Exhibit 99.1

FOR IMMEDIATE RELEASE

For more information contact:

José Luis Ronsini

CFO – Grupo Financiero Galicia S.A.

Telefax: (5411) 4343-7528

Pablo Firvida

Institutional Relations Manager

Tel.: (54-11) 6329-4881

inversores@gfgsa.com

www.gfgsa.com

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

FIRST QUARTER THAT ENDED ON MARCH 31, 2017

Buenos Aires, Argentina, May 9, 2017 – Grupo Financiero Galicia S.A. (“Grupo Financiero Galicia”; Buenos Aires Stock Exchange: GGAL /NASDAQ: GGAL) today announced its financial results for the first quarter that ended on March 31, 2017 (or “the quarter”).

HIGHLIGHTS

➣ Net income for the quarter that ended on March 31, 2017, amounted to Ps.1,601 million, 18.8% higher than the Ps.1,348 million profit recorded in the first quarter of the 2016 fiscal year. The profit per share for the quarter amounted to Ps.1.23, compared to Ps.1.04 per share for the same quarter of the 2016 fiscal year.

➣ The results of the quarter were mainly attributable to the income derived from Grupo Financiero Galicia’s interest in Banco de Galicia y Buenos Aires S.A. (“Banco Galicia” or the “Bank”), for Ps.1,480 million (+29.1%), in Sudamericana Holding S.A., for Ps.93 million (-44.0%), and in Galicia Administradora de Fondos S.A., for Ps.85 million (+183.3%), partially offset by administrative and financial expenses of Ps.45 million.

➣ As of March 31, 2017, Grupo Financiero Galicia and its subsidiaries had a staff of 11,831 employees, a network of 634 branches and other points of contact with clients, managed 4.1 million deposit accounts and managed 13.7 million credit cards.

➣ At the Shareholders’ Meeting held on April 25, 2017, the shareholders approved the payment of a cash dividend in the amount of Ps.240 million.

CONFERENCE CALL

On Wednesday, May 10, 2017 at 11:00 A.M. Eastern Standard Time (12:00 PM Buenos Aires Time), Grupo Financiero Galicia will host a conference call to review the results of the quarter. The call-in number is: 719-325-4760—Conference ID: 9785639.

2

GRUPO FINANCIERO GALICIA S.A.

RESULTS FOR THE QUARTER

	In millions of pesos, except percentages
	FY2017			FY2016						Variation (%)(*)
Table I: Net Income by Business	1st Q			4th Q			1st Q			1Q17 vs 4Q16			1Q17 vs 1Q16
Income from Equity Investments in:
Banco de Galicia y Buenos Aires S.A.		1,480			1,552			1,146			(4.6	)		29.1
Sudamericana Holding S.A.		93			98			166			(5.1	)		(44.0	)
Galicia Administradora de Fondos S.A.		85			66			30			28.8			183.3
Other companies (1)		(5	)		9			6			(155.6	)		(183.3	)
Deferred tax adjustment (2)		(4	)		70			24			(105.7	)		(116.7	)
Administrative Expenses		(37	)		(13	)		(14	)		184.6			164.3
Financial Results		(8	)		(13	)		(11	)		(38.5	)		(27.3	)
Other income and expenses		(3	)		3			1			(200.0	)		(400.0	)
Net Income		1,601			1,772			1,348			(9.7	)		18.8

(*) 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:	FY2017		FY2016
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)		1.23		1.36		1.04
Book Value per Share (1)		16.88		15.65		12.18
Closing Price
Shares—Buenos Aires Stock Exchange		58.90		42.70		41.15
ADS—Nasdaq (in dollars)		37.86		26.92		28.30
Price/Book Value		3.49		2.73		3.38
Average Daily Volume (amounts, in thousands)
Buenos Aires Stock Exchange		682		517		596
Nasdaq (2)		4,620		3,059		3,176
Profitability (%)
Return on Average Assets (3)		2.98		3.59		3.44
Return on Average Shareholders´ Equity (3)		30.22		36.45		35.58

(1) 10 ordinary shares = 1 ADS.

(2) Expressed in equivalent shares.

(3) Annualized.

In the first quarter of the 2017 fiscal year, Grupo Financiero Galicia recorded a Ps.1,601 million profit, which represented a 2.98% annualized return on average assets and a 30.22% return on average shareholder’s equity.

This result was mainly due to profits from Grupo Financiero Galicia’s interest in Banco Galicia, for Ps.1,480 million, which represents 92.4% of its net income.

3

Grupo Financiero Galicia S.A. – Selected Financial Information – Consolidated Data

	In millions of pesos
	FY2017			FY2016
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Consolidated Balance Sheet
Cash and due from Banks		50,221			61,166			28,312			28,439			19,912
Government and Corporate Securities		25,590			13,701			23,354			29,804			30,116
Net Loans		146,443			137,452			118,959			109,334			103,245
Other Receivables Resulting from Financial Brokerage		20,773			18,178			16,440			21,752			16,334
Equity Investments in other Companies		54			53			52			51			51
Bank Premises and Equipment, Miscellaneous and Intangible Assets		7,098			6,678			6,131			5,623			5,137
Other Assets		5,849			5,023			4,754			4,847			5,644
Total Assets		256,028			242,251			198,002			199,850			180,439
Deposits		158,652			151,688			117,408			118,114			107,857
Other Liabilities Resulting from Financial Brokerage		62,480			57,794			50,504			53,954			46,112
Subordinated Notes		3,865			4,065			3,837			3,881			3,653
Other Liabilities		7,520			6,889			6,343			5,619			5,773
Minority Interest		1,558			1,462			1,329			1,224			1,211
Total Liabilities		234,075			221,898			179,421			182,792			164,606
Shareholders’ Equity		21,953			20,353			18,581			17,058			15,833
Consolidated Income Statement
Financial Income		9,988			9,502			9,216			9,097			8,793
Financial Expenses		5,117			(4,515	)		(5,186	)		(5,408	)		(5,130	)
Gross Brokerage Margin		4,871			4,987			4,030			3,689			3,663
Provisions for Loan Losses		1,157			(1,311	)		(881	)		(723	)		(618	)
Income from Services, Net		3,461			3,169			2,927			2,465			2,185
Income from Insurance Activities		525			615			611			645			581
Administrative Expenses		5,131			(5,054	)		(4,552	)		(4,238	)		(3,774	)
Minority Interest		(181	)		(133	)		(105	)		(61	)		(104	)
Income from Equity Investments		6			2			2			74			2
Net Other Income		178			474			346			271			187
Income Tax		971			(977	)		(855	)		(747	)		(774	)
Net Income		1,601			1,772			1,523			1,375			1,348

