Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board.

The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse filing.

The board greenlighted the two appointments during its meeting that was held on 18 March 2024.

In the 12-month period that ended on 31 December 2023, RAKBANK generated net profits valued at AED 1.78 billion, higher by 53.40% year-on-year (YoY) than AED 1.16 billion.

The operating income hiked by 29.70% YoY to AED 4.40 billion in 2023 from AED 3.39 billion.