RAKBANK’s Profit Before Tax Is $630 Million in 9M-2025
Driven by higher non-interest income, which contributed upwards of 30% of total income, and a sustainable margin on a consistently growing balance sheet, RAKBANK, the National Bank of Ras Al-Khaimah, has reported a profit before tax of $630 million, an increase of 23% y-o-y in the first nine months of 2025.
These results highlighted RAKBANK’s diversified income model and its long-term commitment to creating value for customers, shareholders, and the broader economy, RAKBANK Group CEO Raheel Ahmed said.
According to him, the third quarter marked several milestones. In retail banking, the active customer base grew by 12% y-o-y, accompanied by double digit growth on the liabilities book.
“Our credit card acquisition volumes are up by 70%, making RAKBANK one of the top banks in credit cards in the UAE. We continue to invest in our Elite Customer Centers serving HNWI, supported by a record 34% growth in wealth management income,” he said.
He said that within wholesale banking, RAKBANK successfully booked its first bilateral aircraft finance deal with Flydubai, reinforcing their ability to serve complex client needs across sectors. While unfunded trade volumes doubled y-o-y, reflecting growing client engagement and healthy market demand.
RAKBANK also launched its DCM business to support clients in meeting their funding needs, acting as Joint Lead Manager on key transactions in the real estate and financial sectors.
Within Financial Institutions, the bank continued to build momentum, securing mandates across Europe and Africa and serving as coordinator on syndicated loans.
As the go-to bank for SMEs, the bank has opened more than 17,000 new accounts and disbursed $440 million in business loans this year, helping their customers grow and scale with confidence, and additionally, it has granted $410 million in credit limits to customers seeking sustainable working capital solutions.
The business banking balance sheet has reached new milestones with the deposit book crossing $6.81 billion and advances book crossing $3 billion. The launch of Season 3 of the SME Souk podcast has also deepened the bank’s engagement with the business community, providing practical insights, market trends, and stories that strengthened its role as a trusted partner for SMEs in the UAE.
Crypto Brokerage Services
Raheel Ahmed said that the bank also launched its crypto brokerage service via its mobile app for retail customers, becoming the first conventional bank in the UAE to enable crypto trading services for its customers.
With this, RAKBANK customers can buy, sell, and swap cryptocurrencies in AED by accessing Bitpanda’s crypto trading platform through RAKBANK’s mobile banking app.
“We continue to accelerate our investment in data, Al, and technology as key enablers of future growths. Between 2024 and 2025, technology CAРEХ rose by 47%, a clear signal that we are investing with purpose to drive smarter operations, deeper insights, and more connected customer experiences,” he averred.
The bank’s operating income for the first nine months amounted to $1.06 billion, a 10% increase compared with the corresponding period in 2025. The operating income for the third quarter in 2025 was $380 million, reflecting an increase of 10% y-o-y, the highest quarterly result to date.
The bank’s balance sheet reached $27.09 billion, nearing a milestone and the total assets increased by $4.25 billion, reflecting a growth of 19%, with an increase in gross loans and advances of $1.36 billion, investments to the tune of $790 million.
Cash Flows
Cash and cash equivalents as at Sep’25 stood at $3.24 billion increasing by $1.09 billion. The net cash generated from operating activities for 9M-2025 was $410 million of which $300 million was used in investing activities and $380 million was received from financing activities.
Capital Expenditure for the 9M-2025 amounted to $52.83 million compared with $42.21 million for the same period last year, as the Bank continued to invest in technology and infrastructure.
