NBE, Banque Misr collect EGP 86 bln from new saving certificates

Banque Misr and National Bank of Egypt have collected revenues of 86 billion Egyptian pounds from selling the saving certificates, with the set 15 percent yield in four weeks.

Deputy President of the National Bank of Egypt (NBE) Yehia Aboul-Fottouh said the bank had so far 58 billion collected from 307 thousand clients, who bought the certificates.

Meanwhile, Deputy President of Banque Misr Akef El-Maghrabi said the bank had collected EGP 28 billion from 117 thousand clients.

In March, Banque Misr and the National Bank of Egypt (NBE) offered new saving certificates with 15% annual yield. The two banks limited the certificate purchase to electronic channels to ensure the safety of customers and employees amid the spread of the Coronavirus.