{"id":638697,"date":"2017-10-11T03:54:17","date_gmt":"2017-10-11T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/"},"modified":"2017-10-11T03:54:17","modified_gmt":"2017-10-11T03:54:17","slug":"banque-misr-reverses-decision-to-cut-rates-on-deposits-source","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/","title":{"rendered":"Banque Misr reverses decision to cut rates on deposits -source"},"content":{"rendered":"<p>Banque Misr has cancelled its decision to cut interest rates on EGP-denominated savings accounts by up to 75 bps after the CBE\u2019s move to raise the required reserves ratio, <a href=\"http:\/\/www.almalnews.com\/Story\/348699\/12\/%D8%A8%D9%86%D9%83-%D9%85%D8%B5%D8%B1-%D9%8A%D8%B9%D9%8A%D8%AF-%D8%AA%D9%81%D8%B9%D9%8A%D9%84-%D9%8A%D9%88%D9%85-%D8%A8%D9%8A%D9%88%D9%85-%D8%A8%D8%B9%D8%AF-5-%D8%A3%D8%B9%D9%88%D8%A7%D9%85-%D8%AA%D9%88%D9%82%D9%81\">a source told Al Mal<\/a>. Reversing the decision came after the bank saw increased demand on one of its funds that pays interest daily and generated an average return of 16.8%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banque Misr has cancelled its decision to cut interest rates on EGP-denominated savings accounts by up to 75 bps after the CBE\u2019s move to raise the required reserves ratio, a source told Al Mal. Reversing the decision came after the bank saw increased demand on one of its funds that pays interest daily and generated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638697","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"dba0c1f6-b2de-445e-a7c3-c5a2fcabd1d5","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[638654],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banque Misr reverses decision to cut rates on deposits -source - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banque Misr reverses decision to cut rates on deposits -source\" \/>\n<meta property=\"og:description\" content=\"Banque Misr has cancelled its decision to cut interest rates on EGP-denominated savings accounts by up to 75 bps after the CBE\u2019s move to raise the required reserves ratio, a source told Al Mal. Reversing the decision came after the bank saw increased demand on one of its funds that pays interest daily and generated [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-11T03:54:17+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banque Misr reverses decision to cut rates on deposits -source\",\"datePublished\":\"2017-10-11T03:54:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\"},\"wordCount\":69,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"EnterpriseAM\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/banque-misr-reverses-decision-to-cut-rates-on-deposits-source\/\",\"name\":\"Banque Misr reverses decision to cut rates on deposits -source - 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This will exclude deposit certificates, he added. Analysts cited by Al Mal\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648092,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/28\/banque-misr-blom-bank-raise-interest-rates\/","url_meta":{"origin":638697,"position":1},"title":"Banque Misr, Blom Bank raise interest rates","author":"enterpriseam admin","date":"28 May 2017","format":false,"excerpt":"Banque Misr and Blom Bank have raised interest rates on loans and certificates of deposit following the CBE\u2019s decision to hike rates by 200 bps last week, Al Shorouk reports. Blom Bank increased interest on short-term CDs by a maximum of 200 bps, and is studying doing the same for\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630205,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/15\/state-owned-banks-scrap-high-yielding-cds-introduce-new-variable-interest-certificates\/","url_meta":{"origin":638697,"position":2},"title":"State-owned banks scrap high-yielding CDs, introduce new variable interest certificates","author":"enterpriseam admin","date":"15 April 2018","format":false,"excerpt":"The country\u2019s largest state-owned banks have decided to scrap their high-yielding certificates of deposits two weeks after the central bank cut key interest rates by 100 bps. Banque Misr stopped issuing its high-yielding 17% CDs as of last Thursday, Vice Chairman Akef El Maghraby said, while the National Bank of\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623033,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/18\/cib-nbe-and-banque-misr-agree-to-fund-waste-to-energy-projects\/","url_meta":{"origin":638697,"position":3},"title":"CIB, NBE and Banque Misr agree to fund waste-to-energy projects","author":"enterpriseam admin","date":"18 October 2018","format":false,"excerpt":"CIB, the National Bank of Egypt (NBE), and Banque Misr have agreed to provide funding for waste-to-energy projects with a capacity of up to 10 MW, sources told a local newspaper. The banks will begin extending loans once the government reaches a decision on final tariff rates.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":662584,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/19\/banque-misr-nbe-slash-rates-on-three-year-usd-cds\/","url_meta":{"origin":638697,"position":4},"title":"Banque Misr, NBE slash rates on three-year USD CDs","author":"enterpriseam admin","date":"19 March 2025","format":false,"excerpt":"The reduction is not expected to affect the attractiveness of these certificates, a banking expert told us","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2173.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601068,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/18\/banks-follow-central-bank-of-egypts-lead-with-interest-rate-cuts\/","url_meta":{"origin":638697,"position":5},"title":"Banks follow Central Bank of Egypt\u2019s lead with interest rate cuts","author":"enterpriseam admin","date":"18 February 2019","format":false,"excerpt":"Major state-owned banks followed the CBE\u2019s lead by cutting interest rates on their changing-yield certificates of deposit (CDs) but left interest on their platinum CDs unchanged, Mubasher news services reported. National Bank of Egypt and Banque Misr cut interest to 16% from 17% on CDs with changing yields linked to\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/638697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=638697"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/638697\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/638654"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=638697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=638697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=638697"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=638697"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=638697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}