Federico Rey's questions to GRUPO FINANCIERO GALICIA (GGAL) leadership • Q1 2015
Question
Federico Rey from Raymond James inquired about the recent acceleration in loan growth, asking whether it stemmed from increased demand or a more aggressive strategy by Grupo Financiero Galicia.
Answer
Pablo Firvida, Head of Investor Relations, explained that the growth is due to several factors. He noted that inflation has driven up financing through credit cards for individuals, and the bank must also comply with a productive lending line mandated by the Central Bank. Firvida clarified that the bank does not anticipate a strong year for loan growth, forecasting a full-year 2015 increase of around 25%, which aligns with the inflation forecast, suggesting no significant real growth.