The General Assembly of the National Bank of Ras Al-Khaimah approved yesterday a cash dividend of about 500 million dirhams, at 30 fils per share for the fiscal year 2018.

These distributions make up 30% of the paid-up capital of the bank and the profit recommendations will pay 54,8% of the group's net profits.

According to the company statement published by Abu Dhabi Market, the association agreed to all the items on the agenda and this included the bank's consolidated balance sheet and profit and loss statements for the financial year ending on December 31, 2018.

The bank achieved an increase in net profit of 107 million dirhams, or 13.2%, to 917.5 million dirhams, and the bank succeeded in reducing the provisions for credit losses by 131.8 million dirhams or so. Equivalent to 8.5%.


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