RAKBANK’s assets exceed $24.52bln for first time in Q1-25; profits up 23%

PHOTO
RAKBANK headquarters building. Image Courtesy: RAKBANK

Abu Dhabi – The National Bank of Ras Al Khaimah (RAKBANK) achieved net profits after tax valued at AED 704.49 million in the first quarter (Q1) of 2025, an annual rise of 22.70% from AED 574.19 million.

Interest income hiked to AED 1.11 billion as of 31 March 2025 from AED 1.09 billion in Q1-24, according to the financial results.

Basic and diluted earnings per share (EPS) increased to AED 0.35 in the first three months (3M) of 2025 from AED 0.29 a year earlier.

Total Assets have crossed AED 90 billion for the first time in the bank’s history, while the customer deposits jumped by 18.20% year-on-year (YoY) to AED 61 billion in Q1-25.

RAKBANK recorded a 16.40% growth in net profit after tax to AED 2.07 billion at the end of December 2024, compared to AED 1.78 billion in 2023.

Source: Mubasher