RAKBANK reports record profit of $626 million, up 23% year-over-year

Ras Al Khaimah, UAE, October 24, 2025 — National Bank of Ras Al Khaimah (RAKBANK) today announced record financial results for the nine months ending September 2025, with profit before tax reaching AED 2.3 billion ($626 million), representing a 23% increase year-over-year.

The bank’s strong performance was supported by a net interest margin of 4.3%, an industry-leading current account and savings account (CASA) ratio of 66%, and a 32% year-over-year growth in non-interest income driven by wealth management services, foreign exchange operations, and the launch of new digital products.

Crypto brokerage launch marks industry first

RAKBANK launched its crypto brokerage service via its mobile app for retail customers, becoming the first conventional bank in the UAE to enable crypto trading services. Customers can buy, sell, and swap cryptocurrencies in AED by accessing Bitpanda’s crypto trading platform through RAKBANK’s mobile banking app.

“As RAKBANK delivers on its strategy to become ‘digital with a human touch’, this vision is translating into tangible results and a number of significant firsts,” said Raheel Ahmed, Group Chief Executive Officer, RAKBANK.

“RAKBANK also launched its crypto brokerage service via its mobile app for retail customers, becoming the first conventional bank in the UAE to enable crypto trading services for its customers.”

Digital transformation drives growth

The bank’s digital-first strategy delivered measurable results across key metrics:

• Digital transactions increased 24% year-over-year
• Card spends grew 11% year-over-year
• Payment through rails rose 14% year-over-year
• Digitally active customers expanded 18% year-over-year

RAKBANK’s AI Digital Assistant now supports over 270,000 active users, providing faster and more intuitive access to banking services.

Balance sheet expansion and product innovation

RAKBANK’s total balance sheet reached a milestone of AED 99.5 billion ($27 billion), with total assets increasing by AED 15.6 billion, reflecting 19% growth compared to September 2024. Loans and advances grew 10% to AED 54 billion, while deposits increased 15%.

The bank granted AED 1.5 billion in credit limits to customers seeking sustainable working capital solutions, with the business banking deposit book crossing AED 25 billion and advances book crossing AED 11 billion.

Strong credit quality and capital position

The bank’s asset quality continued to improve, with the impairment loan ratio declining to 1.7% from 2.2% in the same period last year. The capital adequacy ratio (CAR) remained strong at 19.6%, well above regulatory requirements. The bank maintained a robust net interest margin of 4.3% supported by its industry-leading CASA ratio of 66%.

Enhanced shareholder returns

RAKBANK delivered improved shareholder returns with return on equity rising to 21.9% from 20.5%, and return on assets increasing to 3.0% from 2.9% year-over-year.

Industry recognition and ratings

RAKBANK has been recognized with multiple industry awards including Bank of the Year at the Gulf Business Awards and Social Bond of the Year at the Asian Banking and Finance Awards. The bank maintains strong ratings from leading agencies:

• Moody’s: Baa1/P-2 (Positive outlook) – March 2025
• Fitch: BBB+/F2 (Stable outlook) – March 2025
• Capital Intelligence: A/A1 (Stable outlook) – August 2025

About RAKBANK

RAKBANK is a leading UAE financial institution serving customers across personal banking, business banking, and wholesale banking segments. As the UAE’s go-to SME bank, RAKBANK combines digital innovation with personalized service to help individuals and businesses grow with confidence.

The bank’s ecosystem includes Skiply, the region’s leading school payments app; Protego, a next-generation insurance aggregator; and RAK Insurance, one of the UAE’s most trusted insurers.

For more information, visit www.rakbank.ae

Media Contact:
Suzana Saoud
Associate Account Director, Gambit Communications
+971 56 715 5470
suzana@gambit.ae