4

Grupo Financiero Galicia S.A. – Additional Information

	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Physical Data (Number of)
Employees		11,831		11,956		12,074		12,149		12,231
Banco Galicia		5,939		5,799		5,781		5,679		5,686
Regional Credit-Card Companies		4,316		4,571		4,688		4,893		5,014
Compañía Financiera Argentina		1,156		1,164		1,189		1,184		1,152
Sudamericana Holding		375		374		365		340		326
Galicia Administradora de Fondos		16		16		18		18		18
Other companies		29		32		33		35		35
Branches		549		542		536		529		526
Bank Branches		279		279		269		263		261
Regional Credit-Card Companies		207		206		210		209		208
Compañía Financiera Argentina		63		57		57		57		57
Other Points of Sale		85		120		126		126		127
Regional Credit-Card Companies		54		83		89		89		90
Compañía Financiera Argentina		31		37		37		37		37
Deposit Accounts (in thousands)		4,149		4,018		3,990		3,904		3,701
Credit Cards (in thousands)		13,703		14,310		14,525		14,252		13,852
Banco Galicia		3,797		3,675		3,637		3,680		3,575
Regional Credit-Card Companies		9,729		10,459		10,717		10,402		10,107
Compañía Financiera Argentina		177		176		171		170		170
Inflation and Exchange Rates
Retail Price Index (%) (1)		6.26		5.26		3.43		15.51		11.86
Wholesale Price Index (I.P.I.M.) (%) (1)		4.15		2.52		3.52		8.20		17.20
C.E.R. Coefficient (%) (1)		4.64		4.49		7.37		9.54		10.49
Exchange Rate (Pesos per U.S. Dollars) (2)		15.3818		15.8502		15.2633		14.9200		14.5817
Rates
Badlar (quarterly averages) (3)		19.76		21.07		24.60		30.22		27.48
Credit Line for Investment Projects (established by regulations) (4)		17.00		17.00		22.00		22.00		22.00

(1) Variation within the quarter. Variation of IPC made using the IPC of the Autonomous City of Buenos Aires until the 2^nd quarter of 2016, alternatively supplied by the INDEC. Since the 3^rd quarter of 2016 corresponds to the new CPI published by INDEC.

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

(3) Private banks’ 30-day time deposits rate for amounts over Ps.1 million.

(4) From October 1 until October 31, 2016, the rate was 22%.

5

BANCO DE GALICIA Y BUENOS AIRES S.A.

HIGHLIGHTS

➣ Net income for the quarter amounted to Ps.1,480 million, Ps.334 million (29.1%) higher than in the same quarter of the 2016 fiscal year.

➣ The growth in results when compared to the first quarter of the 2016 fiscal year was mainly attributable to the 40.7% growth in net operating income,⁽¹⁾ due to the higher level of intermediation with the private sector, partially offset by the 87.2% increase in provisions for loan losses and by the 35.2% increase in administrative expenses, which was attributable to the higher level of activity and to the evolution of expenses.

➣ The credit exposure to the private sector reached Ps.165,738 million, up 37.9% during the last twelve months, and deposits reached Ps.158,875 million, up 46.8% during the same period. As of March 31, 2017, the Bank’s estimated market share of loans to the private sector was 10.33% while its estimated market share of deposits from the private sector was 10.24%.

➣ The non-accrual loan portfolio represented 3.40% of total loans to the private sector, representing an increase of 8 basis points (“bp”) from the 3.32% recorded at the end of the same quarter of the 2016 fiscal year, while its coverage with allowances for loan losses reached 100.12%, 8.19 percentage points lower than a year before.

➣ In the framework of the Credit Line for Production Financing and Financial Inclusion, as of March 31, 2017, 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.14,443 million.

➣ As of the end of the quarter, shareholders’ equity amounted to Ps.20,386 million, and the computable capital was Ps.23,454 million, representing a Ps.7,013 million (or 42.7%) excess over the capital requirement, and reaching a regulatory capital ratio of 11.68%.

INFORMATION DISCLOSURE

The data shown in the tables below and the consolidated financial statements correspond to Banco Galicia, 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 Galicia, 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.

^(*)  At the Extraordinary Shareholder’s Meeting of Banco Galicia Uruguay S.A. (in liquidation), held on April 30, 2016, the shareholders of Banco Galicia Uruguay S.A. decided to approve the Final Special Balance Sheet and to start the registration process in order to cancel the company’s legal status before the Uruguayan authorities.

(**) On March 31, 2017, Tarjetas del Mar S.A. was no longer consolidated by Banco Galicia due to its sale.

6

RESULTS FOR THE QUARTER

	In millions of pesos, except percentages
Table III Evolution of Consolidated Results	FY2017			FY2016						Variation (%)
	1st Q			4th Q			1st Q			1Q17 vs 4Q16			1Q17 vs 1Q16
Net Financial Income		4,800			4,897			3,589			(2.0	)		33.7
Net Income from Services		3,608			3,413			2,388			5.7			51.1
Provisions for Loan Losses		(1,157	)		(1,311	)		(618	)		(11.7	)		87.2
Administrative Expenses		(4,932	)		(4,860	)		(3,647	)		1.5			35.2
Operating Income		2,319			2,139			1,712			8.4			35.5
Net Other Income / (Loss)(*)		48			375			115			(87.2	)		(58.3	)
Income Tax		(887	)		(962	)		(681	)		(7.8	)		30.2
Net Income		1,480			1,552			1,146			(4.6	)		29.1

(*) Includes income from equity investments and minority interest results.

