Argentine Banco Galicia posts Q1 net profit vs loss

BUENOS AIRES, May 9 (Reuters) - Leading Argentine banking conglomerate Grupo Financiero Galicia (GFG.BA: Quote, Profile, Research) posted on Friday a first-quarter net profit of 36.2 million pesos ($11.4 million), compared with net loss of 18.1 million a year ago.

The net profit came in slightly below market expectations, according to a Reuters poll of analysts that gave an average outlook of 40.3 million pesos.

Banco Galicia (GAL.BA: Quote, Profile, Research), the group's main unit, posted a first-quarter profit of 38.7 million pesos, compared with a net loss of 36.2 million a year earlier, the company said in a statement to the Buenos Aires Stock Exchange. ($1 = 3.1875 pesos on March 31) (Reporting by Damian Wroclavsky, writing by Helen Popper; Editing by Tim Dobbyn)