Market: Abu Dhabi
Symbol: RAKBANK
ISIN: AEN000601015
Industry: Financials
Company Presentation

The National Bank of Ras Al Khaimah (P.J.S.C) is one of the UAE’s oldest and most dynamic financial institutions. Founded in 1976, we have undergone a series of important transformations. When we rebranded as RAKBANK in 2001, we shifted our focus from purely Corporate Banking to serving Personal customers and Small Businesses. In late 2013, we increased our presence in the traditional SME and Commercial Banking segment, and more recently re-entered Corporate Banking, in line with our strategic plan to diversify our product offering to better serve the needs of our customers.
 
Today, we offer a wide range of conventional banking products and services to individuals and businesses across the UAE via our branches, mobile sales staff, and industry-leading digital solutions. We also provide a range of Sharia-compliant products and services to individuals and businesses through our Islamic Banking unit, RAKislamic. During 2015 we acquired a majority stake in RAK Insurance Company and launched a new Personal Remittance service. These initiatives are part of our ambitious diversification strategy.
 
Since 2001, RAKBANK has built strong foundations that have resulted in several years of sustained growth. We are a UAE bank providing world-class products and industry-leading customer service to people and businesses across the Emirates. We focus on maximising shareholder and asset value by building long-term relationships with our customers, our employees, and our community. Our banking culture is firmly built on transparency, accountability and service excellence. 
 
RAKBANK is a public joint stock company with shares traded on the Abu Dhabi Securities Exchange (ADX). We have a total of five subsidiaries and are collectively known as “the Group”. Our corporate Headquarters are in the Emirate of Ras Al Khaimah.

Key figures
AED Millions
FY2020
FY2021
FY2022
Net Interest Income
2,526
2,168
2,489
Non-Interest Income
1,038
1,062
963
Total Income
3,564
3,231
3,452
Operating Expenditures
(1,395)
(1,396)
(1,484)
Operating Profit Before Provision for Impairment
2,169
1,835
1,968
Provision for Impairment
(1,663)
(1,077)
(804)
Net Profit
505
758
1,163
 
AED Billions
FY2020
FY2021
FY2022
Total Assets
52.8
57.6
66.5
Gross Loans and Advances
32.2
35.5
38.1
Deposits
36.9
38.9
44.9
 
Ratios
FY2020
FY2021
FY2022
Return On Equity
6.5%
9.5%
13.5%
Net Interest Margin
4.6%
4.0%
4.1%
Cost to Revenue
39.2%
43.2%
43.0%
Return On Assets
0.9%
1.4%
1.9%
Coverage Ratio
129.4%
133.7%
181.7%
Gross Impaired Loans Ratio
5.2%
4.0%
3.0%
Lending to Stable Resources Ratio
80.7%
82.8%
79.7%
Liquid Asset Ratio
14.5%
11.6%
12.8%
Capital Adequacy Ratio
18.6%
17.0%
16.4%
Tier One
17.5%
15.9%
15.3%


Board of Directors
H.E. Mohamed Omran Alshamsi, Chairman H.H. Shaikha Amneh AlQasimi, Vice Chairman
Mr. Ahmed Essa Al Naeem Mr. Salem Ali Al Sharhan
Mr. Kantic Dasgupta Mr. Stephen Monaghan
Mr. Jonathan Edward Morris  
Executive Management
Mr. Raheel Ahmed
Chief Executive Officer
Mahadevan Radhakanthan
Chief Credit Officer​
Venkat Raghavan
Chief Compliance Officer
Nicola Jane Thompson
Chief Internal Auditor

Peter Edward Roberts
Chief Operating Officer

DONGJUN CHOI (DJ)
Chief Customers Officer
Dhiraj Kunwar
Managing Director, Business Banking
Shehzad Hameed
Managing Director, Personal Banking
Vikas Suri
Managing Director, Treasury
Jean Pierre Le Roux
Managing Director, Financial Institutions Group and International
Ahmed Yousef
Chief HR Officer
Abdul Karim Juma
Director, Islamic Banking
Saleh Ali Saleh
Director, RAK Business
Ghalia Bushnaq
Group General Counsel
Farhan Mahmood
Chief Risk Officer