(Adds breakdown for Banco Galicia)
BUENOS AIRES Aug 7 Argentine banking
conglomerate Grupo Financiero Galicia on Thursday
reported a stronger-than-expected jump in second quarter net
profit to 693.2 million pesos ($85.2 million), driven largely by
the country's currency devaluation.
The quarterly figure beat the median forecast in a Reuters
poll of analysts for 583 million pesos and marked a 91.6 percent
surge on the year.
GFG, which controls Argentina's biggest privately owned bank,
Banco Galicia, reported first-half net profit of 1.5 billion
Galicia, which has previously said it benefited from the
impact of Argentina's sharp devaluation of the peso on its
dollar-denominated assets, reported net profit of 673.3 million
pesos in the quarter ended June 30 compared with 290.3 million
in the same period in 2013.
($1= 8.135 Argentine pesos as of June 30)
(Reporting by Jorge Otoala; Writing by Richard Lough and Sarah
Marsh; Editing by Jeffrey Benkoe and David Gregorio)