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 35.40% to AED 3.32 billion as of 30 September 2023 from AED 2.45 billion in 9M-22, according to the unaudited financial statements.
The basic and diluted earnings per share (EPS) went up to AED 0.67 in January-September 2023 from AED 0.44 a year earlier.
Total Assets hiked to AED 72 billion in 9M-23 from AED 66.34 billion as of 31 December 2022, while the customer deposits grew to AED 48.46 billion from AED 44.87 billion.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, the bank’s net profits enlarged by 28.70% to AED 452.06 million from AED 351.39 million during the corresponding period in 2022.
The operating income surged by 24.20% to AED 1.13 billion in Q3-23 from AED 915.13 million in Q3-22, while the basic and diluted EPS grew to AED 0.22 from AED 0.18.
In the first half (H1) of 2023, RAKBANK witnessed 70.80% higher net profits at AED 900.80 million, compared to AED 527.40 million in H1-22.
