Egypt's Naeem says first-half profit down 25 pct

CAIRO, Aug 14 (Reuters) - Naeem Holding (NAHO.CA), Egypt's second-largest publicly traded investment bank, said on Thursday its first-half profit fell 25 percent to $16.5 million.

The bank did not explain the results. Chief Executive Hany Tawfik and other officials were not immediately available for comment when Reuters called.

The bank has said it expects to double operating profit this year by generating more fee income from its brokerage and real estate fund business.

Net income last year rose more than fivefold to $107.6 million, boosted by Naeem's sale of a 9.79 percent stake in AlWatany Bank of Egypt (WATA.CA) to the National Bank of Kuwait (NBKK.KW). That added more than $60 million to profit. (Writing by Will Rasmussen, editing by Will Waterman)