New certificates will have annual 15.5% yield from date of issuance
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Subscription ends on 4 January 2020, and can be suspended after 10 days if the subscription was not fully covered, says Farouk
The NSB’s board of directors agreed to allow Banque Misr, the National Bank of Egypt (NBE), and the Suez Canal Bank to receive subscription, purchasing, and underwriting offers for the fund.
Bank profits grow 47% year-over-year, says Farouk
New fund receives EGP 80m from Tahya Misr Fund, EGP 20m from Ministry of Endowments
Plan is to establish new head office in Sixth of October City, restructure, develop branches
Investment plan for bank in FY 2019/20 is estimated at EGP 525m