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FINANCIAL NEWS
National Bank of Egypt’s foreign exchange earnings surpass USD12bn
22 Aug 2017
(MENAFN) The National Bank of Egypt’s whole foreign exchange earnings are projected to be more than USD12bn, as proclaimed the vice chairperson of the bank.
Meanwhile, the bank will open its affiliated Al-Ahli Exchange Co. with an issued capital of EGP200mn and a paid-up capital of EGP50mn.
Accordingly, the new exchange firm will operate amid two branches only in Nasr City, while it plans to open 15 branches of its exchange firm in its first year and then 30 amid two years.
The bank’s total deposits hit EGP860bn, involving more than EGP300bn in high-yield certificates launched for a three-year term with a 16 percent yield.
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MENAFN2208201700450000ID1095758379
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