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RAKBANK, officially the National Bank of Ras Al Khaimah, was established in 1976 to provide essential banking services to the Emirate’s emerging economy. Majority-owned by the Government of Ras Al Khaimah, the bank began as a local corporate institution serving small and medium-sized enterprises (SMEs) and individuals within the Emirate.
Over the decades, RAKBANK has grown into one of the UAE’s most dynamic financial institutions, helping people and businesses across the nation thrive with confidence. Its philosophy remains simple: Banking should work for people, not the other way around.
Today, RAKBANK is leading a new chapter that combines smart digital innovation with genuine human connection. Through its Personal, Business, and Wholesale Banking Groups, along with Skiply, Protego, and RAK Insurance, RAKBANK is shaping the future of banking while keeping its heart the same: people.
RAKBANK - Digital with a human touch.
Overview
From local institution to national financial leader
Established in 1976
Majority-owned by the Government of Ras Al Khaimah
Listed on the Abu Dhabi Securities Exchange (ADX)
Network of 20 branches across the UAE
Serving 700,000+ customers
One of the UAE’s earliest Islamic banking divisions
Rooted in Ras Al Khaimah, RAKBANK has grown into one of the UAE’s most trusted financial institutions, balancing legacy with innovation to drive national progress.
Brief history
Founded in 1976, RAKBANK’s initial role was to serve local SMEs and individuals. By 2001, a significant transformation had shifted its focus from being a local corporate bank to a national retail and SME leader. This rebrand, combined with the launch of RAKislamic, broadened its appeal and enabled it to reach new customer segments.
Over the next two decades, RAKBANK expanded nationwide with 27 branches, built a strong retail presence, and became recognised for simplicity, accessibility, and customer service. Its listing on the ADX reinforced its role as a transparent and accountable financial institution.
Financials
Total Assets (2024):
88.3 billion
19% YOY
Net Profit (2024):
2.3 billion
27% YOY
ROE (2024):
19%
Strategy
Evolution and expansion across the UAE
RAKBANK’s growth has been driven by a strategy focused on accessibility, innovation, and diversification.
Digital innovation
Early introduction of mobile apps and continuous investment in cybersecurity, fintech partnerships, and digital-first services.
SME leadership
Recognised as the UAE’s leading SME bank, providing tailored financing and advisory services.
Contribution
Impact on Ras Al Khaimah’s development
RAKBANK remains one of Ras Al Khaimah’s most important institutions.
Economic enabler
Provides critical capital and credit to SMEs, helping local businesses scale and succeed.
Employment provider
Supports a diverse workforce across the UAE while maintaining strong roots in Ras Al Khaimah.
Reputation builder
Demonstrates how a Ras Al Khaimah-based institution can scale nationally, setting an example of trust, resilience, and responsible growth.
RAKBANK's journey from a local to a national leader demonstrates Ras Al Khaimah's capacity to foster dependable, innovative institutions, connecting the UAE's heritage with its future.
