Some banks are likely to soon hold meetings of
asset-liability committees to decide the course of action.
These two exercises can greatly help your
asset-liability committee with its pricing decisions and can transform your marketing department into a profit center!
For its part, the
Asset-Liability Committee (ALCO) of Egypt's largest bank, the National Bank of Egypt (NBE), decided on Thursday to raise interest rates on its savings accounts of all types by 0.5%, to be implemented in the beginning of August 2017.
The deputy chairperson of the National Bank of Egypt (NBE), Yehia Aboul Fotouh, said that the
Asset-Liability Committee (ALCO), which is responsible for determining the bank's interest rates, will meet within days to discuss the fate of interest on the bank's savings coffers.
The
Asset-Liability Committee (ALCO) at NBE, which sets the interest rates at the bank, decided to convene Wednesday to determine the future interest rates of the bank, which has the largest share of deposits and loans in the Egyptian market.
Time constraints and the absence of
Asset-Liability Committee officers--who are in charge of setting interest rates at banks--due to travel circumstances, has impeded banks from taking quick decisions.
The
Asset-Liability Committee (ALCO) -- the entity responsible for determining interest rates of the Industrial Development & Workers Bank of Egypt -- will hold a meeting on Wednesday 22 June to make a decision about the interest rates on bank savings, according to the bank's director general of the treasury Haitham Abdel Fattah.
The
Asset-Liability Committee (ALCO) in Banque Misr decided on Monday to raise the interest rates on customers' deposits by 1%, and raise the yield on savings accounts by 0.75%, after the decision by the Central Bank of Egypt (CBE) on Thursday to increase the prices of the basic yield by 1%.