Egyptian lender Housing and Development Bank (HDB), preparing for a possible merger, posted a 13.3 percent fall in nine-month net profit to LE 170 million ($29 million).
The figure was unaudited and no other details were given, the stock exchange said on Thursday.
In October, the bank said it was being restructured with an eye toward a possible merger with state-owned Egyptian Arab Land Bank within two years, a move that would create Egypt’s sixth or seventh biggest bank.
Last year, it bought 39 percent of Dubai-based Damac Holding’s Egyptian unit whose main project is the 1,500 hectare Hyde Park housing development east of Cairo.
