Leading Argentine banking conglomerate Grupo Financiero Galicia
reported on Tuesday a first-quarter net profit
of 281.7 million pesos ($64 million), up 23 percent from the
228.1 million peso profit reported for the period a year ago.
The net profit was below market expectations. A Reuters poll
of four analysts had put the company's net at an average of 299
million pesos, with estimates ranging from 270 million to 330
The group's main affiliate, Banco Galicia, posted a
first-quarter profit of 270.2 million pesos, up from a profit of
235.3 million a year earlier, the company said in a statement to
the Buenos Aires Stock Exchange.
($1 = 4.38 pesos on March 31)