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Grupo Financiero Galicia CEO Discusses Q4 2010 Results - Earnings Call Transcript

Grupo Financiero Galicia S.A. ( GGAL)

Q4 2010 Earnings Call

February 17, 2011 11:00 AM ET

Executives

Pablo Firvida – VP, IR

Analysts

Saul Martinez – JP Morgan

Tito Labarta – Deutsche Bank

Boris Molina – Santander

Arthur Bryan (ph) – Deltec (ph)

Denis Parisien – Deutsche Bank

Federico Rey -Raymond James

Federico Rey – Raymond James

Presentation

Operator

Welcome to the Grupo Financiero Galicia’s Fourth Quarter 2010 Conference Call. This call is being recorded.

At this time I would like to turn the call over to Mr. Pablo Firvida. Please go ahead, sir.

Pablo Firvida

Thank you. Good morning ladies and gentlemen. Welcome to the Grupo Financiero Galicia fourth quarter fiscal year 2010 conference call. I am Pablo Firvida, Head of Investor Relations. With me today are some members of the management of the Bank and Grupo. We want to thank you for attending this call. I will make a short introduction in order to explain the operating conditions under which the reported results have occurred and summarize the advanced performance during the quarter. Then we will take your questions.

Some of the statements made during this conference call would be forward-looking statements within the meaning of the Safe Harbor Provisions of the U.S. Federal and Securities Laws. This forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.

During the fourth quarter of 2010, the Argentine economy performed under the influence of a positive international scenario. High liquidity levels and the weakness of the U.S. dollar, foster the flow of capitals, the emerging economies in search of higher returns. Thus allowing the maintenance of the good performance of Argentine financial assets recorded in the prior quarters.

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