Abu Dhabi-Mubasher: National Bank of Ras Al Khaimah (RAKBANK) announced its financial results to Abu Dhabi Securities Exchange (ADX) for the fiscal year (FY) ending December 31, 2014, reporting a rise in net profit by 1.8% or AED 23.8 million to AED 1.455 billion against AED 1.431 billion during the corresponding period of 2013.


Earnings per share (EPS) registered an increase of 2.4% to AED 0.87 during the period compared to AED 0.85, according to the Bank.

The Bank’s net interest income by the end of 2014 also grew 12% to AED 2.76 billion against AED 2.466 billion.


Financials for the Abu Dhabi-listed bank showed a rise in operational expenses during the period to AED 1.51 billion against AED 1.4 billion, registering an increase by 9.2%.


It is worth noting that RAKBANK had reported a drop in profit by 5.6% during the first nine months of 2014, ending September 30, 2014 to AED 1.07 billion compared to AED 1.137 billion during the same period of 2013.

Photo Credit: Arabianeye-Reuters