close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

UAE’s RAKBank profit jumps 31 pct in Q2

Year on year six month profit up 36 pct.

0

July 21, 2010 11:18 by



UAE lender National Bank of Ras al-Khaimah reported a second quarter net profit increase of 31 percent on Tuesday as interest and fee income rose, outweighing a near doubling of bad loan charges.

Abu Dhabi-listed RAKBank made a net profit of 240.2 million dirhams ($65.4 million) in the three months to June 30, up from 183.4 million dirhams in the year earlier period.

“The bank’s second quarter result reflects the growth in the bank’s customer base across a wide range of personal and small business segments…”, said general manager Graham Honeybill in the statement.

Net provisions for bad loans continued to weigh on the bank, jumping 92.8 percent in the first half of the year to 148.8 million dirhams, from 77.2 million dirhams in the same period in 2009.

The lender, controlled by the ruler of emirate Ras al-Khaimah, reported a six month net profit of 468.3 million dirhams, up 36.2 percent from the same period in 2009. First half net income interest grew by 42 percent to 767 million dirhams, while fees, commission and other income increased 23.6 percent.

In May, the board of directors approved an increase in limit of the bank’s bond issuance programme to $1 billion from $500 million.

(Reporting by Rachna Uppal; Editing by Andrew Callus)



0

Tags: , ,

Leave a Comment