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 primarily as a corporate bank, RAKBANK underwent a major transformation in 2001, shifting its main focus to personal and business banking. In 2013, it further expanded its presence in the small to medium size enterprise (SME) and commercial banking sectors. In line with its strategy of diversification, RAKBANK has since re-entered the corporate banking arena and went on to acquire a majority stake in RAK Insurance in mid-2015.

Today, RAKBANK is a multi-award-winning bank with a flourishing group of businesses spanning personal, business, Islamic and wholesale banking, as well as treasury, insurance, and financial institutions services, offering a wide range of conventional and Sharia-compliant products and services to individuals and businesses across the UAE through its 36 branches and its digital banking platform. It is a market leader in the digital transformation of banking services ranging from contactless payments to instant remittances and from online and mobile banking to innovative credit and debit card products.

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
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