Commercial International Bank (CIB), one of Egypt s top private banks, said on Sunday its net profit in the first quarter of 2007 rose 42 percent to LE 266 million ($46.8 million.)
CIB said in a statement net interest income was LE 255 million, compared with LE 215 million in the same period a year earlier. It said provisions for the quarter were LE 81.88 million, compared with LE 39.7 million in the same period in 2006.
The bank did not give an explanation for the figures. CIB has said it was looking to potential expansion in Syria, Lebanon, Jordan and the Gulf.
Shares in the bank closed 0.7 percent down on Sunday before the results, at LE 58.50 a share.
