Abu Dhabi - Mubasher: National Bank of Ras Al Khaimah reported a 70.9% year-on-year decline in profits in the third quarter of 2016, according to a bourse filing issued on Thursday.

Net profits registered AED 108.78 million ($29.61 million) compared to AED 370.2 million ($101.58 million) in the third quarter last year.

The bank also said that profits reached AED 554.25 million in the first nine months of the year, compared to AED 1.09 billion in the same period in 2015.