RAKBANK
 | |
Native name | بنك رأس الخيمة |
|---|---|
| Formerly | National Bank of Ras Al-Khaimah |
| Type | Public Joint Stock Company |
| ADX: RAKBANK | |
| ISIN | AEN000601015 |
| Industry | Banking |
| Founded | June 15, 1976 |
| Headquarters | , |
Number of locations | 20 (2025) |
Area served | United Arab Emirates |
Key people | Mohammad Omran Alshamsi (Chairman) Raheel Ahmed (CEO) |
| Products | Financial services |
| Revenue | AED 2,6 billion (2025) (USD 707 million)[1] |
| AED 5,2 billion (2025) (USD 1,4 billion)[1] | |
| Total assets | AED 105 billion (2025) (USD 28,59 billion)[1] |
| Total equity | AED 14,7 billion (2025) (USD 4 billion)[1] |
Number of employees | 980 (2025) |
| Divisions | RAKInsurances RAKIslamic |
| Website | www |
RAKBANK is the trading name of the National Bank of Ras Al-Khaimah PJSC (Arabic: بنك رأس الخيمة),[2] a public joint-stock; major Emirati bank established in 1976 and headquartered in the Emirate of Ras Al Khaimah, in the United Arab Emirates. It is listed on the Abu Dhabi Securities Exchange (ADX).[3]
History
[edit]For its first 25 years, the institution operated as a conventional Corporate Bank. It primarily catered to local businesses. In 2001 the bank was rebranded to RAKBANK entering to the Retail banking.[4]
In August 2005 the bank start listing in the Abu Dhabi Securities Exchange.[5]
In 2013, Launched RAKIslamic, a dedicated division offering Sharia-compliant personal and business banking products.[6]
In 2015, Acquired a majority stake in RAK Insurance, enabling them to offer integrated bancassurance products.[7]
In 2025, It was the first traditional bank to offer Cryptocurrency trading.[8] In 2026, the bank received the approval from the Central Bank of the United Arab Emirates to launch a Stablecoin based on the United Arab Emirates dirham.[9]
Shareholding
[edit]As of 2025.[1]
| Shareholder | Percent owned |
|---|---|
| Government of Ras Al Khaimah | 49.35% |
| UAE citizens | 36.72% |
| GCC citizens | 10.76% |
| Foreign ownership | 2.72% |
See also
[edit]References
[edit]- 1 2 3 4 5 "Annual Report 2025" (PDF). RAKBANK.
- ↑ "RAKBANK Digital Banking, UAE's Leading Bank At Your Fingertips". www.rakbank.ae.
- ↑ "Company Profile Overview | ADX - RAKBANK". www.adx.ae.
- ↑ "RAKBANK Chooses Gemalto to Support Migration to Contactless EMV Payments in the UAE". Thalesgroup. 2016-05-24.
- ↑ "RAKBANK profile". english.mubasher.info.
- ↑ "RAK Bank to expand Islamic finance business". MEED. 2014-02-10. Archived from the original on 2019-08-24.
- ↑ "RAKBank buys 79.23 per cent of RAK Insurance". Khaleej Times. 2015-05-29.
- ↑ Nair, Manoj (2025-07-29). "RAKBank to allow retail clients trade in cryptos - first by a UAE bank". Gulf News.
- ↑ "RAKBank gets UAE Central Bank approval for dirham-backed stablecoin". Khaleej Times. 2026-01-07.
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