Exhibit 99.1

FOR IMMEDIATE RELEASE

For more information contact:

Pedro A. Richards

Chief Executive Officer

Telefax: (5411) 4343-7528

investors@gfgsa.com

www.gfgsa.com

GRUPO FINANCIERO GALICIA S.A. REPORTS FINANCIAL RESULTS FOR ITS

FIRST QUARTER THAT ENDED ON MARCH 31, 2016

Buenos Aires, Argentina, May 10, 2016 – Grupo Financiero Galicia S.A. (“Grupo Financiero Galicia”; Buenos Aires Stock Exchange: GGAL /NASDAQ: GGAL) announced its financial results for the first quarter that ended on March 31, 2016.

HIGHLIGHTS

• Net income for the quarter that ended on March 31, 2016, amounted to Ps.1,348 million, 40.7% higher than the Ps.958 million profit recorded in the first quarter of the 2015 fiscal year. The profit per share for the first quarter of the 2016 fiscal year amounted to Ps.1.04, compared to Ps.0.74 per share for the same quarter of the 2015 fiscal year.

• The financial results for the first quarter of the 2016 fiscal year were mainly attributable to the income derived from Grupo Financiero Galicia’s interests in Banco de Galicia y Buenos Aires S.A. (“Banco Galicia” or the “Bank”) (Ps.1,146 million), Sudamericana Holding S.A. (Ps.166 million) and Galicia Administradora de Fondos S.A. (Ps.30 million), partially offset by administrative and financial expenses of Ps.25 million.

• As of March 31, 2016, Grupo Financiero Galicia and its subsidiaries had a staff of 12,231 employees, a network of 652 branches and other points of contact with clients, managed 3.7 million deposit accounts and managed 13.9 million credit cards.

• At the Shareholders’ Meeting held on April 26, 2016, the shareholders approved the payment of a cash dividend in the amount of Ps.150 million.

CONFERENCE CALL

On Thursday, May 12, 2016 at 11:00 A.M. Eastern Standard Time (12:00 PM Buenos Aires Time), Grupo Fiananciero Galicia will host a conference call to review these results. The call-in number is: 719-325-2432 - Conference ID: 4690222.

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GRUPO FINANCIERO GALICIA S.A.

RESULTS FOR THE FIRST QUARTER

	In millions of pesos, except percentages
Table I:	FY2016						FY2015			Variation (%)*
Net Income by Business	1st Q			4th Q			1st Q			1Q15 vs 4Q 14			1Q15 vs 1Q14
Income from Equity Investments in:
Banco de Galicia y Buenos Aires S.A. (100%)		1,146			1,047			881			9.5			30.1
Sudamericana Holding S.A. (87.5%)		166			145			65			13.2			152.0
Galicia Administradora de Fondos S.A. (95%)		30			42			18			(28.9	)		68.4
Other companies (1)		6			5			3			20.0			100.0
Deferred tax adjustment (2)		24			1			21			2,300.0			14.3
Administrative Expenses		(14	)		(8	)		(7	)		75.0			100.0
Financial Results		(11	)		14			(20	)		(178.6	)		(45.0	)
Other income and expenses		1			(2	)		(3	)		(150.0	)		(133.3	)
Net Income		1,348			1,244			958			8.4			40.7

* Calculated using values in millions with decimals.

(1) Includes results from our interests in Compañía Financiera Argentina S.A. (3%), Galicia Warrants S.A. (87.5%) and Net Investment S.A. (87.5%).

(2) Income tax charge determined by Banco Galicia´s subsidiaries in accordance with the deferred tax method.

	In pesos, except stated otherwise and percentages
Table II:	FY2016				FY2015
Principal Indicators	1st Q		4th Q		1st Q
Earnings per Share
Average Shares Outstanding (in thousands)		1,300,265		1,300,265		1,300,265
Earnings per Share (1)		1.04		0.96		0.74
Book Value per Share(1)		12.18		11.14		8.62
Closing Price
Shares - Buenos Aires Stock Exchange		41.15		36.80		27.75
ADS - Nasdaq (in dollars)		28.30		27.08		23.15
Price/Book Value		3.38		3.30		3.22
Average Daily Volume (amounts, in thousands)
Buenos Aires Stock Exchange		596		1,123		904
Nasdaq (2)		3,176		5,427		5,012
Profitability (%)
Return on Average Assets (3)		3.44		3.86		3.88
Return on Average Shareholders´ Equity (3)		35.58		36.00		35.74

(1) 10 ordinary shares = 1 ADS.

(2) Expressed in equivalent shares.

(3) Annualized.

In the first quarter of fiscal year 2016, Grupo Financiero Galicia recorded a Ps.1,348 million profit, which represented a 3.44% annualized return on average assets and a 35.58% return on average shareholder’s equity.

This result is mainly due to the Ps.1,146 million profit from its interest in Banco Galicia, which represents 85.01% of Grupo Financiero Galicia’s net income.

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Grupo Financiero Galicia S.A. – Selected Financial Information – Consolidated Data	In millions of pesos
	FY2016												FY2015
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Consolidated Balance Sheet
Cash and Due from Banks		19,912			30,835			17,472			10,876			11,590
Government and Corporate Securities		30,116			15,525			17,064			19,661			15,128
Net Loans		103,245			98,345			82,838			79,663			72,139
Other Receivables Resulting from Financial Brokerage		16,334			8,061			10,834			13,987			9,802
Equity Investments in other Companies		51			52			52			51			52
Bank Premises and Equipment, Miscellaneous and Intangible Assets		5,137			4,925			4,727			4,069			3,904
Other Assets		5,644			4,005			3,555			3,676			3,698
Total Assets		180,439			161,748			136,542			131,983			116,313
Deposits		107,857			100,039			82,421			77,242			68,600
Other Liabilities Resulting from Financial Brokerage		46,112			37,329			32,672			35,153			28,899
Subordinated Notes		3,653			3,301			2,302			2,250			2,103
Other Liabilities		5,773			5,487			4,915			4,394			4,643
Minority Interest		1,211			1,107			992			891			863
Total Liabilities		164,606			147,263			123,302			119,930			105,108
Shareholders’ Equity		15,833			14,485			13,240			12,053			11,205
Consolidated Income Statement
Financial Income		8,793			8,009			6,446			5,820			5,569
Financial Expenses		(5,130	)		(4,092	)		(3,343	)		(3,171	)		(2,796	)
Gross Brokerage Margin		3,663			3,917			3,103			2,649			2,773
Provisions for Loan Losses		(618	)		(691	)		(448	)		(484	)		(591	)
Income from Services, Net		2,185			2,170			2,036			1,851			1,780
Income from Insurance Activities		581			533			447			429			392
Administrative Expenses		(3,774	)		(3,741	)		(3,317	)		(3,079	)		(2,768	)
Minority Interest		(104	)		(116	)		(101	)		(66	)		(82	)
Income from Equity Investments		2			1			47			26			26
Net Other Income		187			27			156			166			94
Income Tax		(774	)		(856	)		(736	)		(543	)		(666	)
Net Income		1,348			1,244			1,187			949			958

