Commercial International Bank, Egypt's largest lender by market value, said on Wednesday second quarter net profit jumped 35 percent, beating analyst forecasts.

The bank said it made 516 million Egyptian pounds ($97 million) in the three months to the end of June. The profit included 145 million pounds from the sale of a subsidiary.

The result compared with forecasts from two analysts for second quarter net profit of 339.21 million pounds and 383.80 million pounds respectively.

"CIB...delivered strong financial and operational performance despite some of the most challenging market conditions," it said in a statement.

"This was achieved through significant growth across all business lines."    

Dubai Capital Group, part of government-owned Dubai Holding, said earlier this month it had bought a 5.24 percent stake in CIB.

CIB, which said in May that talks to merge with Arab African International Bank had ended, posted a 67 percent surge in first-quarter profit. It said in July it had received a 1.3 billion pound loan from a US government agency to expand low- and middle-income mortgage lending in Egypt, the most populous Arab country. - Reuters