Egyptian Gulf Bank's 9-month net profit slips 14 pct
CAIRO, Nov 4 (Reuters) - Egyptian Gulf Bank (EGBE.CA: Quote, Profile, Research) said its net profit for the first nine months of 2009 fell 14 percent to 71.7 million Egyptian pounds ($13.1 million).
Net profit in the first nine months of 2008 was 83.7 million.
The bank added provisions of 5.85 million during the quarter, down from 41.9 million in the 2008 period.
Egypt's state-owned Misr Insurance company owns 19 percent of Egyptian Gulf Bank, and private Gulf and Egyptian investors hold other significant stakes.
Total assets rose to 5.79 billion from 5.07 billion at the beginning of 2009, the bank said in a statement released by the Egyptian Exchange on Tuesday.
Loans to customers and banks slid 2.51 billion from 2.67 billion, while customer deposits climbed to 4.58 billion from 4.38 billion. ($1=5.471 Egyptian pounds) (Writing by Patrick Werr; Editing by Greg Mahlich)
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