Argentina's Banco Macro posts 3rd-qtr net profit

By IBTimes Staff Reporter | November 04 2009 4:59 PM

Banco Macro, one of Argentina's largest private banks, reported a third-quarter net profit of 190.9 million pesos ($49.8 million), compared with 163.3 million pesos a year earlier, the company said on Wednesday.

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The result was higher than the median forecast of a net profit of 178.5 million pesos in the quarter, with estimates ranging from 167 million to 196 million pesos, in the Reuters survey of four analysts.

($1 = 3.8375 pesos on June 30)

(Reporting by Jorge Otaola, Writing by Kevin Gray, Editing by Leslie Gevirtz)

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