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Grupo Financiero Galicia S.A. – Additional Information
	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Physical Data (Number of)
Employees		12,231		12,131		12,153		12,048		12,080
Banco Galicia		5,686		5,573		5,522		5,479		5,485
Regional Credit-Card Companies		5,014		5,040		5,072		5,098		5,174
Compañía Financiera Argentina		1,152		1,161		1,205		1,147		1,119
Sudamericana Holding		326		307		303		273		252
Galicia Administradora de Fondos		18		17		17		17		16
Other companies		35		33		34		34		34
Branches		525		525		525		525		528
Bank Branches		261		260		260		260		260
Regional Credit-Card Companies		208		207		207		207		209
Compañía Financiera Argentina		56		58		58		58		59
Other Points of Sale		127		126		126		126		126
Regional Credit-Card Companies		90		90		90		90		90
Compañía Financiera Argentina		37		36		36		36		36
Deposit Accounts (in thousands)		3,701		3,593		3,394		3,193		3,028
Credit Cards (in thousands)		13,852		13,563		13,097		12,569		12,181
Banco Galicia		3,575		3,430		3,232		3,089		2,970
Regional Credit-Card Companies		10,107		9,974		9,717		9,348		9,045
Compañía Financiera Argentina		170		159		148		132		166
Inflation and Exchange Rates
Retail Price Index (%) (1)		11.86		7.75		3.73		3.17		3.42
Wholesale Price Index (I.P.I.M.) (%) (1)		N/A		N/A		4.27		3.58		1.44
C.E.R. Coefficient (%) (1)		10.49		4.14		3.49		3.51		3.13
Exchange Rate (Pesos per US$) (2)		14.5817		13.0050		9.4192		9.0865		8.8197
Rates (quarterly averages)
Badlar		27.48		24.09		20.97		20.52		20.59
Reference Interest Rate		N/A		26.19		25.97		26.30		26.83
Minimum Interest Rate on 30 to 44 days Time Deposits (4)(5)		N/A		24.78		23.27		22.88		23.34
Maximum Interest Rate on Personal Loans (4):
Group I		N/A		37.98		37.66		38.13		38.90
Group II		N/A		47.15		46.75		47.34		48.29
Interest Rate on Credit Line for Investment Projects		22.00		18.00		18.00		19.00		19.00

(1) Variation within the quarter. Variation of IPC made using the IPC of the Autonomous City of Buenos Aires for November and December, alternatively supplied by the INDEC. No data published for the IPIM.

(2) Reference foreign currency exchange rate in accordance with Communiqué “A” 3500 from the Argentine Central Bank, as of the last working day of the quarter.

(3) Except for Credit Line for Investment Projects, which corresponds to the interest rate established by regulations for each period.

(4) Average interest rate until December 17, 2015, date as of which these limits were removed.

(5) Minimum interest rate on Time Deposits for individuals, for amounts up to Ps.350,000. Since July 27, 2015, the interest rate for companies and individuals on Time Deposits is up to Ps.1 million.

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BANCO DE GALICIA Y BUENOS AIRES S.A.

HIGHLIGHTS

• Net income for the first quarter amounted of the 2016 fiscal year was Ps.1,146 million, Ps.265 million (30.1%) higher than in the same quarter of the 2015 fiscal year.

• The increase in net income relative to the first quarter of the 2015 fiscal year was mainly due to the 26.4% growth in operating income⁽¹⁾ partially offset by the 36.5% increase in administrative expenses, influenced by a provision on account of future salary increases recorded during the quarter.

• The credit exposure in the private sector reached Ps.120,169 million, up 42.7% during the last twelve months, and deposits reached Ps.108,191 million, up 57.5% during the same period. As of March 31, 2016, the Bank’s estimated market share of loans to the private sector was 9.64% while its estimated market share of deposits from the private sector was 9.37%.

• In the framework of the Credit Line for Production Financing and Financial Inclusion, as of March 31, 2016, the Bank granted the mandatory amount established by the relevant regulations in force. As of the end of the quarter, the outstanding amount of loans granted within the framework of this credit line reached Ps.9,138 million.

• The non-accrual loan portfolio represented 3.32% of total loans to the private sector, representing an improvement of 40 basis points (“bp”) from the end of the same quarter of the 2015 fiscal year, while its coverage with allowances for loan losses reached 108.31%.

INFORMATION DISCLOSURE

The data shown in the tables below and the consolidated financial statements correspond to Banco de Galicia y Buenos Aires S.A., consolidated with the subsidiaries under its direct or indirect control, except where otherwise noted.

The Bank’s consolidated financial statements and the figures included in the different tables of this report correspond to Banco de Galicia y Buenos Aires S.A., Banco Galicia Uruguay S.A. (in liquidation), Tarjetas Regionales S.A. and its subsidiaries, Tarjetas del Mar S.A., Galicia Valores S.A., Compañía Financiera Argentina S.A. and Cobranzas y Servicios S.A.

(1) Net financial income plus net income from services.

6

RESULTS FOR THE FIRST QUARTER

	In millions of pesos, except percentages
Table III Evolution of Consolidated Results	FY2016						FY2015			Variation (%)
	1st Q			4th Q			1st Q			1Q15 vs 4Q14			1Q15 vs 1Q14
Net Financial Income		3,589			3,765			2,756			(4.7	)		30.2
Net Income from Services		2,388			2,380			1,971			0.3			21.2
Provisions for Loan Losses		(618	)		(691	)		(591	)		(10.6	)		4.6
Administrative Expenses		(3,647	)		(3,607	)		(2,672	)		1.1			36.5
Operating Income		1,712			1,847			1,464			(7.3	)		16.9
Net Other Income / (Loss)*		115			(56	)		58			(305.4	)		98.3
Income Tax		(681	)		(744	)		(641	)		(8.5	)		6.2
Net Income		1,146			1,047			881			9.5			30.1

* Includes income from equity investments and minority interest results.

	Percentages
Table IV	FY2016				FY2015
Profitability and Efficiency	1st Q		4th Q		1st Q
Return on Average Assets *		2.97		3.31		3.59
Return on Average Shareholders’ Equity *		31.84		31.43		34.09
Financial Margin * (1)		10.93		14.06		13.46
Net Income from Services as a % of Operating Income (2)		39.95		38.73		41.70
Net Income from Services as a % of Administrative Expenses		65.48		65.98		73.76
Administrative Expenses as a % of Operating Income (2)		61.02		58.70		56.53

* Annualized.

