2 3 4 The Argentine financial system remains healthy with - PowerPoint PPT Presentation

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The Argentine financial system remains healthy with deposits experiencing usual seasonality. This was despite the 31% depreciation of the peso year-to-date, and is extremely liquid with a significantly low currency mismatch of 7.4% in terms of regulatory capital; the lowest level over the past 10 years. 5

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1Q18 YoY Growth 62.1% 26.8% 133.6% 30.2% -50.6% 10

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18% 16% 14% 12% 10% 8% 6% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 2016 2017 2018 14% 12% 10% 8% 6% 4% 2% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 2016 2017 2018 13

*Efficiency: Personnel, Administrative expenses and Depreciation & Amortization divided by the sum of Net interest income + Net income from financial instruments at fair value through profit or loss + Exchange rate differences on gold and foreign currency, net services fee income, income from insurance activities and other net operating income. 14

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