Summary: Banco de Galicia y Buenos Aires S.A.

Good competitive position in Argentina's financial system; and Adequate funding profile due to its good franchise. Weak capitalization levels; and Relatively risky conditions for a bank operating in Argentina. S&P Global Ratings' stable outlook on Banco Galicia mirrors that on the sovereign, because the ratings on the bank continue to be limited by those on Argentina. The sovereign rating reflects our expectation for broad policy continuity in the next two years. It also incorporates uncertainties on the pace of implementation of the government's corrective economic plan given ongoing political challenges. We also expect the government to gradually achieve its fiscal and inflation targets. We could raise the ratings on the bank in the next 12 months if we raise the

...Outlook: Stable S&P Global Ratings' stable outlook on Banco Galicia mirrors that on the sovereign, because the ratings on the bank continue to be limited by those on Argentina. The sovereign rating reflects our expectation for broad policy continuity in the next two years. It also incorporates uncertainties on the pace of implementation of the government's corrective economic plan given ongoing political challenges. We also expect the government to gradually achieve its fiscal and inflation targets....

Summary