Ras Al Khaimah Bank, a participant in the Abu Dhabi Securities Market, reported growth of 64.4% annually for the first nine months of 2022.
According to the financial statements of the bank sent to the Abu Dhabi Market today, during the first nine months of 2022, he achieved profits of 878. 8 million dirhams, compared to profits of 534. 7 million dirhams in the comparative period from 2021, by supporting income growth and managing strict costs.
Thanks to the varied public budget and the decline in the cost of risks in a robust overall economic environment, the bank has had the biggest growth in net profits since the third quarter of 2015.
In comparison to the third quarter of 2021, the bank’s net profit for the third quarter climbed by 53.7% to 351.4 million dirhams, while total revenues rose by 13.6% to 951.0 million dirhams.
The unpaid revenues increased by 1.3% to 262. 3 million dirhams and by 1 million dirhams.
The total loans and predecessors recorded 36 billion dirhams, an increase of 7. 5% on an annual basis, and 5. 3% from the beginning of the year to date..
9-month profit of 878.8 million dirhams for Ras Al Khaimah Bank, representing a 64.4% increase
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