | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | (129,391) | 17,449 | |
Insurance contracts that are liabilities at beginning of period | 0 | ||
Net balance | 4,133,405 | (129,391) | 17,449 |
Incurred claims and other directly attributable expenses | 0 | 0 | |
Reinsurance expenses | (5,933,320) | (2,525,629) | |
Loss recovery component | 0 | ||
Net income (expenses) from reinsurance contracts held | (5,933,320) | (2,525,629) | |
IAS 29 + Finance expenses from insurance contracts held | 4,366,252 | 130,807 | |
Net Income for the Year | (1,567,068) | (2,394,822) | |
Premiums paid net of ceding commissions and other directly attributable expenses paid | 3,780,114 | 2,247,982 | |
Recoveries from reinsurance | 0 | 0 | |
Total cash flows | 3,780,114 | 2,247,982 | |
Acquisitions | 2,049,750 | ||
Insurance contracts that are liabilities at end of period | (3,748,254) | 0 | |
Insurance contracts that are assets at end of period | 7,881,659 | (129,391) | 17,449 |
Reinsurance contracts | Loss component [member] | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 0 | 0 | |
Insurance contracts that are liabilities at beginning of period | 0 | ||
Net balance | 187,009 | 0 | 0 |
Incurred claims and other directly attributable expenses | 0 | 0 | |
Reinsurance expenses | 0 | 0 | |
Loss recovery component | 187,009 | ||
Net income (expenses) from reinsurance contracts held | 187,009 | 0 | |
IAS 29 + Finance expenses from insurance contracts held | 0 | 0 | |
Net Income for the Year | 187,009 | 0 | |
Premiums paid net of ceding commissions and other directly attributable expenses paid | 0 | 0 | |
Recoveries from reinsurance | 0 | 0 | |
Total cash flows | 0 | 0 | |
Acquisitions | 0 | ||
Insurance contracts that are liabilities at end of period | 0 | 0 | |
Insurance contracts that are assets at end of period | 187,009 | 0 | 0 |
Reinsurance contracts | Liabilities for incurred claims [member] | Estimates of the present value of cash flows | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 217,984 | 427,347 | |
Insurance contracts that are liabilities at beginning of period | 0 | ||
Net balance | 22,065,757 | 217,984 | 427,347 |
Incurred claims and other directly attributable expenses | 5,111,635 | 349,007 | |
Reinsurance expenses | 0 | 0 | |
Loss recovery component | 0 | ||
Net income (expenses) from reinsurance contracts held | 5,111,635 | 349,007 | |
IAS 29 + Finance expenses from insurance contracts held | 4,111,918 | (248,965) | |
Net Income for the Year | 9,223,553 | 100,042 | |
Premiums paid net of ceding commissions and other directly attributable expenses paid | 0 | 0 | |
Recoveries from reinsurance | (1,322,867) | (309,405) | |
Total cash flows | (1,322,867) | (309,405) | |
Acquisitions | 13,947,087 | ||
Insurance contracts that are liabilities at end of period | 1,551,671 | 0 | |
Insurance contracts that are assets at end of period | 20,514,086 | 217,984 | 427,347 |
Reinsurance contracts | Liabilities for incurred claims [member] | Risk adjustment | |||
Disclosure Of Assets And Liabilities Related To Insurance Contracts [Roll Forward] | |||
Insurance contracts that are assets at beginning of period | 10,173 | 0 | |
Insurance contracts that are liabilities at beginning of period | 0 | ||
Net balance | 66,214 | 10,173 | 0 |
Incurred claims and other directly attributable expenses | (5,122) | 10,173 | |
Reinsurance expenses | 0 | 0 | |
Loss recovery component | 0 | ||
Net income (expenses) from reinsurance contracts held | (5,122) | 10,173 | |
IAS 29 + Finance expenses from insurance contracts held | (6,907) | 0 | |
Net Income for the Year | (12,029) | 10,173 | |
Premiums paid net of ceding commissions and other directly attributable expenses paid | 0 | 0 | |
Recoveries from reinsurance | 0 | 0 | |
Total cash flows | 0 | 0 | |
Acquisitions | 68,070 | ||
Insurance contracts that are liabilities at end of period | 32,945 | 0 | |
Insurance contracts that are assets at end of period | $ 33,269 | $ 10,173 | $ 0 |
Assets_Liabilities for Insura_6
Assets/Liabilities for Insurance Contracts and Reinsurance Contracts - Summary of Assumption Used for Current Estimates of Future Cash Flows Derived from Insurance Contract (Detail) - ARS ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Voluntary Retirement | ||
Disclosure of types of insurance contracts [line items] | ||
Administrative Expenses | $ 1,680 | $ 2,400 |
Annuities | ||
Disclosure of types of insurance contracts [line items] | ||
Administrative Expenses | $ 11,340 | $ 14,800 |
US Dollar | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 4.64% | 4.84% |
Argentina, Pesos | ||
Disclosure of types of insurance contracts [line items] | ||
Investment (Discount) Rate | 181.38% | 108.46% |
Argentina, Pesos | Badlar Rate | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 75% | 75% |
Argentina, Pesos | Badlar Rate | Bottom of range | ||
Disclosure of types of insurance contracts [line items] | ||
Life Insurance Reference Rate | 69.47% | 69.47% |
Other Non-financial Assets - Su
Other Non-financial Assets - Summary of Other Non-financial Assets (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | $ 77,747,320 | $ 78,383,092 |
Payments on behalf of third parties | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 5,998,743 | 5,886,564 |
Advances of fees to Directors and Syndics | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 18,507 | 32,025 |
Advances to Personnel | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 183,132 | 80,135 |
Tax Credits | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 16,000,772 | 18,851,330 |
Payments made in Advance | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 28,267,550 | 19,357,660 |
Advances for Purchase of Assets | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 4,169,213 | 13,565,810 |
Investment properties | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 5,301,923 | 5,114,404 |
Other Sundry Assets Measured at Cost | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 12,014,604 | 10,130,371 |
Assets Taken in Defense of Credits | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 201,292 | 312,756 |
Contract Assets | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | 2,460,362 | 1,158,866 |
Others | ||
Disclosure of Other Non Financial Assets [line items] | ||
Other Non-financial Assets | $ 3,131,222 | $ 3,893,171 |
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, 2023 | Dec. 31, 2022 | |
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Total | $ 74,920 | $ 3,896 |
Real Estate | ||
Noncurrent Assets Held For Sale And Discontinued Operations [line items] | ||
Property, Plant and Equipment | $ 74,920 | $ 3,896 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 5,707,779,943 | $ 6,670,282,388 |
In Pesos | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 3,911,679,725 | 5,499,926,643 |
In Pesos | Checking Accounts | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 662,301,038 | 917,872,719 |
In Pesos | Savings Accounts | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,781,911,012 | 1,744,931,650 |
In Pesos | Time Deposits | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 975,440,751 | 2,454,589,851 |
In Pesos | Time Deposits – UVA | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 42,922,738 | 116,366,263 |
In Pesos | Other | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 305,057,594 | 126,619,593 |
In Pesos | Interest and Adjustments | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 144,046,592 | 139,546,567 |
In Foreign Currency | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,796,100,218 | 1,170,355,745 |
In Foreign Currency | Savings Accounts | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 1,592,790,179 | 966,320,800 |
In Foreign Currency | Time Deposits | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 185,017,661 | 182,175,988 |
In Foreign Currency | Other | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | 17,885,645 | 21,544,336 |
In Foreign Currency | Interest and Adjustments | ||
Disclosure Of Deposits [line items] | ||
Deposits from customers | $ 406,733 | $ 314,621 |
Other Financial Liabilities - S
Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 1,273,329,296 | $ 1,086,252,228 |
Creditors for Purchase to be Settled | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 16,673,813 | 76,002,542 |
Collections and Other Transactions on Behalf of Third Parties | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 130,990,555 | 78,993,734 |
Obligations for Purchase Financing | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 746,506,069 | 753,371,317 |
Creditors for Purchase of Foreign Currency to be Settled | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 36,472,776 | 62,429,578 |
Accrued Fees Payable | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 10,114,719 | 16,281,068 |
Sundry Items Subject to Minimum Cash | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 17,102,592 | 7,122,073 |
Sundry Items not Subject to Minimum Cash | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 277,484,655 | 34,222,473 |
Financial Liabilities for guarantees and sureties granted (financial guarantee contracts) | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 6,810,736 | 2,188,414 |
Cash or equivalents for purchases or cash sales to be settled | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 387,238 | 73,757 |
Lease Liabilities | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | 29,460,816 | 23,902,091 |
Other Financial Liabilities | ||
Disclosure Of Other Financial Liabilities [line items] | ||
Other Financial Liabilities | $ 1,325,327 | $ 31,665,181 |
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, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 138,128,699 | $ 116,684,862 |
Argentine Central Bank Financing | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 192,903 | 307,770 |
Correspondents | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,014,393 | 6,020,955 |
Financing from Local Financial Institutions | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 102,022,880 | 93,374,358 |
Financing from Foreign Financial Institutions | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 31,064,893 | 11,366,560 |
Financing from International Financial Institutions | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | $ 3,833,630 | $ 5,615,219 |
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, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [line items] | ||
Notional amount | $ 138,128,699 | $ 116,684,862 |
Argentina, Pesos | Local Institutions | BICE | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 1668 days | 1423 days |
Rate | 8,490% | 2,430% |
Notional amount | $ 4,852,344 | $ 3,381,663 |
Argentina, Pesos | Local Institutions | Agreements With Banks | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 234 days | 426 days |
Rate | 13,310% | 7,070% |
Notional amount | $ 94,611,433 | $ 84,142,162 |
Argentina, Pesos | Local Institutions | Call Taken | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 4 days | 3 days |
Rate | 8,000% | 2,180% |
Notional amount | $ 1,227,950 | $ 2,227,259 |
Argentina, Pesos | Local Institutions | Argentine Central Bank | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 4 days | 3 days |
Rate | 0% | 0% |
Notional amount | $ 192,903 | $ 307,770 |
US Dollar | Local Institutions | BICE | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 1748 days | 1729 days |
Rate | 940% | 880% |
Notional amount | $ 1,331,153 | $ 3,623,275 |
US Dollar | International Institutions | Correspondents | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 4 days | 3 days |
Rate | 0% | 0% |
Notional amount | $ 1,014,393 | $ 6,020,955 |
US Dollar | International Institutions | IFC | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 2266 days | 2082 days |
Rate | 850% | 800% |
Notional amount | $ 2,694,944 | $ 11,031,821 |
US Dollar | International Institutions | Pre-financing | ||
Disclosure of detailed information about borrowings [line items] | ||
Term | 182 days | 182 days |
Rate | 560% | 810% |
Notional amount | $ 32,203,579 | $ 5,949,957 |
Debt Securities - Summary of Br
Debt Securities - Summary of Breakdown of the Global Programs for the Issuance of Negotiable Obligations Outstanding (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Grupo Financiero Galicia S.A. | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 100,000 |
Program Term | 5 years |
Banco de Galicia y Buenos Aires S.A.U. | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 2,100,000 |
Program Term | 5 years |
Banco de Galicia y Buenos Aires S.A.U. | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 500,000 |
Program Term | — |
Tarjeta Naranja S.A.U. | |
Disclosure of Breakdown for Issuance of Debt Securities Outstanding [Line Items] | |
Authorized Amount | $ 1,000,000 |
Program Term | 5 years |
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, 2023 ARS ($) | Dec. 31, 2022 ARS ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Debt Securities | $ 92,715,512 | $ 209,587,705 | ||
Grupo Financiero Galicia S.A. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Debt Securities | $ 77,178,810 | 189,650,155 | ||
Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 250,000 | |||
Term | 120 months | |||
LI Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 3,284,942 | $ 3,284,942 | ||
Term | 730 days | 730 days | ||
Rate | 6% | 6% | 6% | 6% |
Debt Securities | $ 2,753,081 | $ 11,336,935 | ||
LIII Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 4,192,612 | $ 4,192,612 | ||
Term | 730 days | 730 days | ||
Rate | 5.25% | 5.25% | 5.25% | 5.25% |
Debt Securities | $ 3,725,576 | $ 15,002,895 | ||
LIV Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 4,779,859 | $ 4,779,859 | ||
Term | 730 days | 730 days | ||
Rate | 4.99% | 4.99% | 4.99% | 4.99% |
Debt Securities | $ 6,175,447 | $ 17,030,380 | ||
LV Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 10,141,234 | $ 10,141,234 | ||
Term | 548 days | 548 days | ||
Rate | 3% | 3% | 3% | 3% |
Debt Securities | $ 6,195,912 | $ 26,039,365 | ||
LVII | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 12,512,200 | $ 8,437,300 | ||
Term | 365 days | 365 days | ||
Rate | 4.50% | 4.50% | 4.50% | 4.50% |
Debt Securities | $ 11,129,223 | $ 28,576,596 | ||
LVIII | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 12,214,678 | |||
Term | 366 days | |||
Rate | 5% | 5% | ||
Debt Securities | $ 4,641,269 | |||
LIX | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 12,072,087 | |||
Term | 366 days | |||
Rate | 5% | 5% | ||
Debt Securities | $ 12,476,458 | |||
LX | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 27,381,323 | |||
Term | 366 days | |||
Rate | 5% | 5% | ||
Debt Securities | $ 23,962,959 | |||
LII | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 7,500 | $ 7,500 | ||
Term | 770 days | 770 days | ||
Rate | 5% | 5% | 5% | 5% |
Debt Securities | $ 6,118,885 | $ 4,150,581 | ||
Global Program for Issuance of Unsubordinated Negotiable Obligations Class Six | Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Term | 6 months | |||
Green Bond | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Debt Securities | $ 15,536,702 | $ 19,937,550 | ||
XII | Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 5,829,400 | |||
Term | 6 months | |||
Rate | 0% | 0% | ||
Debt Securities | $ 18,472,610 | |||
XLIX Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 1,246,500 | |||
Term | 730 days | |||
Rate | 7.24% | 7.24% | ||
Debt Securities | $ 5,544,283 | |||
LI Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 2,715,058 | |||
Term | 365 days | |||
Rate | 3.99% | 3.99% | ||
Debt Securities | $ 9,502,336 | |||
LIII Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 4,532,644 | |||
Term | 365 days | |||
Rate | 3.75% | 3.75% | ||
Debt Securities | $ 16,440,966 | |||
LIV Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 3,220,141 | |||
Term | 365 days | |||
Rate | 2.85% | 2.85% | ||
Debt Securities | $ 11,743,294 | |||
LV Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 6,968,538 | |||
Term | 270 days | |||
Rate | 0% | 0% | ||
Debt Securities | $ 21,061,670 | |||
XLVII | Tarjeta Naranja S.A.U. | ||||
Disclosure of subordinated Debt Securities Outstanding [Line Items] | ||||
Face Value | $ 8,500 | |||
Term | 742 days | |||
Rate | 7% | 7% | ||
Debt Securities | $ 4,748,244 |
Debt Securities - Summary of Re
Debt Securities - Summary of Repurchases of Own Debt Securities (Detail) $ in Thousands, $ in Thousands | Dec. 31, 2023 ARS ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 ARS ($) | Dec. 31, 2022 USD ($) |
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Debt Securities | $ 92,715,512 | $ 209,587,705 | ||
Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Debt Securities | 12,017,844 | 13,765,853 | ||
Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | $ 250,000 | |||
LI Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 3,284,942 | 3,284,942 | ||
Debt Securities | 2,753,081 | 11,336,935 | ||
LI Serie II | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 97,911 | 50,000 | ||
Debt Securities | 117,385 | 180,159 | ||
LIII Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 4,192,612 | 4,192,612 | ||
Debt Securities | 3,725,576 | 15,002,895 | ||
LIII Serie II | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 50,000 | 100,000 | ||
Debt Securities | 64,545 | 363,310 | ||
LIV Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 4,779,859 | 4,779,859 | ||
Debt Securities | 6,175,447 | 17,030,380 | ||
LIV Serie II | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 83,000 | 135,000 | ||
Debt Securities | 106,993 | 472,950 | ||
LV Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 10,141,234 | 10,141,234 | ||
Debt Securities | 6,195,912 | 26,039,365 | ||
LV Serie II | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 50,000 | 2,585,727 | ||
Debt Securities | 57,920 | 8,742,567 | ||
LVII | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 12,512,200 | 8,437,300 | ||
Debt Securities | 11,129,223 | 28,576,596 | ||
LVII | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 50,000 | 189,000 | ||
Debt Securities | 58,750 | 658,014 | ||
LVIII | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 12,214,678 | |||
Debt Securities | 4,641,269 | |||
LVIII | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 49,625 | |||
Debt Securities | 59,867 | |||
LIX | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 12,072,087 | |||
Debt Securities | 12,476,458 | |||
LIX | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 2,026,702 | |||
Debt Securities | 2,449,554 | |||
LX | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 27,381,323 | |||
Debt Securities | 23,962,959 | |||
LX | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 7,665,541 | |||
Debt Securities | $ 9,102,830 | |||
XII | Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 5,829,400 | |||
Debt Securities | 18,472,610 | |||
XII | Banco de Galicia y Buenos Aires S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 40,000 | |||
Debt Securities | 150,114 | |||
XLVII | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | $ 8,500 | |||
Debt Securities | 4,748,244 | |||
XLVII | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 2 | |||
Debt Securities | 1,193 | |||
XLIX Serie II | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 1,246,500 | |||
Debt Securities | 5,544,283 | |||
XLIX Serie II | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 57,000 | |||
Debt Securities | 200,637 | |||
LI Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 2,715,058 | |||
Debt Securities | 9,502,336 | |||
LI Serie I | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 8,703 | |||
Debt Securities | 30,403 | |||
LII | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 7,500 | 7,500 | ||
Debt Securities | $ 6,118,885 | $ 4,150,581 | ||
LII | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 13 | |||
Debt Securities | 6,901 | |||
LIII Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 4,532,644 | |||
Debt Securities | 16,440,966 | |||
LIII Serie I | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 50,000 | |||
Debt Securities | 181,152 | |||
LIV Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 3,220,141 | |||
Debt Securities | 11,743,294 | |||
LIV Serie I | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 170 | |||
Debt Securities | 613 | |||
LV Serie I | Tarjeta Naranja S.A.U. | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 6,968,538 | |||
Debt Securities | 21,061,670 | |||
LV Serie I | Tarjeta Naranja S.A.U. | Own debt securities repurchases | ||||
Disclosure of Unsubordinated Negotiable Obligations Outstanding [Line Items] | ||||
Face Value | 831,590 | |||
Debt Securities | $ 2,777,840 |
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, 2023 ARS ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 ARS ($) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||
Subordinated Debt Securities | $ 205,612,893 | $ 141,394,653 | ||
Maturing on July 19 ,2026 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Percentage of principal amount | 100% | |||
Maturing on July 19, 2021 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Rate | 8.25% | 8.25% | ||
Interest payable semi-annually on January 9 and July 19 2017 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Rate | 7.156% | 7.156% | ||
Banco de Galicia y Buenos Aires S.A.U. | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Class No. | II | |||
Notional Amount | $ 250,000 | |||
Term | 120 months | |||
Subordinated Debt Securities | $ 205,612,893 | $ 141,394,653 |
Subordinated Debt Securities _2
Subordinated Debt Securities - Summary of Repurchases of Own Subordinated Debt Securities (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 ARS ($) | |
Disclosure of detailed information about borrowings [line items] | |
Repurchased subordinated liabilities | $ 2,174,296 |
Banco de Galicia y Buenos Aires S.A.U. | |
Disclosure of detailed information about borrowings [line items] | |
Class No. | II |
Nominal value | $ 2,000,000 |
