Banque Misr managed to collect more than EGP 400m through their 12.5% special returns savings certificates on their first day of launching, Chairman of Banque Misr Mohamed El-Etreby said

The NBE and Banque Misr surprised the banking market with the launch of the two certificates with annual returns of 12.5%, paid on a monthly basis.

In a statement to Daily News Egypt, El-Etreby explained that all bank branches around Egypt witnessed a great demand on buying, which continued to receive buyers until 4 pm on Sunday.

Yahya Aboul Fotouh, a board member in the NBE, said there was a great demand on the certificate on the first day of its launch in all bank branches.

Aboul Fotouh said the bank launched the certificate with the goal of attracting new clients to the banking sector and helping the state achieve financial inclusion. The bank’s platinum certificate attracts nearly EGP 150m per day and liquidity is expected to attract more than that through the new certificate.