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The National Bank of Ras Al Khaimah (RAKBANK) reported a Q3 2024 net profit attributable to the owners of 597.8 million dirhams ($163 million) versus AED 451 million in the year- ago period, boosted by higher net interest income and lower impairment charges.
Net interest income grew to AED 809.5 million in Q3, up from AED 731.6 million in the year-ago period.
Earnings per share was at AED 0.30 versus AED 0.22 in Q3 2022, the bank said in a statement on the Abu Dhabi Securities Exchange (ADX).
Net impairment charges fell to AED 141.4 million from AED 250.8 million in the year-ago period.
For nine-month 2024, the bank recorded a net profit of AED 1.68 billion, up from AED 1.35 billion a year ago.
(Writing by Brinda Darasha; editing by Seban Scaria)
