AAIB Introduces New Savings Certificate With Market-Leading Return

The Arab African International Bank (AAIB) has introduced a new savings certificate for its customers, promising the highest investment return currently available in Egypt's banking market. The bank enables customers to save with this certificate for a period of three years, offering many advantages along with it. The minimum amount eligible for issuance of a certificate is LE5,000, with further multiples of LE1,000, without a defined maximum limit. The cumulative return on the certificate reaches 65 percent, which is disbursed at the due date. The investment duration in the certificate extends up to three years, and the certificate cannot be renewed after the due date. Customers can also borrow from the bank at a rate of 80 percent of the original certificate price. The certificate also allows the issuance of a credit card. The bank has specified that the certificate is only available to ordinary individuals. Recently, AAIB announced in a previous statement which unveiled that it has achieved a net income from returns of US$226.5 million in H1-2023 and net income from fees and commissions of $46 million, making the total net earnings peak at $284 million.