RAKBANK reports profit for first nine months of year

25 October 2010

The National Bank of Ras Al Khaimah (Rakbank) has reported a 37.5% growth in net profit of Dhs729.8m ($198.7m) for the nine months ended September 30, 2010, compared to the same period in 2009. Gross loans and advances stood at Dhs16.2bn, which was up 16.9% over December 31, 2009 and by 23.4% compared to the same period last year. Net interest income grew by 35.5% compared to the previous year to reach Dhs1.2bn.

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