Egypt Housing and Development Bank posts Q1 loss

Egypt's Housing and Development Bank said it swung to a first-quarter net loss, according to a company statement published via the stock exchange on Monday.

The net loss of 25.9 million Egyptian pounds ($4.34 million)compared with a net profit of 59.7 million pounds in the same period last year.

The small-cap stock rose 2.3 percent on Monday. ($1 = 5.967 Egyptian Pounds).