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

The National Bank of Ras Al Khaimah (ADX: RAKBANK) is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely corporate to Retail and Small Business Banking. In line with its strategy to take advantage of opportunities that enhance revenue and market share, the Bank increased its lending in the traditional SME, Commercial and Corporate Banking segment, and more recently it selectively re-entered the Corporate Banking space and acquired a majority stake in RAK Insurance in mid-2015 to diversify our product offering and better serve the needs of our customers.

RAKBANK offers a wide range of Conventional products and services to individuals and businesses across the UAE throughout its 38 branches and its Digital Banking. The Bank also provides a range of Sharia-compliant products and services through its RAKislamic Division.

Key figures
AED Millions
FY2016
FY2017
FY2018
Net Interest Income
2,825
2,723
2,769
Non-Interest Income
1,014
1,087
1,058
Total Income
3,839
3,810
3,827
Operating Expenditures
(1,369)
(1,446)
(1,488)
Operating Profit Before Provision for Impairment
2,471
2,364
2,339
Provision for Impairment
(1,808)
(1,553)
(1,421)
Net Profit
663
811
918
 
AED Millions
FY2016
FY2017
FY2018
Total Assets
42,510
48,537
52,684
Gross Loans and Advances
29,779
33,235
34,827
Deposits
29,398
32,176
34,140
 
Ratios
FY2016
FY2017
FY2018
Return On Equity
8.7%
10.6%
13.5%
Net Interest Margin
6.9%
6.1%
5.5%
Cost to Revenue
35.6%
38.0%
38.9%
Return On Assets
1.6%
1.8%
1.8%
Coverage Ratio
84.3%
74.6%
133.1%
Gross Impaired Loans Ratio
4.2%
4.0%
4.2%
Lending to Stable Resources Ratio
85.5%
87.8%
94.5%
Liquid Asset Ratio
16.9%
15.0%
14.5%
Capital Adequacy Ratio
22.3%
20.3%
17.2%
Tier One
22.3%
20.3%*
16.0%

*Basel III Common Equity Tier 1 ratio at 20.7%. Basel II Capital Adequacy ratio as at 31 December 2017 at 20.3% against 22.3% compared to the previous year, figures are after considering profit and proposed dividend.

Board of Directors
H.E. Mohamed Omran Alshamsi, Chairman H.H. Shaikha Amneh AlQasimi
H.E. Sheikh Salem Bin Sultan Al Qasimi Mr. Salem Ali Al Sharhan
Mr. Ahmed Essa Al Naeem Mr. Rajan Khetarpal
Mr. Kantic Dasgupta  
Executive Management
Peter England
Chief Executive Officer
Deepak Majithia
Chief Financial Officer
K.S. Ramakrishnan (Ram)
Chief Risk Officer
Mahadevan Radhakanthan
Chief Credit Officer
Geoff Stecyk
Chief Operating Officer
Frederic de Melker
Managing Director, Personal Banking
Dhiraj Kunwar
Managing Director, Business Banking
Rahul Oberoi
Managing Director, Wholesale Banking
Vikas Suri
Managing Director, Treasury
Jean Pierre Le Roux
Managing Director, Financial Institutions Group and International
Nabil Azar
Director, General Counsel

Abdul Karim Juma
Director, Islamic Banking

Saleh Ali Saleh
Director, RAK Business