Piraeus Bank Egypt reported a net profit of LE 13.5 million ($2.4 million) for the first nine months of 2006, the Egyptian stock exchange said on Wednesday.

No comparison figures were available. Piraeus Bank Egypt is the outcome of last year s buyout of Egyptian Commercial Bank by Greece s Piraeus Bank.

Piraeus Bank bought 69.3 percent of the Egyptian Commercial Bank for about LE 133 million in June 2005 and then raised its stake to 89.3 percent through a capital increase.

Shares in Piraeus Bank Egypt last traded 5 percent up at LE 20.75 per share.