Record growth continues, RAKBANK delivers AED 772M profit before tax despite increased global uncertainty

The National Bank of Ras Al Khaimah (RAKBANK) today reported its financial results for first Quarter of 2025

        Highlights - Q1 2025

• All percentage variances are YoY

    Key Financial Highlights – Q1 2025

Profit after tax of AED 704M for Q1’25 up 22.7% over Q1’24Operating Profit of AED 866M up 10.2% YoY on the back of strong growth in balance sheet and non-interest incomeOperating Expenses grew by 11.8% vs last year driven by continued investments in technology, data, people and customer experience. Cost to income ratio (CIR) at 33.4% vs. 33.1% for Q1’24Total Assets have crossed AED 90B for the first time in Bank’s historyGross loans & advances surpassed AED 50B mark, reflecting a 16.7% YoY increase. Growth driven by all segments, with Wholesale Banking loans growing by 30.1% YoY, aligning with the bank's diversification strategyCustomer deposits reached AED 61.0B, up 18.2% YoY, with a CASA1 ratio of 65%, up 10.2% YoY, one of the highest in the industryPortfolio credit quality remains robust with cost of risk at 0.8% as against 1.5% during the same period last year, supported by a strategic shift in business mix towards secured, low risk assetsThe impaired loan ratio as at Q1’25 improved to 2.1% against 2.6% as at Q1’24 while ‘Provisions to Gross Loans’ ratio of 5.6% compared to 6.0% as of Q1’24, providing adequate coverageShareholder returns remained strong with Return on Equity (ROE) of 22.4% against 21.4% in Q1’24 and Return on Assets (ROA) of 3.2% against 3.1% in Q1’24The Bank remains well capitalized with capital adequacy ratio (CAR) at 18.6% for Q1’25 against 17.2% as at Q1’24Strong liquidity position is reflected by an Eligible Liquid Asset Ratio of 17.1% vs. 13.5% at Q1’24 and Advances to Stable Resources Ratio at 76.4% vs. 78.7% at Q1’24

1- Current Accounts and Savings Accounts to total Customer Deposits