(1) Financial Margin: Financial Income minus Financial Expenses, divided by Average Interest-earning Assets.

(2) Operating Income: Net Financial Income plus Net Income from Services.

In the first quarter of the 2016 fiscal year, the Bank recorded a Ps.1,146 million profit, Ps.265 million (30.1%) higher than the Ps.881 million profit for the same quarter of the previous fiscal year.

The variation in net income was a consequence of a Ps.1,250 million increase in operating income, which was offset mainly by the Ps.975 million increase in administrative expenses.

The operating income for the first quarter of the 2016 fiscal year totaled Ps.5,977 million, up 26.4% from the Ps.4,727 million recorded in the same quarter of the prior fiscal year. This positive development was due both to a higher net financial income (up Ps.833 million or 30.2%) and a higher net income from services (up Ps.417 million or 21.2%).

The net financial income for the quarter included a Ps.552 million gain from foreign-currency quotation differences (including the results from foreign-currency forward transactions), relative to a Ps.4 million profit in the first quarter of the previous fiscal year. The quarter’s profit was composed of a Ps.261 million gain from FX brokerage and a Ps.291 million gain from the valuation of the foreign-currency net position and the results from foreign-currency forward transactions, relative to a Ps.60 million profit and a Ps.56 million loss, respectively, in the first quarter of the 2015 fiscal year.

The quarter’s net financial income before foreign-currency quotation differences amounted to Ps.3,037 million, with a Ps.285 million (10.4%) increase relative to the Ps.2,752 million income of the same quarter of the 2015 fiscal year, as a consequence of the increase in the portfolio of loans to the private sector and of government securities, partially offset by a lower spread.

7

	Average balances in millions of pesos. Yields and rates in annualized nominal %
Table V	FY2016																FY2015
Average Balances,	1st Q				4th Q				3rd Q				2nd Q				1st Q
Yield and Rates*	Av. B.		Int.		Av. B.		Int.		Av. B.		Int.		Av. B.		Int.		Av. B.		Int.
Interest-Earning Assets		131,340		24.30		107,097		26.01		98,417		25.15		91,904		24.42		81,902		26.40
Government Securities		30,172		15.01		14,870		25.78		16,375		25.68		15,870		19.23		11,351		26.25
Loans		98,553		26.94		89,480		25.91		79,835		24.99		73,546		25.80		68,469		26.48
Financial Trusts Securities		665		58.23		679		51.32		721		29.39		786		5.98		823		24.70
Other Interest-Earning Assets		1,950		31.10		2,068		23.85		1,486		26.00		1,702		21.95		1,259		24.62
Interest-Bearing Liabilities		95,037		18.14		74,202		17.42		67,840		16.52		63,548		16.45		57,275		15.94
Saving Accounts		22,011		0.19		17,276		0.22		14,960		0.20		12,786		0.19		12,690		0.18
Time Deposits		55,998		24.97		43,475		23.92		39,849		22.20		37,506		21.66		33,301		21.28
Debt Securities		13,238		18.25		10,601		18.02		10,343		17.75		9,704		17.12		9,368		16.43
Other Interest-Bearing Liabilities		3,790		21.14		2,850		20.32		2,688		18.44		3,552		18.14		1,916		25.24

* Does not include foreign-currency quotation differences. Annual nominal interest rates were calculated using a 360-day denominator.

The average interest-earning assets grew Ps.49,438 million (60.4%) relative to the first quarter of the previous fiscal year, as a consequence of the Ps.30,084 million increase in the average portfolio of loans to the private sector and of the Ps.18,821 million growth in the average balance of government securities, due to a higher position in peso-denominated securities (primarily Lebac and provincial debt securities) and in dollar-denominated securities (primarily Lebac). Interest-bearing liabilities increased Ps.37,762 million (65.9%) during the same period, mainly due to an increase in the average balances of interest bearing deposits.

The average yield on interest-earning assets for the first quarter of the 2016 fiscal year was 24.30%, with a 210 bp decrease relative to the same quarter of the prior year, mainly due to a 1,124 bp decrease in interest rates on the net position of government securities, influenced by the relative weight and yield on dollar-denominated Lebac, together with a lower yield on peso-denominated government securities. Likewise, the average cost of interest-bearing liabilities was 18.14%, with a 220 bp increase relative to the first quarter of the prior year, mainly due to the increase in the average interest rate on Time Deposits, for 369 bp.

	In millions of pesos
Table VI Income from Services, Net	FY2016												FY2015
	1st Q			4th Q			3rd Q			2nd Q			1st Q
National Credit Cards		932			965			831			731			687
Regional Credit Cards		1,313			1,299			1,198			1,093			1,004
CFA		80			102			78			70			69
Deposit Accounts		594			537			511			465			447
Insurance		125			116			120			110			101
Financial Fees		38			34			35			33			35
Credit-Related Fees		57			83			75			76			80
Foreign Trade		78			63			55			50			46
Collections		61			71			69			72			64
Utility-Bills Collection Services		49			49			44			40			36
Mutual Funds		9			10			9			8			6
Other		164			159			154			132			131
Total Income		3,500			3,488			3,179			2,880			2,706
Total Expenditures		(1,112	)		(1,108	)		(952	)		(825	)		(735	)
Income from Services, Net		2,388			2,380			2,227			2,055			1,971

8

Net income from services amounted to Ps.2,388 million, up 21.2% from the Ps.1,971 million recorded in the first quarter of the previous fiscal year. The increases of fees which stood out were those related to national and regional credit cards (32.8%), deposit accounts (32.9%) and foreign trade (69.6%).

Provisions for loan losses for the first quarter of fiscal year 2016 amounted to Ps.618 million, Ps.27 million higher than those recorded in the same quarter of the prior fiscal year.

Administrative expenses for the quarter totaled Ps.3,647 million, up 36.5% from the same quarter of the previous fiscal year. Personnel expenses amounted to Ps.2,014 million, growing 31.9%, mainly due to a provision recorded during the quarter on account of future salary increases. The remaining administrative expenses amounted to Ps.1,633 million, with a Ps.488 million (42.6%) increase relative to the Ps.1,145 million from the first quarter of the 2015 fiscal year, mainly due to increases in taxes, cash transportation, maintenance, electricity and communications, rentals and security services, which resulted from an increase in the level of activity and expenses related to services provided to the Bank.

Income from equity investments for the quarter amounted to Ps.27 million, Ps.9 million (or 25.0%) lower than in the first quarter of the 2015 fiscal year, as a result of the completion of the the amortization of the negative goodwill from the acquisition of CFA in June 2015. This was partially offset by higher profits from Sudamericana Holding S.A.

Net other income for the first quarter amounted to Ps.187 million, with an increase of Ps.90 million relative to the same quarter of the prior fiscal year, mainly due to higher profits on security margin transactions and punitive interests, and lower net other provisions.

