RakBank’s third-quarter profit surges 29% after strong business and robust deposits

National Bank of Ras Al Khaimah reported a 28.7 per cent jump in its third-quarter net profit driven by a growth in customer deposits and all segments of banking.

The lender reported a net profit of Dh452.1 million ($123.09 million) in the July-September period, RAKBank said in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.

Total income during the period rose 24.2 per cent to more than Dh1.1 billion.

“As a leading SME bank in the UAE, we remain steadfast in our support of entrepreneurs and start-ups,” Raheel…