June 23, 2017 1:03 AM ET

Banks

Company Overview of Banco de Galicia y Buenos Aires S.A.

Company Overview

Banco de Galicia y Buenos Aires S.A. provides various financial services to individuals and companies in Argentina. It offers various accounts; personal and mortgage loans; debit and credit cards, and security boxes; and asset management and investment services, as well as telephone, online, and SMS banking services. The company also provides car, home, life, health, personal accident, combined family, robbery and extended warranty, trade, property, retirement, and other insurance services. It operates through a network of 423 bank branches and electronic banking centers. The company was founded in 1905 and is based in Buenos Aires, Argentina. Banco de Galicia y Buenos Aires S.A. is a subsid...

Tte. JD Perón 407

Buenos Aires,  C1038AAI

Argentina

Founded in 1905

11,538 Employees

Phone:

54 11 6329 0000

Fax:

54 11 6329 6100

Key Executives for Banco de Galicia y Buenos Aires S.A.

Chief Executive Officer
Accounting Manager
Age: 45
Executive Officer
Retail Banking Executive
Compensation as of Fiscal Year 2016.

Banco de Galicia y Buenos Aires S.A. Key Developments

Banco de Galicia y Buenos Aires S.A. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2017

Banco de Galicia y Buenos Aires S.A. announced consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company's net income amounted to ARS 1,480 million, ARS 334 million (29.1%)higher than in the same quarter of the 2016 fiscal year. Operating income was ARS 2,319 million compared to ARS 1,712 million a year ago. Return on average assets was 2.76% compared to 2.97% a year ago. Return on average shareholders’ equity was 29.89% compared to 31.84% a year ago.

Banco de Galicia y Buenos Aires S.A Receives Class Action Lawsuit Notice

Banco de Galicia y Buenos Aires S.A. received a notification regarding a class action lawsuit entitled “Cosumidores Financieros Asociación Civil para su defensa c/Mercado de Valores del Litoral S.A. y otros s/demanda ordinaria” filed by a local association for consumer defense. The lawsuit seeks the restitution of amounts that were collected in relation to certain operations carried out by Bolsafé Valores S.A. The lawsuit was filed in the Civil and Commercial Court number 6 of the Santa Fe district.

Banco de Galicia y Buenos Aires S.A. Approves Issuance of Class IV Notes for Amount of up to USD 100,000,000 Under the Framework of the Global Program

Grupo Financiero Galicia S.A. announced that on the date hereof the board of directors of its main subsidiary, Banco de Galicia y Buenos Aires S.A. (‘The Bank’) has approved the issuance of the class IV notes for an amount of up to USD 100,000,000 under the framework of the Global Program for the issuance of short-, medium- and/or long term notes for a maximum outstanding face value of up to USD 1,100,000,000, which may be increased up to a maximum amount not issued under the Global Program of USD 399,463,000 (or the equivalent thereof in other currencies). The net amount from the placement of the Class IV Notes will be used for working capital purposes in Argentina and/or the refinancing of liabilities, loans and/or other financing, or as determined in the Price Supplement.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 19, 2017
Galicia Valores S.A.
Merger/Acquisition
April 17, 2017
Aguas Cordobesas S.A.
Merger/Acquisition
March 30, 2017
Tarjetas del Mar S.A.
 

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