Abu Dhabi – Mubasher: National Bank of Ras Al Khaimah (RAK Bank) on Wednesday reported a 0.9% year-on-year increase in net profits for the second quarter of 2018, recording AED 226.6 million from AED 224.6 million.
In the first half of 2018, net profit stood at AED 431.7 million, compared to AED 381.5 million in the year-ago period, the bank said in a filing to the Abu Dhabi Securities Exchange (ADX).
The bank’s provision for impairment fell 16% to AED 688.8 million in the six-month period ended June, versus AED 815.6 million in H1-17, according to a bourse statement released on Sunday.
RAK Bank previously posted a 32% increase in net profits during Q1-18, registering AED 204 million ($55.54 million), compared to AED 154.7 million ($42.11 million) in Q1-17.
