Banque Misr, NBE garner EGP 136 bn from new saving certificates

Banque Misr and National Bank of Egypt have collected revenues of 136 billion Egyptian pounds from selling new 15 percent annual yield saving certificates for 747,000 customers since being launched at the end of last March.

Mohamed el Atrebi, Board Chairman of Banque Misr, told MENA that the bank sold certificates worth 42 billion pounds to 197,000 clients since the new certificates were issued.

They were also sold electronically as part of the preventive measures taken by the State to limit crowds to ban the spread of coronavirus, he added.

Yehia Abul Fotouh, Vice President of the NBE, said the bank sold 94 billion-pound worth certificates since for 550,000 clients they were issued.

The certificates were sold online or through the mobile banking application and the call center 19623, he added.

The two banks issued these certificates as part of measures to ease the economic repercussions of coronavirus outbreak.