Market: Abu Dhabi
Symbol: RAKBANK
ISIN: AEN000601015
Industry: Banks
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
FY2018
FY2019
FY2020
Net Interest Income
2,769
2,802
2,526
Non-Interest Income
1,058
1,177
1,038
Total Income
3,827
3,979
3,564
Operating Expenditures
(1,488)
(1,570)
(1,395)
Operating Profit Before Provision for Impairment
2,339
2,409
2,169
Provision for Impairment
(1,421)
(1,313)
(1,663)
Net Profit
918
1,095
505
 
AED Billions
FY2018
FY2019
FY2020
Total Assets
52.7
57.1
52.8
Gross Loans and Advances
34.8
36.3
32.2
Deposits
34.1
36.8
36.9
 
Ratios
FY2018
FY2019
FY2020
Return On Equity
13.5%
14.9%
6.5%
Net Interest Margin
5.5%
5.1%
4.6%
Cost to Revenue
38.9%
39.5%
39.2%
Return On Assets
1.8%
2.0%
0.9%
Coverage Ratio
133.1%
118.4%
129.4%
Gross Impaired Loans Ratio
4.2%
4.0%
5.2%
Lending to Stable Resources Ratio
94.5%
89.1%
80.6%
Liquid Asset Ratio
14.5%
12.9%
14.5%
Capital Adequacy Ratio
17.2%
16.8%
18.6%
Tier One
16.0%
15.7%
17.5%


Board of Directors
H.E. Mohamed Omran Alshamsi, Chairman H.H. Shaikha Amneh AlQasimi
H.E. Engineer Sheikh Salem 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​

Venkat Raghavan
Chief Compliance Officer

Nicola Jane Thompson
Chief Internal Auditor
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
Ahmed Yousef
Chief HR Officer
Abdul Karim Juma
Director, Islamic Banking
Saleh Ali Saleh
Director, RAK Business