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English news

24-Nov-2016

NBE has raised EGP95bn from new high-yield CDs

National Bank of Egypt (NBE)'s high-yielding certificates of deposit (CDs), launched when the Central Bank of Egypt (CBE) floated the EGP earlier this month, have raised so far EGP92bn (USD5.2bn), according to NBE’s Vice-president Yehia Abu El Fotouh. NBE said on 3 November that they would offer 18-month certificates of deposit at 20% and three-year certificates of deposit at 16%. The CDs are part of efforts to stabilise the EGP following the currency free float. (Amwal Al Ghad)

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