RAK Bank Full-Year Profit Increases 14% to $198 Million

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National Bank of Ras al-Khaimah PSC, the United Arab Emirates lender known as RAK Bank, said full- year profit rose 14 percent as revenue jumped.

Net income increased to 726 million dirhams ($198 million) from 636 million dirhams a year earlier, the lender said in a statement to the Abu Dhabi stock exchange today. Revenue rose 27 percent to 1.72 billion dirhams.

The bank didn’t provide fourth-quarter earnings numbers.END