Calyon Egypt H1 net profit rises 81 percent

Daily Star Egypt Staff
1 Min Read

CAIRO: Calyon Bank Egypt reported an 81 percent rise in net profit in the first half of 2006 to LE 35.3 million ($6.1 million), the stock exchange said on Monday. Calyon reported a net profit of LE 19.5 million in the same period last year. The bank is 75 percent owned by French investment bank Calyon, which is a subsidiary of Credit Agricole . The second-largest shareholder in Calyon Egypt is El Mansour & El Maghraby Development and Investment Co, with 22 percent. The Egyptian bank is a result of a merger between Credit Agricole Indosuez (Egypt) and the Egyptian branch of Credit Lyonnais. Reuters

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