The National Bank of Ras Al Khaimah (RAKBANK)

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News

22 May 06:51 AM RAKBANK, EDA announce AED 1bn co-financing to support UAE’s industrial growth

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) and Emirates Development Bank (EDB) jointly launched a co-financing partnership totaling AED 1 billion to support growth in national priority sectors. The initiative aims to boost …

Companies Investments

5 May 04:27 PM OMNIYAT secures $500m from inaugural green Sukuk led by UAE-listed lenders

UAE– Mubasher: Dubai’s leading ultra-luxury real estate developer OMNIYAT has priced its inaugural green Sukuk issuance, raising $500 million, according to a press release. The three-year Islamic offering marks the group’s entry into the …

Real estate

22 April 09:53 AM RAKBANK’s assets exceed AED 90bn for 1st time in Q1-25; profits up 23%

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) achieved net profits after tax valued at AED 704.49 million in the first quarter (Q1) of 2025, an annual rise of 22.70% from AED 574.19 million. Interest income hiked to AED 1.11 …

Banking and Finance

11 March 12:02 PM NBF closes $100m syndicated financing transaction co-led by Emirates NBD, RAKBANK

Abu Dhabi – Mubasher: The National Bank of Fujairah (NBF) has closed a single currency term and letter of credit syndicated transaction amounting to $100 million, according to a press release. The financing deal will enable Pure Cement LLC to …

Companies Investments

26 January 10:52 AM RAKBANK surpasses AED 2bn profit milestone for 1st time; assets hike in 2024

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) generated 16.40% higher net profits after tax at AED 2.07 billion in 2024, compared to AED 1.78 billion in 2023. The net profits were supported by the highest-ever income of AED …

Banking and Finance

9 January 04:22 PM Aldar issues $1bn hybrid notes; regional, international investors partake in issuance

Abu Dhabi – Mubasher: Aldar Properties has priced its inaugural $1 billion hybrid capital issuance, attracting robust demand from a wide range of regional and international investors, according to a press release. The issuance by Aldar at a public …

Banking and Finance

17 December 2024 06:59 PM Leading UAE banks, international entities among arrangers for VakıfBank’s $870m equivalent facilities

UAE – Mubasher: Türkiye Vakıflar Bankası T.A.O. (VakifBank), the second largest bank in Türkiye in terms of asset size since YE2020, is pleased to announce the successful signing of its 367-day $518.50 million and EUR 331.40 million Sustainable …

Banking and Finance

22 October 2024 10:33 AM RAKBANK logs AED 1.6bn net profits in 9M-24

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) recorded net profits valued at AED 1.68 billion in the first nine months (9M) of 2024, higher by 24.90% than AED 1.35 billion in 9M-23. RAKBANK posted 8.10% year-on-year (YoY) …

Banking and Finance

1 October 2024 02:13 PM RAKBANK, Magnati partner to secure embedded finance solutions

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) teamed up with Magnati to launch an advanced merchant financing platform, according to a press release. SME merchants will access credit facilities through RAKBANK by leveraging …

Banking and Finance

20 August 2024 09:58 AM RAKBANK, Bitpanda Technology Solutions to unlock digital assets in UAE

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK)  joined forces with Bitpanda Technology Solutions, a leading digital assets infrastructure provider, to secure a platform that will enable UAE residents to smoothly manage digital …

Companies Investments

29 July 2024 04:13 PM RAKBANK’s profits up 21% to AED 1bn in H1-24

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) posted a 21% rise in net profit after tax to AED 1.08 billion during the first half (H1) of 2024, compared to AED 900.80 million in H1-23. Operating income hiked by 8.70% …

Banking and Finance

21 July 2024 10:09 AM RAKBANK issues 1st publicly traded Social Bond in GCC

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has completed the issuance of its five-year Euro Medium-Term Note (EMTN) bond under its Social Finance Framework. The lender offered a $600 million issue, which was oversubscribed …

