{"id":651767,"date":"2017-02-20T04:08:41","date_gmt":"2017-02-20T04:08:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/"},"modified":"2017-02-20T04:08:41","modified_gmt":"2017-02-20T04:08:41","slug":"banks-begin-reducing-rates-on-high-yield-cds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/","title":{"rendered":"Banks begin reducing rates on high-yield CDs"},"content":{"rendered":"<p>A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, <a href=\"http:\/\/www.alborsanews.com\/2017\/02\/19\/5-%D8%A8%D9%86%D9%88%D9%83-%D8%AA%D9%88%D9%82%D9%81-%D8%A7%D9%84%D8%B4%D9%87%D8%A7%D8%AF%D8%A7%D8%AA-%D9%85%D8%B1%D8%AA%D9%81%D8%B9%D8%A9-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9-%D9%886-%D8%AA\/\">Al Borsa<\/a> reported. Only National Bank of Egypt and Banque Misr have kept their products\u2019 interest rates at 20%, with sources from both banks denying intentions to reduce rates. CIB and HSBC have repriced their own CDs, reducing their interest rates by 100-175 bps.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. Only National Bank of Egypt and Banque Misr have kept their products\u2019 interest rates at 20%, with sources from both banks denying intentions [&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-651767","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"1288e15f-ab0d-4627-8e42-e47e5e824c15","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[651728],"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>Banks begin reducing rates on high-yield CDs - 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\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks begin reducing rates on high-yield CDs\" \/>\n<meta property=\"og:description\" content=\"A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. Only National Bank of Egypt and Banque Misr have kept their products\u2019 interest rates at 20%, with sources from both banks denying intentions [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-20T04:08:41+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\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banks begin reducing rates on high-yield CDs\",\"datePublished\":\"2017-02-20T04:08:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\"},\"wordCount\":80,\"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\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\",\"name\":\"Banks begin reducing rates on high-yield CDs - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-02-20T04:08:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks begin reducing rates on high-yield CDs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Banks begin reducing rates on high-yield CDs - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/banks-begin-reducing-rates-on-high-yield-cds\/","og_locale":"en_US","og_type":"article","og_title":"Banks begin reducing rates on high-yield CDs","og_description":"A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than the ones offered in November after the EGP flotation, Al Borsa reported. 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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":[]},{"id":629883,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/private-sector-banks-begin-lowering-interest-rates-in-response-to-cbes-latest-rate-cut\/","url_meta":{"origin":651767,"position":1},"title":"Private sector banks begin lowering interest rates in response to CBE\u2019s latest rate cut","author":"enterpriseam admin","date":"3 April 2018","format":false,"excerpt":"Private sector banks have begun lowering rates and scrapping high-yielding CDs in response to the CBE\u2019s decision last Thursday to slash key interest rates by 100 bps, according to Al Mal. CIB slashed rates on its savings accounts and certificates by 100-125 bps and QNB Al Ahli-Egypt also docked 50\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":651767,"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":648248,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/cib-raises-interest-rates-on-short-term-deposit-certificates\/","url_meta":{"origin":651767,"position":3},"title":"CIB raises interest rates on short-term deposit certificates","author":"enterpriseam admin","date":"31 May 2017","format":false,"excerpt":"CIB has raised interest rates on short-term certificates of deposit by 100 bps to 3.5% for one week CDs and 11.5% for one-year CDs, according to Al Borsa. Interest rates on savings accounts and personal loans remain unchanged. Several banks, including BLOM Bank and the National Bank of Egypt, had\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":579118,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/","url_meta":{"origin":651767,"position":4},"title":"It\u2019s sayonara to high-yield CDs at the end of the month","author":"enterpriseam admin","date":"25 January 2023","format":false,"excerpt":"Banque Misr and the National Bank of Egypt are pulling their one-year, 25% certificates of deposit after the end of January, according to emailed statements from the two banks. The high-yield savings products were introduced to the market on 4 January ahead of the EGP devaluation to help curb inflation\u2026","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\/2023\/1\/444.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579291,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/privatization-plans-interest-rates-and-cds-make-for-another-econ-heavy-night\/","url_meta":{"origin":651767,"position":5},"title":"Privatization plans, interest rates, and CDs make for another econ-heavy night","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"We got more economy lessons from the talking heads last night, as the government\u2019s upcoming announcement on its listing pipeline and tomorrow\u2019s rate policy meeting at the central bank took top billing on the airwaves.Lamees urges \u201csignificant\u201d EGX listings \u2014 not only strategic stake sales: Noting that cabinet did not\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/9.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/651767","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=651767"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/651767\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/651728"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=651767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=651767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=651767"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=651767"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=651767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}