UAE’s National Bank of Ras Al Khaimah (RAK Bank) posted a Q2-2022 net profit of 307.3 million dirhams ($84 million), up 40% compared to Q1 2022.
The result easily beat analysts’ mean forecast of AED 259 million, according to data provider Refinitiv.
The bank said the net profit, the highest since 2015, was supported by lower cost of risk in a buoyant macro-economic environment. The lender also more than halved its impairment charges to AED…