RAKBank, reported a net profit of Dh1.04 billion for the nine months ended September 30, 2012, recording 14.5 per cent annual growth compared to the same period in 2011 and 7.6 per cent quarter growth.
Net interest income for the nine months increased by 14 per cent to Dh1.7 billion compared to the same period last year, and net loans and advances grew by 9.36 per cent . With deposits up by 12.5 per cent at Dh2.29 billion, the Bank was able to maintain healthy liquidity and loan to deposit ratios at 19.4 per cent and 91.9 per cent respectively.
“The positive results reported for the nine months reflect the continued growth in our customer base as a direct result of the bank’s full range of evolutionary products and services supported by superior customer service,” said Graham Honeybill, RAKBank’s Chief Executive Officer.
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