As stated above under "Presentation of Financial and Other Information", we have prepared our audited consolidated financial statements for 2019, 2018 and 2017 under IFRS, Minimum capital requirement has been prepared in accordance with the rules of the Argentine Central Bank, which is not comparable to data prepared under IFRS,


	Year ended December 31,(2)
	2020		2019		2018
	(in thousands of Pesos except percentages and ratios)
Calculation of excess capital:
Allocated to assets at risk	9,047,140		7,164,842		6,090,341
Allocated to Bank premises and equipment, intangible assets and equity investment assets	1,350,035		826,133		370,233
Market risk	551,765		251,739		301,724
Interest rate risk	—		—		—
Public sector and securities in investment account,	27,651		11,472		96,882
Operational risk	3,233,793		2,349,952		1,486,516
Required minimum capital under Central Bank rules	14,210,384		10,604,138		8,345,696
Basic net worth	30,242,263		16,991,091		11,847,865
Complementary net worth	1,090,865		1,033,734		1,163,939
Deductions	(7,028,227)		(2,999,716)		(867,798)
Total capital under Central Bank rules	24,304,901		15,025,109		12,144,006
Excess capital	10,094,517		4,420,971		3,798,310
Selected capital and liquidity ratios:
Regulatory capital/risk weighted assets(1)	19.29	%	11.60	%	11.90	%
Average shareholders’ equity as a percentage of average total assets	11.16	%	10.40	%	9.90	%
Total liabilities as a multiple of total shareholders’ equity	7.5x		7.1x		9.4x
Cash as a percentage of total deposits	20.31	%	28.20	%	35.10	%
Tier 1 Capital / Risk weighted assets	13.35	%	10.80	%	10.80	%