RAKBANK
The retail and business bank headquartered in Ras Al Khaimah, serving individuals, SMEs and corporates across the UAE.
The National Bank of Ras Al Khaimah, trading as RAKBANK, was founded on 15 June 1976 and is headquartered in the emirate. For roughly its first quarter-century it operated as a corporate bank serving mostly local businesses, a very different institution from the retail and SME lender it is known as today.
The turn came in 2001, when it took the RAKBANK name and shifted its focus from corporate banking towards personal customers and small businesses. Its shares have traded on the Abu Dhabi Securities Exchange since 2005. It launched an Islamic banking arm, RAKIslamic, in 2013, and acquired a majority stake in RAK Insurance in 2015.
The bank's recent results are the strongest in its history. It crossed 100 billion dirhams in total assets during 2025, and reported first-half 2026 net profit of about 1.7 billion dirhams, up roughly a quarter year on year, with total assets of about 108.6 billion dirhams, up 14 percent.
One figure in that run deserves a caveat. First-quarter 2026 net profit of about 1,004 million dirhams was up 43 percent year on year, but it included a one-off gain of about 473 million dirhams from selling the bank's merchant acquiring business to Network International. Stripping that out, underlying growth was strong but well short of 43 percent, which is the sort of distinction a headline percentage tends to bury.
Key facts
| Founded | 15 June 1976 |
|---|---|
| Headquarters | Ras Al Khaimah |
| Listed on | Abu Dhabi Securities Exchange (ADX) |
| Services | retail, SME, corporate, digital payments |
| Recent partnership | Mastercard digital payments agreement |
| Renamed RAKBANK | 2001, pivoting from corporate to retail and SME banking |
| Listed | Abu Dhabi Securities Exchange since 2005 |
| H1 2026 net profit | approx. AED 1.7 billion (up approx. 25% YoY) |
| Total assets | approx. AED 108.6 billion (H1 2026, up 14% YoY) |
| Subsidiaries | RAKIslamic (2013), majority stake in RAK Insurance (2015) |
Leadership
Frequently asked questions
When was RAKBANK founded?
On 15 June 1976, as the National Bank of Ras Al Khaimah. It ran as a corporate bank serving mostly local businesses for roughly its first 25 years, then took the RAKBANK name in 2001 and moved into personal and small-business banking.
Is RAKBANK a government bank?
It is a publicly listed commercial bank, trading on the Abu Dhabi Securities Exchange since 2005 and headquartered in Ras Al Khaimah. It is not a government authority, though it is closely identified with the emirate through its name and history.
How big is RAKBANK?
Total assets were about 108.6 billion dirhams as of the first half of 2026, up 14 percent year on year, having crossed the 100 billion dirham mark during 2025. First-half 2026 net profit was about 1.7 billion dirhams, up roughly a quarter.
Why did RAKBANK profit jump 43 percent in early 2026?
First-quarter 2026 net profit of about 1,004 million dirhams included a one-off gain of about 473 million dirhams from selling the bank's merchant acquiring business to Network International. Underlying growth was strong but considerably lower than the headline 43 percent once that disposal is excluded.
Does RAKBANK offer Islamic banking?
Yes, through RAKIslamic, which it launched in 2013. The bank also acquired a majority stake in RAK Insurance in 2015, giving it insurance alongside its conventional and Islamic banking operations.
Who is RAKBANK's chief executive?
Raheel Ahmed is Chief Executive Officer. The bank is headquartered in Ras Al Khaimah and serves personal, small-business and corporate customers across the UAE.