The National Bank of Ras Al-Khaimah (Rakbank) recently announced a cash dividend of 15 percent, constituting a payout of 37.5 million Emirati dirhams for the year 2001. The bank’s shareholders approved the dividend, which is the same as last year’s pay out, reported the official WAM news agency.
The bank experienced a 20 percent net profit increase in 2001, recording Dh 60.2 million in earnings. Rakbank’s total assets increased by 30 percent increase to Dh 2.42 billion, while total shareholders' equity increased a little over four percent to Dh 540.83 million.
Rakbank is a public joint stock company, headquartered in the United Arab Emirate of Ras Al-Khaimah. The bank is 50.11 percent owned by the government of Ras Al-Khaimah, 39.41 percent by UAE companies and nationals and 10.48 percent by the citizens of Kuwait. — (menareport.com)
© 2002 Mena Report (www.menareport.com )