Repurchased subordinated liabilities | $ 2,174,296 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other provisions [abstract] | ||
For Termination Benefits | $ 4,013,811 | $ 8,648,052 |
Others | 16,374,132 | 23,286,874 |
Total | $ 20,387,943 | $ 31,934,926 |
Other Non-financial Liabiliti_3
Other Non-financial Liabilities - Summary of Other Non-financial Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 278,169,377 | $ 279,341,084 |
Creditors for sale of assets | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 2,635,658 | 2,416,250 |
Tax withholdings and collections payable | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 70,692,520 | 92,421,959 |
Payroll and Social Contributions Payable | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 78,510,770 | 56,275,851 |
Withholdings on Payroll Payable | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 2,112,721 | 3,345,468 |
Fess to Directors and Syndics | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 1,525,998 | 1,945,083 |
Value-Added Tax | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 15,203,555 | 12,664,560 |
Sundry Creditors | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 49,036,226 | 30,405,649 |
Taxes Payable | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 52,241,225 | 55,496,336 |
Obligations Arising from Contracts with Customers | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 3,622,688 | 8,665,403 |
Retirement payment orders pending settlement | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | 481,796 | 1,106,674 |
Other Non-financial Liabilities | ||
Disclosure of other non-financial liabilities [line items] | ||
Other Non-financial Liabilities | $ 2,106,220 | $ 14,597,851 |
Other Non-financial Liabiliti_4
Other Non-financial Liabilities - Additional Information (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Quiero | ||
Disclosure of other non-financial liabilities [line items] | ||
Deferred income other than contract liabilities | $ 2,251,056 | $ 7,441,313 |
Other Non-financial Liabiliti_5
Other Non-financial Liabilities - Summary of Estimated Use of Liability (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of other non-financial liabilities [line items] | ||
Liabilities –“Quiero!” Customers Loyalty Program | $ 8,198,813,805 | $ 8,592,294,336 |
Quiero | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities –“Quiero!” Customers Loyalty Program | 2,251,056 | |
Up to 12 Months | Quiero | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities –“Quiero!” Customers Loyalty Program | 1,182,807 | |
Up to 24 Months | Quiero | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities –“Quiero!” Customers Loyalty Program | 578,016 | |
Over 24 Months | Quiero | ||
Disclosure of other non-financial liabilities [line items] | ||
Liabilities –“Quiero!” Customers Loyalty Program | $ 490,233 |
Capital Stock (Detail)
Capital Stock (Detail) $ in Thousands | Mar. 16, 2021 ARS ($) shares |
Disclosure of Capital Stock [line items] | |
Expenses related to the capital increase | $ | $ 120,390 |
Tarjetas Regionales SA | |
Disclosure of Capital Stock [line items] | |
Number of shares issued (in shares) | shares | 47,927,494 |
Exchange Rate Differences on _3
Exchange Rate Differences on Foreign Currency - Summary of Gold and Foreign Currency Quotation Differences (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Transactions In Foreign Currency [line items] | |||
Exchange rate differences on foreign currency | $ 612,573,105 | $ 62,666,267 | $ 27,265,004 |
For Purchase sale of foreign currency | |||
Disclosure Of Transactions In Foreign Currency [line items] | |||
Exchange rate differences on foreign currency | 25,908,441 | 26,650,743 | 12,533,554 |
For Valuation of Assets and Liabilities in Foreign Currency | |||
Disclosure Of Transactions In Foreign Currency [line items] | |||
Exchange rate differences on foreign currency | $ 586,664,664 | $ 36,015,524 | $ 14,731,450 |
Other Operating Income - Summar
Other Operating Income - Summary of Other Operating Income (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 381,761,004 | $ 229,783,588 | $ 155,435,612 |
Other Adjustments and Interest on sundry Credits | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 212,636,372 | 115,639,341 | 42,949,355 |
Rental of Safety Deposit Boxes | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 12,263,331 | 12,473,218 | 12,300,604 |
Other Financial Income | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 11,268,721 | 3,422,685 | 2,842,193 |
Other Income from Services | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 72,290,496 | 54,919,541 | 37,786,739 |
Reversed allowances | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | 25,459,136 | 202,256 | 6,130,733 |
Others | |||
Disclosure Of Other Operating Income [line items] | |||
Other Operating Income | $ 47,842,948 | $ 43,126,547 | $ 53,425,988 |
Insurance Business Result - Sum
Insurance Business Result - Summary of Insurance Business Result (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of types of insurance contracts [abstract] | |||
Insurance revenue | $ 95,782,121 | $ 69,488,357 | |
Insurance service expenses from insurance contracts issued | (58,799,285) | (27,246,871) | |
Net income (expenses) from reinsurance contracts held | (639,798) | (2,166,449) | |
Insurance Business Result | $ 36,343,038 | $ 40,075,037 | $ 44,584,836 |
Insurance Business Result - S_2
Insurance Business Result - Summary of Underwriting Income from Insurance Business (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2021 ARS ($) | |
Disclosure of types of insurance contracts [abstract] | |
Premiums and Surcharges Accrued | $ 74,175,529 |
Claims Accrued | (13,593,423) |
Redemptions | (193,197) |
Fixed and Periodic Annuities | (114,455) |
Production and Operating Expenses | (14,866,769) |
Other Income and Expenses | (822,849) |
Total | $ 44,584,836 |
Impairment Charge - Summary of
Impairment Charge - Summary of Loan Loss Charges (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loan Loss Charges [Abstract] | |||
Expected credit loss allowance | $ (184,869,469) | $ (154,535,309) | $ (123,638,163) |
Direct charge offs | (5,813,345) | (8,759,136) | (9,512,939) |
Total | $ (190,682,814) | $ (163,294,445) | $ (133,151,102) |
Personnel Expenses - Summary of
Personnel Expenses - Summary of Personnel Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ (351,459,681) | $ (301,727,403) | $ (281,731,346) |
Payroll | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | (185,585,493) | (170,540,830) | (169,735,916) |
Social Contributions on Payroll | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | (43,572,813) | (40,656,504) | (39,620,402) |
Personnel Compensations and Rewards | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | (100,733,819) | (75,328,612) | (58,833,198) |
Services for Personnel | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | (8,221,659) | (8,390,742) | (7,180,880) |
Other Short-term Personnel Expenses | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | (12,786,029) | (6,112,941) | (5,464,673) |
Other Long-term Personnel Expenses | |||
Disclosure of personnel expenses [line items] | |||
Personnel Expenses | $ (559,868) | $ (697,774) | $ (896,277) |
Administrative Expenses - Summa
Administrative Expenses - Summary of Expenses by Nature and Function (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ (295,224,397) | $ (279,393,042) | $ (272,939,370) |
Fees and Remunerations for Services | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (20,713,249) | (23,600,296) | (17,935,968) |
Directors’ and Syndics’ Fees | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (3,617,647) | (3,880,074) | (2,372,295) |
Advertising and Marketing | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (14,301,575) | (13,294,092) | (14,013,305) |
Taxes | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (88,198,745) | (73,456,473) | (70,428,847) |
Maintenance and Repairs of Assets and Systems | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (42,254,075) | (43,441,139) | (48,729,757) |
Electricity and Communications | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (13,677,167) | (14,464,580) | (17,447,618) |
Representation and Travel Expenses | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (808,896) | (725,570) | (409,716) |
Stationery and Office Supplies | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (1,390,650) | (1,029,031) | (1,187,803) |
Rentals | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (632,365) | (1,102,016) | (2,941,850) |
Administrative Services under Contract | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (52,926,504) | (50,994,117) | (46,375,916) |
Security | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (7,010,320) | (6,630,840) | (7,029,782) |
Insurance | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (2,107,685) | (2,505,480) | (2,907,905) |
Armored Transportation Services | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | (18,086,318) | (17,398,822) | (17,221,663) |
Others | |||
Summary Of Expenses By Nature Administrative Expenses [line items] | |||
Administrative Expenses | $ (29,499,201) | $ (26,870,512) | $ (23,936,945) |
Depreciation Expenses - Summary
Depreciation Expenses - Summary of Depreciation and Impairment of Assets (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation amortization and impairment [abstract] | |||
Depreciation of Property, Plant and Equipment | $ (43,213,943) | $ (46,258,382) | $ (51,091,418) |
Amortization of Organization and Development Expenses | (40,517,472) | (39,545,859) | (36,795,856) |
Depreciation of other intangible assets | (1,100) | (1,099) | (273) |
Others | (546,073) | (1,006,220) | (54,303) |
Total | $ (84,278,588) | $ (86,811,560) | $ (87,941,850) |
Other Operating Expenses - Summ
Other Operating Expenses - Summary of Other Operating Expenses (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 565,566,379 | $ 396,299,340 | $ 335,783,492 |
Turnover Tax | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 333,362,380 | 236,258,017 | 194,941,560 |
Contributions to the Deposit Insurance Scheme | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 8,731,059 | 9,082,223 | 9,774,487 |
Charges for Other Provisions | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 13,737,045 | 13,522,709 | 8,786,977 |
Claims | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 15,547,234 | 18,830,313 | 16,711,271 |
Other Financial Expenses | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 35,498,466 | 37,933 | 0 |
Interest on leases | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 3,404,429 | 3,559,813 | 3,216,986 |
Credit-card-relates expenses | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 50,409,675 | 38,059,679 | 39,265,385 |
Other Expenses from Services | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | 95,256,426 | 67,564,429 | 52,215,605 |
Others | |||
Disclosure of other operating expenses [line items] | |||
Other Operating Expenses | $ 9,619,665 | $ 9,384,224 | $ 10,871,221 |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Major components of tax expense (income) [abstract] | |||
Income Before Income Tax for the Year | $ 544,821,641 | $ 201,303,683 | $ 288,879,118 |
Current Tax Rate | 35% | 35% | 35% |
Income for the Year at Tax Rate | $ (190,687,574) | $ (70,456,289) | $ (101,107,691) |
Income for Equity Instruments | 1,025,496 | (480,926) | (274,203) |
Untaxed Income | 7,427,467 | 86,624 | 1,229,453 |
Donations and Other Non-deductible Expenses | (637,849) | (81,075) | (29,973) |
Other | (7,248,363) | (4,007,709) | 1,421,215 |
Inflation effect | (376,659,710) | (252,956,569) | (168,086,175) |
Tax Adjustment | 0 | 0 | 2,691,141 |
Tax inflation adjustment | 360,673,706 | 274,858,560 | 164,400,746 |
Current Income Tax | (294,728,679) | (51,251,420) | (78,655,003) |
Deferred Tax Charge | 158,829,499 | 9,804,586 | (25,869,956) |
Update of the charge tax for inflation effects | (71,622,680) | (10,181,079) | (5,050,214) |
Tax Return adjustment from previous fiscal year | 1,415,033 | (1,409,471) | 9,819,686 |
Total Income Tax Charge for the Year | $ (206,106,827) | $ (53,037,384) | $ (99,755,487) |
Income Tax_Deferred Tax - Sum_2
Income Tax/Deferred Tax - Summary of Current Income Tax Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Major components of tax expense (income) [abstract] | |||
Current Income Tax | $ (294,728,679) | $ (51,251,420) | $ (78,655,003) |
Tax Advances | 22,328,134 | 23,847,756 | 23,154,980 |
Current Income Tax Liabilities | $ (272,400,545) | $ (27,403,664) | $ (55,500,023) |
Income Tax_Deferred Tax - Sum_3
Income Tax/Deferred Tax - Summary of Accumulated Taxable Net Earnings (Details) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | $ 543,010,109 | $ 204,098,950 | $ 288,143,700 |
Income Tax Slab Rate One | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Will pay Ps | $ 0 | $ 0 | |
Plus % | 25% | 25% | |
Income Tax Slab Rate Two | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Will pay Ps | $ 1,901 | $ 3,575 | |
Plus % | 30% | 30% | |
Income Tax Slab Rate Three | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Will pay Ps | $ 22,435 | $ 42,189 | |
Plus % | 35% | 35% | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate One | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | $ 0 | $ 0 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate One | Bottom of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 0 | 0 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate One | Top of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 7,605 | 14,301 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate Two | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 7,605 | 14,301 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate Two | Bottom of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 7,605 | 14,301 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate Two | Top of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 76,049 | 143,012 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate Three | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | 76,049 | 143,012 | |
New Graduated Income Tax Rate Structure | Income Tax Slab Rate Three | Bottom of range | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Accumulated taxable net earnings | $ 76,049 | $ 143,012 |
Income Tax_Deferred Tax - Addit
Income Tax/Deferred Tax - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Changes in tax rates or tax laws enacted or announced [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Tax rate on dividends | 7% |
Dividends - Additional Informat
Dividends - Additional Information (Detail) - ARS ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||||||||||
Sep. 11, 2023 | Aug. 08, 2023 | Jul. 10, 2023 | Jun. 12, 2023 | May 09, 2023 | Apr. 25, 2023 | Jan. 09, 2023 | Sep. 12, 2022 | May 09, 2022 | Apr. 26, 2022 | Apr. 27, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Dividends [Line Items] | ||||||||||||||
Dividends paid, ordinary shares | $ 217,441,420 | $ 99,297,388 | $ 11,682,545 | |||||||||||
General And Extraordinary Shareholders' Meeting | ||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||
Dividend | $ 25,581,333 | |||||||||||||
Dividend per share | $ 6.78 | |||||||||||||
Eventual dividend distribution classified as expense | $ 75,000,000 | |||||||||||||
Dividends paid, ordinary shares | $ 12,500,000 | $ 12,500,000 | $ 12,500,000 | $ 12,500,000 | $ 35,000,000 | |||||||||
Ordinary And Extraordinary Shareholders' Meeting | ||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||
Dividend | $ 8,000,000 | $ 57,487,964 | $ 11,682,545 | |||||||||||
Dividend per share | $ 7.46 | $ 1.02 | ||||||||||||
Dividends paid, ordinary shares | $ 4,000,000 | $ 4,000,000 | ||||||||||||
Optional Reserve for Future Income Distribution | General And Extraordinary Shareholders' Meeting | ||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||
Dividend | 10,000,000 | |||||||||||||
Eventual dividend distribution classified as expense | $ 191,860,028 | |||||||||||||
Dividends paid, ordinary shares | $ 19,161,108 | $ 21,604,102 | $ 24,292,006 | $ 25,833,298 | $ 76,637,662 | |||||||||
Optional Reserve for Future Income Distribution | Ordinary And Extraordinary Shareholders' Meeting | ||||||||||||||
Disclosure Of Dividends [Line Items] | ||||||||||||||
Dividend | $ 41,809,424 | $ 11,000,000 | $ 1,500,000 | |||||||||||
Dividends paid, ordinary shares | $ 11,748,143 | $ 14,610,418 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Earnings Per Share (Detail) - ARS ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [abstract] | |||
Net Income for the Year Attributable to Parent Company´s Owners | $ 337,172,143 | $ 151,257,426 | $ 188,618,946 |
Weighted Average Ordinary Shares (in shares) | 1,474,692 | 1,474,692 | 1,474,692 |
Earnings per Share - Basic (in ars per share) | $ 228.64 | $ 102.57 | $ 127.90 |
Earnings per Share - Diluted (in ars per share) | $ 228.64 | $ 102.57 | $ 127.90 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2023 Segments | |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Net Income from interest | $ 1,727,685,820 | $ 474,947,519 | $ 662,878,484 |
Net fee Income | 471,430,835 | 422,076,432 | 412,499,370 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 273,897,741 | 1,052,905,089 | 579,970,081 |
Income from Derecognition of Assets Measured at Amortized Cost | 42,107,041 | 1,860,458 | 100,277 |
Exchange rate differences on foreign currency | 612,573,105 | 62,666,267 | 27,265,004 |
Other Operating Income | 381,761,004 | 229,783,588 | 155,435,612 |
Income from Insurance Business | 44,584,836 | ||
Insurance Business Result | 36,343,038 | 40,075,037 | 44,584,836 |
Impairment Charge | (190,682,814) | (163,294,445) | (133,151,102) |
Personnel Expenses | (351,459,681) | (301,727,403) | (281,731,346) |
Administrative Expenses | (295,224,397) | (279,393,042) | (272,939,370) |
Depreciation Expenses | (84,278,588) | (86,811,560) | (87,941,850) |
Other Operating Expenses | (565,566,379) | (396,299,340) | (335,783,492) |
Loss on net monetary position | (1,518,506,605) | (851,315,576) | (482,259,367) |
Operating Income | 540,080,120 | 205,473,024 | 288,927,137 |
Share of profit from Associates and Joint Ventures | 2,929,989 | (1,374,074) | (783,437) |
Income before Taxes from Continuing Operations | 543,010,109 | 204,098,950 | 288,143,700 |
Income Tax from Continuing Operations | (205,840,481) | (52,841,496) | (99,524,754) |
Net Income from Continuing Operations | 337,169,628 | 151,257,454 | 188,618,946 |
Net Income for the Year | 337,169,628 | 151,257,454 | 188,618,946 |
Other Comprehensive Income (Loss) | 1,542,671 | (2,991,155) | 504,685 |
Total Comprehensive Income Attributable to Parent company´s owners | 338,714,814 | 148,266,271 | 189,123,631 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | (2,515) | 28 | 0 |
Operating segments | Argentina | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 1,730,412,598 | 481,483,763 | |
Net fee Income | 482,055,942 | 431,461,941 | |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 268,610,079 | 1,045,734,271 | |
Income from Derecognition of Assets Measured at Amortized Cost | 42,107,041 | 1,860,458 | |
Exchange rate differences on foreign currency | 612,413,410 | 62,641,479 | |
Other Operating Income | 388,991,665 | 237,750,700 | |
Insurance Business Result | 21,244,700 | 24,639,180 | |
Impairment Charge | (190,682,814) | (163,294,445) | |
Personnel Expenses | (351,086,954) | (301,507,773) | |
Administrative Expenses | (295,505,737) | (280,563,505) | |
Depreciation Expenses | (84,269,572) | (86,809,175) | |
Other Operating Expenses | (565,565,032) | (396,348,879) | |
Loss on net monetary position | (1,517,933,224) | (851,092,178) | |
Operating Income | 540,792,102 | 205,955,837 | |
Share of profit from Associates and Joint Ventures | 2,929,989 | (1,374,074) | |
Income before Taxes from Continuing Operations | 543,722,091 | 204,581,763 | |
Income Tax from Continuing Operations | (205,840,481) | (52,841,496) | |
Net Income from Continuing Operations | 337,881,610 | 151,740,267 | |
Net Income for the Year | 337,881,610 | 151,740,267 | |
Other Comprehensive Income (Loss) | 671,177 | (3,573,051) | |
Total Comprehensive Income Attributable to Parent company´s owners | 338,555,302 | 148,167,188 | |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | (2,515) | 28 | |
Operating segments | Uruguay | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 0 | 0 | |
Net fee Income | (553,541) | (122,981) | |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 385,418 | 138,701 | |
Income from Derecognition of Assets Measured at Amortized Cost | 0 | 0 | |
Exchange rate differences on foreign currency | 159,695 | 24,788 | |
Other Operating Income | 266,453 | 61,930 | |
Insurance Business Result | 0 | 0 | |
Impairment Charge | 0 | 0 | |
Personnel Expenses | (372,727) | (219,630) | |
Administrative Expenses | (544,029) | (478,967) | |
Depreciation Expenses | (9,016) | (2,385) | |
Other Operating Expenses | (3,029) | (1,196) | |
Loss on net monetary position | (573,381) | (223,398) | |
Operating Income | (1,244,157) | (823,138) | |
Share of profit from Associates and Joint Ventures | 0 | 0 | |
Income before Taxes from Continuing Operations | (1,244,157) | (823,138) | |
Income Tax from Continuing Operations | 0 | 0 | |
Net Income from Continuing Operations | (1,244,157) | (823,138) | |
Net Income for the Year | (1,244,157) | (823,138) | |
Other Comprehensive Income (Loss) | 871,494 | 581,896 | |
Total Comprehensive Income Attributable to Parent company´s owners | (372,663) | (241,242) | |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | 0 | 0 | |
Operating segments | Bank | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 1,461,943,165 | 240,461,814 | 417,744,914 |
Net fee Income | 291,308,376 | 255,931,705 | 255,306,200 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 116,826,823 | 997,642,066 | 579,672,864 |
Income from Derecognition of Assets Measured at Amortized Cost | 42,347,453 | 1,912,283 | 99,088 |
