RAKBANK is the exchanging name of the National Bank of Ras Al-Khaimah PJSC, an open business entity headquartered in the emirate of Ras Al-Khaimah, in the United Arab Emirates (UAE). It is recorded on the Abu Dhabi Securities Exchange (ADX) and its shares are traded on an open market .RAKBANK is a retail and business bank in the UAE with resources of AED 34.5 billion at the end of the principal half of 2014. The Bank gives traditional and Islamic retail, private company, and business managing an account benefits through a system of thirty eight branches and 285 ATMs in the UAE and also its Telephone, Online and Mobile Banking stations. As per The Banker’s Top 1000 Arab Bank Rankings in 2014 (distributed by FT Financial Publishing), RAKBANK is the first in the UAE by Return On Assets (ROA) and seventeenth on the planet.
The Bank was among the couple of business banks in the UAE which posted benefit development in 2009. Because of the Bank’s withdrawal in 2006 from loaning in the development and structural building fragments outside of its base Emirate, it has next to no remaining presentation in those portions and has no introduction to development including tall structure towers.
Toward the begin of 2013, the Bank propelled an Islamic Banking unit, RAKBANK AMAL, in the midst of a surge of interests in the Shariah (Islamic law)- agreeable money related part in the nation. The Islamic saving money items and administrations are offered through its backup, RAK Islamic Finance Company. In August 2014, the Bank reported its aim to gain a greater part stake in Ras Al Khaimah National Insurance Company (RAKNIC) taking after endorsement from the Bank’s shareholders. Shareholders voted for the Bank purchasing a lion’s share stake at Dh3.64 per share amid its customary general get together hung on Monday at the bank’s central station in Ras Al Khaimah. The securing will be done through an offer to all shareholders of RAKNIC.
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