Credit Agricole Egypt H1 profit up 1.9 percent

CAIRO (Reuters) - Credit Agricole Egypt (CIEB.CA), Egypt's fourth largest bank by market value, said on Monday its first half net profit rose 1.9 percent to 215.5 million Egyptian pounds ($41 million).

The bank had made 211.5 million pounds in the first half of 2007. Reuters calculated the bank's second-quarter net profit at about 108 million pounds based on previously announced results for the first quarter, below the forecasts of two analysts.

Shares of the bank, a subsidiary of France's Credit Agricole (CAGR.PA), were down 1.63 percent at 14.50 pounds at 0752 GMT.

($1 = 5.30 Egyptian pounds)

(Writing by Will Rasmussen; editing by Rory Channing)