Egypt Post raises interest rates on deposits to 10.25%: Chairman

Egypt’s postal authority, Egypt Post has decided to raise interest rate on savings to 10.25 percent as of November 10, said its Chairman, Essam El-Saghir.

In response to central bank’s recent decision to float the Egyptian pound, a number of banks have raised interest rates on deposits.

The Egypt Post’s investments and deposits surged to 184 billion Egyptian pounds ($11.1 billion) said Chairman, asserting that the authority is constantly improving its services and developing new and improved ones aiming to satisfy all customers.