National Bank of Egypt targets deposits of $67.6 bln by year-end

National Bank of Egypt (NBE), the country’s biggest public lender, seeks to raise its deposits to 600 billion Egyptian pounds ($67.6 billion) by the end of the year.

Hazem Hegazy, Head of retail banking at NBE, further told Amwal Al Ghad on Sunday that the bank’s deposits recorded around 560 billion pounds by the end of June 2016.

NBE has a bunch of savings vehicles with an interest rate of 12.5 percent in addition to a savings certificate for Egyptian pounds with an interest rate of 15 percent to support the currency.

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