Dubai, UAE – The upgrade in Viability Rating underscores RAKBANK’s robust capital position, improved asset quality, and growing diversification into wholesale banking. It also reflects the bank’s ability to generate sustainable earnings while maintaining solid liquidity and prudent risk management.

Fitch highlighted key drivers of RAKBANK’s strong performance, including its diversified business model, with a strategic shift into wholesale banking and treasury operations that has enhanced income stability and reduced reliance on traditional retail lending. The bank has also demonstrated improved asset quality, with a steady decline in non-performing loans (NPLs) and high loan-loss coverage ratios, reflecting effective risk management. RAKBANK maintains a strong capital buffer, positioning it well for continued growth, and benefits from a highly stable deposit base, showcasing strong customer confidence.

Jaffer Nini, Group CFO of RAKBANK, commented on the rating action:   
"The upgrade in our Viability Rating reflects the disciplined execution of our transformation strategy, focusing on diversification, digital innovation, and customer-centric growth. As we continue to strengthen our wholesale banking franchise and enhance risk management, we remain committed to delivering long-term value for our stakeholders."

RAKBANK’s BBB+ rating with a stable outlook reaffirms its position as a leading financial institution in the UAE. The bank remains focused on accelerating digital transformation, optimizing its portfolio, and expanding in high-growth sectors while continuing to drive profitability and operational efficiency.

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About RAKBANK

RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.

We’re a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).

RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments.

With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.

For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with us on our social media platforms:

  • twitter.com/rakbanklive
  • Instagram.com/rakbank
  • tiktok.com/@rakbank
  • linkedin.com/rakbank 

For more information, please contact: 
Suzana Saoud 
Senior Account Manager 
Gambit Communications 
Suzana@gambit.ae