NBE and Banque Misr Collect EGP 460 Billion From Recently Introduced Saving Certificates ...Egypt

Photo credit: Asharq Al-awsat The Chairman of the Federation of Egyptian Banks and Banque Misr, Mohamed El-Etreby, revealed on Monday 31 January that the 25 percent and 22.5 percent saving certificates of deposit (CDs) offered by Banque Misr and the National Bank of Egypt (NBE), collected a total of EGP 460 billion. With an annual interest of 25 percent spent at the end of the period, or 22.5 percent spent monthly for a period of one year, these certificates offered the highest yield on record for both banks. Issued on 4 January, the certificates garnered this amount in less than one month. However, Egypt’s two biggest state-owned banks announced that they will stop issuing these certificate

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Last updated : 31 January 2023 clock 06:16 PM

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NBE and Banque Misr Collect EGP 460 Billion From Recently Introduced Saving Certificates ...Egypt

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