CAIRO, Aug 11 (Reuters) - Egypt's EFG-Hermes, the country's largest investment bank, said on Thursday it made a net loss of 67.55 million Egyptian pounds ($7.61 million) in the second quarter compared to a net profit of 177.49 million pounds in the same period last year.
EFG-Hermes slid into losses in the first quarter after taking a non-cash impairment charge on the sale of its stake in Credit Libanais. Net losses in the first six months of the year amounted to 131.21 million Egyptian pounds. It did not provide an immediate explanation for the losses.
($1 = 8.8799 Egyptian pounds)
(Reporting by Ola Noureldin, Writing Lin Noueihed) ((lin.noueihed@thomsonreuters.com; +202 2 394 8039; Reuters Messaging: lin.noueihed.thomsonreuters.com@reuters.net))
EFG-Hermes slid into losses in the first quarter after taking a non-cash impairment charge on the sale of its stake in Credit Libanais. Net losses in the first six months of the year amounted to 131.21 million Egyptian pounds. It did not provide an immediate explanation for the losses.
($1 = 8.8799 Egyptian pounds)
(Reporting by Ola Noureldin, Writing Lin Noueihed) ((lin.noueihed@thomsonreuters.com; +202 2 394 8039; Reuters Messaging: lin.noueihed.thomsonreuters.com@reuters.net))
