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

Investment Banking Creating a diverse bond market

In an exclusive mini roundtable, Nabilah Annuar, Banker Middle East Editor, sits down with Michael Grifferty, President of the Gulf… read more