Egypt's CIB says 2011 net profit fell 20.1 pct

CAIRO, Feb 22 (Reuters) - Commercial International

Bank (CIB), Egypt's biggest private bank by assets,

said on Wednesday its consolidated net profit fell 20.1 pct in

2011 to 1.62 billion Egyptian pounds ($268.4 million).

The decline in profit was "primarily driven by much higher

provisions" taken "as a pre-emptive measure to cope with the

on-going economic upheaval Egypt is witnessing," the bank said

in a statement.

Provisions rose to 321 million pounds from 6 million pounds

in 2010, it said.

Net loans increased to 41.07 billion pounds at the end of

2011 from 35.18 billion pounds a year arlier, CIB said.

($1 = 6.0362 Egyptian pounds)

(Reporting by Patrick Werr)