The National Bank of Ras Al Khaimah (RAKBank), listed on the Abu Dhabi Securities Exchange (ADX), achieved a net profit of AED 700.4 million during the first six months of 2014, registering an AED 90 million drop compared to figures a year earlier. This decline was due to impairment charges related to bad loans returning to normal levels.

The Bank’s profit during Q2-14 hit AED 366 million, registering an AED 31.3 million increase compared to figures a year earlier, reflecting the continued improvement of the Bank’s operational income.