The National Bank of Ras Al Khaimah (RAKBANK) reported a 16 per cent rise in its profit after tax (PAT) in 2024 to reach AED 2.1 billion.
The bank also reported a 27 per cent jump in its profit before tax (PBT) in the year to AED 2.3 billion, which it said is a historical milestone.
The bank said its record profits are supported by the highest-ever income of AED 4.7 billion, up 7 per cent on a year-on-year basis.
In Q4 2024, the bank’s PAT was at AED 386 million, and PBT at AED 424 million, a decline of 10.4 per cent and 4.6 per cent, respectively.
The bank’s operating Income in the quarter was at AED 1.10 billion, an increase of 3.7 per cent from the same year-ago period.
Mohamed Omran Alshamsi, Chairman, RAKBANK, said the bank’s unwavering commitment to excellence, coupled with a focus on digital innovation and exceptional customer experiences, has driven remarkable financial growth, enabling it to surpass the AED 2 billion profit milestone for the first time in its history.
“With a strong and resilient balance sheet, RAKBANK will continue to invest in talent and technology to deliver a market-leading offering,” he added.
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