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Saturday, April 20, 2024 0:39 GMT
Egypt’s two biggest state banks have collected 171 billion Egyptian pounds (US$10.554 billion) from a new high-yield savings product they introduced in March, officials from the two banks were quoted as saying. The one-year product, launched on March 22, carry a 15% yield.An official at the National Bank of Egypt said it had collected 122 billion pounds (US$7.529 billion), while Banque Misr’s chairman said it had gathered 49 billion pounds (US$3.024 billion), state news agency MENA reported.