Cairo – Mubasher: The National Bank of Egypt (NBE) and Banque Misr have both collected EGP 679 billion from the saving certificates at an annual interest rate of 18%, the Middle East News Agency (MENA) reported on Thursday.
Yehia Abou El-Fotouh, Vice Chairman of the NBE, pointed out that the bank registered EGP 464 billion in the certificates’ income since their issuance on 21 March this year.
Meanwhile, Mohamed El-Etreby, Chairman of Banque Misr, noted that the total value of the 18% certificates submitted to the Egyptian banking entity reached EGP 215 billion until the present time.
It is worth noting that the two lenders recorded over EGP 13 billion on the first day of offering the one-year saving certificates, after the Central Bank of Egypt (CBE) had decided to raise interest rates by 100 basis points.
