Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of the UAE listed Emirates NBD, witnessed an increase of up to 5.30% in its interest rates for the existing three- and five-year USD certificate of deposits.
The certificate aims to attract dollar earnings while injecting them into Egypt’s national economy. This move would allow customers to maximise their savings in the Arab Republic, according to a press release.
The new scheme reintroduces monthly, quarterly, semi-annual, and annual interest periodicities for both retail individuals and corporate clients of Emirates NBD.
Moreover, the minimum amount for issuing the certificate is $5,000.
Emirates NBD-Egypt noted that its new scheme comes in compliance with its vision of providing integrated solutions and exceptional services while adhering to its commitment to promoting sustainable development in Egypt.
In December 2023, the UAE lender which operates in Egypt expanded its services to reach Shebin El-Kom in Al Menoufia.
As for the financial position during the first nine months (9M) of 2023, Emirates NBD-Egypt recorded a net profit of EGP 2.54 billion while its net interest income hit EGP 5.12 billion.