	Percentages
Table IV Profitability and Efficiency	FY2017		FY2016
	1st Q		4th Q		1st Q
Return on Average Assets (*)		2.76		3.17		2.97
Return on Average Shareholders’ Equity (*)		29.89		34.22		31.84
Financial Margin (*) (1)		11.85		13.23		10.93
Net Income from Services as a % of Operating Income (2)		42.91		41.07		39.95
Net Income from Services as a % of Administrative Expenses		73.15		70.23		65.48
Administrative Expenses as a % of Operating Income (2)		58.66		58.48		61.02

(*) 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 2017 fiscal year, the Bank recorded a Ps.1,480 million profit, Ps.334 million (29.1%) higher than the Ps.1,146 million profit recorded for the same quarter of the previous year.

The variation in net income was a consequence of the Ps.2,431 million increase in operating income, which was offset mainly by increases of Ps.1,285 million in administrative expenses, Ps.539 million in provisions for loan losses and Ps.206 million in income tax.

The operating income for the first quarter of the 2017 fiscal year totaled Ps.8,408 million, up 40.7% from the Ps.5,977 million recorded in the same quarter of the prior year. This positive development was due to both a higher net financial income (up Ps.1,211 million or 33.7%) and a higher net income from services (up Ps.1,220 million or 51.1%).

The net financial income for the quarter included a Ps.138 million gain from foreign-currency quotation differences (including the results from foreign-currency forward transactions), compared to a Ps.552 million profit in the first quarter of the previous fiscal year. The quarter’s profit was composed of a Ps.389 million gain from FX brokerage and of a Ps.251 million loss from the valuation of the foreign-currency net position and the results from foreign-currency forward transactions, compared to profits of Ps.261 million and Ps.291 million, respectively, in the first quarter of the 2016 fiscal year.

The quarter’s net financial income before foreign-currency quotation differences amounted to Ps.4,662 million, with a Ps.1,625 million (53.5%) increase as compared to the Ps.3,037 million income from the same quarter of the 2016 fiscal year, as a consequence of the increase in the portfolio of loans to the private sector together with a higher spread.

7

	Average balances in millions of pesos. Yields and rates in annualized nominal %
Table V Average Balances, Yield and Rates(*)	FY2017				FY2016
	1st Q				4th Q				3rd Q				2nd Q				1st Q
	Av. B.		Int.		Av. B.		Int.		Av. B.		Int.		Av. B.		Int.		Av. B.		Int.
Interest-Earning Assets		162,016		22.86		148,022		24.04		132,519		26.33		125,855		28.06		131,340		24.30
Government Securities		16,386		20.14		18,164		20.52		17,197		28.09		16,876		30.22		30,172		15.01
Loans		139,593		23.08		127,732		24.48		112,654		26.05		105,723		27.46		98,553		26.94
Financial Trusts Securities		452		23.88		532		22.82		614		14.97		635		51.89		665		35.03
Other Interest-Earning Assets		5,585		25.14		1,594		29.35		2,054		29.89		2,621		32.92		1,950		31.10
Interest-Bearing Liabilities		128,575		12.03		109,386		13.58		104,004		16.44		95,705		19.58		95,037		18.14
Saving Accounts		42,086		0.10		34,496		0.09		29,190		0.13		24,249		0.25		22,011		0.19
Time Deposits		59,341		18.38		52,338		20.68		53,492		24.31		54,115		27.27		55,998		24.97
Debt Securities		17,131		11.88		16,761		16.87		16,777		18.19		13,845		20.60		13,238		18.22
Other Interest-Bearing Liabilities		10,017		24.86		5,791		20.35		4,545		22.09		3,496		30.77		3,790		21.24

(*) 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.30,676 million (23.4%) as compared to the first quarter of the previous fiscal year, primarily as a consequence of the Ps.41,040 million increase in the average portfolio of loans to the private sector (41.6%). Interest-bearing liabilities increased Ps.33,538 million (35.3%) during the same period, mainly due to the increase of the average balances of saving deposits (91.2%), primarily resulting from the Tax Amnesty Law.

The average yield on interest-earning assets for the first quarter of the 2017 fiscal year was 22.86%, representing a 144 bp decrease compared to the same quarter of the prior year, mainly due to a 386 bp decrease in interest rates on loans. Likewise, the average cost of interest-bearing liabilities was 12.03%, representing a 611 bp decrease compared to the first quarter of the prior year, mainly due to the decrease in the average interest rate on time deposits, for 659 bp, and on debt securities, for 634 bp.

	In millions of pesos
Table VI Income from Services, Net	FY2017			FY2016
	1st Q			4th Q			3rd Q			2nd Q			1st Q
National Cards		1,370			1,337			1,181			1,093			932
Regional Credit Cards		1,808			1,838			1,626			1,426			1,313
CFA		105			103			97			88			80
Deposit Accounts		804			706			683			599			594
Insurance		155			153			149			147			125
Financial Fees		39			37			45			35			38
Credit-Related Fees		132			145			86			86			57
Foreign Trade		106			92			102			85			78
Collections		113			101			101			91			61
Utility-Bills Collection Services		82			75			66			56			49
Mutual Funds		26			22			17			11			9
Other		251			253			208			177			164
Total Income		4,991			4,862			4,361			3,894			3,500
Total Expenditures		(1,383	)		(1,449	)		(1,290	)		(1,223	)		(1,112	)
Income from Services, Net		3,608			3,413			3,071			2,671			2,388

Net income from services amounted to Ps.3,608 million, up 51.1% from the Ps.2,388 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 (41.6%), to credit (131.6%) and to deposit accounts (35.4%).

8

Provisions for loan losses for the first quarter of the 2017 fiscal year amounted to Ps.1,157 million, Ps.539 million higher than those recorded in the same quarter of the prior year, due to the evolution of credits in arrears of the consumer portfolio and to higher regulatory provisions on the portfolio in normal situations as a consequence of the increase in the volume of credit.

