Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egyptian Banks Proceeds from 27%, 23.5% Saving Certificates Hit EGP 612 Bln

Fri 09 Feb 2024 | 05:36 AM
Taarek Refaat

The proceeds of 27% and 23.5% saving certificates from the National Bank of Egypt (NBE) and Banque Misr reached EGP 612 billion within 5 weeks.

NBE collected about EGP 395 billion from the 27% and 23.5% certificates within 5 weeks of their offering, an increase of about EGP 30 billion within a week, and the Banque Misr attracted a proceeds estimated at about EGP 217 billion.

On January 4, the National Bank of Egypt and the National Bank of Egypt offered two savings certificates with a return of 23.5%, disbursed monthly, and 27% annually, disbursed at the end of the year.