Saving certificates of NBE, BM garner some EGP 200bn in 3 months

CAIRO, June 20 (MENA) - The new saving certificates issued by the National Bank of Egypt (NBE) and Banque Misr (BM) of 15-percent monthly return garnered some EGP 200 billion pounds since issuance about three 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 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.