Saving certificates of NBE, BM garner LE 170bn

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Sat, 06 Jun 2020 - 02:46 GMT

Banque Misr - Creative Commons

Banque Misr - Creative Commons

CAIRO, June 6 (MENA) - The new saving certificates issued by the National Bank of Egypt (NBE) and Banque Misr (BM) of 15-percent monthly return garnered more than 170 billion pounds since issuance two months ago, the two banks said on Saturday.

Mohamed el Atrebi, the Board Chairman of Banque Misr, told MENA that the bank sold certificates worth 49 billion pounds by the end of the previous week.

Meanwhile, a well-place source with the NBE, said the bank sold 122-billion-pound worth of certificates.

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

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

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