Mubasher TV
Contact Us Advertising   العربية

RAKBank profits grow 16% in Q2

RAKBank profits grow 16% in Q2
Provisions fell to AED 374.89 million year-on-year in Q2-17 to AED 417.12 million
RAKBANK
RAKBANK
-0.38% 5.18 -0.02

Abu Dhabi – Mubasher: RAKBank reported a rise in its profits by 16% year-on-year during the second quarter of 2017, according to a bourse statement.

Net profits reached AED 226.74 million ($61.7 million) in Q2-17, compared to AED 195.46 million ($53.2 million) in Q2-16.

In the first half of 2017, the bank's profits fell to AED 381.46 million from AED 445.47 million in the same period of 2016.

Provisions fell to AED 374.89 million year-on-year in Q2-17 from AED 417.12 million, and declined to AED 815.61 million during H1-17.