August 16, 2018 / 10:09 PM / a month ago

Argentina's Grupo Financiero Galicia Q2 profit rises 25 pct

BUENOS AIRES, Aug 16 (Reuters) - Argentina’s Grupo Financiero Galicia SA posted a net profit of 2.782 billion pesos ($96.1 million) in the second quarter of 2018, up 25 percent from the same period in 2017, the company said on Thursday.

The bank’s earnings growth lagged Argentina’s 29.5 percent annualized inflation rate through June. The group controls Argentina’s largest domestic private bank by loans and deposits, Banco Galicia. That unit’s quarterly net profit fell by 5 percent to 1.962 billion pesos.

$1 = 28.95 pesos at end of June Reporting by Luc Cohen and Nicolas Misculin; Editing by Christian Plumb

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