v3.25.1
Equity Investments in Subsidiaries, Associates and Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2024
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
Shareholding		Equity Investment
%
Company12.31.2412.31.2312.31.2412.31.23
Agri Tech Investments Argentina S.A.U.199,937 199,937 100.00 %100.00 %
Agri Tech Investments LLC100 100 100.00 %100.00 %
Banco de Galicia y Buenos Aires S.A.U.668,549,353 668,549,353 100.00 %100.00 %
Banco GGAL S.A.1,244,048,856 — 99.99 %— %
Galicia Asset Management S.A.U.20,000 20,000 100.00 %100.00 %
Galicia Broker Asesores de Seguros S.A.71,310 71,310 99.99 %99.99 %
Galicia Capital US LLC1,000 1,000 100.00 %100.00 %
Galicia Holdings US Inc.1,000 1,000 100.00 %100.00 %
Galicia Investments LLC100 100 100.00 %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.1,830,887 1,830,887 100.00 %100.00 %
Galicia Ventures LP1,000 1,000 100.00 %100.00 %
Galicia Warrants S.A.1,000,000 1,000,000 100.00 %100.00 %
GGAL Asset Management S.A. S.G.F.C.I.1,791,487 — 100.00 %— %
GGAL Holdings S.A.748,712,987,065 — 100.00 %— %
GGAL Participaciones S.A.U.11,513,929 — 100.00 %— %
GGAL Seguros S.A.(*)
37,855,000 — 100.00 %— %
GGAL Seguros de Retiro S.A.(*)
49,803,430 — 100.00 %— %
IGAM LLC100 100 100.00 %100.00 %
INVIU S.A.U.809,611,333 809,611,333 100.00 %100.00 %
INVIU Capital Markets Limited1 1 100.00 %100.00 %
INVIU Manager Investment Ltd.1 — 100.00 %— %
INVIU México S.A.P.I. de C.V.1,500 — 100.00 %— %
INVIU Perú S.A.B. S.A.C.2,439,992 — 100.00 %— %
INVIU Technology Limited1 1 100.00 %100.00 %
INVIU Uruguay Agente de Valores S.A.300,000,000 300,000,000 100.00 %100.00 %
Naranja Digital Compañía Financiera S.A.U.1,712,567,500 1,712,567,500 100.00 %100.00 %
Nera Paraguay S.A.1,000 — 100.00 %— %
Nera Uruguay S.A.30,133 10,000 100.00 %100.00 %
NHI(UK) Limited19,000,000 — 100.00 %— %
N-xers S.A. de C.V.405,816,000 — 100.00 %— %
Sudamericana Holding S.A.32,717,429 32,717,429 100.00 %100.00 %
Sudamericana Seguros Galicia S.A.(*)
4,512,697,946 4,512,697,946 99.43 %99.43 %
Tarjeta Naranja S.A.U.2,896 2,896 100.00 %100.00 %
Tarjetas Regionales S.A.1,756,704,458 1,756,704,458 100.00 %100.00 %
Vestly Asset Management LLC100 — 100.00 %— %
Vestly México S.A. de C.V.1,500 — 100.00 %— %
Well Assistance S.A.U.100,000 100,000 100.00 %100.00 %
(*) 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:
12.31.24
CompanyAssetsLiabilitiesShareholders’
Equity
Net Income
 (Loss) (*)
Agri Tech Investments Argentina S.A.U.3,381,044 1,890,258 1,490,786 (3,725,267)
Agri Tech Investments LLC1,654,863 153,508 1,501,355 (2,391,008)
Banco de Galicia y Buenos Aires S.A.U.23,505,953,188 18,732,152,087 4,773,801,101 1,472,223,337 
Banco GGAL S.A. (**)
6,131,357,353 4,523,001,988 1,608,355,365 (177,773,065)
Galicia Asset Management S.A.U.92,776,086 34,622,532 58,153,554 74,097,938 
Galicia Broker Asesores de Seguros S.A.
