Six banks have raised rates on their variable rate CDs post CBE’s decision to hike interest rates by 200 bps last Thursday. QNB-Alahli, BLOM Bank-Egypt, Export Development Bank, Egyptian Arab Land Bank, NBG-Egypt, and Alexbank have raised rates on their three-year CDs with a variable rate to range around 18.25% to 19.5%. It is worth noting that the bulk of Egypt banks’ CDs are at fixed, not variable rates. Other banks, including the three state-owned banks, are still studying whether to raise or hold their interest rates. (Al Borsa)
 
Qatar National Bank: QAR124.60 as of 09 Jul 2017, Rating: Neutral, TP: QAR142.00/share, MCap: USD31,616mn, QNBK QD/QNBK.QA
BLOM: USD12.15 as of 07 Jul 2017, Rating: Buy, TP: USD14.00/share, MCap: USD2,612mn, BLBD LB/BLBDF.BY