Grupo Financiero Galicia Reports FY2024 Net Income of ARS 1,618 Billion with ROE Rising to 34%

Grupo Financiero Galicia, Argentina's largest privately held financial group, reported full-year 2024 net income of ARS 1,618,494 million. The results were released on 28 February 2025.

Return on equity reached 34%, an improvement of 1,659 basis points year on year, while return on assets climbed to 7%, up 359 basis points over the same period.

ONE-OFF GAIN AND NET INTEREST INCOME

The result included a Ps.724,525 million gain on the acquisition of HSBC's Argentine businesses, completed in December 2024 (Ps.485,060 million net of related adjustments and provisions). Net interest income rose 26% in real terms, as Banco Galicia — the group's core banking subsidiary — expanded its loan book, although the financial margin fell as inflation and nominal yields declined.

The group also includes fintech and payments platform Naranja X and insurer Galicia Seguros.