Good competitive position in Argentina's financial system; and Diversified deposit base from its solid franchise. Relatively lower levels of Tier 1 capital compared to industry average; Lack of long-term funding in the financial system; and Risky and volatile economic conditions for banks operating in Argentina. The stable outlook on Banco Galicia for the next 12 months mirrors the one on the sovereign, given that the latter limits the ratings of the bank. Additionally, we expect Banco Galicia to maintain its competitive position as one of the largest banks in the Argentine financial system and manageable asset quality metrics, although we expect them to slightly worsen because of the country's challenging economic scenario. We could lower the ratings on Banco Galicia
