Egyptian investment bank EFG-Hermes reported on Tuesday third quarter net income of 88.1 million Egyptian pounds ($15.23 million), compared to 150.7 million pounds a year earlier.

It said the results were consolidated for the first time since the bank completed the acquisition of a controlling interest in Lebanon's Credit Libanais.

For the nine months ending September 2010, consolidated net income reached 668.4 million pounds versus 467.2 million a year earlier, it added.-Reuters