NBE says new high-yield deposit certificates raise EGP85bn
The National Bank of Egypt's (NBE) high-yielding certificates of deposit, launched earlier this month, have raised EGP85bn (USD5bn), NBE Chairman Hisham Okasha said on Monday. NBE has received new deposits in local currency, amounting to EGP15bn and has collected USD140mn in two weeks, along with other transfers, according to Okasha. NBE and Banque Misr said on 3 November they would offer 18-month CDs at 20% and three-year CDs at 16%. (Reuters, Daily News Egypt)
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