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 income amounting to AED 1.17 billion as of 31 March 2024, higher year-on-year (YoY) than AED 1.05 billion, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) went up to AED 0.29 in Q1-24 from AED 0.22 in Q1-23.
In the first three months (3M) of 2024, the total assets hiked to AED 78.58 billion from AED 73.95 billion a year earlier. Meanwhile, the customer’s deposits increased to AED 55.39 billion from AED 50.39 billion.
Last year, RAKBANK achieved 53.40% higher net profits at AED 1.78 billion, compared to AED 1.16 billion in 2022.
