Banque du Caire raises return on Primo certificates
Updated 3/22/2022 3:27:07 PM
ArabFinance: Banque du Caire (BDC) (BQDC) has increased the quarterly return on its five-year Primo certificates of deposit by 1%, Amwal Al Ghad reported on Tuesday, citing banking sources.
Accordingly, the quarterly return on the certificates rose to 9% from 8%.
The bank also increased the monthly return on the three-year Primo certificates to 8.25% from 7.25%.
Furthermore, the quarterly return on the three-year certificates was raised to 8.5% from 7.5%.
It is worth noting that Banque Misr reissued its Talaat Harb Certificates with an annual yield of 18%.
On a similar note, the National Bank of Egypt (NBE) issued certificates of deposits with annual yield of 18%.
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided on a special meeting on Monday to raise the overnight deposit rate, overnight lending rate, and the rate of the main operation by 100 basis points (bps).
