Abu Dhabi – Mubasher: Ras Al Khaimah Bank announced on Thursday in a filing to the Abu Dhabi Securities Exchange (ADX) that it has appointed Mohamed Omran Al-Shamsi as board chairman.

RAK Bank reported a 1.8% rise in its net profits for 2014, reaching AED 1.455 billion against AED 1.431 billion in 2013.

It shareholders approved a 50% cash dividend, amounting to AED 0.50 per share and totalling AED 838.122 million.

RAK Bank’s capital amounts to AED 1.676 billion divided on 1.676 billion shares at par value of AED 1 per share.