The General Assembly of the National Bank of Ras Al Khaimah (RAKBANK) approved the distribution of 30% cash dividends of the capital, at 30 fils per share for the fiscal year 2019. < / p>
According to the statement, the dividend will pay about 46% of the group's net profit.
The participating shareholders approved all the agenda items, including the bank's consolidated balance sheet and profit and loss statements for the financial year ending on December 31, 2019.
“We are proud of the performance of the bank, which achieved an increase in net profit of 177.7 million dirhams, or 19.4%, to 1,095.3 million dirhams,” said Mohamed Omran Al Shamsi, Chairman of the National Bank of Ras Al-Khaimah. The bank had succeeded in reducing the provisions for credit losses by 107.9 million dirhams, or 7.6%, with total revenues reaching 4 billion dirhams.
