Egypt's CIB Q1 net profit up 1.4 pct, beats forecasts

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CAIRO, May 13 (Reuters) - Commercial International Bank (CIB) (COMI.CA)(COMIq.L) beat forecasts by posting a 1.4 pct rise in first quarter net profit to 471.4 million Egyptian pounds ($83.9 million) on Wednesday.

Three analysts who gave forecasts for the bank, Egypt's largest lender by market value, estimated net income for the period of between 355 million to 448 million pounds.

The bank reported a net profit of 465.1 million pounds in the first quarter of 2008.

Net interest income climbed 27.5 percent to 492.1 million pounds for the first quarter of 2009 compared to a year earlier.

Loans were little changed at 26.7 billion pounds at the end of March 2009 compared to 26.3 billion pounds at the end of December 2008. Deposits rose to 51.2 billion pounds at the end of March, compared to 48.8 billion pounds at the end of December. (Reporting by Cynthia Johnston, writing by Edmund Blair)