Banque Misr raises EGP 39 billion from high-yield CDs in 5 days – chairman

Egypt’s second-largest state lender Banque Misr has collected 39 billion Egyptian pounds ($1.4 billion) from its high-yielding savings certificate it introduced five days ago, said chairman Mohamed El-Etreby on Monday.

The one-year certificates, carry a 25 percent yield, the highest yield on record, were launched on January 4 as part of efforts to contain the rising inflation by encouraging savings.