RAKBANK Is The Trade Name Of National Bank Of Ras Al-Khaimah PJSC, A Public Joint Stock Company Headquartered In The Emirate Of Ras Al Khaimah, United Arab Emirates. It Is Listed On The Abu Dhabi Stock Exchange (ADX).
Overview
Ras Al Khaimah Bank Is A Retail And Commercial Bank In The United Arab Emirates With AED 52.80 Billion In Assets, AED 36.90 Billion In Deposits And AED 505.40 Million In Net Profit At The End Of 2020. The Bank Provides Traditional And Islamic Retail, Small Business And Commercial Banking Services Through A Network Of 27 Branches As Well As ATM, Telephone, Online And Mobile Banking Channels.
In Early 2013, The Bank Made A Significant Investment In The Shariah (Islamic Shariah) Compliant Financial Sector In The Country, Establishing The Islamic Banking Arm, RAKBANK AMAL. Islamic Banking Products And Services Are Provided Through Its Subsidiary, RAK Islamic Finance Company. In August 2014, The Bank Announced Its Intention To Acquire A Majority Stake In Ras Al Khaimah National Insurance Company (RAKNIC), Subject To Approval From The Bank's Shareholders. At A Shareholders' Meeting Held At Ras Al Khaimah Bank's Headquarters On Monday, Shareholders Voted In Favour Of The Bank Purchasing A Majority Stake At AED 3.64 Per Share. The Acquisition Will Be Completed By Making An Offer To All Shareholders Of RAKNIC.
Shareholders
The Bank Is 52.76% Owned By The Government Of Ras-Al-Khaimah. The Board Consists Of Several Members Of The Ruling Family Of The Emirate And Businesspeople From Across The UAE And Kuwait.
