NBE, Banque misr garner some EGP200bln in 3 months from saving certificates

Banque Misr and National Bank of Egypt have collected revenues of 200 billion Egyptian pounds from selling new 15 percent annual yield saving certificates since being launched at the end March.

Mohamed el Atrebi, the Board Chairman of Banque Misr, told MENA that the bank sold certificates worth 55 billion pounds throughout the past three months.

Yehia Abul Fotouh, the Deputy Chairman of the NBE, said the bank sold 140-billion-pound worth of certificates.

The certificates were sold online or through the mobile banking application.

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