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BUENOS AIRES, May 9 (Reuters) - Argentine banking conglomerate Grupo Financiero Galicia S.A. on Tuesday reported an 18.5 percent increase in first-quarter net profit from the previous year to 1.6 billion pesos ($104 million).
Analysts' average estimates in a Reuters survey pointed to profit of 1.67 billion pesos. Grupo Financiero Galicia controls Banco Galicia, Argentina's largest domestic bank by loans and deposits.
$1 = 15.395 pesos on March 31 Reporting by Caroline Stauffer; Editing by Dan Grebler