The income tax charge was Ps.681 million, Ps.40 million higher than in the first quarter of the 2015 fiscal year.

LEVEL OF ACTIVITY

	In millions of pesos
Table VII Exposure to the Private Sector	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Loans		107,087		101,902		86,238		83,051		75,119
Financial Leases		904		980		1,011		1,034		1,058
Corporate Securities		1,497		1,471		855		718		773
Other Financing *		10,681		10,629		7,923		7,454		7,149
Subtotal		120,169		114,982		96,027		92,257		84,099
Securitized Assets **		—		—		—		40		102
Total Credit		120,169		114,982		96,027		92,297		84,201

* Includes certain accounts under the balance sheet heading Other Receivables from Financial Brokerage, Guarantees Granted and Unused Balances of Loans Granted.

** Financial trust CFA Trust I.

As of March 31, 2016, the Bank’s total exposure to the private sector reached Ps.120,169 million, with an increase of 42.7% from a year before and 4.5% during the quarter.

Total loans include Ps.23,796 million corresponding to the regional credit card companies, which registered a 40.3% increase during the last twelve months and a 7.9% increase in the quarter. They also include Ps.3,761 million from CFA (including the financial trust CFA Trust I), which increased 21.4% during year and 9.7% during the quarter.

9

	Percentages
Table VIII Market Share *	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Total Loans		9.04		8.86		8.45		8.67		8.34
Loans to the Private Sector		9.64		9.57		9.11		9.15		9.06

* Banco Galicia and CFA, within the Argentine financial system, according to the daily information on loans published by the Argentine Central Bank. Loans include only principal. The regional credit-card companies’ data is not included.

The Bank’s market share of loans to the private sector as of March 31, 2016, without considering those granted by the regional credit card companies, was 9.64%, relative to a 9.57% from December 31, 2015, and 9.06% from March 31, 2015.

	In millions of pesos
Table IX	FY2016								FY2015
Loans by Type of Borrower	1st Q		4th Q		3rd Q		2nd Q		1st Q
Large Corporations		15,745		13,619		11,278		11,885		9,657
SMEs		28,027		29,022		24,518		22,854		22,171
Individuals		61,438		58,267		49,874		45,605		42,228
Financial Sector		1,877		994		568		2,707		1,063
Total Loans		107,087		101,902		86,238		83,051		75,119
Allowances		3,847		3,560		3,401		3,288		2,996
Total Loans, Net		103,240		98,342		82,837		79,763		72,123

	In millions of pesos
Table X	FY2016								FY2015
Loans by Sector of Activity	1st Q		4th Q		3rd Q		2nd Q		1st Q
Financial Sector		1,877		994		568		2,707		1,063
Services		5,971		5,797		5,398		4,761		3,821
Agriculture and Livestock		10,635		11,342		8,850		8,676		8,875
Consumer		62,149		59,012		50,160		45,864		42,481
Retail and Wholesale Trade		9,512		8,737		7,817		6,775		6,873
Construction		1,033		1,035		936		884		787
Manufacturing		14,405		13,029		10,610		11,297		9,246
Other		1,505		1,956		1,899		2,087		1,973
Total Loans		107,087		101,902		86,238		83,051		75,119
Allowances		3,847		3,560		3,401		3,288		2,996
Total Loans, Net		103,240		98,342		82,837		79,763		72,123

During the year, loans to the private sector registered growth, mainly in those granted to individuals (45.5%), large corporations (63.0%) and SMEs (26.4%). By sector of activity, the higher growth was recorded in the consumer sector (46.3%), the manufacturing sector (55.8%) and the retail and wholesale trade sector (38.4%).

10

	In millions of pesos
Table XI Exposure to the Argentine Public Sector *	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Government Securities’ Net Position		28,997		16,401		14,758		18,200		14,682
Held for Trading		28,997		16,401		14,758		18,200		14,682
Lebac / Nobac		25,104		12,619		10,770		13,972		11,790
Other		3,893		3,782		3,988		4,228		2,892
Other Receivables Resulting from Financial Brokerage		943		960		782		747		821
Trust Certificates of Participation and Securities		684		709		689		718		784
Other		259		251		93		29		37
Total Exposure		29,940		17,361		15,540		18,947		15,503

* Excludes deposits with the Argentine Central Bank, which constitute one of the items by which the Bank complies with the Argentine Central Bank’s minimum cash requirement.

As of March 31, 2016, the Bank’s exposure to the public sector amounted to Ps.29,940 million. Excluding debt securities issued by the Argentine Central Bank said exposure reached Ps.4,836 million (2.7% of total assets), relative to March 31, 2015, when it amounted to Ps.3,713 million (3.2% of total assets). This increase during the last twelve months was due to the acquisition of government securities, mainly Bonac 2016.

	In millions of pesos
Table XII Deposits *	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
In Pesos		88,990		85,866		75,955		72,304		64,105
Current Accounts		20,685		19,522		19,728		19,016		15,971
Saving Accounts		16,880		18,835		16,657		15,767		13,893
Time Deposits		49,515		46,071		38,389		36,446		33,122
Other		1,910		1,438		1,181		1,075		1,119
In Foreign Currency		19,201		14,403		6,629		5,052		4,592
Total Deposits		108,191		100,269		82,584		77,356		68,697

* Includes deposits in Banco Galicia and CFA, net of eliminations between said companies. Deposits from the remaining subsidiaries were not eliminated.

As of March 31, 2016, the Bank’s deposits amounted to Ps.108,191 million, representing a 57.5% increase during the last twelve months, as a consequence of the 38.8% increase in peso-denominated deposits and a 318.1% increase in dollar-denominated deposits. During the quarter, the increase was of 7.9%, with growths of 3.6% and 33.3% for peso-denominated deposits and dollar-denominated deposits, respectively.

Dollar-denominated deposits amounted to US$ 1,316 million, increasing 152.9% relative to the same quarter of 2015 and 18.3% relative to the fourth quarter of 2015, together with a 65.3% increase in the quotation of the dollar during the last twelve months.

	Percentages
Table XIII Market Share *	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Total Deposits		7.73		7.43		7.12		6.97		6.70
Private Sector Deposits		9.37		9.41		8.92		8.73		8.71

* Banco Galicia and CFA, within the Argentine financial system, according to the daily information on deposits published by the Argentine Central Bank. Deposits and Loans include only principal.

11

As of March 31, 2016, the Bank’s estimated market share of private sector deposits in the Argentine financial system was 9.37%, relative to 9.41% in the prior quarter and to 8.71% in March 31, 2015.

