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NBE, Banque Misr garner over EGP 423 bln from 18% return saving certificates in 2 weeks

MENA , Monday 4 Apr 2022

The National Bank of Egypt (NBE) and Banque Misr announced Monday that the proceeds of the one-year saving certificates with a 18 percent return, launched on 21 March, amounted to EGP 423 billion by the end of the day and in a span of two weeks.

NBE

The banks issued the certificates following an exceptional decision by the Central Bank of Egypt (CBE) last month to raise basic interest rates by 1 percent.

Meanwhile, Board Chairman of Banque Misr Mohamed El-Atribi told MENA that the bank garnered EGP 138 billion in proceeds from the new high-yield savings certificates by the end of today's transactions and during two weeks.

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