Administrative expenses for the quarter totaled Ps.4,932 million, up 35.2% from the same quarter of the previous year. Personnel expenses amounted to Ps.2,757 million, growing 36.9%, mainly as a consequence of salary increase agreements with the unions, a provision related to certain compensations and to non-recurring human resources expenses. The remaining administrative expenses amounted to Ps.2,175 million, with a Ps.542 million (33.2%) increase as compared to the Ps.1,633 million from the first quarter of the 2016 fiscal year, mainly due to increases in cash transportation, electricity and communications, security services, maintenance and taxes, which resulted from the increase in the level of activity and of expenses related to services provided to the Bank.

Net other income for the quarter amounted to Ps.48 million, with a decrease of Ps.67 million as compared to the same quarter of the prior year.

The income tax charge was Ps.887 million, Ps.206 million higher than in the first quarter of the 2016 fiscal year.

LEVEL OF ACTIVITY

	In millions of pesos
Table VII Exposure to the Private Sector	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Loans		151,604		142,158		123,219		113,362		107,087
Financial Leases		987		972		865		848		904
Corporate Securities		658		1,220		815		1,258		1,497
Other Financing (*)		12,489		13,045		11,567		11,660		10,681
Total Credit		165,738		157,395		136,466		127,128		120,169

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

As of March 31, 2017, the Bank’s total exposure to the private sector reached Ps.165,738 million, representing an increase of 37.9% from a year before and 5.3% during the quarter.

Total loans include Ps.29,444 million corresponding to the regional credit card companies, which represented a 30.2% increase during the last twelve months and a 1.9% increase during the quarter.(*) Total laons also include Ps.6,081 million from CFA, which increased 61.7% during year and 15.1% during the quarter.

	Percentages
Table VIII Market Share (*)	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Total Loans		10.18		9.79		9.16		8.90		9.07
Loans to the Private Sector		10.33		10.12		9.73		9.53		9.73

(*) 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.

^(*)  For comparative purposes loans granted by Tarjetas del Mar S.A. were not considered.

9

The Bank’s market share of loans to the private sector as of March 31, 2017, without considering those granted by the regional credit card companies, was 10.33%, compared to 10.12% from December 31, 2016, and to 9.73% from March 31, 2016.

	In millions of pesos
Table IX Loans by Type of Borrower	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Large Corporations		24,641		22,434		21,023		16,483		15,745
SMEs		37,128		34,411		28,115		28,682		28,027
Individuals		84,773		81,978		71,327		66,195		61,438
Financial Sector		5,062		3,335		2,754		2,002		1,877
Total Loans		151,604		142,158		123,219		113,362		107,087
Allowances		5,166		4,707		4,265		4,021		3,847
Total Loans, Net		146,438		137,451		118,954		109,341		103,240

	In millions of pesos
Table X Loans by Sector of Activity	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Financial Sector		5,062		3,335		2,754		2,002		1,877
Services		7,884		8,593		6,159		6,021		5,971
Agriculture and Livestock		13,536		11,921		8,424		9,642		10,635
Consumer		84,557		82,730		71,907		66,860		62,149
Retail and Wholesale Trade		13,437		13,140		11,168		10,133		9,512
Construction		1,375		1,177		1,105		1,046		1,033
Manufacturing		22,678		19,452		19,701		16,833		14,405
Other		3,075		1,810		2,001		825		1,505
Total Loans		151,604		142,158		123,219		113,362		107,087
Allowances		5,166		4,707		4,265		4,021		3,847
Total Loans, Net		146,438		137,451		118,954		109,341		103,240

During the year, loans to the private sector registered growth in those granted to individuals (38.0%), SMEs (32.5%) and to large corporations (56.5%). By sector of activity, higher growth was recorded in the consumer sector (36.1%), the manufacturing sector (57.4%) and the retail and wholesale trade sector (41.3%).

	In millions of pesos
Table XI Exposure to the Argentine Public Sector (*)	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Government Securities’ Net Position		19,539		15,320		17,795		15,825		28,997
Lebac / Nobac		13,174		10,241		12,095		11,752		25,104
Other		6,365		5,079		5,700		4,073		3,893
Other Receivables Resulting from Financial Brokerage		653		833		769		873		943
Trust Certificates of Participation and Securities		428		515		592		671		684
Other		225		318		177		202		259
Total Exposure		20,192		16,153		18,564		16,698		29,940

(*) 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, 2017, the Bank’s exposure to the public sector amounted to Ps.20,192 million, representing a 32.6 % decrease during the last twelve months due to a lower holding of Lebac. Excluding debt securities issued by the Argentine Central Bank, said exposure reached Ps.7,018 million (2.8% of total assets), while as of March 31, 2016, it amounted to Ps.4,836 million (2.7% of total assets).

10

	In millions of pesos
Table XII Deposits (*)	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
In Pesos		109,702		100,980		93,758		97,117		88,990
Current Accounts		27,461		28,136		24,256		24,252		20,685
Saving Accounts		22,791		26,639		20,476		20,434		16,880
Time Deposits		56,975		43,781		47,052		50,444		49,515
Other		2,475		2,424		1,974		1,987		1,910
In Foreign Currency		49,173		51,067		24,029		21,193		19,201
Total Deposits		158,875		152,047		117,787		118,310		108,191

(*) 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, 2017, the Bank’s deposits amounted to Ps.158,875 million, representing a 46.8% increase during the last twelve months, as a consequence of the 23.3% increase in peso-denominated deposits and of the 156.1% increase in dollar-denominated deposits, mainly due to the Tax Amnesty Law. During the quarter the increase was of 4.5%, with a growth of 8.6% for peso-denominated deposits and a decrease of 3.7% for dollar-denominated deposits, due to a higher balance of time deposits, which grew Ps.13,194 million (30.1%), partially offset by a Ps.4,523 (8.3%) decrease in transactional deposits (current accounts and saving accounts) influenced by the high base of comparison from the last quarter of 2016.

