19 Hrs
Source:
الاقتصادية
RAK Bank Profit Rises 21.3%
Ras Al Khaimah National Bank achieved a 21.3% year-over-year increase in its profits during the first nine months of 2026, reaching AED 2.52 billion, compared to AED 2.08 billion in the same period last year. The bank’s assets also grew by 21% to reach AED 120.2 billion, while customer deposits increased by 21.3% to AED 79.6 billion. In the third quarter of 2026, the bank’s after-tax profits rose by 14.7% to AED 811 million, with operating revenues growing modestly by 1.3% to AED 1.341 billion, despite a slight 0.3% decline in net interest income. The stock also saw a rise of 19% over the nine months, from the end of December 2025 to the end of September, climbing from AED 8.4 to AED 10. As for asset quality, the non-performing loan ratio declined to 1.7%, and the capital adequacy ratio increased to 23.3%. The performance emphasizes diversifying income sources and increasing profits, supported by continued growth in assets and deposits.
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