	In millions of pesos
Table XIV	FY2016								FY2015
Other Financial Liabilities	1st Q		4th Q		3rd Q		2nd Q		1st Q
Domestic Financial Institutions and Credit Entities		2,176		1,389		1,136		1,423		1,457
Foreign Financial Institutions and Credit Entities		1,423		1,406		1,284		1,843		1,591
Notes*		13,737		12,748		10,362		10,468		9,563
Obligations in Connection with Spot Transactions Pending Settlement and Repurchase Agreement Transactions		9,303		1,059		5,184		8,443		3,937
Obligations in Connection with Debts with Merchants due to Credit-Card Activities		15,223		15,316		11,986		10,917		10,515
Other		8,470		9,075		4,664		4,017		3,611
Total		50,332		40,993		34,616		37,111		30,674

* Includes subordinated notes.

As of March 31, 2016, other financial liabilities amounted to Ps.50,332 million, Ps.19,658 million or 64.1% higher than the Ps.30,674 million recorded as of March 31, 2015. This growth was mainly due to an increase in: (i) spot transactions pending settlement and repurchase agreement transactions of foreign currency and government securities (Ps.5,366 million); (ii) financing from merchants in connection with credit card activities (Ps.4,708); (iii) notes (Ps.4,174), related to transactions of Tarjeta Naranja S.A., Tarjetas Cuyanas S.A., Tarjetas del Mar S.A. and CFA S.A., offset by amortizations made during the last twelve months, which include the payment of the second amortization installment (for US$67 million) of the Cass XIII Notes issued by Tarjeta Naranja, and by the evolution of the exchange rate during the same period, and (iv) the item “Other” (Ps.4,859 million), where it is worth noting the higher volume of exports from clients pending settlement together with the evolution of the exchange rate (Ps.1,062 million), the increase of the amount to be paid to clients of Banco Galicia in connection with outstanding contracts of sales of foreign currency forward transactions (Ps.829 million) and the higher interest collected in advance from the discount of coupons from merchants due to credit-card transactions (Ps.500 million).

As of March 31, 2016, the Bank had 3.7 million deposit accounts, which represent an increase of approximately 673 thousand accounts relative to March 31, 2015. Likewise, the number of credit cards reached 13.9 million, 1.7 million more than those managed a year before.

ASSET QUALITY

	In millions of pesos, except percentages
Table XV	FY2016								FY2015
Loan Portfolio Quality	1st Q		4th Q		3rd Q		2nd Q		1st Q
Non-Accrual Loans *		3,552		3,167		3,126		3,076		2,795
With Preferred Guarantees		99		106		54		44		53
With Other Guarantees		116		103		118		92		71
Without Guarantees		3,337		2,958		2,954		2,940		2,671
Allowance for Loan Losses		3,847		3,560		3,401		3,288		2,996
Non-Accrual Loans to Private-Sector Loans (%)		3.32		3.11		3.62		3.70		3.72
Allowance for Loan Losses to Private-Sector Loans (%)		3.59		3.49		3.94		3.96		3.99
Allowance for Loan Losses to Non-Accrual Loans (%)		108.31		112.41		108.80		106.89		107.19
Non-Accrual Loans with Guarantees to Non-Accrual Loans (%)		6.05		6.60		5.50		4.42		4.44

* The non-accrual portfolio includes loans classified under the following categories of the Argentine Central Bank classification: With Problems and Medium Risk, High Risk of Insolvency and High Risk, Uncollectible and Uncollectible due to Technical Reasons.

12

The Bank’s non-accrual loan portfolio amounted to Ps.3,552 million as of March 31, 2016, representing 3.32% of total loans to the private-sector, improving 40 bp relative to the 3.72% ratio from a year before.

The coverage of the non-accrual loan portfolio with allowances for loan losses reached 108.31% as of March 31, 2016, relative to 107.19% from a year before.

In terms of total Credit—defined as loans, certain accounts included in “Other Receivables Resulting from Financial Brokerage” representing credit transactions, assets under financial leases, guarantees granted and unused balances of loans granted—the Bank’s non-accrual portfolio represented 2.99% of total credit to the private-sector, and its coverage with allowances for loan losses reached 109.63%, relative to 3.37% and 108.05% from a year before, respectively.

On an individual basis Banco Galicia’s non-accrual loan portfolio amounted to Ps.1,518 million as of March 31, 2016, increasing 38.9% during the last twelve months, representing 1.90% of total loans to the private-sector, relative to the 1.98% ratio recorded a year before. The coverage with allowances for loan losses reached 127.87%, relative to 142.45% at the end of the first quarter of the 2015 fiscal year.

	In millions of pesos
Table XVI Consolidated Analysis of Loan Loss Experience	FY2016												FY2015
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Allowance for Loan Losses at the Beginning of the Quarter		3,560			3,401			3,288			2,996			2,615
Changes in the Allowance for Loan Losses
Provisions Charged to Income		593			657			437			481			573
Provisions Reversed		—			—			—			—			—
Charge Offs		(306	)		(498	)		(324	)		(189	)		(192	)
Allowance for Loan Losses at Quarter End		3,847			3,560			3,401			3,288			2,996
Charge to the Income Statement
Provisions Charged to Income		(593	)		(657	)		(428	)		(470	)		(573	)
Direct Charge Offs		(18	)		(21	)		(19	)		(14	)		(12	)
Bad Debts Recovered		56			86			74			65			67
Provisions Reversed *		—			—			—			—			—
Net Charge to the Income Statement		(555	)		(592	)		(373	)		(419	)		(518	)

* Recorded under “Net Other Income/(Loss)”.

During the quarter, Ps.306 million was charged off against the allowance for loan losses and direct charges to the income statement for Ps.18 million were made.

13

	In millions of pesos, except ratios
Table XVII Consolidated Regulatory Capital *	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Minimum Capital Required (A)		12,457		11,063		8,807		7,993		7,478
Allocated to Credit Risk		9,397		8,369		6,377		5,776		5,419
Allocated to Market Risk		477		296		250		174		152
Allocated to Operational Risk		2,583		2,398		2,180		2,043		1,907
Computable Capital (B)		14,500		14,071		12,674		11,536		10,654
Tier I		12,510		11,732		10,599		9,692		8,911
Tier II		1,990		2,339		1,857		1,741		1,657
Additional Capital – Market Variation		—		—		218		103		86
Excess over Required Capital (B) - (A) (1)		2,043		3,008		3,867		3,543		3,176
Total Capital Ratio (%) (2)		11.75		13.38		15.77		16.03		15.87
Regulatory Ratio (%) (3)		9.52		10.18		11.51		11.55		11.40

* Through its Communiqué “A” 5831, the Argentine Central Bank established that beginning in December 2015 the capital requirement on credit risk has to be calculated considering the balances as of the last day of each month (previously the balances to be considered were the average balances corresponding to the second month before the determination of the requirement). Regarding computable capital, the one to be considered is that of the same month of the requirement (previously it was that of a month before).

