Banque Misr, NBE garner EGP 118 bn from new saving certificates

Banque Misr and National Bank of Egypt have collected revenues of 118 billion Egyptian pounds from selling new 15 percent annual yield saving certificates since being launched at the end of last March.

The value of the 15% savings certificates sold by Banque Misr reached 38 billion pounds, the bank’s chairman Mohamed El-Etreby said.

In addition, NBE has sold 80 billion pounds of these certificates since the date of the launch, the lender’s vice chairman Yehia Aboul Fotouh noted.

These certificates are available through mobile and internet banking as well as ATMs, e-mail, and contact centres.

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.