Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBank) on Wednesday posted a 32% year-on-year increase in profits for the first quarter of 2019.
Net profits amounted to AED 269.7 million ($71.93 million) in Q1-19, compared to AED 204 million ($55.52 million) in Q1-18, according to the lender’s filing to the Abu Dhabi Securities Exchange (ADX).
Operating revenues of the bank levelled up 8% year-on-year to AED 1 billion during the three-month period ended last March.
In the first nine months of 2018, RAKBank’s net profit hit AED 668.8 million, 11% up from AED 602.7 million in the year-ago period.
