RAKBank profit falls by more than half as loan defaults surge | The National

RAKBank profit falls by more than half as loan defaults surge | The National:

"RAKBank’s profit tumbled by more than half last year despite the lender slashing Dh68 million from its staff costs as loan defaults surged. The lender, also known as National Bank of Ras Al Khaimah, reported a fourth-quarter net profit Dh108.7 million which was flat on the previous quarter. It did not provide a year earlier comparison. Overall 2016 profits fell by almost 53 per cent to Dh662.9m. "



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