Abu Dhabi-Mubasher: RAK Bank posted a 4.8% fall year-on-year in its second-quarter profits, according to unaudited financial statements.
Net profits reached AED 195.459 million ($53.21 million) in Q2-16, compared to AED 353.975 million ($96.36 million) in Q2-15.
The bank generated profits of AED 445.471 million in H1-16, compared to AED 716.175 million in H1-15.
Provisions for impairment of loans and advances rose to AED 437.119 million in Q1-16 from AED 233.884 million in Q1-15, while theyreached AED 835.339 million in H1-16.
