Wednesday 29, January 2014 by Matthew AmlĂ´t

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.

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