Reduction of the Cairo Bank on return Advanced return depositsFollowing the decision of the Central Bank of Egypt to reduce return rates on deposit and lending by 2% last Thursday.
The return on the prepaid deposit for a month was 16.45% instead of 17.80%, and the deposit was 3 months to 15.23% instead of 16%.
The return on the deposit fell for 6 months to 14.68%, instead of 16.10%, and the return on the deposit reached 9 months to 14.42% instead of 15.10%.
For one-year-old deposit, the return fell to 12.94%, instead of 13.45%.
At the end of its meeting, on Thursday, 28 August, the Bank Monetary Policy Committee decided to reduce the rate of one-night deposit and loan return by 2% to 22% and 23% respectively.
