Abu Dhabi –  The National Bank of Ras Al Khaimah (RAKBANK) posted a surge in its net profits attributable to the owners to AED 220.82 million in the first quarter (Q1) of 2022 from AED 113.31 million in the year-ago period, according to the bank's interim financials for the three-month period ended 31 March 2022.

The bank's net interest income and net income from Islamic financing rose to AED 540.42 million in Q1-22, compared to AED 531.74 million in Q1-21.

The basic and diluted earnings per share (EPS) stood at AED 0.13 in the first three months (3M) of 2022, against AED 0.07 in the corresponding period of 2021.

It is noteworthy to mention that in 2021, RAKBANK recorded a 50% year-on-year (YoY) rise in net profits to AED 758.3 million, compared to AED 505.4 million.

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