	Percentages
Table XIII Market Share (*)	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Total Deposits		7.70		7.95		7.62		7.86		7.73
Private Sector Deposits		10.24		9.96		9.26		9.60		9.37

(*) 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.

As of March 31, 2017, the Bank’s estimated market share of private sector deposits in the Argentine financial system was 10.24%, compared to 9.96% from the prior quarter and to 9.37% from a year before.

	In millions of pesos
Table XIV Other Financial Liabilities	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Domestic Financial Institutions and Credit Entities		4,818		4,095		2,534		2,362		2,176
Foreign Financial Institutions and Credit Entities		2,195		2,213		2,039		1,885		1,423
Notes(*)		18,025		17,339		16,589		15,304		13,737
Obligations in Connection with Spot Transactions Pending Settlement and Repurchase Agreement Transactions		13,727		8,555		10,024		16,489		9,303
Obligations in Connection with Debts with Merchants due to Credit-Card Activities		18,623		20,813		16,693		15,392		15,223
Other		9,063		9,432		7,030		6,763		8,470
Total		66,451		62,447		54,909		58,195		50,332

(*) Includes subordinated notes.

As of March 31, 2017, other financial liabilities amounted to Ps.66,451 million, Ps.16,119 million (or 32.0%) higher than the Ps.50,332 million recorded a year before. This growth was mainly due to the increase of (i) spot transactions pending settlement and repurchase agreement transactions of government securities, for Ps.4,424 million; (ii) issuance of notes, for Ps.4,288, related to transactions of

11

Banco Galicia and Tarjetas Cuyanas S.A.; and (iii) financing from merchants in connection with credit card activities, for Ps.3,400 million.

As of March 31, 2017, the Bank had 4.1 million deposit accounts, which represent an increase of approximately 448,000 accounts as compared with the same date of the previous year. Likewise, the number of credit cards reached 13.7 million, 149,000 less than those managed a year before, mainly due to the sale of Tarjets del Mar S.A., which managed 426,000 credit cards as of the end of March 2016.

ASSET QUALITY

	In millions of pesos, except percentages
Table XV Loan Portfolio Quality	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Non-Accrual Loans (*)		5,160		4,704		4,235		3,894		3,552
With Preferred Guarantees		93		96		106		116		99
With Other Guarantees		99		88		68		84		116
Without Guarantees		4,968		4,520		4,061		3,694		3,337
Allowance for Loan Losses		5,166		4,707		4,265		4,021		3,847
Non-Accrual Loans to Private-Sector Loans (%)		3.40		3.31		3.44		3.44		3.32
Allowance for Loan Losses to Private-Sector Loans (%)		3.41		3.31		3.46		3.55		3.59
Allowance for Loan Losses to Non-Accrual Loans (%)		100.12		100.06		100.71		103.26		108.31
Non-Accrual Loans with Guarantees to Non-Accrual Loans (%)		3.72		3.91		4.11		5.14		6.05

(*) 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.

The Bank’s non-accrual loan portfolio amounted to Ps.5,160 million as of March 31, 2017, representing 3.4% of total loans to the private-sector, increasing 8 bp from the 3.32% ratio of a year before.

The coverage of the non-accrual loan portfolio with allowances for loan losses reached 100.12% as of March 31, 2017, compared to 108.31% 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 3.14% of total credit to the private-sector, and its coverage with allowances for loan losses reached 100.79%, compared to 2.99% and 109.63% of a year before, respectively.

On an individual basis Banco Galicia’s non-accrual loan portfolio amounted to Ps.2,164 million as of March 31, 2017, increasing 42.6% during the last twelve months, representing 1.85% of total loans to the private-sector, compared to the 1.90% ratio recorded a year before. The coverage with allowances for loan losses reached 123.28%.

12

	In millions of pesos
Table XVI Consolidated Analysis of Loan Loss Experience	FY2017			FY2016
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Allowance for Loan Losses at the Beginning of the Quarter		4,707			4,265			4,021			3,847			3,560
Changes in the Allowance for Loan Losses
Provisions Charged to Income		1,082			1,249			844			702			593
Provisions Reversed		—			(54	)		(45	)		(18	)		—
Charge Offs		(623	)		(753	)		(555	)		(510	)		(306	)
Allowance for Loan Losses at Quarter End		5,166			4,707			4,265			4,021			3,847
Charge to the Income Statement
Provisions Charged to Income		(1,082	)		(1,249	)		(844	)		(702	)		(593	)
Direct Charge Offs		(69	)		(50	)		(33	)		(24	)		(18	)
Bad Debts Recovered		88			143			111			85			56
Provisions Reversed (*)		—			54			45			18			—
Net Charge to the Income Statement		(1,063	)		(1,102	)		(721	)		(623	)		(555	)

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

During the quarter, Ps.623 million was charged off against the allowance for loan losses and direct charges to the income statement for Ps.69 million were made.

	In millions of pesos, except ratios
Table XVII Consolidated Regulatory Capital	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Minimum Capital Required (A)		16,441		15,258		13,386		12,053		12,457
Allocated to Credit Risk		12,407		11,511		10,036		9,036		9,397
Allocated to Market Risk		624		556		398		259		477
Allocated to Operational Risk		3,410		3,191		2,952		2,758		2,583
Computable Capital (B)		23,454		22,010		20,343		16,144		14,500
Tier I		17,932		16,471		15,213		14,092		12,510
Tier II		5,522		5,539		5,130		2,052		1,990
Excess over Required Capital (B)—(A)		7,013		6,752		6,957		4,091		2,043
Regulatory Ratio (%)		11.68		11.82		12.45		10.98		9.52

As of March 31, 2017, the Bank’s consolidated computable capital was Ps.7,013 million (42.7%) higher than the Ps.16,441 million capital requirement. As of March 31, 2016, this excess amounted to Ps.2,043 million or 16.4%.

The minimum capital requirement increased Ps.3,984 million as compared to March 31, 2016, mainly as a result of higher requirements of (i) Ps.3,010 million due to the growth of the private-sector loan portfolio; and (ii) Ps.827 million on operational risk.

