February 16, 2010 / 1:32 PM / in 8 years

Argentine Grupo Galicia profit trails expectations

BUENOS AIRES, Feb 16 (Reuters) - Leading Argentine banking group Grupo Financiero Galicia (GFG.BA) (GGAL.O) reported a fourth-quarter net profit of 49.3 million pesos ($12.7 million) on Tuesday, compared with a 32.2 million peso profit a year ago.

The result fell short of market expectations. A Reuters poll of four local analysts had put the company’s net profit at a median of 60.5 million pesos, with estimates ranging from 48 million to 94 million pesos. ($1 = 3.86 as of Dec. 31) (Reporting by Jorge Otaola; Writing by Helen Popper; Editing by Gerald E. McCormick)

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