(1) The excess capital covers the 0.25% increase of the additional requirement related to the function of custodian of titles representative of investments of the Fondo de Garantía y Sustentabilidad del Sistema Integrado Previsional Argentino.

(2) Total computable capital / risk weighted assets (credit and market risks).

(3) In accordance with Argentine Central Bank regulations, operational risk is to be considered in order to determine risk weighted assets. The requirement on operational risk is related the evolution of the average of financial income and fee income.

As of March 31, 2016, the Bank’s consolidated computable capital was Ps.2,043 million (16.4%) higher than the Ps.12,457 million capital requirement. As of March 31, 2015, this excess amounted to Ps.3,176 million or 42.5%.

The minimum capital requirement increased Ps.4,979 million relative to March 31, 2015, mainly as a result of higher requirements of: (i) Ps.3,978 million due to the growth of the private-sector loan portfolio; and (ii) Ps.676 million on operational risk.

Computable capital increased Ps.3,846 million relative to March 31, 2015, mainly as a consequence of a higher Tier I capital, for Ps.3,599 million, due to the higher net income, partially offset by higher deductions, resulting from organization and development expenses. Tier II capital recorded a Ps.333 million increase, mainly as a consequence of the higher balance of the provision for loan losses on the credit portfolio in normal situation, offset by the 24% limit (42% until December 31, 2015) on the balance of subordinated notes admitted for the 2015 fiscal year due to the relevant regulations in force.

	Percentages
Table XVIII Liquidity (unconsolidated)	FY2016								FY2015
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Liquid Assets * as a percentage of Transactional Deposits		91.72		91.51		75.28		76.94		76.81
Liquid Assets * as a percentage of Total Deposits		42.32		42.93		37.05		37.41		36.36

* Liquid assets include cash and due from banks (including deposits with the Argentine Central Bank and the special escrow accounts with the monetary authority), holdings of Lebac and Nobac (Argentine Central Bank’s bills and notes, respectively), net call money interbank loans, short-term placements with correspondent banks and reverse repurchase agreement transactions with the local market.

As of March 31, 2016, the Bank’s liquid assets represented 91.72% of the Bank’s transactional deposits and 42.32% of its total deposits, relative to 76.81% and 36.36%, respectively, as of March 31, 2015.

14

BANCO DE GALICIA Y BUENOS AIRES S.A.

SELECTED FINANCIAL INFORMATION - CONSOLIDATED DATA ^*

	In millions of pesos
	FY2016									FY2015
	1st Q		4th Q		3rd Q		2nd Q			1st Q
Cash and Due from Banks		19,891		30,828		17,466		10,871			11,585
Government and Corporate Securities		29,348		15,045		16,637		19,187			14,741
Net Loans		103,240		98,342		82,837		79,763			72,123
Other Receivables Resulting from Financial Brokerage		16,837		8,248		10,413		13,694			9,493
Equity Investments in Other Companies		150		129		104		109			100
Bank Premises and Equipment, Miscellaneous and Intangible Assets		5,051		4,838		4,648		3,996			3,839
Other Assets		4,641		3,120		2,689		2,849			2,930
Total Assets		179,158		160,550		134,794		130,469			114,811
Deposits		108,008		100,183		82,487		77,285			68,639
Other Liabilities Resulting from Financial Brokerage		46,679		37,692		32,314		34,861			28,571
Subordinated Notes		3,653		3,301		2,302		2,250			2,103
Other		4,702		4,503		3,980		3,571			3,898
Minority Interests		1,158		1,059		946		844			820
Total Liabilities		164,200		146,738		122,029		118,811			104,031
Shareholders’ Equity		14,958		13,812		12,765		11,658			10,780
Foreign-Currency Assets and Liabilities
Assets		28,853		27,237		16,884		16,729			14,087
Liabilities		32,775		28,051		16,535		16,678			13,946
Net Forward Purchases/(Sales) of Foreign Currency (1)		3,639		3,142		1,621		(690	)		(1,105	)

* Banco de Galicia y Buenos Aires S.A. consolidated with subsidiary companies (Section 33 - Law No. 19,550).

(1) Recorded off-balance sheet.

15

BANCO DE GALICIA Y BUENOS AIRES S.A.:

SELECTED FINANCIAL INFORMATION - CONSOLIDATED DATA ^*

	In millions of pesos
	FY2016												FY2015
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Financial Income		8,694			7,939			6,393			5,779			5,530
Interest on Loans to the Financial Sector		64			42			21			9			14
Interest on Overdrafts		701			573			531			398			376
Interest on Promissory Notes		1,657			1,525			1,242			1,129			1,138
Interest on Mortgage Loans		123			109			96			85			77
Interest on Pledge Loans		23			23			23			21			21
Interest on Credit-Card Loans		2,950			2,567			2,239			2,309			2,142
Interest on Financial Leases		75			71			53			51			52
Interest on Other Loans		1,081			946			831			780			742
Net Income from Government and Corporate Securities		1,343			1,166			1,225			888			876
Net Income from Options		—			88			4			(1	)		1
Interest on Other Receivables Resulting from Financial Brokerage		12			(6	)		23			15			26
Net Income from Secured Loans - Decree No. 1387/01		—			—			—			1			—
CER Adjustment		—			—			—			3			—
Other		326			982			43			40			31
Quotation Differences on Gold and Foreign Currency		339			(147	)		62			51			34
Financial Expenses		(5,105	)		(4,174	)		(3,318	)		(3,151	)		(2,774	)
Interest on Saving Accounts Deposits		(1	)		(1	)		(1	)		0			(1	)
Interest on Time Deposits		(3,468	)		(2,570	)		(2,194	)		(2,016	)		(1,755	)
Interest on Subordinated Obligations		(151	)		(108	)		(93	)		(88	)		(85	)
Other Interest		(12	)		(119	)		(22	)		(20	)		(22	)
Interest on Interbank Loans Received (Call Money Loans)		(15	)		(15	)		(8	)		(12	)		(6	)
Interest on Other Financing from Financial Entities		(29	)		(20	)		(18	)		(25	)		(23	)
Net Losses from Options		(19	)		—			—			—			—
Interest on Other Liabilities Resulting from Financial Brokerage		(601	)		(466	)		(463	)		(432	)		(385	)
Contributions to the Deposit Insurance Fund		(163	)		(138	)		(128	)		(119	)		(112	)
Quotation Differences on Gold and Foreign Currency		—			(256	)		—			—			—
Other		(646	)		(481	)		(391	)		(439	)		(385	)
Gross Financial Margin		3,589			3,765			3,075			2,628			2,756
Provisions for Loan Losses		(618	)		(691	)		(448	)		(484	)		(591	)
Income from Services, Net		2,388			2,380			2,227			2,055			1,971
Administrative Expenses		(3,647	)		(3,607	)		(3,204	)		(2,967	)		(2,672	)
Personnel Expenses		(2,014	)		(1,963	)		(1,747	)		(1,654	)		(1,527	)
Directors’ and Syndics’ Fees		(15	)		(25	)		(27	)		(27	)		(23	)
Other Fees		(83	)		(112	)		(105	)		(87	)		(58	)
Advertising and Publicity		(141	)		(158	)		(141	)		(135	)		(107	)
Taxes		(359	)		(325	)		(286	)		(263	)		(229	)
Depreciation of Premises and Equipment		(60	)		(60	)		(55	)		(50	)		(47	)
Amortization of Organization Expenses		(187	)		(194	)		(158	)		(147	)		(135	)
Other Operating Expenses		(458	)		(427	)		(394	)		(355	)		(327	)
Other		(330	)		(343	)		(291	)		(249	)		(219	)
Minority Interest Results		(99	)		(113	)		(101	)		(74	)		(75	)
Income from Equity Investments		27			24			61			37			36
Net Other Income / (Loss)		187			33			153			172			97
Income Tax		(681	)		(744	)		(656	)		(489	)		(641	)
Net Income / (Loss)		1,146			1,047			1,107			878			881

