Banque Du Caire’s Brimo Certificate Attracts EGP 1 Bln In One Month

Banque Du Caire’s local-currency three-year Brimo Certificate attracted deposits worth EGP one billion in a month, after the return rate on the Certificate was raised to 12.5%.

Sources said the bank raised the return rate on its savings pools so as to strengthen the Egyptian pound against the value of dollar which hiked in the last period through encouraging savings in local currency.

The bank also 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%.

The bank’s deposit portfolio reached EGP 49 billion and loan  reached EGP 21.1 billion at the end of 2012.