UPDATE 1-Egypt's CIB Q2 net down, below forecasts

* Q2 net profit slips to $87.3 mln, misses forecasts

* Net loans up 17.4 pct, deposits 9 pct from Dec. 31 (Recasts with Q2 net figure, details)

CAIRO Aug 10 (Reuters) - Egypt's Commercial International Bank (CIB) (COMI.CA) (COMIq.L) said on Tuesday its second-quarter net profit fell 8.9 percent year-on-year to 495.6 million Egyptian pounds ($87.3 million), missing analyst forecasts.

The bank, Egypt's biggest private lender by assets, reported a net profit of 543.8 million pounds in the same period a year earlier.

Net interest and fees income increased, however, the bottom line figure declined mainly due to incurring operating expenses of 58.8 million pounds in Q2 2010 compared to operating income of 32 million in the same period of the previous year.

A Reuters poll of three analysts forecast a net profit of 514.5 million pounds on average, with a range of 501 million pounds to 531.5 million pounds.

Net interest income rose to 572.2 million pounds in the second quarter from 490.4 million pounds a year earlier, CIB said in an e-mailed statement.

Net fee and commission income also jumped to 222.6 million pounds from 192.2 million pounds.

Net loans and overdrafts for customers rose to 31.97 billion pounds as of June 30 from 27.24 billion pounds on Dec. 31, while customer deposits increased to 59.58 billion pounds from 54.65 billion pounds, CIB added.

The bank said its first-half net profit rose slightly to 1.02 billion, hitting a record profit, and added the country's economic growth would allow the banking sector to grow in terms of loans and profitability. ($1=5.677 Egyptian Pound) (Writing by Sherine El Madany; Editing by Bernard Orr)