Wednesday 29, January 2014 by Matthew Amlôt

RAKBANK announces AED 1.43 billion in profit for 2013

RAKBANK announced AED 1,430.8 million in net profit for 2013. In its first year, the Bank's Islamic Finance division - AMAL - broke even ahead of target, recording a small profit of AED 3.0 million for the year. Gross loans and advances grew by 8.5 per cent to AED 22.4 billion at year-end, AED 1.2 billion of which came from Islamic financing assets.

Features & Analyses

Islamic Finance The path forward

After years of milestones, Islamic finance in Dubai and beyond still has work to do, writes Abdulla Mohammed Al Awar, CEO of DIEDC read more