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(Adds details on profit)
BUENOS AIRES May 8 (Reuters) – Argentine banking
conglomerate Grupo Financiero Galicia reported
a stronger-than-expected jump in first-quarter net profit to
830.7 million pesos ($103.8 million) on Thursday largely due to
the country’s currency devaluation.
Income was up from 298.9 million pesos in same quarter of
2013 and well above the median forecast in Reuters poll of four
analysts for 590 million pesos.
Galicia controls 99.62 percent of Argentina’s biggest
privately owned bank, Banco Galicia, which said on Thursday it
benefited from the impact on the country’s sharp devaluation of
the peso currency in January on its dollar-denominated assets.
(Reporting by Alejandro Lifschitz; Editing by Jeffrey Benkoe;
and Peter Galloway)
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