National Bank of Ras Al Khaimah (RAKBANK) has revealed excellent financial performances for the year 2024, with profit before tax reaching Dh2.3 billion. It is a great success for the bank, which achieved a total income of Dh4.7 billion for the year.
RAKBANK’s growth was driven by a diversified asset portfolio and a strong net interest margin of 4.5%. The bank also saw an increase in customer deposits, which reached Dh59.6 billion, and a robust return on equity (ROE) of 18.4%. These results reflect the bank’s strategic focus on operational efficiencies and technological investments.
The CEO of RAKBANK stated that he was confident of further growth and stability in the bank, and one of the main reasons cited for these results was their customer-centric services and innovative solutions.
