RAKBANK
| 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 Emirati bank. It was established in 1976 and is headquartered in the Emirate of Ras Al Khaimah, 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 was listed on the Abu Dhabi Securities Exchange.[5]
In 2013, the bank launched RAKIslamic, a dedicated division offering Sharia-compliant personal and business banking products.[6]
In 2015, Rakbank acquired a majority stake in RAK Insurance, enabling it to offer integrated bancassurance products.[7]
In 2025, it became the first traditional bank to offer cryptocurrency trading.[8] In 2026, the bank received 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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