Computable capital increased Ps.8,954 million as compared to March 31, 2016, mainly as a consequence of a higher Tier I capital, for Ps.5,422 million, mainly due to the higher net income, partially offset by higher deductions, resulting from organization and development expenses. Tier II capital recorded a Ps.3,532 million increase, mainly due to (i) 100% of the subordinated notes issued on July 19, 2016, for US $250 million, which proceeds were used to cancel in advance the subordinated notes due in 2019, of which 24% was considered as computable capital; and (ii) the higher balance of the provision for loan losses on the credit portfolio in normal situation.

13

	Percentages
Table XVIII Liquidity (unconsolidated)	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Liquid Assets (*) as a percentage of Transactional Deposits		80.03		71.79		78.23		92.09		91.72
Liquid Assets (*) as a percentage of Total Deposits		47.48		47.18		41.21		46.48		42.32

(*) 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, 2017, the Bank’s liquid assets represented 80.03% of the Bank’s transactional deposits and 47.48% of its total deposits, as compared to 91.72% and 42.32%, respectively, as of March 31, 2016.

14

BANCO DE GALICIA Y BUENOS AIRES S.A.

SELECTED FINANCIAL INFORMATION—CONSOLIDATED DATA ^(*)

	In millions of pesos
	FY2017		FY2016
	1st Q		4th Q		3rd Q		2nd Q		1st Q
Cash and Due from Banks		50,205		61,132		28,289		28,427		19,891
Government and Corporate Securities		24,423		12,548		22,266		28,764		29,348
Net Loans		146,438		137,451		118,954		109,341		103,240
Other Receivables Resulting from Financial Brokerage		20,669		18,470		16,835		22,148		16,837
Equity Investments in Other Companies		187		181		164		177		150
Bank Premises and Equipment, Miscellaneous and Intangible Assets		6,976		6,571		6,014		5,510		5,051
Other Assets		4,402		3,705		3,447		3,744		4,641
Total Assets		253,300		240,058		195,969		198,111		179,158
Deposits		158,685		151,727		117,511		118,226		108,008
Other Liabilities Resulting from Financial Brokerage		62,586		58,382		51,072		54,314		46,679
Subordinated Notes		3,865		4,065		3,837		3,881		3,653
Other		6,328		5,628		4,961		4,427		4,702
Minority Interests		1,450		1,350		1,234		1,152		1,158
Total Liabilities		232,914		221,152		178,615		182,000		164,200
Shareholders’ Equity		20,386		18,906		17,354		16,111		14,958
Foreign-Currency Assets and Liabilities
Assets		63,491		66,729		35,052		33,607		28,853
Liabilities		65,978		68,544		38,370		34,789		32,775
Net Forward Purchases/(Sales) of Foreign Currency (1)		2,744		4,097		4,806		2,785		3,639

(*) 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
	FY2017			FY2016
	1st Q			4th Q			3rd Q			2nd Q			1st Q
Financial Income		9,901			9,391			9,123			9,003			8,694
Interest on Loans to the Financial Sector		115			106			104			85			64
Interest on Overdrafts		655			803			809			776			701
Interest on Promissory Notes		1,407			1,369			1,398			1,619			1,657
Interest on Mortgage Loans		82			97			121			133			123
Interest on Pledge Loans		22			22			21			22			23
Interest on Credit-Card Loans		3,823			3,715			3,440			3,351			2,950
Interest on Financial Leases		68			70			70			75			75
Interest on Other Loans		1,863			1,629			1,363			1,216			1,081
Net Income from Government and Corporate Securities		999			1,147			1,430			1,582			1,343
Interest on Other Receivables Resulting from Financial Brokerage		4			8			5			5			12
Net Income from Secured Loans—Decree No.1387/01		2			—			—			—			—
CER Adjustment		10			6			—			—			—
Other		379			118			163			(19	)		326
Quotation Differences on Gold and Foreign Currency		472			301			199			158			339
Financial Expenses		(5,101	)		(4,494	)		(5,169	)		(5,377	)		(5,105	)
Interest on Saving Accounts Deposits		(2	)		(2	)		(1	)		(1	)		(1	)
Interest on Time Deposits		(2,694	)		(2,689	)		(3,244	)		(3,671	)		(3,468	)
Interest on Subordinated Obligations		(80	)		(82	)		(152	)		(148	)		(151	)
Other Interest		(36	)		(15	)		(11	)		(20	)		(12	)
Interest on Interbank Loans Received (Call Money Loans)		(14	)		(6	)		(4	)		(11	)		(15	)
Interest on Other Financing from Financial Entities		(121	)		(69	)		(51	)		(38	)		(29	)
Net Losses from Options		(1	)		(5	)		(2	)		(3	)		(19	)
Interest on Other Liabilities Resulting from Financial Brokerage		(813	)		(801	)		(796	)		(758	)		(601	)
Contributions to the Deposit Insurance Fund		(65	)		(51	)		(50	)		(50	)		(163	)
CER Adjustment		(4	)		(4	)		(2	)		(1	)		—
Other		(1,271	)		(770	)		(856	)		(676	)		(646	)
Gross Financial Margin		4,800			4,897			3,954			3,626			3,589
Provisions for Loan Losses		(1,157	)		(1,311	)		(881	)		(723	)		(618	)
Income from Services, Net		3,608			3,413			3,071			2,671			2,388
Administrative Expenses		(4,932	)		(4,860	)		(4,385	)		(4,082	)		(3,647	)
Personnel Expenses		(2,757	)		(2,692	)		(2,383	)		(2,270	)		(2,014	)
Directors’ and Syndics’ Fees		(19	)		(10	)		(14	)		(14	)		(15	)
Other Fees		(111	)		(161	)		(123	)		(105	)		(83	)
Advertising and Publicity		(156	)		(183	)		(218	)		(200	)		(141	)
Taxes		(490	)		(454	)		(416	)		(391	)		(359	)
Depreciation of Premises and Equipment		(91	)		(85	)		(75	)		(66	)		(60	)
Amortization of Organization Expenses		(164	)		(181	)		(183	)		(187	)		(187	)
Other Operating Expenses		(634	)		(563	)		(556	)		(489	)		(458	)
Other		(510	)		(531	)		(417	)		(360	)		(330	)
Minority Interest Results		(156	)		(115	)		(84	)		(52	)		(99	)
Income from Equity Investments		23			19			31			103			27
Net Other Income / (Loss)		181			471			350			275			187
Income Tax		(887	)		(962	)		(813	)		(665	)		(681	)
Net Income / (Loss)		1,480			1,552			1,243			1,153			1,146