Exchange rate differences on foreign currency | 532,622,795 | 60,255,103 | 22,406,058 |
Other Operating Income | 278,827,435 | 154,698,888 | 99,010,114 |
Income from Insurance Business | 0 | ||
Insurance Business Result | 0 | 0 | |
Impairment Charge | (125,750,326) | (110,110,570) | (87,908,002) |
Personnel Expenses | (251,554,961) | (208,152,430) | (189,101,103) |
Administrative Expenses | (204,566,843) | (197,356,606) | (196,398,875) |
Depreciation Expenses | (70,120,173) | (69,133,836) | (65,648,219) |
Other Operating Expenses | (410,391,059) | (285,193,414) | (247,338,558) |
Loss on net monetary position | (1,223,843,712) | (692,019,044) | (389,734,768) |
Operating Income | 437,648,973 | 148,935,959 | 198,109,713 |
Share of profit from Associates and Joint Ventures | (1,946,669) | (1,374,074) | (783,437) |
Income before Taxes from Continuing Operations | 435,702,304 | 147,561,885 | 197,326,276 |
Income Tax from Continuing Operations | (155,272,782) | (19,580,911) | (59,589,927) |
Net Income from Continuing Operations | 280,429,522 | 127,980,974 | 137,736,349 |
Net Income for the Year | 280,429,522 | 127,980,974 | 137,736,349 |
Other Comprehensive Income (Loss) | 0 | (3,516,138) | 456,243 |
Total Comprehensive Income Attributable to Parent company´s owners | 280,429,522 | 124,464,836 | 138,192,592 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | 0 | 0 | 0 |
Operating segments | Naranja X | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 260,608,702 | 209,707,226 | 227,076,403 |
Net fee Income | 186,248,020 | 175,334,452 | 168,107,624 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 96,839,582 | 41,654,951 | 2,538,024 |
Income from Derecognition of Assets Measured at Amortized Cost | (247,465) | (51,825) | 1,189 |
Exchange rate differences on foreign currency | 4,934,354 | (407,063) | 885,977 |
Other Operating Income | 39,256,149 | 35,795,456 | 36,029,925 |
Income from Insurance Business | 0 | ||
Insurance Business Result | 0 | 0 | |
Impairment Charge | (64,933,672) | (53,187,621) | (45,218,721) |
Personnel Expenses | (77,675,268) | (76,069,669) | (75,406,262) |
Administrative Expenses | (76,730,350) | (69,712,621) | (66,117,904) |
Depreciation Expenses | (12,177,651) | (15,617,031) | (19,850,619) |
Other Operating Expenses | (105,020,142) | (105,504,991) | (85,530,697) |
Loss on net monetary position | (225,076,997) | (129,557,877) | (78,900,186) |
Operating Income | 26,025,262 | 12,383,387 | 63,614,753 |
Share of profit from Associates and Joint Ventures | 0 | 0 | 0 |
Income before Taxes from Continuing Operations | 26,025,262 | 12,383,387 | 63,614,753 |
Income Tax from Continuing Operations | (12,298,583) | (6,088,306) | (25,865,643) |
Net Income from Continuing Operations | 13,726,679 | 6,295,081 | 37,749,110 |
Net Income for the Year | 13,726,679 | 6,295,081 | 37,749,110 |
Other Comprehensive Income (Loss) | 473,099 | (44) | (1,923) |
Total Comprehensive Income Attributable to Parent company´s owners | 14,199,778 | 6,295,037 | 37,747,187 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | 0 | 0 | 0 |
Operating segments | Insurance | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | 8,101,150 | 29,839,442 | 14,145,228 |
Net fee Income | 0 | 0 | 0 |
Net Income from Financial Instruments measured at fair value through Profit or Loss | (11,615,003) | (20,148,716) | (9,166,643) |
Income from Derecognition of Assets Measured at Amortized Cost | 0 | 0 | 0 |
Exchange rate differences on foreign currency | 54,441,086 | 14,079 | 237,393 |
Other Operating Income | 11,956,374 | 5,197,185 | 2,296,106 |
Income from Insurance Business | 25,782,326 | ||
Insurance Business Result | 21,244,700 | 24,639,180 | |
Impairment Charge | 1,184 | 3,746 | (24,379) |
Personnel Expenses | (12,732,861) | (11,533,982) | (9,795,221) |
Administrative Expenses | (6,852,605) | (5,905,239) | (4,934,656) |
Depreciation Expenses | (1,210,764) | (1,742,818) | (2,204,381) |
Other Operating Expenses | (35,547,025) | (73,296) | (83,365) |
Loss on net monetary position | (19,458,601) | (6,065,467) | (4,010,184) |
Operating Income | 8,327,635 | 14,224,114 | 12,242,224 |
Share of profit from Associates and Joint Ventures | 4,876,658 | 0 | 0 |
Income before Taxes from Continuing Operations | 13,204,293 | 14,224,114 | 12,242,224 |
Income Tax from Continuing Operations | (1,828,830) | (6,699,798) | (5,051,093) |
Net Income from Continuing Operations | 11,375,463 | 7,524,316 | 7,191,131 |
Net Income for the Year | 11,375,463 | 7,524,316 | 7,191,131 |
Other Comprehensive Income (Loss) | 198,482 | (56,869) | 74,588 |
Total Comprehensive Income Attributable to Parent company´s owners | 11,576,460 | 7,467,419 | 7,265,719 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | (2,515) | 28 | 0 |
Operating segments | Other Businesses | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | (240,419) | 1,475,281 | 480,495 |
Net fee Income | 3,946,005 | 72,803 | (163,066) |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 66,944,095 | 26,724,671 | 8,981,497 |
Income from Derecognition of Assets Measured at Amortized Cost | 7,053 | 0 | 0 |
Exchange rate differences on foreign currency | 20,574,870 | 2,804,148 | 3,735,576 |
Other Operating Income | 59,218,160 | 42,121,101 | 27,713,454 |
Income from Insurance Business | 0 | ||
Insurance Business Result | 0 | 0 | |
Impairment Charge | 0 | 0 | 0 |
Personnel Expenses | (9,496,591) | (5,971,322) | (7,428,760) |
Administrative Expenses | (7,899,968) | (8,068,006) | (6,340,385) |
Depreciation Expenses | (770,000) | (317,875) | (238,631) |
Other Operating Expenses | (14,609,835) | (5,578,374) | (2,875,299) |
Loss on net monetary position | (50,127,295) | (23,673,188) | (9,614,229) |
Operating Income | 67,546,075 | 29,589,239 | 14,250,652 |
Share of profit from Associates and Joint Ventures | 0 | 0 | 0 |
Income before Taxes from Continuing Operations | 67,546,075 | 29,589,239 | 14,250,652 |
Income Tax from Continuing Operations | (36,440,286) | (20,472,481) | (9,018,091) |
Net Income from Continuing Operations | 31,105,789 | 9,116,758 | 5,232,561 |
Net Income for the Year | 31,105,789 | 9,116,758 | 5,232,561 |
Other Comprehensive Income (Loss) | 871,090 | 581,896 | (24,223) |
Total Comprehensive Income Attributable to Parent company´s owners | 31,976,879 | 9,698,654 | 5,208,338 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | 0 | 0 | 0 |
Adjustments | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | (2,726,778) | (6,536,244) | 3,431,444 |
Net fee Income | (10,071,566) | (9,262,528) | (10,751,388) |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 4,902,244 | 7,032,117 | (2,055,661) |
Income from Derecognition of Assets Measured at Amortized Cost | 0 | 0 | 0 |
Exchange rate differences on foreign currency | 0 | 0 | 0 |
Other Operating Income | (7,497,114) | (8,029,042) | (9,613,987) |
Income from Insurance Business | 18,802,510 | ||
Insurance Business Result | 15,098,338 | 15,435,857 | |
Impairment Charge | 0 | 0 | 0 |
Personnel Expenses | 0 | 0 | 0 |
Administrative Expenses | 825,369 | 1,649,430 | 852,450 |
Depreciation Expenses | 0 | 0 | 0 |
Other Operating Expenses | 1,682 | 50,735 | 44,427 |
Loss on net monetary position | 0 | 0 | 0 |
Operating Income | 532,175 | 340,325 | 709,795 |
Share of profit from Associates and Joint Ventures | 0 | 0 | 0 |
Income before Taxes from Continuing Operations | 532,175 | 340,325 | 709,795 |
Income Tax from Continuing Operations | 0 | 0 | 0 |
Net Income from Continuing Operations | 532,175 | 340,325 | 709,795 |
Net Income for the Year | 532,175 | 340,325 | 709,795 |
Other Comprehensive Income (Loss) | 0 | 0 | 0 |
Total Comprehensive Income Attributable to Parent company´s owners | 532,175 | 340,325 | 709,795 |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | 0 | 0 | $ 0 |
Segment Adjustments | |||
Disclosure of operating segments [line items] | |||
Net Income from interest | (2,726,778) | (6,536,244) | |
Net fee Income | (10,071,566) | (9,262,528) | |
Net Income from Financial Instruments measured at fair value through Profit or Loss | 4,902,244 | 7,032,117 | |
Income from Derecognition of Assets Measured at Amortized Cost | 0 | 0 | |
Exchange rate differences on foreign currency | 0 | 0 | |
Other Operating Income | (7,497,114) | (8,029,042) | |
Insurance Business Result | 15,098,338 | 15,435,857 | |
Impairment Charge | 0 | 0 | |
Personnel Expenses | 0 | 0 | |
Administrative Expenses | 825,369 | 1,649,430 | |
Depreciation Expenses | 0 | 0 | |
Other Operating Expenses | 1,682 | 50,735 | |
Loss on net monetary position | 0 | 0 | |
Operating Income | 532,175 | 340,325 | |
Share of profit from Associates and Joint Ventures | 0 | 0 | |
Income before Taxes from Continuing Operations | 532,175 | 340,325 | |
Income Tax from Continuing Operations | 0 | 0 | |
Net Income from Continuing Operations | 532,175 | 340,325 | |
Net Income for the Year | 532,175 | 340,325 | |
Other Comprehensive Income (Loss) | 0 | 0 | |
Total Comprehensive Income Attributable to Parent company´s owners | 532,175 | 340,325 | |
Total Comprehensive (Loss) / Income Attributable to Non-controlling Interests | $ 0 | $ 0 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Operating Segments ( Balance Sheet ) (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and Due from Banks | $ 1,995,884,822 | $ 1,393,686,854 |
Debt Securities at fair value through profit or loss | 598,794,865 | 2,467,190,345 |
Derivative Financial Instruments | 35,290,286 | 10,362,961 |
Repurchase Transactions | 1,170,165,239 | 359,750,280 |
Other Financial Assets | 178,103,536 | 174,440,243 |
Loans and Other Financing | 3,080,706,325 | 3,871,626,785 |
Other Debt Securities | 1,926,334,348 | 1,141,853,895 |
Financial Assets Pledged as Collateral | 431,557,202 | 473,659,536 |
Current Income Tax Assets | 2,045,887 | 1,277,544 |
Investments in Equity Instruments | 9,637,518 | 6,972,539 |
Equity investments in Associates and Joint Ventures | 2,650,357 | 2,076,371 |
Property, Plant and Equipment | 355,259,161 | 360,675,413 |
Intangible Assets | 123,614,819 | 119,932,486 |
Deferred Income Tax Assets | 189,753,509 | 22,689,298 |
Insurance Contract Assets | 9,821,667 | 3,495,903 |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Other Non-financial Assets | 77,747,320 | 78,383,092 |
Non-current Assets Held for Sale | 74,920 | 3,896 |
Assets | 10,216,057,804 | 10,488,176,207 |
Liabilities | ||
Deposits | 5,707,779,943 | 6,670,282,388 |
Liabilities at fair value through profit or loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 12,238,747 | 5,275,600 |
Repurchase Transactions | 23,346,266 | 0 |
Other Financial Liabilities | 1,273,329,296 | 1,086,252,228 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 138,128,699 | 116,684,862 |
Debt Securities | 92,715,512 | 209,587,705 |
Current Income Tax Liabilities | 272,400,545 | 27,403,664 |
Subordinated Debt Securities | 205,612,893 | 141,394,653 |
Provisions | 20,387,943 | 31,934,926 |
Deferred Income Tax Liabilities | 17,355,336 | 19,825,433 |
Insurance Contracts Liabilities | 105,700,532 | 4,068,201 |
Reinsurance Contracts Liabilities | 2,163,638 | 0 |
Other Non-financial Liabilities | 278,169,377 | 279,341,084 |
Liabilities | 8,198,813,805 | 8,592,294,336 |
Operating segments | Argentina | ||
Assets | ||
Cash and Due from Banks | 2,027,953,634 | 1,397,795,946 |
Debt Securities at fair value through profit or loss | 612,987,005 | 2,478,779,243 |
Derivative Financial Instruments | 41,749,631 | 14,228,081 |
Repurchase Transactions | 1,191,546,653 | 393,745,142 |
Other Financial Assets | 187,975,959 | 174,601,303 |
Loans and Other Financing | 3,146,574,476 | 3,982,031,607 |
Other Debt Securities | 1,926,334,348 | 1,142,983,125 |
Financial Assets Pledged as Collateral | 430,895,166 | 473,107,585 |
Current Income Tax Assets | 2,045,887 | 1,277,544 |
Investments in Equity Instruments | 9,637,518 | 6,972,539 |
Equity investments in Associates and Joint Ventures | 2,650,357 | 2,076,371 |
Property, Plant and Equipment | 354,991,354 | 360,669,210 |
Intangible Assets | 123,613,994 | 119,930,562 |
Deferred Income Tax Assets | 189,753,509 | 22,689,298 |
Insurance Contract Assets | 9,821,667 | 3,495,903 |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Other Non-financial Assets | 77,737,191 | 78,379,231 |
Non-current Assets Held for Sale | 74,920 | 3,896 |
Assets | 10,364,959,292 | 10,652,865,352 |
Liabilities | ||
Deposits | 5,750,572,318 | 6,693,180,180 |
Liabilities at fair value through profit or loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 18,699,617 | 9,140,720 |
Repurchase Transactions | 44,727,680 | 33,994,862 |
Other Financial Liabilities | 1,280,666,786 | 1,074,560,291 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 195,706,835 | 219,662,147 |
Debt Securities | 104,733,356 | 223,353,558 |
Current Income Tax Liabilities | 272,400,545 | 27,403,664 |
Subordinated Debt Securities | 207,787,189 | 141,394,653 |
Provisions | 20,387,943 | 31,934,926 |
Deferred Income Tax Liabilities | 17,355,336 | 19,825,433 |
Insurance Contracts Liabilities | 105,704,654 | 4,081,691 |
Reinsurance Contracts Liabilities | 2,163,638 | |
Other Non-financial Liabilities | 278,025,755 | 278,485,993 |
Liabilities | 8,348,416,730 | 8,757,261,710 |
Operating segments | Uruguay | ||
Assets | ||
Cash and Due from Banks | 856,798 | 11,613,469 |
Debt Securities at fair value through profit or loss | 0 | 1,047,725 |
Derivative Financial Instruments | 1,525 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 0 | 0 |
Loans and Other Financing | 10,436 | 364 |
Other Debt Securities | 0 | 0 |
Financial Assets Pledged as Collateral | 662,036 | 551,951 |
Current Income Tax Assets | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 267,807 | 6,203 |
Intangible Assets | 825 | 1,924 |
Deferred Income Tax Assets | 0 | 0 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | 10,137 | 3,861 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | 1,809,564 | 13,225,497 |
Liabilities | ||
Deposits | 0 | 0 |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Liabilities | 260,885 | 11,925,399 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 0 |
Debt Securities | 0 | 0 |
Current Income Tax Liabilities | 0 | 0 |
Subordinated Debt Securities | 0 | 0 |
Provisions | 0 | 0 |
Deferred Income Tax Liabilities | 0 | 0 |
Insurance Contracts Liabilities | 0 | 0 |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | 847,242 | 1,021,869 |
Liabilities | 1,108,127 | 12,947,268 |
Operating segments | Bank | ||
Assets | ||
Cash and Due from Banks | 1,923,492,910 | 1,352,238,811 |
Debt Securities at fair value through profit or loss | 462,568,153 | 2,465,120,440 |
Derivative Financial Instruments | 35,269,630 | 10,361,046 |
Repurchase Transactions | 1,085,918,848 | 326,075,813 |
Other Financial Assets | 122,736,808 | 136,546,759 |
Loans and Other Financing | 2,231,642,390 | 2,949,581,640 |
Other Debt Securities | 1,791,809,860 | 1,091,174,800 |
Financial Assets Pledged as Collateral | 386,287,915 | 311,693,475 |
Current Income Tax Assets | 0 | 0 |
Investments in Equity Instruments | 6,897,267 | 6,972,517 |
Equity investments in Associates and Joint Ventures | 2,650,357 | 2,076,371 |
Property, Plant and Equipment | 315,533,809 | 317,642,825 |
Intangible Assets | 102,859,938 | 107,513,800 |
Deferred Income Tax Assets | 130,619,812 | 0 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | 56,147,521 | 46,733,979 |
Non-current Assets Held for Sale | 74,920 | 3,896 |
Assets | 8,654,510,138 | 9,123,736,172 |
Liabilities | ||
Deposits | 5,544,973,263 | 6,609,022,940 |
Liabilities at fair value through profit or loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 18,699,617 | 9,140,721 |
Repurchase Transactions | 23,346,266 | 0 |
Other Financial Liabilities | 666,102,899 | 472,735,547 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 43,517,158 | 32,759,770 |
Debt Securities | 15,536,702 | 38,560,273 |
Current Income Tax Liabilities | 236,104,364 | 9,721,726 |
Subordinated Debt Securities | 207,787,189 | 141,394,653 |
Provisions | 17,303,410 | 30,610,661 |
Deferred Income Tax Liabilities | 0 | 16,332,680 |
Insurance Contracts Liabilities | 0 | 0 |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | 188,628,579 | 209,158,102 |
Liabilities | 7,011,484,525 | 7,569,680,665 |
Operating segments | Naranja X | ||
Assets | ||
Cash and Due from Banks | 19,499,608 | 20,640,510 |
Debt Securities at fair value through profit or loss | 63,364,262 | 624,871 |
Derivative Financial Instruments | 6,480,001 | 3,867,035 |
Repurchase Transactions | 105,627,805 | 67,669,329 |
Other Financial Assets | 6,528,263 | 4,126,282 |
Loans and Other Financing | 910,598,989 | 1,022,897,139 |
Other Debt Securities | 118,477,198 | 23,135,122 |
Financial Assets Pledged as Collateral | 31,883,475 | 159,017,265 |
Current Income Tax Assets | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 32,594,924 | 37,401,257 |
Intangible Assets | 8,781,857 | 10,290,005 |
Deferred Income Tax Assets | 29,379,013 | 19,432,837 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | 7,111,263 | 19,558,131 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | 1,340,326,658 | 1,388,659,783 |
Liabilities | ||
Deposits | 205,592,886 | 83,996,986 |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 21,381,414 | 33,994,862 |
Other Financial Liabilities | 533,865,638 | 583,560,862 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 151,641,933 | 186,902,377 |
Debt Securities | 89,196,654 | 184,793,285 |
Current Income Tax Liabilities | 9,946,179 | 3,624,016 |
Subordinated Debt Securities | 0 | 0 |
Provisions | 2,169,812 | 530,997 |
Deferred Income Tax Liabilities | 0 | 0 |
Insurance Contracts Liabilities | 0 | 0 |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | 50,722,836 | 42,567,634 |
Liabilities | 1,064,517,352 | 1,119,971,019 |
Operating segments | Insurance | ||
Assets | ||
Cash and Due from Banks | 4,505,913 | 40,103 |
Debt Securities at fair value through profit or loss | 69,021,323 | 362,600 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 15,484,688 | 3,591,735 |
Loans and Other Financing | 0 | 0 |
Other Debt Securities | 16,047,290 | 18,999,342 |
Financial Assets Pledged as Collateral | 0 | 0 |
Current Income Tax Assets | 1,945,136 | 1,147,220 |
Investments in Equity Instruments | 113,495 | 0 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 6,427,153 | 5,178,335 |
Intangible Assets | 9,904,081 | 229,258 |
Deferred Income Tax Assets | 28,101,866 | 1,389,507 |
Insurance Contract Assets | 9,821,667 | 3,495,903 |
Reinsurance Contract Assets | 28,616,023 | 98,766 |
Other Non-financial Assets | 2,398,533 | 595,963 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | 192,387,168 | 35,128,732 |
Liabilities | ||
Deposits | 0 | 0 |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Liabilities | 0 | 0 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 0 |
Debt Securities | 0 | 0 |
Current Income Tax Liabilities | 8,939,382 | 3,944,915 |
Subordinated Debt Securities | 0 | 0 |
Provisions | 813,844 | 621,588 |
Deferred Income Tax Liabilities | 12,952,332 | 388,195 |
Insurance Contracts Liabilities | 105,704,654 | 4,081,691 |
Reinsurance Contracts Liabilities | 2,163,638 | |
Other Non-financial Liabilities | 27,905,247 | 6,103,048 |
Liabilities | 158,479,097 | 15,139,437 |
Operating segments | Other Businesses | ||
Assets | ||
Cash and Due from Banks | 81,312,001 | 36,489,991 |
Debt Securities at fair value through profit or loss | 18,033,267 | 13,719,057 |
Derivative Financial Instruments | 1,525 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 43,226,200 | 30,336,527 |
Loans and Other Financing | 4,343,533 | 9,553,192 |
Other Debt Securities | 0 | 9,673,861 |
Financial Assets Pledged as Collateral | 13,385,812 | 2,948,796 |
Current Income Tax Assets | 100,751 | 130,324 |
Investments in Equity Instruments | 2,626,756 | 22 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 703,275 | 452,996 |
Intangible Assets | 2,068,943 | 1,899,423 |
Deferred Income Tax Assets | 1,652,818 | 1,866,954 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | 12,090,011 | 11,495,019 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | 179,544,892 | 118,566,162 |
Liabilities | ||
Deposits | 6,169 | 160,254 |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Liabilities | 80,959,134 | 30,189,281 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 547,744 | 0 |
Debt Securities | 0 | 0 |
Current Income Tax Liabilities | 17,410,620 | 10,113,007 |
Subordinated Debt Securities | 0 | 0 |
Provisions | 100,877 | 171,680 |
Deferred Income Tax Liabilities | 4,403,004 | 3,104,558 |
Insurance Contracts Liabilities | 0 | 0 |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | 11,616,335 | 21,679,077 |
Liabilities | 115,043,883 | 65,417,857 |
Adjustments | ||
Assets | ||
Cash and Due from Banks | (32,925,610) | (15,722,561) |
Debt Securities at fair value through profit or loss | (14,192,140) | (12,636,623) |
Derivative Financial Instruments | (6,460,870) | (3,865,120) |
Repurchase Transactions | (21,381,414) | (33,994,862) |
Other Financial Assets | (9,872,423) | (161,060) |
Loans and Other Financing | (65,878,587) | (110,405,186) |
Other Debt Securities | 0 | (1,129,230) |
Financial Assets Pledged as Collateral | 0 | 0 |
Current Income Tax Assets | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 0 | 0 |
Intangible Assets | 0 | 0 |
Deferred Income Tax Assets | 0 | 0 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | (8) | 0 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | (150,711,052) | (177,914,642) |
Liabilities | ||
Deposits | (42,792,375) | (22,897,792) |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | (6,460,870) | (3,865,121) |
Repurchase Transactions | (21,381,414) | (33,994,862) |
Other Financial Liabilities | (7,598,375) | (233,462) |
Financing Received from the Argentine Central Bank and Other Financial Institutions | (57,578,136) | (102,977,285) |
Debt Securities | (12,017,844) | (13,765,853) |
Current Income Tax Liabilities | 0 | 0 |
Subordinated Debt Securities | (2,174,296) | 0 |
Provisions | 0 | 0 |
