Banque Du Caire Raises Return On Brimo Dollar Certificates

Banque Du Caire has raised the return on its three- and five-year “Brimo Certificate”.

Sources said the bank has raised the return on the dollar denominated three-year Brimo Certificate from 2.75% to 3.125%, and the return on the dollar denominated five-year Brimo Certificate from 3% to 3.25%.

Sources revealed that the bank raised return on these certificates so as to attract deposits worth US$ 200 million.

It is worth mentioning that Banque Du Caire has raised return on the local-currency three-year fixed-return Brimo Certificate which has quarterly return to 12.5% and the Brimo Certificate which has monthly return to 11%, in an attempt to strengthen the Egyptian pound after the hike in the value of dollar.