* Banco de Galicia y Buenos Aires S.A., consolidated with subsidiary companies (Section 33 – Law No. 19,550).

16

CONSUMER FINANCE BUSINESS – ADITIONAL INFORMATION

TARJETAS REGIONALES S.A.

The data shown in the following tables correspond to Tarjetas Regionales S.A. consolidated with its subsidiaries (Tarjeta Naranja S.A., Tarjetas Cuyanas S.A., Procesadora Regional S.A. and Cobranzas Regionales S.A.). Figures are stated according to Argentine Central Bank accounting standards.

	In millions of pesos, except percentages
Table XIX Selected Information	FY2016						FY2015			Variation (%)
	1st Q			4th Q			1st Q			1Q15 vs 4Q14			1Q15 vs 1Q14
Total Assets		23,573			22,682			17,228			3,9			36,8
Cash and Due from Banks		326			379			251			(14,0	)		29,9
Loans		21,316			19,711			15,132			8,1			40,9
Total Liabilities		18,861			18,398			14,004			2,5			34,7
Notes		4,526			4,812			4,086			(5,9	)		10,8
Financial Entities		1,851			1,228			1,214			50,7			52,5
Merchants		10,523			10,630			7,310			(1,0	)		44,0
Shareholders’ Equity		4,712			4,284			3,224			10,0			46,2
Net Income		429			491			311			(12,6	)		37,9
Net Financial Income		863			845			561			2,1			53,8
Net Income from Services		1,094			1,163			885			(5,9	)		23,6
Provisions for Loan Losses		(255	)		(224	)		(203	)		13,8			25,6
Administrative Expenses		(1,130	)		(1,172	)		(811	)		(3,6	)		39,3
Loan Portfolio Quality											Variation (b.p.)
Non-Accrual Loans to Total Loans (%)		6.11			5.98			6.94			13			(83	)
Allowance for Loan Losses to Total Loans (%)		5.76			5.70			6.45			6			(69	)
Allowance for Loan Losses to Non-Accrual Loans (%)		94.28			95.36			92.88			(108	)		140

	Percentages
Table XX	FY2016				FY2015
Profitability and Efficiency	1st Q		4th Q		1st Q
Return on Average Assets *		7.79		9.84		7.50
Return on Average Shareholders’ Equity *		37.86		49.81		39.14
Financial Margin * (1)		16.12		17.14		13.90
Net Income from Services as a % of Operating Income (2)		55.90		57.92		61.20
Net Income from Services as a % of Administrative Expenses		96.81		99.23		109.12
Administrative Expenses as a % of Operating Income (2)		57.74		58.37		56.09

* Annualized.

(1) Financial Margin: Financial Income minus Financial Expenses, divided by Average Interest-earning Assets.

(2) Operating Income: Net Financial Income plus Net Income from Services.

17

COMPAÑÍA FINANCIERA ARGENTINA S.A.

	In millions of pesos, except percentages
Table XXI	FY2016						FY2015			Variation (%)
Selected Information	1st Q			4th Q			1st Q			1Q15 vs 4Q14			1Q15 vs 1Q14
Total Assets		4,229			3,748			3,726			12,8			13,5
Cash and Due from Banks		180			345			275			(47,8	)		(34,5	)
Loans		3,273			2,929			2,763			11,7			18,5
Total Liabilities		2,926			2,498			2,577			17,1			13,5
Deposits		922			617			969			49,4			(4,9	)
Notes		1,032			733			728			40,8			41,8
Financial Entities		256			435			349			(41,1	)		(26,6	)
Shareholders’ Equity		1,303			1,250			1,149			4,2			13,4
Net Income		53			40			27			32,5			96,3
Net Financial Income		319			435			273			(26,7	)		16,8
Net Income from Services		54			53			40			1,9			35,0
Provisions for Loan Losses		(72	)		(135	)		(110	)		(46,7	)		(34,5	)
Administrative Expenses		(244	)		(251	)		(185	)		(2,8	)		31,9
Loan Portfolio Quality											Variation (b.p.)
Non-Accrual Loans to Total Loans (%)		14.54			16.10			16.42			(156	)		(188	)
Allowance for Loan Losses to Total Loans (%)		12.98			14.58			10.84			(160	)		214
Allowance for Loan Losses to Non-Accrual Loans (%)		89.21			90.58			66.01			(137	)		2.320

	Percentages
Table XXII	FY2016				FY2015
Profitability and Efficiency	1st Q		4th Q		1st Q
Return on Average Assets *		5.53		4.19		2.97
Return on Average Shareholders’ Equity *		16.52		12.23		9.20
Financial Margin * (1)		34.73		49.21		33.21
Net Income from Services as a % of Operating Income (2)		14.48		10.86		12.78
Net Income from Services as a % of Administrative Expenses		22.13		21.12		21.62
Administrative Expenses as a % of Operating Income (2)		65.42		51.43		59.11

* Annualized.

(1) Financial Margin: Financial Income minus Financial Expenses, divided by Average Interest-earning Assets.

(2) Operating Income: Net Financial Income plus Net Income from Services.

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SUDAMERICANA HOLDING S.A.

INFORMATION DISCLOSURE

The data shown in the tables of this report and the consolidated financial statements corresponding to Sudamericana Holding S.A., consolidated with the subsidiaries under its direct or indirect control (Galicia Seguros S.A., Galicia Retiro Compañía de Seguros S.A. and Galicia Broker Asesores de Seguros S.A.).