Deferred Income Tax Liabilities | 0 | 0 |
Insurance Contracts Liabilities | (4,122) | (13,490) |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | (703,620) | (166,777) |
Liabilities | (150,711,052) | (177,914,642) |
Segment Adjustments | ||
Assets | ||
Cash and Due from Banks | (32,925,610) | (15,722,561) |
Debt Securities at fair value through profit or loss | (14,192,140) | (12,636,623) |
Derivative Financial Instruments | (6,460,870) | (3,865,120) |
Repurchase Transactions | (21,381,414) | (33,994,862) |
Other Financial Assets | (9,872,423) | (161,060) |
Loans and Other Financing | (65,878,587) | (110,405,186) |
Other Debt Securities | 0 | (1,129,230) |
Financial Assets Pledged as Collateral | 0 | 0 |
Current Income Tax Assets | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Equity investments in Associates and Joint Ventures | 0 | 0 |
Property, Plant and Equipment | 0 | 0 |
Intangible Assets | 0 | 0 |
Deferred Income Tax Assets | 0 | 0 |
Insurance Contract Assets | 0 | 0 |
Reinsurance Contract Assets | 0 | 0 |
Other Non-financial Assets | (8) | 0 |
Non-current Assets Held for Sale | 0 | 0 |
Assets | (150,711,052) | (177,914,642) |
Liabilities | ||
Deposits | (42,792,375) | (22,897,792) |
Liabilities at fair value through profit or loss | 0 | 0 |
Derivative Financial Instruments | (6,460,870) | (3,865,120) |
Repurchase Transactions | (21,381,414) | (33,994,862) |
Other Financial Liabilities | (7,598,375) | (233,462) |
Financing Received from the Argentine Central Bank and Other Financial Institutions | (57,578,136) | (102,977,285) |
Debt Securities | (12,017,844) | (13,765,853) |
Current Income Tax Liabilities | 0 | 0 |
Subordinated Debt Securities | (2,174,296) | 0 |
Provisions | 0 | 0 |
Deferred Income Tax Liabilities | 0 | 0 |
Insurance Contracts Liabilities | (4,122) | (13,490) |
Reinsurance Contracts Liabilities | 0 | |
Other Non-financial Liabilities | (703,620) | (166,778) |
Liabilities | $ (150,711,052) | $ (177,914,642) |
Capital Management and Risk P_3
Capital Management and Risk Policies - Summary of Regulatory Capital (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [abstract] | ||
Basic Shareholders’ Equity | $ 1,600,079,694 | $ 505,589,433 |
(Deductible Items) | (304,644,028) | (63,094,866) |
Equity Tier 1 | 1,295,435,666 | 442,494,567 |
Complementing shareholders’ Equity | 80,848,330 | 36,138,983 |
Equity Tier 2 | 80,848,330 | 36,138,983 |
Regulatory Capital (RPC) | $ 1,376,283,996 | $ 478,633,550 |
Capital Management and Risk P_4
Capital Management and Risk Policies - Summary of Breakdown of Minimum Capital Requirement (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [abstract] | ||
Credit Risk | $ 288,667,341 | $ 109,407,718 |
Market Risk | 52,837,873 | 6,642,210 |
Operational Risk | 112,505,729 | 36,743,804 |
Minimum Capital Requirement | 454,010,943 | 152,793,732 |
Integration | 1,376,283,996 | 478,633,550 |
Excess | $ 922,273,053 | $ 325,839,818 |
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, 2023 | Dec. 31, 2022 |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Derivatives | $ 12,238,747 | $ 5,275,600 |
Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 2,958,672 | 1,774,725 |
Monetary Financial Liabilities | (2,265,538) | (1,456,634) |
Derivatives | 61,597 | (71,182) |
Net Position | 754,731 | 246,909 |
US Dollar | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 2,926,068 | 1,755,508 |
Monetary Financial Liabilities | (2,259,546) | (1,449,086) |
Derivatives | 61,597 | (71,182) |
Net Position | 728,119 | 235,240 |
Euro | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 30,047 | 17,931 |
Monetary Financial Liabilities | (5,576) | (6,997) |
Derivatives | 0 | 0 |
Net Position | 24,471 | 10,934 |
Canadian Dollar | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 825 | 187 |
Monetary Financial Liabilities | (75) | (37) |
Derivatives | 0 | 0 |
Net Position | 750 | 150 |
Real | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 350 | 218 |
Monetary Financial Liabilities | 0 | 0 |
Derivatives | 0 | 0 |
Net Position | 350 | 218 |
Swiss Franc | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 407 | 249 |
Monetary Financial Liabilities | (299) | (165) |
Derivatives | 0 | 0 |
Net Position | 108 | 84 |
Others | Currency risk | ||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||
Monetary Financial Assets | 975 | 632 |
Monetary Financial Liabilities | (42) | (349) |
Derivatives | 0 | 0 |
Net Position | $ 933 | $ 283 |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Income (Loss) | $ 337,169,628 | $ 151,257,454 | $ 188,618,946 | |
Shareholders’ Equity | $ 2,017,243,999 | 1,895,881,871 | $ 1,846,912,941 | $ 1,669,471,836 |
Currency risk | Top of range | US Dollar | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 72,812 | 23,524 | ||
Shareholders’ Equity | $ 800,931 | 258,764 | ||
Currency risk | Top of range | Euro | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 2,447 | 1,093 | ||
Shareholders’ Equity | $ 26,918 | 12,027 | ||
Currency risk | Top of range | Canadian Dollar | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 75 | 15 | ||
Shareholders’ Equity | $ 825 | 165 | ||
Currency risk | Top of range | Real | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 35 | 22 | ||
Shareholders’ Equity | $ 385 | 240 | ||
Currency risk | Top of range | Swiss Franc | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 11 | 8 | ||
Shareholders’ Equity | $ 119 | 92 | ||
Currency risk | Top of range | Others | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | 10% | |||
Income (Loss) | $ 93 | 28 | ||
Shareholders’ Equity | $ 1,026 | 311 | ||
Currency risk | Bottom of range | US Dollar | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (72,812) | (23,524) | ||
Shareholders’ Equity | $ 655,307 | 211,716 | ||
Currency risk | Bottom of range | Euro | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (2,447) | (1,093) | ||
Shareholders’ Equity | $ 22,024 | 9,841 | ||
Currency risk | Bottom of range | Canadian Dollar | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (75) | (15) | ||
Shareholders’ Equity | $ 675 | 135 | ||
Currency risk | Bottom of range | Real | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (35) | (22) | ||
Shareholders’ Equity | $ 315 | 196 | ||
Currency risk | Bottom of range | Swiss Franc | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (11) | (8) | ||
Shareholders’ Equity | $ 97 | 76 | ||
Currency risk | Bottom of range | Others | ||||
Disclosure of Foreign Exchange Risk Factor [Line items] | ||||
Change | (10.00%) | |||
Income (Loss) | $ (93) | (28) | ||
Shareholders’ Equity | $ 840 | $ 255 |
Capital Management and Risk P_7
Capital Management and Risk Policies - Additional information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 ARS ($) | |
Statement [Line Items] | |
Closing amount of credit risk | $ 29,147,302 |
Confidence level used to determine risk adjustment for non-financial risk | 99.50% |
Percentage of central scenario probability of occurrence | 70% |
Percentage of downside scenario probability of occurrence | 15% |
Percentage of upside scenario probability of occurrence | 15% |
Argentine Pesos | |
Statement [Line Items] | |
Number of basis points | 4% |
US Dollar | |
Statement [Line Items] | |
Number of basis points | 2% |
Capital Management and Risk P_8
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 - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | $ 8,879,564,575 | $ 9,349,610,527 |
Total Financial Liabilities | 7,382,214,121 | 8,203,155,968 |
Net Amount | 1,497,350,454 | 1,146,454,559 |
Less than 1 Month | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 5,102,033,400 | 4,871,202,538 |
Total Financial Liabilities | 5,069,823,014 | 5,599,467,500 |
Net Amount | 32,210,386 | (728,264,962) |
From 30 to 90 | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 551,446,328 | 691,689,079 |
Total Financial Liabilities | 306,215,230 | 442,151,732 |
Net Amount | 245,231,098 | 249,537,347 |
From 90 to 180 | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 465,828,456 | 567,053,947 |
Total Financial Liabilities | 107,809,668 | 241,147,518 |
Net Amount | 358,018,788 | 325,906,429 |
6 to 12 Months | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 327,672,507 | 542,727,230 |
Total Financial Liabilities | 69,605,652 | 103,312,678 |
Net Amount | 258,066,855 | 439,414,552 |
More than 365 | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Total Financial Assets | 2,432,583,884 | 2,676,937,733 |
Total Financial Liabilities | 1,828,760,557 | 1,817,076,540 |
Net Amount | $ 603,823,327 | $ 859,861,193 |
Capital Management and Risk P_9
Capital Management and Risk Policies - Schedule of Sensitivity to Potential Additional Changes in Interest Rates (Detail) - Interest rate risk | 12 Months Ended |
Dec. 31, 2023 ARS ($) | |
Decrease in Interest Rate | |
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 | $ 3,299,498,000 |
Increase/(Decrease) in Shareholders’ Equity in % | $ 0.002 |
Increase in Interest Rate | |
Disclosure of sensitivity analysis market risk [line items] | |
Additional Changes to the Interest Rate | 1% |
Increase/(Decrease) in Income before Income Tax in Pesos | $ (3,299,498,000) |
Increase/(Decrease) in Shareholders’ Equity in % | $ (0.002) |
Capital Management and Risk _10
Capital Management and Risk Policies - Schedule of Analysis of Maturities of Assets and Liabilities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Derivative Financial Instruments | $ 35,290,286 | $ 10,362,961 |
Other Financial Assets | 178,103,536 | 174,440,243 |
Loans and Other Financing | 3,080,706,325 | 3,871,626,785 |
Liabilities | ||
Liabilities measured at Fair Value trough Profit or Loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 12,238,747 | 5,275,600 |
Other Financial Liabilities | 1,273,329,296 | 1,086,252,228 |
Lease Liabilities | 29,460,816 | 23,902,091 |
Subordinated Debt Securities | 205,612,893 | 141,394,653 |
Liquidity risk | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 620,005,496 | 3,182,612,950 |
Derivative Financial Instruments | 35,290,286 | 10,362,961 |
Repurchase Transactions | 1,215,786,083 | 370,641,706 |
Other Financial Assets | 196,173,510 | 188,068,347 |
Loans and Other Financing | 7,098,262,428 | 5,178,997,178 |
Other Debt Securities | 1,940,245,903 | 1,157,365,273 |
Financial Assets Pledged as Collateral | 431,557,202 | 473,659,537 |
Investments in Equity Instruments | 9,637,518 | 6,972,539 |
Liabilities | ||
Deposits | 5,845,745,069 | 6,842,692,464 |
Liabilities measured at Fair Value trough Profit or Loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 12,238,747 | 5,275,600 |
Repurchase Transactions | 23,346,266 | |
Other Financial Liabilities | 1,260,968,491 | 1,072,778,835 |
Lease Liabilities | 19,707,602 | 21,163,464 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 177,384,156 | 153,762,750 |
Debt Securities | 113,306,808 | 310,686,146 |
Subordinated Debt Securities | 237,125,532 | 179,334,710 |
Liquidity risk | Less than 1 Month | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 587,160,439 | 3,157,872,955 |
Derivative Financial Instruments | 35,290,286 | 10,362,961 |
Repurchase Transactions | 1,215,786,083 | 370,641,706 |
Other Financial Assets | 136,192,280 | 142,734,438 |
Loans and Other Financing | 4,776,066,952 | 1,783,781,022 |
Other Debt Securities | 1,930,419,683 | 1,144,304,734 |
Financial Assets Pledged as Collateral | 431,557,202 | 473,659,537 |
Investments in Equity Instruments | 9,637,518 | 6,972,539 |
Liabilities | ||
Deposits | 5,647,823,827 | 6,519,552,836 |
Liabilities measured at Fair Value trough Profit or Loss | 49,485,078 | 243,592 |
Derivative Financial Instruments | 12,238,747 | 5,275,600 |
Repurchase Transactions | 23,346,266 | |
Other Financial Liabilities | 1,088,954,636 | 745,989,831 |
Lease Liabilities | 808,649 | 714,298 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 62,668,525 | 26,996,838 |
Debt Securities | 15,936,208 | 26,024,904 |
Subordinated Debt Securities | 15,123,585 | 5,360,409 |
Liquidity risk | 1 to 6 Months | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 9,803,797 | 3,470,722 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 1,798,376 | 1,265,031 |
Loans and Other Financing | 1,358,395,938 | 1,661,900,533 |
Other Debt Securities | 1,605,063 | 2,001,258 |
Financial Assets Pledged as Collateral | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Liabilities | ||
Deposits | 176,006,996 | 303,856,641 |
Liabilities measured at Fair Value trough Profit or Loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | |
Other Financial Liabilities | 157,107,639 | 314,662,504 |
Lease Liabilities | 2,100,011 | 2,231,557 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 86,372,601 | 63,717,741 |
Debt Securities | 70,318,991 | 120,416,353 |
Subordinated Debt Securities | 0 | 0 |
Liquidity risk | 6 to 12 Months | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 20,832,320 | 4,089,483 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 2,165,150 | 1,533,119 |
Loans and Other Financing | 437,504,077 | 712,190,281 |
Other Debt Securities | 1,802,910 | 2,886,945 |
Financial Assets Pledged as Collateral | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Liabilities | ||
Deposits | 21,841,927 | 18,922,368 |
Liabilities measured at Fair Value trough Profit or Loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | |
Other Financial Liabilities | 2,844,706 | 1,153,164 |
Lease Liabilities | 2,802,852 | 2,774,275 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 23,917,179 | 57,111,181 |
Debt Securities | 19,191,154 | 75,720,724 |
Subordinated Debt Securities | 7,878,160 | 5,360,409 |
Liquidity risk | 12 Months to 5 Years | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 2,208,940 | 17,179,790 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 56,017,704 | 21,025,466 |
Loans and Other Financing | 384,243,976 | 613,435,344 |
Other Debt Securities | 6,418,247 | 8,172,336 |
Financial Assets Pledged as Collateral | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Liabilities | ||
Deposits | 72,319 | 360,563 |
Liabilities measured at Fair Value trough Profit or Loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | |
Other Financial Liabilities | 8,544,409 | 8,115,177 |
Lease Liabilities | 6,721,096 | 10,070,335 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 4,425,851 | 5,936,990 |
Debt Securities | 7,860,455 | 88,524,165 |
Subordinated Debt Securities | 214,123,787 | 168,613,892 |
Liquidity risk | More than 5 Years | ||
Assets | ||
Debt Securities measured at Fair Value through Profit or Loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | 0 |
Other Financial Assets | 0 | 21,510,293 |
Loans and Other Financing | 142,051,485 | 407,689,998 |
Other Debt Securities | 0 | 0 |
Financial Assets Pledged as Collateral | 0 | 0 |
Investments in Equity Instruments | 0 | 0 |
Liabilities | ||
Deposits | 0 | 56 |
Liabilities measured at Fair Value trough Profit or Loss | 0 | 0 |
Derivative Financial Instruments | 0 | 0 |
Repurchase Transactions | 0 | |
Other Financial Liabilities | 3,517,101 | 2,858,159 |
Lease Liabilities | 7,274,994 | 5,372,999 |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 0 | 0 |
Debt Securities | 0 | 0 |
Subordinated Debt Securities | $ 0 | $ 0 |
Capital Management and Risk _11
Capital Management and Risk Policies - Schedule of Credit Quality of Debt Securities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Government Bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 0 | |
Government Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 522,735 | |
Government Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 0 | |
Government Bonds | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Government Bonds | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Government Bonds | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 20,188 | |
Provincial Bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 63,724 | |
Provincial Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 773,915 | |
Provincial Bonds | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,181,653 | |
Provincial Bonds | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 795,647 | |
Provincial Bonds | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 4,439,916 | |
Provincial Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Provincial Bonds | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1 | |
Provincial Bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Autonomous City of Buenos Aires Bonds | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Autonomous City of Buenos Aires Bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Treasury Bills | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Treasury Bills | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,246,150 | |
Argentine Central Bank’s Bills | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Argentine Central Bank’s Bills | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Argentine Central Bank’s Bills | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 15,916,126 | |
Foreign government bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 15,916,126 | |
Foreign government bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Foreign government bonds | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Foreign government bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Private Securities | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Private Securities | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 42,333 | |
Credit risk [member] | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 598,794,865 | 2,467,190,345 |
Credit risk [member] | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 28,604,846 | 8,362,002 |
Credit risk [member] | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,791,486 | 123,193 |
Credit risk [member] | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,840,578 | 1,443,916 |
Credit risk [member] | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 693,598 | 379,668 |
Credit risk [member] | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,595,806 | 24,978 |
Credit risk [member] | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 121,353 | 86,285 |
Credit risk [member] | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,545,463 | 255,893 |
Credit risk [member] | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 267,998 | 1,130,578 |
Credit risk [member] | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,401,077 | 125,943 |
Credit risk [member] | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,312,027 | |
Credit risk [member] | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 65 | |
Credit risk [member] | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 169,500 | 795,647 |
Credit risk [member] | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 4,439,916 | |
Credit risk [member] | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 649,419 | 136,225 |
Credit risk [member] | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1 | |
Credit risk [member] | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 553,113,740 | 204,885,537 |
Credit risk [member] | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,242,688,472 | |
Credit risk [member] | Government Bonds | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 547,347,992 | 31,802,325 |
Credit risk [member] | Government Bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Government Bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Government Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Government Bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 546,825,257 | 31,802,325 |
Credit risk [member] | Government Bonds | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,027,328 | 7,659,762 |
Credit risk [member] | Provincial Bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 242,546 | |
Credit risk [member] | Provincial Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Provincial Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 169,500 | |
Credit risk [member] | Provincial Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Provincial Bonds | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,291,015 | 123,193 |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,291,015 | 123,193 |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Autonomous City of Buenos Aires Bonds | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,246,150 | 173,083,212 |
Credit risk [member] | Treasury Bills | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Treasury Bills | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 0 |
Credit risk [member] | Treasury Bills | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Treasury Bills | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 173,083,212 | |
Credit risk [member] | Treasury Bills | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | 2,242,639,562 |
Credit risk [member] | Argentine Central Bank’s Bills | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Argentine Central Bank’s Bills | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,242,639,562 | |
Credit risk [member] | Foreign government bonds | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 7,982,203 | |
Credit risk [member] | Foreign government bonds | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 7,982,203 | |
Credit risk [member] | Foreign government bonds | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Foreign government bonds | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Private Securities | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 25,966,254 | 3,900,088 |
Credit risk [member] | Private Securities | AAA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 12,668,532 | 379,799 |
Credit risk [member] | Private Securities | AA+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 500,471 | 0 |
Credit risk [member] | Private Securities | AA | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 6,776,854 | 1,201,370 |
