EGP 6.2bn worth of 15% certificates sold by NBE, Banque Misr on first day

Hossam Mounir
2 Min Read
Hisham Okasha, Chairperson of the National Bank of Egypt (NBE)

Banque Misr and the National Bank of Egypt (NBE) have sold EGP 6.2bn worth of 15%-return saving certificates on the first day of their issuance.

Monday sales proceeds were not yet counted.

Hisham Okasha, the chairperson of NBE, said that about 80% of the sales of NBE’s platinum certificate with a 15% return were made electronically and through the bank’s call centre.

Okasha told Daily News Egypt that the certificates sales amounted to about EGP 4.5bn on the first day of its launch on Sunday.

Mohamed El-Etreby, the chairperson of Banque Misr, said that the “Ibn Misr” 15%-return certificates sales recorded EGP 1.7bn on the first day of their launch.

On Sunday, the two banks commenced offering their new saving certificates with an annual interest rate of 15%.

The two banks asked clients who wish to purchase the certificate to do so electronically or through the banks’ call centres and avoid visiting the branches to limit crowding and ensure the safety of both clients and employees, in light of the spread coronavirus.

“To ensure the safety of our clients and our employees, certificates will be purchased only through the bank’s electronic channels, which include mobile, Internet banking, call centre and email,” said El-Etreby.

As for NBE, it explained that in case clients went to visit the branches to get the new certificates, the branch will only serve 50% of their seats capacity to maintain social distancing.

The bank also stressed that the certificates are available through the internet and mobile banking, and call centre. Also, NBE’s clients can issue their instructions to the branch’s account manager to purchase the certificate while at home.

NBE and Banque Misr stressed that the certificates will be available for a long period.

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