Ras Al Khaimah, July 25 (IANS/WAM) The Rakbank has announced a net profit of 760.1 million dirhams (around $207 million) for the half year that ended June 30.
The profit reflected a 13.7 percent increase over the same period last year.
"Rakbank's rise in profit in the first half of 2013 is a result of both funded and non-funded income streams, fuelled by a competitive pricing policy, innovative products, and industry-leading customer service," said Rakbank chief executive officer Graham Honeybill.
"The first half of the year witnessed major development at the bank, including the launch of its separate Islamic banking division, Rakbank AMAL, which offers a suite of sharia-compliant products and services," he added.
--IANS/WAM
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