Credit risk [member] | Private Securities | AA- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 170,863 | 379,668 |
Credit risk [member] | Private Securities | A+ | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 2,595,806 | 24,978 |
Credit risk [member] | Private Securities | A1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 121,353 | 86,285 |
Credit risk [member] | Private Securities | A | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 1,545,463 | 255,893 |
Credit risk [member] | Private Securities | A2 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 267,998 | 1,130,578 |
Credit risk [member] | Private Securities | A- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 627,162 | 125,943 |
Credit risk [member] | Private Securities | BBB | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 130,374 | |
Credit risk [member] | Private Securities | BBB.ar | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 65 | |
Credit risk [member] | Private Securities | B1 | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Private Securities | B | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Private Securities | BB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 649,419 | 136,225 |
Credit risk [member] | Private Securities | BBB- | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 0 | |
Credit risk [member] | Private Securities | CCC | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | 0 | |
Credit risk [member] | Private Securities | C | ||
Disclosure of Credit Quality of Debt Securities [line items] | ||
Credit quality of debt securities | $ 48,910 |
Capital Management and Risk _12
Capital Management and Risk Policies - Summary of Scenario Probabilities (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Retail, Retail like and Wholesale | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Base | 70% |
Optimistic | 15% |
Pessimistic | 15% |
Naranja | |
Disclosure of Credit Quality of Debt Securities [line items] | |
Base | 70% |
Optimistic | 15% |
Pessimistic | 15% |
Capital Management and Risk _13
Capital Management and Risk Policies - Summary of key macroeconomic variables (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
QI - 2023 | Base | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (6.40%) |
Unemployment Rate | 13.90% |
Real Salary | (17.70%) |
Badlar rate | 87.40% |
Consumer Price Index (CPI) | 372.90% |
QI - 2023 | Optimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (6.10%) |
Unemployment Rate | 8.10% |
Real Salary | (15.60%) |
Badlar rate | 80.30% |
Consumer Price Index (CPI) | 359.10% |
QI - 2023 | Pessimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (7.30%) |
Unemployment Rate | 28.50% |
Real Salary | (20.10%) |
Badlar rate | 117% |
Consumer Price Index (CPI) | 445.60% |
QII - 2023 | Base | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (3.20%) |
Unemployment Rate | 28.70% |
Real Salary | (15.70%) |
Badlar rate | (8.10%) |
Consumer Price Index (CPI) | 385.60% |
QII - 2023 | Optimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (2.60%) |
Unemployment Rate | 22.30% |
Real Salary | (26.30%) |
Badlar rate | (13.50%) |
Consumer Price Index (CPI) | 356% |
QII - 2023 | Pessimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (5.10%) |
Unemployment Rate | 44.70% |
Real Salary | (21.50%) |
Badlar rate | 29.80% |
Consumer Price Index (CPI) | 558.60% |
QIII - 2023 | Base | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (4.00%) |
Unemployment Rate | 13.20% |
Real Salary | (14.60%) |
Badlar rate | (56.00%) |
Consumer Price Index (CPI) | 307.50% |
QIII - 2023 | Optimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (3.10%) |
Unemployment Rate | 7.30% |
Real Salary | (7.40%) |
Badlar rate | (60.40%) |
Consumer Price Index (CPI) | 269.60% |
QIII - 2023 | Pessimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (6.80%) |
Unemployment Rate | 27.90% |
Real Salary | (23.70%) |
Badlar rate | (5.50%) |
Consumer Price Index (CPI) | 553.70% |
QIV - 2023 | Base | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 1.90% |
Unemployment Rate | 2.70% |
Real Salary | (7.30%) |
Badlar rate | (67.50%) |
Consumer Price Index (CPI) | 194.30% |
QIV - 2023 | Optimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | 3.10% |
Unemployment Rate | (2.70%) |
Real Salary | 3.50% |
Badlar rate | (71.40%) |
Consumer Price Index (CPI) | 157.70% |
QIV - 2023 | Pessimistic | |
Disclosure of Credit Quality of Debt Securities [line items] | |
GDP | (2.10%) |
Unemployment Rate | 16.40% |
Real Salary | (20.60%) |
Badlar rate | (16.80%) |
Consumer Price Index (CPI) | 459.30% |
Capital Management and Risk _14
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, 2023 USD ($) | Dec. 31, 2023 ARS ($) | Dec. 31, 2022 | |
Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | $ 138,300,714 | ||
Sensitivity analysis amount | 138,201,763 | ||
Retail, Retail like and Wholesale | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 95,700,960 | ||
Sensitivity analysis amount | 95,749,978 | ||
Naranja ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario amount | 42,599,754 | ||
Sensitivity analysis amount | $ 42,451,785 | ||
Regular scenario | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario | 70% | 70% | |
Sensitivity | 45% | 45% | |
Macroeconomic scenario probability | 70% | ||
GDP | 1% | 1% | |
Unemployment Rate | 10% | 10% | |
Real Salary | (5.00%) | (5.00%) | |
Badlar | 5% | 5% | |
Consumer Price Index (CPI) | 2% | 2% | |
Positive scenario | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario | 15% | 15% | |
Sensitivity | 10% | 10% | |
Macroeconomic scenario probability | 15% | 15% | |
GDP | 1% | 1% | |
Unemployment Rate | 10% | 10% | |
Real Salary | (5.00%) | (5.00%) | |
Badlar | 2% | 2% | |
Consumer Price Index (CPI) | 2% | 2% | |
Positive scenario | Grupo Financiero Galicia ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 141,157,421 | ||
Positive scenario | Retail, Retail like and Wholesale | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | 95,702,446 | ||
Positive scenario | Naranja ECL | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Effect of Change in forecast amount | $ 45,454,975 | ||
Negative scenario | |||
Disclosure of maturity analysis for derivative financial liabilities [line items] | |||
Base scenario | 15% | 15% | |
Sensitivity | 45% | 45% | |
Macroeconomic scenario probability | 15% | ||
GDP | 1% | 1% | |
Unemployment Rate | 10% | 10% | |
Real Salary | (5.00%) | (5.00%) | |
Badlar | 5% | 5% | |
Consumer Price Index (CPI) | 2% | 2% |
Capital Management and Risk _15
Capital Management and Risk Policies - Summary of Maximum Exposure to Credit Risk on Assests (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Retail Portfolio | Gross Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | $ 1,056,765,272 | $ 1,325,949,722 | $ 1,496,126,042 | |
Retail Portfolio | Gross Carrying amount | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 974,756,352 | 1,212,714,389 | 1,350,644,656 | |
Retail Portfolio | Gross Carrying amount | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 25,983,438 | 35,794,556 | 36,938,393 | |
Retail Portfolio | Gross Carrying amount | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 9,171,018 | 12,636,265 | 13,528,448 | |
Retail Portfolio | Gross Carrying amount | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 7,842,736 | 14,129,903 | 9,428,290 | |
Retail Portfolio | Gross Carrying amount | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 39,011,728 | 50,674,609 | 85,586,255 | |
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 775,935,358 | 1,074,535,580 | ||
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 762,818,569 | 1,053,027,127 | ||
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 13,116,789 | 21,508,453 | ||
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 228,241,598 | 185,219,368 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 203,339,455 | 151,046,151 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 11,395,258 | 12,429,341 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 8,057,236 | 11,130,998 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,449,649 | 10,612,878 | ||
Retail Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 52,588,316 | 66,194,774 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 8,598,328 | 8,641,111 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,471,391 | 1,856,762 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,113,782 | 1,505,267 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,393,087 | 3,517,025 | ||
Retail Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 39,011,728 | 50,674,609 | ||
Retail Portfolio | Net Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 985,332,656 | 1,195,429,517 | 1,306,726,630 | |
Loss allowance | (71,432,616) | (130,520,205) | (189,399,412) | |
Retail Portfolio | Net Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 760,833,703 | 1,031,561,434 | ||
Loss allowance | (15,101,655) | (42,974,146) | ||
Retail Portfolio | Net Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 212,934,610 | 152,679,527 | ||
Loss allowance | (15,306,988) | (32,539,841) | ||
Retail Portfolio | Net Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 11,564,343 | 11,188,556 | ||
Loss allowance | (41,023,973) | (55,006,218) | ||
Retail like Portfolio | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 13,515,600 | 25,139,015 | 25,650,152 | $ 41,402,347 |
Retail like Portfolio | Stage 1 | 12-month ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 2,680,004 | 13,889,055 | 1,563,696 | 5,120,155 |
Retail like Portfolio | Stage 2 | Lifetime ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 2,333,631 | 2,658,858 | 8,257,699 | 19,510,545 |
Retail like Portfolio | Stage 3 | Lifetime ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 8,501,965 | 8,591,102 | 15,828,757 | 16,771,647 |
Retail like Portfolio | Gross Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 679,181,380 | 961,424,176 | 1,063,778,370 | |
Retail like Portfolio | Gross Carrying amount | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 652,807,773 | 934,271,909 | 1,035,154,399 | |
Retail like Portfolio | Gross Carrying amount | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 10,097,851 | 13,554,170 | 11,156,802 | |
Retail like Portfolio | Gross Carrying amount | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,974,954 | 3,624,097 | 2,350,639 | |
Retail like Portfolio | Gross Carrying amount | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,015,401 | 1,972,051 | 1,605,661 | |
Retail like Portfolio | Gross Carrying amount | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 11,285,401 | 8,001,949 | 13,510,869 | |
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 555,690,733 | 898,362,426 | ||
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 550,175,218 | 888,235,418 | ||
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,842,926 | 10,127,008 | ||
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 645,195 | 0 | ||
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 27,394 | 0 | ||
Retail like Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 107,383,252 | 49,368,217 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 99,560,292 | 42,949,221 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,451,498 | 2,382,424 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,913,694 | 3,067,303 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,457,768 | 969,269 | ||
Retail like Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 16,107,395 | 13,693,533 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 3,072,263 | 3,087,270 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 803,427 | 1,044,738 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 416,065 | 556,794 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 530,239 | 1,002,782 | ||
Retail like Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 11,285,401 | 8,001,949 | ||
Retail like Portfolio | Net Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 665,665,780 | 936,285,161 | 1,038,128,218 | |
Loss allowance | (13,515,600) | (25,139,015) | (25,650,152) | |
Retail like Portfolio | Net Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 553,010,729 | 884,473,371 | ||
Loss allowance | (2,680,004) | (13,889,055) | ||
Retail like Portfolio | Net Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 105,049,621 | 46,709,359 | ||
Loss allowance | (2,333,631) | (2,658,858) | ||
Retail like Portfolio | Net Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 7,605,430 | 5,102,431 | ||
Loss allowance | (8,501,965) | (8,591,102) | ||
Wholesale Portfolio | Gross Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,135,113,182 | 2,834,961,466 | 3,122,801,864 | |
Wholesale Portfolio | Gross Carrying amount | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,360,741 | 1,266,971 | 4,428,696 | |
Wholesale Portfolio | Gross Carrying amount | A | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,131,519,490 | 2,830,702,618 | 3,117,071,671 | |
Wholesale Portfolio | Gross Carrying amount | B1 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,232,951 | 2,991,877 | 1,301,497 | |
Wholesale Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,056,209,449 | 2,815,090,330 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | A | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,056,209,449 | 2,815,090,330 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 1 | 12-month ECL | B1 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 77,533,939 | 18,604,165 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Default | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | |||
Wholesale Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | |||
Wholesale Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | A | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 75,310,041 | 15,612,288 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 2 | Lifetime ECL | B1 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 2,223,898 | 2,991,877 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,369,794 | 1,266,971 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,360,741 | 1,266,971 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | A | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Wholesale Portfolio | Gross Carrying amount | Stage 3 | Lifetime ECL | B1 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 9,053 | 0 | ||
Wholesale Portfolio | Net Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,124,360,438 | 2,824,034,832 | 3,107,547,065 | |
Loss allowance | (10,752,744) | (10,926,634) | (15,254,799) | |
Wholesale Portfolio | Net Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 4,048,556,369 | 2,806,336,185 | ||
Loss allowance | (7,653,080) | (8,754,145) | ||
Wholesale Portfolio | Net Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 75,397,840 | 17,276,052 | ||
Loss allowance | (2,136,099) | (1,328,113) | ||
Wholesale Portfolio | Net Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 406,229 | 422,595 | ||
Loss allowance | (963,565) | (844,376) | ||
Naranja ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 42,599,754 | 51,284,349 | 58,431,456 | 56,267,005 |
Naranja ECL | Stage 1 | 12-month ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 25,015,691 | 24,520,830 | 34,441,321 | 33,947,653 |
Naranja ECL | Stage 2 | Lifetime ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 6,166,747 | 10,267,926 | 7,627,398 | 5,394,381 |
Naranja ECL | Stage 3 | Lifetime ECL | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Loss allowance | 11,417,316 | 16,495,593 | 16,362,737 | $ 16,924,971 |
Naranja ECL | Gross Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 947,424,059 | 1,070,224,621 | 1,122,797,013 | |
Naranja ECL | Gross Carrying amount | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 873,307,827 | 953,499,450 | 1,027,311,261 | |
Naranja ECL | Gross Carrying amount | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 38,363,883 | 60,540,414 | 49,009,039 | |
Naranja ECL | Gross Carrying amount | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,351,745 | 21,261,529 | 14,712,358 | |
Naranja ECL | Gross Carrying amount | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,094,153 | 9,137,563 | 7,701,379 | |
Naranja ECL | Gross Carrying amount | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 18,306,451 | 25,785,665 | 24,062,976 | |
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 905,234,899 | 1,003,376,463 | ||
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 868,300,688 | 945,781,358 | ||
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 36,934,211 | 57,595,105 | ||
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Naranja ECL | Gross Carrying amount | Stage 1 | 12-month ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 23,882,709 | 38,320,153 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,007,139 | 6,214,800 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 1,429,672 | 2,511,957 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 12,351,745 | 20,810,875 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 5,094,153 | 8,782,521 | ||
Naranja ECL | Gross Carrying amount | Stage 2 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 0 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 18,306,451 | 28,528,005 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | 0 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 1,503,292 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | Less than 1 Month | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 433,352 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | 31-60 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 450,654 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | 61-90 | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 0 | 355,042 | ||
Naranja ECL | Gross Carrying amount | Stage 3 | Lifetime ECL | Default | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 18,306,451 | 25,785,665 | ||
Naranja ECL | Net Carrying amount | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 904,824,305 | 1,018,940,272 | 1,064,365,557 | |
Loss allowance | (42,599,754) | (51,284,349) | $ (58,431,456) | |
Naranja ECL | Net Carrying amount | Stage 1 | 12-month ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 880,219,208 | 978,855,633 | ||
Loss allowance | (25,015,691) | (24,520,830) | ||
Naranja ECL | Net Carrying amount | Stage 2 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 17,715,962 | 28,052,227 | ||
Loss allowance | (6,166,747) | (10,267,926) | ||
Naranja ECL | Net Carrying amount | Stage 3 | Lifetime ECL | ECL Staging | ||||
Disclosure of Credit Quality of Debt Securities [line items] | ||||
Credit Exposure | 6,889,135 | 12,032,412 | ||
Loss allowance | $ (11,417,316) | $ (16,495,593) |
Capital Management and Risk _16
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, 2023 ARS ($) | |
Carrying Amount | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | $ 119,850,633 |
Documents | 703,859,191 |
Mortgage Loans | 37,915,833 |
Pledge Loans | 45,092,352 |
Personal Loans | 255,726,017 |
Credit Card Loans | 1,706,968,422 |
Financial Leases | 6,393,224 |
Others | 3,942,678,221 |
Total as of December 31, 2023 | 6,818,483,893 |
Loss Allowances | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | (3,003,809) |
Documents | (2,413,581) |
Mortgage Loans | (4,635,772) |
Pledge Loans | (387,208) |
Personal Loans | (28,140,840) |
Credit Card Loans | (66,983,151) |
Financial Leases | (133,848) |
Others | (32,602,505) |
Total as of December 31, 2023 | (138,300,714) |
Net Gross Carrying Amount | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | 116,846,824 |
Documents | 701,445,610 |
Mortgage Loans | 33,280,061 |
Pledge Loans | 44,705,144 |
Personal Loans | 227,585,177 |
Credit Card Loans | 1,639,985,271 |
Financial Leases | 6,259,376 |
Others | 3,910,075,716 |
Total as of December 31, 2023 | 6,680,183,179 |
Collateral´s Fair Value | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Advances | 0 |
Documents | 0 |
Mortgage Loans | 1,094,745,502 |
Pledge Loans | 544,782,445 |
Personal Loans | 0 |
Credit Card Loans | 0 |
Financial Leases | 0 |
Others | 298,730,043 |
Total as of December 31, 2023 | $ 1,938,257,990 |
Capital Management and Risk _17
Capital Management and Risk Policies - Summary of Mortgage Portfolio LTV Distribution (Detail) $ in Thousands | Dec. 31, 2023 ARS ($) |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | $ 131,933 |
Lower than 50% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 130,646 |
50 to 60% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 793 |
60 to 70% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 177 |
70 to 80% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 47 |
80 to 90% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 0 |
90 to 100% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | 35 |
Higher than 100% | |
Disclosure of mortgage portfolio loan to value distribution [line items] | |
Exposure | $ 235 |
Capital Management and Risk _18
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Retail Portfolio | |||
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 | $ 130,520,205 | $ 189,399,413 | $ 214,951,505 |
Inflation effect | (117,806,455) | (96,805,082) | (81,290,168) |
New Financial Assets Originated or Purchased | 435,035,017 | 598,797,519 | |
Foreign exchange and other movements | (323,267,321) | (205,856,502) | |
Loss allowance, Ending Balance | 71,432,616 | 130,520,205 | 189,399,413 |
Retail like Portfolio | |||
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 | 25,139,015 | 25,650,152 | 41,402,347 |
Inflation effect | (23,057,793) | (15,058,952) | (13,435,533) |
New Financial Assets Originated or Purchased | 517,585,060 | 739,639,103 | |
Foreign exchange and other movements | (49,316,734) | (20,684,549) | |
Loss allowance, Ending Balance | 13,515,600 | 25,139,015 | 25,650,152 |
Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 10,926,634 | 15,254,798 | 29,204,593 |
Inflation effect | (11,172,043) | (6,733,590) | (8,692,420) |