Global Economy

19 June 2024 03:08 PM National Bank of Egypt signs $1bn syndicated loan; regional, international entities partake -Update

Cairo – Mubasher: The National Bank of Egypt (NBE) has announced, on 19 June 2024, the successful signing of a $1 billion senior unsecured syndicated term loan facility in which several regional and global financial institutions participated. The …

Banking and Finance

28 April 2024 00:15 PM RAKBANK logs AED 574m profits in Q1-24

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) witnessed an annual leap in net profits to AED 574.19 million during the first quarter (Q1) of 2024, compared to AED 450.32 million. The ADX-listed lender registered operating …

Financial Results

19 March 2024 00:15 PM RAKBANK announces 2 key appointments

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board. The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse …

Corporate Actions

30 January 2024 10:03 AM RAKBANK’s net profits jump 53.5% in 2023

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) logged net profits amounting to AED 1.78 billion in 2023, an annual surge of 53.40% from AED 1.16 billion. Operating income hit AED 4.40 billion as of 31 December 2023, higher by …

Financial Results

4 December 2023 09:48 AM Moody’s affirms RAKBANK ‘Baa1/ P-2’ rating; outlook stable

Abu Dhabi – Mubasher: Moody's Investor Service has reaffirmed the ‘Baa1/ P-2’ rating to the National Bank of Ras Al Khaimah (RAKBANK), with a stable outlook. The obligations rated Baa are subject to moderate credit risk, according to a bourse …

Ratings

30 November 2023 00:58 PM ADGM launches financing digital platform Numou; investments by 3 banks unveiled

UAE – Mubasher: Abu Dhabi Global Market (ADGM) has introduced Numou, a digital platform created to bridge the funding gap faced by small and midsize enterprises (SMEs). This digital platform marks a pivotal step in anchoring the SME ecosystem …

Trading Activities

24 October 2023 01:59 PM RAKBANK generates AED 1.35bn profits in 9M-23

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) registered a 53.90% year-on-year (YoY) hike in net profit to AED 1.35 billion during the first nine months (9M) of 2023, versus AED 878.80 million. Operating income climbed by …

Banking and Finance

26 July 2023 01:26 PM RAKBANK logs 71% higher net profits in H1-23

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) generated net profits amounting to AED 900.80 million in the first half (H1) of 2023, an annual hike of 70.80% from AED 527.40 million. The UAE lender registered a total income …

Financial Results

27 April 2023 10:49 AM RAKBANK unveils higher profits in Q1-23, capital raise proposal

Abu Dhabi – Mubasher: The net profits attributable to the owners of National Bank of Ras Al Khaimah (RAKBANK) hit AED 451.20 million in the first quarter (Q1) of 2023, versus AED 220.82 million in Q1-22. Basic and diluted earnings per share (EPS) …

Corporate Actions

26 February 2023 10:12 AM RAKBANK’s 2022 profits to owners hike to AED 1.17bn

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) logged net profits attributable to the shareholders worth AED 1.17 billion in 2022, compared to AED 756.12 million in 2021. RAKBANK registered operating income worth AED 3.45 …

Financial Results

25 October 2022 06:03 PM RAKBANK registers AED 885m profits in 9M-22

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) generated AED 884.39 million in net profit attributable to the owners during the first nine months (9M) of 2022, compared to AED 532.47 million in 9M-21. The net interest income …

Financial Results

26 July 2022 06:46 PM RAKBANK’s profits leap 72.5% in H1-22

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has reported net profits of AED 527.40 million in the first half (H1) of 2022, an annual hike of 72.40% from AED 306 million. The bank's net interest income and net income from …

Financial Results

18 July 2022 10:34 AM RAKBANK, Kraken to offer UAE's 1st AED-denominated virtual asset trading

Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) and Kraken MENA (Kraken), a digital asset exchange, will launch the UAE's first AED-denominated virtual asset trading through local bank accounts. As regulated by the Central Bank …

Banking and Finance