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

16

CONSUMER FINANCE BUSINESS – ADDITIONAL 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	FY2017			FY2016						Variation (%)
	1st Q			4th Q			1st Q			1Q17 vs 4Q16			1Q17 vs 1Q16
Total Assets		29,984			30,847			23,573			(2.8	)		27.2
Cash and Due from Banks		454			461			326			(1.5	)		39.3
Loans		27,186			26,914			21,316			1.0			27.5
Total Liabilities		23,817			25,347			18,861			(6.0	)		26.3
Notes		6,123			7,157			4,526			(14.4	)		35.3
Financial Entities		2,757			2,379			1,851			15.9			48.9
Merchants		12,377			13,307			10,523			(7.0	)		17.6
Shareholders’ Equity		6,167			5,500			4,712			12.1			30.9
Net Income		667			456			429			46.3			55.5
Net Financial Income		1,370			1,233			863			11.1			58.7
Net Income from Services		1,559			1,516			1,094			2.8			42.5
Provisions for Loan Losses		(509	)		(551	)		(255	)		(7.6	)		99.6
Administrative Expenses		(1,520	)		(1,560	)		(1,130	)		(2.6	)		34.5
Loan Portfolio Quality											Variation (b.p.)
Non-Accrual Loans to Total Loans (%)		7.69			7.08			6.11			61			158
Allowance for Loan Losses to Total Loans (%)		7.67			6.89			5.76			78			191
Allowance for Loan Losses to Non-Accrual Loans (%)		99.69			97.41			94.28			228			541

	Percentages
Table XX	FY2017		FY2016
Profitability and Efficiency	1st Q		4th Q		1st Q
Return on Average Assets (*)		9.14		6.59		7.79
Return on Average Shareholders’ Equity (*)		46.16		34.54		37.86
Financial Margin (*) (1)		18.83		17.92		16.12
Net Income from Services as a % of Operating Income (2)		53.23		55.15		55.90
Net Income from Services as a % of Administrative Expenses		102.57		97.18		96.81
Administrative Expenses as a % of Operating Income (2)		51.89		56.75		57.74

(*) 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 Selected Information	FY2017			FY2016						Variation (%)
	1st Q			4th Q			1st Q			1Q17 vs 4Q16			1Q17 vs 1Q16
Total Assets		6,399			5,894			4,229			8.6			51.3
Cash and Due from Banks		274			395			180			(30.6	)		52.2
Loans		5,635			4,916			3,273			14.6			72.2
Total Liabilities		5,353			4,678			2,926			14.4			82.9
Deposits		1,939			1,413			922			37.2			110.3
Notes		1,064			1,207			1,032			(11.8	)		3.1
Financial Entities		1,351			1,251			256			8.0			427.7
Shareholders’ Equity		1,046			1,216			1,303			(14.0	)		(19.7	)
Net Income		81			112			53			(27.7	)		52.8
Net Financial Income		487			447			319			8.9			52.7
Net Income from Services		70			65			54			7.7			29.6
Provisions for Loan Losses		(118	)		(123	)		(72	)		(4.1	)		63.9
Administrative Expenses		(339	)		(346	)		(244	)		(2.0	)		38.9
Loan Portfolio Quality											Variation (b.p.)
Non-Accrual Loans to Total Loans (%)		12.02			11.80			14.54			22			(252	)
Allowance for Loan Losses to Total Loans (%)		7.32			6.91			12.98			41			(566	)
Allowance for Loan Losses to Non-Accrual Loans (%)		60.88			58.59			89.21			229			(2,833	)

	Percentages
Table XXII	FY2017		FY2016
Profitability and Efficiency	1st Q		4th Q		1st Q
Return on Average Assets (*)		5.29		8.13		5.53
Return on Average Shareholders’ Equity (*)		25.41		37.49		16.52
Financial Margin (*) (1)		35.28		36.06		34.73
Net Income from Services as a % of Operating Income (2)		12.57		12.70		14.48
Net Income from Services as a % of Administrative Expenses		20.65		18.79		22.13
Administrative Expenses as a % of Operating Income (2)		60.86		67.58		65.42

(*) 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.

18

SUDAMERICANA HOLDING S.A.

INFORMATION DISCLOSURE

The data shown in the tables of this report and the consolidated financial statements correspond 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 THAT QUARTER THAT ENDED ON MARCH 31, 2017

	In millions of pesos, except percentages
Table XXIII	Quarters ended:									Variation (%)
Selected Information	03/31/17			12/31/16			03/31/16			Quarter			Annual
Assets		2,250			2,217			1,816			1.5			23.9
Premiums Receivable		479			512			446			(6.4	)		7.4
Reinsurance Recoverables		4			3			2			33.3			100.0
Liabilities		1,125			1,198			982			(6.1	)		14.6
Debt with Insureds		221			214			175			3.3			26.3
Debt with Reinsurers		4			(1	)		4			500.0			—
Debt with Agents and Brokers		133			147			105			(9.5	)		26.7
Insurance Contract Liabilities		314			303			245			3.6			28.2
Shareholders’ Equity		1,125			1,019			834			10.4			34.9
Net Income		106			112			189			(5.4	)		(43.9	)
Earned Premiums		748			823			781			(9.1	)		(4.2	)
Incurred Claims		(93	)		(138	)		(103	)		(32.6	)		(9.7	)
Net Investment Income		62			72			59			(13.9	)		5.1
Commissions and Other		(255	)		(236	)		(167	)		8.1			52.7
Operating Expenses		(271	)		(276	)		(212	)		(1.8	)		27.8
Annualized Sales		336			311			216			8.0			55.6

	Percentages
Table XXIV	Quarters ended:
Profitability	03/31/17		12/31/16		03/31/16
Return on Average Assets (*)		18.98		20.23		45.40
Return on Average Shareholders’ Equity (*)		38.89		45.31		97.04

(*) Annualized.