New Financial Assets Originated or Purchased | 3,985,880,201 | 2,545,644,783 | |
Foreign exchange and other movements | 108,773,960 | (140,722,994) | |
Loss allowance, Ending Balance | 10,752,744 | 10,926,634 | 15,254,798 |
Naranja ECL | |||
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 | 51,284,349 | 58,431,456 | 56,267,005 |
Inflation effect | (50,403,148) | (36,741,624) | (21,622,017) |
New Financial Assets Originated or Purchased | 620,144,128 | 526,470,724 | |
Foreign exchange and other movements | 0 | 0 | |
Loss allowance, Ending Balance | 42,599,754 | 51,284,349 | 58,431,456 |
12-month ECL | Stage 1 | Retail Portfolio | |||
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 | 42,974,146 | 35,456,694 | 45,361,630 |
Inflation effect | (30,352,970) | (22,036,893) | (15,980,669) |
New Financial Assets Originated or Purchased | 285,815,964 | 474,672,163 | |
Foreign exchange and other movements | (267,143,012) | (188,446,903) | |
Loss allowance, Ending Balance | 15,101,655 | 42,974,146 | 35,456,694 |
12-month ECL | Stage 1 | Retail like Portfolio | |||
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 | 13,889,055 | 1,563,696 | 5,120,155 |
Inflation effect | (9,084,336) | (4,076,936) | (1,238,798) |
New Financial Assets Originated or Purchased | 433,309,384 | 707,188,377 | |
Foreign exchange and other movements | (38,142,622) | (16,587,359) | |
Loss allowance, Ending Balance | 2,680,004 | 13,889,055 | 1,563,696 |
12-month ECL | Stage 1 | Wholesale Portfolio | |||
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 | 8,754,145 | 8,887,854 | 17,943,430 |
Inflation effect | (7,673,493) | (4,266,417) | (5,049,615) |
New Financial Assets Originated or Purchased | 3,932,818,920 | 2,536,541,266 | |
Foreign exchange and other movements | 137,572,453 | (139,163,791) | |
Loss allowance, Ending Balance | 7,653,080 | 8,754,145 | 8,887,854 |
12-month ECL | Stage 1 | Naranja ECL | |||
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 | 24,520,830 | 34,441,321 | 33,947,653 |
Inflation effect | (27,262,178) | (19,568,650) | (12,923,549) |
New Financial Assets Originated or Purchased | 596,459,536 | 492,676,735 | |
Foreign exchange and other movements | 0 | 0 | |
Loss allowance, Ending Balance | 25,015,691 | 24,520,830 | 34,441,321 |
Lifetime ECL | Stage 2 | Retail Portfolio | |||
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 | 32,539,841 | 60,763,694 | 115,624,098 |
Inflation effect | (27,944,697) | (29,166,427) | (36,157,419) |
New Financial Assets Originated or Purchased | 117,018,046 | 95,048,103 | |
Foreign exchange and other movements | (54,004,979) | (18,475,323) | |
Loss allowance, Ending Balance | 15,306,988 | 32,539,841 | 60,763,694 |
Lifetime ECL | Stage 2 | Retail like Portfolio | |||
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 | 2,658,858 | 8,257,699 | 19,510,545 |
Inflation effect | (2,977,016) | (3,565,336) | (5,656,468) |
New Financial Assets Originated or Purchased | 73,409,888 | 24,765,188 | |
Foreign exchange and other movements | (8,832,400) | (2,948,890) | |
Loss allowance, Ending Balance | 2,333,631 | 2,658,858 | 8,257,699 |
Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
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 | 1,328,113 | 1,940,686 | 5,705,215 |
Inflation effect | (2,282,627) | (1,003,679) | (2,066,155) |
New Financial Assets Originated or Purchased | 51,700,540 | 8,555,259 | |
Foreign exchange and other movements | (14,522,625) | 7,237 | |
Loss allowance, Ending Balance | 2,136,099 | 1,328,113 | 1,940,686 |
Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Loss Allowance, Beginning Balance | 10,267,926 | 7,627,398 | 5,394,381 |
Inflation effect | (9,262,754) | (6,207,462) | (2,548,429) |
New Financial Assets Originated or Purchased | 15,350,957 | 22,625,475 | |
Foreign exchange and other movements | 0 | 0 | |
Loss allowance, Ending Balance | 6,166,747 | 10,267,926 | 7,627,398 |
Lifetime ECL | Stage 3 | Retail Portfolio | |||
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 | 55,006,218 | 93,179,025 | 53,965,777 |
Inflation effect | (59,508,788) | (45,601,762) | (29,152,080) |
New Financial Assets Originated or Purchased | 32,201,007 | 29,077,253 | |
Foreign exchange and other movements | (2,119,330) | 1,065,724 | |
Loss allowance, Ending Balance | 41,023,973 | 55,006,218 | 93,179,025 |
Lifetime ECL | Stage 3 | Retail like Portfolio | |||
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 | 8,591,102 | 15,828,757 | 16,771,647 |
Inflation effect | (10,996,441) | (7,416,680) | (6,540,267) |
New Financial Assets Originated or Purchased | 10,865,788 | 7,685,538 | |
Foreign exchange and other movements | (2,341,712) | (1,148,300) | |
Loss allowance, Ending Balance | 8,501,965 | 8,591,102 | 15,828,757 |
Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
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 | 844,376 | 4,426,258 | 5,555,948 |
Inflation effect | (1,215,923) | (1,463,494) | (1,576,650) |
New Financial Assets Originated or Purchased | 1,360,741 | 548,258 | |
Foreign exchange and other movements | (14,275,868) | (1,566,440) | |
Loss allowance, Ending Balance | 963,565 | 844,376 | 4,426,258 |
Lifetime ECL | Stage 3 | Naranja ECL | |||
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 | 16,495,593 | 16,362,737 | 16,924,971 |
Inflation effect | (13,878,216) | (10,965,512) | (6,150,039) |
New Financial Assets Originated or Purchased | 8,333,635 | 11,168,514 | |
Foreign exchange and other movements | 0 | 0 | |
Loss allowance, Ending Balance | 11,417,316 | 16,495,593 | 16,362,737 |
Movements with P&L Impact | Retail Portfolio | |||
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 | 88,202,384 | 89,380,788 | 81,425,877 |
Changes in PDs/LGDs/EADs | (7,193,331) | 1,806,606 | 137,212 |
Foreign exchange and other movements | 8,067,142 | (14,044,653) | (3,104,540) |
Movements with P&L Impact | Retail like Portfolio | |||
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 | 18,694,433 | 23,344,994 | 13,851,875 |
Changes in PDs/LGDs/EADs | (60,206) | 2,674,250 | (4,206,632) |
Foreign exchange and other movements | 1,864,657 | (6,069,986) | (4,005,107) |
Movements with P&L Impact | Wholesale Portfolio | |||
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 | 16,233,860 | 11,543,224 | 7,366,990 |
Changes in PDs/LGDs/EADs | (375,998) | (109,681) | 1,262,343 |
Foreign exchange and other movements | (374,027) | 394,016 | (7,417,080) |
Movements with P&L Impact | Naranja ECL | |||
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 | 17,405,570 | 44,777,943 | 48,071,534 |
Changes in PDs/LGDs/EADs | 38,240,516 | (6,988,754) | (8,869,821) |
Foreign exchange and other movements | 4,164,469 | 7,826,562 | (874,488) |
Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
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 | 13,368,666 | 33,659,996 | 11,264,894 |
Changes in PDs/LGDs/EADs | (3,512,800) | 2,838,583 | 2,058,068 |
Foreign exchange and other movements | (4,440,496) | (6,345,133) | (5,474,269) |
Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
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 | 3,156,998 | 15,004,299 | 1,023,419 |
Changes in PDs/LGDs/EADs | 148,345 | 2,205,152 | (1,569,367) |
Foreign exchange and other movements | (204,005) | (392,333) | (11,282) |
Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
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 | 12,520,867 | 9,868,897 | 6,078,500 |
Changes in PDs/LGDs/EADs | (127,921) | (9,274) | 1,458,518 |
Foreign exchange and other movements | (2,258,076) | (238,257) | (9,368,416) |
Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
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 | 10,075,176 | 11,860,265 | 21,671,204 |
Changes in PDs/LGDs/EADs | 15,707,862 | (5,255,789) | (6,153,814) |
Foreign exchange and other movements | 3,189,840 | 5,895,887 | (514,713) |
Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
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 | 15,263,748 | 25,469,044 | 14,460,843 |
Changes in PDs/LGDs/EADs | (615,767) | 3,470,451 | 5,190,113 |
Foreign exchange and other movements | 3,543,244 | (12,475,697) | (31,997,631) |
Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
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 | 2,613,554 | 1,976,663 | 305,369 |
Changes in PDs/LGDs/EADs | 43,190 | 547,741 | (1,062,601) |
Foreign exchange and other movements | 445,542 | (4,182,398) | (4,262,688) |
Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
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 | 1,619,761 | 1,213,064 | 1,286,693 |
Changes in PDs/LGDs/EADs | 23,509 | (100,105) | 78,113 |
Foreign exchange and other movements | 1,832,806 | 197,968 | (156,825) |
Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
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 | 2,984,277 | 12,791,281 | 8,666,319 |
Changes in PDs/LGDs/EADs | 7,106,905 | (534,279) | (857,769) |
Foreign exchange and other movements | 513,464 | (721,983) | (114,386) |
Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
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 | 59,569,970 | 30,251,748 | 55,700,140 |
Changes in PDs/LGDs/EADs | (3,064,764) | (4,502,428) | (7,110,969) |
Foreign exchange and other movements | 8,964,394 | 4,776,177 | 34,367,360 |
Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
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 | 12,923,881 | 6,364,032 | 12,523,087 |
Changes in PDs/LGDs/EADs | (251,741) | (78,643) | (1,574,664) |
Foreign exchange and other movements | 1,623,120 | (1,495,255) | 268,863 |
Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
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 | 2,093,232 | 461,263 | 1,797 |
Changes in PDs/LGDs/EADs | (271,586) | (302) | (274,288) |
Foreign exchange and other movements | 51,243 | 434,305 | 2,108,161 |
Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
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 | 4,346,117 | 20,126,397 | 17,734,011 |
Changes in PDs/LGDs/EADs | 15,425,749 | (1,198,686) | (1,858,238) |
Foreign exchange and other movements | 461,165 | 2,652,658 | (245,389) |
Other movements with no P&L impact | Retail Portfolio | |||
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 | (30,357,329) | (39,216,867) | (22,720,473) |
Other movements with no P&L impact | Retail like Portfolio | |||
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 | (9,064,506) | (5,401,443) | (7,956,798) |
Other movements with no P&L impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (4,485,682) | (9,422,133) | (6,469,628) |
Other movements with no P&L impact | Naranja ECL | |||
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 | (18,092,002) | (16,021,234) | (14,540,757) |
Other movements with no P&L impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
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 | (3,548,060) | (5,109,798) | (3,375,905) |
Other movements with no P&L impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (4,942,979) | (617,677) | (2,154,651) |
Other movements with no P&L impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
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 | (3,434,387) | (5,672,483) | (2,893,080) |
Other movements with no P&L impact | 12-month ECL | Stage 1 | Naranja ECL | |||
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 | (1,820,589) | (1,858,798) | (2,645,022) |
Other movements with no P&L impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
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 | (6,510,662) | (13,162,239) | (4,496,325) |
Other movements with no P&L impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
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 | (614,649) | (373,409) | (545,181) |
Other movements with no P&L impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
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 | (495,117) | (733,602) | (317,119) |
Other movements with no P&L impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Write-offs and other movements | (4,276,206) | (2,188,501) | (1,525,742) |
Other movements with no P&L impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
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 | (20,298,607) | (20,944,830) | (14,848,243) |
Other movements with no P&L impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
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 | (3,506,878) | (4,410,357) | (5,256,966) |
Other movements with no P&L impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
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 | (556,178) | (3,016,048) | (3,259,429) |
Other movements with no P&L impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
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 | (11,995,207) | (11,973,935) | (10,369,993) |
Transfer from Stage 1 to Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 37,704,886 | 29,466,360 | |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 22,165,829 | 8,356,366 | |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 8,874,051 | 2,072,542 | |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 7,125,763 | 15,057,706 | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (37,704,886) | (29,466,360) | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (22,165,829) | (8,356,366) | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (8,874,051) | (2,072,542) | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (7,125,763) | (15,057,706) | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,754,186) | (1,203,771) | (3,115,702) |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (401,590) | (33,040) | (229,131) |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (109,941) | (7,327) | (129,321) |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (425,804) | (708,353) | (510,310) |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,754,186 | 1,203,771 | 3,115,702 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 401,590 | 33,040 | 229,131 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 109,941 | 7,327 | 129,321 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 425,804 | 708,353 | 510,310 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 8,051,270 | 10,210,991 | |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,297,079 | 955,106 | |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 379,878 | 796,279 | |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 7,808,405 | 13,984,940 | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (8,051,270) | (10,210,991) | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,297,079) | (955,106) | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (379,878) | (796,279) | |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (7,808,405) | (13,984,940) | |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (845,642) | (633,232) | (1,118,645) |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (84,635) | (8,330) | (70,425) |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (18,401) | (2,251) | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (505,604) | (849,364) | (818,018) |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 845,642 | 633,232 | 1,118,645 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 84,635 | 8,330 | 70,425 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 18,401 | 2,251 | 0 |
Transfer from Stage 1 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 505,604 | 849,364 | 818,018 |
Transfer from Stage 2 to Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (16,099,911) | (69,019,503) | |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (5,542,982) | (21,330,916) | |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (12,279) | (11,338,645) | |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (5,211,980) | (8,999,967) | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 16,099,911 | 69,019,503 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 5,542,982 | 21,330,916 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 12,279 | 11,338,645 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 5,211,980 | 8,999,967 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 2,290,494 | 3,564,092 | 4,372,817 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 180,853 | 141,578 | 276,331 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 287 | 193,403 | 847,838 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 381 | 498,641 | 1,350,027 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (2,290,494) | (3,564,092) | (4,372,817) |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (180,853) | (141,578) | (276,331) |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (287) | (193,403) | (847,838) |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (438,526) | (498,641) | (1,350,027) |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 438,145 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 4,682,419 | 8,429,836 | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 554,310 | 874,261 | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 45,690 | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,638,253 | 3,120,551 | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (4,682,419) | (8,429,836) | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (554,310) | (874,261) | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | (45,690) | |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,638,253) | (3,120,551) | |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,203,054 | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,335,010) | (1,732,725) | (3,411,057) |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (81,190) | (38,154) | (269,034) |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | (143) | (1,870,719) |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,203,539) | (756,225) | (611,904) |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,335,010 | 1,732,725 | 3,411,057 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 81,190 | 38,154 | 269,034 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 143 | 1,870,719 |
Transfer from Stage 2 to Stage 3 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 485 | 756,225 | 611,904 |
Transfer from Stage 3 to Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,235,003) | (3,647,574) | |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (65,951) | (144,306) | |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (591,868) | (1,532,892) | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,235,003 | 3,647,574 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 65,951 | 144,306 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 591,868 | 1,532,892 | |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 902,599 | 1,734,061 | 2,808,187 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 24,605 | 144,590 | 284,957 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 49,396 | 47,985 | 64,645 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (902,599) | (1,734,061) | (2,808,187) |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (24,605) | (144,590) | (284,957) |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (49,396) | (47,985) | (64,645) |
Transfer from Stage 3 to Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (1,210,485) | (2,325,284) | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (47,221) | (208,363) | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (95,422) | (183,777) | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 1,210,485 | 2,325,284 | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 47,221 | 208,363 | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 95,422 | 183,777 | |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 922,503 | 2,783,608 | 1,464,475 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 22,298 | 102,646 | 417,445 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | 12-month ECL | Stage 1 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 332,723 | 65,670 | 1,037,863 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 2 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (922,503) | (2,783,608) | (1,464,475) |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Retail like Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (22,298) | (102,646) | (417,445) |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Wholesale Portfolio | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 0 | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Movements with P&L Impact | Lifetime ECL | Stage 3 | Naranja ECL | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | $ (332,723) | $ (65,670) | $ (1,037,863) |
Capital Management and Risk _19
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, 2023 | Dec. 31, 2022 | |
Retail Portfolio | ||
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 | $ 1,325,949,722 | $ 1,496,126,043 |
Financial assets derecognized during the period other than write-offs | (130,198,066) | (249,797,301) |
New financial assets originated or purchased | 435,035,017 | 598,797,519 |
FX and other movements | 323,267,321 | 205,856,502 |
Inflation Effect | (897,288,722) | (725,033,041) |
Gross carrying amount, Ending Balance | 1,056,765,272 | 1,325,949,722 |
Retail like Portfolio | ||
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 | 961,424,176 | 1,063,778,370 |
Financial assets derecognized during the period other than write-offs | (196,455,347) | (345,006,044) |
New financial assets originated or purchased | 517,585,060 | 739,639,103 |
FX and other movements | 49,316,734 | 20,684,549 |
Inflation Effect | (652,689,243) | (517,671,802) |
Gross carrying amount, Ending Balance | 679,181,380 | 961,424,176 |
Wholesale Portfolio | ||
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 | 2,834,961,466 | 3,122,801,864 |
Financial assets derecognized during the period other than write-offs | (652,362,962) | (2,022,580,703) |
New financial assets originated or purchased | 3,985,880,201 | 2,545,644,783 |
FX and other movements | (108,773,960) | 140,722,994 |
Inflation Effect | (1,924,591,563) | (951,627,472) |
