National Bank of Egypt raises rates on dollar deposit certificates

Reuters , Wednesday 9 Mar 2016

State-owned National Bank of Egypt has raised the interest rates on its three-, five-, and seven-year dollar-denominated certificates of deposit, a banker told Reuters on Wednesday.

The interest rate on the three-year certificate was raised to 4.25 percent from 3.25 percent, and the interest rate on the seven-year certificate was raised to 5.75 percent from 4.25 percent, the banker said.

The interest rate on the five-year certificates was raised to 5.25 percent. The banker did not give a comparative figure for the previous five-year certificate interest rate. 

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