The National Bank of Ras Al Khaimah (RAKBank), listed on the Abu Dhabi Securities Exchange (ADX), reported a 25.7% year-on-year increase in its net profit for the second quarter of 2019.
Net profit reached AED 284.8 million in the three-month period ended 30 June 2019, compared to AED 226.6 million in Q2-18, according to RAKBank’s management discussion and analysis report for the period ended 30 June.
The bank’s total income increased by 5.5% in Q2-19 to AED 992.7 million, versus AED 940.5 million in the year-ago period.
In the first half of 2019, the bank logged a net profit of AED 554.9 million, up 28.5% from AED 431.7 million in H1-18.
Total assets stood at AED 57.3 billion at the end of June 2019, up 8.7% from AED 52.7 billion as at 31 December 2018.
In April, RAKBank announced it generated a net profit of AED 269.7 million in Q1-19, up 32% from AED 204 million in Q1-18.