RESULTS FOR THE QUARTER ENDED MARCH 31, 2016

	In millions of pesos, except percentages
Table XXIII	Quarters ended:									Variation (%)
Selected Information	03/31/16			12/31/15			03/31/15			Quarter			Annual
Assets		1,816			1,517			1,143			19.7			58.9
Premiums Receivable		446			408			304			9.3			46.7
Reinsurance Recoverables		2			1			2			100.0			—
Liabilities		982			871						12.7			44.0
Debt with Insureds		175			161			128			8.7			36.7
Debt with Reinsurers		4			8			5			(50.0	)		(20.0	)
Debt with Agents and Brokers		105			85			63			23.5			66.7
Insurance Contract Liabilities		245			240			191			2.1			28.3
Shareholders’ Equity		835			646			462			29.3			80.7
Net Income		189			167			75			13.2			152.0
Earned Premiums		781			719			530			8.6			47.4
Incurred Claims		(103	)		(89	)		(69	)		15.7			49.3
Net Investment Income		59			100			26			(41.0	)		126.9
Commissions and Other		(167	)		(196	)		(195	)		(14.8	)		(14.4	)
Operating Expenses		(212	)		(222	)		(130	)		(4.5	)		(63.1	)
Annualized Sales		216			201			149			7.5			45.0

	Percentages
Table XXIV	Quarters ended:
Profitability	03/31/16		12/31/15		03/31/15
Return on Average Assets *		45.40		46.63		27.7
Return on Average Shareholders’ Equity *		97.04		116.00		68.3

* Annualized.

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GALICIA ADMINISTRADORA DE FONDOS S.A.

RESULTS FOR THE QUARTER ENDED MARCH 31, 2016

	In millions of pesos, except percentages
Table XXV:	FY2016						FY2015			Variation (%)
Selected Information	1st Q			4th Q			1st Q			1Q16 vs 4Q15			1Q16 vs 1Q15
Shareholders’ Equity		41			120			23			(65.8	)		78.3
Net Income		32			45			19			(28.9	)		68.4
Fees and Commissions		49			55			35			(10.9	)		40.0
Administrative Expenses		(9	)		(7	)		(7	)		28.6			28.6
Commercial Expenses		(3	)		(4	)		(2	)		(25.0	)		50.0

	In millions of pesos, except percentages
Table XXVI:	Assets Under Management as of:				Variation
Mutual Funds	03/31/16		03/31/15		Ps.			%
Fima Premium		4,295		4,272		23			0.5
Fima Ahorro Pesos		5,546		3,095		2,451			79.2
Fima Ahorro Plus		5,373		5,009		364			7.3
Fima Capital Plus		1,301		1,432		(131	)		(9.1	)
Fima Renta en Pesos		107		58		49			84.5
Fima Renta Plus		141		93		48			51.6
Fima Abierto Pymes		220		102		118			115.7
Fima Acciones		81		88		(7	)		(8.0	)
Fima PB Acciones		265		236		29			12.3
Total Assets Under Management		17,329		14,385		2,944			20.5

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RECENT DEVELOPMENTS

BANCO GALICIA

CHIEF EXECUTIVE OFFICER

On April 4, 2016, Mr. Fabián Kon was appointed CEO of Banco Galicia (subject to the approval of the Argentine Central Bank), after serving as the CEO of Galicia Seguros and as the Manager of the Retail Banking Division at Banco Galicia.

DIVIDEND DISTRIBUTION

At the annual shareholders’ meeting of Banco Galicia’s main subsidiaries, the shareholders approved the following dividend distribution: Ps.300 million in CFA (subject to the approval of the Argentine Central Bank), Ps.210 million in Tarjetas Regionales S.A. and Ps.52 million in Cobranzas y Servicios S.A.

DISTRIBUTION NETWORK

During the quarter and in April, Banco Galicia increased its distribution network with the opening of 3 branches: Cañuelas, in the province of Buenos Aires, and Cutral Có and Añelo, in the province of Neuquén.

BANCO GALICIA URUGUAY

In the Extraordinary Shareholders’ Meeting of Banco Galicia Uruguay S.A. (in liquidation), held on April 30, 2016, the shareholders approved the Special Final Financial Report and the initiation of the cancelation process of the company’s legal status in of Republic of Uruguay.

AWARDS

The IFC (International Finance Corporation) awarded Banco Galicia as the Best Trade Partner Bank Southern Cone, due to its continued support in the financing of foreign trade transactions.

REGULATORY CHANGES

NET POSITION IN FOREIGN CURRENCY

On March 1, 2016, through its Communiqué “A” 5917, the Argentine Central Bank established new limits on the long net position of foreign currency. Beginning on said date, the limit was established at 15% (previously 20%) of the computable regulatory capital or of its own liquid resources, whichever is the lesser, and at 7.5% for forward transactions (previously 10%). Subsequently, through its Communiqué “A” 5935 from March 31, 2016, these limits were reduced to 10% and 5%, respectively, beginning on April 1, 2016.

DEPOSIT INSURANCE SYSTEM

On April 7, 2016, through its Communiqué “A” 5943, the Argentine Central Bank reduced the monthly contribution from financial entities to the Deposit Insurance Fund. Beginning in April 2016, the amount was reduced from 0.06% to 0.015% of the monthly average of deposits. In addition, the maximum limit to cover the risk attached to bank deposits through the Deposit Insurance Fund was increased from Ps.350,000 to Ps.450,000, beginning on May 1, 2016.

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DEPOSITS AND LOANS DENOMINATED IN HOUSING UNITS (UVIS)

In order to facilitate the access to mortgage loans, on April 4, through its Communiqué “A” 5945, the Argentine Central Bank established a new type of deposit and loan denominated in Housing Units or UVIs, per its initials in Spanish (Unidades de Vivienda). The value of the UVIs will be adjusted by the Reference Stabilization Coefficient (CER), based on the consumer price index.

FEES

Through its Communiqués “A” 5927 and 5928, from March 21, 2016, the Argentine Central Bank establish that no fees can be charged on certain products and services granted by financial entities, such as saving accounts, the use of debit cards related to said accounts and the transfer of cash without any limit for individuals.

In addition, the Argentine Central Bank approved a 20% increase in fees on other products other than those that are free of charges, and removed limits on increases from September 1, 2016, onwards.

This report is a summary analysis of Grupo Financiero Galicia’s financial condition and results of operations as of and for the periods indicated. For a correct interpretation, this report must be read in conjunction with Grupo Financiero Galicia’s financial statements, as well as with all other material periodically filed with the National Securities Commission (www.cnv.gob.ar), the Buenos Aires Stock Exchange (www.bolsar.com), the Cordoba Stock Exchange (www.bolsacba.com.ar) and the Nasdaq (www.nasdaq.com). In addition, the Argentine Central Bank (www.bcra.gob.ar) may publish information related to Banco Galicia as of a date subsequent to the last date for which the Bank has published information.

Readers of this report must note that this is a translation made from an original version written and expressed in Spanish. Therefore, any matters of interpretation should be referred to the original version in Spanish.

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