Banque Du Caire’s Dollar Deposits Hit US$ 1.2 Bln At End-2012

Banque Du Caire’s foreign-currency deposits registered US$ 1.2 billion out of EGP 49 billion, the total value of deposit portfolio as of the end of 2012.

Most of the bank’s foreign-currency finances go for petrochemical materials, supply commodities and food items as well as the materials used in labor-intensive industries such as the automotive industry, said Mohamed Taha, vice chairman of the bank.

The bank decided to raise the return rate on its dollar-denominated three-year Brimo Certificate from 2.75% to 3.125% and on its dollar-denominated five-year Brimo Certificate from 3% to 3.25%, targeting to attract dollar deposits worth US$ 200 million.

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