Gross carrying amount, Ending Balance | 4,135,113,182 | 2,834,961,466 |
Naranja ECL | ||
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 | 1,070,224,621 | 1,122,797,013 |
Financial assets derecognized during the period other than write-offs | (16,393,271) | (32,650,780) |
New financial assets originated or purchased | 620,144,128 | 526,470,724 |
FX and other movements | 0 | 0 |
Inflation Effect | (726,551,419) | (546,392,336) |
Gross carrying amount, Ending Balance | 947,424,059 | 1,070,224,621 |
12-month ECL | Stage 1 | Retail Portfolio | ||
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 | 1,074,535,580 | 1,013,263,121 |
Financial assets derecognized during the period other than write-offs | (96,528,639) | (144,781,295) |
New financial assets originated or purchased | 285,815,964 | 474,672,163 |
FX and other movements | 267,143,012 | 188,446,903 |
Inflation Effect | (726,609,317) | (490,055,038) |
Gross carrying amount, Ending Balance | 775,935,358 | 1,074,535,580 |
12-month ECL | Stage 1 | Retail like Portfolio | ||
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 | 898,362,426 | 938,076,314 |
Financial assets derecognized during the period other than write-offs | (186,391,684) | (319,152,595) |
New financial assets originated or purchased | 433,309,384 | 707,188,377 |
FX and other movements | 38,142,622 | 16,587,359 |
Inflation Effect | (609,878,040) | (456,500,779) |
Gross carrying amount, Ending Balance | 555,690,733 | 898,362,426 |
12-month ECL | Stage 1 | Wholesale Portfolio | ||
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 | 2,815,090,330 | 3,013,113,436 |
Financial assets derecognized during the period other than write-offs | (633,784,202) | (1,983,948,745) |
New financial assets originated or purchased | 3,932,818,920 | 2,536,541,266 |
FX and other movements | (137,572,453) | 139,163,791 |
Inflation Effect | (1,911,101,496) | (898,249,242) |
Gross carrying amount, Ending Balance | 4,056,209,449 | 2,815,090,330 |
12-month ECL | Stage 1 | Naranja ECL | ||
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 | 1,003,376,463 | 1,060,467,861 |
Financial assets derecognized during the period other than write-offs | (4,301,072) | (15,197,556) |
New financial assets originated or purchased | 596,459,536 | 492,676,735 |
FX and other movements | 0 | 0 |
Inflation Effect | (681,169,708) | (516,060,790) |
Gross carrying amount, Ending Balance | 905,234,899 | 1,003,376,463 |
Lifetime ECL | Stage 2 | Retail Portfolio | ||
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 | 185,219,368 | 368,457,533 |
Financial assets derecognized during the period other than write-offs | (20,392,574) | (71,799,560) |
New financial assets originated or purchased | 117,018,046 | 95,048,103 |
FX and other movements | 54,004,979 | 18,475,323 |
Inflation Effect | (125,741,262) | (179,304,336) |
Gross carrying amount, Ending Balance | 228,241,598 | 185,219,368 |
Lifetime ECL | Stage 2 | Retail like Portfolio | ||
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 | 49,368,217 | 103,117,294 |
Financial assets derecognized during the period other than write-offs | (6,828,039) | (17,642,221) |
New financial assets originated or purchased | 73,409,888 | 24,765,188 |
FX and other movements | 8,832,400 | 2,948,890 |
Inflation Effect | (33,514,972) | (50,180,486) |
Gross carrying amount, Ending Balance | 107,383,252 | 49,368,217 |
Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
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 | 18,604,165 | 105,259,732 |
Financial assets derecognized during the period other than write-offs | (3,525,214) | (34,668,726) |
New financial assets originated or purchased | 51,700,540 | 8,555,259 |
FX and other movements | 14,522,625 | (7,237) |
Inflation Effect | (12,629,949) | (51,223,070) |
Gross carrying amount, Ending Balance | 77,533,939 | 18,604,165 |
Lifetime ECL | Stage 2 | Naranja ECL | ||
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 | 38,320,153 | 35,451,876 |
Financial assets derecognized during the period other than write-offs | (4,144,663) | (5,626,040) |
New financial assets originated or purchased | 15,350,957 | 22,625,475 |
FX and other movements | 0 | 0 |
Inflation Effect | (26,014,690) | (17,252,123) |
Gross carrying amount, Ending Balance | 23,882,709 | 38,320,153 |
Lifetime ECL | Stage 3 | Retail Portfolio | ||
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 | 66,194,774 | 114,405,389 |
Financial assets derecognized during the period other than write-offs | (13,276,853) | (33,216,446) |
New financial assets originated or purchased | 32,201,007 | 29,077,253 |
FX and other movements | 2,119,330 | (1,065,724) |
Inflation Effect | (44,938,143) | (55,673,667) |
Gross carrying amount, Ending Balance | 52,588,316 | 66,194,774 |
Lifetime ECL | Stage 3 | Retail like Portfolio | ||
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 | 13,693,533 | 22,584,762 |
Financial assets derecognized during the period other than write-offs | (3,235,624) | (8,211,228) |
New financial assets originated or purchased | 10,865,788 | 7,685,538 |
FX and other movements | 2,341,712 | 1,148,300 |
Inflation Effect | (9,296,231) | (10,990,537) |
Gross carrying amount, Ending Balance | 16,107,395 | 13,693,533 |
Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
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 | 1,266,971 | 4,428,696 |
Financial assets derecognized during the period other than write-offs | (15,053,546) | (3,963,232) |
New financial assets originated or purchased | 1,360,741 | 548,258 |
FX and other movements | 14,275,868 | 1,566,440 |
Inflation Effect | (860,118) | (2,155,160) |
Gross carrying amount, Ending Balance | 1,369,794 | 1,266,971 |
Lifetime ECL | Stage 3 | Naranja ECL | ||
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 | 28,528,005 | 26,877,276 |
Financial assets derecognized during the period other than write-offs | (7,947,536) | (11,827,184) |
New financial assets originated or purchased | 8,333,635 | 11,168,514 |
FX and other movements | 0 | 0 |
Inflation Effect | (19,367,021) | (13,079,423) |
Gross carrying amount, Ending Balance | 18,306,451 | 28,528,005 |
Transfer from Stage 1 to Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (37,704,886) | (29,466,360) |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (22,165,829) | (8,356,366) |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (8,874,051) | (2,072,542) |
Transfer from Stage 1 to Stage 2 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (7,125,763) | (15,057,706) |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 37,704,886 | 29,466,360 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 22,165,829 | 8,356,366 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 8,874,051 | 2,072,542 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 7,125,763 | 15,057,706 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 2 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (8,051,270) | (10,210,991) |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (1,297,079) | (955,106) |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (379,878) | (796,279) |
Transfer from Stage 1 to Stage 3 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (7,808,405) | (13,984,940) |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 8,051,270 | 10,210,991 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 1,297,079 | 955,106 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 379,878 | 796,279 |
Transfer from Stage 1 to Stage 3 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 7,808,405 | 13,984,940 |
Transfer from Stage 2 to Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 16,099,911 | 69,019,503 |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 5,542,982 | 21,330,916 |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 12,279 | 11,338,645 |
Transfer from Stage 2 to Stage 1 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 5,211,980 | 8,999,967 |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (16,099,911) | (69,019,503) |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (5,542,982) | (21,330,916) |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (12,279) | (11,338,645) |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (5,211,980) | (8,999,967) |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 1 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (4,682,419) | (8,429,836) |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (554,310) | (874,261) |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | (45,690) |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (1,638,253) | (3,120,551) |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 4,682,419 | 8,429,836 |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 554,310 | 874,261 |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 45,690 |
Transfer from Stage 2 to Stage 3 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 1,638,253 | 3,120,551 |
Transfer from Stage 3 to Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 1,210,485 | 2,325,284 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 47,221 | 208,363 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 95,422 | 183,777 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (1,210,485) | (2,325,284) |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (47,221) | (208,363) |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 2 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (95,422) | (183,777) |
Transfer from Stage 3 to Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 1,235,003 | 3,647,574 |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 65,951 | 144,306 |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | 12-month ECL | Stage 1 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 591,868 | 1,532,892 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 2 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Retail Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (1,235,003) | (3,647,574) |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Retail like Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | (65,951) | (144,306) |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Wholesale Portfolio | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | 0 | 0 |
Transfer from Stage 3 to Stage 1 | Lifetime ECL | Stage 3 | Naranja ECL | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Transfers | $ (591,868) | $ (1,532,892) |
Contingencies and Commitments -
Contingencies and Commitments - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2023 | |
Contingencies and Commitments [line Items] | |||||||||
Recovery of income tax paid | $ 4,039,802 | $ 629,837 | $ 4,403,712 | $ 3,646,382 | $ 866,842 | $ 944,338 | $ 459,319 | $ 433,815 | |
Taretja Cuyana | 2014 and 2016 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | $ 145,478 | ||||||||
Tarjeta Naranja S.A.U. | 2014 and 2016 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | 580,164 | ||||||||
Tarjeta Naranja S.A.U. | 2015 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | 149,763 | ||||||||
Tarjeta Naranja S.A.U. | 2017 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | 326,498 | ||||||||
Tarjeta Naranja S.A.U. | 2018 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | 973,843 | ||||||||
Tarjeta Naranja S.A.U. | Repetition Of Income Tax For 2019 | |||||||||
Contingencies and Commitments [line Items] | |||||||||
Income tax claims nominal value receivable | $ 1,364,949 |
Contingencies and Commitments_2
Contingencies and Commitments - Summary of Provisions for Contingencies (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of other provisions [line items] | ||
Contingency provisions | $ 20,387,943 | $ 31,934,926 |
Other Contingencies | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 16,145,865 | 22,877,301 |
For Commercial Lawsuits/Legal matters | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 10,568,289 | 16,705,092 |
For Labor Lawsuits | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 895,153 | 1,675,878 |
For Claims and Credit Cards | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 200 | 623 |
For Guarantees Granted | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 1,142 | 3,556 |
For Other Contingencies | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 4,681,081 | 4,492,152 |
For Termination Benefits | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | 4,013,811 | 8,648,052 |
Difference for Dollarization of Judicial Deposits—Communication “A” 4686 | ||
Disclosure of other provisions [line items] | ||
Contingency provisions | $ 228,267 | $ 409,573 |
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, 2023 | Dec. 31, 2022 |
Financial Assets | ||
Gross Amount | $ 8,085,119 | $ 3,332,990 |
Offset Amount | 0 | 0 |
Net amounts in Statement Financial Position | 8,085,119 | 3,332,990 |
Subject to netting agreements | (5,781,386) | (3,219,046) |
Total Net Amount | 2,303,733 | 113,944 |
Financial Liabilities | ||
Gross Amount | 6,467,498 | 3,531,185 |
Offset Amount | 0 | 0 |
Net amounts in Statement Financial Position | 6,467,498 | 3,531,185 |
Subject to netting agreements | (5,781,386) | (3,219,046) |
Total Net Amount | 686,112 | 312,139 |
Derivative Liabilities | ||
Financial Liabilities | ||
Gross Amount | 6,467,498 | 3,531,185 |
Offset Amount | 0 | 0 |
Net amounts in Statement Financial Position | 6,467,498 | 3,531,185 |
Subject to netting agreements | (5,781,386) | (3,219,046) |
Total Net Amount | 686,112 | 312,139 |
Derivative Assets | ||
Financial Assets | ||
Gross Amount | 8,085,119 | 3,332,990 |
Offset Amount | 0 | 0 |
Net amounts in Statement Financial Position | 8,085,119 | 3,332,990 |
Subject to netting agreements | (5,781,386) | (3,219,046) |
Total Net Amount | $ 2,303,733 | $ 113,944 |
Off-Balance Sheet Items - Sched
Off-Balance Sheet Items - Schedule of Credit Exposure (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [abstract] | ||
Agreed Credits | $ 245,830,826 | $ 325,154,326 |
Documentary Export and Import Credits | 18,275,456 | 12,228,262 |
Guarantees Granted | 382,550,036 | 227,846,478 |
Liabilities for Foreign Trade Operations | $ 18,315,376 | $ 10,411,211 |
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, 2023 | Dec. 31, 2022 | |
Disclosure of credit risk exposure [abstract] | ||
For Agreed Credits | $ 278,543 | $ 582,980 |
For Documentary Export and Import Credits | 665,035 | 729,099 |
For Guarantees Granted | $ 1,809,421 | $ 343,374 |
Off-Balance Sheet Items - Sch_3
Off-Balance Sheet Items - Schedule of Counter-guarantees, Classified by Type (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [abstract] | ||
Other Preferred Guarantees Received | $ 17,014,335 | $ 2,033,143 |
Other Guarantees Received | $ 11,759,019 | $ 14,501,930 |
Off-Balance Sheet Items - Sch_4
Off-Balance Sheet Items - Schedule of Credit Risk by Probability of Default (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [abstract] | ||
Values to be Debited | $ 78,409,730 | $ 70,431,752 |
Values to be Credited | 74,255,271 | 75,573,905 |
Values for Collection | $ 524,459,464 | $ 720,869,685 |
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, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [abstract] | ||
Trust Funds | $ 18,384,835 | $ 45,302,843 |
Securities Held in Escrow | $ 17,190,472,358 | $ 10,134,326,343 |
Non-controlling Interest - Summ
Non-controlling Interest - Summary of Non-controlling Equity Investment Percentages and Votes (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Galicia Broker Asesores de Seguros S.A. | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA -Argentina | |
Percentage of equity investments | 0.01% | 0.01% |
Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) | ||
Disclosure of noncontrolling interests [line items] | ||
Place of Business | CABA -Argentina | |
Percentage of equity investments | 0.57% | 0% |
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, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Non Controlling Interests Movement [Roll Forward] | |||
Beginning balance | $ 59 | $ 31 | $ 31 |
Purchases / Contributions / Sales | 91,245 | 0 | 0 |
Cash Dividends | (59) | 0 | 0 |
Profit Sharing in income (loss) for the Year | (2,515) | 28 | 0 |
Ending balance | 88,730 | 59 | 31 |
Galicia Broker Asesores de Seguros S.A. | |||
Disclosure Of Non Controlling Interests Movement [Roll Forward] | |||
Beginning balance | 59 | 31 | 31 |
Purchases / Contributions / Sales | 0 | 0 | 0 |
Cash Dividends | (59) | 0 | 0 |
Profit Sharing in income (loss) for the Year | 62 | 28 | 0 |
Ending balance | 62 | 59 | $ 31 |
Sudamericana Seguros Galicia S.A. (formerly Seguros SURA S.A.) | |||
Disclosure Of Non Controlling Interests Movement [Roll Forward] | |||
Beginning balance | 0 | ||
Purchases / Contributions / Sales | 91,245 | ||
Cash Dividends | 0 | ||
Profit Sharing in income (loss) for the Year | (2,577) | ||
Ending balance | $ 88,668 | $ 0 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | ||
Percentage of increase in notes of the group | 20% | |
Key management personnel compensation | $ 15,690,972 | $ 15,841,127 |
Related Party Transactions - Su
Related Party Transactions - Summary of Controlled Entity of Related Party Transactions (Detail) - Related parties - EBA Holding S.A. | 12 Months Ended |
Dec. 31, 2023 | |
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, 2023 | Dec. 31, 2022 | |
Disclosure of transactions between related parties [line items] | ||
Total | 192 | 175 |
Regular Directors | ||
Disclosure of transactions between related parties [line items] | ||
Total | 95 | 79 |
General Manager | ||
Disclosure of transactions between related parties [line items] | ||
Total | 1 | 1 |
Area and department Managers | ||
Disclosure of transactions between related parties [line items] | ||
Total | 96 | 95 |
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, 2023 ARS ($) RelatedParty | Dec. 31, 2022 ARS ($) RelatedParty | |
Disclosure of related party transactions [line items] | ||
Total Amount of Credit Assistance | $ | $ 18,191,375 | $ 17,145,236 |
Number of Addressees (quantities) | RelatedParty | 266 | 279 |
Average Amount of Credit Assistance | $ | $ 68,389 | $ 61,453 |
Maximum Assistance | $ | $ 4,922,808 | $ 2,627,944 |
Natural Persons | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 218 | 219 |
Legal Entities | ||
Disclosure of related party transactions [line items] | ||
Number of Addressees (quantities) | RelatedParty | 48 | 60 |
Related Party Transactions - _3
Related Party Transactions - Summary of Amounts of Related Party Transactions (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Assets | |||
Cash and Due from Banks | $ 1,995,884,822 | $ 1,393,686,854 | |
Debt Securities at fair value through profit or loss | 598,794,865 | 2,467,190,345 | |
Derivative Financial Instruments | 35,290,286 | 10,362,961 | |
Repurchase Transactions | 1,170,165,239 | 359,750,280 | |
Other Financial Assets | 178,103,536 | 174,440,243 | |
Loans and Other Financing | 3,080,706,325 | 3,871,626,785 | |
Other Debt Securities | 1,926,334,348 | 1,141,853,895 | |
Total Assets | 10,216,057,804 | 10,488,176,207 | |
Liabilities | |||
Derivative Financial Instruments | 12,238,747 | 5,275,600 | |
Other Financial Liabilities | 1,273,329,296 | 1,086,252,228 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 138,128,699 | 116,684,862 | |
Debt Securities | 92,715,512 | 209,587,705 | |
Subordinated Debt Securities | 205,612,893 | 141,394,653 | |
Insurance Contracts Liabilities | 105,700,532 | 4,068,201 | |
Other Non-financial Liabilities | 278,169,377 | 279,341,084 | |
Total Liabilities | 8,198,813,805 | 8,592,294,336 | |
Income (Loss) | |||
Net Income from interest | 1,727,685,820 | 474,947,519 | $ 662,878,484 |
Net fee Income | 471,430,835 | 422,076,432 | 412,499,370 |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | 273,897,741 | 1,052,905,089 | 579,970,081 |
Other Operating Income (Expense) | 381,761,004 | 229,783,588 | 155,435,612 |
Insurance Business Result | 36,343,038 | 40,075,037 | 44,584,836 |
Other Operating Expenses | (565,566,379) | (396,299,340) | (335,783,492) |
Operating Income | 540,080,120 | 205,473,024 | 288,927,137 |
Related parties | |||
Assets | |||
Cash and Due from Banks | 32,925,610 | 15,722,561 | |
Debt Securities at fair value through profit or loss | 14,192,140 | 12,636,623 | |
Derivative Financial Instruments | 6,460,870 | 3,865,120 | |
Repurchase Transactions | 21,381,414 | 33,994,862 | |
Other Financial Assets | 9,872,423 | 161,060 | |
Loans and Other Financing | 65,878,587 | 110,405,186 | |
Other Debt Securities | 0 | 1,129,230 | |
Total Assets | 150,711,044 | 177,914,642 | |
Liabilities | |||
Deposits | 42,792,375 | 22,897,792 | |
Derivative Financial Instruments | 6,460,870 | 3,865,121 | |
Repurchase Transactions | 21,381,414 | 33,994,862 | |
Other Financial Liabilities | 7,598,375 | 233,462 | |
Financing Received from the Argentine Central Bank and Other Financial Institutions | 57,578,136 | 102,977,285 | |
Debt Securities | 12,017,844 | 13,765,853 | |
Subordinated Debt Securities | 2,174,296 | 0 | |
Insurance Contracts Liabilities | 4,122 | 13,490 | |
Other Non-financial Liabilities | 703,620 | 166,777 | |
Total Liabilities | 150,711,052 | 177,914,642 | |
Income (Loss) | |||
Net Income from interest | 2,726,778 | 6,536,244 | (3,431,444) |
Net fee Income | 10,071,566 | 9,262,528 | 10,751,388 |
Net Income from Financial Instruments Measured at Fair Value through Profit or Loss | (4,902,244) | (7,032,117) | 2,055,661 |
Other Operating Income (Expense) | 7,497,114 | 8,029,042 | 9,613,987 |
Income from Insurance Business | 0 | 0 | 18,802,510 |
Insurance Business Result | (15,098,338) | (15,435,857) | 0 |
Administrative Expenses | (825,369) | (1,649,430) | (852,450) |
Other Operating Expenses | (1,682) | (50,735) | (44,427) |
Operating Income | $ (532,175) | $ (340,325) | $ (709,795) |
Additional Information Requir_3
Additional Information Required by the Argentine Central Bank - Additional Information (Detail) - ARS ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 01, 2023 | May 01, 2020 | Dec. 31, 2023 | |
