NBE’s proceeds from new CDs sale hit EGP 118B  

Updated 4/10/2023 8:11:00 AM
NBE’s proceeds from new CDs sale hit EGP 118B

 

 Arab Finance: The National bank of Egypt (NBE) has received EGP 118 billion in proceeds from the sale of the new certificates of deposit (CDs) in one week, Al Mal reported on April 9th.

On April 2nd, the largest two state-run banks, NBE and Banque Misr, started selling new three-year CDs at an annual interest rate of 22% to be paid in the first year, 18% for the second year, and 16% for the third one.

The lenders also offered another three-year CD with a fixed annual interest rate of 19%.

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