RAKBANK Q1 2026 Net Profit Jumps 43% to $274.3mln

The National Bank of Ras Al Khaimah (RAKBANK) posted double-digit growth in earnings for the first quarter of the year, supported by a strategic asset sale and a robust balance sheet.

Net profit for the period reached AED 1.01 billion ($274.3 million), registering a 43% growth over a year earlier.

The bank recorded a significant boost during the quarter, thanks to the AED 473 million gain on the sale of its merchant acquiring business.

Total assets likewise went up 18% to AED 107.3 billion, while gross loans and advances rose 15% to AED 58.2 billion, and customer deposits climbed 22% to AED 74.3 billion.

Net interest income also rose by 9.2% to AED 947 million, backed by a healthy net interest margin of 4%. 

The lender recorded an improvement in loan quality, with its impaired loan ratio falling to 1.9% from the 2.4% recorded 12 months prior.

The return on common equity (ROCE) hit a robust 29.9%.