NBE, Banque Misr high yield certificates attract EGP24.9bln in 4 days

The National Bank of Egypt and Banque Misr have sold  24.9 billion Egyptian pounds of their new high-yielding saving certificates with 15-percent monthly return in first week of its launch.

Yehia Abul Fotouh, Vice President of the NBE, said the bank sold 17.3 billion pounds worth certificates since they were issued on Sunday, while attracting 85 thousand customers.

While, Mohamed el Atrebi, Board Chairman of Banque Misr, said that the bank garnered 7.6 billion pounds on selling “Ibn Masr” 15 percent return certificates.

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

Banque Misr stressed that it has not accepte any cash deposits to purchase these certificates, therefore, there is no need for customers to go to the branches.

As for NBE, it explained that in the case of clients going to branches to buy a new certificate, the percentage of clients allowed to be present at a branch will not exceed 50% of the seat capacity.