Grupo Financiero Galicia's Management Discusses Q1 2012 Results - Earnings Call Transcript

Grupo Financiero Galicia S.A. (GGAL)

Q1 2012 Earnings Call

May 11, 2012 11:00 am ET

Executives

Pablo Firvida – Head-Investor Relations

Analysts

Nicolas Chialva – Itaú BBA

Federico Rey Marino – Raymond James

Presentation

Operator

Good day and welcome to the Grupo Financiero Galicia First Quarter Earnings Release Conference Call. As a reminder, today’s call is being recorded. At this time, I would like to turn the conference over to Pablo Firvida. Please go ahead, sir.

Pablo Firvida

Thank you. Good morning, ladies and gentlemen. Welcome to the Grupo Financiero Galicia first quarter of fiscal year 2012 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 Bank’s performance during the quarter then we will take your questions.

Some of the statements made during this conference call will be forward looking statements within the meaning of the safe harbor provisions of the US Federal Securities laws. These forward looking statements are subject to risk and uncertainty that could cause actual results to differ materially from those expressed in the forward looking statements.

During the first quarter, international and financial markets continue to exhibit a significant reduction in volatile, mainly explained by the more active role of the European Central Bank, providing liquidity to the financial sector. During this period, financial assets showed a very strong upward trend.