The National Bank of Egypt NBE, largest state-owned lender, announced that the proceeds of the one-year saving

NBE garners EGP 260 billion from 25% saving certificates since issuance

1/24/2023 9:00:00 AM

The National Bank of Egypt (NBE), largest state-owned lender, announced that the proceeds of the one-year saving certificates with 25-percent yield amounted to EGP 260 billion since its issuance.

NBE added that the certificates will be available for clients for not more than the end of January.

The new 25%-savings certeficate since its launch on January 4 has attracted about 62,000 new customers to NBE’s client base, the bank added.

The bank added that about 60% of the savings was carried out through alternative channels (Al-Ahly Net, Al-Ahly Mobile, and the call center), and the rest through the bank’s branches spread across Egypt.

Both State-owned banks, NBE and Banque Misr, announced that they were issuing new one-year maturity saving certificates with a 25 percent yield after one year, the highest yield on record in Egypt so far.