Disclosure of additional information [line items] | |||
Percentage of monthly contribution to deposit insurance fund | 0.015% | ||
Garantizar SGRs risk fund | |||
Disclosure of additional information [line items] | |||
Number of years contribution made to the fund | 2 years | ||
Electrigal SA | |||
Disclosure of additional information [line items] | |||
Equity investments, shares | 1,222,406 | ||
Net insurance contracts | |||
Disclosure of additional information [line items] | |||
Insurance system to demand deposits and time deposits limits | $ 6,000 | $ 1,500 |
Additional Information Requir_4
Additional Information Required by the Argentine Central Bank - Cash and Government Securities (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of restricted assets [line items] | ||
Notional amount | $ 138,128,699 | $ 116,684,862 |
Repurchase Transaction | Government Securities | Currency Forward Purchases | ||
Disclosure of restricted assets [line items] | ||
Notional amount | 23,566,922 | 0 |
Banco de Galicia y Buenos Aires S.A.U. | ||
Disclosure of restricted assets [line items] | ||
For transactions in ROFEX, MAE and BYMA | 72,206,286 | 162,070,719 |
For appraisals from repo transactions | 2,618,547 | 0 |
For debit / credit cards transactions | 21,871,570 | 24,081,024 |
For attachments | 10,355 | 31,169 |
Liquid offsetting entry required to operate as CNV agent | 756,300 | 504,752 |
For contribution to M.A.E.’ s Joint Guarantee Fund (Fondo de Garantía Mancomunada) | 0 | 3,426 |
Guarantees for the Regional Economies Competitiveness Program | 135,667 | 270,307 |
For other transactions (includes guarantees linked to rental contracts) | 185,137 | 126,137 |
Banco de Galicia y Buenos Aires S.A.U. | Repurchase Transaction | Government Securities | Currency Forward Purchases | ||
Disclosure of restricted assets [line items] | ||
Notional amount | 23,566,923 | 0 |
For surety guarantees | $ 169,857,361 | $ 0 |
Additional Information Requir_5
Additional Information Required by the Argentine Central Bank - Special Guarantees Accounts (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Argentine Central Bank | ||
Disclosure of restricted assets [line items] | ||
Escrow Accounts | $ 95,090,124 | $ 124,639,467 |
Naranja Digital Compañía Financiera S.A.U. | ||
Disclosure of restricted assets [line items] | ||
Escrow Accounts | $ 4,872,128 | $ 1,737,500 |
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, 2023 | Dec. 31, 2022 |
Argentine Central Bank | ||
Disclosure of restricted assets [line items] | ||
Unavailable deposits due to exchange transactions | $ 0 | $ 1,660 |
Additional Information Requir_7
Additional Information Required by the Argentine Central Bank - Contributions to Garantizar S.G.R.'s Risk Fund (Detail) - Garantizar SGRs risk fund - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Fondo de Riesgo Garantizar SGR | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | $ 3,283,027 | $ 3,501,731 |
Don Mario SGR | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | 800,000 | 1,557,050 |
Movil SGR | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | 1,100,000 | 311,410 |
Potenciar S.G.R. | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | 1,198,353 | 0 |
Bind Garantías S.G.R. | ||
Disclosure of restricted assets [line items] | ||
Contributions to the Fund | $ 50,000 | $ 0 |
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, 2023 | Dec. 31, 2022 |
Disclosure of restricted assets [line items] | ||
Total Restricted Assets | $ 410,869,202 | $ 322,039,218 |
INVIU S.A.U. | ||
Disclosure of restricted assets [line items] | ||
Liquid offsetting entry required to operate as CNV agents | 306,071 | 187,363 |
Guarantees linked to surety bonds | 694,447 | 197,225 |
Surety | 6,799 | 0 |
Tarjeta Naranja S.A.U. | ||
Disclosure of restricted assets [line items] | ||
Attachments arising from judicial cases | 618 | 540,682 |
Guarantees linked to rental contracts | 7,940 | 26,535 |
Galicia Asset Management S.A.U. | ||
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 | 261,821 | 306,589 |
Galicia Securities S.A.U. | ||
Disclosure of restricted assets [line items] | ||
Liquid offsetting entry required to operate as CNV agents | 149,144 | 186,107 |
Guarantees linked to surety bonds | 11,642,308 | 1,112,291 |
For transactions in the market | $ 198,276 | $ 646,074 |
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, 2023 shares |
Fima Premium Class B Mutual Fund | |
Disclosure of restricted assets [line items] | |
Number Of Shares Held | 6,000,000 |
Additional Information Requi_10
Additional Information Required by the Argentine Central Bank - Summary of Fiduciary Property Breakdown (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 ARS ($) | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 18,210,260 |
Exxon Mobil | |
Disclosure of trust activities [line items] | |
Date of Contract | Nov. 23, 2011 |
Trustor | Exxon Mobil |
Maturity | Apr. 19, 2025 |
Coop. de Trab. Portuarios | |
Disclosure of trust activities [line items] | |
Date of Contract | Sep. 12, 2014 |
Trustor | Coop. de Trab. Portuarios |
Maturity | Sep. 12, 2024 |
Fondo Anticiclico Agroalim | |
Disclosure of trust activities [line items] | |
Date of Contract | Apr. 26, 2022 |
Trustor | Fondo Anticiclico Agroalim |
Maturity | Jun. 30, 2024 |
Fondo Fiduciario Aceitero | |
Disclosure of trust activities [line items] | |
Date of Contract | Mar. 08, 2023 |
Trustor | Fondo Fiduciario Aceitero |
Maturity | Jun. 30, 2024 |
Trust [member] | Banco de Galicia y Buenos Aires S.A.U. | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 174,575 |
Trust [member] | Banco de Galicia y Buenos Aires S.A.U. | Exxon Mobil | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 94,881 |
Trust [member] | Banco de Galicia y Buenos Aires S.A.U. | Coop. de Trab. Portuarios | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 7,095 |
Trust [member] | Banco de Galicia y Buenos Aires S.A.U. | Fondo Anticiclico Agroalim | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | 64,725 |
Trust [member] | Banco de Galicia y Buenos Aires S.A.U. | Fondo Fiduciario Aceitero | |
Disclosure of trust activities [line items] | |
Balances of Trust Funds | $ 7,874 |
Additional Information Requi_11
Additional Information Required by the Argentine Central Bank - Summary of Financial Trust Contracts (Detail) - ARS ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | $ 18,210,260 | |
GAS I | ||
Disclosure of trust activities [line items] | ||
Date of Contract | Dec. 06, 2006 | |
Trust | GAS I | |
Maturity Date | Dec. 31, 2024 | |
GAS II | ||
Disclosure of trust activities [line items] | ||
Date of Contract | May 14, 2009 | |
Trust | GAS II | |
Maturity Date | Dec. 31, 2024 | |
MILA III | ||
Disclosure of trust activities [line items] | ||
Date of Contract | Jun. 08, 2011 | |
Trust | MILA III | |
Maturity Date | Dec. 31, 2024 | |
MILA IV | ||
Disclosure of trust activities [line items] | ||
Date of Contract | Sep. 01, 2011 | |
Trust | MILA IV | |
Maturity Date | Dec. 31, 2024 | |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco de Galicia y Buenos Aires S.A.U. | GAS I | ||
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | $ 630,982 | |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco de Galicia y Buenos Aires S.A.U. | GAS II | ||
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | 17,486,720 | |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco de Galicia y Buenos Aires S.A.U. | MILA III | ||
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | 83,143 | |
Financial trust contract [member] | Financial guarantee contracts [member] | Banco de Galicia y Buenos Aires S.A.U. | MILA IV | ||
Disclosure of trust activities [line items] | ||
Balances of Trust Funds | $ 9,415 |
Additional Information Requi_12
Additional Information Required by the Argentine Central Bank - Additional Information 2 (Detail) - ARS ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of additional information [line items] | |||
Instruments held in custody | $ 10,134,326,343 | $ 17,190,472,358 | $ 10,134,326,343 |
Percentage of regulatory capital | 2.50% | ||
Percentage of individual computable regulatory capital | 1% | ||
Escrow Agent | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | $ 440,230 | ||
Minimum required shareholders offsetting entry | 220,115 | ||
Alync And AN Integral | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | 217,960 | ||
Minimum required shareholders offsetting entry | 108,980 | ||
Treasury bills, fair value | 756,300 | ||
Galicia administradora de fondos S.A. | |||
Disclosure of additional information [line items] | |||
Minimum required shareholders offsetting entry | 261,821 | ||
Minimum equity requirement act as agent | 523,642 | ||
Galicia administradora de fondos S.A. | Fima Premium Class C Shares | |||
Disclosure of additional information [line items] | |||
Minimum required shareholders offsetting entry | $ 295,718 | ||
Minimum offsetting entry shares | 6,000,000 | ||
Galicia Securities S.A.U. | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | $ 11,322,823 | ||
Minimum required shareholders offsetting entry | 108,980 | ||
Minimum equity requirement act as agent | $ 75,766 | ||
Required shareholders equity shares | 470,350,000 | ||
Minimum required equity act as agent off setting entry | $ 37,883 | ||
Required government securities amount | 149,144 | ||
INVIU S.A.U. | |||
Disclosure of additional information [line items] | |||
Required shareholders equity amount | 7,749,903 | ||
Minimum required shareholders offsetting entry | 108,980 | ||
Minimum equity requirement act as agent | $ 75,766 | ||
Required shareholders equity shares | 470,350,000 | ||
Minimum required equity act as agent off setting entry | $ 37,883 | ||
Offsetting entry | 306,071 | ||
Banco de Galicia y Buenos Aires S.A.U. | |||
Disclosure of additional information [line items] | |||
Instruments held in custody | 2,412,629,138 | $ 3,483,939,552 | $ 2,412,629,138 |
Securities held in custody in units | 83,582,052,338 | 42,336,393,400 | |
Banco Galicia | |||
Disclosure of additional information [line items] | |||
Legal reserve | 20% | ||
Percentage of profit shown in income statement | 20% | ||
Grupo Financiero Galicia S.A. | |||
Disclosure of additional information [line items] | |||
Percentage of net income transferred | 5% | ||
Legal reserve | 20% | ||
Argentine Central Bank | |||
Disclosure of additional information [line items] | |||
Minimum capital requirement | 3.50% | ||
Percentage of accumulated income | 20% | ||
Profit loss recorded in equity | $ 336,243,903 | ||
Percentage of constitution to Legal Reserve | 5% | ||
Payment of a cash dividend | $ 65,000,000 | ||
Tarjeta Naranja S.A.U. | |||
Disclosure of additional information [line items] | |||
Dividend rate | 25% | ||
Minimum capital requirement | $ 51,737,890 | $ 300,000 |
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, 2023 | Dec. 31, 2022 |
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | $ 17,190,472,358 | $ 10,134,326,343 |
Mutual Funds | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 3,483,939,552 | 2,412,629,138 |
FIMA Acciones | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 28,374,278 | 11,874,867 |
FIMA P.B. Acciones | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 16,307,585 | 8,042,022 |
FIMA Renta en pesos | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 81,129,578 | 59,391,192 |
FIMA Ahorro pesos | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 59,508,744 | 88,391,734 |
FIMA Renta Plus | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 55,316,473 | 25,860,812 |
FIMA Premium | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 2,880,465,837 | 1,940,896,094 |
FIMA Ahorro Plus | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 99,933,201 | 161,119,964 |
FIMA Capital Plus | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 224,333,912 | 100,252,263 |
FIMA Abierto PyMES | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 6,797,941 | 4,477,666 |
FIMA Mix I | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 18,612,135 | 8,427,015 |
FIMA Mix II | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 4,212,316 | 0 |
FIMA Renta Fija Internacional | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 4,756,860 | 3,551,354 |
FIMA Sustentable ASG | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | 3,660,258 | 0 |
FIMA Acciones Latinoamericanas Dolares | ||
Disclosure of mutual funds portfolio [line items] | ||
Instruments held in custody | $ 530,434 | $ 344,155 |
Additional Information Requi_14
Additional Information Required by the Argentine Central Bank - Summary of Compliance with Minimum Cash Requirements (Detail) - Dec. 31, 2023 € in Thousands, $ in Thousands, $ in Thousands | ARS ($) | USD ($) | EUR (€) |
Argentina, Pesos | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | $ 438,301,864 | ||
US Dollar | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | $ 774,759 | ||
Euro | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | € | € 28 | ||
Checking Accounts held in Argentine Central Bank | Argentina, Pesos | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | 28,983,870 | ||
Checking Accounts held in Argentine Central Bank | US Dollar | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | 770,556 | ||
Checking Accounts held in Argentine Central Bank | Euro | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | € | € 28 | ||
Escrow Accounts held in Argentine Central Bank | Argentina, Pesos | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | 43,849,639 | ||
Escrow Accounts held in Argentine Central Bank | US Dollar | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | $ 4,203 | ||
National Treasury Bonds in Argentine Pesos computable for minimum cash | Argentina, Pesos | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | 116,211,931 | ||
Government Securities | Argentina, Pesos | |||
Disclosure of accounts showing compliance with minimum cash requirements [line items] | |||
Total for integration Minimum Cash | $ 249,256,424 |
Additional Information Requi_15
Additional Information Required by the Argentine Central Bank - Schedule of Shareholders' Equity (Detail) - ARS ($) $ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Share Capital | $ 1,474,692 | $ 1,474,692 |
Additional paid in Capital | 716,519,943 | $ 716,519,943 |
Argentine Central Bank | ||
Share Capital | 1,474,692 | |
Additional paid in Capital | 17,281,187 | |
Adjustments to shareholders´ equity | 716,519,943 | |
Legal reserve | 24,189,511 | |
Distributable reserves | 919,958,408 | |
Non distributable reserves | 2,205,317 | |
Profit for the year | 336,243,903 | |
Total Shareholder’s equity under the rules of the Argentine Central Bank | $ 2,017,872,961 |
Additional Information Requi_16
Additional Information Required by the Argentine Central Bank - Women and Disability in Group (Details) | Dec. 31, 2023 people |
Disclosure of additional information [line items] | |
Total | 9,456 |
Women | 4,804 |
% of women | 51% |
Regular and Alternate Directors | |
Disclosure of additional information [line items] | |
Total | 15 |
Women | 2 |
% of women | 13% |
Regular and Alternate Trustees | |
Disclosure of additional information [line items] | |
Total | 6 |
Women | 1 |
% of women | 17% |
General, area and department Managers | |
Disclosure of additional information [line items] | |
Total | 97 |
Women | 21 |
% of women | 22% |
Rest of collaborators | |
Disclosure of additional information [line items] | |
Total | 9,338 |
Women | 4,780 |
% of women | 51% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Apr. 25, 2024 ARS ($) | Apr. 23, 2024 ARS ($) | Apr. 19, 2024 ARS ($) | Apr. 16, 2024 ARS ($) | Mar. 26, 2024 ARS ($) | Mar. 25, 2024 ARS ($) | Mar. 13, 2024 ARS ($) | Mar. 12, 2024 ARS ($) | Mar. 06, 2024 ARS ($) | Feb. 29, 2024 ARS ($) | Feb. 28, 2024 ARS ($) | Feb. 21, 2024 ARS ($) | Jan. 18, 2024 ARS ($) | Jan. 05, 2024 ARS ($) | Jan. 03, 2024 ARS ($) | Apr. 09, 2024 ARS ($) | Apr. 09, 2024 USD ($) | Jan. 11, 2024 ARS ($) | Dec. 31, 2023 ARS ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 ARS ($) |
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Financing Received from the Argentine Central Bank and Other Financial Institutions | $ 138,128,699,000 | $ 116,684,862,000 | |||||||||||||||||||
Notional amount | $ 138,128,699,000 | $ 116,684,862,000 | |||||||||||||||||||
Banco de Galicia y Buenos Aires S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Face Value | $ 250,000,000 | ||||||||||||||||||||
Major Dividends | Galicia Asset Management | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Dividends paid | $ 19,370,000,000 | ||||||||||||||||||||
Major Dividends | Galicia Warrants S.A. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Dividends paid | $ 350,000,000 | ||||||||||||||||||||
Major Dividends | Galicia Securities S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Dividends paid | $ 10,000,000 | ||||||||||||||||||||
Major Dividends | Galicia Seguros S A U | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Dividends paid | $ 6,200,000,000 | ||||||||||||||||||||
Major Dividends | Sudamericana Holding S.A. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Dividends paid | 6,200,000,000 | ||||||||||||||||||||
Irrevocable Contributions | Galicia Holding US Inc | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 100,000 | ||||||||||||||||||||
Irrevocable Contributions | Galicia Ventures LP | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 331,531,000 | $ 285,272,000 | |||||||||||||||||||
Irrevocable Contributions | Galicia Investments LLC | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 3,349,000 | 2,882,000 | |||||||||||||||||||
Irrevocable Contributions | Galicia Holdings US Inc. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 1,211,000 | ||||||||||||||||||||
Irrevocable Contributions | Naranja Digital Compañía Financiera S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 400,000,000 | ||||||||||||||||||||
Irrevocable Contributions | Agri Tech Investments LLC | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 20,039,000 | $ 500,000,000 | |||||||||||||||||||
Irrevocable Contributions | IGAM LLC | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Contributions made to unconsolidated subsidiaries by its controlling subsidiaries of investment entity | $ 4,272,500,000 | ||||||||||||||||||||
Debt Securities Issuance | Tarjeta Naranja S.A.U. | Class LVII Debt Security | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Face Value | $ 35,000,000,000 | ||||||||||||||||||||
Borrowings, adjustment to interest rate basis | 3.50% | ||||||||||||||||||||
Debt Securities Issuance | Banco de Galicia y Buenos Aires S.A.U. | Class XIII Debt Security | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Face Value | $ 24,727,778,000 | ||||||||||||||||||||
Borrowings, adjustment to interest rate basis | 2% | ||||||||||||||||||||
Shareholders Meeting | Agri Tech Investments Argentina S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Adjustments to irrevocable contributions | $ 901,177,000 | ||||||||||||||||||||
Use of irrevocable contributions | $ 283,711,000 | ||||||||||||||||||||
Shareholders Meeting | Naranja Digital Compañía Financiera S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Adjustments to irrevocable contributions | 8,387,942,000 | ||||||||||||||||||||
Use of irrevocable contributions | $ 2,578,671,000 | ||||||||||||||||||||
Shareholders Meeting | Tarjeta Naranja S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Approved capital increase | $ 720,000 | ||||||||||||||||||||
Shareholders Meeting | Banco de Galicia y Buenos Aires S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Legal reserve | 77,244,791,000 | ||||||||||||||||||||
Optional reserve for future profit distributions | 308,979,164,000 | ||||||||||||||||||||
Distribution of cash dividends | $ 255,000,000,000 | ||||||||||||||||||||
Shareholders Meeting | Tarjetas Regionales S.A. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Legal reserve | $ 1,134,672,000 | ||||||||||||||||||||
Optional reserve for future profit distributions | 21,558,775,000 | ||||||||||||||||||||
Distribution of cash dividends | $ 30,000,000,000 | ||||||||||||||||||||
Shareholders Meeting | INVIU S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Legal reserve | 42,349,000 | ||||||||||||||||||||
Optional reserve for future profit distributions | $ 804,635,000 | ||||||||||||||||||||
Major business combination | Private and Subordinated Negotiable Obligations | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Financing Received from the Argentine Central Bank and Other Financial Institutions | $ 75,000,000 | ||||||||||||||||||||
Notional amount | $ 100,000,000 | ||||||||||||||||||||
Major business combination | ADRs - American Depositary Receipts | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Equity interests of acquirer | $ 200,022,500 | ||||||||||||||||||||
Major business combination | Direct Holdings | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Acquisition, ownership percentage | 42.11% | 42.11% | |||||||||||||||||||
Major business combination | HSBC Bank Argentina S.A. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Capital and voting rights | 99.99383% | 99.99383% | |||||||||||||||||||
Major business combination | HSBC Argentina Holdings S.A., HSBC Participaciones (Argentina) S.A., HSBC Global Asset Management S.A., HSBC Seguros de Vida (Argentina) S.A., and HSBC Seguros de Retiro (Argentina) S.A. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Capital and voting rights | 100% | 100% | |||||||||||||||||||
Major business combination | Banco de Galicia y Buenos Aires S.A.U. | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Consideration transferred, acquisition date fair value | $ 274,977,500 | ||||||||||||||||||||
Major business combination | Banco de Galicia y Buenos Aires S.A.U. | Direct Holdings | |||||||||||||||||||||
Disclosure of Events After Reporting Period [line items] | |||||||||||||||||||||
Acquisition, ownership percentage | 57.89% | 57.89% |