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Islamic Finance Briefing - Categorized | Banking, Performance more

Rak Bank reveals profits hike

Posted on 22 July 2010

From Ameinfo.com: The National Bank of Ras al-Khaimah (Rak Bank) has revealed its second-quarter net profit grew 31%, as interest and fee income rose, outweighing a near doubling of bad loan charges, Reuters has reported.
The lender made a net profit of Dhs240.2m ($65.4m) in the three months to June 30, up from Dhs183.4m in the same period a year earlier. Net provisions for bad loans continued to weigh on the bank, increasing 92.8% in the first half of the year to Dhs148.8m, from Dhs77.2m in the same period in 2009……………………………………….Full Article: Source

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