3,097,452 1,039,828 2,057,624 2,709,592 
Galicia Capital US LLC4,044,746 1,628,435 2,416,311 (1,363,857)
Galicia Holdings US Inc.5,601,702 — 5,601,702 (2,070,785)
Galicia Investments LLC26,466 — 26,466 (12,875)
Galicia Retiro Compañía de Seguros S.A.U. (***)
6,647,909 6,177,906 470,003 (1,387,891)
Galicia Securities S.A.U.178,224,997 137,552,002 40,672,995 26,339,474 
Galicia Seguros S.A.U. (***)
53,612,927 27,068,545 26,544,382 3,308,011 
Galicia Ventures LP2,646,633 — 2,646,633 (1,127,333)
Galicia Warrants S.A.13,455,580 4,229,671 9,225,909 1,124,242 
GGAL Asset Management S.A. S.G.F.C.I. (**)
24,585,321 5,209,384 19,375,937 689,708 
GGAL Holdings S.A. (**)
1,771,916,609 4,290,320 1,767,626,289 (185,723,592)
GGAL Participaciones S.A.U. (**)
7,952,338 1,948,462 6,003,876 (2,896,417)
GGAL Seguros S.A. (**)
258,770 201,772 56,998 7,503 
GGAL Seguros de Retiro S.A. (**)
383,457 345,924 37,533 3,003 
IGAM LLC22,359,939 3,177 22,356,762 (12,658,998)
INVIU S.A.U.136,948,914 126,923,384 10,025,530 (8,297,105)
INVIU Capital Markets Limited2,446,707 280,652 2,166,055 122,012 
INVIU Manager Investment Ltd.132,487 25,221 107,266 (4,204)
INVIU México S.A.P.I. de C.V.86 — 86 74 
INVIU Perú S.A.B. S.A.C.740,515 193,454 547,061 (144,147)
INVIU Technology Limited277,617 167,942 109,675 103,974 
INVIU Uruguay Agente de Valores S.A.3,340,409 1,682,440 1,657,969 3,207 
Naranja Digital Compañía Financiera S.A.U.1,753,107,299 1,661,763,417 91,343,882 55,215,460 
Nera Paraguay S.A.153,508 — 153,508 (29,579)
Nera Uruguay S.A.2,265 23,354 (21,089)(20,563)
NHI(UK) Limited22,428,400 — 22,428,400 64,707 
N-xers S.A. de C.V.22,428,936 — 22,428,936 44,120 
Sudamericana Holding S.A. (***)
45,238,985 1,194,950 44,044,035 (18,035,597)
Sudamericana Seguros Galicia S.A. (***)
276,974,673 264,190,792 12,783,881 (24,246,120)
Tarjeta Naranja S.A.U.3,752,961,601 3,029,305,652 723,655,949 201,411,703 
Tarjetas Regionales S.A.875,936,093 20,639,616 855,296,477 253,404,499 
Vestly Asset Management LLC112 — 112 17 
Vestly México S.A. de C.V.81 — 81 71 
Well Assistance S.A.U. (***)
78,732 23,696 55,036 49,532 
____________________
(*)    Income attributable to the shareholders of the parent.
(**)Results corresponding to the month of December 2024.
(***) Results for the 12-month period ended December 31, 2024.

12.31.23
CompanyAssetsLiabilitiesShareholders’
Equity
Net Income
 (Loss) (*)
Agri Tech Investments Argentina S.A.U.6,590,784 2,138,789 4,451,995 (1,847,597)
Agri Tech Investments LLC3,081,466 — 3,081,466 (3,242,603)
Banco de Galicia y Buenos Aires S.A.U.20,481,294,158 16,576,835,097 3,904,459,061 665,849,984 
Cobranzas Regionales S.A.
— — — (8,782,255)
Galicia Asset Management S.A.U.68,033,711 22,552,671 45,481,040 58,400,010 
Galicia Broker Asesores de Seguros S.A. (**)
3,884,222 1,269,666 2,614,556 3,468,608 
Galicia Capital US LLC95,572 — 95,572 (37,019)
Galicia Holdings US Inc.95,591 95,572 19 9 
Galicia Investments LLC18,895 — 18,895 (17,025)
Galicia Retiro Compañía de Seguros S.A.U. (**)
9,175,317 7,317,421 1,857,896 257,187 
Galicia Securities S.A.U.136,988,036 110,218,158 26,769,878 30,219,428 
Galicia Seguros S.A.U. (**)
54,157,561 20,779,602 33,377,959 16,672,843 
Galicia Ventures LP1,889,567 — 1,889,567 520,398 
Galicia Warrants S.A.13,192,880 4,485,373 8,707,507 396,039 
IGAM LLC28,358,974 5,320 28,353,654 3,525,175 
INVIU S.A.U.118,046,933 99,724,299 18,322,634 1,320,703 
INVIU Capital Markets Limited43,043 40 43,003 22,231 
INVIU Technology Limited6,596 — 6,596 (5,816)
INVIU Uruguay Agente de Valores S.A.4,396,549 2,741,788 1,654,761 (881,065)
Naranja Digital Compañía Financiera S.A.U.581,135,881 545,699,851 35,436,030 (15,981,726)
Nera Uruguay S.A.(****)
— 1,251 (1,251)610 
Sudamericana Holding S.A. (**)
76,849,308 5,886,538 70,962,770 27,569,329 
Sudamericana Seguros Galicia S.A.(*****)
376,447,540 339,417,539 37,030,001 1,076,195 
Tarjeta Naranja S.A.U.2,619,158,876 2,059,177,310 559,981,566 67,456,378 
Tarjetas Regionales S.A.648,697,780 26,796 648,670,984 36,504,413 
Well Assistance S.A.U. (***)
1,310 7,852 (6,542)(6,542)
____________________
((*)    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.
