The National Bank of Egypt (NBE) has received new deposits in Egyptian pounds amounting to EGP 15bn over the course of two weeks, according to chairperson Hisham Okasha.
During the People and Banks conference held on Monday, Okasha added that the bank collected $140m in the two weeks following the flotation, along with other transfers.
Banque Misr deputy chairperson Akef El Maghraby said the bank collected $400m in the two weeks post-flotation.
El Maghraby added that Banque Misr has funded small- and medium-sized enterprises (SME) with EGP 2bn, along with a similar value of support to microenterprises. He noted that the bank has over 51,000 SME clients.
He pointed out that the bank wants to attract savings in local currency, and has therefore offered two savings certificates with interest rates of 16% and 20%.