Egyptian Banks Raise Deposit Rates as Loan Demand Strengthens

Egyptian banks are intensifying competition for Egyptian pound deposits as strengthening demand for local-currency lending prompts lenders to secure additional funding to support expanding credit activity. Several state-owned and private banks have recently increased returns on selected savings products, with some deposit rates reaching 19.5%, reflecting stronger competition for stable funding despite the Central Bank of […] The post Egyptian Banks Raise Deposit Rates as Loan Demand Strengthens appeared first on The Middle East Observer.