Summary of Investments in Associates
CompanyEquity
Investment %		Place of
Business		12.31.2412.31.23
Play Digital S.A.19.75 %CABA4,438,050 6,266,081 
The movements of such investment are as follows:
Company12.31.23ContributionsPurchase of
shares 		Profit Sharing
 in income (loss)
 for the Year 		12.31.24
Play Digital S.A.6,266,081 617,537 3,302,772 (5,748,340)4,438,050 
Company12.31.22Contributions Sales of
shares		Profit Sharing
 in income (loss)
 for the Year 		12.31.23
Play Digital S.A.4,909,037 5,687,822 271,616 (4,602,394)6,266,081 
The basic information regarding Grupo Financiero Galicia’s associates is detailed as follows:
Profit Sharing in income (loss) for the Year (*)
CompanyAssetsLiabilitiesShareholders’
Equity		Net Income
 (Loss)
Play Digital S.A.36,533,909 25,312,455 11,221,454 (17,052,392)
(*) Balances according to financial statements as of September 31, 2024, restated in closing currency.
Summary of Assets and Liabilities from Acquisitions
The Assets and Liabilities arising from the acquisition are detailed below:
ItemFair value
Assets
Cash and Due from Banks6,043,199
Investments181,733,506
Property, Plant and Equipment5,601,966
Reinsurance Contract Assets37,981,302
Other Assets 29,236,364
Total Assets260,596,337
Liabilities
Provisions1,328,169
Insurance Contracts Liabilities201,248,821
Other Liabilities 19,913,151
Total Liabilities222,490,141
Net Assets38,106,196
Non-controlling Interest (*)
(215,725)
Net Assets Acquired37,890,471
(*) Non-controlling Interest is proportionate to Purchase Price Allocation.
ItemFair Value
Assets
Cash and Due from Banks1,423,216,225
Debt Securities at Fair Value through Profit or Loss93,305,406
Derivative Financial Instruments7,769,401
Repurchase Transactions1,624,555
Other Financial Assets313,969,788
Loans and Other Financing2,244,454,674
Other Debt Securities1,497,715,696
Financial Assets Pledged as Collateral176,240,249
Investments in Equity Instruments10,974,607
Investment in Associates and Joint Ventures117,719,279
Property, Plant and Equipment232,697,990
Intangible Assets Core Deposits40,200,415
Intangible Assets20,259,004
Deferred Income Tax Assets72,765,009
Other Non-financial Assets112,790,856
Non-current Assets Held for Sale15,747,916
Total Assets6,381,451,070
Liabilities
Deposits3,773,249,991
Derivative Financial Instruments5,632,717
Repurchase Transactions13,245,078
Other Financial Liabilities256,751,333
Financing from the Argentine Central Bank and Other Financial Institutions6,856,473
Subordinated Debt Securities102,634,874
Provisions31,613,708
Deferred Income Tax Liabilities48,768,064
Other Non-Financial Liabilities195,682,656
Total Liabilities4,434,434,894
Net Assets1,947,016,176
Non-controlling Interest (*)
(110,203)
Net assets acquired1,946,905,973
(*) Non-controlling Interest is proportionate to Purchase Price Allocation.
Summary of Materialized Transfers
On December 6, 2024, it was materialized through the transfer of the Direct Participation according to the following detail:
Grupo Financiero Galicia S.A.Banco de Galicia y Buenos Aires S.A.
42.11 %57.89 %
Acquired companyCapital StockTotal shares acquiredShares% of ownershipShares% of ownership
GGAL Holdings S.A. (ex - HSBC Argentina Holdings S.A.)1,184,364,3921,180,367,030497,052,55641.968 %683,314,47457.695 %
GGAL Participaciones S.A.U. (ex - HSBC Participaciones S.A.)11,513,92965,22227,4650.239 %37,7570.328 %
Banco GGAL S.A. (ex - HSBC Bank Argentina S.A.)1,244,125,589103,73943,6840.004 %60,0550.005 %
Summary of Fair Value of Acquired Net Assets
The fair value of the acquired net assets at the closing currency exchange rate amounts to Ps.1,946,905,973, as detailed below:
ItemFair value
GGAL Holdings S.A. (ex - HSBC Argentina Holdings S.A.)1,946,706,593
GGAL Participaciones S.A.U. (ex - HSBC Participaciones S.A.)50,417
Banco GGAL S.A. (ex - HSBC Bank Argentina S.A.)148,963
Total1,946,905,973