The shareholders of National Bank of Ras Al-Khaimah agreed through a general assembly that was held remotely through electronic participation, to distribute cash dividends of 30 fils per share for 2019, at a rate of 30% of the share’s value. Participating shareholders also agreed on all agenda items, and that included the budget The consolidated balance sheet of the bank, and profit and loss statements for the financial year ending on December 31, 2019.
The Chairman of the National Bank of Ras Al-Khaimah, Mohamed Omran Al Shamsi, commented on the bank's performance for the fiscal year ending on December 31, 2019, saying in a press release: “We are proud of the performance of the bank which achieved an increase in net profit of AED 177.7 million or 19.4% to 1,095.3 The bank has succeeded in reducing provisions for credit losses by 107.9 million dirhams, or 7.6%, with total revenue of about 4 billion dirhams, and total assets increased by 8.4% to reach 57.1 billion dirhams, while it increased Customer deposits increased by 7.9% to reach AED 36.8 billion Or 2019, the Bank has implemented a range of initiatives to improve the cost, and the average income record to cost ratio 39.5%.
He added: “2019 was a very successful year for the National Bank of Ras Al-Khaimah, but we recognize the difficult challenges we currently face worldwide throughout the Corona virus. We at the National Bank of Ras Al-Khaimah support all initiatives taken by various government agencies to help contain the spread of the virus, and we will take All possible steps to help our customers in these difficult times. The National Bank of Ras Al-Khaimah remains strong and well-capitalized, with our capital ratio reaching 16.83% at the end of 2019 and the ratio of the first tranche of capital to ordinary shares was 15.70%. ”