Monday 22 July 2013

RAKBank exceeds expectations with profits up 14% - The National

RAKBank exceeds expectations with profits up 14% - The National:

"RAKBank's income rose by more than expected on higher fees on currency transfers, cross-selling of insurance and wealth management products, as the bank reaped higher returns on market investments.

The Ras Al Khaimah-based lender reported net profits of Dh392.1 million for the second quarter, an increase of 14.1 per cent compared with the corresponding period a year earlier.

The bank beat earnings estimates from one analyst, who had anticipated profits of Dh359m for the second quarter."

'via Blog this'

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