August 10, 2011 / 1:45 PM / 6 years ago

BBVA Banco Frances posts lower 2nd-qtr net profit

BUENOS AIRES, Aug 10 (Reuters) - BBVA Banco Frances (FRA.BA), the Argentine affiliate of Spanish bank BBVA(BBVA.MC), reported on Wednesday a second-quarter net profit of 197 million pesos ($46.1 million), versus a 203.4 million peso profit a year before.

    The net profit was lower than market expectations. A Reuters poll of four analysts had put the bank’s net profit at a median of 225 million pesos, with estimates ranging from 201 million to 251 million pesos.

    BBVA Banco Frances is the sixth-most heavily weighted stock on Argentina's Merval .MERV benchmark index, accounting for 6.10 percent of it. ($1 = 4.2725 pesos on June 30) (Reporting by Jorge Otaola; Writing by Luis Andres Henao; Editing by Gerald E. McCormick)

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