19

GALICIA ADMINISTRADORA DE FONDOS S.A.

RESULTS FOR THE QUARTER

	In millions of pesos, except percentages
	FY2017			FY2016						Variation (%)
Table XXV: Selected Information	1st Q			4th Q			1st Q			1Q17 vs 4Q16			1Q17 vs 1Q16
Shareholders’ Equity		99			207			41			(52.2	)		141.5
Net Income		89			69			32			29.0			178.1
Fees and Commissions		148			122			49			21.3			202.0
Administrative Expenses		(15	)		(19	)		(9	)		(21.1	)		66.7
Commercial Expenses		(8	)		(8	)		(3	)		—			166.7

	In millions of pesos, except percentages
Table XXVI:	Assets Under Management as of:				Variation
Mutual Funds	03/31/17		03/31/16		Ps.			%
Fima Premium		7,182		4,295		2,887			67.2
Fima Ahorro Pesos		17,335		5,546		11,789			212.6
Fima Ahorro Plus		23,004		5,373		17,631			328.1
Fima Capital Plus		551		1,301		(750	)		(57.6	)
Fima Renta en Pesos		457		107		350			327.1
Fima Renta Plus		474		141		333			236.2
Fima Abierto Pymes		207		220		(13	)		(5.9	)
Fima Acciones		177		81		96			118.5
Fima PB Acciones		527		265		262			98.9
Fima Mix I		121		—		121			100.0
Fima Renta Dólares I		5,765		—		5,765			100.0
Fima Renta Dólares II		1,082		—		1,082			100.0
Total Assets Under Management		56,882		17,329		39,553			228.2

20

RECENT DEVELOPMENTS

BANCO GALICIA

PLAZA GALICIA

With an investment of more than US $130 million, on March 29, Banco Galicia inaugurated its first building entirely designed under sustainability standards, with 30% of the building structure dedicated to green spaces, located in the Chacarita neighborhood, in the City of Buenos Aires.

TARJETAS DEL MAR

On March 30, Banco Galicia sold all its interests in Tarjetas del Mar SA, which represented 58.8% of the capital stock of said company, to Sociedad Anónima Importadora y Exportadora de la Patagonia S.A. In addition, Compañía Financiera Argentina sold its interests in Tarjetas del Mar SA, which represented 1.2% of its capital to Mr. Federico Braun.

The overall price of the transaction amounted to US $5 million and did not have a significant impact on the Bank’s equity.

AGUAS CORDOBESAS DEL MAR

After the end of the quarter, the Bank accepted an offer to purchase all of its interests in Aguas Cordobesas S.A., which represented 10.833% of the capital stock of said company.

The offer comprises 3,250,000 class “E” shares, 2,350,000 of which are freely transferable and the remaining 900,000 of which are subject to the prior consent of the Province of Córdoba, as the Grantor of the services provided by the company.

The price of the transaction amounted to Ps.48 million, which was paid by an initial payment of Ps.38.3 million with the balance of Ps.9.7 million to be paid once the requisite consent has been obtained from Province of Córdoba as the Grantor of the services provided by the company.

NOTES

On April 5, 2017, the Board of Directors of Banco Galicia approved the issuance of Class IV Notes under the framework of the Global Program for the issuance of short-, medium- and/or long term notes. On May 8, 2017, the CNV authorized its issuance for up to US $150 million, which could be increased up to US $300 million, with a maturity of 36 months from the date of issuance and settlement. The Class IV Notes will accrue interest at a floating rate equivalent to the simple arithmetic average of the private Badlar rate plus a spread, which will be paid quarterly.

IFRS REGULATIONS

Beginning with the financial statements corresponding to the first quarter of the 2017 fiscal year, the adjustments corresponding to the application of IFRS are reported as a note to the balance sheet. IFRS will be fully applied as of the 2018 fiscal year. As of March 31, 2017, the adjustment to Banco Galicia’s net worth as a result of the application of these standards amounted to Ps.3,260 million, reaching an adjusted net worth of Ps.23,646 million. For Grupo Financiero Galicia, the adjustment amounted to Ps.2,942 million and the adjusted balance to Ps.24,895 million. These figures are subject to changes and may only be considered definitive when preparing the annual financial statements for the year in which IFRS are applied for the first time.

21

REGULATORY CHANGES

NET GLOBAL POSITION IN FOREIGN CURRENCY

Through its Communiqué “A” 6237, dated May 4, the Argentine Central Bank provided that entities authorized to trade in the FX market may freely determine the level and use of their general foreign currency net position.

MINIMUM CASH REQUIREMENTS

Through its Communiqué “A” 6195, dated March 2, the Argentine Central Bank reduced by two percentage points those coefficients higher than 2% in order to determine the minimum cash requirement in pesos.

CREDIT AND DEBIT CARD FEES

Through a private agreement between the Chambers of Commerce, banks and acquiring companies, fees on credit and debit cards were voluntary reduced as of April 1. The fee for credit cards was reduced from 3% to 2.5% for 2017, and will gradually decrease each year to 2.35%, 2.15%, 2%, reaching 1.8% in 2021. Fees on debit card transactions were reduced from 1.5% to 1.2% for 2017, and then they will be decreased to 1.1%, 1.0%, 0.9%, reaching 0.8% in 2021.

Simultaneously, the Argentine Central Bank, through its Communiqué “A” 6212, established, as of April 1, a cap on the interchange fee of 2% and 1% for credit and debit cards, respectively, with a gradual decrease schedule for the upcoming years.

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 ArgentineNational 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.

22