NBE, Banque Misr 15% Certificates Attract EGP 255 Billion

The National Bank of Egypt (NBE) and Banque Misr revealed on Friday that their 15% saving certificates attracted EGP 255 billion in four months.

Deputy chairman of the NBE Yehia Abul Fotouh said the bank raised EGP 185 billion worth of certificates, benefiting about 1,150 million customers.

While, the deputy chairman of Banque Misr Akef el Maghraby said that the bank raised EGP 70 billion worth of saving certificates throughout the past four months, confirming that the bank will continue issuing such certificates during the coming period.

The certificates were sold electronically or through e-banking apps, taking into account preventive measures to address coronavirus (COVID-19).

It is noteworthy that the NBE and Banque Misr has issued on March 22, one-year savings certificates with a fixed return of 15% distributed monthly, provided that these certificates are purchased through electronic means.